Charity registration number 1112071
Company registration number 05453364 (England and Wales)
COMMUNITY HEART (LONDON)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
COMMUNITY HEART (LONDON)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms P Efstathiou
Mr M Constantinou
Dr C Evangelou
Mrs F Kosta
Mr Chrysanthos Zacharia
(Appointed 8 November 2023)
Secretary
Ms P Efstathiou
Charity number
1112071
Company number
05453364
Principal address
193-195 Fore Street
Angel Place
Edmonton
London
NW18 2UD
Registered office
193-195 Fore Street
Angel Place
Edmonton
London
NW18 2UD
Independent examiner
John Caladine FCCA CTA FCIE
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
Bankers
National Westminster Bank
Whetstone Branch
1302 High Road
London
N20 9JF
COMMUNITY HEART (LONDON)
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Statement of financial position
6
Notes to the financial statements
7 - 17
COMMUNITY HEART (LONDON)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 MAY 2024
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 May 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's objects are:

 

a) To provide for the benefit of the community a social relief and care service working by means of befriending, encouraging and caring for individuals to assist in relieving and rehabilitating persons suffering deprivation and to raise their levels of confidence so that they are better able to develop the capacity to participate more fully in society in particular but not exclusively by means of visiting persons in prisons hospitals homes and communities in London and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit

 

b) To provide in the interests of public benefit community facilities (particularly but not exclusively recreational and other leisure-time activities) so as to develop the physical social and mental capacities of young people that they may grow to full maturity as individuals and members of society in London and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit

c) To preserve and safeguard the health of all persons and in particular of young persons who are in danger of becoming addicted to or dependent upon drugs of any description, alcohol, solvents, or other addictive substances in the said location and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit and

d) To promote and fulfil such other charitable purposes beneficial to the community in London and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit.

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The core work to date has been to continue developing the Edmonton Eagles Boxing Club, to run the youth football coaching and games, to continue the youth project 'Youth Zone' and to develop the ‘Signpost’ project, to carry out the objectives of the charity. The Edmonton Eagles Boxing Club has use of Council premises, where qualified ABA coaches train and coach both adults and children from the surrounding communities.

Running with the Vision Youth Football (RWTV), Edmonton Eagles Boxing Club & Youth Zone continue to go from strength to strength.

As part of the Youth Zone, a talent show has been introduced whereby local talent enter an annual competition with prize money issued to the top 3 winners.

The Signpost project was born out of a commitment to reach out to those on the margins of our community to help support them in sourcing the housing, food, benefits, and emotional support they need. The project continued to function during the week. With our current resources, we are able to provide a meal twice a week. The Project runs weekly on Thursdays for meals and Saturdays for teas, coffees, snacks and once a month on a Saturday for a full breakfast.

Also, a Christmas meal was held during the festive season, which proved to be a great success with many homeless and vulnerable people attending. Through the various donations given, Christmas bags containing clothing and toiletries were given out.

COMMUNITY HEART (LONDON)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 2 -

As the project grows, various avenues of funding are being pursued to help maintain and further expand the immensely impacting work of the project. During the year, the charity has applied for and received various forms of funding and donations which have enabled the Charity to further enhance and develop the boxing, football, youth work and Signpost projects that are run.

We recently set up a food bank whereby we provide food parcels to those who are in need within the local community. We use the Boxing club as a base whereby nonperishable food is stored and given out Monday and Wednesday evenings from the Club and Thursdays during our signpost meals. We have linked up with the Felix project who also provide as with frozen and chilled products. The number of people that use the food bank have steadily increased and we are now distributing approximately 120 food bags weekly via the club and Thursday evenings.

Financial review

This is set out on page 5 of the financial statements. There were funds in hand at 31 May 2024 on all funds of £102,502.

Reserves

The charity is seeking to retain sufficient monies on reserve to cover three months operational expenditure, although at the present time this proved difficult to achieve.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee. .

The organisational structure of Community Heart (London) at present comprises six community project leaders, Mr Julian Tobierre who heads the day to day running of the Edmonton Eagles Amateur Boxing Project, Mr Kyri Yiallouris and Mr Andy Sotiriou who head the day to day running of the Running with the vision Youth Football project, Mr Dominic Samy who heads the day to day running of the Youth Zone project, Mr Mario Constantinou who heads the day to day running of the Signpost Project and Mr Beki Mustafa who heads the day to day running of the Foodbank. All six project leaders report to the appointed trustees on a regular basis.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Ms P Efstathiou
Mr M Constantinou
Dr C Evangelou
Mrs F Kosta
Mr Chrysanthos Zacharia
(Appointed 8 November 2023)
Recruitment and appointment of trustees
New Trustees are appointed by the majority vote of the existing trustees and only people with suitable experience are appointed.

None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
COMMUNITY HEART (LONDON)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
Statement of Trustees' responsibilities

The Trustees, who are also the directors of Community Heart (London) for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the Trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees' report was approved by the Board of Trustees.

Mr M Constantinou
Trustee
9 January 2025
COMMUNITY HEART (LONDON)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF COMMUNITY HEART (LONDON)
- 4 -

I report to the Trustees on my examination of the financial statements of Community Heart (London) (the charity) for the year ended 31 May 2024.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

 

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

John Caladine FCCA CTA FCIE
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
Dated: 9 January 2025
COMMUNITY HEART (LONDON)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
19,071
97,794
116,865
35,792
65,112
100,904
Charitable activities
4
-
65,934
65,934
-
100,948
100,948
Other income
5
-
-
-
1,435
-
1,435
Total income
19,071
163,728
182,799
37,227
166,060
203,287
Expenditure on:
Charitable activities
6
2,753
173,065
175,818
1,105
154,737
155,842
Total expenditure
2,753
173,065
175,818
1,105
154,737
155,842
Net income/(expenditure)
16,318
(9,337)
6,981
36,122
11,323
47,445
Transfers between funds
16
(9,531)
9,531
-
-
-
-
Net movement in funds
8
6,787
194
6,981
36,122
11,323
47,445
Reconciliation of funds:
Fund balances at 1 June 2023
75,216
20,305
95,521
39,094
8,982
48,076
Fund balances at 31 May 2024
82,003
20,499
102,502
75,216
20,305
95,521

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

COMMUNITY HEART (LONDON)
STATEMENT OF FINANCIAL POSITION
AS AT
31 MAY 2024
31 May 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Property, plant and equipment
12
12,797
8,804
Current assets
Trade and other receivables
13
-
936
Cash at bank and in hand
93,487
87,581
93,487
88,517
Current liabilities
14
(3,782)
(1,800)
Net current assets
89,705
86,717
Net assets
102,502
95,521
The funds of the charity
Restricted income funds
16
20,499
20,305
Unrestricted funds
82,003
75,216
102,502
95,521

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2024.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 9 January 2025
Mr M Constantinou
Trustee
Company registration number 05453364 (England and Wales)
COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
1
Accounting policies
Company information

Community Heart (London) is a private company limited by guarantee incorporated in England and Wales. The registered office is 193-195 Fore Street, Angel Place, Edmonton, London, NW18 2UD.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income

Fees are recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

 

Grants are recognised in the financial statements in the period in which they are received unless material and related to a specific period, when they are deferred to the balance sheet and carried forward to the next accounting period.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5
Expenditure

Resources expended are recognised in the period in which they are incurred and allocated to the particular cost centre to which they relate. Expenditure includes irrecoverable VAT.

COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies (Continued)
- 8 -

Costs of rent and support other overheads are allocated to the cost centres in the following proportions to reflect usage;                        

            Support Costs    Governance        

Edmonton Eagles            80%     80%         

Running with the Vision        5%     5%         

Youth Zone            5%     5%         

Sign Post            5%    5%

General fund            5%    5%     

1.6
Property, plant and equipment

Property, plant and equipment are measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Fixtures and equipment
25% on a reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Fixed assets costing below £200 are not capitalised as well as various small items of boxing equipment.

1.7
Impairment of non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies (Continued)
- 9 -
Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Taxation

In the opinion of the Trustees the charity is not liable to United Kingdom corporation taxation on its charitable activities.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 10 -
3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
18,981
7,341
26,322
20,614
5,095
25,709

Grants received

-
90,453
90,453
15,000
59,927
74,927

Gift aid receivable

90
-
90
178
90
268
19,071
97,794
116,865
35,792
65,112
100,904
4
Income from charitable activities
Restricted
Restricted
funds
funds
2024
2023
£
£
Charitable activities

Fees and contributions (Edmonton Eagles)

65,934
100,948
5
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Grants Enfield Borough Council

-
1,435
COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 11 -
6
Charitable activities

General

Edmonton Eagles

Running with the Vision

Youth Zone

Signpost Project

Total
Total
2024
2024
2024
2024
2024
2024
2023
£
£
£
£
£
£
£
Staff costs
-
90,548
-
-
-
90,548
85,589

Boxing equipment, events and other costs

-
31,360
-
-
-
31,360
21,854

Small items of equipment and sundries

-
24
-
-
-
24
-

Travel and accommodation

-
30
-
-
-
30
918

Subscriptions and licenses

-
1,427
-
-
-
1,427
1,538

Youth Retreat

-
2,600
-
-
-
2,600
440

Football costs

-
-
2,822
-
-
2,822
3,146

Youth Zone costs

-
-
-
4,315
-
4,315
2,159

Sign post project (rent and other costs)

-
-
-
-
8,084
8,084
8,662

Seminars and books

1,481
-
-
-
-
1,481
327

Insurance

-
3,302
-
-
-
3,302
2,513
Advertising
-
131
-
-
-
131
436
1,481
129,422
2,822
4,315
8,084
146,124
127,582
Share of support costs (see note 7)
1,034
19,906
1,034
1,932
1,034
24,940
23,900
Share of governance costs (see note 7)
238
3,802
238
238
238
4,754
4,360
2,753
153,130
4,094
6,485
9,356
175,818
155,842
Analysis by fund
Unrestricted funds
2,753
-
-
-
-
2,753
1,105
Restricted funds
-
153,130
4,094
6,485
9,356
173,065
154,737
2,753
153,130
4,094
6,485
9,356
175,818
155,842
COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
6
Charitable activities (Continued)
- 12 -
For the year ended 31 May 2023

General

Edmonton Eagles

Running with the Vision

Youth Zone

Signpost Project

Total
2023
£
£
£
£
£
£
Staff costs
-
85,589
-
-
-
85,589

Boxing equipment, events and other costs

-
21,854
-
-
-
21,854

Travel and accommodation

560
358
-
-
-
918

Subscriptions and licenses

-
1,538
-
-
-
1,538

Youth Retreat

-
440
-
-
-
440

Football costs

-
-
3,146
-
-
3,146

Youth Zone costs

-
-
-
2,159
-
2,159

Sign post project (rent and other costs)

-
-
-
-
8,662
8,662

Seminars and books

327
-
-
-
-
327

Insurance

-
2,513
-
-
-
2,513
Advertising
-
436
-
-
-
436
887
112,728
3,146
2,159
8,662
127,582
Share of support costs (see note 7)
-
21,675
979
1,246
-
23,900
Share of governance costs (see note 7)
218
3,706
218
218
-
4,360
1,105
138,109
4,343
3,623
8,662
155,842
Analysis by fund
Unrestricted funds
1,105
-
-
-
-
1,105
Restricted funds
-
138,109
4,343
3,623
8,662
154,737
1,105
138,109
4,343
3,623
8,662
155,842
COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 13 -
7
Support costs allocated to activities
Unrestricted Funds
Total
2024
2023
£
£
Depreciation
4,265
4,317
Rent and services
2,500
2,500
Gas and electricity
8,551
8,472
Insurance
1,968
2,178
Telephone, fax and website
3,112
3,460
Printing, postage and stationery
88
333
Repairs, maintenance and small equipment
1,587
855
Software costs
144
144
Professional fees
439
712
Sundries
2,286
929
Governance
4,754
4,360
29,694
28,260
2024
2023
Governance costs comprise:
£
£
Accountancy costs
3,144
2,652
Independent examination
600
600
Payroll fees
720
720
Bank charges
290
388
4,754
4,360
8
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned property, plant and equipment
4,265
4,317
9
Trustees

Dr C Evangelou (a trustee) received a gross salary of £48,184 (2023: £49,983) in accordance with the memorandum and articles of association.

 

P Efstathiou (a trustee) received a gross salary of £9,992 (2023: £9,995) in accordance with the memorandum and articles of association.

 

None of the other Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 14 -
10
Employees
Number of employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Charitable activities
4
3
Employment costs
2024
2023
£
£
Salaries
85,270
80,396
Social security costs
2,775
2,781
Other pension costs
2,503
2,412
90,548
85,589
There were no employees whose annual remuneration was £60,000 or more.
11
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12
Property, plant and equipment
Fixtures and equipment
£
Cost
At 1 June 2023
56,154
Additions
8,258
At 31 May 2024
64,412
Depreciation and impairment
At 1 June 2023
47,350
Depreciation charged in the year
4,265
At 31 May 2024
51,615
Carrying amount
At 31 May 2024
12,797
At 31 May 2023
8,804
COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 15 -
13
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Other receivables
-
936
14
Current liabilities
2024
2023
£
£
Other taxation and social security
1,982
-
Accruals and deferred income
1,800
1,800
3,782
1,800
15
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
2,503
2,412

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

16
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 June 2023
Incoming resources
Resources expended
Transfers
At 31 May 2024
£
£
£
£
£
Edmonton Eagles
4,242
139,357
(153,130)
9,531
-
Running with the Vision
2,755
1,510
(4,094)
-
171
Youth Zone
6,970
3,961
(6,485)
-
4,446
Signpost Project
6,338
18,900
(9,356)
-
15,882
20,305
163,728
(173,065)
9,531
20,499
COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
16
Restricted funds (Continued)
- 16 -
Previous year:
At 1 June 2022
Incoming resources
Resources expended
Transfers
At 31 May 2023
£
£
£
£
£
Edmonton Eagles
-
142,351
(138,109)
-
4,242
Running with the Vision
2,725
4,373
(4,343)
-
2,755
Youth Zone
6,257
4,336
(3,623)
-
6,970
Signpost Project
-
15,000
(8,662)
-
6,338
8,982
166,060
(154,737)
-
20,305

Notes

The deficit on the Edmonton Eagles fund was corrected by a transfer from the unrestricted fund in the year.

 

Funds

Edmonton Eagles

This deals with the boxing activities of the charity which includes restricted grants and fees and gifts towards the work of the boxing club.

 

Running with the Vision

This deals with the football activities of the charity.

 

Youth Zone

This deals with the other youth activities of the charity.

 

Signpost Project

This deals with the provision of free meals and other support by the charity.

17
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 June 2023
Incoming resources
Resources expended
Transfers
At 31 May 2024
£
£
£
£
£
General funds
75,216
19,071
(2,753)
(9,531)
82,003
Previous year:
At 1 June 2022
Incoming resources
Resources expended
Transfers
At 31 May 2023
£
£
£
£
£
General funds
39,094
37,227
(1,105)
-
75,216
COMMUNITY HEART (LONDON)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 17 -
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 May 2024:
Property, plant and equipment
-
12,797
12,797
Current assets/(liabilities)
82,003
7,702
89,705
82,003
20,499
102,502
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 May 2023:
Property, plant and equipment
-
8,804
8,804
Current assets/(liabilities)
75,216
11,501
86,717
75,216
20,305
95,521
19
Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
2,500
2,500

There is a lease dated 19 September 2008 for the rental of a Boxing Club and Community Room at a rental of £2,500 per annum payable to the London Borough of Enfield. This was renewed for 10 years from July 2022.

20
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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