REGISTERED COMPANY NUMBER: 01528035 (England and Wales) REGISTERED CHARITY NUMBER: 1000793 Trustees. Report and Unaudited Financial Statements for the Year Ended 31 March 2025 for Fakenham Community Campus Trust Llmited Stephenson Smart (East Anglial Limited 10 Oak Street Fakenham Norfolk NR219DY
Fakenham Community Campus Trust Limited Contents of the Financial statements for the Year Ended 31 March 2025 Page Trustees, Report Independent Examlner's Report Statement of Flnan¢lal Artlvitles Statement of Flnanclal PosltSon Statement of Cash Flows Notes to the Statement of Cash Flows Notes to the Flnanclal Statements 10 to 17 Detalled Statement of Flnanclal Actlvlties 18
Fakenham Community Campu5 Trust Limited Trustees, Report for the Year Ended 31 March 2025 The trustees who are also directors of the Charity for the purposes of the Companies Act 2006. present their report with the financial statement5 of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accountin8 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 l January 20191. Oblectlves and activitles Objectives and alms 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 wlth 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. Room hlre has increased to £67,44712024.. £58,768). Flnanclal revlew Total incomin8 resources from established revenue streams have increased again from last year. Grant5 received from Groundwork UK amounting to £Nil12024: £1,000) and donations received from Fakenham Beer Festival amountin8 to £1,85012024.' £1,750). The charity also received bank interest of £75112024.. £5601. Overall income for the year to 31st March 2025 therefore increased to £70,04812024: £62,0761. Total expenditure has increased to £64,25412024,' £56,236) due to increased repair costs. Combined this has given a net surplus of £5,794 compared to the net surplus of £5,840 in the previous year. As at 31st March 2025 the charity held unrestricted reserves of £105,44112024.' £94,718) and restricted reserves of £44,37312024: £49.3021. The committee are in the process of assessing risk and are formulating plans to mitigate those areas of risk. The company's unrestricted reserves policy is to have enough free reserves to allow for an large repair work. Currently the free unrestricted reserves are satisfactory for the company's expected need5. Plans for future periods The company continue5 to look to improve areas of the building such as the toilets, as well as looking to increase use of the centre via improvement5 to the website and social media communications. Structure, governance and management Governlng document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited bv guarantee. as defined by the Companies Act 2006.
Fakenham Community Campus Trust Limited Trustees, Report for the Year Ended 31 March 2025 Structure, governance and management The Fakenham and District Community Centre Limited wa5 established by Memorandum of Association on 17 October 1980, to run the Community Centre on behalf of North Norfolk District Council. On 31 December 2012 the company chan8ed its name to Fakenham Community Campus Trust Limited and on 6 June 2013 the company adopted a new Memorandurn 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 members is limited to a sum not exceedin8 £25. Organlsatlon The company is managed by a committee of management which meets throughout the year. The committee has the power to appoint new members. New trustees are 8iven adequate induction for training. Flnanclal controls The rommittee makes decisions about the way the charity 15 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 area5 of the centre which the committee is responsible for in a good state of repair. Investment powers and restrictlons The committee can undertake investments which are legal, while bearing in mind its main objectives. Reference and admlnlstrative detalls Registered Company number 01528035 IEngland and Wales) Registered Charlty number 1000793 Registered office The Community Centre Oak Street Fakenham Norfolk NR219DY Trustees Mr R G Crook MsHMDeLyon Mr T E Summers 8Sc ACA Mrs B Bratt Mrs J Holdom Ms P J Bucknell Mr D M Andrews lappointed 20.11.20241 Company Secretary Mr R G Crook
Fakenham Community Campus Trust Limited Trustees, Report for the Year Ended 31 March 2025 Reference and administrative 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 ..2S..So..fa&..Qo.If. 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 Campu5 Trust Limited I'the Company'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. 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 accordance 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 rny examination of your charity's accounts as carried out under Section 145 of the Charities Act 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'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: 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 trLre and fair view which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charitie5 (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come atross 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. r Mike Rowles FCCA The Association of Chartered Certified Accountants Stephenson 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 2025 31.3.25 Total funds 31.3.24 Total funds Unrestrirted fund Restricted funds Notes Income and endowments from Donations and legacies 1,850 1,850 2,748 Charitable activities Charitable 67,447 67,447 58,768 Investment income 751 751 560 Total 70,048 70,048 62,076 Expendlture on Charitable actlvltles Charitable 59,325 4,929 64,254 56,236 NET INCOME/(EXPENDITUREI 10.723 14,9291 5.794 5,840 Reconclllatlon of funds Total funds brought forward 94,718 49,302 144,020 138,180 Total funds carrled forward 105,441 44,373 149,814 144,020 The notes form part of these financial statements
Fakenham Community Campus Trust Limited Statement of Financial Position 31 March 2025 31.3.25 Total funds 31.3.24 Total funds Unrestrlcted fund Restricted funds Notes Fixed assets Tangible assets 48,611 44,373 92.984 83,812 Current assets Debtors Cash at bank 7,338 58,944 7.338 58,944 8,957 56,331 66,282 66,282 65,288 Creditors Amounts falling due within one year 19,4521 19,4521 15,0801 Net current assets 56,830 56,830 60,208 Total assets less current Ilabllltles 105,441 44,373 149,814 144,020 NET ASSETS 105,441 44,373 149,814 144,020 Funds Unrestricted funds Restricted funds 105,441 44,373 94,718 49.302 Total funds 149,814 144,020 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companie5 Act 2006. The trustees acknowledge their responsibilities 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 requirement5 of Sections 394 and 395 and which otherwise comply with the requirernents of the Companie5 Act 2006 relating to financial statements, so far as applicable to the charitable cornpany. Ibl The notes form part of these financial statements
Fakenham Community Campus Trust Limited Statement of Financial Posltion - continued 31 March 2025 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 .as..3.4)p.l.Kr. and were signed on its behalf by.. MrsB rustee 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 2025 31.3.25 31.3.24 Notes Cash flows from operating activities Cash generated from operations Interest paid 20,193 11681 14,013 11541 Net cash provided by operatin8 activities 20,025 13,859 Cash flows from investlng activities Purchase of tangible fixed assets Interest received 118,1631 751 12,1261 560 Net cash used in investing activities 117,4121 11,5661 Change in cash and cash equlvalents In the reportlng period Cash and cash equivalents at the beginning of the reportlng perlod 2,613 12,293 56,331 44.038 Cash and cash equlvalents at the end of the reportlng perlod 58,944 56,331 The note5 form part of these financial statements
Fakenham Community Campus Trust Limited Notes to the Statement of Cash Flows for the Year Ended 31 March 2025 Recon¢lllation of net income to net cash flow from operating actlvlties 31.3.25 31.3.24 Net income for the reporting period las per the Statement of Flnancial Activities) Adjustments for: Depreciation charges Interest received Interest paid Decrease/lincreasel in debtors Increase in creditors 5,794 5,840 8.991 1751} 168 1,619 4,372 9,261 15601 154 12,1501 1.468 Net cash provided by operatlons 20,193 14,013 Analysls of chan8es in net funds At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank and in hand 56,331 2,613 58,944 56.331 2,613 58,944 Total 56.331 2,613 58,944 The notes form part of these financial statements
Fakenham Community Campus Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Accounting pollcies Basi5 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 IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l 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. Judgement5 and key sources of estlmatlon uncertainty The preparation of the financial statements require5 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, includin8 expectations of future events that are believed to be reasonable under the circumstance5. Incomlng 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 following speclfic policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is reco8nised when the receipt is probable and entitlement is established. income from donated goods Is measured at fair value of the goods unless this 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 volunteers. income from contracts for the supply of service5 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 regarded as restricted. Resources expended All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. The charity is not registered 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 disseminating information in support of charitable activities. 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 a55ets Depreciation is provided at the followin8 annual rate5 in order to write off each asset over it5 estimated useful Fixtures & fittings IO% p.a. 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 2025 Accountlng policies - contlnued Fund accountin8 General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of general objectives of 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 char8ed against the specif ic fund. Hire purchase and leasing commltments Rentals paid under operating 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 reco8nised only when the charity become5 a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabllitie5 are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instrument5 are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably. the investment is subsequently measured at fair value with chan8es in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, includin8 derivatives, are initially reconsider at fair value, unless payment for an a55et 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 instrument5 are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedginB relationship. Financial assets that are measured at C05t or amortised cost are reviewed for objective evidence of impairment at the end pf ea¢h reporting date. If there is objective evidence of impairment, an impairment loss is reconsider under the appropriate heading in the statement of financial 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 2025 Accounting pollcies- continued For all equity instruments regardless of Significance, and other financial assets that are individually significant. these are assessed individually for impairment. Other financial a55ets 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 carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Impalrment of flxed assets A review for indicator5 of impairment is carried out at each reportin8 date, with the recoverable amount bein8 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 irnpairment testing. when it is 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 a55et belongs. The cash-generating unit is the smallest identifiable group of asset5 that includes the asset and generates cash flows that largely independent of the cash inflows from other assets or groups. For impairment te5tin8 of goodwill, the 8oodwill acquired in a business combination is. from the acquisition date, allocated to each of the ca5h-generating units that are expected to benefit from the syner8ies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those unit5. Investment Income 31.3.25 Total funds 31.3.24 Total funds Unrestrlcted funds Restricted funds Deposit account interest 751 751 560 Net Incornellexpendlturel Net income/lexpenditurel is stated after char8ingllcreditingl.. 31.3.25 31.3.24 Depreciation owned assets Other operatin8 leases 8,991 2,588 9,261 2.101 12
Fakenham Community Campus Trust Limited Notes to the Financial Statements- continued for thÈ Year Ended 31 March 2025 Trustees, remuneration and benefits There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. Comparatlves for the statement of fSnanclal activities Unrestrirted fund Restricted funds Total funds Income and endowments from Donations and legacies 2,748 2,748 Charltable actlvltles Charitable 58,768 58,768 Investment income 560 560 Total 62,076 62,076 Expenditure on Charitable activities Charitable 50,758 5,478 56,236 NET INCOMEIIEXPENDITUREI 11,318 15.4781 5,840 Reconclliation of funds Total funds brought forward 83,400 54,780 138,180 Total funds carrled forward 94,718 49,302 144,020 13
Fakenham Community Campus Trust Limited Notes to the Financial statements - continued for the Year Ended 31 March 2025 Tangible fixed assets Fixtures & fittings Cost At l April 2024 Additions 219,234 18,163 At 31 March 2025 237,397 Depreclatlon At l April 2024 Charge for year 135,422 8,991 At 31 March 2025 144,413 Net book value At 31 March 2025 92.984 At 31 March 2024 83,812 Debtors: amounts falllng due withln one year 31.3.25 31.3.24 Trade debtors Prepayments 6,772 566 8,473 484 7,338 8,957 Credltors". amounts falllng due wlthln one year 31.3.25 31.3.24 Provision for dovbtful debt5 Accruals and deferred income 536 8,916 1,125 3,955 9,452 5,080 14
Fakenham Community Campus Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2025 Movement in funds Net movement In funds At 1.4.24 At 31.3.25 Unrestricted funds General fund 94,718 10,723 105,441 Restrlcted funds Chair fund Light fund Awards for all fund Hall floor fund Kitchen refit fund 1,214 836 35,294 6,053 5,905 11211 1841 {3,5291 16051 15901 1,093 752 31,765 5,448 5,315 49,302 14,9291 44,373 TOTAL FUNDS 144,020 5,794 149,814 Net movement in funds, included in the above are as follows.. Incomln8 resources Resources expended Movement in funds Unrestricted funds General fund 70,048 159,325} 10,723 Restricted funds Chair fund Li8ht fund Awards for all fund Hall floor fund Kitchen refit fund 11211 1841 13,5291 16051 15901 11211 1841 13.5291 16051 15901 14,9291 14.9291 TOTAL FUNDS 70,048 164,2541 5,794 15
Fakenham Community Campus Trust Limited Notes to the Financial Statement5 - continued for the Year Ended 31 March 2025 Movement in funds- contlnued Comparative5 for movement In funds Net movement in funds At 1.4.23 At 31.3.24 Unrestrlcted funds General fund 83,400 11.318 94,718 Restrlcted 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 Comparative net movement in funds, included in the above are as follows.. Incomln8 resources Resources expended Movement in funds Unrestricted funds General fund 62,076 150.7581 11,318 RestrScted funds Chair fund Light fund Awards for all fund Hall floor fund Kitchen refit 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 Chair fund - To buy new chair5 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 ¢entre. Kitchen refit fund - To refit the kitchen of the community centre. 16
Fakenham Community Campus Trust Limited Notes to the Financial Statements - Continued for the Year Ended 31 March 2025 io. Related party dlsclosures There were no related party tran53Ctions for the year ended 31 March 2025. ii. Limited by guarantee The members of the company have agreed to contribute £25 each to the asset5 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 England and Wales and a registered charity in England and Wale5. The address of the registered office is The Community Centre, Oak Street, Fakenham, Norfolk, NR219DY. 13. ststement of cornpllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reportin8 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 2025 31.3.25 31.3.24 Income and endowments Donations and legacies Donations Grants 1.850 1.750 998 1,850 2.748 Investment income Deposlt account interest 751 560 Charltable actlvities Room hire 67.447 58,768 Total Incoming resources 70,048 62,076 Expendlture Charltable activltles TV. telephone and webslte Rates and water Insurance Light and heat Repairs and renewals Cleaning and laundry Maintenance charges Sundries Bad debts Depreciation of tangible fixed assets Bank interest 2,588 3,010 4,499 8,286 13,323 3,304 18,569 200 536 8,991 168 2,101 3.662 1,271 10,577 8,386 2,761 14,201 2,000 1.125 9,261 154 63.474 55,499 Support costs Governance costs Accountancy fees 780 737 Total resources expended 64,254 56,236 Net Income 5,794 5.840 This page does not form part of the statutory financial statements 18