Charity registration number: 1067925
The Stevenson Centre
Annual Report and Financial Statements for the Year Ended 31 March 2023
Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors 3 Warners Mill Silks Way Braintree Essex CM7 3GB
The Stevenson Centre
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustee's Report | 2 to 3 |
| Statement of Trustee's Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 16 |
The Stevenson Centre
Reference and Administrative Details
Trustee Great Cornard Parish Council Senior Management / Leadership Mr T. J Keane, Trustee Chairman Team Cllr. A. C. Bavington, Policy & Resources Chair Mrs N. Tamlyn, Council Manager Cllr. D Young, Trustee Vice Chair Charity Registration Number 1067925 Principal Office The Stevenson Centre Stevenson Approach Great Cornard Sudbury Suffolk CO10 0WD Independent Examiner Nicholas Forsyth FCA Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors 3 Warners Mill Silks Way Braintree Essex CM7 3GB Bankers Barclays Bank PLC Chelmsford 40-41 High Street Chelmsford Essex CM1 1BE
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The Stevenson Centre
Trustee's Report
The member presents the annual report together with the financial statements of the charity for the year ended 31 March 2023.
Objectives and activities
Objects and aims
The Charity runs a community centre for the benefit of inhabitants of Great Cornard and the neighbouring area without distinction of sex or of political, religious or other opinions by the advancement of education and the provision of facilities in the interests of social welfare for recreation and leisure.
Objectives, strategies and activities
The Charity has continued to hire the community centre to inhabitants of Great Cornard and the neighbouring area and aims to continue to support local community groups.
Public benefit
The Charity aims to benefit the inhabitants of Great Cornard and the neighbouring area with the object of improving the conditions of life for the said inhabitants.
The Trustee confirms 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 Commission for England and Wales.
Grant making policies
By allocating a yearly budget for grants, the Charity financially supports some of the local groups who use the Community Centre.
Financial review
Policy on reserves
The current level of available reserves amounts to £29,643 (2022: £29,465). The senior management team believe that reserves amounting to at least £15,000 are required to ensure that the Charity has sufficient funding to enable it to continue to operate should income levels diminish in subsequent periods.
Principal funding sources
The Charity obtains income from the letting of the Community Centre and, if required, also benefits from donations provided by Great Cornard Parish Council.
Going concern
As sole Managing Trustee of The Stevenson Centre Charity, the Parish Council has continued to adopt a cautious approach to the Centre finances due to the cost of inflation and the rising cost of goods, services and energy.
Structure, governance and management
Nature of governing document
The Charity is governed by the lease and trust deed dated 24th June 1968 as varied by scheme of the Charity Commissioners of 15th November 1993.
The Charity was registered with the Charity Commission on 3rd February 1998.
Appointment of Trustees
Great Cornard Parish Council as a corporate body is the sole Managing Trustee. Individual Parish Councillors are not themselves Charity Trustees.
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The Stevenson Centre
Trustee's Report (continued)
Induction and training of trustees
Any new Members of the Parish Council or the senior management team will receive the appropriate level of training to obtain an understanding of the Charity's objects and aims and will be provided with a copy of the Charity's governing document.
Organisational structure
The Senior Management Team, representing the Parish Council (the sole Managing Trustee), hold separate meetings on a regular basis to discuss the activities and performance of the Charity and the achievement of its charitable objects.
Relationships with related parties
Great Cornard Parish Council
Great Cornard Parish Council is the sole trustee of the Charity and the Councillors are responsible for the running of the Charity.
Major risks and management of those risks
Risks faced by the charity
The Council officers responsible for the performance of the Charity meet on a regular basis and will discuss the risks faced and consider how these risks may be best mitigated.
The main risk faced by the Charity is that its income level will not be sufficient to ensure that it can continue as a going concern.
The Senior Management Team acknowledges that good publicity and marketing of The Stevenson Centre is key to promoting the Centre’s facilities. The Stevenson Centre is advertised and promoted locally and advises local residents that they can benefit from advantageous rates. The Parish Council, as sole Trustee of The Stevenson Centre Charity, works closely with its users to ensure their needs are met and that they are happy with the facilities provided.
The Trustees regularly review the Centre’s hire charges to tailor income to expenditure and to ensure that charges for all users are kept reasonable and affordable and comparable to local competitors.
If the Charity, for a temporary period of time, is unable to meet its expenditure it has the option to apply to the Parish Council for support.
The Stevenson Centre Charity has appropriate insurance in place to cover the loss of revenue up to £40,000.
The annual report was approved by the member of the charity on 13 November 2023 and signed on its behalf by:
.........................................
Mr T J Keane, Trustee Chairman, for and on behalf of Great Cornard Parish Council Trustee
Page 3
The Stevenson Centre
Statement of Trustee's Responsibilities
The trustee is responsible for preparing the trustee's report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the member is required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The member is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The member is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustee is responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the member of the charity on 13 November 2023 and signed on its behalf by:
......................................... Mr T J Keane, Trustee Chairman, for and on behalf of Great Cornard Parish Council Trustee
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The Stevenson Centre
Independent Examiner's Report to the trustee of The Stevenson Centre
I report to the trustee on my examination of the accounts of The Stevenson Centre for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustee of The Stevenson Centre you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the The Stevenson Centre's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of The Stevenson Centre as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Nicholas Forsyth FCA Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors
3 Warners Mill Silks Way Braintree Essex CM7 3GB
30 November 2023
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The Stevenson Centre
Statement of Financial Activities for the Year Ended 31 March 2023
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net (expenditure)/income Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted £ 20,302 48,841 5,314 74,457 (82,832) (82,832) (8,375) 890 (7,485) 45,307 37,822 |
Restricted £ 890 - - 890 - - 890 (890) - - - |
Total 2023 £ 21,192 48,841 5,314 75,347 (82,832) (82,832) (7,485) - (7,485) 45,307 37,822 |
Total 2022 £ 26,995 50,245 - |
|---|---|---|---|---|
| 77,240 | ||||
| (57,459) | ||||
| (57,459) | ||||
| 19,781 - |
||||
| 19,781 25,526 |
||||
| 45,307 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 16.
The notes on pages 8 to 16 form an integral part of these financial statements. Page 6
The Stevenson Centre
(Registration number: 1067925) Balance Sheet as at 31 March 2023
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand 13 Creditors: Amounts falling due within one year 14 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 16 |
2023 £ 6,130 3,602 37,084 40,686 (8,994) 31,692 37,822 37,822 37,822 |
2022 £ 5,474 4,016 39,247 |
|---|---|---|
| 43,263 (3,430) |
||
| 39,833 | ||
| 45,307 | ||
| 45,307 | ||
| 45,307 |
The financial statements on pages 6 to 16 were approved by the Trustees.
The Trustees have authorised these for issue on 13 November 2023 and signed on behalf by:
..................................................
The T J Keane, Trustee Chairman, for and on behalf of Great Cornard Parish Council Trustee
The notes on pages 8 to 16 form an integral part of these financial statements. Page 7
The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2023
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Stevenson Centre meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The Senior Management Team of the Trustee considers that there are no material uncertainties about the Charity's ability to continue as a going concern. The charity will receive continued support from the Great Cornard Parish Council to ensure that it is able to continue to trade as a going concern.
Judgements
Apart from those judgements involving estimations, the management has not made any judgements in the process of applying the entity’s accounting policies that have significant effect on the amounts recognised in the accounts.
Key sources of estimation uncertainty
There are no key assumptions concerning the future or other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
Income and endowments
Voluntary income including donations that provide core funding or are of a general nature, is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Donated services and facilities
Donated goods and services include time from employees of Great Cornard Parish Council alongside phone and photocopier costs.
Charitable activities
Income from charitable activities relates to the hire of the Community Centre in order for the Charity to meet its charitable objects. Income from this source is recognised when there is entitlement to the income, the amount is measurable and receipt is probable.
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The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
Other income
Other income received in the year relates to insurance claims being paid to the Charity. This income is recognised when it was received in the bank.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is potentially exempt from taxation in respect of income or capital gains received to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Furniture and equipment 20% Straight line method Office equipment 33% Straight line method Other tangible assets 20% Straight line method
Trade debtors
Trade debtors are amounts due from customers for hall rental services in the ordinary course of business.
Trade debtors are recognised initially at the transaction price.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
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The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee discretion in furtherance of the objectives of the charity.
2 Income from donations and legacies
| Grants, including capital grants; Government grants Babergh Council COVID grants Donations 3 Income from charitable activities Hire of community centre 4 Other income Other income |
Unrestricted funds General £ - - 20,302 20,302 Unrestricted funds General £ 48,841 Unrestricted funds General £ 5,314 |
Restricted funds £ 890 - - 890 Restricted funds £ - Restricted funds £ - |
Total 2023 £ 890 - 20,302 21,192 Total 2023 £ 48,841 Total 2023 £ 5,314 |
Total 2022 £ - 8,000 18,995 |
|---|---|---|---|---|
| 26,995 | ||||
| Total 2022 £ 50,245 |
||||
| Total 2022 £ - |
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The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
5 Expenditure on charitable activities
| Note Rates Light, heat and power Insurance Telephone and fax Printing, postage and stationery Trade subscriptions Sundry expenses Cleaning Advertising Computer consumables and maintenance costs Costs of donated time Depreciation, amortisation and other similar costs Staff costs 8 Governance costs 6 Repairs and maintenance |
Unrestricted General £ 189 13,906 1,340 246 502 882 382 1,472 708 372 19,672 2,284 25,500 1,170 14,207 82,832 |
Total 2023 £ 189 13,906 1,340 246 502 882 382 1,472 708 372 19,672 2,284 25,500 1,170 14,207 82,832 |
Total 2022 £ 162 3,182 1,237 297 442 993 45 820 708 331 18,144 1,837 21,592 1,671 5,998 |
|---|---|---|---|
| 57,459 |
6 Analysis of governance and support costs
Governance costs
| Accountancy fees Other fees paid to accountants Independent examiner fees Examination of the financial statements |
Unrestricted General £ 195 975 1,170 |
Total 2023 £ 195 975 1,170 |
Total 2022 £ 189 1,482 |
|---|---|---|---|
| 1,671 |
7 Trustee remuneration and expenses
No trustee, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
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The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
8 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||
|---|---|---|
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2023 £ 23,163 233 2,104 25,500 |
2022 £ 19,534 43 2,015 |
| 21,592 |
The monthly average number of persons employed by the charity during the year expressed as full time equivalents was as follows:
| Average employees No employee received emoluments of more than £60,000 during the year 9 Independent examiner's remuneration Examination of the financial statements |
2023 No 3 2023 £ 975 |
2022 No 3 |
|---|---|---|
| 2022 £ 1,482 |
10 Taxation
The charity is a registered charity and is therefore potentially exempt from taxation.
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The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
11 Tangible fixed assets
| Cost At 1 April 2022 Additions At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 12 Debtors Trade debtors Prepayments 13 Cash and cash equivalents Cash at bank |
Furniture and equipment £ 6,557 2,940 9,497 2,727 1,723 4,450 5,047 3,830 |
Office equipment £ 596 - |
Other tangible fixed asset £ 1,804 - 1,804 361 361 722 1,082 1,443 2023 £ 2,508 1,094 3,602 2023 £ 37,084 |
Other tangible fixed asset £ 1,804 - 1,804 361 361 722 1,082 1,443 2023 £ 2,508 1,094 3,602 2023 £ 37,084 |
Total £ 8,957 2,940 11,897 3,483 2,284 5,767 6,130 5,474 2022 £ 3,523 493 |
|
|---|---|---|---|---|---|---|
| 596 | 1,804 | |||||
| 395 200 |
361 361 |
|||||
| 595 | 722 | |||||
| 1 | 1,082 | |||||
| 201 | 1,443 | |||||
| 2023 £ 2,508 1,094 3,602 2023 £ 37,084 |
||||||
| 4,016 | ||||||
| 2022 £ 39,247 |
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The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
14 Creditors: amounts falling due within one year
| 14 Creditors: amounts falling due within one year | ||
|---|---|---|
| Trade creditors Other creditors Accruals |
2023 £ - 3 8,991 8,994 |
2022 £ 425 234 2,771 |
| 3,430 |
15 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £2,104 (2022 - £2,015).
16 Funds
| Unrestricted funds General Unrestricted General Funds Designated Fixtures and fittings Total unrestricted funds Restricted funds TV Monitor Total funds Unrestricted funds General Unrestricted General Funds Designated Fixtures and fittings Total funds |
Balance at 1 April 2022 £ 35,261 10,046 45,307 - 45,307 Balance at 1 April 2021 £ 23,279 2,247 25,526 |
Incoming resources £ 74,457 - 74,457 890 75,347 Incoming resources £ 77,240 - 77,240 |
Resources expended £ (76,885) (5,947) (82,832) - (82,832) Resources expended £ (57,459) - (57,459) |
Transfers £ 2,940 (2,050) 890 (890) - Transfers £ (7,799) 7,799 - |
Balance at 31 March 2023 £ 35,773 2,049 |
|---|---|---|---|---|---|
| 37,822 - |
|||||
| 37,822 | |||||
| Balance at 31 March 2022 £ 35,261 10,046 |
|||||
| 45,307 |
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The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
The specific purposes for which the funds are to be applied are as follows:
The unrestricted funds relate to general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.
The restricted fund relates to £890 that was received in the year from Babergh & Mid Suffolk District Council in order to purchase a new TV monitor. This was spent in the year.
The Stevenson Centre designated monies in previous years to improve the Hall's facilities and equipment. A fixed asset costing £2,050 was purchased in the year, along with repairs amounting to £5,947.
17 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 6,130 40,686 (8,994) 37,822 Unrestricted funds General £ 5,474 43,263 (3,430) 45,307 |
Total funds at 31 March 2023 £ 6,130 40,686 (8,994) |
|---|---|---|
| 37,822 | ||
| Total funds at 31 March 2022 £ 5,474 43,263 (3,430) |
||
| 45,307 |
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The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
18 Related party transactions
During the year the charity made the following related party transactions:
During the period, donations amounting to £20,302 (2022: £18,995) were provided to the charity from Great Cornard Parish Council, the sole managing trustee. These were provided with no conditions attached.
At the balance sheet date the amount due to/from was £Nil (2022 - £Nil).
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