## **BULWARK COMMUNITY CENTRE NOTES ON THE ACCOUNTS FOR THE FINANCIAL YEAR JUNE 1[ST] 2021 TO MAY 31[ST] 2022** ## **1.SUMMARY** There was a surplus for the year of £5479 Income at £31551was 22% lower than the previous year that included Welsh Government grants of £23000 and furlough at £7065.. Expenditure at £26072 was £4477 higher than the previous year. Reserves of £43002 were held of which £20000 were to provide a contribution to re-furbishment costs ## **2. INCOME** Rentals at £12532 were well below pre-pandemic levels. Chepstow Town Council Operating Grants 0f £16000 included £8000 granted for the 2022/2023 year. Final furlough grants of £1622 were received. Fundraising income was mainly provided by light lunch proceeds. An anonymous donation of £400 had been received. ## **3. EXPENDITURE** Wages for our part time administrator and cleaner, and litter picker remained the highest element of expense at £14911 – 2% higher than previous year Wages expenditure includes pension provision, and Inland Revenue payments. Equipment costs were £1024 covering new cctv installation and a new fridge. Utilities at £3422were 19% above the previous year Maintenance at £3192 was 29% higher and included tree felling and fencing replacement. Most of the balance of maintenance related to the regulation safety and security checks. Other expense included the first payment to the consultant overseeing the refurbishment lottery application. ## **4. RESERVES** £14000 was held in the Charities Investment Fund and is the statutory requirement of the Charity Commission. A further £29000 was held in a Lloyds Saving Account including a potential £20000 contribution to the refurbishment costs. ## **5. CURRENT AND FUTURE PROSPECTS** With rentals still well below pre-pandemic levels and hugely increasing costs including energy we will need to monitor costs closely to maintain a positive current account. T.M.WOOD Treasurer for the Annual General Meeting September 12[th] 2022 ## **BULWARK COMMUNITY CENTRE** ## **ANNUAL REPORT TO TRUSTEES FOR THE AGM 10[TH] OCTOBER 2022** The Bulwark Community Centre continues to provide a resource for the local community many of whom live in deprived circumstances, to meet for the purpose of social, educational, exercise and entertainment purposes. We await a decision from the Lottery Fund on our application to provide significant financial support for the ambitious refurbishment project – much needed as the Centre ages and fails to meet the requirements of a modern and accessible community resource. Following the resumption of our services following covid restrictions it is clear that income has been badly affected with some groups not resuming their activities and some closing down completely. We have managed to retain an adequate current account thanks to the substantial grant and furlough funds received during the pandemic. However this is being steadily eroded with lower incomes and significantly higher costs, and we are now close to drawing down from reserves to maintain funds to cover operating costs. We rely on the annual operating grant provided by Chepstow Town Council to achieve a sustainable Balance Sheet and we are extremely grateful for that. The planned refurbishment and disability compliant project will, it is anticipated, enhance the attractiveness of the Centre to a wider and more diverse user base. We must acknowledge the continuing commitment of Mrs Lynne Atkins, our administrator who has provided a safe and welcoming environment for our many users. ## **T.M.Wood (Secretary and Treasurer)** |**BULWARK COMMUNITY CENTRE ACCOUNTS**|**BULWARK COMMUNITY CENTRE ACCOUNTS**|**BULWARK COMMUNITY CENTRE ACCOUNTS**|**BULWARK COMMUNITY CENTRE ACCOUNTS**|**BULWARK COMMUNITY CENTRE ACCOUNTS**|**BULWARK COMMUNITY CENTRE ACCOUNTS**|||||| |---|---|---|---|---|---|---|---|---|---|---| |**FINANCIAL YEAR 1ST JUNE 2021 TO 31ST MAY 2022**||||||||||| |||||||||||| |||||||||||| |**INCOME**||||||**EXPENDITURE**||||| |||||||||||| |**Rentals**||||**12532**||**Wages**|||**14911**|| |**Operating Grant Chepstow T C**||||**16000 **|*****|**Maintenance**|||**3192**|| |**HMRC GRANT(Furlough)**||||**1622**||**Utilities**|||**3422**|| |||||||~~**Insurance**~~|||~~**695**~~|| |**fundraising**||||**980**||**Rates**|||**124**|| |**donation**||||**400**||**Grounds maintenance**|||**300**|| |**Other income**||||**17**||**Supplies**|||**199**|| |||||||**Equipment**|||**1024**|| |||||||**Cashpurchases**|||**380**|| |||||||**Other expense**|||**99**|| |||||||**fundraising**|||**466**|| |||||||**consultancy fees**|||**1260**|| |||||||**Surplus for theyear**|||**5479**|| |||||**31551**|||||**31551**|| |||||||||||| |**Balance brought forward**|||||||||**46210**|| |**Plus surplus for theyear**|||||||||**5479**|| ||||||||||**51689**|| |**Represented by**||||||||||| |**Charity Fund Investment Ac**|||||||||**14000**|| |**Lloyds "Saving Account"**|||||||||**29002**|**| |||||||||||| |**current account**|||||||||**8647**|| |**cash**|||||||||**40**|| ||||||||||**51689**|| |||||||||||| |*** £8000 of this was received in May 2022 to cover 2022/2023**||||||||||| |**** Includes £20000 reserved for the Centre's contribution to re-furbishment expenses.**||||||||||| |||||||||||| |**TMW FEBRUARY 2022**||||||||||| CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the twsteesl members of BULWARK COMMUNITY CENTRE laANAGEMENT TRUST On accounts for the year ended 31ST MAY 2022 Chaiity no lif any) 1048141 Set out on pages I report to the trustees ¢)n my eXaMinat￿n of the charity {Yhe Trust-l for the year ended 31 / e C Respon8ibilillos and As the chanty trustees of the Tnjst, you are reSF￿￿Slb1e ft)r the preparalion basls of report of the accounts in accordance with the requirements of the Chariiies Acl 2011 (Ihe knr). counts of the above I report in resped of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 14515Xbl of the Ad. I have completed my examination. I confim that no material matters have come to my attent￿n ') in conneclion with Ihe examination which gNes me Cause to believe that in, ary material Tespect: accounting records were not kept in aC￿danCe with $ertion 130 of the Act or the.￿OUnts do not ￿¢0[d with th8 accounting records Indepondent examinerfs statement I have no concems and have ¢{￿r￿ across no other matters in connection wrth the examinatton to which attention should be drawn in order to enable prO￿r understanding of the accounts lo be reached. ' ￿eaSe delele the words in the br8ckets rfthey do not apply. Slgned: Date: Lo13 Name: Relevant professional qualification(s) or body (if any): Address: sl- 4￿￿ tN£ IER October 2018