**REGISTERED COMPANY NUMBER: 03338418 (England and Wales) REGISTERED CHARITY NUMBER: 1068666**
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **FOR**
## **ROWNER COMMUNITY TRUST**
Rothmans LLP Chartered Accountants Fryern House 125 Winchester Road Chandlers Ford Hampshire SO53 2DR
**ROWNER COMMUNITY TRUST**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Notes to the Financial Statements**|8|to|15|
**ROWNER COMMUNITY TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Rowner Community Trust (RCT) is a community development trust that has been created to enhance Grange Ward's well-being. Well-being traditionally has focused on happiness in terms of pleasure and pain avoidance. However, well-being can also focus on self-realisation and the ability of a person to be fully functioning. RCT aim to support both sets of understanding by supporting a combination of actions. These will be social, economic, environmental, cultural, and political actions identified by individuals and their communities as essential for them to flourish and fulfil their potential.
## **Significant activities**
Over the past year Rowner Community Trust has been working towards our vision of a healthy, happy and safe community that values and cares for all its citizens enabling everyone to reach their full potential. Our mission remains the goal of improving the quality of; and reducing the inequalities within the Grange Ward. However, like many others the Covid-19 pandemic has placed the Trust under pressure with much of our income severely effected through our buildings being closed. This has required the use of government schemes and due to good governance and using responsibly our reserves we can continue our mission. Whilst the trust has been hit by closures we are acutely aware that the local economy will be affected by the outcomes related to Covid-19. This has meant that the Trust has had to refocus our community efforts on addressing the Covid-19 impact whilst maintaining a sustainable organisation for the future.
This has resulted in the Trust applying for and gaining funding to manage and run projects that will provide much needed support in the future months. The main project will be an employment access centre to enable people to gain support to get back into work. This will incorporate self employment and enterprise training to help those seeking to strike it out on their own in business. There will be a specialist section dedicated to young people aged 18-24. To provide young people with much needed work experience and skills training RCT will combine our support with community projects that can make a lasting change here in Rowner. It will be like our very own new deal and this will include our community gardens project, the RCT kitchen and our new multi media conference centre. All projects that can provide both a stimulus and positive experience for young people.
Although we have been focusing on recovery from Covid-19 we have not forgotten existing needs and desires here in our community. RCT will continue to support or run projects that reduce people's feeling of isolation and enable residents to feel included in their community. Our efforts to attract both statutory health projects and great local learning and leisure activities will continue, albeit with covid precautions in place. RCT knows that the next 12 months will be challenging for all but rest assured that your local community development trust will be there going forward.
## **Public benefit**
The trustees confirm that they have referred to the Charity Commission's guidance on Public Benefit in deciding what activities the company should undertake in order to achieve its aims and objectives.
The activities the Trust will undertake for public benefit are as follows:
- Commit to developing an inclusive process involving debate and dialogue between the community and the RCT board.
- Provide different forms of social support through friends, neighbours, membership organisations or formal support through services and facilities.
- Develop the very place we live such as our environment whilst, developing our emotional attachment to the local area and our feeling of a sense of belonging. Having time and space to celebrate our community's cultural heritage.
- Provide residents with opportunities to increase their employment and earning potential.
- Enable a voice so local people can reduce inequalities of access to local resources and opportunities, creating a sense of collective control and influence.
- Ensure access to education, leisure, making people feel safe whilst knowing their families' future security is sustainable.
Page 1
**ROWNER COMMUNITY TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **FINANCIAL REVIEW**
## **Financial report for the year**
A summary of the year's results can be found on page 6 and 7. Total incoming resources amounted to £300,615 (2020:£255,316). Total resources expended amounted to £204,867 (2020: £222,552).
## **Reserves policy**
At the year end, unrestricted funds amounted to a surplus of £193,772 (2020: £139,499) and restricted reserves amounted to a surplus of £678,093 (2020: £636,619).
The long term policy is to accumulate unrestricted reserves to a sustainable level, sufficient to continually cover the charity's annual expenditure on meeting its objectives. This position will be reviewed regularly, in light of the charity's circumstances and the level of its income security.
## **Subsidiary company**
The charity has a wholly owned subsidiary, RCT Enterprises CIC, a community interest company, which performs facilities management services on the estate. The subsidiary generated a loss of £470 for the year and as result was unable to make a donation to the charity this year (2020: generated a profit of £11,029 for the year and as result was able to make a donation of £8,599 to the charity).
## **Reserves policy**
"Reserves" is used to describe that part of a charity's funds that are freely available to fund its general operations and so is not subject to commitments, planned expenditure or other restrictions. Consequently, Reserves do not include endowment funds, restricted funds and designated funds.
The amount of reserves is set at a target level that is a ratio of reserves to annual operating expenditure. The reserves should provide the charity with adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future.
RCT will maintain the charity’s reserves at a level which is at least equivalent to six months operational expenditure and have done so having regards to its manner of operation of likely funding streams.
The trustees review the amount of reserves that are required to ensure that they are adequate to fulfil the charity’s continuing obligations on a quarterly basis at their finance meeting.
The reason(s) why RCT needs six months level of reserves is to pay for unexpected events that could have an adverse effect on RCT ability to function.
RCT intends to establish and then maintain reserves at the amount determined by the trustees by creating a separate deposit account. The target level will be achieved by providing surplus income over a specified period to ensure the target is reached within a reasonable and secure time.
RCT trustees will review the reserves policy every year at the Audit Committee.
Page 2
**ROWNER COMMUNITY TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **FUTURE PLANS AND STRATEGY**
The strategy over the next five years is to encourage an active community with an aim to develop services and events that benefit the local community and these will be the following areas of development:
## Nimrod Community Centre
The Trust aim to maintain and consistently improve on the infrastructure and services provided at the community centre whilst improving on the local environment to make residents feel more safe and secure.
## Community Events
RCT is now in a position to support residents to create new events and groups that will make people feel both a part of the community and help them gain their own self fulfilment.
## The Arts and Media Centre
The Trust is in the process of developing a new youth arts and media centre right in the heart of the community. The aim is to redevelop the existing centre making the building and activities for young people sustainable into the future. At the same time the Trust is creating a cultural focus for Gosport involving all forms of art and media. The next few years will see a focus on fundraising whilst we create new opportunities for young people to get involved in creating their own arts and media based activities.
## RCT Enterprises CIC
RCT Enterprises CIC is a wholly owned subsidiary of the Trust and our long term aim is to provide a consistently high quality facilities management service that is accountable to the community. Our unique community first approach to facilities management creates this consistent quality threshold. For RCT Enterprises CIC our strong sense of pride in our work and the services we provide our communities is our major strength.
## To find out more go to our enterprise site www.rctenterprises.co.uk.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Constitution**
The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Rowner Community Trust was incorporated on 18 March 1997 as a company limited by guarantee and is a Charity registered under the Charities Act 2011.
The memorandum and article of association were amended effective 28 January 2011 pursuant to the Trust's commitments to the Rowner redevelopment project. The articles require that Rowner Community Trust be managed by a Board of Trustees the members of which are directors and managing trustees respectively within the meaning of the Companies Act 2006 and the Charities Act 2011.
## **Recruitment and appointment of new trustees**
Trustees are appraised of their duties and obligations under charity law and Charity Commission guidelines and recommendations. The trustees adhere to corporate governance policies and are required to register and declare any potential conflicts of interest on a regular basis. Trustees are encouraged to attend appropriate external courses to enable them to carry out their role.
## **Organisational structure**
Rowner Community Trust has a board of trustees who meet on a regular basis and are responsible for the strategic direction and policy of the Charity. The management committee have members who come from a variety of professional backgrounds relevant to the work of the Charity.
A Chief Executive Officer is appointed by the Trustees to manage the day to day operations. The Chief Executive Officer is responsible for ensuring that the Charity delivers the services specified and that key performance indicators are met.
## **Induction and training of new trustees**
Appointment of trustees is through election by members and a process of co-opting persons with appropriate skills. The Rowner Renewal Partnership also appoint three representatives. Members can vote for 4 community representatives and 2 community group representatives. New trustees are provided with a copy of the Memorandum and Articles of Association and are fully informed of their legal obligations under Charity and Company law.
Page 3
**ROWNER COMMUNITY TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
03338418 (England and Wales)
**Registered Charity number** 1068666
## **Registered office**
Nimrod Community Centre 17 Falcon Meadows Way Gosport Hampshire PO13 8AA
**Trustees** Mr T J W Houghton Mr I G Lycett Mrs M H Morgan Ms C Salerno (resigned 5/10/2020) Mr D Streek Mr I M West
**Company Secretary** Dr I J Lucas
**Independent Examiner** Robin LLoyd FCA Institute of Chartered Accountants in England and Wales Rothmans LLP Chartered Accountants Fryern House 125 Winchester Road Chandlers Ford Hampshire SO53 2DR
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
01 December 2021 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
## Iain Lucas
........................................................................ Dr I J Lucas - Secretary
Page 4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROWNER COMMUNITY TRUST**
## **Independent examiner's report to the trustees of Rowner Community Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity's 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 myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
## Robin LLoyd FCA
Institute of Chartered Accountants in England and Wales Rothmans LLP Chartered Accountants Fryern House 125 Winchester Road Chandlers Ford Hampshire SO53 2DR
01 December 2021 Date: .............................................
Page 5
## **ROWNER COMMUNITY TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021**
|**2021**
Unrestricted
Restricted
**Total**
funds
funds
**funds**
Notes
£
£
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**58,403**
**90,545**
**148,948**
**Charitable activities**
Community Levy
**108,023**
**-**
**108,023**
Other trading activities
3
**43,566**
**-**
**43,566**
Investment income
4
**78**
**-**
**78**
**Total**
**210,070**
**90,545**
**300,615**
**EXPENDITURE ON**
**Charitable activities**
5
Charitable expenditure
**155,797**
**49,070**
**204,867**
**NET INCOME**
**54,273**
**41,475**
**95,748**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**139,499**
**636,619**
**776,118**
**TOTAL FUNDS CARRIED FORWARD**
**193,772**
**678,094**
**871,866**|2020
Total
funds
£
9,770
101,014
144,304
228|
|---|---|
||255,316
222,552|
||32,764
743,354|
||776,118|
The notes form part of these financial statements
Page 6
**ROWNER COMMUNITY TRUST (REGISTERED NUMBER: 03338418)**
## **BALANCE SHEET 31 MARCH 2021**
|Unrestricted
Restricted
funds
funds
Notes
£
£
**FIXED ASSETS**
Tangible assets
12
**16,950**
**647,546**
Investments
13
**100**
**-**
**17,050**
**647,546**
**CURRENT ASSETS**
Debtors
14
**79,798**
**-**
Cash at bank and in hand
**113,558**
**30,547**
**193,356**
**30,547**
**CREDITORS**
Amounts falling due within one year
15
**(16,633)**
**-**
**NET CURRENT ASSETS**
**176,723**
**30,547**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**193,773**
**678,093**
**NET ASSETS**
**193,773**
**678,093**
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**2021**
**Total**
**funds**
**£**
**664,496**
**100**
**664,596**
**79,798**
**144,105**
**223,903**
**(16,633)**
**207,270**
**871,866**
**871,866**
**193,773**
**678,093**
**871,866**|2020
Total
funds
£
647,889
100
647,989
64,650
112,748
177,398
(49,269)
128,129
776,118
776,118
139,499
636,619
776,118|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 01 December 2021
............................................. Mr T J W Houghton - Trustee
The notes form part of these financial statements
Page 7
**ROWNER COMMUNITY TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. CHARITY INFORMATION**
Rowner Community Trust was incorporated on 18 March 1997 under the Companies Act 1985, as a private limited company (limited by guarantee without share capital) and is registered in England and Wales, registered number 03338418 .
The registered office of the company is Nimrod Community Centre, 17 Falcon Meadows Way, Gosport, Hampshire, England, PO13 8AA.
Rowner Community Trust is a charity with Charity Commission registration number 1068666.
The principal activity of Rowner Community Trust is to promote community-based activities in the Grange Ward of the borough of Gosport and, in particular, the promotion of: projects for the relief of social deprivation, education, training and employment skills, facilities for public recreation and improvement of the physical and natural environment.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
The trustees consider that there are no material uncertainties about the charities ability to continue as a going concern.
The presentation currency is pounds sterling.
## **Critical accounting judgements**
In preparing these financial statements the trustees have made the following judgements: - Determining whether income is restricted or unrestricted. These decisions depend upon the whether the donor has given the income subject to certain terms or conditions which impose a restriction in trust law.
## **Key sources of estimation uncertainty**
Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. The actual lives of the assets and residual values may vary depending on a number of factors. Factors affecting the lives of assets include technological innovation and maintenance programmes.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Tangible fixed assets are stated at cost.
The land and buildings represent a freehold building gifted to the Trust under a pre-emption deed which is included at the valuation at the date of the gift, together with the cost of a later extension. The combined value is being depreciated over the buildings' estimated economic life at 2% p.a. straight line.
Fittings and equipment are capitalised at cost and depreciated over the estimated useful economic life of the assets concerned at 25% p.a straight line.
Page 8
continued...
**ROWNER COMMUNITY TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **2. ACCOUNTING POLICIES - continued**
## **Related party exemption**
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
## **Taxation**
The Company is a registered Charity and, in the opinion of the trustees, is exempt from corporation tax on its surpluses on financial activities in accordance with section 486 of the corporation tax act 2010.
## **Fund accounting**
Funds held by the charity are either:
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the Charity without further specified purpose and are available as general funds.
Restricted funds are those where specific conditions have been imposed by the donor, or when funds are raised, regarding the fund's use or purpose.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Financial Instruments**
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value
## **3. OTHER TRADING ACTIVITIES**
## **4.**
|Room hire charges receivable
Phone mast income
**INVESTMENT INCOME**
Deposit account interest|**2021**
**£**
**26,816**
**16,750**
**43,566**
**2021**
**£**
**78**|2020
£
127,554
16,750|
|---|---|---|
|||144,304|
|||2020
£
228|
Page 9
continued...
**ROWNER COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **5. CHARITABLE ACTIVITIES COSTS**
|**5.**|**CHARITABLE ACTIVITIES COSTS**||||
|---|---|---|---|---|
|||Direct|Support||
|||Costs (see|costs (see||
|||note 6)|note 7)|Totals|
|||£|£|£|
||Charitable expenditure|**198,150**|**6,717**|**204,867**|
|**6.**|**DIRECT COSTS OF CHARITABLE ACTIVITIES**||||
||||**2021**|2020|
||||**£**|£|
||Staff costs||**107,350**|104,293|
||Light, Heat, Water||**7,313**|11,829|
||Information, communication technology||**7,169**|9,080|
||Postage and stationery||**421**|1,294|
||Sundries||**1,938**|1,723|
||Cleaning||**1,533**|1,866|
||RCT FM Services||**28,591**|53,667|
||Advertising and marketing cost||**102**|518|
||Computer costs||**1,242**|1,789|
||Travel||**73**|1,143|
||Office equipment expensed||**1,020**|671|
||Repairs||**12,001**|7,341|
||Training||**1,615**|1,793|
||Insurance||**2,495**|1,936|
||Legal and professional Fees||**400**|342|
||Bank charges||**1,249**|1,106|
||Depreciation : Buildings||**15,536**|15,536|
||Depreciation : Fixtures||**8,102**|2,011|
||Community engagement||**-**|136|
||||**198,150**|218,074|
|**7.**|**SUPPORT COSTS**||||
|||||Governance|
|||||costs|
|||||£|
||Charitable expenditure|||**6,717**|
|**8.**|**NET INCOME/(EXPENDITURE)**||||
||Net income/(expenditure) is stated after charging/(crediting):||||
||||**2021**|2020|
||||**£**|£|
||Independent examination fees||**4,877**|3,960|
||Depreciation - owned assets||**23,638**|17,547|
Page 10
continued...
**ROWNER COMMUNITY TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **10. STAFF COSTS**
The average monthly number of employees during the year was as follows:
## **11.**
|**2021**
Project managers/Coordinators
**1**
Management
**1**
Administration
**5**
**7**
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
funds
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
9,770
-
**Charitable activities**
Community Levy
101,014
-
Other trading activities
144,304
-
Investment income
228
-
**Total**
255,316
-
**EXPENDITURE ON**
**Charitable activities**
Charitable expenditure
206,533
16,019
**NET INCOME/(EXPENDITURE)**
48,783
(16,019)
**Transfers between funds**
(4,862)
4,862
**Net movement in funds**
43,921
(11,157)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
95,578
647,776
**TOTAL FUNDS CARRIED FORWARD**
139,499
636,619|2020
1
1
5
7
Total
funds
£
9,770
101,014
144,304
228|
|---|---|
||255,316
222,552|
||32,764
-|
||32,764
743,354|
||776,118|
Page 11
continued...
**ROWNER COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **12. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2020
Additions
At 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020
**13.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2020 and 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020|Freehold
Fittings
land and
and
buildings
Equipment
Totals
£
£
£
**776,805**
**27,025**
**803,830**
**-**
**40,245**
**40,245**
**776,805**
**67,270**
**844,075**
**140,186**
**15,755**
**155,941**
**15,536**
**8,102**
**23,638**
**155,722**
**23,857**
**179,579**
**621,083**
**43,413**
**664,496**
636,619
11,270
647,889
Shares in
group
undertakings
£
**100**
**100**
100|Totals
£
**803,830**
**40,245**|Totals
£
**803,830**
**40,245**|
|---|---|---|---|
|||**844,075**||
|||**155,941**
**23,638**||
|||**179,579**||
|||**664,496**||
|||647,889||
||||**100**|
||||100|
There were no investment assets outside the UK.
Investments represents the charity's wholly owned subsidiary RCT Enterprises CIC.
## **14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Community levy
Room hire
Amounts owed by group undertakings
Other debtors|**2021**
**£**
**48,966**
**21,933**
**8,899**
**-**
**79,798**|2020
£
31,870
23,403
8,899
478|
|||64,650|
Page 12
continued...
**ROWNER COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Payments on account
Trade creditors
Social security and other taxes
Accruals|**2021**
**£**
**3,379**
**6,559**
**2,316**
**4,379**
**16,633**|2020
£
43,240
120
1,530
4,379|
|||49,269|
## **16. MOVEMENT IN FUNDS**
|||Net||
|---|---|---|---|
|||movement||
||At 1/4/20|in funds|At 31/3/21|
||£|£|£|
|**Unrestricted funds**||||
|General fund|**139,499**|**54,274**|**193,773**|
|**Restricted funds**||||
|Freehold property|**636,619**|**(15,536)**|**621,083**|
|COVID Community Led Organisation||||
|Recovery Scheme|**-**|**20,826**|**20,826**|
|Coronavirus Community Support||||
|Fund|**-**|**18,643**|**18,643**|
|Power to Change C-19 Trading Income||||
|Support Scheme|**-**|**17,541**|**17,541**|
||**636,619**|**41,474**|**678,093**|
|**TOTAL FUNDS**|**776,118**|**95,748**|**871,866**|
|Net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|**210,070**|**(155,796)**|**54,274**|
|**Restricted funds**||||
|Freehold property|**-**|**(15,536)**|**(15,536)**|
|COVID Community Led Organisation||||
|Recovery Scheme|**35,545**|**(14,719)**|**20,826**|
|Coronavirus Community Support||||
|Fund|**35,000**|**(16,357)**|**18,643**|
|Power to Change C-19 Trading Income||||
|Support Scheme|**20,000**|**(2,459)**|**17,541**|
||**90,545**|**(49,071)**|**41,474**|
|**TOTAL FUNDS**|**300,615**|**(204,867)**|**95,748**|
Page 13
continued...
**ROWNER COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **16. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
Freehold property
Midsummer stage
**TOTAL FUNDS**|Net
Transfers
movement
between
At 1/4/19
in funds
funds
At 31/3/20
£
£
£
£
95,578
48,783
(4,862)
139,499
647,293
(15,536)
4,862
636,619
483
(483)
-
-
647,776
(16,019)
4,862
636,619
743,354
32,764
-
776,118|Net
Transfers
movement
between
At 1/4/19
in funds
funds
At 31/3/20
£
£
£
£
95,578
48,783
(4,862)
139,499
647,293
(15,536)
4,862
636,619
483
(483)
-
-
647,776
(16,019)
4,862
636,619
743,354
32,764
-
776,118|
|---|---|---|
|||636,619|
|||776,118|
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|255,316|(206,533)|48,783|
|**Restricted funds**||||
|Freehold property|-|(15,536)|(15,536)|
|Midsummer stage|-|(483)|(483)|
||-|(16,019)|(16,019)|
|**TOTAL FUNDS**|255,316|(222,552)|32,764|
## **FREE RESERVES**
The charity holds reserves to help it carry out its objectives effectively and to contribute towards planned future capital projects.
Reserves represent that part of the unrestricted fund which is freely available to spend on any of the charity's purposes. It excludes any restricted funds and tangible fixed assets held for the charity's use.
At the year end of the charity's total funds of £871,866 (2020: £776,118) the amount of freely available reserves was £176,723 (2020: £128,129).
## **17. RELATED PARTY DISCLOSURES**
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Page 14
continued...
**ROWNER COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **18. COMPANY LIMITED BY GUARANTEE**
The company is registered under the Companies Act 2006 and is a company limited by guarantee. The members of the company are the Trustees named on page 4. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
Page 15
**ROWNER COMMUNITY TRUST Nimrod Community Centre 17 Falcon Meadows Way Gosport, PO13 8AA**
Rothmans LLP Fryern House 125 Winchester Road Chandlers Ford Hampshire SO53 2DR
Dear Sirs
## **Letter of Representation**
This representation letter is provided in connection with your independent examination of the financial statements of the charity for the year ended 31 March 2021 under s145 of the Charities Act 2011.
We confirm that the following representations are made to the best of our knowledge and belief, having made appropriate enquiries of other trustees and officials of the charity with relevant knowledge and experience, and, where appropriate, inspection of supporting documentation sufficient to satisfy ourselves that we can properly make each of the following representations to you:
## **Representation**
1. We have fulfilled our responsibilities as trustees under the Charities Act 2011 for preparing financial statements, in accordance with the applicable financial reporting framework, that give a true and fair and for making accurate representations to you.
2. We confirm that all accounting records have been made available to you for the purpose of your examination, in accordance with your terms of engagement, and that all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management and trustees’ meetings, have been made available to you.
3. We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
4. We confirm that all grants, donations, community levy income, room hire income and other income, including those subject to special terms or conditions or received for restricted purposes, have been included in the accounts and have been notified to you.
5. We confirm there have been no breaches of terms or conditions during the period regarding the application of such income.
6. We confirm the charity has satisfactory title to all assets and there are no liens or encumbrances on the assets, except for those disclosed in the financial statements.
7. We confirm that the trustees consider that trade debtor balances are recoverable.
8. We confirm that there have been no events since the balance sheet date which require disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.
9. We confirm that at the balance sheet date the charity had no liabilities or provisions other than those recognised and no contingent liabilities other than those disclosed in the financial statements.
10. We confirm that the charity has had, at no time during the year, any arrangement, transaction or agreement to provide credit facilities (including loans, quasi-loans or credit transactions) for trustees, nor to guarantee nor provide security for such matters, except as disclosed in the financial statements.
11. We confirm that we have disclosed to you all related party relationships and transactions relevant to the charity and that we are not aware of any further related party matters that require disclosure.
12. We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
13. We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which are central to the charity ability to conduct its business.
14. We acknowledge our responsibility for the design and implementation of internal controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our own risk assessment that the financial statements may be misstated as a result of fraud.
15. We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of material fraud by former trustees, employees, regulators or others.
16. We confirm that in our opinion the charity’s financial statements should be prepared on the going concern basis on the grounds that the current and future sources of funding or support will be more than adequate for the charity’s needs. We also confirm that the period that we have considered covers a minimum of 12 months from the date of this letter.
17. We confirm that we are not aware of any matters of material significance which should be reported to the Charity Commission.
Yours faithfully,
...............................................................
Approved by and signed on behalf of the board of trustees on 01 December 2021