IRIS Accounts Production v24.3.2.46 Other Company accounts True false Pounds 1.4.23 30.9.24 30.9.24 FY Mr N J E Field Mr M R K Freeman Rev. A R Aagaard Mr P A Trevelyan-Clark Ms F J Walshe Ms L J Urquhart Mr W E P Wallace FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false true 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076042362023-03-31076042362024-09-30076042362023-04-012024-09-30076042362022-03-31076042362022-04-012023-03-31076042362023-03-3107604236ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-09-3007604236ns15:PoundSterling2023-04-012024-09-3007604236ns0:Trustee42023-04-012024-09-3007604236ns0:Trustee12023-04-012024-09-3007604236ns0:Trustee52023-04-012024-09-3007604236ns0:Trustee32023-04-012024-09-3007604236ns0:Trustee22023-04-012024-09-3007604236ns0:Trustee62023-04-012024-09-3007604236ns0:Trustee72023-04-012024-09-3007604236ns11:FRS1022023-04-012024-09-3007604236ns11:IndependentExaminationCharity2023-04-012024-09-3007604236ns11:SmallCompaniesRegimeForAccounts2023-04-012024-09-3007604236ns11:FullAccounts2023-04-012024-09-3007604236ns11:CharitiesSORP2023-04-012024-09-3007604236ns16:EnglandWales2023-04-012024-09-3007604236ns11:RegisteredOffice2023-04-012024-09-3007604236ns11:CompanySecretary12023-04-012024-09-3007604236ns0:TotalUnrestrictedFunds2023-04-012024-09-3007604236ns0:TotalRestrictedIncomeFunds2023-04-012024-09-3007604236ns0:Activity82023-04-012024-09-3007604236ns0:TotalUnrestrictedFundsns0:Activity82023-04-012024-09-3007604236ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-04-012024-09-3007604236ns0:Activity82022-04-012023-03-3107604236ns0:TotalUnrestrictedFunds2023-03-3107604236ns0:TotalRestrictedIncomeFunds2023-03-3107604236ns0:TotalUnrestrictedFunds2024-09-3007604236ns0:TotalRestrictedIncomeFunds2024-09-3007604236ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-09-3007604236ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2024-09-3007604236ns10:WithinOneYear2024-09-3007604236ns10:WithinOneYear2023-03-3107604236ns10:PlantMachinery2023-04-012024-09-3007604236ns10:FurnitureFittingsToolsEquipment2023-04-012024-09-3007604236ns10:ComputerEquipment2023-04-012024-09-300760423622023-04-012024-09-300760423612023-04-012024-09-300760423612022-04-012023-03-3107604236ns0:TotalUnrestrictedFunds2022-04-012023-03-3107604236ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3107604236ns10:PlantMachinery2023-03-3107604236ns10:FurnitureFittings2023-03-3107604236ns10:ComputerEquipment2023-03-3107604236ns10:FurnitureFittings2023-04-012024-09-3007604236ns10:PlantMachinery2024-09-3007604236ns10:FurnitureFittings2024-09-3007604236ns10:ComputerEquipment2024-09-3007604236ns10:PlantMachinery2023-03-3107604236ns10:FurnitureFittings2023-03-3107604236ns10:ComputerEquipment2023-03-31
REGISTERED COMPANY NUMBER: 07604236
REGISTERED CHARITY NUMBER: 1145476



Report of the Trustees and

Unaudited Financial Statements
for the period
1 April 2023 to 30 September 2024

for

Change Up @ Kennington Cross

Change Up @ Kennington Cross






Contents of the Financial Statements
for the period 1 April 2023 to 30 September 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 11

Change Up @ Kennington Cross (Registered number: 07604236)

Report of the Trustees
for the period 1 April 2023 to 30 September 2024


The trustees who are also directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the 18 month period ended 30 September 2024. The trustees have adopted the provisions of 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). In determining the activities undertaken by the Charity, the trustees have had due regard to the Charity Commission's guidance on public benefit.

OBJECTIVES AND ACTIVITIES
Objectives and aims
As stated in last year's Trustees' Report, the trustees and members of the Charity have resolved that it be dissolved and its net assets transferred to North Lambeth Parish ("NLP") due to NLP's intended development of the St Anselm's site and the consequent loss of the Charity's premises. During the period under review, all financial assets and liabilities of the Charity were discharged and net cash of £49,362 was transferred to NLP and the bank account closed. The Company will shortly apply to Companies House to be struck off the register of Companies and thereafter for removal from the Register of Charities.

The Charity's primary objective had been the promotion of social inclusion for the public benefit. The aim was to achieve this by helping the socially excluded take advantage of opportunities to build through employment or by establishing and growing a business. The Charity provided low-cost business units and mentoring, focussing primarily on people between 18 to 35 years of age who are excluded from society or parts of society (in particular but not exclusively ex-offenders) as a result of unemployment, financial hardship, poor educational or skills attainment or who are within or have experienced the public care or penal system.

FINANCIAL REVIEW
Principal funding sources
The Charity's funding historically came from three principal sources. Firstly, from income generated by the business units provided to those supported by the Charity. In the extended 18 month period it received £14,971 (2023 - 12 months £15,468) from this source. Secondly, from a network called 'The 100 Club' which collected monthly donations from local supporters in addition to general donations. During the 18 month period, the 100 Club supporters and general donations amounted to £2,547 (2023 - 12 months £5,366). No money was raised from fundraising events.

In anticipation of the Charity's dissolution, during the period all financial assets and liabilities were discharged and net cash of £49,362 was transferred to NLP and the bank account closed. At the period end, total charity funds amounted to £Nil (2023- £44,653) of which £Nil (2023- £42,811) was held in cash at bank or in hand.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Change Up @ Kennington Cross is a company limited by guarantee, as defined by the Companies Act 2006. It was incorporated on 14 April 2011 and its governing document is its Articles of Association which was adopted in its current form by special resolution passed on 7 July 2019.

New trustees are introduced to and appointed by the Board and stand for re-election at the next following Annual General Meeting.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07604236 (Not specified/Other)


Change Up @ Kennington Cross (Registered number: 07604236)

Report of the Trustees
for the period 1 April 2023 to 30 September 2024

Registered Charity number
1145476

Registered office
Units 1-12
11 Sancroft Street
London
SE11 5UG

Trustees
The trustees who served during the period under review and as at the date of this report were (unless otherwise stated):

Miles R K Freeman (Co. Chair)
Fiona J Walshe (Co. Chair)
Rev.'d Canon Angus R Aagaard
Nigel J E Field
Peter A Trevelyan-Clark
Lisa J Urquhart
W Ezra P Wallace

Company Secretary
Mr P A Trevelyan-Clark

Independent Examiner
Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

GOING CONCERN
The members and trustees have resolved to dissolve the charity and to transfer all its net assets to North Lambeth Parish.

Approved by order of the board of trustees on 12 December 2024 and signed on its behalf by:





Mr P A Trevelyan-Clark - Secretary

Independent Examiner's Report to the Trustees of
Change Up @ Kennington Cross

Independent examiner's report to the trustees of Change Up @ Kennington Cross ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the period 1 April 2023 to 30 September 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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 accounts 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 accounts to be reached.








Mr A Kemal FCA FCCA

Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

20 January 2025

Change Up @ Kennington Cross

Statement of Financial Activities
for the period 1 April 2023 to 30 September 2024

period
1/4/23
to year ended
30/9/24 31/3/23
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 2,547 - 2,547 5,366

Investment income 3 14,971 - 14,971 15,468
Total 17,518 - 17,518 20,834

EXPENDITURE ON
Charitable activities 4
Donations to North Lamberth Parish 49,362 - 49,362 -

Other 12,809 - 12,809 24,782
Total 62,171 - 62,171 24,782

NET INCOME/(EXPENDITURE) (44,653 ) - (44,653 ) (3,948 )


RECONCILIATION OF FUNDS
Total funds brought forward 44,653 - 44,653 48,601

TOTAL FUNDS CARRIED FORWARD - - - 44,653

Change Up @ Kennington Cross (Registered number: 07604236)

Balance Sheet
30 September 2024

2024 2023
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
CURRENT ASSETS
Debtors 8 - - - 4,495
Cash at bank - - - 42,811
- - - 47,306

CREDITORS
Amounts falling due within one year 9 - - - (2,653 )

NET CURRENT ASSETS - - - 44,653

TOTAL ASSETS LESS CURRENT
LIABILITIES

-

-

-

44,653

NET ASSETS - - - 44,653
FUNDS 10
Unrestricted funds - 44,653
TOTAL FUNDS - 44,653

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.


The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


Change Up @ Kennington Cross (Registered number: 07604236)

Balance Sheet - continued
30 September 2024

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


The financial statements were approved by the Board of Trustees and authorised for issue on 12 December 2024 and were signed on its behalf by:





Mr M R K Freeman - Trustee





Ms F J Walshe - Trustee

Change Up @ Kennington Cross

Notes to the Financial Statements
for the period 1 April 2023 to 30 September 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Change Up @ Kennington Cross

Notes to the Financial Statements - continued
for the period 1 April 2023 to 30 September 2024

2. DONATIONS AND LEGACIES
period
1/4/23
to year ended
30/9/24 31/3/23
£    £   
Donations 2,547 5,366

3. INVESTMENT INCOME
period
1/4/23
to year ended
30/9/24 31/3/23
£    £   
Rents received 14,971 15,468

4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
£   
Donations to North Lamberth Parish 49,362

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30 September 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the period ended 30 September 2024 nor for the year ended 31 March 2023.



Change Up @ Kennington Cross

Notes to the Financial Statements - continued
for the period 1 April 2023 to 30 September 2024

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 5,366 - 5,366

Investment income 15,468 - 15,468
Total 20,834 - 20,834

EXPENDITURE ON


Other 24,782 - 24,782

NET INCOME/(EXPENDITURE) (3,948 ) - (3,948 )


RECONCILIATION OF FUNDS
Total funds brought forward 48,601 - 48,601

TOTAL FUNDS CARRIED
FORWARD

44,653

-

44,653

7. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 838 187 3,242 4,267
Disposals (838 ) (187 ) (3,242 ) (4,267 )
At 30 September 2024 - - - -
DEPRECIATION
At 1 April 2023 838 187 3,242 4,267
Eliminated on disposal (838 ) (187 ) (3,242 ) (4,267 )
At 30 September 2024 - - - -
NET BOOK VALUE
At 30 September 2024 - - - -
At 31 March 2023 - - - -

Change Up @ Kennington Cross

Notes to the Financial Statements - continued
for the period 1 April 2023 to 30 September 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Rent deposit - 1,495
Prepayments - 3,000
- 4,495

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,213
Accrued expenses - 1,440
- 2,653

10. MOVEMENT IN FUNDS
Net
movement At
At 1/4/23 in funds 30/9/24
£    £    £   
Unrestricted funds
General fund 44,653 (44,653 ) -

TOTAL FUNDS 44,653 (44,653 ) -

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 17,518 (62,171 ) (44,653 )

TOTAL FUNDS 17,518 (62,171 ) (44,653 )


Change Up @ Kennington Cross

Notes to the Financial Statements - continued
for the period 1 April 2023 to 30 September 2024

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1/4/22 in funds 31/3/23
£    £    £   
Unrestricted funds
General fund 48,601 (3,948 ) 44,653

TOTAL FUNDS 48,601 (3,948 ) 44,653

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 20,834 (24,782 ) (3,948 )

TOTAL FUNDS 20,834 (24,782 ) (3,948 )

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 30 September 2024.