How we are funded

Funding Overview

Financial Year
Ending 31 March 2018
Income
£252,467
Spending
£725,523
Annual Report

The South Kilburn Trust was set up and registered as a new independent charity in 2009 following the end of the New Deal for Communities (NDC) programme. Through a formal legal agreement with Brent Council, the remaining funding from the NDC was provided to the South Kilburn Trust to continue to benefit the residents of South Kilburn. The spending of this legacy is overseen by the Board of Trustees. A representative from Brent Council is always a member of the Board. 

The South Kilburn Trust is focused on using this legacy funding in two main ways - to own and manage a building for local residents, organisations and businesses to use; and to provide services to local people, either directly ourselves or in partnership with others. 

The South Kilburn Trust generates additional sources of income including from sponsorship and grants, and from renting our venue and our two properties. We own two flats in South Kilburn which will be demolished as part of the regeneration of the area, and will be bought back from us by Brent Council. 

In the financial year ending 31 March 2018, we brought in £252,467 of income, and spent £725,523. This means we used £473,956 of our legacy funding.

As of 31 March 2018 (the end of the last accounting period that was independently audited), the funding the South Kilburn Trust holds is £4,812,977, which includes cash and the value of two properties owned by the Trust. Of this, £2.15m has been allocated to the creation of a permanent Community and Enterprise Hub in South Kilburn, £2m has been set aside for the Trust to find ways of securing a long term income for the organisation, and the remainder as a contingency to cover ongoing running costs.

Every year an independent auditor conducts a full audit - or inspection - of our accounts to make sure our finances are correct and being managed properly. For full details of The Trust's finances, please go to The Charity Commission where you can download our annual report and independently audited accounts.

In terms of staff pay, we benchmark salaries across the sector and where appropriate seek advice from an independent adviser to conduct a more in-depth analysis on the right pay for the role. Every year the Trust offers an inflationary increase, and more recently we have used NCVO, the umbrella body for the voluntary sector, as our guide to what increase to offer. In 2018 all staff received a 2% inflationary increase. 

2018 SOUTH KILBURN TRUST | REG. CHARITY NO. 1128515