REGISTERED COMPANY NUMBER: 01528035 (England and Wales) REGISTERED CHARITY NUMBER: 1000793 Trustees, Report and Unaudited Financial Statements for the Year Ended 31 March 2024 for Fakenham Community Campus Trust Limited Stephenson Smart (East Angl ia) Limited 10 Oak Street Fakenham Norfolk NR219DY
Fakenham Community Campus Trust Limited Contents of the Financial Statements for the Year Ended 31 March 2024 Page Tru5tee5' Report Independent Examiner's Report ststement of Flnan¢ial Activities Statement of Financial Posltlon Statement of Cash Flows Notes to the Statement of Cash Flows Notes to the Flnancial Statements 10 to 17 Detailed Statement of Financlal Actlvltles 18
Fakenham Community Campus Trust Limited Trustees, Report for the Year Ended 31 March 2024 The trustees who are also directors of the charity for the pvrposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustee5 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 IFRS 1021 (effective l January 20191. Objectives and activities Objectives and aims The company's principal objective continues to be that of the advancement of education and the provision of facilities, in the interests of social welfare, for recreation and leisure-time occupation in the Fakenham area. The charity aims to make a wide range of activities available to the local community. Our premises hosts weekly activities such as dance classes, yoga, Citizens advice, FADLOS. blood donors, health services and many others. The charity has complied with the duty of the trustees in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. Achievements and performance The trustees are satisfied with the achievements and performance during the year. As the effects of the Covid 19 pandernic continue to reduce, room hire has increased to £58,768 12023.. £44,170). A new online system was also introduced this year which has improved how user bookings are made and invoiced. Financial revlew Total incoming resources from established revenue Streams have increased again from last year. Grants received from Groundwork UK amounting to £l,00012023.. £5001 and donations received from Fakenham Beer Festival amounting to £1,750 12023.. Nill. The charity also received bank interest of £56012023.. Nill. Overall income for the year to 31st March 2024 therefore increased to £62,076 12023.. £44,671). Total expenditure has increased to £56,236 12023.. £52,893) due to increased utility Costs. Combined this ha5 given a net surplus of £5,840 compared to a net deficit of £8,222 in the previous year. As at 31st March 2024 the charity held unrestricted reserves of E94,71812023.' £83,4001 and restricted reserves of £49,30212023.' £54,780). The committee are in the process of assessin8 risk and are formulatin8 plans to mitigate those areas of risk. The company's unrestricted reserves policy is to have eriough free reserves to allow for an large repair work. Currently the free unrestricted reserves are satisfactory for the company's expected needs. Plans for future periods The company continues to look to improve areas of the buildi n8 such as the rear garden, as well as looking to increase use of the centre via improvements to the website and social media communicalion5. Structure, governance and management Governing document The charity Is controlled by it5 governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Fakenham Community Campus Trust Limited Trustees, Report for the Year Ended 31 March 2024 Structure, governance and management The Fakenham and District Community Centre Limited wès established by Memorandu m of Association on 17 October 1980, to run the Community Centre on behalf of North Norfolk District Council. On 31 December 2012 the companv changed its name to Fakenham Community Campus Trust Limited and on 6 June 2013 the company adopted a new Memorandum of Association. The purpose of these changes was to modernise the company's constitution and to better reflect the company's intention to expand the current community centre's operations and involvement with the Fakenham Community Campus project. Legal status The company is limited by guarantee and has no share capital. The liability of member5 is limited to a sum not exceeding £25. Organisation The company is managed by a committee of rnanagement which meets throughout the year. The committee has the power to appoint new members. New trustees are given adequate induction for training. Flnanclal controls The committee makes decisions about the way the charity is run and keep an eye on budgetary matters.The committee's policy is to build up reserves in order to be able to keep those areas of the centre which the committee is responsible for in 3 good state of repair. Investment powers and restrictions The committee can undertake investments which are legal, while bearing in mind its main objectives. Reference and administrative details Registered Company number 01528035 IEngland and Wales) Registered Charity number 1000793 Registered office The Community Centre Oak Street Fakenham Norfolk NR219DY Trustees Mr R G Crook M5HMDeLyon MrT E Summers B5cACA Mrs B Bratt Mr5 J Holdorn Ms P J Bucknell Company Secretary Mr R G Crook
Fakenham Community Campus Trust Limited Trustees, Report for the Year Ended 31 March 2024 Reference and admlnistrative details Independent Examiner Mr Mike Rowles FCCA Stephenson Smart IEast Anglial Limited 10 Oak Street Fakenham Norfolk NR219DY Approved by order of the board of trustees on and signed on its behalf by.. Mrs Trustee
Independent Examiner's Report to the Trustees of Fakenham Community Campus Trust Limited Independent examiner's report to the trustees of Fakenham Community Campus Trust Limited {'the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in acctsrdance with the requirements of the Companies Act 20061'the 2006 Act'l. 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 Att 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examiner'5 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.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act,. or the accounts do not accord with those records,. or 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,. of 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 lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the U K and Republic of Ireland IFRS 10211. 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 Mike Rowles FCCA The Association of Chartered Certified Accountants Stephen50n Smart IEast Anglial Limited 10 Oak Street Fakenham Norfolk NR219DY Date..
Fakenham Community Campus Trust Limited Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted fund Restricted funds Notes Income and endowments from Donations and legacies 2,748 2,748 501 Charitable activlties Charitable 58,768 58,768 44,170 Investment income 560 560 Total 62,076 62,076 44,671 Expenditure on Charitable activities Charitable 50,758 5,478 56,236 52,893 NET INCOMEIIEXPENDITUREI 11,318 15,4781 5,840 18,2221 Reconclliation of funds Total funds brought forward 83,400 54,780 138,180 146,402 Total funds carrled fonvard 94,718 49,302 144,020 138, 180 The notes form part of these financial statements
Fakenham Community Campus Trust Limited Statement of Financial Position 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted fund Restricted funds Notes Fixed assets Tangible assets 34,510 49,302 83,812 90,947 Current asset5 Debtors Cash at bank and in hand 8,957 56,331 8,957 56,331 6,807 44,038 65,288 65,288 50,845 Creditors Amounts falling due within one year 15,0801 15,0801 13,6121 Net current assets 60,208 60,208 47,233 Total assets less current IlabllSties 94,718 49,302 144,020 138, 180 NET ASSETS 94,718 49,302 144,020 138,180 Funds Unrestricted funds Restricted funds 94,718 49,302 83,400 54,780 Total funds 144,020 138, 180 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of it5 financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustee5 acknowledge their responsibilitie5 for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companie5 Act 2006 and preparing financial statements which give a true and fair view of the State of affairs of the charitable companv as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Section5 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. Ibl The notes form part of these financial statements
Fakenham Community Campus Trust Limited Statement of Financial Position continued 31 March 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 and were signed on its behalf by= on Mrs Trustee Mr T E Summers BSC ACA- Trustee The notes form part of these financial statements
Fakenham Community Campus Trust Limited Statement of Cash Flows for the Year Ended 31 March 2024 31.3.24 31.3.23 Notes Cash flows from operating activities Cash generated from operations Interest paid 14,013 11541 2,933 11191 Net cash provided by operating activities 13,859 2,814 Cash flows from investlng activities Purchase of tangible fixed assets Interest received 12.1261 560 18,8871 Net cash used in investing activities 11,5661 18,8871 Change In cash and cash equivalents In the reporting period Cash and cash equivalents at the beginning of the reporting period 12,293 16,0731 44,038 50,111 Cash and cash equivalents at the end of the reporting period 56,331 44,038 The notes form part of these financial statements
Fakenham Community Campus Trust Limited Notes to the Statement of Cash Flows for the Year Ended 31 March 2024 Reconciliation of net income/{expenditurel to net cash flow from operating attivities 31.3.24 31.3.23 Net income/{expenditure) for the reportin8 period las per the Statement of Financial Activities) Adjustments for.. Depreciation Charges Interest received Interest paid Increase in debtors Increase in creditors 5,840 18,2221 9,261 15601 154 12,1461 1,464 9,763 119 15421 1,815 Net cash provided by operations 14,013 2,933 Analysls of changes In net funds At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and in hand 44,038 12,293 56,331 44,038 12,293 56,331 Total 44,038 12,293 56,331 The notes form part of these financial statements
Fakenham Community Campus Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Accounting policies Basis of preparing the financial statements The financial statements of the chartable company, which is 3 public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 leffective I january 20191,, 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. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make jud8ements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. Incoming resources All incoming resources are included in the statement of financial activities when the entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. the followin8 specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the 8ift, receipt 15 probable and its amount can be measured reliablv. le8acy income is recognised when the receipt is probable and entitlement is established. income from donated goods is measured at fair value of the goods unless thi5 is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general voltjnteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be re8arded as restricted. Resources expended All expenditure is included on an accrua15 basis and is recognised when there is a legal or constructive obligation to pay for expenditure. The charity is not re8lStered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. Expenses are apportioned where necessary. Fundraising costs are those in seeking voluntary contributions and do not include the costs of disseminatin8 information in support of charitable activitie5. Charitable activities costs are those costs incurred directly in respect of expenditure on the objects of the charity. Governance costs are those incurred in connection with the administration of the charity. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful Fixtures & fittings IO% on reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. 10
Fakenham Community Campus Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 Accounting policies- continued Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of general objectives ol the charity and which have not been designated for any other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. Hire purchase and leasing commitments Rentals paid under operatin8 leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Going concern There are no material uncertainties about the charity's ability to continue. Financial Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the in5trurnent. Basic financial instruments are initially reco8nised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can othetwise be measured reliably, the investment 15 Subsequently measured at fair value with char)ges in fair value recognised in income and expenditure. All other such investments are subsequently measured at C05t less impairment, Other financial instruments, including derivatives, are initially reconsider at fair value, unless payment for an asset is deferred beyond the normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any change5 recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial 3s5et5 that are measured at cost or amortised cost are reviewed for objective evidence of irnpairment at the end pf each reporting date. If there is objective evidence of impairment, an impairment Ioss 15 reconsider under the appropriate heading in the statement of financi31 activities in which the initial gain was recognised. 11
Fakenham Community Campus Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 Accounting policies- continued For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial a55et that exceeds what the carrying amount would have been had the impairment not previously been recognised. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it 15 not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash flows that largely independent of the cash inflows from other assets or 8roups. For impairrnent testing of goodwill, the goodwill acquired in a business combination is, From the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilitie5 of the charity are assigned to those units, Investment Income 31.3,24 Total funds 31.3.23 Total funds Unrestrlcted funds Restricted funds Deposit account interest 560 560 Net incomellexpendlture) Net incorne/lexpenditurel is stated after chargin81lcreditin81: 31.3.24 31.3.23 Depreciation - owned assets Other operating leases 9,261 2,101 9,763 2,022 12
Fakenham Community Campus Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 Trustees, remuneration and benefits There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. Comparatlves for the statement of financlal activities Unrestricted fund Restricted funds Total funds Income and endowments from Donations and legacies 501 501 Charitable activities Charitable 44,170 44,170 Total 44,671 44,671 Expendlture on Charitable actlvltles Charitable 46,807 6,086 52,893 NET INCOME/IEXPENDITUREI 12, 1361 16,0861 18,2221 Reconciliation of funds Total funds brought forward 85,536 60,866 146,402 Total funds carried forward 83,400 S4,780 138,180 13
Fakenham Community Campus Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 Tangible fixed assets Fixtures & fittings Cost At l April 2023 Additions 217,108 2,126 At 31 March 2024 219,234 Depreciation At l April 2023 Charge for year 126,161 9,261 At 31 March 2024 135,422 Net book value At 31 March 2024 83,812 At 31 March 2023 90,947 Debtors: amounts falling due within one year 31.3.24 31.3.23 Trade debtor5 Prepayments 8,473 484 6,457 350 8,957 6,807 Creditors: amounts fallin8 due within one year 31.3.24 31.3.23 Provision for doubtful debts Accrua15 ond deferred income 1, 125 3,955 904 2,708 5,080 3,612 14
Fakenham Community Campus Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 MovÈmÈnt In funds Net movement in funds At 1.4.23 At 31.3.24 Unrestricted funds General fund 83,400 11,318 94,718 Restricted funds Chair fund Light fund Awards for all fund Hall floor fund Kitchen refit fund 1,349 929 39,216 6,725 6,561 11351 1931 13,9221 16721 16561 1.214 836 35,294 6,053 5,905 54,780 15,4781 49,302 TOTAL FUNDS 138,180 5,840 144,020 Net movement in fund5, included in the above are as follows.. Incoming resources Resources expended Movement In funds Vnrestrlrted funds General fund 62,076 150,7581 11,318 Restricted funds Chair fund Light fund Awards for all fund Hall floor fund Kitchen refii fund 11351 1931 13,9221 16721 16561 11351 1931 13,9221 16721 16561 15,4781 15,4781 TOTAL FUNDS 62,076 156,2361 5,840 15
Fakenham Community Campus Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 Movement In funds- continued Comparatives for movement in funds Net movement in funds At 1.4.22 At 31.3.23 Unrestricted funds General fund 85,536 12,1361 83,400 Restrl¢ted funds Chair fund Light fund Awards for all fund Hall floor fund Kitchen refit fund 1,499 1,032 43,573 7,472 7,290 11501 11031 14,3571 17471 17291 1,349 929 39,216 6,725 6,561 60,866 16,0861 54,780 TOTAL FUNDS 146,402 18,2221 138,180 Comparative net movement in funds, included in the above are as follows.. IncomSn8 resources Resources expended Movement in funds Unrestricted funds General fund 44,671 146,8071 12,1361 Restricted funds Chair fund Light fund Awards for all fund Hall floor fund Kitchen refit fund 11501 11031 14,3571 17471 17291 11501 11031 14,3571 17471 17291 16,0861 16,0861 TOTAL FUNDS 44,671 152,8931 18,2221 Chair fund - To buy new chairs for the community centre. Lights fund - To help with the purchase of new stage lighting. Awards for all fund - To improve the entrance lobby and meeting rooms. Hall floor fund To replace the main hall floorin8 of the community centre. Kitchen refit fund To refit the kitchen of the comrnunity centre. 16
Fakenham Community Campus Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 io. Related party disclosures There were no related party transactions for the year ended 31 March 2024. ii. Limited by guarantee The member5 of the company have agreed to contribute £25 each to the assets of the company in the event of it being wound up. 12. General information The charity is a public benefit entity and a private company limited by guarantee, registered in Ensland and Wales and a registered charity in England and Wales. The address of the re8lStered office is The Community Centre, Oak Street, Fakenham, Norfolk, N R219DY. 13. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 IFRS 1021 (Charities SORP IFRS 10211 and the Companies Act 2006. 17
Fakenham Community Campus Trust Limited Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Income and endowments Donations and legacies Donations Grants 1,750 998 501 2,748 501 Investment income Deposit account interest 560 Charitable activities Room hire 58,768 44,170 Total incoming resources 62,076 44,671 Expenditure Charltable actlvltles TV, telephone and website Rates and water Insurance Light and heat Repairs and renewals Cleanin8 and laundry Maintenance charges Sundries Bad debts Fixtures and fittings 8ank interest 2,101 3,662 1,271 10,577 8,386 2,761 14,201 2,000 1,125 9,261 154 2,022 1,273 958 8,757 7,798 3,809 14,976 1,501 1,077 9,763 119 55,499 52,053 Support costs Governance costs Accountancy fees 737 840 Total resources expended 56,236 52,893 Net income/{expenditurel 5,840 18,2221 This page does not form part of the statutory financial statements 18