Paper 8 **COMPANY REGISTRATION NUMBER: 3020605** **CHARITY REGISTRATION NUMBER: 1044581** ## **BOOTHFERRY ROAD COMMUNITY PROJECT** **COMPANY LIMITED BY GUARANTEE** ## **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED** **31 MARCH 2023** ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE** ## **FINANCIAL STATEMENTS** ## **AS AT 31 MARCH 2023** |**CONTENTS**|**PAGE**| |---|---| |Trustees and professional advisors|1| |Trustees' Annual Report|2| |Independent examiner's report to the trustees|5| |Statement of financial activities (incorporating the income and expenditure account)|6| |Balance Sheet|7| |Notes to the Financial Statements|8| Page 1 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE TRUSTEES AND PROFESSIONAL ADVISERS** ## **AS AT 31 MARCH 2023** **Registered charity name** Boothferry Road Community Project **Operating name** The Courtyard **Charity number** 1044581 **Company registration number** 3020605 **Principal and registered office** The Courtyard Boothferry Road Goole East Yorkshire DN14 6AE **Trustees** J Hughes M Pearson - Resigned 27th June 2023 C Pickering T Wharvell C Ankers J Pearson - Resigned 4th March 2023 **Secretary** B Macinnes **Independent examiner** P Sharpe FCA Townends Accountants LLP Carlisle Street Goole East Yorkshire DN14 5DX Page 2 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT** ## **AS AT 31 MARCH 2023** The trustees, who are also directors for the purposes of company law, present their report and the unaudited financial statements of the company for the year ended 31 March 2023. ## **REFERENCE AND ADMINISTRATIVE DETAILS** Reference and administrative details are shown in the schedule of trustees and professional advisers on page 1 of the financial statements. ## **THE TRUSTEES** The trustees who served the company during the period were as follows: J Hughes M Pearson C Pickering T Wharvell C Ankers J Pearson - Resigned 4th March 2023 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The charity is a charitable company limited by guarantee, incorporated on 10 February 1995 and registered as a charity on 28 February 1995. The charity was established under a Memorandum of Association which established its objects and powers and is governed by its Articles of Association last varied on the 30 September 1998. None of the trustees has any beneficial interest in the charity. In the event of the charity being wound up, the liability in respect of guarantee is limited to £10 per member of the charity. All trustees are familiar with the practical work of the charity having been trustees for a considerable time. When new trustees are appointed, the Company Secretary advises them of their obligations by reference to the Charity Commission guide 'The Essential Trustee' and draws attention to the main document setting out the operational framework for the charity, the Memorandum and Articles of Association. They are kept up to date on relevant new requirements. The trustees continually assess the major risks to which the charity is exposed and take all prudent steps to address and mitigate all risks. ## **OBJECTIVES AND ACTIVITIES** The charity's principal objective is to develop Boothferry Road School Building as a centre for community use. ## **PUBLIC BENEFIT** The trustees have due regard to the guidance published by the Charity Commission on matters of public benefit and keep under constant review the need to satisfy the requirements of identifiable benefit to the public. Page 3 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT (Continued)** ## **AS AT 31 MARCH 2023** ## **ACHIEVEMENTS AND PERFORMANCE** The Chief Executive Officer strives to lead the Charity in a way in which will benefit the whole community by being innovative and gauging external need - using earned income subsidised by business lets and project specific funding to be able to offer the best possible range and quality of events and services. At The Courtyard we offer a variety of community groups which we hope to expand upon in future years. These groups have been severely impacted by Government restrictions to limit the spread of Covid, we hope that as public confidence grows people will return to use the groups more regularly. We have expanded our offer to include larger scale events including very succesful Christmas Markets and a Steampunk fundraising event that has been succesful two years in a row. As our communty navigate through the current cost of living crisis we hope to support them and provide welcoming space with cost effective warmth and recreration. We also provide a welcoming versatile space for many businesses, charities and community groups to offer a wider variety for our community. Moving forward we hope to work in partnership with other local groups as well as undertaking some refurbishment of the building by securing grant funding and involving the local community. ## **FINANCIAL REVIEW** The Charity is funded from income derive from office rentals, hiring out the public rooms for meeting, catering and the on-site café. ## **RESERVES POLICY** Unrestricted funds are needed to cover administration and property costs without which the charity could not function. The trustees consider it prudent that unrestricted reserves should be sufficient to cover one years operating costs. Free reserves on 31 March 2023 were less than one years net operating costs. ## **PLANS FOR THE FUTURE** In 2024-25 and beyond we hope to expand upon our growth and achievements. We hope to form more local partnerships, increase our regular community groups and produce more large scale community events. We strive to be self-sufficient by utilising all of our income streams effectively to maintain the building and support our community as needed. ## **INDEPENDENT EXAMINER** The appointment of an independent examiner going forward (replacing Mr P Sharpe FCA, Townends Accountants LLP who is retiring from that role) will be confirmed at the members forthcoming general meeting for the ensuing year. Page 4 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT (Continued)** ## **AS AT 31 MARCH 2023** ## **STATEMENT OF RESPONSIBILITIES** The trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the charities deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS102) and in accordance with the Companies Act 2006. Registered office: Signed on behalf of the Trustees: The Courtyard Boothferry Road Goole …………………………………. East Yorkshire Director/Trustee - T Wharvell DN14 6AE …......... Page 5 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BOOTHFERRY ROAD COMMUNITY PROJECT** ## **AS AT 31 MARCH 2023** I report on the accounts of the company for the year ended 31 March 2023 which are set out on pages 6 to 14. ## **RESPONSIBILITIES AND BASIS OF REPORT** As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **INDEPENDENT EXAMINERS REPORT** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: - (1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or - (2) the accounts do not accord with those accounting records; or - (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or - (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ………………………………………… Paul Sharpe FCA Townends Accountants LLP Independent examiner Carlisle Street Goole East Riding of Yorkshire DN14 5DX Page 6 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)** ## **YEAR ENDED 31 MARCH 2023** |**Note**
**INCOME:**
Income from charitable activities:
**4**
**TOTAL INCOME**
**EXPENDITURE ON:**
Expenditure on charitable activities
**5**
**TOTAL EXPENDITURE**
**6**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**NET INCOME/(EXPENDITURE) AND NET**
**MOVEMENT IN FUNDS FOR THE YEAR**|**2023**
**£**
**143,008**
**143,008**
**151,601**
**151,601**
**(8,593)**
**885,280**
**876,687**|2022
£
(restated)
161,584
161,584
138,839
138,839
22,745
862,535
885,280| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All of the above amounts relate to continuing activities. Page 7 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE** ## **BALANCE SHEET** ## **AS AT 31 MARCH 2023** |**Note**
**FIXED ASSETS**
Tangible assets
**10**
**CURRENT ASSETS**
Debtors
**11**
Cash at bank and in hand
**12**
**NET CURRENT ASSETS**
**Total assets less current liabilities**
**13**
**NET ASSETS**
**FUNDS**
Unrestricted funds
**14**
**16**
**CREDITORS: Amounts falling**
**due within one year**
**CREDITORS: Amounts falling**
**due after more than one year**|**£**
**£**
**771,306**
**25,980**
**86,748**
**112,728**
**7,347**
**105,381**
**876,687**
**-**
**876,687**
**876,687**
**876,687**
**2023**|£
£
870,036
25,156
75,947
101,104
10,020
91,084
961,120
75,840
885,280
885,280
885,280
(restated)
2022| |---|---|---| These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.' For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Trustees responsibilities: - The trustees have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and These financial statements were approved by the members of the committee and authorised for issue on …................... and are signed on their behalf by: ………………………………. T Wharvell Director/Trustee Company Registration Number: 3020605 Page 8 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## **1 GENERAL INFORMATION** The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Courtyard, Boothferry Road, Goole, East Yorkshire, DN14 6AE. ## **2 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 (FRS 102) (Charities SORP (FRS 102)), the Charities Act 2011 and the Companies Act 2006. ## **3 ACCOUNTING POLICIES** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## **a) Basis of accounting** The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. ## **b) Legal status of the Charity** Boothferry Road Community Project is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £10 to the assets of the charitable company in the event of it being wound up. ## **c) Going concern** The accounts have been prepared on the going concern basis of accounting. The charity like many others, has been significantly impacted by the Covid 19 outbreak during the year. The effects of Covid 19 create considerable risk in forecasting. The trustees are however confident that because of the measures taken including the furlough of staff, there is no material uncertainty about the charities ability to continue as a going concern. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the charity's trading results to a greater or lesser extent. At the date of signing these financial statements, the trustees have considered the effect of these matters on the charity with the information available to it and do not believe that it will affect the ability of the charity to continue to trade for the foreseeable future. On this basis, the trustees have prepared these financial statements on a going concern basis. Page 9 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## **3 ACCOUNTING POLICIES (Continued)** ## **d) Fund accounting** General funds are unrestricted funds available for use at the discretion of the trustees to further any of the charity's purposes. ## **e) Incoming resources** All incoming resources are included in the statement of financial activities when 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 specific policies are applied to particular categories of income: - Income from grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. ## **f) Resources expended** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources. Value Added Tax is not recoverable by the charity and as such is included in the relevant costs incurred. ## **g) Fixed assets** All fixed assets are initially recorded at cost. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Long Leasehold property - Over 94 years Straight line Fixtures and fittings - 20% Straight line 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. ## **h) Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **i) Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity or three months or less from the date of acquisition or opening of the deposit or similar account. Page 10 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## **3 ACCOUNTING POLICIES (Continued)** ## **j) Creditors** Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. ## **k) Financial instruments** A financial asset or a financial liability is recognised only when the charity becomes 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 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. ## **l) Pensions** Employees of the charity are entitled to join a defined contribution 'money purchase' scheme. The charity contribution is restricted to the contributions disclosed in note 7. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included with the associated staff cost and allocated therefore to raising funds, charitable activities, support and governance cost and charged to the unrestricted funds to the charity. Pension costs charged in the Statement of Financial Activities represent the contributions payable by the company in the year. ## **m) Operating leases** Operating leases are recognised over the period which the lease falls due. ## **n) Government grants** Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Page 11 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** |**4**
**INCOME FROM CHARITABLE ACTIVITIES**
Office rents and facilities
Room hire
Refreshments
Sundry income
Government Grants
**5**
**COSTS OF CHARITABLE ACTIVITIES**
Wages and salaries
Rent
Water rates
Insurance
Light and heat
Cleaning
Repairs and maintenance
Equipment and repairs
Stationery, postage and advertising
Telephone
Loan interest
Legal and professional fees
Independent examiner fees
Bank charges
Activities and events
Travel and mileage
Sundry expenses
Subscriptions and licences
Loss on disposal of fixed assets
Bad debts written off /(recovered)
Depreciation
**6**
**NET INCOME/(EXPENDITURE) FOR THE YEAR**
This is stated after charging:
Fees payable to the independent examiner for accountancy services
Depreciation
Operating lease rentals - land and buildings|**2023**
2022
**£**
£
**45,930**
46,929
**81,436**
76,419
**7,851**
3,518
**7,792**
6,522
**-**
28,195
**143,008**
161,584
**2023**
2022
**£**
£
**92,944**
78,282
**200**
200
**1,103**
980
**4,469**
5,352
**13,192**
11,214
**1,145**
1,167
**9,466**
12,433
**2,362**
1,642
**1,267**
693
**2,148**
3,571
**357**
5,386
**2,869**
606
**2,770**
2,400
**98**
247
**1,986**
443
**769**
-
**473**
540
**1,512**
658
**197**
-
**1,241**
1,991
**11,033**
11,033
**151,601**
138,839
**2023**
2022
**£**
£
**2,770**
2,400
**11,033**
11,033
**200**
200
**14,003**
13,633| |---|---| Page 12 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** |**7**
**STAFF COSTS AND NUMBERS**
Social security costs
Pension costs
Staff costs were as follows:
Salaries and wages|**2023**
2022
**83,897**
76,951
**6,614**
1,331
**2,433**
-
**92,944**
78,282| |---|---| There were no employees whose total employee benefits excluding pension contributions were in excess of £60,000. The average number of employees during the year was 6 (2022 6). ## **8 TRUSTEES & RELATED PARTY TRANSACTIONS** None of the trustees (or any persons connected with them) received any remuneration or travelling expenses during the year. There have been no related party transactions in the reporting periods that require disclosure. ## **9 TAXATION** The company is a registered charity and as such is exempt from taxation on its income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied for charitable purposes. |**TANGIBLE FIXED ASSETS**
**Cost**
At 1 April 2022
Additions
Disposals
**At 31 March 2023**
**Depreciation**
At 1 April 2022
Provided during the year
**At 31 March 2023**
**Net book value**
**At 31 March 2023**
At 31 March 2022|**£**
122,197
754,702
109,016
985,915
-
-
-
-
(87,697)
-
-
(87,697)
34,500
754,702
109,016
898,218
-
10,199
105,680
115,879
-
10,199
834
11,033
-
20,398
106,514
126,912
**34,500**
**734,304**
**2,502**
**771,306**
122,197
744,503
3,336
870,036
**Freehold**
**property**
**Total**
**Long**
**leasehold**
**property**
**Fixtures &**
**fittings**| |---|---| ## **10 TANGIBLE FIXED ASSETS** Page 13 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## **11 DEBTORS** ||||||| |---|---|---|---|---|---| |**11 **|**DEBTORS**|||**2023**|2022| |||||**£**|£| ||Trade debtors|||**24,615**|23,714| ||Prepayments and accrued income|||**1,365**|1,442| |||||**25,980**|25,156| |**12 **|**CREDITORS: Amounts falling due within one year**|||**2023**|2022| ||Bank loan|||**£**
**-**|£
4,327| ||Trade creditors|||**315**|2,342| ||Accruals and deferred income|||**4,291**|3,300| ||Other creditors|||**308**|51| ||Pension Fund|||**2,433**|-| |||||**7,347**|10,020| |**13 **|**CREDITORS: Amounts falling due after more than one year**|||**2023**|2022| ||Bank loan|||**£**
**-**|£
75,840| ||The loan has been entirely repaid during the current year following||the sale of|the property.|| |**14 **|**ANALYSIS OF MOVEMENT OF FUNDS**|**Balance**|**Incoming**|**Outgoing**|**Balance**| |||**at 01.04.22**|**Resources **|**Resources at**|**31.03.23**| |||**£**|**£**|**£**|**£**| ||General reserve|885,280|143,008|(151,601)|876,687| **General Reserve:** This fund represents the free funds of the charity which are not designated for particular purposes. ## **15 COMMITMENTS UNDER OPERATING LEASES** |The total future minimum lease payments under non-cancellable
operating leases are as follows:
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years|**2023**
2022
**£**
£
**200**
200
**800**
800
**13,800**
13,800
**14,800**
14,800| |---|---| The charity's long leasehold property is leased from Goole Town Council under a non-cancellable operating lease expiring after more than five years. Page 14 ## **BOOTHFERRY ROAD COMMUNITY PROJECT COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2023** ## **16 PRIOR YEAR ADJUSTMENT** In preparing the accounts for the year ended 31 March 2023, the trustees have considered that it is appropriate to re-classify restricted funds as unrestricted funds. The trustees consider that the restrictions on the funds received were met once the specified asset was acquired, so allowing the charity to use the asset acquired on an unrestricted basis for any charitable purpose. A prior year adjustment has therefore been made for these adjustments for the year ended 31 March 2022.