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 2024 FOR ROWNER COMMUNITY TRUST Gibson Idvhitter Chartered Accountants and Chartered Tax Advisers Larch House Parklands Business Park Denmead Hampshire P07 6XP
ROWNER COMMUNITY TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Independent Examlnarfs Report Statem6nt of Flnanclal Activitles Balance Sheet Notss to the Flnanclal Ststements 10 to 19
ROWNER COMMUNITY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 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 2024. 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 AcnviTIES Objectives and aims Rowner Communty Trust (RCT) is a communty development trust created to improve the qualty of lrfe and the local environment, enhance community connection and wellbeing, and prosperity and provide facilities and amenities for people living and working in Rowner (Alver Valley & Grange Wards) in Gosport. Our role is tt) enable and involve local people helping them to tske action to make Rowner an even greater place to live and work for all residents. Ive do this by providing and running a youth focused and youth-led facility and developing positive opportunities for local young people, running a community centre and hosting resident engagement events and activities across the neighbourhood. We champion resident leadership and encourage residents to develop new groups and activities and get involved in broader communty activities and events. We also encourage residents to take greater pride in where they live and make a contributron to community life. We seek to give residents a greater voice and advocate for the neighbouthood on key local issues to help tackle heah and other inequalities, bringing people and key organisations together to make the neighbourhood a safer and more vibrant place to live. Slgnlficant actlvltles During the 2023124-year RCT continued working towards a vision of a vibrant, happier and safer communty giving opportunities for residents to access key support and participate in communty activities while recognising the impact rising costs of living was having on many households in our communty. A decision was made not to increase the communty le charge for this financial year given the pressures that many residents were facing. This was very much a year of transition with new management and revisiting the potential for RCT to make a positive impact, building on our neighbourhood and community assets, with residenls to address the key issues affecting local quality of life. During the year we undertook a range of programmes to engage and support residents including a programme of cooking classes utilising the refurbished Nimrc*l Centre kitchen and café sp$ and a substantive expansion of our school holiday provision helping to reduce both social isolation and reduce holiday hunger while also promoting reading. We also continued the community garden and promoting other opportunities for local people to grow some of their own food and make new use of the spaces available at the Nimrod Centre. Wa continued to provide space and facilities for some vital local NHS senrfices including CAMHS and Solent MIND for mental heatth support. At the Nimrod we continued to develop our new café Spa and community café supported by Power to Change. With the support of Gosport Borough Council we alp invested in a new digrtal hub to support residents to help improve local access to key setvices and training. We also made targeted investment in improving some key spaces to make them more attractive and contemporary feeling atmosphere so we can attract and host new services and offers for local people. Page 1
ROWNER COMMUNITY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Significant activities continued INe also had a significant focus on relooking at our Youthy building and developed plans and applied for funding to improve this and the surrounding public spaces to create a more contemporary feeling Youth Arts and Media Centre (YAMC) so as to provide high-quality base for more youth and potentially cultural provision in Rowner. This relook and the plans we developed resulted in us securing a welcome investment from the Youth Investment Fund to refurbish this space so as to make it more available and attractive for more contemporary open-access youth provision. New management was also an opportunity to review the direction of RCT which resulted in changes in staffing and the development of an interim strategy to focus our work on key local issues of improving the local environment, opportunities for young people and communty image. Posittve and fruitful discussions were held with residents to identify their priorities with clear priorities around environmental quality, communiiy safety and young people emerging. As the year progressed, we adopted and tested much more of a co4esign approach which is being fully rolled out next summer. We were particularly pleased to host an inspiring and productive day-long workshop with local residents and architectural and landscaping Students from the University of Portsmouth. So for us 2023124 has been a year of consolidation and transitton and some significant changes were made. We revisited many of the issues that have challenged the trust including those which have become more pressing since the pandemic. The Board agreed an approach which means that RCT will progressively seek to up free-up intemally generated resources and secure exlemal investment to catalyse substantive efforts to address local resident's priorities. Publlc benoflt The Trustees have referred to the Charity Commission's guidance on Public Benefrt in deciding what adivities the company should undertake in order to achieve rts aims and objectives. The activities RCT undertake for public benefit include a commitment to engage and invOe residents in infoming our priorities and delivering and facilitating the community action, amenities and seDiices that they want to see. Examples of this include our work to shrfi to a more proactive approach to perceived and real antisocial behaviour and our work to encourage people to get more involved in local activitias. We continue to support and provide a range of infomal and fomal groups and activities which residents can join and participate in based al the Nimrod Centre and Youthy. We hosted a wide range of social groups, classes and activities and developed our own work around cooking and a¢sS to affordable food and growing in collaboration with a range of local and Gosport-based groups and organisations including supporting our local all¢)tment growers. During the year Trustees actively supported our new Chief Officer as V reviewed our future programmes to ensure that we had an effective programme of Vrk responding to resident priorities and the addrtional challenges brought by the costd-living crisis. We were particularly pleased to facilitate the return of Citizens Advice offering a regular l¢xal point of access to independent and trusted infonnation and advice for all local residents. Crucially, the Board with our new Chief Officer undertook a process to take stock of our position, to review the key challenges and priorities of our community and to prepare an updated interim strategy and new business plan for the coming 5-year period. The specific focus which emerged over this year was on developing the Youthy and new youth offers, testing new fomis of community engagement events and activities and improving our communications wrth residents which will be fulty tested and rolled out in the coming year. Page 2
ROWNER COMMUNITY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Financial report for the year Given the post-pandemic resource challenges we have revisited and reduced some of our core costs and carefully monitored our cashflow and bank balances, put in pla appropriate financial controls to ensure expenditure was fully in line with the purposes for which funding was given and that intended activity was delivered and social impact and outcomes achieved. This has resulted in a significantly smaller deficrt for this financial year with the aim of being in a stronger position to invest and grow in the coming years. As a resutt of our successful fundraising, total incoming resources increased to £320,865, a 27% increase on the prior year (2023.. £252,528). Total resources expended amounted to £336,586 (2023.. £310,030). l•thilst RCT made a deficit of (£15,721) we continued to invest in improving our systems and in our staffing with fewer staff but roles better aligned to respond to the priorities identified by residents. We also made the decision to continue to subsidise our café and drop in access offer allowing residents to engage and connect. This has paid dividends in temis of subsequent engagement in public space and other events. Restricted reseNes amounted to £631,360 after further income was received from Youth Investment Fund and after taking into account further depreciation on the freehold property value. Unrestricted funds stsnd at £120,447 which equates to around 5 months running costs. This is in line with our resenies policy of holding up to 6 months of running costs and demonstrates effective financial governance and management. Subsldlary company The charity retains a wholly owned subsidiary, RCT Enterprises CIC, a communty interest company, whbch has previously undertaken facilrties management services in Rowner and on behalf of RCT. The subsidiary's activities continued to be significantly limited during the 23124 year with no activty or noN contract opportunities. Directors of RCT Enterprises CIC made the decision to wind up RCT in 24125 and staff transferred back to be employed by RCT. R•8•N•s poIIcy The long-tenn policy is to accumulate unrestricted reserves to an appropriate level, sufficient to provide the charity with financial stabilty and headroom to launch new ser4ices and the means for it to meet its charitable objectives for the foreseeable future. RCT will aim to maintain the charity's reseNes at a level which is equivalent to six months operational expenditure. This will be reviewed regularly, in light of the charity's circumstances and operating environment. At 31 March 2024 our unrestricted reserves amounted to approximatety 5 months of running costs. Page 3
ROWNERCOMMUNITY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE PLANS RCT now has a clear 5 year strategy and business plan, and will continue to deliver benefrts to and wrth Rowner residents, promoting heatth and wellbeing, tackling inequalities and Invo1n9 identS in improving and looking after their local environment. In 23124 RCT will pursue three key objectives: Engage a wide cross-section of residents in identifying Rownerfs stngthS and aspirations as the basis for the generation and articulation of a positive shared identity and longer-tem community sustainability. Develop and test core RCT programmes which distinctively address the key challenges facing Rowner and Wrk with local collaborators to develop new aligned and resonating offers which promote local resident's resilience, wellbeing and a flourishing vibrant community. Refresh RCT'S business model and approaches to become more of a communty-driven organisation which is proactively shaping Rowner, attracting new investment and which is able to demonstrate impact for levyayers, all residents and key stakeholders. Our specific plans under these 3 key objectives, for 2024125 include.. Developing a Youth Voice initiative with young people in Rowner, building on investment secured for the refurbishment of the Youthy and a programme of youth engagement and provision with young people in Rowner. Refurbish the Youth building to create a contemporary, stste-of-the-art facilty for young people in Rowner- somewhere they and the whole community can be proud of and we can collectively use to inspire future generations. secu funding for the first stage of environmental improvement programme which will include aa community led engagement and open space design process. We will invest local community events and outreach worf( to engage residents in the places and parts of the neighbourhood where they live. Continue to operate the Nimrod Centre providing a range of social activities, clubs and health & wellbeing services hosted by NHS, MIND, Citizens Advice and a community café to provide space for affordable and heahY food and drink and to promote social connectedness. We will continue to use this to promote wider RCT services 8nd opportunities. Delivering support for young people and families including collaboration with our local primary and secondary schools and support for holiday activities. We will continue to be involved as a provider in Holiday Activities and Food Funding programme supported by Hampshire County Council. Take further steps with partners to tackle anti-social behaviour and provide positive activities for young people. Continue to grow and offer more volunteer and intern opportunities. Invest in promoting RCT activities and benéfts ft)r residents through organising and hosting communty events and celebrations. STRUCTURE, GOVERNANCE AND MANAGEMENT Govarnlng docum•nt The charity is controlled by lis goveming document, a deed of trust, and constrtutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Charity constltutlon The Charity is controlled by its goveming document a Memorandum of Understanding and Articles of Association, and is a company limited by guarantee, as defined by the Companies Act 2006 and incorporated on 18 March 1997 arKI is also a Charty registered under the Charities Act 2011. The Memorandum of Understanding and Articles of Association were amended effective 28 January 2011 pursuant to the Trust's commitments to the Regeneration of the Rowner neighbourhood. The articles require that RCT is managed by a Board of Trust*s who seNe as company directors and charity trustees respectively wrthin the meaning of the Companies Act 2006 and the Charities Act 2011. Recruitment and appointment of new trustees Trustees are recruited from the local communty, local Councillors and from partner organisations who support the aims and objectives of RCT. Appointment of trustees is through election by members and a process of COwOPting persons with appropriate skills. Trustees are appraised of their duties and obligations under charity law and Charity Commission guidelines. The trustees adhere to corporate govemance policies and are reqUId to register and declare any conflicts of interest regularty. Trustees are inducted and encouraged to attend appropriate training to fulfil their duties. Page 4
ROWNER COMMUNITY TRUST REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure RCT Board meets regularly Ibi-monthly) and is responsible for setting the strategy of the Charty and approving the annual business plan. We have subgroups and task and finish groups to provide additional support on Finance, HR and Marketing and Events although the small nature of the board means that most business in conduded and decisions made by the whole Board A Chief Officer (CO), appointed by the Trustees, manages the day-to-day operations and is responsible for ensuring that the Charty delivers seiceS and activities set out in the business plan and that key perf0mnCe indicators are met. CO is responsible for a small stsff team and a diverse and increasing number of volunteers and intems. REFERENCE AND ADMINISTRAnvE DETAILS Reglstered Company number 03338418 (England and Wales) RegISter Charlty number 1068666 Reglst•rad office Rowner Community Trust Nimrod Communty Centre 17 Falcon Meadows Way Gosport Hampshire P013 8AA Trust008 Mr T J W Houghton Mr l G Lycett Cllr Mrs M H Morgan Mr D Streek MsNAByer Mr S Mclndoe Resigned 12 April 2024 Resigned 30 April 2024 Independent Examlnor Gibson wher Chartered Accountants and Chartered Tax Advisers Larch House Parklands Business Park Denmead Hampshire P07 6XP Approved by order of the board of trustees on ...1.6..J.anuary.2025... . and signed on its behalf by: Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROWNER COMMUNITY TRUST Independent examlner's report to the trustees of Rowner Communlty Trust (Ihe Company. I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responslbllltles 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 (Ihe 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 carying out my examination I have followed the Directions given by the Charty Commission under Section 145(5) (b) of the 2011 Act. Independent examlnorfs statement Since your charty's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confimi that l am qualrfied to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bjieS. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord wrth those records,. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or 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 concems 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. Gavin Imbitler Gibson Whitter Chartered Accountants and Chartered Tax Advisers Larch House Parklands Business Park Denmead Hampshi P07 6XP Page 6
ROWNER COMMUNITY TRUST STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacres 22,4C Charitable activltles Communrty centre 145,895 104,985 250,880 150,753 Other trading activities Investment income 68,620 1,365 68,620 1,365 78,068 1,301 Total 215,880 104,985 320,865 252,528 EXPENDITURE ON Charltablo actlvltles Communty centre 255,357 81,229 336,586 310,030 NET INCOMEIIEXPENDITURE) (39,477) 23,756 (15,721) (57,502) RECONCILIATION OF FUNDS Total funds brought forward 159,924 607,604 767,528 825,030 TOTAL FUNDS CARRIED FORWARD 120,447 631,360 751,807 767,528 The notes fomi part of these financial statements Page 7
ROWNER COMMUNITY TRUST BALANCE SHEET 31 MARCH 2024 31.3.24 31.3.23 Notes FIXED ASSETS Tangible assets Investments 13 14 580,956 100 607,683 100 581,056 607,783 CURRENT ASSETS Debtors Cash at bank 15 199,645 47,526 91,375 123,183 247,171 214,558 CREDITORS Amounts falling due within one year 16 (76,420) (54,813) NET CURRENT ASSETS 170,751 159,745 TOTAL ASSETS LESS CURRENT LIABILITIES 751,807 767,528 NET ASSETS 751,807 767,528 FUNDS Unrestricted funds Restricted funds 18 120,447 631,360 159,924 607,604 TOTAL FUNDS 751,807 767,528 The charitable company is enkn'tbd to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (al 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 accordan with the requirements of Sections 394 and 395 and which otheiSe comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes fom part of these financial statements Page 8 continued...
ROWNER COMMUNITY TRUST BALANCE SHEET- contlnued 31 MARCH 2024 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 and authorised for issue by the Board of Trustees and authorised for 1f..4arJv.g.ry..29.2ffi..... issue on ..... . . and were signed on its behalf by.. MrT Hou on - Trustee The notes fomi part of these financial statements Page 9
ROWNER COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basls of preparlng the flnancial statemonts The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been ppared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practi applicable to charities preparing their accounts in accordan with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Stsndard 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. Golng Concern The Trustee Directors believe Rowner Communty Trust will remain a going concem for the foreseeable future and at least until January 2026. The basis for forming this opinion is that despite the changes and challenges we've faced in the months, sufficient cash balances are held to maintain and meet day to day operating costs. Regular revenues are generated from the community levy, hire and other income streams, including new grants secured, to replenish and maintain these cash balances. Based on current plans and activities, costs are likely to remain stable for the foreseeable future. Preparatlon of consolldated financlal statements The financial statements contain infomiation about Rowner Communty Trust as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. Income Voluntary income including donations, grfts and legacies and grants that provide core funding or are of a general nature ar8 recognised where there is entitlement, receipt is probable and the amount can be measured with sufficient reliability. Such income is only deferred when: the donor specffies that the grant or donation must only be used in fijture accounting periods., or the donor has imposed conditions which must be met before the charity has unconditional entitlement. Other trading activities income, such as room hire charges and phone mast income, is recognised on receivable basis. Investment income is recognised on a receivable basis. Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific conditions is rwnised as earned (as the related goods and sep4ices are provided). Grant income included in this category provides funding to support activities and is recognised where there is entitlement, receipt is probable and the amount can be measured with sufficient reliability. Such income is only deferred when.. the donor specifies that the grant or donation must only be used in future accounting periods., or the donor has imF)osed condrtions which must be met before the charity has unconditional entitlement. Volunteers and donated servlces The value of seplices prowded by volunteers is not incorporated into th&8e financial statements. Vthere goods or seplices are provided to the charity as a donation that would nonnally be purchased from suppliers, this contribution is included in the financial ststements at an estimate based on the value of the contribution to the charity. Page 10 continued...
ROWNER COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - contlnued Expendlture Expenditure Is recognised when a liability is incurred. Contractual arrangements are recognised as goods or services are supplied. Raising funds expenditure are those costs incurred in attracting voluntary income. Charitable activities include expenditure associated with providing services to th8 charity's beneflarieS and indude both the direct costs and support costs relating to those activities. Support costs, including govemance costs and central functions have been allocated to activities on a basis consistent wrth the use of resources. Grants offered sul'ect to conditions which have not been met at the year end date are noted as commitment but not accrued as expenditure. Irrecovernble VAT All resources expended are classified under activty headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of reSoUrS expended for which it was ineurred. Tanglble fixed assets Depreciation is provided at the follcwing annual rates in order to write off each asset over its estimated useful life. Freehold propety Fixtures and fittings 20A on cost 25% on cost Related party exemptlon 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 disctose related paty transactions with wholly owned subsidiaries wrthin the group. Taxatlon The charity is exempt from corporation tax on its charitable activities. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are rdised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Ponsion costs and other post-retirement beneflts The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page11 continued...
ROWNER COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations Other Grant income 2.406 20,000 22,406 Grants received, included in the above, are as folloNs: 31.3.24 31.3.23 Gosport Borough Grant 20,000 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Fundraising events Room hire charges receivable Phone mast income Café income 769 59,003 16,750 1,546 49,608 16,750 2,262 68,620 78,068 INVESTMENT INCOME 31.3.24 31.3.23 Deposit account interest 1,365 1,301 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activity Communty centre Community ntre Community centre Communty levy Project service fees Grants 117,395 109,873 2,840 38,040 133,485 250,880 150,753 Grants received, included in the above, are as follows: 31.3.24 31.3.23 Department of Work and Pensions Gosport Borough Grant Power for Change Vivid Housing HAF Localty Social Investment Business 23,790 28,500 8,000 6,250 9,900 10,000 85,085 133,485 38,040 Page 12 continued...
ROWNER COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 7> Support costs (see note 8) Totals Communty ntre 280,566 56,020 336,586 DIRECT COSTS OF CHARITABLE ACTIVITIES 31.3.24 31.3.23 Stsff costs Light, heat, water Sundries Cleaning RCT FM Serrfices Cafe spa and project costs Travel Repairs Training Youth project expenses Depreciation '. Buildings Depreciation '. Fixtures 166,643 15,402 1,886 3,459 4,591 12,057 340 6,132 1,218 40,533 15,535 12,770 117,765 11,096 6.195 3.816 42,436 474 14,710 1,338 15,535 13,387 280,566 226,752 SUPPORT COSTS Govemance costs Management Totals Communty centre 53,380 2,640 56,020 Support costs, included in the above, are as follows.. Management 31.3.24 Community centre 31.3.23 Total activities Insurance Postage and stationery Advertising Sundries Accounting software Bookkeeping and payroll costs Telephone and internet Computer costs Office equipment expensed Legal and professional fees Bank charges Consultancy fees Bad debts Settlement payment 4.507 307 5,598 1,499 3,717 7,280 5,686 78 2,069 1,603 1,213 19,590 233 2,761 1.293 860 2,426 3,625 7,673 824 1,231 8,079 2,381 19,605 30,000 53,380 80,758 Page 13 continued...
ROWNER COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS - contlnuad Governance costs 31.3.24 Community centre 31.3.23 Total activities Independent examiners fee- Gibson Whitter 2,640 2,520 NEf INCOMEI{EXPENDITURE) Net incomel(expenditure) is stated after chargingl{crediting>'. 31.3.24 31.3.23 Depreciation - owned assets Independent examiners fees 28,305 2,640 28,922 2,520 10. TRUSTEES. REMUNERATION AND BENEFITS There vrfere no trustees, remuneration or other benefrts for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustaes. exp•ns88 There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 11. STAFF COSTS 31.3.24 31.3.23 Wages and salaries Social securrty costs Other pension costs Settlement payment 152,405 12,194 107.293 8,408 30,000 166,643 147,765 The average monthly number of employees during the year was as follows.. 31.3.24 31.3.23 Charitable staff No employees reiVed emoluments in eXsS of £60,000. Page 14 continued...
ROWNERCOMMUNITYTRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 21,140 1,266 22,406 Charftable activltlas Communty centre 100,713 50,040 150,753 Other trading activities Investment income 78,068 1,301 78,068 1,301 Totsl 201,222 51,306 252,528 EXPENDITURE ON Charltabla actlvltles Community centre 241,878 68,152 310,030 NET INCOMEIIEXPENDITURE) (40,656) (16,846) (57,502) RECONCIUATION OF FUNDS Total funds brought fopward 200,580 624,450 825,030 TOTAL FUNDS CARRIED FORWARD 159,924 607,604 767,528 13. TANGIBLE FIXED ASSETS Fixlures and frttings Freehold propety Totals COST At 1 April 2023 Additions 776,805 68,301 1,578 845,106 1,578 At 31 March 2024 776,805 69,879 846,684 DEPRECIATION At 1 April 2023 Charge for year 186,792 15,535 50,631 12,770 237,423 28,305 At 31 March 2024 202,327 63,401 265,728 NET BOOK VALUE At 31 March 2024 574,478 6,478 580,956 At 31 March 2023 590,013 17,670 607,683 Page 15 continued...
ROWNER COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 14. FIXED ASSET INVESTMENTS Sha$ in group undertakings MARKEf VALUE At 1 April 2023 and 31 March 2024 100 NET BOOKVALUE At 31 March 2024 100 At 31 March 2023 100 There were no investment assets outside the UK. Investments represents the charity's wholly owned subsidiary RCT Enterprises CIC. 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtors Amounts owed by group undertakings Other debtors Prepayments 129,442 13,064 49,672 7,467 73,913 13,400 4,062 199,645 91,375 16. CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade creditors Social security and other taxes Other creditors Deferred income Accrued expenses 28,065 4,301 831 38,553 4,670 7.693 207 4,188 42,725 76,420 54,813 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restrided fund funds Fixed assets Investments Current assets Current liabilities 1,514 100 195,253 (76,420) 579,442 580,956 100 247,171 (76,420) 607,683 100 214,558 (54,813) 51,918 120,447 631,360 751,807 767,528 Page 16 continued...
ROWNER COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 159,924 (39,477) 120,447 Restricted funds Freehold property Covid Community Led Organisation Recovery Scheme Coronavirus Community Support Fund Power to change C-19 Trading Income Support Scheme Communrty workshop Locality - cost of living support Youth Investment Fund 590,013 (15,535) 574,478 1,187 2,780 (791) (1,854) 396 926 7,374 6,250 14,916) 16,250) 8,550 44,552 2,458 8,550 44,552 607,604 23,756 631,360 TOTAL FUNDS 767,528 {15,721) 751,807 Net movement in funds, included in the above are as follows: Incoming resources Resource8 expended Movement in funds Unrnstrlcted funds General fund 215,880 (255,357) {39,477) Restrlctsd funds Freehold property Covid Communty Lad Organisation Recovery Scheme Coronavirus Community Support Fund Power to change C-19 Trading Income Support Scheme Community workshop Locality - cost of living support Youth Investment Fund Holidays, Activities and Food fund (15,535) (15,535) (791) {1,854) (791) (1,854) {4,916) (6,250) (1,450) {40,533) (9,900) (4,916) (6,250) 8,550 44.552 10,000 85,085 9,900 104,985 (81,229) 23,756 TOTAL FUNDS 320,865 (336,586) (15,721) Page 17 continued...
ROWNER COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS- contlnued Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestrfcted funds General fund 200,580 (40,656) 159,924 Restrlcted funds Freehold property Covid Community Led Organisation Recovery Scheme Coronavirus Community Support Fund Power to change C-19 Trading Income Support Scheme Communty workshop 605,548 (15,535) 590,013 1,978 4,634 (791) 11,854) 1,187 2,780 12,290 (4,916) 6,250 7,374 6,250 624,450 (16,846) 607,604 TOTAL FUNDS 825,030 (57,502) 767,528 Comparative net m¢wement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 201,222 (241,878) (40,656) Restrlctsd funds Freehold propety Covid Community Led Organisation Recovery Scheme Coronavirus Community Support Fund Power to change C-19 Trading Income Support Scheme DWP- Youth Hub Communty workshop Resident training grants (15,535) {15,535) (791) (1,854) (791) (1,854) (4,916) {43,790) (4,916) 43,790 6,250 1,266 6,250 (1,266) 51,306 (68,152) (16,846) TOTAL FUNDS 252,528 (310,030) (57,502) Page 18 continued...
ROWNER COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. RELATED PARTY DISCLOSURES There were no lated paty transactions for the year ended 31 March 2024. 20. ULTIMATE CONTROLLING PARTY The charity is controlled by the trustees on behalf of the members Page 19