The Trustees present their report and financial statements for the year ended 31 March 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's Memorandum and Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20 19 ).
The Trustees have complied with the duty in Section 17 (5) of the 2011 Charities Act to have paid due regard to guidance issued by the Charity Commission in relation to the activities being for the public benefit. The report is prepared in accordance with the small companies' regime (Section 419 (2) of the Companies Act 2006).
Selby Trust's Memorandum and Articles of Association state that the purpose of the charity is to promote local people's educational advancement and the provision of facilities that support social welfare, leisure and recreation and improve life chances in Haringey and neighbouring areas.
The Trust manages its facilities at the Selby Centre under the motto of "Many Cultures One Community" and attracts over 1 3 0 charities, social and community led enterprises, sports clubs, faith-based groups, training providers and local entrepreneurs.
In this context, the Trust satisfies the Public Benefit aspects in respect of the advancement of education and fee charging by providing community facilities that are affordable. Facilities are utilised by a wide range of disadvantaged groups and communities facing impoverished circumstances for educational and leisure purposes.
Principal aims and objectives
The Selby Trust's charitable objects are given below and are taken from our governing document, the Memorandum and Articles of Association.
The Selby Trust's objects are:
(a) to promote for the benefit of the public residents in the London Borough of Haringey and neighbouring areas without distinction of sex, race, colour or political or religious or other opinions by the advancement of education and provision of facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of life of the said inhabitants;
(b) to maintain and manage a community centre at Selby Road, Tottenham, London, N17 8JL for activities promoted by the centre in furtherance of the above objects.
Our Values
We treat all people with dignity and respect regardless of race, nationality, gender, sexual orientation, disability and age. At all times, people’s feelings will be valued and respected. Everyone is welcome and this is how we achieve many cultures, one community.
We value the contribution made by members, volunteers, staff, consultants, trustees, statutory and community and corporate partners. We will use their time and resources responsibly and efficiently.
We value the asset we have at the Selby Centre and operate in a manner that allows the community maximum access and benefit from the facilities.
Staff, consultants and trustees work together in an open and honest manner to ensure the positive operation of the Selby Trust and the Selby Centre.
We are committed to lowering our carbon footprint as a learning, social and economic community. By doing so we will save money and generate employment in the green economy.
Vision
To sustain the Selby Centre as an asset of community benefit that enables people of many cultures to come forward as one community creating a place where they can move forward, fulfil their potential and make Tottenham a vibrant and diverse place to live and work.
Working with LB Haringey, local community and other stakeholders we will create an integrated, inclusive, healthy, sustainable, diverse, connected urban village.
Mission statement
Deliver a consolidated, new, sustainable, community flagship hub, underpinned by an asset transfer, that provides a base for local community organisers and 130+ diverse social action organisations and community businesses they lead at the Selby Centre with new partners, to create lasting exits from local inequalities with opportunities to achieve social value.
Objectives, activities, achievements and performance
The Selby Centre was established by Haringey Council in 1986 as a result of a community campaign for a sizeable community hub to house diverse services and communities with a dedicated centre that was affordable and local people could call ‘home’.
The Council ran the Selby Centre for its first 4-5 years until 1991, after which the community managed it directly.
In 1992, more than 25 years ago, the Selby Trust began in partnership with Haringey Council, as the freeholder, to make the Centre a genuinely community-led project, with a resident-led board. The Selby Trust became a company limited by guarantee in May 1993 and successfully registered as a charity in May 1994.
The Selby Trust was supported by the late Bernie Grant MP and we continue to be strongly supported by our current MP for Tottenham, David Lammy, and Catherine West, the MP for neighbouring constituency in Hornsey and Wood Green.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
The mission and objectives are achieved through the following areas of work:
- Community Development
- Economic Development
- Community Environmental Development
- Social Justice and Community Safety
- Community Facilities Management
Broadly, the direction of travel has encompassed:
(i) Community Development
Our community workers are experts at bringing together individuals and grassroots partnerships and consortia in a rich mix of cutting edge services that challenge poverty, injustice and inequality. We have a specialist youth community worker in the area. We are achieving sustainability through incubating social enterprises that promote growth in the local economy whilst serving social and environmental functions. We are identifying and maximising community assets by harnessing skills, enthusiasm and commitment of local residents.
We train people in community organising, believing it to be a strong tool and skillset in building cohesion and togetherness in a divided and unequal society.
We bring communities together by co-locating over 130+ social action organisations in active use of community premises, attracting co-produced services, job programmes, training and other opportunities.
Diverse staff and volunteers facilitate projects in an inclusive and collective manner whilst cherishing different languages, celebrating food and cultures and helping engagement with the people in the community.
Awareness raising and discussion events tend to be well attended, drawing people out of social isolation, into the heart of debates and increasing involvement in civic society, holding institutions and politicians to account, and raising awareness of services, consultations, and opportunities.
(ii) Community Economic Development
The Selby Trust aims to assist people from diverse backgrounds with different needs to acquire the skills, confidence, networks and knowledge necessary for them to develop solutions to life’s challenges. We aim to achieve sustainability through social enterprise approach that provides revenue for the centre, allows us to incubate and develop other enterprises, foster their financial independence and supports the delivery of activities that promote growth in the local economy.
The Selby Trust is a multi-purpose community asset, in which the underlying economic inequalities are often addressed through a wide range of key actions and opportunities available through our work and onsite.
We organise networking and information workshops, drawing community businesses, social enterprises and community groups together to benefit from new knowledge.
The Selby Trust continues to maintain and develop The Selby Centre as a social and community enterprise hub that enables community resilience by supporting communities to positively respond to economic, social and environmental challenges.
Financial security is hard to achieve at the best of times and is certainly challenging in the persistent worst of times. Much economic capital emerges out of the social and community capital for Tottenham, generated here at our social action hub.
(iii) Community Environmental Development
At the Selby Centre, we have established space for many environmental enterprises. The Selby Trust now recycles bikes, grows fruit and vegetables and stimulates the creative use of textiles. Together this helps achieve our triple bottom line – integrating green values with positive social and economic outcomes. In the future, we have plans to green the Selby Centre as part of a wider Selby Centre and Bull Lane site development by ensuring the new facilities deliver low carbon usage as a model of good practice.
We aim to transform the environment at the Selby Centre by establishing space for environmental activities that make it a nicer place to be in. We attract and sell on office furniture affordably to community groups to avoid landfill and improve energy efficiency.
The Selby Trust now recycles bikes, grows fruit and vegetables with volunteer help, stimulates the creative use of textiles, and offers energy-saving advice.
Together this helps achieve our triple bottom line – integrating green values with social and economic outcomes.
(iv) Social Justice and Community Safety
We promote community safety and social justice to encourage safer neighbourhoods, and work to reduce violence and anti-social behaviour by creating opportunities for young people, older people, women and ex-offenders. We build strong relationships between communities, police and youth offending services in the context of seeking justice and transparency. We are actively supporting ex-offenders in rehabilitation.
We reach into communities and find ex- offender s, as peer supporters, mentors and train them as advisors. They often provide the listening ear that others cannot and better understand the conditions under which street violence and drug running takes place, and can be prevented, support provided and lives be saved.
We seek to establish a pathway model that can transform attitudes and accelerate the availability of options in employment, self-employment, co-operatives and social enterprise that are alternatives to reoffending and reduce entry into gangs and anti-social behavio u r.
(v) Community Facilities Management
Maintaining the centre as a community facility which is well used by over 130 grassroots organisations that bring together a rich mix of cutting edge services and ideas. We attract up to 600 people a day on a regular basis. We rent office spaces to community businesses, social enterprises and charities. We also offer a variety of multi-purpose rooms and halls for community activity that includes sports, health and well-being, fitness, dance, meetings, learning, job support and conferences. The Selby Trust is more than a landlord and facilities manager as we bring together tenants that can serve the needs of the local community, support them with training and capacity building and share knowledge about new sources of funding and partnerships. This growing pool of knowledge and expertise has allowed the Selby Trust to maintain a consistent occupancy rate of 98 – 100%.
Funding and supporting organisations
Black Training Enterprise Group
Big Potential Advanced
Bridge Renewal Trust
City Bridge Trust
Community Organisers Limited
Community payback
FW Business Limited
Greater London Authority (GLA) Young Londoners Fund Local Network
GLA Regeneration
Haringey Fairness Commission
Heritage Lottery Fund
High Trees Community Development
Locality
London Borough of Haringey
Macmillan Cancer
Middlesex University
Power to Change
Redbull
Social Investment Business (SIB)
Smart Urban Limited
Project highlights
A diverse range of social action projects and activities take place and the table below outlines the key highlights:
2019/20 |
||
Project Name |
Aim and Objectives |
Outcomes |
Community volunteering |
Supporting the community organisers activities, connected communities project, project development, research, environmental health issues and general site maintenance. |
This year 35 volunteers have taken part at the Selby Centre on volunteering days to help maintain it and work in the office on a range of social action projects. |
Connected communities |
Advice, support & capacity building to migrant communities. |
Stronger & more active community increased migrant participation, pride & satisfaction & enhanced community cohesion. So far, we have:
|
Corporate Volunteering |
Maintenance support throughout the centre, painting, garden maintenance and site clearance |
260 volunteers have taken part at the Selby Centre on volunteering days to help maintain it. The following companies provided employee volunteers and financial support for maintenance equipment and resources during the year:
|
Green Wheels |
Improving community travel opportunities. |
Encourage individuals to both taste and ultimately switch to cycling. In total 185 people participated in bike maintenance and cycling of which:
|
Last man standing |
Preserve the undocumented & endangered cultural music of Irish traveller community. |
• Prepare booklet & music CD & distribute to schools, colleges, libraries & archives. • 1000 copies of the CD and booklet have been pressed, printed and we have taken delivery.
|
Social Action Hub |
Preserve the undocumented & endangered cultural music of Irish traveller community. |
56 people participated in the following training programme:
2 permanent employments created and School of Social Entrepreneurs organised an event funded by Red Bull, which involved 32 participants. |
Space to think initiative |
Coordinate and facilitate two sessions on different themes 'a space to think' around key policy areas. |
Each session was attended by at least 30 participants. |
Young Londoners Fund Local Networks |
Develop organisations working with young people in Haringey and Enfield as part of the Mayor of London Young Londoners Fund (YLF) |
• Deliver training and development opportunities for frontline professionals working with young people to skill up the local youth sector. • Provide information and support on funding opportunities for organisations working with young people in Enfield and Haringey to increase sustainability of the local youth sector.
|
Secured grant funds for 2020/21 |
||
Project Name |
Time-frame |
Aim and Objectives |
Pilot - Community-centered health & wellbeing |
Dec 2019 to June 2020 |
Create a simple and unobstructed access point at the Selby Centre to support patients offering practical advice and supported signposting into appropriate health-related services. |
Smarter Travel - Green wheels |
Feb 2020 to March 2021 |
Improving community travel opportunities |
Community Asset Fund |
April 2020 to May 2020 |
Sports hall facilities refurbishment |
Selby Urban Village development |
June 2020 to March 2021 |
Development Manager post |
Selby Food Hub |
May 2020 to Nov 2020 |
Developing a range of COVID-19 response services including a food hub, expand volunteering and other social activities. |
COVID-19 impact support |
June 2020 to Aug 2020 |
Financial recovery from COVID-19 |
COVID-19 Community Support Fund |
Oct 2020 to March 2021 |
To continue to deliver activities to people affected by the pandemic. Focus to improve infrastructure, sustaining food hub, provide support to sports partnership group and provide community care through bereavement training sessions. |
Secondment - Marketing & engagement Intern |
Sep 2020 to Nov 2020 |
Marketing and promotion of all projects and activities at the Selby Trust including the projects related to Selby Urban Village. |
COVID emergency grant |
Sep 2020 to Oct 2020 |
Support cancer patients |
Community Organisations Support Grants |
Oct 2020 to March 2021 |
Financial recovery from COVID-19 |
COVID recovery |
Oct 2020 to April 2021 |
Creating maintenance & flexible arrangements, support to staff and licensees |
Tackling inequalities fund |
Dec 2020 to July 2021 |
Help reduce impact of COVID-19 in sport & physical activities |
The above projects represent secured forward project funding in excess of £430,000.
The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the Trustees to present a strategic report.
The Selby Trust has maintained its healthy financial progress from the prior year in generating a small surplus as it continues making consistent progress to eliminate its deficit.
The Selby Trust has generated an overall surplus of £ 73,288 , which is achieved by sustaining a high level of existing usage at the Selby Centre whilst reducing its overhead and maintenance costs.
The total restricted fund balance was £ 3,621 at the year-end. The restricted fund balance is comprised of either funders monies unexpended as at the year-end or monies expended by the Trust on projects which is still to be recovered from funders as at the year end. A breakdown of the relevant projects is provided in the notes to these financial statements.
The total unrestricted (designated) fund balance was £ 84,641 at the year end. A breakdown of the relevant projects for this fund is provided in the notes to these financial statements. The total unrestricted (general) fund balance is in a surplus of £ 322,079 at the year end.
The Trust's fundraising strategy is to develop a secure future by securing a longer lease and to work towards a future site redevelopment, by maximising social value and impact through relevant prevention and proactive action that reduces inequality, poverty and discrimination.
The Trust has increased its utilisation of grant programmes for community benefit by seeking to distribute grants at a grassroots level.
We are seeking to further develop the concept of minimising competition for less charitable income for direct delivery, by opting for funds that pay for social infrastructure, addressing gap areas in which we can incubate solutions with communities and social entrepreneurs, and work with local people to identify their own solutions and help them grow.
Reserves policy
In line with the Board of Trustees policy established in 2017, the Trust is working towards implementing the policy of building up at least 12 months' worth of operating costs as reserves. The rationale for this is as follows:
Enable the Selby Trust to continue to deliver high-quality service and standard of work in a challenging context of deprivation, older buildings and multiple disadvantage facing local communities by working as a proactive and responsive community-led development trust.
The Selby Trust achieves this by generating income from the hire of facilities and reinvests a percentage of these back into community projects that meet community needs.
Earnings come from a number of community organisations who hire facilities, which may be vulnerable to a range of factors that can lead to their demise and inability to pay rent. Should the Centre fold for any reason, it will need to give notice to licensees and users.
Therefore, to be able to sustain opening hours, and a functioning site, and our own social change projects that connect not just to the voluntary sector (which can tend to focus on what funding requirements are to partly meet community and resident needs) but directly to communities and support responses to their broader and specific needs.
Risk management
The Trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The trustees who regularly review and assess risks to which the charity is exposed, have prepared a risk register and have put in place systems or procedures to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and expenditure, reflected in a financial controls policy.
Stakeholder engagement and dialogue with Haringey Council, NHS Clinical Commissioning Group, Public Health, Probation Service and Metropolitan Police continue to support the holistic model. This can enable celebrating what works at The Selby Centre, how it can further contribute to local service models, take part in co-production, social prescription as an intergenerational hub. This process is a useful contribution towards measuring the social value the Charity brings to the area and addressing what can be improved and how to achieve it. Trustees annually agree a business plan and realistic fundraising strategy to maintain existing income, develop new income sources and seek key targets that are realistic and appropriate. The charity has co-operated with a borough wide review of community buildings, linked to the provision of a rental grant support provided by Haringey Council as a circular non-cash grant. Part of this review involves self-assessment of social value, reflected in a Social Impact Report, which has involved licensees, community associates, consultants, trustees, volunteers and staff building on the work done with a critical friend from Locality, Power to Change Trust, with Haringey Council, and the Mayor’s Office for London.
The charity continues to be in dialogue with Haringey Council regarding its current lease, due to expire in 1.5 years, as external funders have indicated strong interest in redeveloping the site when a longer term lease becomes available. Trustees are developing a longer term plan to achieve site redesign and redevelopment that brings about a modern, energy efficient multi-purpose community hub ready for a new era in Tottenham. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to an ever-increasing number of visitors to the centre. Appropriate and systematic controls are in place to provide reasonable assurance against fraud and error, with a clear anti-fraud policy and adequate financial procedures. These procedures have been reviewed by the Treasurer in conjunction with senior staff and updated as necessary to ensure that they continue to meet the needs of the charity.
The economic climate and contraction in public sector funds continue to restrain growth and charitable fundraising remains exceedingly competitive. Utility saving investment would achieve further surpluses and reduce carbon emissions. Utility costs remain burdensome, although independent energy purchasing is cost effective and efficient. The Trust has a stable relationship with its bank, which acknowledges the charity's prudence and sustained financial improvement.
Covid-19:
At Selby Trust, we have suffered from a serious loss of income and have therefore needed to furlough staff. Following Government guidelines, the centre closed on 21st March 2020, resulting in an immediate shortfall trading income. However, we know that we are not unique with this regard as most voluntary sector organisations are faced with similar financial challenges. Nonetheless, we have acted very quickly to needs within the organisation and community, at a time when most of us, remain concerned about our safety and wellbeing. Here are things we have done so far:
• Conducted risk assessment of site and established risk assessment protocols for licensees, staff and centre users.
• Per the government, guidelines closed the centre with exceptional acces s to ‘designated key workers’ only.
• P rovided remote working arrangements for staff both via online (team viewer, zoom, MS team) and telephone conference.
• Supporting licensees’ with COVID-19 applications and bids, this is reflected in the following section.
Reduced on-site staff (Duty Officer, Security) to emergency covers only.
Encourage furlough staff to do volunteering.
Providing voluntary skills development opportunities for furloughed staff.
Provide regular updates to licensees’ on COVID-19 via emails and website.
The organisation put dedicated resource into fundraising for offsetting trading losses from income via rents, parking, hiring meeting spaces and sports hall.
Campaigned for volunteers to serve the community in current difficult times through the ‘Food Hub’ initiative at Selby Centre. The ‘Food Hub’ initiative is conducted at the Selby Centre with proper safeguarding and health and safety measures. For instance:
All volunteers/staff have been issued a washable mask for their own exclusive use.
We have a good supply of disposable gloves which are issued to volunteer/staff upon arrival and then again when the role changes to distribution.
All food packages are pre-packed and given by leaving on the table for the beneficiary to collect. There is no direct exchange.
Volunteers and staff are practising social distancing while sorting/packaging.
Plans for the future :
The Selby Centre site is 150,000 square feet, which is in the process of redevelopment, and we are working collaboratively with the Haringey Council to create an integrated, inclusive, healthy, sustainable, diverse, connected ‘urban village’ on the site. The 'urban village' development is based on a mixed-use scheme, which involves - building 200 housing units, leisure facilities and the Selby Centre redevelopment. This 'urban village' development will be carried out in phases so that we are visible, continue to provide our services to the community, and shift to the new premises effortlessly.
At the Selby Centre, we cherish and recognise that in parallel to this physical transformation, it is a necessity to conserve our community-led approach, whereby, our experts/partners play an important role. These include people and organisations from the environmental sector, education institution, statutory services, the third and private sectors. This wide range of partners ensures every part of civil society is involved.
As part of our long-term redevelopment plan in partnership with the Haringey council we have laid out the following vision:
creation of a new centre that will be efficient to run and enable excellent place making, green futures and vibrant communities together with other uses. The mix of uses will include housing, workspaces, community space, sports leisure and green spaces.
The Selby Trust will be retained in the development site to preserve the embedded value of the community networks and ensure financial viability to continue the delivery of local social, economic, and environmental impact.
the objectives of redevelopment are – housing, community, sports & recreation, connectivity, sustainability, viability and finance.
As part of our partnership with the council, they are keen for us to begin to develop the skills of our staff, licensees and neighbourhood. This capacity building of the community will allow us and the community to have a role to play as the new ‘urban village’ emerges.
Above all else, we will maintain and redevelop the Selby Centre so it can remain as a central place that develops, organises and strengthens Tottenham while empowering the people who live here. Specifically, this will include actions to:
• Maintain the building throughout the process, ensuring health and safety, business continuity and a positive approach to customer care, maximizing the offer to those people using our food bank, health services and disability support
• Design the future – the site’s future redevelopment will include community, leisure and housing
• Raise resources to contribute towards the site redevelopment
• Bring on board new and existing partners into the Selby partnership to reflect local needs and interests
• Staff, volunteers and board development and training required during the development of The Selby Trust and Centre.
• Develop community organising and integrate into all aspects of the Trust’s work
• Increase and further diversify income sources to cover future costs redevelopment and some services.
The Trust is a company limited by guarantee, incorporated on 4 May 1993 and registered as a charity on 16 November 1994. The T rust's reference and administrative details are set out on the Legal and Administrative Information page . The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association .
The board has committed to the implementation of the Voluntary and Community Sector’s Code of Good Governance as part of our governance framework.
The Board of Trustees
The Trustees, who are also the directors for the purpose of company law, and who served during the year were:
Mr G Gilfillian (Resigned 19 December 2019)
Mr J Clarke
Ms S Nwimo
Mr E Ihejirika
Mr N Makanji (Resigned 4 April 2019)
Cllr A Stennett
Mr A Desai (Resigned 24 September 2020)
Dr V Olisa
Mr M Kayoka-IIunga (Resigned 19 December 2019)
Mr R Danso
Mrs L D Neves
Mrs S Fitzsimmons
Mr M Hakata
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Recruitment, appointment and terms of office of Trustees
The Selby Trust benefits from a strong, diverse and experienced board of Trustees, drawn from Haringey and neighbouring areas. Trustees bring together skills and knowledge from running charities, businesses, hospitals, sports clubs, and service providers. A board of 1 2 brings those who run and utilise The Selby Centre's facilities alongside local people with professional or business experience who comprehend local needs. We are also grateful to the Haringey councillors who generously share their local knowledge and expertise from local government and their respective fields, in policy, grantmaking, legalities, and education.
New trustees are recruited from within the Centre, the community of participants, trustee networks, professional contacts, the local council and those who respond to external advertising of the vacancies on The Selby Trust website , twitter feed and online promotions. New trustees complete an application form providing references and indicate their experiences and area of interest and contribution.
Trustee induction and training
Interested candidates are invited to meetings to engage with existing trustees and, if successful in their application to become a trustee, are inducted into the work of the Trust. This involves visits to the Centre, meeting licencees, reviewing documents , plans and then attending board meetings. Trustees are encouraged to meet with the chief executive, staff, consultants, volunteers as well as other trustees in order to familiarise themselves with the charity and the context of its operations.
All existing trustees are now already familiar with the practical work of the charity, but often take up the opportunity to refresh their knowledge about the Centre by visiting informally as well as attending meetings taking place at the Trust to keep themselves up-to-date. The charity has a strong and experienced board, supplemented now by new trustees that can continue to help raise the profile and bring in additional expertise in certain areas.
Induction procedures are in place for new trustees as are mechanisms to keep all trustees abreast of developments in the sector e.g. by attending meetings, training and conferences.
Operations and staffing
The trustees delegate day to day management of the charity to the C hief E xecutive, Paul Butler , who is supported by h is Senior Management Team to deliver the aims and objectives of the charity .
Related parties
There were no material disclosable related party transactions during the year.
In accordance with the company's articles, a resolution proposing that RDP Newmans LLP be reappointed as auditor of the company will be put at a General Meeting.
The trustees' r eport, including the strategic report, was approved by the Board of Trustees.
The Trustees, who are also the directors of The Selby Trust 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 Trust 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 Trust 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 Trust 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 Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
So far as each person who was a trustee at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the trustee s individually have taken all the necessary steps that they ought to have taken as trustee s in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
Opinion
We have audited the financial statements of The Selby Trust (the ‘Trust’) for the year ended 31 March 2020 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) .
In our opinion, the financial statements:
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Trust’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of our audit:
the information given in the trustees' Report, which includes the d irectors’ r eport and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the d irectors’ r eport included within the trustees' r eport have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Trust and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the d irectors’ r eport included within the trustees' r eport.
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report including the Strategic Report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us;
the financial statements are not in agreement with the accounting records and returns;
we have not received all the information and explanations we require for our audit.
t he directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companiesʼ exemption in preparing the directorsʼ report.
As explained more fully in the s tatement of trustees' r esponsibilities, the Trustees, who are also the directors of the Trust for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Donations and legacies
Other incom e
The Selby Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Selby Centre, Selby Road, Tottenham, London, N17 8JL. The trust is registered at the Charities Commission with a registration number 1042095.
The accounts have been prepared in accordance with the Trust's governing document, 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)” (as amended for accounting periods commencing from 1 January 2016). The Trust is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the Trust. Monetary a mounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust 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.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.
Restricted funds are subject to specific conditions by donors 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.
Donated services and gifts in kind are included at the value to The Selby Trust where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Grants received are accounted for as receivable as and when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to performance condition is recognised (as the related goods or services are provided). Grant income included in this category provides funding to support activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Advance payments received during the year for activities to be carried out in later financial years are not reflected in the statement of financial activities. The amounts have been deferred to the financial year in which the activities will be carried out and are reported as deferred income. Deferred income is included within creditors.
Other trading activities income includes r ental income which is recognised when receivable.
Investment income is recognised on a receivable basis.
Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that result in the payment being unavoidable.
Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities include both the direct and support costs relating to these activities.
Governance costs include the cost of any legal advice to trustees on governance or constitutional matters, external accountancy and audit costs.
Support costs include central functions and have been allocated to the different categories of activities based on the time spent on each activity.
The trust is not registered for VAT so all expenses shown in the statement of financial activities and notes to the accounts are shown gross (i.e. inclusive of VAT).
Tangible fixed assets are initially measured at cost and subsequently 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 bases:
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 net income/(expenditure) for the year.
At each reporting end date, the Trust 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 ) .
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.
The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Trust's balance sheet when the Trust 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, which include debtors 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.
Basic financial liabilities, including creditors 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 p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.
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 Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.
Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are included in other income .
Volunteers
A substantial contribution to the activities of The Selby Trust is supplied in the form of voluntary services for supporting the charity and providing administrative services. The financial benefit of these non-cash donations have not been recognised in these accounts as by their nature it would be impractical to quantify in monetary terms.
In the application of the Trust’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.
In the view of the Trustees, there are no significant estimates or judgements.
Donations and legacies
Grants receivable for core activities
During the year a circular grant of £163,000 (2019: £163,000) was received from London Borough of Haringey (L B Haringey) to fund the occupation of its premises.
Other incom e
Staff costs and depreciation
Staff costs and depreciation
Expenditure on raising funds
Rent
Expenditure on raising funds
Activities undertaken directly
Activities undertaken directly
General expenses
Support costs and governance costs are apportioned in accordance with the proportion of staff time spent on each non-admin activity. Support costs include conference costs, travel costs & staff welfare costs. Staff costs included within support costs comprise time spent by staff on general administrative work.
The analysis of auditor's remuneration is as follows:
None of the Trustees (or any persons connected with them) received any remuneration during the year, nor were they reimbursed for any expenses.
The average monthly number of employees during the year was:
Staff costs have been apportioned across the various charitable activities of the company on a time basis.
The outstanding pension contributions at the reporting date were £1,365 (2019: £904).
Audit fees
Subscriptions
Legal and professional fees
The Charity is exempt from tax on income and gains falling within section 505 of Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
During the year, a surplus of £11,824 on the The Big Lottery Fund had arisen which was transferred to unrestricted funds, leaving a deficit from prior year of £7,954 being carried forward. The deficit is to be covered by future income which is receivable next year.
During the year, a surplus of £2,422 from the Community Organisers Ltd - The Social Action Hub project had arisen. The surplus was transferred to unrestricted funds as the project has been concluded.
At the year end, the Trust transferred a deficit of £2,428 arising on the City Bridge Trust project from unrestricted funds to conclude the project objectives.
At the year end, a deficit of £3,138 on the Company of Community Organisers (MSO) was funded by the unrestricted funds.
At the year end, a deficit of £3,870 of restricted grant income from GLA Good growth fund project had arisen, which was funded by the unrestricted funds to the Trust to meet the objectives of the project.
Other creditors include deposits.
Deferred income is included in the financial statements as follows:
Deferred income is recognised when rental income received in the current year relate s to subsequent financial years . This is in order to match as far as possibile the incoming resources with the relevant
expenditure.
The company is limited by guarantee. In the event of the company being wound up while someone is a trustee, or within one year afterwards, in the event of there being a deficiency, each trustee will contribute a sum not exceeding £1.
The Selby Centre receive s a circular grant from L B Haringey in respect of rent for which no money is actually received or paid.
During the year a grant of £4,000 was received for Smarter Travel Community project from L B Haringey to encourage local people, including the local residents , to travel sustainably. A n amount of £1,569 was recognised as accrued income at the balance sheet date . The expenditure on this project during the year was £5,569, still leaving a surplus amoun t of £6,789 from prior year on this project to be carried forward to next year to meet further set objectives.
In accordance with The Big Lottery Fund agreement for the year 2018/2019, the Trust was expected to receive a total grant of £58,392 on the basis of pre-set milestones in place. However, due to the primary focus of the charity being on site redevelopment, the project had been extended as the pre-set milestones were not achieved. During the year an amount of £20,224 was recognised as income. An amount of £8,400 was expended in the year and the Trustees decided to transfer an amount of £11,824 from restricted funds to un restricted funds at the year end . Therefore , the deficit of £7,954 from prior year is being carried forward to next yea r which will be utilised by grant income. The project is due to be completed by the next financial year.
During the year, the Trust received funding of £13,12 4 from Community Organisers Ltd for the Social Action Hub Grant, where training is provided to individuals with regards to community organising. An amount of £6,879 was recognised in the prior year as deferred income which has been released in the current year as income. The project is now complete and the surplus of £2,422 was transferred to unrestricted funds.
During the year, the Trust received funding of £5,000 from the City Bridge Trust toward the research into community finance mechanisms. An amount of £4,040 was recognised in the prior year as deferred income which has been released in the current year as income. The project has been completed and the deficit of £2,428 was transferred from unrestricted funds.
The Trust obtained funding from the Company of Community Organisers (MSO). Whilst the project targets had all been achieved in the prior year, further amounts of £3,138 were expended in the year. The project is now complete and the deficit of £3,138 was transferred from unrestricted funds.
The Trust obtained funding from the Haringey Council in relation to the Connected Communities project to provide advice, support and capacity building to migrant communities. During the year an amount of £50,000 was received. An amount of £8,330 was recognised in the prior year as deferred income which has been released in the current year as income and given that the project outputs have only been partially met an amount of £17,518 was recognised as deferred income. A surplus of £3,701 is being carried forward to meet the objectives of the project, which is due to be com pleted by the next financial year.
Funding for the Last Man Standing project was received by the Trust for preserving the endangered cultural music of the Irish traveller community. Based on measurable outputs which had been delivered during the year, income of £7,056 has been recognised in the financial statements. A surplus amounting to £6,283 is still being carried forward to next year to be utilised towards the set objectives .
During the year, the Trust received £56,440 from the Greater London Authority Network to help young children fulfil their potential, particularly those at risk of getting caught into crime. Given that the project outputs have only been partially met an amount of £19,298 was recognised as deferred income. Therefore a deficit of £5,197 is still being carried forward to next year.
During the year , funding was secured from the Greater London Authority towards the completion of an occupier, workspace and business planning study and project management costs for delivering the new community space on the Selby Centre site. An amount of £49,643 was received in the year. The project is now completed and the deficit of £3,870 was transferred from unrestricted funds.
During the year , the Trust secured funding from Macmillan Cancer trust towards a pilot project to test the concept of dedicated space at the Selby Centre where social and community activities blend with health services and shared workspaces. An amount of £15,000 was received in the year, however , as the pre-conditions of the grant were not met during the year (due to the Covid -19 pandemic), an amount of £14,736 was recognised as deferred income .
The trustees are satisfied that sufficient resources are held in an appropriate form to enable each fund to be applied in accordance with any restrictions.
Global Garden project funds are designated to be spent in the future on expenditure relating to seedling propagation, construction of raised beds and developing plans to make a roof garden.
Positive Youth News Haringey project funds are designated to boost local acknowledgement and pride of young people.
The Energy Efficiency Repairs Fund and Sports Hall Changing Room Refurbishment Fund were set aside by the trustees to meet the costs of essential building and repair works to be carried out at the Selby Centre.
The trust has given security in favour of The Co-operative Bank plc, by way of a fixed and floating charge over it s assets. At the balance sheet date no amounts were secured (2019: £Nil).
There were no material disclosable related party transactions during the year (2019 - none).
The remuneration of key management personnel is as follows.
The Trust had no debt during the year.