Company registration number. 03114198 Cbarity registration number. 1050794 Aylesham And District Community Workshop Trust (A Company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024 Batchelor Coop Ltd TheNew Barn Mill Lane Easty Sandwich CT13 OJW
Aylesham And District Community Workshop Trust Contents Ref¢renc¢ and Administrative Details Trust¢¢s' Report 2toS ststement of Tntstees, Responsibilities tndependent Examintrs Report StatsD)ent of Financial Activities 8t09 Balance Sheet Iotoll No*s to the Financial Statements 12to26
Aylesbam And Diqtrict Community Workshop Trust Reference and Administrative DetsiLs Trustees A Dogg¢tt SMBott J Davies C Duffield J E Flaig S M Mamjan S Manion N H B Ratcliffe C Williams Seeretary E Barnes Charity Registration Number 1050794 Company Registration Number 03114198 Th¢ charity is incorporated in England and Wales. Acltholt Road Ayleshajn Kent CT3 3AJ Registered Offi¢¢ Independent Examiner Batchelor CIK)p Ltd The New Barn Mill Lane Easty Sandwich CT13 OJW Solicitors: Furley Page 52-54 High Street Whitstable Kent CT5 IBG Binkers Lloyds Bank PLC 49 High Street Canterbury Kent CTI 2SE Page I
Aylesham And District Community Workshop Trust Trustees, Report The trustees, who are directors for the purposes of company law. present the annual report together with the financial statemenls of the charitable company for the Ye ended 31 March 2024. Objeetives and aetlvities Objects and The principle object of the charity is to benefit the persons of Aylesham and the rural district with the objective of improving the quality of life for those persons, by providing or assisting in the provision of facilities for the advancement of education, recreation and employment. Public benefil The trustees Conf that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Lommissiotb for England and Wales. Trustees and officers The trnstees and officers serving during the year and since the year end were as follows.. Trustees: A Doggett SMBott J Davies C Duffield J E Flaig S M Mamjan (appointed 28 November 2023) S Manion N H B Ratcliffe C Williatns (appointed 28 November 2023) F W J Marsh (deceased 2 October 2023) N Scrivener (resigned 28 November 2023) P Walker (resigned l May 2023) S Williams (deceased 15 October 2023) Secretary., E Barnes Page 2
Aylesham And District Community Workshop Trust Trustees, Report Risk management The Trustees examine the major risks that the charity faces each fanCIal year and where necessary seek to develop systems to monitor and control these risks, to miligate any impact which they may have on ihe future of the charity. Business Operations What a year it has been! Our staff and trustees have been busy making plans for the tUre and developing our site to become the active community it should be for the benefit of the people of Aylesham. W¢ kicked off the fmancial year with a staff and trus1¢¢ 'away day, to assess where we were as a Trusi and what we wanted to achieve in the thture. We reviewed our strategic plan, discussed how we could make the most of our assets on site including our main building and land not currently in use. We are lucky lo occupy what is substantial site which used lo be the old secondary school. But being asset rich brings its own challenges as we need to raise th¢ funds lo put those assets to good use. We also considered our branding and marketing agreeing to adopt the iiame 'Ayl¢sham Community Trust, and our new colourful. modcTn logo. In June. following the departure of one of our staff, we success11Y appointed to 8 new rol¢ of Customer Services and Support Officer. This post has enhanced our staff leam enabling the team to tackle many long-standing maintenance and seryice delivery issues. Thanks to our sharp-eyed CEO. who noticed the imminenl closure of the SAGA sites in Folkestone, we have been able to acquire kitchen and catering equipment worth several thousand pounds. A trustee group was established io support our CEO in plamiing our catering offer, drawing up a three-year business plan and applying for loan fll)anc¢. These days running any hospitality venture is ¢hall¢nging so we are proceeding with caution but are looking forward to the commencemenl of the Old School Coffee Shop and Kitchen in 2025. We have made our main building available to local community groups and developed the Community HQ for groups to use for their meetings and to provide a postal address so that people do not have to use their personal addresses. At the end of this financial year, we had 12 organisations using this facility including the Carnival. Aylesham Ill Touch magazine, Aylesham4Aylesham. Aylesham and Rural Community Heart and the Snowdown Colliery Welfare Male Voice Choir. A number of community events have taken place this year which the Trust has either organised or been participants in. We had a week of events on site under the banner We are Aylesham which helped groups lo drum up new Members and showcased the mining heritage of Ayl¢sham. Amongst our many plans we intend that our sile should become an arts and cultural space as this is lacking in the village. Our cinema club showed a number of films including the Chair's favourile Elf just before Christmw. Wotking in partnership with Espression Arts and funded by Dover District Council community granl we ran s¢ri¢s of cr¢ativ¢ coffee mornings which were really well att¢nd¢d. 2024-2025 represents ihe 40ih anniversary of the national miners, strike that had an enornious impact in Aylesham. In discussion with forn)er miners in Aylesham and the surrounding coalfield area il was agreed to stage commemorative events. A strike comniemorative committee was fornied and both Trust staff and trustees were active participants. A major event was lield in May this year but more of that in next year's report. As in previous years, we administered the JOK grant fvnd from the Coalfield Regeneration Trust and our own 6K small granls programme to local community groups in Aylesham and ihe surrounding fonner Kent coalfield area, beneficiaries included Aylesham Scouts, the Arts club at Bechamge and the Green Howards to enable them to attend the 80th anniversary of the D-Day landings. Page 3
Aylesbam And District Community Workshop Trust Trustees, Report During the year we have continued to work closely with Bechange, an organisation that is based on our site and runs activilies of benefit to the local community. There a two key partnership projecls. The community garden which continues to thrive although the main funding for this project (through Aspire) has now come to an end and the social pantry- This is based in our main building but 15 also rnn by Bechange and it continues to grow, providing a much-needed SeTvice in reducing grocery shopping costs for its members. Aylesham Panty was the IOOth panty to be established in F.ngland. The Co-op. who snsOr food pantries. held a celebration event with us and l 00 people from our community in June. li was a good relebratory and networking day. It also showed us how nice our main hall can look when it is all decked out in fancy tsbles and chairs! Our site has continued to be a successful place for small businesses to operate and, for the most part, thrive. For most of ihis year we had l 00/0 occupancy of our otrices in Garrily House and our units on Miners Way. This was the best we have ever achieved. We have also been developing a new strategic parlnership with East Kent College for them to deliver support to students from our site. Unfortunately, we have not been immvne to the effects of climate Change. The ferocity of the winter storn)s, including on one day a mini tornado, resulted in considerable damage to the roof on our main building and Garrily House r¢qiiiring ui'&ieiii repuirs. The slaff did a faiilli slic job identifying all the daiiiage and Lyelliiig buckels ui)demcutli! Tliere will be niore to coiiie so it deiiionsirdied how crucial it is to keep up to dale with buildiiiLI IliLiinlen(IIIL'C. Our CEO represented the trnsl at a numb¢r of events throughout the year including The Carnival selection night held in our main hall, the Remembrance Day service, and the performance of St Joseph's school choir. Our trustee board has met flve times during th¢ year wher¢ we have considered plans for the futur¢, signed off policies needed to run our Trust and reviewed our financial posilion. The system of sub groups covering finance, staffjng and remuneration, and governance has also worked well helping the board meetings to focus on the decisions that need to be made. We were all saddened when we received news of the deaths of ttvo Trustees during the course of the year. Both Steve Williams and Fred Marsh will be very much missed by all of us. After many years service as a Trustee we also said goodbye to Neil Scrivener who stood down due to increasing work commitments and we thank him for all his support over the years and wish him well. We have also welcomed Maria Mamjan to the Trustee Board following her election as one of our District Councillors. I should like to thank OUT dedicated band of trustees who put in a lot of work and. l am very pleased to report, are good attenders at our meetings. Finally, I should like to thank our stsff team - Emily. Lisa, Marla. Rachel, and Andy they work very well together and are always willing to go above and beyond when nveded. We are luLky to havc them. I am pleased to say that our community trust is a good news story but watch this space. we will do even better next year! Structure, governance and managemenl Nalure ofgovernlng document The company is registered as a charitable company Limited by Guardntee and was set up by a Memorandum of Association on 16 October 1995. Recruilmenl and appolntmenl oflruslees The Trust has policies and procedures in place for the recruiting, induction and training of new trnstees. This policy is under review. Page 4
Aylesham ADd District Community Workshop Trust Trustees, Report Organisallonalstrmrture The management of the charity is the reswnsibility of the Trnstees wbo are el¢ct¢d and co-opted under the tenns of the Memorandum and Articles of Association of the company. They fomi a board of Directors which is responsible for the general control of the charity. Trusteesmirectors are volunteers, give their time freely and receive no remuneration or other fmancial benefits in respect of theiT voluntary position, save that reasonable expenses (nolably travel) may be paid. Ttee5/DIreCtOrS meet together on a regular basis. Day lo day management of the charity and its ass¢ts are delegated to paid staff and volunteers. The annual report was approved by the trustees of the charity on 26 November 2024 and signed on its behalf by: E Barnes Company secretary Page 5
Aylesham And District Community Workshop Trust Statement of Trustees, Responsibilities The trnstees (who are also the direclors of Aylesham And District Community Workshop Tn]si for the puOseS of company law} are responsible for preparing ihe tru5tees' report and the financial statements in accordance witl) applicahle law and Llnited KiiigFdom Accounting Sisdards (United Kiii¥dom Generally Acc¢pted Accouiiling Practice), includinbT FRS 102 "The Finaiicial Reporting Stamdard applicable in the UK and Republic ot. Irelaiid, Company law requires the trustees to prepare fmancial stateTnents for eacli fiiiancial y¢Rr. Uijder company law the trustees must not approve the financial statements uiiless they are sat15tied tl)al they give a Irue and fair view of the sl¥11¢ of a rruirs of the Lliurilabl¢ compaiiy of the incoming resouTLe5 and application uf resources, includin&i ils incoi)ie and expeii(lilui'c. of the Ll)aritable, company for that period. In preparing these fmancial statements, the trustees aTe required to.. select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and pNdent' state whether applicable accounting standards, Coillpi'ising FRS 102 have been followed. subject to any material departures disclosed and explained in the fiiiaiiLial statemLiils; and prepare the finan¢ial statemcnts on the going conceTn basis unless it is inappropriate to presume that the charllable company will continue in business. The Irustees are responsible for keeping proper 8ccounting reL()I'cIs Ilial Lan disclose with reasoi)iil)le ¢lLLUnlLy at any time Ilie financial position of tli¢ cliarilable coiiipk)ny and eiiable Iliciii to ensure that the lin4iii¢ial 51aleiiieiits comply iviili the Companics Act •006. Tliey are iilso responsible for safeguarding the assets of th¢ ¢harAtabl¢ company and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. The trustees are responsible for the maintenance and infrgrity of the coOrate and financial infornjation included on the Chiiriliible ioiiipaiiy's Wcl?silL'. I.¢&Tisl¢ilioii govLming the preparation and dissemination of financial statements lil¢lJ dillir I I'uii) IL&yislaij()ii in ()Iliei' jLlI'i.4dfftciiuiis. Page 6
Aylesham And District Community Workshop Trust Independent Examiner's Report to the trustees of Aylesham And District Community Workshop Trust ('the Company,) I report to the charity trustees on my examination of the accounts of the C<)mpany for the year ended 31 March 2024. Responsibilities and basls of report As the chaiity's trustee5 of the Company (and also its directors for the purposes of company law) you aTe responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2000 ('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 Charitie5 Act 2011 {'the 2011 Act,). In caTrying out my examination I have followed the Directions givcn by the Charity Commission under section 145(5Xb) of the 2011 Art. Independent examiner'5 Statement Since the Company's gross iTJcome exceeded £250,000 your ¢xamineT must be a member of a body listed in section 145 of the 201 l Act. J confiTm thai l am qualified to und¢rtake the examination because l am a memlxr of Ihe Association of Accounting Technicians. which is one of the listed bodies. I have completed rny examination. I confwm that no matters have come to my attention in connection with the examination giving me cause lo believe: l. accounting records were not kept in respecl of Aylesham And District Community Workshop Tst as required by seclion 386 of the 2006 Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accountlng requirements of section J96 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 Practiee for accounting and reporting by charities [applicable lo charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (I.-RS 102)]. I have no concerns and have come across no oiher matters in connection with the examination to which attention hould be drdwn in this report in ordcr to en<ible a proper understanding of the accounls IL) be leached. Martin Roby FMAAT Batchelor Coop Lid The New Barn Mill Lane Eastry Sandwich CT13 OJW 28 November 2024 Page 7
Aylesham And District Community Workshop Trust Statement of Finaneial Aetivities for the Year Ended 31 March 2024 (Including Income and Expenditure Aceount and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2024 Note Income and Endowments from: Charitable activities Other trading activities Investment income 160,995 103,982 3,408 30,000 190,995 103,982 3,408 Total income 268,385 30,000 298,385 Expenditure on: Raising funds Charilable activities (5,555) {255,548) (5,555) 1305.149 (49.601) Total expenditure 1261,103) (49.601) (310,704) Nel incomel{expenditure) Transfers between ndS 7,282 (22,038) {19,601) 22,038 (12,319) Net movement in funds (14.756) 2,437 (12,319) Reconciliation of fulld5 Total funds brought forward Total funds carried forward 331,553 1 ()78,410 2.309,963 19 316,797 1,980,847 2.297,644 The notes on pages 12 to 26 forn] an int¢grJl part of these financial statements. Page 8
Aylesham And District Community Workshop Trust Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestritted funds Restricted runds Total 2023 Note Income and Endowments from: Charitable activities Other trading activities Investment income 139,513 115,407 270 30,000 169.513 115,407 270 Total income 255,190 30,000 285,190 Expenditure on: Raising funds Charitable activilies (6,923) (230,588) {6.923) 278.726 (48,138) Total expenditure Gain511osses on investment assets (237,511) (48,138) 535,000 {285.649) 535,000 Net income Transfers between funds 17,679 (19,675) 516,862 19,675 534,541 Net movement in fi]nds (1,996) 536,537 534,541 Reton¢iliation of funds Total funds brought fon¥ard 333,549 1,441,873 1.775,422 Total funds carried forward 19 331,553 1,978,410 2,309,963 All of the charity's activities derive from continuing operations during the above two periods. The fvnds breakdown is shown in note 20. The notes on pages 12 to 26 fom an integral part of these financial statements. Page 9
Aylesham And District Community Workshop Trust (Registration number: 03114198) BalaDce Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets Invesknents 12 13 1,035,893 1,185.000 ,065,519 .185.000 2,220.893 2.250.519 Current assets Debtors Cash at bank and in hand 14 20,158 223,490 32.658 226,951 15 243,648 259.609 Credilors: Amounts falling due within one year Net current assets 16 (119,588}. 124,060 (130.341) 129268 Total assets less current liAbilitle5 2,344.953 2,379,787 Creditor$: Amount$ falling due after more than one year Iyet assets 17 (47,309 (69.824 2,297,644 2.309,963 Fuuds ofthe eharity: Rtslricted ineome funds Restricted ndS Revaluation reserve 1,445,847 535,000 1.443,410 535,000 Total restricted funds 1,980,847 1,978,410 Unrestrieted Income fi]nds Unrestricted thnd5 316,797 331,553 Total funds 19 2,297,644 2.309.963 The notes on pages 12 to 26 fonn an integral part of these fmancial statements. Page 10
Aylesham And Distriet Community Workshop Trust (Registration number: 03114198) Balance Sbeet as at 31 March 2024 For the financial year ending 31 March 2024 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476. and The directors acknowledge their rcsponsibilities for complying with the requircments of the Act with respect to accounting records and the preparation of accounts. The fmancial statements on pages 8 to 26 were approved by the trustees, and authorIs for issue on 26 Nov¢mber 2024 and signed on their behalf by: SMBott Trustee The note5 on pages 12 to 26 forni an inlegrdl part of these fmancial statements. Pagell
Aylesham And District Community Workshop Trust Notes to the Finaneial Statements for the Year Ended 31 March 2024 I Charity status The charity is limited by guarantee, incoorated in England and Wales, and consequently does not have share capital. Each of the trnstees is liable to contribute an amoLtnt iiot exceeding £10 towards the assets of the charlty in the event of liquidation. The address of ils registered oifice is: Ackholt Road Aylesham K¢nl CT3 3AJ Thesc financial slatements were authorised for issue by thc trustees on 26 November 2024. 2 A¢¢ountlllE policies Summary of significant accounting policies and key accoiinting estimates The prinLipal accoiiTiling policies applied in the i)r¢'parniion ol- Iliese financial slaicnients are set out below. These policics liiive l)een consistently applied to all IliL' ye<irs presciiled, unless otherwisL slated. St4t¢ment of eompliance The fmancial statements have been prepared in accordance wilh Accounting and Reporting by Charilies: Staiement of Reconimended Praciice (applicable to charities preparing their accounts in accordance with ihe l."IllÉiiiLial RLPOnillb Siilnilill'd cippl iLtible in the IIK lind R¢publiL i)I' IrL'liiiid (FRS 102)) (issued in October ?019) (Cliiii'iliLs S()RP (fRS 102)). Il)e fiiiaiicial Rep()rtiiib) Sliiiidar<l appliLable in the UK #lid Republic of Ii'elciiid 11,'RS 102) tind the Conii)gki)ies Acl 2006. Basis of preparalion Aylesham And District Community Workshop Trust meets 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 notes. Coing toneern The tSteeS consider iliai iliere are no material unrertainties dboLiI Ilie charily's ability lo coiilii)tie as a going concern nor any signilicaiit iii'eas of uncertaiiily that1 ¢ftecl Ihe c.arry'ing value of assets held by Ilie Lli4irity- Incume and endowment5 All income is recognised once the charity has entitlement to the income. it is probable ihat the income will be received. and the amount of inLome receivable can be measured reliably. Income dcrived from the provision of goods or services is slated after any di5rounls and llel of VAT. GranL¥ recelvable Grants al'e recogiiiised wlieii Ilie chai'ity l)as ali enliilenieiii to the funds and any conditions linked to the grants liave beet) niel. Wliei'e perlorniaiiLe condilivi)s are ¢illaLI)ed to the grdnl and are yet to be ii)Ef, the incvine is rc¢ognised as a liability <?nd ii)cliide(l on the Iialance .slieet as deferred income to be released. Page 12
Aylesham And District Community Workshop Trust Notes to the Financial Statements for the Year Ended 31 March 2024 InvuIttni Ineome Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expendilure All eXndItUre is recognised once the is a legal or constructive obligation to that expenditure, it is probable settlement is requited and the amount can be measured reliably. All cosls are allocated to the applicable expenditure heading thal aggregate similar cosls to that category. Where costs cannot be directly attribuled io particular headings they have been allocated on a basis consistent wilh the use of resources. with central staff costs allocated on the b&8is of time spent, and depreciation charges allocated on the portion of the asset's use. Other SUPPDrt costs are allocated based on the spread of slaff costs. RaisingfuNds These are costs incurred in attracting voluntary income, the management of invesknents and those incurred in trading a¢tiviti¢s that raise funds. Charilable actlvliles Charitable expenditure comprises ihose costs incurred by ihe charity in the delivery of its activities and services for its beneficiaries. It includes bolh costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Grunlprovtslons Provisions for granls are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. Support costs Support costs include central functions and have been allocated to activity cost calegories on a basis consistent with the use of resources, for example. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Covernance costs These include the costs attributable to the charity's compliance with constitutional and statutory rcquirements, including audit, strategic managemenl and truslees meetings and reimbursed expenses. T4xotion The charity is considered to pass the tesls set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meet5 the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extenl that such income or gains ale applied exclusively to charithbl¢ purposes. Tangible fixed a55et5 Individual red assets rosting £500.00 or more are initially recorded al cost. Page 13
Aylesham And District Community Workshop Trust Notes to the Financial Statements for the Year Ended 31 Mar¢h 2024 Depreciailon and amortisation Depreciation is provided on langible fjxed assets so as to WTi¢e off the cost or valuation, less any eslimated residual value, Over their expected useful ¢¢onomic life as follows.. Asset class Plant and ma¢hinery Fixtures and fittings Freehold property Motor vehicles Leasehold improvements Inveslment asset Depreciation method and rate 25 /0 reducing balance 1511/0 reducing balance Not depreciated 250/0 redu¢ing balance StraTght line over 50 years Not depreciated Investment properties Investment property is carried at fair value, derived from ihe currenl market prices for comparablc real estate del¢n)iiiied annually by Ilie Ii'i151ees. The trustees use observhble Iiiarket priccs, adiusied if Ii¢¢¢ssury for any difference in the nature, localioii or condilion of the spe¢ifi¢ o5set. Chonyes iii ILllI' valLie are I'e¢oLFnised in profil or108s. Trade debtors Trade debtors are amounts due from customers for merchandise sold or servi¢¢s performed in the ordinary course of business. Trade debtors are Tecognised initiall), at the transaction price. They are subsequently measured at amortised cost using tlie effective interest inetliod, less provision for impaimieni. A provision for the impairment of irade debtors is established when there is objective evidence tliat the charity will not be able to collect all amounts due according to ihe original ternis of the rec¢ivables. Cash and cash equivalents C'ttsli ¢ind C<isI) equivalL'nLw comprise cash on hand and call depnsils, ai)d otlier short-lcriii highly liquid invesliiieiits Ilitil are readily convertible to a known amount of casli 1)d are subjecl to ali ii)sig?nificant risk of Cli)ge iii valiie. Trade ereditors Trade ¢reditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounls payable are classified as current liabilities if the charity does not have an uncondltional right. at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least Iwelve month5 afier the reporting date. they are presented as non-currenl liabilities. Trade creditors are recognised initially at the Iransaction price and subsequently measured at amortised cost using the effective inl¢rest method. Page 14
Aylesham And Distriet Community Workshop Trust Notes to the Finaneial Statements for the Year Ended 31 March 2024 Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing boTrowings are subsequently Calea at amortised cosl. wilh the difference belween the pro¢¢eds. net of transaction costs, and the amouni due on redemption being re¢ognis¢d a5 a charge lo the Statement of Financial Activities over th¢ period of lh¢ relevant borrowing. Interesl expense is recognised on the basis of the effective interesl method and is included in inlerest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liabllity for at least twelve months after the reporting date. Foreign ¢x¢hange Transactions in foreign CUTrencies are recorded at the rate of exchange at the date of the transaction. Monetsry assets and liabilities denominaled in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing al tllai date. Tlie results of overseas operalions are translated at the average rates of exchange during the period and their balance sheets at the rates rnling at the balance sheet date. Bx¢hang¢ differences arising on translation of the opening nel assets and results of overseas operations are reported lli oth¢r comprehensive income and accumulated in equity (attribuled to non-rontrolling interests as appropriate). Other exchange differences are recognised in the Statement of Financial Activities in the period in which they orise except for: l ) exchange differences on transactions enlered into to hedge certain foreign cUencY risks (see above). 2) exchange differences arising on galns or losses on non-monelary items which are re¢ogni5ed in other compr¢l)¢nsive income,. and 3) in the case of the consolidated fmancial statemenls, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forniing part of the net investment in the foreign op¢ralion}, which are recognised in other comprehensive income and reported under equity. Fund strueture Unrestrlcted income funds are general funds that are available for use at the trustees discretioii in furtherance of the objectives of the charity. Restrlcted in¢om¢ funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or PUTPOSe. Financial instruments Classljlcrtilon Financial assets and financial liabilities are recogni5ed when the charity becomes a party to the contraclual provisions of the instrument. Financial liabililies and equity instruments are classified according to the substance of ihe ¢ontra¢lual arrangements enl¢r¢d inio. An equity inslrument is any contracl that ¢videnc¢s a residual interesl in the assets of the charity after deducting all of its liabilities. Page 15
Aylesham And District Community Workshop Trust Notes to tbe Financial Statements for the Year Ended 31 March 2024 Recognlilon and measuremenl All funCIal assets and liabilities are initially measured at transaction price (including transaction costs), except for those fmaneial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is norn]ally ihc transaction price excluding transaction costs). unless thc arrangement constitutes a fmancing transaction. If an arrang¢ment constitutes a fmancing transaction. the financial asset or financial liability is measured at the present value of the fulure paymenls discounted at a market rdte of interest for a similar debt instrument. Financial assets and liabiliti¢s arc only offset in the stalement of financial positioii when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultsneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the fmancial asset expire or are settled. b) the charlty transfers to anoiher pariy substantially all of the risks and rewards of ownership of the fmancial asset, or ¢) the charity. despile having Telained some, but not all, signifiTht risk5 and rewards of ownership, has transferred control of the asset to another party. Financial liabilitie5 are dere¢ognised only when the obligation spe¢ified in the contract is discharged, cancelled or explres. Debi Inslruments Debt instnunents which meet the following conditions are subsequently measured at amortised cost using the effective interest melhod.. (a) The contractual return to the holder is (i) a fixed amount,. (li} a positive fixed r&te OT a positive variable rate,. or (iii) a combination of a positive or a negative fixed rate and a positive variable rate. (b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflalion of the currency in which the debt inslrnment is denominated, provlded such links are not leveraged. (¢) The contract may provide for a deterniinable variation of the return to the holder during the life of the instrument. provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events othcr than (l) a change of a contractual variable rate. (2) to protecl the holder against credii deterioration of the i5suer' (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law. or (li) the new rate Is a market rdte of interest and satisfies condition (a). (d) There is no contractual provision that could, by its tcrnis, result in Ihe holderlosing the principal amounl or ¢my interesl attributable to the current period or prior periods. (e) Contractual provisions that perniit the issuer to prepay a debt instrnment or perniit the holder to put it back to the issuer bcfore maturity are not contingcnt on futurc events, othcr than to protcct the holdcr against the credit deteri(Trration of the issuer or a change in control of the issuer. or to proteci the holder or issuer against changes in levics applied by a ¢¢ntral bank or arising from changes in relevant taxation or law. (D Conlractual provi5ion5 may perniit the extension of the terni of the debt instrument, provided that the return to the holder and any other contractual provisions applicabl¢ during Ihe exl¢nded lerni satisfy ihe ¢onditions of paragraphs (a) to (c). Page 16
Aylesham And District Community Workshop Trust Notes to the Financial Statements for the Year Ended 31 March 2024 Debt instrnments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amounl of ihe c&8h or other consideration expected to be paid or received, net of impairment. With the exception of some hedging instrnments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments. to Tnake and receive loans which meet the conditions mentioned above aTe measured al cost (which may be nil) less irnpaimient. Inveslmenls Investmenls in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or10sS. Where fair value Cannot be measured reliably. investments are measured al cost1¢ss impaiTment. Investments in subsidiaries and associates are measured at Cost less impairn]ent. For inveslmenls in 5ub5idiaTies acquired for Consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium i5 ignored. Derivoilveflnancial inJlrHments The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and inlere5t rate movements. The charity does not hold or issue derivative fman¢ial instruments for speculative purposes. Derivatives are inilially recognised at fair value al the date a derivatlve contract is entered into and are subsequently remeasured lo their fair value at each reporting date. The resuliing gain or loss is recognised in statement of fmancial aclivities immediately unless the derivative is designated and effeclive as a hedging instrument, in which event the timing of the recognition in statement of financial aclivities depends on the nature of the hedge relationship. Falr value measuremenl The best evidence of fair valu¢ is a quoled price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a signifjcant change in economic circumstances or a significant lapse ot time since the trdnsaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good cstimate of fair valuc, the fair value is estimated by using a valuation technique. 3 Income from charitablt activilies Unrestrieled funds General Restricled funds Total funds Charitable activities 160,995 30,000 190,995 Total for Z024 160,995 30,000 190,995 Total for 2023 139,513 30,000 169,513 Page 17
Aylesham And District Community Workshop Trust Notes to the Financial Statements for the Year Ended 31 March 2024 4 Income from other trading activStles Unrestricted funds G¢Theral Total funds Property rental incorne 103.982 103,982 Total for 2024 103,982 103,982 Total for 2023 115,407 115.407 5 Investment ineome Unrestricted funds General Total 2024 Total 2023 Interest r¢¢¢ivable and similar income; Interest receivable on bank deposits 3,408 3,408 270 Unres¢rleted funds General Total funds Interesl receivable and similar in¢ome' Interest receivable on bank deposits Total for 2024 3,408 3,408 3.408 3,408 Total for 2023 270 270 6 Expenditure on charltable a¢tivltles Unrestricled fund5 General Reslricted funds Total funds Note Charilable aclivities Grant fundlng of activities Allocated support costs Governance costs 240.135 {372) 646 15,139 21,295 28,306 261.430 27,934 646 15,139 Tot#1 for 2024 255.548 49.601 305,149 Total for 2023 230,588 48.138 278.726 Page 18
Aylesham And District Community Workshop Trust Notes to the Financial Statements for the Year Ended 31 March 2024 7 Analysis of governance and support costs Governance costs Unrestricted funds General Total funds Staff costs Other stsff costs Other governance costs Allocated support costs 172 252 14,715 172 252 14,715 Total for 2024 15,139 15,139 Total for 2023 19,955 19,955 8 Grant-making Analysls ofgrants Grants to institutions 2024 2023 An*lysi5 Grants awarded 27.934 33.172 The support costs associated with grant-making are £Nil (31 Mah 2023 - £Nil). Page 19
Aylesham And District Community Workshop Trust Notes to the Financial Statements for the Year Ended 31 March 2024 Below are delails of material grants made lo institutions 2024 2023 Name ol institution A&Dcwr A&SWWS Aylesham & Snowdown Bow15 Aylesham Arts Club Aylesham Herilage Aylesham Scouts Group Bechange Betteshangar Bowls Club Betteshangar Colliery Welfare Bettehangar Colliery Welfare Band Betteshangar Welfare FC Betteshangar Social Welfare Club Betteshangar Trading Arm Chislet Colliery Welfare E&E Heritage Group E&E Village Hall Elvington & E)thorne Elvington Conimunity Centre Green Howards Hillside House Allolment Kent Community Coal Court Kent Miners Mongeham F'ship Group Snowdown Colliery RFC Snowdown Colliery Welfare Band Snowdown Male Voice Choir Woodpecker Court Aclivlty Charitable activities Charitable activities Charitable activities Charitable activities Charitable activilies Charitable activities Charltable activitie5 Charitable artivities Charitable activities ChariLgble a¢tivities Charitable activities Charitable activilies Cliaritable activities Charitable activities Charitable activities Charilable a¢tivilies Charitable activities Charltable activities Charitable a¢tivities Charitable activit1¢5 Charitable activities Charitable activities Charitable activities Charitable activities Charitable activities Charitable activilies Charitable activities 900 ( 1,000) 2,194 304 1,531 225 5,568 3,322 1,440 899 3,000 9,500 3,000 2.200 3,000 500 2,100 2.302 2,990 377 ( 1.000) 500 3,200 1,000 843 4.125 506 1,133 (48) 200 4,429 ,866 (1,731) 27,934 33,172 9 Trustees remuneration and expenses No trustees, nor any persons connected with them. have received any remuneration from the charity during the year. No trustees have received any other benefits froni the charity during the year. Page 20
Aylesham And District Community Workshop Trust Notes to the Financial Statements for the Year Ended 31 March 2024 10 Staff costs The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as fvll time equivalents was as follows.. 2024 2023 AveTage number of employees No employee received emoluments of more than £60,000 during the year, Taxation Th¢ charity is a registered charity and is therefore exempt from taxation. 12 TAngible fixed assets Land and bulldlngs Furniture and equipment Other tangibl¢ rixed asset Motor vehicles Total Cosl Al l April 2023 At 31 March 2024 426,790 230,521 5,350 1,297,713 1,960.374 426,790 230,521 5,350 1.297,713 1.960,374 Depreclatlon At l April 2023 Charge for the year 217,221 2,336 4.873 119 672,761 27,171 894,855 29,626 Ai 31 March 2024 219,557 4.992 699.932 924.481 Net book value Ai 31 March 2024 426,790 10,964 358 597.781 1.035,893 Ai 31 March 2023 426,790 13,300 477 624,952 1,065,519 Page21
Aylesbam And District Community Workshop Trust Notes to the Financial Statements for tbe Year Ended 31 March 2024 13 Fixed asset investments 2024 2023 Investment properties ,185,000 1.185.000 Investment properties Investment properties Cost or Valuation At l April 2023 1.185,000 Provision Al 31 March 2024 Net book value At 31 March 2024 ,185,000 Ai 31 March 2023 1.185,000 The invesknenl properties were subject lo a fornial valuation by an independent valuer in November 2023. The INstees consider that ihe fair value of investment properties would not have been inaterially different to this valualion at the Balance Sheet date. 14 Debtors 2024 2023 Trade debtors Prepayments Other debtors 14.942 ,905 3.311 27,326 1,800 3,532 20,158 32,658 IS Cash and cash equivalents 2024 2023 Cash at bank 223,490 226,951 Page 22
Aylesham And District Community Workshop Trust Notes to the Financial Statements for the Year Ended 31 March 2024 16 Creditors: amounts falllng due wlthin one year 2024 2023 Bank loans Trade creditors VAT Other creditors Accruals 22.515 4.764 17.238 67,913 7,158 21,042 15,270 17.907 69.041 7.081 119.588 130,341 17 Creditor5: amounls falling du¢ after one year 2024 2023 Bank loan5 47.309 69,824 18 Pension and other schemes Defined ¢ontributlOD pension scheme The charity operates a defu)ed contribution pension scheme. The pension cost charge for the year represents contributions payable by the chlty lo the scheme and amounted to £3,836 (2023 - £4,000). Page 23
fn r)
Aylesham And District Community Workshop Trust Notes to the Financial Statements for the Year Ended 31 Marcb 2024 20 Related party transactions During the year the Charity made the following relafrd party transactions: S Manion (one of the trnstces) During the year the company charged rent and utilities of £4,740 {2023 £4,300) to a business operated by S Manion. These transactions were carried out at arnis length on nomial commercial tern)s. At the balance sheet date the amount due from S Manion was £360 (2023 - £Nil). N S¢rivener (one of the trustees) During the year the company charged rent and utilities charges of £5,285 (2023 - £4,955) to N Scrivener. These transactions were carried out al arnis length on nonnal commercial terms. At the balance sheet date the amounl due from N Scrivener was £528 (202) - £1.034). Bechange (a company in which A Doggel is the manager and J Flaig is a Trustee) During the year the company Charged rent and utilities of £11,550 (2023 £7,817) and awarded grdnt thnding tolalling £5,500 (2023 £9,500) to Bechange. Although ihe rent is not charged al a ¢ommer¢ial rate these transaction5 were caled out at amis length in accordance wilh the charity's objects During the year the company obtained services from Bechange totalling £948 (2023 £Nil),. At the balance sheet date the amounl due to Bechange was £4,444 (2023 - £8,828). Batchelor Coop Ltd (the ind¢p¢ndent examiner) During the year the company charged rent of £3,900 (2023 - £3,645) to Batchelor Coop Ltd. These transactions were Caled out at arms length on nornial commercial tenns. At the balance sheet date the amount due to Batchelor Coop Ltd was £288 (2023 - £360). Page 25
Aylesham And District Community Workghop Trust Notes to the Financial Statements for the Year Ended 31 March 2024 21 Analysts of net assets between funds Unrestrletsd Tolal funds 31 March 2024 Gen¢ral Reslricted Tangible fixed assets Fixed asset investments CUTnt assets Current liabilities Creditors over l year Total net assets 175,121 860,772 1.185,000 27.001 (44.616) (47.309) 1,035.893 1.185,000 243,648 (119.588) (47.309) 216,647 (74.972) 316,796 1.980,848 2.2()7.644 Unrestricted Tolal funds 31 March 2023 GeDeral RtriCted Tangible fjxed assets Fixed asset investments Current assets Cutreni iiabAliti¢s Creditors over l year Total net &ssets 183,452 882,067 1,185,000 25,943 (46,985) (69,824) 1.976.?01 .065,519 1,185,0¢)0 259,609 (130,341) (69,824 233,666 (83,356) 333 762 2.3119.963 Page 26