Registered number: 03490904
**GL3 COMMUNITY HUB LTD DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
15 High Street Lydney Gloucestershire GL15 5DP
**GL3 Community Hub Ltd Directors' Report and Unaudited Financial Statements For The Year Ended 31 March 2022**
|**Contents**||
|---|---|
||**Page**|
|Company information|1|
|Directors’ report|2|
|Accountant’s report|3|
|Trustees’ report|4-5|
|Profit and loss account|6|
|Balance sheet|7|
|Notes to the financial statements|8-10|
|Trading profit and loss|11-12|
**GL3 Community Hub Ltd Company Information For The Year Ended 31 March 2022**
**Company Number** 03490904 **Registered Office** GL3 Community Hub Cheltenham Road East Churchdown Gloucester GL3 1HX **Accountants** Dean Accountancy Services Limited 15 High Street Lydney Gloucestershire GL15 5DP
Page 1
**GL3 Community Hub Ltd Company No. 03490904 Directors' Report For The Year Ended 31 March 2022**
The directors present their report and the financial statements for the year ended 31 March 2022 .
## **Statement of Directors' Responsibilities**
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Directors**
The directors who held office during the year were as follows:
Mrs Patricia Austin Mrs Tina Lewis Mr Christopher Auker-Howlett RESIGNED 14/04/2021 Mr Daniel Cox Ms Alexandra Lawson Mr Peter Antill Mrs Alex Holder Mr Syd Leuillette Mrs Elizabeth Lowe Ms Denise Clarke APPOINTED 11/11/2021
## **Small Company Rules**
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. By order of the board
Date
Page 2
**GL3 Community Hub Ltd Accountant's Report For The Year Ended 31 March 2022**
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 March 2022 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Date Dean Accountancy Services Limited 15 High Street Lydney Gloucestershire GL15 5DP
Page 3
**GL3 Community Hub Ltd Trustees’ Report For The Year Ended 31 March 2022**
## Report of the Trustees for the year ended 31[st] March 2022
The Trustees who are also the directors of the charity for the purposes of the Companies House 2006 present their report together with the financial statements of the charity for the year ended 31[st] March 2022. The Trustees have adopted the provisions of the 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 the Republic of Ireland (FRS 102 effective 1 January 2019).
## AIMS AND OBJECTIVES
The objectives of the Hub are set out in its Vision Statement “ to provide community based universal youth provision, together with health, social, recreational and educational services.”
## Hub’s Objectives:
To deliver local social activity based drop-in groups and clubs for children and young people, families and the wider community.
To deliver local social, educational and activity based facilities for children and young people, families and the wider community.
To deliver local social, educational and activity based facilities for children, young people and adults with learning difficulties.
To deliver local training and educational programmes for residents of all ages.
To deliver local volunteering opportunities reducing isolation and developing active citizenship.
## Public Benefit
The Hub was established to provide benefit to residents of Churchdown and surrounding areas. In planning its activities, the Trustees were mindful of the Charity Commission’s guidance on public benefit.
## ACTIVITIES AND ACHIEVEMENTS
## Achievements and Performance
The GL3 Community Hub has continued to include more support groups available in the community centre and are in regular contact with the Social Prescriber at the local doctor’s surgery, as a means to understand the needs of the local community. We began working with GEMS to provide a weekly job club.
Additional grant funding was received to support the various projects with the centre. This included:
Funding from STWA to convert our garage into a permanent home for the local foodbank ‘Hungry No More’. We also offer them the space and our utilities free of charge to keep their overheads down to a minimum.
Funding from National Lottery to support our young people with our youth club project. Which runs weekly during term time and the funding pays for qualified youth provision on the premises.
Funding was received from Gloucestershire County Council and Tewkesbury Borough Council to help support the charity through the covid crisis.
The charitable work that we are involved in includes:
- Community café
- Food bank
- Employment support
- Social housing
- Benefit support
- Youth Clubs
- Men’s mental health group
- Gamblers anonymous
- Social groups (Knit and natter, arts and crafts and carers support)
- IT support
- Mother and baby groups
- Veteran and senior citizen coffee afternoons
- Slimming world
- Exercise classes
Page 4
The charity is proving a vital source of help and support for those in need in our locality. We have seen significant increase in the numbers using the centre since the Covid crisis
## FINANCIAL REVIEW
## Investment Policy
Due to the low level of uncommitted funds the Hub’s Trustees consider that interest received on bank deposits provide a satisfactory return to the charity. There were no surplus funds available during the year.
## Reserves Policy
The Trustees have examined the level of reserves against the risks/activities and has prudently set aside reserves to cover any expected expenditure plus sufficient reserves to cover operational expenditure for 6 months.
## Pricing policy
Our pricing policy reflects our strategy of enabling all within our community, whatever their means, to be able to take part in activities. For example our room hire is available at two rates, either a community rate or a commercial rate.
## FUTURE PLANS
Significant housing development within the Hub’s catchment area has led Trustees to review the facilities provided to ensure it meets the demands in the future. Plans are currently being evaluated and costed.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
Governance is provided by a Board of Trustees who provide a range of skills. The Board meets bi-monthly with sub groups established for project work. The Board has nominated a Chair, a Vice Chair, a Secretary and a Treasurer.
The Hub is operationally run by a small team led by a full time Manager/Coordinator.
The Café is outsourced but the Hub Trustees have defined guidelines for its operation to ensure it is in line with the Hub’s ethos.
## Governing Document
The Hub is constituted as a company limited by guarantee and therefore has no share capital. In the event of the company being wound up and the liabilities being in excess of assets the liability of each member is limited to £1. The Hub’s governing document is its Memorandum and Articles of Association.
## Risk Management
The Board of Trustees receive a report at each meeting which highlights its risks regarding any Health and Safety issues. This is prepared by a Trustee nominated as Health and Safety champion. Other risks are discussed at Board meetings.
Page 5
**GL3 Community Hub Ltd Profit and Loss Account For The Year Ended 31 March 2022**
|**Notes**
**TURNOVER**
Cost of sales
**GROSS PROFIT**
Administrative expenses
Other operating income
**OPERATING PROFIT**
Other interest receivable and similar income
**PROFIT FOR THE FINANCIAL YEAR**|**2022**
**£**
**91,836**
-
**91,836**
(103,042 )
23,886
**12,680**
51
**12,731**|**2021**
**£**
**19,079**
100|
|---|---|---|
|||**19,179**
(85,202 )
84,914|
|||**18,891**
7|
|||**18,898**|
The notes on pages 6 to 8 form part of these financial statements.
Page 6
## **GL3 Community Hub Ltd Balance Sheet As at 31 March 2022**
|**Notes**
**FIXED ASSETS**
Tangible Assets
**3**
**CURRENT ASSETS**
Debtors
**4**
Investments
**5**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One Year**
**6**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**CAPITAL AND RESERVES**
Revaluation reserve
**7**
Other reserves
**7**
Fair Value Reserve
**7**
Profit and Loss Account
**SHAREHOLDERS' FUNDS**|**2022**
**£**
**£**
126,981
**126,981**
4,997
196,843
34,447
**236,287**
**(1,828 )**
**234,459**
**361,440**
**361,440**
81,274
87,973
45,707
146,486
**361,440**|**2022**
**£**
**£**
126,981
**126,981**
4,997
196,843
34,447
**236,287**
**(1,828 )**
**234,459**
**361,440**
**361,440**
81,274
87,973
45,707
146,486
**361,440**|**2021**
**£**
**£**
126,981
**126,981**
808
186,827
36,855
**224,490**
**(2,785 )**
**221,705**
**348,686**
**348,686**
81,274
87,950
45,707
133,755
**348,686**|**2021**
**£**
**£**
126,981
**126,981**
808
186,827
36,855
**224,490**
**(2,785 )**
**221,705**
**348,686**
**348,686**
81,274
87,950
45,707
133,755
**348,686**|
|---|---|---|---|---|
|||**126,981**
**234,459**||**126,981**
**221,705**|
||**236,287**
**(1,828 )**||**224,490**
**(2,785 )**||
||||
||
|||**361,440**||**348,686**|
|||**361,440**||**348,686**|
|||81,274
87,973
45,707
146,486||81,274
87,950
45,707
133,755|
|||**361,440**||**348,686**|
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors 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.
On behalf of the board
## Date
The notes on pages 6 to 8 form part of these financial statements.
Page 7
**GL3 Community Hub Ltd Notes to the Financial Statements For The Year Ended 31 March 2022**
## **1. Accounting Policies**
## **1.1. Basis of Preparation of Financial Statements**
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
## **1.2. Turnover**
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
## **Sale of goods**
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
## **Rendering of services**
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
## **1.3. Tangible Fixed Assets and Depreciation**
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
## **1.4. Investment Properties**
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
## **2. Average Number of Employees**
Average number of employees, including directors, during the year was as follows:
|Office and administration
**.** **Tangible Assets**
**Cost**
As at 1 April 2021
As at 31 March 2022
**Depreciation**
As at 1 April 2021
As at 31 March 2022
**Net Book Value**
As at 31 March 2022
As at 1 April 2021|**2022**
3
3|**2021**
3|
|---|---|---|
|||3|
|||**Investment**
**Properties**
**£**
171,000|
|||171,000|
|||44,019|
|||44,019|
|||126,981|
|||126,981|
## **3. Tangible Assets**
Page 8
**GL3 Community Hub Ltd Notes to the Financial Statements (continued) For The Year Ended 31 March 2022**
## **4. Debtors**
|**4.** **Debtors**|||
|---|---|---|
|**Due within one year**
Trade debtors
**5.** **Current Asset Investments**
Unlisted investments
**6.** **Creditors: Amounts Falling Due Within One Year**
Trade creditors
Other taxes and social security
Accruals and deferred income|**2022**
**£**
4,997
**4,997**
**2022**
**£**
196,843
196,843
**2022**
**£**
506
722
600
**1,828**|**2021**
**£**
808|
|||**808**|
|||**2021**
**£**
186,827|
|||186,827|
|||**2021**
**£**
1,778
454
553|
|||**2,785**|
Page 9
**GL3 Community Hub Ltd Notes to the Financial Statements (continued) For The Year Ended 31 March 2022**
## **7. Reserves**
|**.** **Reserves**|||
|---|---|---|
|As at 1 April 2021
As at 31 March 2022|**Revaluation**
**Reserve**
**£**
81,274|**Fair Value**
**Reserve**
**£**
45,707|
||81,274|
45,707|
## **Reserves Policy**
The Revaluation reserve was created to ensure the Hub’s investment property in the accounts reflected its current value.
The Fair Value Reserve is required to ensure financial assets are represented in the accounts.
## a) Restricted (earmarked) reserves
These are generally as a result of grants received from third parties and must be held for the purpose they were given. At the 31[st] March 2022 the Hub had earmarked reserves for youth services, covid recovery, the Man-Up programme and for café fittings. Such grants were received from Gloucestershire Council, the Lottery, Renishaw and the Glos Community Foundation.
## b) Unrestricted reserves
The Hub has established unrestricted reserves for roof repairs £96,000 and as a contingency £50,000 representing approximately 50% of its running costs.
## c) Investments held
- Salvia Close £105,626
- Savings CAF Account £85,013
- Cash Management £6,204
## d) Other reserves are consisting of
- Gloucestershire County Council – Man Up £824.77
- Renishaw – Youth Provision £500.00 National Lottery – Youth Provision £2308.21 Tewkesbury Council - Café Tables £1000.00 Glos Community Foundation - Café Tables £750.00 Total to carry forward 2022-23 £5382.98
## **8. General Information**
GL3 Community Hub Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03490904 . The registered office is Gl3 Community Hub, Cheltenham Road East Churchdown, Gloucester, GL3 1HX.
Page 10
**GL3 Community Hub Ltd Trading Profit and Loss Account For The Year Ended 31 March 2022**
|**TURNOVER**
Room hire
Cafe takings
Private functions
Other income
Grants and subsidies received
**COST OF SALES**
Storage expenses
**GROSS PROFIT**
**Administrative Expenses**
Wages and salaries
Employers pensions - defined contributions scheme
Staff training
Protective clothing
Light and heat
Water rates
Repairs and maintenance
Cleaning
Security costs
Premises insurance
Hire and leasing of computer and other equipment
Computer software, consumables and maintenance
Computer hardware
Printing, postage and stationery
Community group equipment
Youth club
Advertising and marketing costs
Catering community group/event
Telecommunications and data costs
Accountancy fees
Professional fees
Bank charges
Credit card charges
Bad debts written off
Sundry expenses
**Other Operating Income**
Rental and other income from property|**2022**
**£**
**£**
51,311
5,712
805
1,534
32,474
**91,836**
-
**-**
**91,836**
44,787
740
400
-
8,239
1,110
31,333
1,234
737
3,962
1,248
615
-
540
-
4,522
346
617
818
602
789
42
250
65
46
**(103,042 )**
10,000|**2022**
**£**
**£**
51,311
5,712
805
1,534
32,474
**91,836**
-
**-**
**91,836**
44,787
740
400
-
8,239
1,110
31,333
1,234
737
3,962
1,248
615
-
540
-
4,522
346
617
818
602
789
42
250
65
46
**(103,042 )**
10,000|**2021**
**£**
**£**
17,269
-
-
1,810
-
**19,079**
(100 )
**100**
**19,179**
42,222
672
-
1,126
6,933
1,343
7,868
1,278
3,946
4,141
684
1,629
6,144
155
336
858
517
3,067
687
510
824
-
176
40
46
**(85,202 )**
10,000
...CONTINUED|
|---|---|---|---|
|||**91,836**
**-**||
||44,787
740
400
-
8,239
1,110
31,333
1,234
737
3,962
1,248
615
-
540
-
4,522
346
617
818
602
789
42
250
65
46||
42,222
672
-
1,126
6,933
1,343
7,868
1,278
3,946
4,141
684
1,629
6,144
155
336
858
517
3,067
687
510
824
-
176
40
46|
|||**91,836**
**(103,042 )**
||
||10,000||10,000|
Page 11
## **GL3 Community Hub Ltd Trading Profit and Loss Account (continued) For The Year Ended 31 March 2022**
|Solar panel income
Job retention scheme income
Other coronavirus grant income
**OPERATING PROFIT**
**Other interest receivable and similar income**
Bank interest receivable
**PROFIT FOR THE FINANCIAL YEAR**|1,550
365
11,971|
**23,886**|1,563
14,083
59,268|
**84,914**|
|---|---|---|---|---|
||51||
7||
|||**12,680**
**51**||**18,891**
**7**|
||||
||
|||**12,731**||**18,898**|
Page 12