Charity registration number: 1067925 The Stevenson Centre Annual Report and Financial Statements for the Year Ended J l March ?024 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 Trustee's Report 2to3 Statement of Trustee's Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Stateinents 8t015
The Stevenson Centre Reference and Administrative Details Trustee Great Cornard Parish Council Senior Management / Leadership Mr T. J Keane, Trustee Chairnian Team Cllr. A. C. Bavintrton. Policy & Resources Chair Cllr. D Youno, Tstee Vice Chair Miss E Skuce. Council Manaoer Charity Reuistration Number 1067925 Princip21 Office The Stevenson Centre Stevenson Approach Great Cornard Sudbury Suffolk COIO OWD Independent Examiner Nicholas Forsyth FCA Lambert Chapman LLP Chartered Accowitants and Reoistered Ststutory Auditors J Warners Mill Silks Way Braintree Essex CM7 JGB Bankers Barclays Bank PLC Chelmsford 40-41 High Street Chelmsford Essex CMI IBE
The Stevenson Centre Trustee's Report The membei. presents the anniial repoit togetlier with the financial statements of the charity foi. the yeaj. ended 31 March 2024. Objectives And Activities Objects and aim The Charity runs a cominunity centre for the benefit of inhabitants of Great Coi'nard and the e[bOUr18 area without distinctioii of sex or of political, religious or otlier opinions by the advanceinent of education and tlie provision of facilities in the interests of social welfare for recreation and leisure. Objectiv2g, stralegies activilies The Charity has continued to liire the cominunity centre to inhabitants of Gi'eat Cornard and the neighbouriiig area and aims to continue to support loeal community groups. Public benefil The Cliai'ity aims to benefit tlie inhabitsnts of Great Cornard aiid tlie neighbouring area with the object of improving the conditions of life for the said inliabitants. The Trustee confErms tliat tliey liave complied with tlie requirements of section 17 of tlie Cliarities Act 2011 to have due regard to the public benefit 2uidance published by the Ch'Ity Commission foi. Eiigland and Wales. GraAÉ makingpolicies By allocating a yearly budget for grants, the Charity financially supports soine of tlie local groups who use tl)e Community Centi'e. Fiiiancial review Policy on reserves The CULTent level of available resei'ves amounts to £30,617 (2023.. £29,465). Tlie senioi. rnanageiiient teani believe tliat i'eserves atnounting to at least £15,000 are I'equii'ed to ensui'e that the Charity has suffiGient funding to enable it to continiie to opei'ate should incoine levels diininish in siibsequent periods. Principalfunding sources Tlie Ch21-ity obtains incoine froin the letting of the Cominlinity Centi'e and, if reqiiired, also benefits from donations provided by Gi'eat Cot'nard Parish Council. Going eoneern As sole Managing Trustee of Tlie Stevenson Centre Chw'ity, the Parish Council has continued to adopt a cautious approacli to the Centre finaiices due to tlie c05t of inflation and the rising cost of goods. services and energy. Structure) governance and mallAgement Nature ofgoverning document The Charity is goveined by the lease and ti'ust deed dated 24th June 1968 as vai'led by scheme of the Charity Conimissioiiers of15th November 1993. The ch-Ity was i'egistered with the Cliarity Commission OD 31'd February 1998. AJ)poiHÉnienl of Truslee Gi'eat Comard Parisli Coiincil as a corporate body is tlie sole Managing Trustee. Iiidividual Parisli Councillors are not themselves Chai'ity Ti'ustees. Page 2
The Stevenson Centre Trustee's Report (Continued) Jnduction ond training ofnew Parisk Couneil Members Any new Members of the Parish Council or the senior manaoement team will receive the appropriate level of trainin<F to obtain an underst2ndin<y of the Cliarity's objects and aims and will be provided with a copy of the Charity's tsovernin(y document. Oroanisalional slruclure The Senior Manaoement Team, representing the Parish Council (die sole Manaoincr Trustee), hold separdte meetinos on a regular basis to discuss the activities and perfonnance of the Charity and the acliievement of its charitable objects. Relationships with rel2ted parties Great Cornard Parish Council Great Comard Parish Council is the sole trustee of the Charity and the Councillors are responsible for the runnino of the Charity- Major risks and nwnagement oftliose risks Risksfaced by ihe charily The Council officers responsible foi. the performance of the Charity meet on a regular basis and will discuss the i'isks faced and consider how these risks may be best mitioated. The main risk faced by the Charity 15 that its inwme level will not be sufficient to ensure that it can continue as a goints concern. The Senior Manaemellt Team acknowledtres that oood publicity and marketino of The Stevenson Centre is key ro promotinu the Centre's facilities. The Stevenson Centre is advertised and promoted locally and advises local residents that they can benefit from advantaoeolls rates. The Parish Council, as sole Trustee of The Stevenson Centre Ch8sity, works Closely with its users to ensure their needs are met and that they are happy with the facilities provided. The Trustees regularly r¢view the Centre's hire charges to tailor inwme to expenditure and to ensure that charues 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 eharity on ............. signed on its behalf by.. Mr T J Keane, Trustee Chairman, for and on behalf of Great Cornard Parish Council Tstee
The Stevenson Centre Statement of Trustee's Responsibilities The ts'ustee is responsible for prep.1g the trustee's report and the financial stateinents in accoi'dance witli the United Kingdoin Accounting Standards (United Kingdoin Generally Accepted Accountiiig Practice) and applicable law and regulations. The law applicable to cliarities requii'es tl)e tsustee to pi-epai'e financial stateiiients for each financial yeai. wl)ich give & true at)d fair view of tlie state of affairs of the cliarity and of the iiicoming I'esources and application of resoui'ces of the chai'ity for that pei'iod. In preparing these financial stateinents, the menibei. is reqiiired to.. select suitable accounting policies and then apply theni consistently. obseive the methods and principles in the Charities SORP. make judgeinents and estimates that are reasonable ]d prudent. state whetlier ai)plicable accouiiting standards l)ave been followed, subject to aiiy inaterial departure5 disclosed and explained in tlie financial slateinents. aiid prepare tlie financial statements on the going concern basis unless it is inappropriate to presuine that the charity will continue in business. Tl)e inembei. is responsible foi. keeping propel. accounting recoi-ds that disclose with reasonable accui?cy at any tinie ihe financial position of the chai'ity and enable thein to ensiire that tl)e financial stateinents coniply with the Charities Act 201 I, the Charities (Accounts and Reports) Regulations 2008, and the provisions of tlie constitution. The inembei. is also responsible foi. safeguarding the assets of the cliai'ity and hence for taking i'easonable steps for the prevention and detection of fraud and other ii'regularities. The ti'ustee is responsible for the maiiitenance and iiitegi'ity of the eorpoi'ate and financial information incliided o the cliai'itable company's website. Legislation govet'ning the pi'eparation and disseniination of financial statements may diffei. froiii legislation in otlier jiii'isdictions. Approved by tlie n)eiiiber of tlie cliarity on and signed on its belialf by.. Mi. T J l<eane, Ti'uslee Cliaii'man, foi. and on behalf of Great Coi-nard Pai-isli Council Ti'ustee Page 4
The Stevenson Centre Independent Examiner's Report to the trustee of The Stevenson Centre I report to the trustee on my examtnation of the accounts of The Stevenson Centre for the year ended ) l March 20?4. Responsibilities and basis of report As the charity tnjstee of The Stevenson Centre you are responsible for the preparation of the accounts in a¢¢ordance with the requirements of the Charities Act 2011 ('Ihe Act,). I repon in respect of my examination of the The Stevenson Centre's accounts carried out under section 145 of the 201 l 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 st2tement I have eompleted my examination. I confim] that no material matters have come to my attention in connection with the examination tsivino me cause to believe that in any material respect: l. a¢¢ouutin<r rewrds were not kept in respect of The Stevenson Centre as required by section IJO of the Aet- or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the aceountints requirements concernino the fomi and content of accounts set out in the Charities (Accounts and Reports) Reoulations 2008 other than any requirement that the accounts tsive 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 oonnection with the examination to which attention should be drawn in this report in order to enable a proper UnderStadIng of the accounts to be reached. Nicholas Forsyth FCA Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors ) Warners Mill Silks Way Braintree Essex CM7 )GB
The Stevenson Centre Statement of Financial Activities for the Year Ended 31 March 2024 TotAI 2024 Total 2023 Unrestricted Note Ineome aiid Endowments from: Donations and legacies Cliaritable activities Other income 22,417 60.921 22,417 60,921 21,192 48.841 5.314 Total income 83.338 75,347 Expenditure on: Charitable activities {84.091 (84,091) (82,832) Total expenditure {84,091) 84,091 (82,832) Net movement in funds {753) (753) (7,485) Reconciliation of funds Total fuiids brought forward Total funds cai-ried foi'ward 37,822 37,822 45,307 16 37,069 37,069 37,822 All of the charity's activities derive froin ¢ontinuing opeiations dui-ing the above two periods. The funds breakdown foi. 2023 is shown in note 16. Tlie ijotes on pages 8 to 15 fonii an iiitegral part of tliese financial stateinents. Page 6
The Stevenson Centre (Reistration number: 1067925) BaIance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tanoible assets 6.452 6,130 Current assets Debtors Casli at bank and in hand 12 3,60? 40,686 Creditors: Amounts falltno due within one year 14 (5.064) (8,994) Net current Assets 30.617 Net assets 37,069 Funds of the charity: Unrestricted income funds Unrestricted fijnds Totsl funds 16 37,069 The financial statements on paoes 6 to 15 were approved by the Ttuste¢s. The Trustee has authorised these for issue on .... ..-... . and siuned on behalf by: Mr T J Keane. Trustee Chairman. for and on behalf of Great Cornard Parish Council Twstee The notes on pages 8 to 15 forni an inteqral part of these financial statements.
The Stevenson Centre Notes to the Financial Statements for the Year Ended 31 March 2024 l Aeeounting policies Statement of compliAnce The financial stateineiits have beeii pi-epared in accordance with Accounting and Reporting by Charities.. Statement of Recominended Practice applicable to charities prepai'ing their accounts in accordance with the Financial Reporting Standard applicable in the UK aiid Republic of Ireland (FRS 102) (effective l Januaiy 2019) - (Cl)ariLies SORP {FRS 102)), tlie Financial Reporting Staiidard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation Tlie Stevenson Centi'e meets the definition of a public benefit entity under FRS 102. Tlie a¢¢ounts (financial staleinents) have been pi'epared iiiider the historical cost convention witl) items recognised at cost or ts?nsactioii value unless otherwise slated in the relevant iiote(s) to these accouiils. Going eoncern Tlie Senioi. Manageinent Team of tile Ti'ustee coiisiders that tliei'e tre no material uncertainties about the Charity's ability to continiie as a going eoncei'rL. The cl)arity will i-eceive continued support froin the Gi-eat Cornai'd Parish Council to ensui'e that it is able to continue to U'ade as a going concern. Judgenients Apart froni those judgements iiivolving estin)ations, the inaiiageinent has not niade any judgeiiients in the piDcess of applying the entity's accounting policies tliat have sioiiificaiit effect on tl)e amounts recognised in the accounts. Key sources of estiination uncertainty Tliei'e are no key assui)Iptions concerning the future or otlier key sources of eslimatiotj uncertainty at the I'eporliiig dale that liave a significant risk of causing a material adjustinent to tlie cai'rying amounts of assets aiid liabilities within the next repoiting period. Income 8nd endowmeilts Voluntary income incliiding donations tliat provide col'e fiinding oi. are of a genei'al natui'e, is i-ecognised when tiie chai'ity has entitleinent to the income, it is pi'obable that the iiicoine will be I'eceived and the an]ount ¢an be measLlI'ed with siifficient i'eliability. Gi'anls receivuble Grants are i-ecognised when the charity has an entitlement to the fiinds and any conditions linked to the gi'ants have been met. Whei'e performance conditioiis are attaclied to the grant and al'e yet to be Inet, th¢ in¢oille is recognised as a liability and included on the balance shcet as deferred income to be released. Donnteilservices andfucililies Donated goods and sei-vices include time from employees of Great Cornard Pai'ish Council alongside phone and photocopier costs. Churitable aclivilies Inconie fi'om charitable activities i'elates to the hire of the Cotnmui)ity Centre in order for tl)e Cliai'ity to n3eet its ¢haritable objects. Income from this soui'ce is recogiiised when thei'e is entitleinent to the iiicome. tlie Ainoiint is iiieasu17ble and receipt is probable. Page 8
The Stevenson Centre Notes to the Financial Ststements for the Year Ended 31]Ilarch 2024 (continued) Other income Oth¢r income received in the year relates to insurance claims bein¢ ¥ paid to the Charity. This income is reco(Tnised when it was Teceived in the bank. ETpenditure All expenditure is recotrnised once there is a le(Yal or constructive obligation to that expenditure, it is probable settlement is required and the aoUnt can be measured reliably. All costs are allocated to the applicable expenditure heading that eoate similar eosts to that catetsory. Charitable activilies 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 chartty's compliance with constitutional and statutory itquirements. Government rants Government grants are recounised based on the accrual model and are measured at the fair vatue of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grdnts relating to revenue are r¢coonised in income over the period in which the related costs are recoonised. Grants relating to assets are r¢coiFnised over the expected useful life of the asset. Where part of a ordnt relatintr to an asset is deferred, it is recoonised as deferred income. Taxation The charity is potentially exempt from tatIOn in respect of income or capital gains received to the extent that such income or oains are applied exclusively to charitable purposes. Tanqible fixed assets Individual fixed assets are initially recorded at cosi less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation 2nd amortisation Depreciation is provided on tanoible fExed assets 50 as to write off the Cost or valuation, less any estimated residua] value, over their expected useful economic life as follows- Asset c12SS Furniture and equipment Office equipment Other tantrible assets Depreciation method and r2te 20 % Strat<yht line method JJ /0 Straight line method 200/0 Straioht 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 e&sh equivalents comprise c&sh on hand and call deposits.
The Stevenson Centre Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Fund structure Uni'esti'icted income fLinds are general fiinds that are available for iise at the ts'ustee disci'etion in fiirthei'ance of the objectives of the cliarity. 2 Income from donAtions 2nd legaeies Unrestiicted funds GenerAI Resti'ieted fuiids Total 2024 Total 2023 Gi'ants, includiiig capital gt2nts' Governinent grants Donations 890 20,302 22,417 22.417 22,417 22,417 21,192 3 Income from charitable Aetivities Unresti'ieted funds Geiieral Resti'icted funds Totsl 2024 Total 2023 Hire of coiiimiinity centre 60.921 60,921 48,841 4 Other inttsme Unrestricted funds General Resti'icted funds Total 2024 Total 2023 Other income 5,314 Page 10
The Stevenson Centre Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 5 Expenditure on ch2rit2ble activities Unrestricted Totsl 2024 Tot21 2023 GetLer21 Restrieted Note Rates LiJtr E heat and power Insu12nce 3,506 14,601 2,146 313 3,506 14,601 2,146 l89 1,340 246 Telephone and fax Printincr, poststse and stationery Trade subscriptions Sundry expenses Cleanino Advertising Computer consumables and maintenance costs Costs of donated time Depreciation, amortisation and other similar costs Staff costs Governance costs Repairs and mainten2n¢e 476 968 46 1,899 476 968 46 1,899 502 882 j8? 1,479 708 527 527 21,738 372 19,672 2,495 ?7,975 1,548 2,495 27,975 1,548 5,853 2.284 25.500 1,170 14.207 84,091 84.091 6 Analysis of tsovernaDce 2nd support Costs GoverD2nce costs Unrestricted Totgl 2024 Total 2023 Gener21 Accountaney fees Other fees patd to accountants Independent examiner fees Ex2mination of the financial statements 144 144 195 1.404 1,404 975 1.548 1,548 1.170 Pagell
The Stevenson Centre Notes to the Financial Statements for the Yeai" Ended 31 March 2024 (continued) 7 Trustee i'emunei*tion xnd expens&s No trustee, noi. any persons connected with them, have received any remuneratioii from the charity dui'ing Éhe year. No trustees have received ]Y reimbursed expenses or any odier benefits froin the charity during die year. 8 Staff costs The aggregate payroll costs wei'e as follows.. 2024 2023 Staff costs dui-ing the year were: Wages and salaries Social security costs Peiisioii costs 25,571 343 2,061 23,163 233 2,104 27.975 25,500 Tlie ii)ont]ily average niimber of persons employed by the c11-lty dui'inu the year expressed as full time quivalents was as follows.. 2024 2023 Avei'age employees No einployee received etnoluments of more tlian £60,000 during tbe year 9 llldepezldent exaniiner's remuiieration 2024 2023 Exa]nination of tlie fiiiancial slateiiients 1,404 975 10 TaxAtion The charity is a registered charity and is therefore poteiitially exempt from taxation. Page 12
The Stevenson Centre Notes to tbe Financial Statements for the Year Ended 31 March 2024 (continued) 11 Tanuible fixed 2ssets Furniture And equipment Offiee equipment Other tsngible rixed asset Total Cost At l April 2023 Additions 9,497 596 1,804 2,818 11,897 2,818 At ) l March 2024 9.497 596 14.715 Depreciation At l April 20?3 Charge for the year 4,450 1.900 596 722 595 5,768 ?,495 At J l March 2024 6,350 596 1,317 8,263 Net book v21ue At 31 March 2024 3.147 6,452 At 31 March 2023 5.047 6,1?9 12 Debtors 2024 2023 Trade debtors Prepayments 797 1,094 13 Cash and cash equivalents 2024 2023 Cash at bank Paoe 13
The Stevenson Centre Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 14 Ci'editors: amounts fAlling due witliin one year 2024 2023 Ti?de creditoi's Other creditors Accruals 965 4.099 8,991 5,064 8,994 15 Pensioll and othei. schemes Defined conti'ibution pension scheme The charity operates a defined conti'ibutioii peiisioii schenie. Tiie pension cost charge for the year represents contributioiis payable by the charity lo the scheme and aniounted to £2,104 (2023 - £2,015). 16 Funds BAlanee At 31 Mareh 2024 Balallce at I April 2023 Incoming resources Resources expeiided Transfers Uni'estrieted fllllds General Uiiresti'icted Geneial Fiinds 35,773 83.338 {84,091) 2,049 37,069 Designuted Fixtui'es and fittings 2,049 (2,049) Total funds 37,822 83,338 {84,091) 37,069 Balance at 31 MAreh 2023 BalAnee at I Api-il 2022 Incoming resources Resources expended TrAnsfers Uni'esti'lcted funds General Uni'eskn'icted Geneial Funds 35,261 74,457 {76,885} 2,940 35,773 Designuled Fixtui'es and fittings 10.046 {5,947 2,050 2,049 Total unrestricted funds 45,307 74,457 {82,832) 890 37,822 Restricted TV Monitor 890 (890) Total funds 45.307 75.347 (82.832) 37,822 Page 14
The Stevenson Centre Notes to the Financial Ststements for the Year Ended 31 March 2024 (continued) The specific purposes fr>r which the funds are to be applied are as follows: The unrestricted funds relate to ueneral funds that are available for use at the trustee's discretion in furtheran¢e of the objectives of the charity. The Stevenson Centre desionated monies in previous years to impi'ove the Hall's facilities and equipment. 17 Analysis of net assets between funds Unrestricted funds General Total funds at 31 M2reh 2024 T2ntsible fixed Sets CLLrrent Sets Current liabilities 6.452 6,452 (5,064) {5,064) Total net assets Unrestricted funds Gener21 Total funds at 31 Mareh 2023 Tanoible fixed assets Cuent assets Cutrent liabilities 6,130 40,686 (8,994) 6,130 40,686 (8,994) Total net assets 37,822 18 Related party transactions Dunno the year the charity made the followiniy related party transactions: Durino the period, donations ajnounting to £22,417 (202J £?O,J02) were provided to tlie ¢harity from Great Cornard Parish Council, th¢ sole managing trustee. These were provided with no conditions attached. At the balance sheet date the amount due to/from was £Nil (2023 - £Nil). Paoe 15