## Crich Glebe Field Trust Limited Registered Number 3050337 (England and Wales) Charity number 1045937 Unaudited Trustees' Report and Financial Statements for the Year Ended 31 March 2023 **Contents** - 3 Reference and Administrative Details of The Company, it's Trustees and Advisers - 4 Trustees' Report - 6 Independent Examiners Report - 7 Statement of Financial Activities - 8 Balance Sheet - 9-16 Notes to the Financial Statements 2 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited **Reference and Administrative Details of The Company, Its Trustees and Advisers** ## **1 Trustees** - **.** Andrew J Auld - **.** Eric P Dolby - **.** Dr Derek G MacArthur - **.** Richard Walsh - **.** Rev. Ian R Whitehead (Retired 17th January 2023) - **.** Andrew Penson (Appointed 6th March 2023) ## **2 Company Registered Number** 3050337 ## **3 Charity Registered Number** 1045937 ## **4 Registered Office** Crich Glebe Field Trust Limited, Glebe Field Centre, Glebe Field Close, Crich, Derbyshire, DE4 5EU ## **5 Independent Examiner** Andrew J Housley _MICB PM.Dip_ Square 1 Accounting, 4 Tennyson Way, Chesterfield S42 5BA 3 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited **Trustees Report** The trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of: **Crich Glebe Field Trust Limited** (the company) for the year ended **31 March 2023** The trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements of the company's governing document, and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015). Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 is not required. ## **Objectives and Activities** The Trust continues to provide a full range of services at the Glebe Field Centre, to ensure that the centre remains a focus for activities in the local area. The centre is used for church activities, Parish Council meetings, early years learning, baby clinics, evening classes, society meetings and events, Luncheon Club and private parties. Health related facilities are also provided, including an optician and hairdressing. Due regard has been given by the Trustees in respect of guidance given by the Charities Commission on public benefit in deciding the objects and therefore the activities the charity undertakes. ## **Achievements and Performance** The Trust aims to continue to be used by a comprehensive range of organisations catering for a wide spectrum of the local community with diverse interests and needs. When fully open, local people, from babies to nonagenarians, use the centre's facilities on a weekly basis. A significant requirement of the Trust’s strategy is that management of the centre is undertaken by an employed Centre Manager in the future. In order to develop the funding required to support this post, and to help build the activity and use of the centre, the Trustees had resolved in the previous year to appoint a partner organisation, Sporting Communities CIC, on a fixed term/fee contract. This work commenced in May 2022 and concluded in January 2023. Though the full benefits of this investment are yet to be realised, the 2022-23 financial year was in line with the expectations of the Trustees. We are confident that the investments made in developing new services and attracting new funding and revenue streams will bear fruit in coming years. ## **Structure. Governance and Management** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. At the 2022 AGMs the Trustees and members approved a new constitution with the organisation re-forming as Crich Glebe Community Centre CIO and with a new governance structure. This constitution will be presented to the Charities Commission for ratification during the 2023/4 financial year. ## **Recruitment and Appointment of New Trustees** The new constitution holds that Trustees are appointed in the following manner: 2 nominations by the Archdeacon of Chesterfield (normally the Vicar of Crich) 2 nominations by Crich Parish Council Up to 8 elected representatives of the local community (elected annually) at AGM by membership of The Crich Glebe Community Centre CIO. 4 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited ## **Trustees Report** The Trust actively seeks to appoint Trustees to fill any vacancies from the specific community bodies or with appropriate skills. It is the policy of the Trust to provide any necessary training. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. **----- Start of picture text -----**
Signed on behalf of the board
{{sig1_es_:signer1:signature:dimension(width=80mm, height=15mm)}}
Andrew Auld
Chair of Trustees
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5 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited **Independant Examiners Report** ## **Independent Examiner's Report to the Trustees of Red Earth Theatre Ltd ('the company')** I report to the charity trustees on my examination of the accounts of the company for the year ended: ## **31 March 2023** ## **Responsibilities and Basis of Report** As the trustees of the company (and 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 me 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 the company's accounts 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 Examiner's Statement** I have completed my examination. I can 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 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. This report is made solely to the company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's trustees as a body for my work or for this report. Signature: **----- Start of picture text -----**
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Andrew J Housley _MICB PM. Dip_ Square 1 Accounting, Chesterfield, S42 5BA 6 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited ## **Statment of Financial Activities** |**Note**
**Income From:**
Donations & Legacies
3
Charitable Activities
4
Other Trading Activities
5
Investments
6
**Total Income**
**Expenditure On:**
Charitable Activities
7
**Total Expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
13
Net movement in funds
13
**Total funds carried forward**|**Unrestricted**
**Funds**
**2023**
**£**
2,241
33,606
53,094
98
**89,039**
112,408
**112,408**
**(23,369)**
584,265
(23,369)
**560,896**|**Total**
**Funds**
**2023**
**£**
2,241
33,606
53,094
98
**89,039**
112,408
**112,408**
**(23,369)**
584,265
(23,369)
**560,896**|**Total**
**Funds**
**2022**
**£**
1,187
50,224
43,467| |---|---|---|---| ||||3| ||||94,881
111,877
111,877
(16,996)
601,261
(16,996)
584,265| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 9 to 16 form part of these financial statements. 7 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited **Balance Sheet** |**2023**
**Note**
**£**
**Fixed assets**
Tangible assets
10
**488,625**
**Current assets**
Debtors
11
**2,432**
3,775
Cash at bank and in hand
**68,050**
73,565
**70,482**
77,340
**Creditors; amounts falling due within one year**
12
**(1,789)**
289
**Net current assets**
**72,271**
**Total net assets**
**560,896**
**Charity funds**
Restricted funds
14
Unrestricted funds
14
**560,896**
**Total funds**
**560,896**|2022
£
507,214
77,051
584,265
584,265
584,265| |---|---| The company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the trustees on and signed on their behalf by: **----- Start of picture text -----**
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Andrew Auld (Chair of Trustees) The notes on pages 9 to 16 form part of these financial statements. 8 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited **Notes to the Financial Statements** ## **1 Basis of preparing the financial statements** The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Crich Glebe Field Trust Limitedmeets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **Income** All income is recognised once the company has an entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the trustees' report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. ## **Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer the economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs that are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 9 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited ## **Notes to the Financial Statements** Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management. Governance costs are those incurred in connection with the administration of the company and compliance with constitutional and statutory requirements. Charitable activities and governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. All expenditure is inclusive of irrecoverable VAT. ## **Tangible fixed assets and depreciation** All assets costing more than £150.00 are capitalised. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities incorporating income and expenditure accounts. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |**Account**|**Method**|**Method**|**Rate (%) **|**Period (yrs)**| |---|---|---|---|---| |Land and Buildings|Straight Line|Full Month|2|| |Fixture & Fittings|Reducing Balance|Full Month|25|| |Office Equipment|Reducing Balance|Full Month|25|| ## **Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank. ## **Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **Liabilities and provisions** Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised as the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. 10 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited **Notes to the Financial Statements** ## **Financial instruments** The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **Pensions** The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. ## **Fund accounting** General funds are unrestricted funds that are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements. ## **2 Company status** The company is a company limited by guarantee. The members of the company are the trustees named on page 3. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company. 11 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited ## **Notes to the Financial Statements** |**3**
**4**
Glebe Fundraising Activities
Grants - Unreserved
Job Retention Grant
Parish Council Contribution
**5**
Rental Income
Catering Sales
**6**
Interest Received
**Income from donations and legacies**
Donations - Reserved
Donations - Unreserved
**Income from charitable activities**
Crich Live
Grants - Reserved
**Income from other trading activities**
Other income
**Income From Investments**|**Unrestricted**
**funds**
**2023**
**£**
865
1,376
**2,241**
**Unrestricted**
**funds**
**2023**
**£**
3,322
2,873
16,877
10,534
**33,606**
**Unrestricted**
**funds**
**2023**
**£**
37,560
13,420
2,114
**53,094**
**Unrestricted**
**funds**
**2023**
**£**
98
**98**|**Total**
**funds**
**2023**
**£**
865
1,376
**2,241**
**Total**
**funds**
**2023**
**£**
3,322
2,873
16,877
**0**
**0**
10,534
**33,606**
**Total**
**funds**
**2023**
**£**
37,560
13,420
2,114
**53,094**
**Total**
**funds**
**2023**
**£**
98
**98**|**Total**
**funds**
**2022**
**£**
375
812
**1,187**
**Total**
**funds**
**2022**
**£**
680
1,243
15,000
16,180
7,601
9,520
**50,224**
**Total**
**funds**
**2022**
**£**
32,148
11,169
150
**43,467**
**Total**
**funds**
**2022**
**£**
3
**3**| |---|---|---|---| 12 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited ## **Notes to the Financial Statements** ## **7 Expenditure on Charitable Activities** ## **Analysis of direct costs** |**Total**
**funds**
**2023**
**£**
Catering Purchases
5,557
Consultancy fee
14,000
Direct Expenses
47
Direct Wages - Casual
50
**19,654**
**Analysis of support costs**
**Total**
**funds**
**2023**
**£**
Staff Costs
43,160
Depreciation
18,589
Rent & Utilities
5,436
Motor & traveling
174
Office costs
11,087
Premises Costs
12,215
Accountancy, Lega & Professional fees
2,093
**92,754**
**8 Staff Costs**
**2023**
**£**
Wages & Salaries
43,160
Contribution to defined pension schemes
178
**43,338**
**2023**
No.
Charitable activities
**6**
**9 Trustees' remuneration and expenses**
**2023**
**£**
NIL
NIL
No employee received remuneration amounting to more than £60,000 in either year.
Remuneration or other benefits received by the trustees during the yea
Total expenses reimbursed or paid directy to the trustees during the ye
The average number of persons employed by the company during the year was as follows:|**Total**
**funds**
**2022**
**£**
4,306
98
**4,404**
**Total**
**funds**
**2022**
**£**
53,723
18,659
7,705
226
13,818
5,552
7,790
**107,473**
**2022**
**£**
53,723
**53,723**
**2022**
No.
**8**
**2022**
**£**
NIL
NIL| |---|---| 13 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited **Notes to the Financial Statements** ## **10 Tangilble fixed assets** |**Land &**
**Buildings**
**£**
At 1 April 2022
**919,012**
**-**
At 31 March 2023
**919,012**
At 1 April 2022
**412,633**
Charge for the year
**18,380**
At 31 March 2023
**431,013**
**Net book value**
At 31 March 2023
**487,999**
At 31 March 2022
**506,379**
**11 Debtors**
Stock
Prepayments & accrued income
**12 Creditors: Amounts falling due within one year**
Trade creditors
Other taxation & social security
**Cost or valuation**
Additions in the year
**Depreciation**
Trade debtors|**Fixtures &**
**Fittings**
**£**
**6,324**
**-**
**6,324**
**5,913**
**103**
**6,016**
**308**
**411**|**Office**
**Equipment**
**£**
**24,410**
**-**
**24,410**
**23,986**
**106**
**24,092**
**318**
**424**
**2023**
**£**
1,711
500
221
**2,432**
**2023**
**£**
(2,194)
405
**(1,789)**|**Total**
**£**
**949,746**
**-**
**949,746**
**442,532**
**18,589**
**461,121**
**488,625**
**507,214**
**2022**
**£**
3,275
500
**3,775**
**2022**
**£**
158
131
**289**| |---|---|---|---| 14 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited **Notes to the Financial Statements** ## **13 Statement of funds** ## **Statement of funds - current year** |General Funds
**Total of funds**
**Statement of funds - prior year**
General Funds
**Total of funds**|**Balance at**
**01 April**
**2022**
**£**
584,265
**584,265**
Balance at
01 April
2021
£
601,261
**601,261**|**Income**
**£**
89,039
**89,039**
Income
£
94,881
**94,881**|**Expenditure**
**£**
(112,408)
**(112,408)**
Expenditure
£
(111,877)
**(111,877)**|**Balance at**
**31 March**
**2023**
**£**
560,896
**560,896**
Balance at
31 March
2022
£
584,265
**584,265**| |---|---|---|---|---| All restricted funds have been provided to the company for particular purposes, for example, the purchase of fixed assets or for funding the costs incurred on specific projects. 15 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited **Notes to the Financial Statements** ## **14 Analysis of net assets between funds** ## **Analysis of net assets between funds - current period** |Tangible fixed assets
Current assets
Creditors due within one year|**Unrestricted**
**funds**
**2023**
**£**
488,625
70,482
(1,789)
560,896|**Total**
**funds**
**2023**
**£**
**488,625**
**70,482**
**(1,789)**
**560,896**| |---|---|---| ## **Analysis of net assets between funds - prior period** |Tangible fixed assets
Current assets
Creditors due within one year|**Unrestricted**
**funds**
**2023**
**£**
507,214
77,340
289
584,265|**Total**
**funds**
**2023**
**£**
**507,214**
**77,340**
**289**
**584,265**| |---|---|---| ## **15 Pension Commitments** The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to **2023 £** 178 ## **16 Related Party Transactions** Except for the disclosure in respect of the reimbursement of trustees' expenses in note 9, there are no additional related party transactions to disclose. 16 of 16 2023 - Trustees' Report and Financial Statements - Crich Glebe Field Trust limited