OLD HEATHCOAT SCHOOL COMMUNITY CENTRE (KINGS sfREET TIVERTON) LIMrrED (A COMPANY LIMITED BY GUARAKfEE) AIYNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Contents Page Reference and administration details Trustees report Independent examinerfs report Statement of financial activities Balance sheet Nofrs forming part of the financial statements 9-15
OLD HEATHCOAT SCHOOL COMMUNITY CEwfRE (KtNGS STREET TIVERTON) LIMITED REFERENCE AND ADMINisfRATION DETAILS Charity name Old Heathcoat School Comrnunity Centre (King Street Tiverton) Limtted Registered charity number 1063152 Company number 3325037 Principal address and registered office 81 King Street Tiverton Devon EXI6 5JJ Trustees J Stedman - Pa away November 2023 R Caudwell J Bell J Woodley R Dolley D Knowles J Cross - passed away July 2023 K Weber D Noble (appointed October 2023) C E£e (appointed October 2023) G Gazzard (appointed October 2023) Independent examiner Mrs M Hutchings Apsleys LLP Chartered Accountants 21 Bampton Street Tiverton Devon EX16 6AA Bankers Natwest I l Fore Street Tiverton Devon. EX16 6LW Secure Trust Bank One Arleston Way Solihull B90 4LH
OLD HEATHCOAT SCHOOL COMfvfUNrrY CENTRE (IUThGS sfREET TIVERTON) LIMITED TRUSTEES REPORT YEAR ENDED 31 MARCH 2024 The Trustees present their annual report and the fmancial statements of the tharity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of R¢commended Practice (SORP)"Accounting and Reporting by Charities" (FRS 102), the Charities Act 2011 and the Companies Act 2006 in preparing the annual repoit and financial statement5 of the charity. OBJEcfivES AND AcfIviTIES Summary ofthe objects of the Charity set out in its governing document The objects of the charty are to promote the benefit of local inhabilants of all ages. race, denominations and persuasion and to seek to enhance their quality of life in association with other organisations by the promoting of education and the provision of facilities in the interest of social welfare, recreation and leisure activities. Summary of the maln actlvltles ID relation to these objective5 A board of up to 15 trustees tskes the responsibility for the smooth running of the c¢ntr¢ in addition to its strategic role of developing the centre and its facilities in acconlance with the charities objectives. The day to day running of the centre is delegated to a team of dedicated staff who run it in accordance with its operational policy. D¢elAr#tlon The trustees have had regard to the Charity Commission guidance on public benefjt and believe this is achieved via the charity's objeGtives and activities. ACHIEVEMENTS AND PERFORMAJYCE Summary of the main achievements of the ebarlty during the year With the county v<ide ongoing financial crisis, we start¢d thi5 year with a Cautious approa¢h to spending. Our hard-working team remained the same for the majority of the year with Gail as the General Manager of the Centre. However, we did welcome three new Trustees to the Board. Sadly, we also lost two of our long-standing Trustees; Judith Cross {Tiverton Town Majorettes) and John Stedman. our previous Chair before myself. Maintenance The Trustees are aware that the buildings and grounds are in Deed of some attention and so while we only undertook one large projecL using saved funds to refurbish thc cellar: we also managed to get quite a few small jobs done too and have an ongoing priority list for 24r25. Café The café this year has been too busy for only one member of slaff but not quite busy enough to pay for two. That said. overall. the café continues to just about break even most of the time. When Charlotte left in January* Kerry became the Senior Cafe Assistant and Chelsea became the new&st member of our team as café assistant in February. These changes have meant that opening times are much more consistent. The caft continues to offer the ever- popular mid-week roast and the Winter Wamiers club on Friday afternoons.
OLD HEATHCOAT SCHOOL COMMUNITY CENTRE (KINGS STREET TIVERTON) LIMrrED TRUSTEES REPORT (cowfMyED) YEAR ENDED 31 MARCH 2024 Climbing Wall The Wall in the Hall has been a burden to keep in operation for one reason or another Since it opened in 2012. As in all previous years the climbing wall started out the year considerdbly in the red and although there were months where the wall perfonned better things did not really recover OV¢T the year. Management of the Wall has Ghanged hands 50 many times that we are finding harder and harder to justify continuing to keep it open in its current format. tn February the Board agreed to decide the future of The Wall in the Hall at the next Trustee Meeting in April 2024. Community Engagement In addition to our usual day-to-day activities, we have once again organised several community events this year including a Pride event, the Halloween Party, The Annual Free christm Dinner and Sunday Car Boot Sales. I would like to thank all of the people who volunteered their time and expertise to help with these events.
OLD HEATHCOAT SCHOOL COMMUNITY CENTRE (KtNGS sfREET TIVERTOIY) LIMITED TRUSTEES REPORT (coKfiNUED) YEAR ENDED 31 MARCH 21124 Looking forward In 2023-24 the Centre been busier than previous years and our incorne has increased, however the continued increases in n]nning costs mean that our long-tenn future is still not secure. We do not plan any large projects other than those for which we would secure funding and will keep a ¢lose watch on our income and expenses as the year progresses. Reserves In line with our reserves policy we currently have £40.000 rins fenced as our reserves. Brlefsummary ofthe eharity's poliey on reserves The Trustees consider it prudent to ensure that sufficient reserves exist to cover the basic running costs of the centre for a 6 montEL8 period. In prnctice this has been met or exceeded since the acquisition of the centre in September 1997. STRucfiTRE, GOVERNANCE AND MANAGEMENT Type of governlng document How the charlty Is eonstltuted Memorandum and Articles of Association Private company. limited by guarantee, no share capitsl Trustees selection method It is the policy of the Old Heath¢oat School Community Centre to eneoura8e and facilitate members of our comrnunity to provide assi51an¢e and supporL Th¢ us¢ of volunteers maximises community engagement and promotes partnership working between the OHSCC, other agenci and our communtty. Trustees are recruited in accordance with Charity Commi&8ion guidelines from volunteers, interested neighbours and local residents. Addition21 governance tssues The WorkiD8 Group comprised of Chaiman, Treasurer, Gail Stephens (Administrator) and JIEI WsXKlley (Vice Chair) meet weekly in the Centre and incorporates other Trustees into their discussions where possible. The Working Group also keep other Board members UP to date between meetings via email.
OLD HEATHCOAT SCHOOL COMMUNITY CENfRE (KINGS sfREET TIVERTON) LIMITED TRUSTEES REPORT YEAR ENDED 31 MARCH 2024 (CONTINUED) Trustees, ¢onslderntion of major risks And the system and procedure to mallage them The Trustees have reviewed all major risks which they consider might apply to the Centre with specific attention to adequate insurance cover, health and safety legislation, fire prevention and the safety of all categorie5 of Centre users. The Trustees are not aware of any risk or potential hazards which have not been addressed. Trustees responsibilities statement The Trustees (who are also directors of Old Hvdthcoat School Community Centre (King Street Tiverton) Limited for the purposes of company law) are responsible for preparing the Trustee's Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounttng Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently; observe the method5 and principlcs in the Charities SORP 2015 {FRS 102); make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures explained in the financial statements. prepare the financial statements on the going con¢¢rn basis unless it is inappropriate to presume that the will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financiaI statements comply with the Companies A 2006. They are also responsible for safeguarding the assets of th¢ charitable company and hence for taking reOnable steps for the prevention and detection of fraud and other irregularities. This report has been prepared taking advant8ge of the small company exemption of Section 415A of the Companies Act 2006. This report was approved by the Board on ......... and signed on their behalf by: Jwo Trust
INDEPENDENT ExA1ER's IiEPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENrs OF OLD HEATHCOAT SCHOOL CENTRE (KING SlliEET TIVERTON) LIMITED I report to the chaTity trustees on my examination of the accounts of the company for th¢ year ¢nd¢d 31 March 2024 which are set out on pa8e5 7 to 15. Responsibilities and basi5 of report A5 the charity 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 MYlf 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 company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carying out my examination I have followed the Directions given by the Charity Commission under section 145(5Xb) of the 2011 ACL Independ¢nt examlner's statement I have completed my examination. I confimi that no matters have come to my attention in conne¢tion wxth the examination giving me cause to believe that in any material respxL" accounting records were not kept in respect of the company as required by Section 386 of the 2006 Act, or the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts 8iv¢ a 'true and fair view. which is not a matter considered as part of an independent examination. or the accounts have not been pryared 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 8ccordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I hav¢ 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. Mrs M Hutchings Apsleys LLP Chartered AccouDtants 21 Bampton Street Tiverton Devon EX16 6AA Date:
OLD HEATHCOAT SCHOOL Co[[UNTry CENTRE (KINGS STREET TIVERTON) LIMITED srATEMEwf OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPEIYDITURE ACCOUNT YEAR ENDED 31 MARCH 2024 Notes Restricted funds Total funds Total fund5 2024 2023 Unrestric*d funds Income General Desi Donations and legacies 1.241 1,241 1251 Charitsble activities 4.969 143,594 148,563 138288 Investments 1.725 1,725 721 Other 1490 2.490 2,728 TotAI Incomt 4,969 149,050 154,019 142.988 Expendlture on Charitable activities 5,149 148.573 153,722 152,042 Total expenditure 5.149 148,573 153.722 152,042 Net Incomtl (expendlture) (180) 477 297 (9.054) Tr8n5f¢r behveen funds (20,000) 20.000 Net movement in funds (180 (19,523 20,000 9,054 Total funds at 31 March 2023 Total funds at 31 March 2024 463,314 463,134 75,790 56,267 40,000 60,000 579.104 579,401 588,158 579,104 The notes on pages 9 to 15 forni part of these financial statements
OLD HEATHCOAT SCHOOL COMMUNITY CENTRE (KINGS STREET TIVERTON) LIMrrED BALANCE SHEET 31 MARCH 21r24 2024 023 Flxed Assets Tangible assets 491233 492,422 Currenl assets Stock Debtors Cash at bank and in hand 1250 10,794 82,786 94,830 io 13,211 80,921 94,132 Creditors: amounts falling due wlthln one year 6.662 7,450 N¢t current gMet$ 88,168 86.682 Net assets 579.401 579,104 Funds of the charlty Restricted funds Unrestricted funds General funds Designated funds 14 14 463.134 463,314 56267 60,000 75,790 40,000 116,267 115,790 579,401 579,104 For the year ending 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to Stnail companies. Tntee5, responsibilities: The members have not required th¢ company to obtsin an audit of its accounts for the year in question in accordance with section 476; The trustees acknowledge their responsibilities for complying with the requirements of the act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies Subject to the small companies, regime. +109124 These financial statements were approved and authorised for issue by the trustees on....... and gned on their behalf b R CAUDWELL Trustee Company registration number 3325037 The notes on pages 9 to 15 fonn part of the financial ststements stee
OLD HEATHCOAT SCHOOL COMMUNrrY CENTRE (KKNGS sfREET TIVERTON) LIMED NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Summary of significant accounting policies {8) General informatlon and basis of preparation Old Heathcoat School Community Centre (King Street Tiverton) Limited is a private company limited by guardntee and does not have a share capital. The company is a registered charity in England within the United Kingdom. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £1 per member of the charity. The charity constitutes a public benefit entity &$ defined by FRS 102. The financial ststements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prdctice applicable to charities preparing their accounts in acconlance with the Financial Reporting Standard applicable in the UK and Republtc of Ireland (FRS 102) iued on 16 July 2014 (as updated through Update Bulletin I published on 2 February 2016), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concem basis undcr the historical cost convention, modified to include certain items at fair value. The financial statements are presented in slerling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the prepardtion of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise ststed. (b) Debtors and creditors receivable I payable wlthin one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any Ios5¢s arising from impainnent are recognis¢d in expenditure. (c) Cash Cash and cash equivalents are basic financial assets and include cash in hond, dq)osits held at call with banks, other short-term liquid investments with origin41 maturities of three months or le, and bank overdrafts. (d) Funds General funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of eath desi8nated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
io OLD HEATHCOAT SCHOOL COMMUNITY CENTRE IKINGS STREET TIVERTON) LImKD NOTES FORMtNG PART OF THE FINANCIAL ATEmENTs YEAR ENDED 31 bIRCH 2024 (e) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any perforniance conditions have been mel the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing, If there are conditions attached to the donation and this requires a level of perforniance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfIlment of those conditions is within the control of the charity and it is probable that they will be fulfilled. No amount ts included in the fLnancial statements for volunteer time in line with the SORP (FRS 102). Income from government and other grnnts are recognised at fair value when the charity has entitlement after any perforniance conditions have been meL it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. (Q Expendlture reeognltlo All expenditure is aOUnted for on an acen]als basis 2nd h&$ been classified under headings that aggregate all costs related to the cat¢80ry. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headin. Expenditure on charitable activities Irrecoverable VAT is charged as an expense a8ainst the aclivity for which expendxture arose. (g) Tangible fixed assets Tangible fixed assets are stated at cost (or de¢m¢d Cost) or valuatxon less accumulated depreciation and accumulated impainnent losses. Cost in¢lude5 ¢0sts directly attributable to making the asset capable of operating as intended. Deplation is provided on all tangible fixed assets. at rates calculated to write off the cosl less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Freehold land and buildings otTi¢e equipment Fixtures and fittings Other fixtures and fittings Other equipment 20Yo reducing balance 15% reducing balance 5 years strdight line 200/0 reducing balance (h) Tax The charity is an exempt charity within the m&qning of schedule 3 of the Charxties Act 2011 and is considered to pass the tests set out in Pardgrdph I Schedule 6 Finance Act 2010 and thcrefore it meets the definition of a charitable company for UK corporation tax purposes. ()1 Going concern Ai the lime of approvinE thc financial statements. the tnee5 have a reasonable expcclation that thc charity has adequate resources to continue in operdtional existence for ihc forcsccablc futurc. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial 5tatemcnts.
li OLD HEATHCOAT SCHOOL COMMUNTTY CENTRE (iaNGS STREET TIVERTON) LIMED NOTES FORMING PART OF THE FINANCIAL STATEMEY4TS YEAR ENDED 31 MARCH 2024 Donations and l¢gacies nrestricted funds Restricted funds Total funds Total fijnds 2024 2023 General Donations 1,241 1,241 1,251 Unrestricted fund5 Restricted fund Totsl funds Total funds 24 2023 Charilable activllies eneral Desi nated Fundraising events Rentsl incomel room hire Cafe income Grants receivable 486 105,918 37,190 486 105,918 37,190 4,969 148.563 105,665 32,623 4,969 4,969 143,594 138,288 nrestricted fun Restrict fund otal funds Total fun 2023 Investments Gene Deposit account interest 1,725 1,725 721 Restricted nds t l ndS Total fund 202 Oth¢r Desi Feed in tariff Other income Local Authority Grants 2,434 56 2,434 56 2,569 159 2,490 2.490 2,728
12 OLD HEATHCOAT SCHOOL COMMUNITY CENTRE (KtNGS sfREET TIVERTON) LIMrrED NOTES FORMING PART OF THE FIIYANCIAL ATEmENTs YEAR ENDED 31 MARCH 2024 Expenditure Notes Restricted General ated Total 2024 Total 2023 Charitable activities Wages and salaries Repairs and maintenance Light and heat Water and Business rates Cleanin& supplies and services Insurance Refreshments provxded for groups Events and proje Café exp¢DS¢S (adjusted for Stk) Trustees & volunteers expenses Telephone Printin& postage and stationery Climbing Wall Admin Advertisin Accountancy Legal and professional fees Bank account and card charge5 Subscription and licences Miscellaneous expenses Depreciation Bad debt written off 1.469 2.500 92,145 13,061 12.099 2,793 3,197 5,042 93,614 15.561 12.099 2,793 3,197 5,042 89,778 18.091 12,333 2,430 3,102 3,709 75 203 10.696 199 1,866 564 1,334 320 1,660 1,800 445 282 932 2,223 163 11,495 217 1,824 424 596 163 12,495 217 1,824 424 596 1,000 1.440 300 351 366 996 1.785 279 148.573 1,440 300 351 366 996 1,965 279 153,722 180 5,149 152,042 Employment cosls Gross wages and salaries Employer National insurance contributions Employment allowance Employer's Pension contributions 92,809 4,868 (4,868) 805 93,614 89,032 4,690 (4,690) 746 89,778 Number of employees 2024 2023 The average number of employees during the year No employee received emoluments of rn0 than £60,000 during the year.
13 OLD HEATHCOAT SCHOOL COMMUNITY CENTRE (KINGS sfREET TIVERTON) LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Tangible f¢d as$¢t Freehold Irice ui Fixtures and fittin Other ui Total Cost At 31 March 2023 Additions in year Sold At 31 March 2024 481,560 9,396 240 56,706 536 36.585 584,247 776 481,560 9,636 57242 36,585 585,023 Depreeiation At 31 March 2023 Charge for the year Eliminated on disposal At 31 March 2024 8,937 140 49,998 1,086 32,890 739 91,825 1,965 9.077 51,084 33,629 93,790 Net book value At 31 March 2024 At 31 March 2023 481,560 481.560 559 459 6.158 6.708 2,956 3,695 491,233 492,422 Stock 2024 Café stock 1,250 10. Debtors 2024 Trade debtors Prepayments 10,558 236 10.794 12,973 238 13,211 I l. Creditors: Amounls falling due within one year 2024 Trade creditors Taxation and social security Accruals Other creditors 821 560 5,152 129 6,662 916 906 5,416 212 7,450 12. Trustees, remuneration and expenses No trustees received any remunerdtion or expenses reimbursed during th¢ year
14 OLD HEAThCOAT SCHOOL COMMUNITY CENTRE (KINGS STREET TIVERTON) LIMrrED NOTES FORMING PART OF THE FINANCIAL STATKMENrs YEAR ENDED 31 MARCH 2024 13. Related party transactions Ther¢ re no transartions with relatcd partic5 during thc year. 14. Analysis of funds n¢0 2023 urce en Led March 2024 Restrieted funds Property repairs Freehold propety Other fixed assets New Freehold Building Project New boilers Grant- Normans Family Grant- Amory-Climbin8 Grant- Amory- Café Grant- Masons - Winter Wanners 127J46 485 334,838 645 127J46 402 334,838 548 83 97 1,469 2,500 500 500 5,149 1.469 2.500 500 500 4.969 463.314 463,134 Unrestricted funds General funds 75,790 20,000 149,050 148,573 56,267 Designated funds Repairs and malntenance Rllnnlng eost fund 40,000 40,000 20,000 20,000 60,000 60,000 579,104 154.019 153,722 579 401 Incomin ourc 2022 March 2023 Restricted funds Propety repairs Freehold property Other fixed assets New Freehold Building Project New boilers 127J46 586 334,838 759 463.529 127J46 485 334,838 645 463,314 ioi 114 215 Unrestrieted funds General funds 84.629 142,988 151,827 75,790 Designated funds Repairs and maintenance Running cost fund 40,000 40.000 40,000 40,000 588,158 142.988 152,042 579.104
15 OLD HEATHCOAT SCHOOL COMMTUNITY CENTRE (KtNGS SniEET TIVERTON) LIMTfED NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED 31 RCH 2024 14. Analysis offunds (continued) The restricted funds have been set aside out of unrestricted funds by the trustees for the ft?Ilowing specific purposes: Property repairs: this funding is for specific repairs (chosen by the trustees) required to the building, whereby grants are sought to cover the expenditure. Freehold property: is funding for the freehold propety 81 King StreeL Othcr fixed assets: is funding for the acquisition of other fixed assets. New Freehold Building project: is the funding for the acquisition of various new projects undertaken to the building. New boilers: is the funding for the purchase of boxlers. The trustees decided to ring-fence £60,000 from unrestricted general funds to Designated funds for the purpose of six months runnin8 costs as an emergency fund. Grant from Norman Family was received towards provision of half-price climbing instruetion to children aged 5 - 16 from low income families Grants from Amory Trust were provided towards running cost of the climbing w811 and the café Grant received from Masons was received towards Winter Wamiers Club for elderly and vulnerable towards food ost to enable to offer hot meals at rcduced prices. 15. Analysls of net assets between funds Restricted nds ota Lfj Total funds 24 Tan8ible fixed assets Current assets Current liabilities 463.134 28,099 34,830 (6,662 56,267 491.233 94,830 6,662 579,401 492,422 94,132 7,450) 579,104 60,000 463,134 60,000