TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS FOR 31 MARCH 2024 Company Regfistration Number 2971101 Charity Number 1069864
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENryS YEAR ENDED 31 MARCH 2024 Colltents Page Members of the board and professional advisers Trnstees, annual report Independent Examiner's report Statement of financial activities Balancc sheet Notes to the financial statements 9-15
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS The board of trustees Mr. Stephen Lismore Ms. Margaret Mason OBE (Chair) Ms. Julia Mason Mr. Christopher Mitchell Company secretary Mr. Christopher Mitch¢ll Registered oifice TrSureS Neighbourhood Nursery 23 High Street Staveley Chesterfield D¢rbyshire S43 3UU Bankers Unity Trust Bank PIC 19 Brin(Uey place Birtningham B16 IAR Independent Examiner Mercer & Hole LLP 72 London Road St. Albans ALI INS
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE TRUSTEES. AM¥UAL REPORT YEAR ENDED 31 MARCH 2024 The trustees, some of whom are also Directors for the purposes of the Companies Ac¢ have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2024. OWECTIVES AIYD ACTIVITIES The principal objective of the Cbarity is to provide jobs and training for deprived communities through the provision of services meeting community need. Our services during the year were the provision of childcare through our Treasures Neighbourhood Nursery. Coupled with this service we also offered jobs and training to local people wishing to pursue a career in childcare. SUMMARY OF THE MAIN ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT IN RELATION TO THESE OBJECTS Wc have referred to the guidanc¢ contained in the Charity Conjmission's general guidance on public benefit when r¢vicwing our aims and objectives and planning futur¢ activities. In particular the trustees consider how planned activities will contribute to the aims and objectives they have set. ACHIEVEMEiYfs AND PERFORMANCE Governance and Management Whilst Mr. Stephen Lismore resigned to Margaret Mason as Chair, he reinS a trustee on tbe board. PerformAllce of Charlty Last year saw the strengthening of tbe charity's balance sheet. Quality of bookings and increased occupancy has remained a focus showing a positive impact.
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUAII4NTEE TRUSTEES, ALYNUAL REPORT YEAR ENDED 31 MARCH 2024 FDIANCIAL RISKS The principal risk to the business continues to be the property lease. the landlord bas submitted a proposal for a significant increased new lease to the charity. Other avenues are also being explored by the charity. PLANS FOR THE FUTURE We believe passionately that the first five years are crucial ill the healthy development of children and our ethos in this regard is to involve our parents and carers encouraging strong relationships with them and others. W¢ have worked hard at forming relationships with other Community groups. We will continue to develop these Telationsbips in order to signpost our families to supporting services, prioritising struggling familles and the most vulnerable children. We will continue to ernploy local residents of Staveley and surrounding areas to provide Modern Apprenticeships supporting education and employment in the immediate area. We have secured a community grant and use of premises for our children to develop and experience the natural world in which they live. We plan to increase the sessions at the allotment and further develop our forest activities to a wider local community.
TOUCHSTONE COMIWUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 FUNDS HELD ON BEHALF OF OTHERS. We are not holding any funds on behalf of others. STRUCTURE GOVERNANCE AIW MANAGEMENr Governing document Touchstone Community Development is based 23 High Street, Staveley, Chesterfield, Derbysbire, S43 3UX which is the company's rcgistered office and the principal address of the charity. Touchstone Con)munity Development is a company limited by guarantee and not having a sharc capital (company registration No. 2971101) and Registered Charity (No. 10698fv1). The date of th incorporation was 26 September 1994. The Tne¢S of the Charity are also Directors for company law purposes and met on a regular basis throughout the financial year. Trustee selection methods We are currently looking for an increase of trustees to strengthen the trusts body. An assessment has been made to discover those skills required. Rlsk management pollcy As with all operators in the sector the charity continues to lobby central government for sector support and Improvements in the levels of funding provided. This is being done both through the National Day Nursery Associatioll as well as through the trustees other interests. IDdependellt examiner Mercer & Hole will continue in office as independent examiner for the ensuing year.
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMtTED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEIIR EISDED 31 MARCH 2024 Small company provRsions This r¢port has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006. Registered office: 23 High Street Staveley Chesterfield Derbyshire S43 3UX Signed on khalf of the trustees M. Mason Trustee Approved by the trustees on
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE EPEM)ENf EXAMINER)S REPORT TO THE TRUSTEES YEAR ENDED 31 MARCH 2024 Independent Examiner's Report to the Trnstees of Touchstone Community Development I report on the accounts of the company for the year ended 31 March 2024 which are set out on pages 7 to 15. Respective responsiblllties of trustees and examiner The trustees (who are also the directors of the company for the putposes of company law) are responsible for the preparation of the accounts. The tnistees consider that all audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to an audit under company law and is ¢ligible for independent examination, it is my responsibility to: examine the accounts under section 145 of the 2011 Act" follow the procedures laid down in th¢ general Directions given by the Charity Con)mission under section 145(5)(b) of th¢ 201 l Act; and state whether particular matters have come to my attention. Basis of Independent examiner's ststement My examination was carried out in accordance with genernl Directions given by the Charity Cornmission. An examination includes a revi¢w of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includ¢s considerntion of any unusual items or disclosur¢s in the accounts, and seeking ¢xplanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a -true and fair view" and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention: Which gives me rcasonable cause to believe thaL in any material respect. the requir¢ments . to keep accounting records in accordance with section 386 of the Companies Act 2006" and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met" or to which, in my opinion, att¢ntion should b¢ drawn in order to ¢nable a proper understanding of the accounts to be reached. Nl Paul Maberly M¢rcer & Hole LLP 72 London Road SL Albans Hertfordshire ALI INS
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024 Total Total Funds Year Funds Year to 31 Mar to 31 Mar 2024 £ 2023 £ Unrestrieted Restricted FuDds Funds Note Ineome Grants and Donations Investment income Charitable activities 4,496 4,496 50,167 428,474 432,970 428.474 432970 332,323 Total incoming resources 382,490 ExDenditure on Raising Funds Charitabl¢ activities 450,830 450,830 334,644 Total resources expeDded 450,830 450030 334,644 Net ineomingl(outgofing) resources before transfers Transfer betwccn fijnds (17.860) (17.860) 47.846 Net movement in funds Funds brought forward (17,860) 176,737 (17,860) 176,737 47,846 128,891 Funds carried fonvard 158,877 158,877 176,737 The charity has no recogntsed gains or losses other than the results for the year as set out above. All of the activities of the charity are class¢d as continuing. The notes on pages 9 to 15 form part of these financlal statements.
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE IYOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 IURCH 2024 2024 2023 Note Flxed assets Tangible assets 10 57,081 129,352 Current assets Debtors Cash at bank and in hand 11 6,046 113J76 8,633 53,398 119,422 62,031 Creditors: amounts falllng due withAn one year 12 (17,626) (14,646) Net current assets 101,796 47,385 Total assets less current liabilities 158,877 176,737 Net assets 158,877 176,737 Funds Restricted Unrestricted- general reseTV¢S 13 13 158,877 176.737 TOTAL FUNDS 158,877 176.737 For the year ended 31 March 2024 the company was entitled to ex¢rnption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors respoDsibilities: (i) The members have not required the company to obtsin an audit of its accounts for the year in question in accordance with section 476. and (li) Th¢ directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions for small companies und¢r Part 15 of the Companies Act 2006. These financial ststements were approved and authorised for issue by the members of the trustees and are signed on their behalf by: Date Trustee Company Registrdtion Number: 2971101 The notes oll pages 9 to 15 form part of these flnancial statejnents.
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR E[ED 31 IKARCH 2024 l. Accounting polldes The principal accounting policies adopted, judgements alld key sources of estimation uncertainty in the preparation of the financial statements are as follows: Company informatlon Touchstone Community Development is a cornpany limited by guarantee not having a share capital. The company's registered officc is, 23 High Street, Staveley, Chesterfiel(t Derbyshir¢, S45 3UX. the Memordndum and Articles of Associatio had undertaken to contribute the surn not exceeding £1 in the event of a winding up of the company. 1.1 Accounting convention These accounts have been prepared in accordance with FRS 102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" C'FRS 102"), "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS 102, th¢ Companies Act 2006 and UK Generally Accepted Accounting Practice as it apples from l January 2015. The charity is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in Sterling which is the functional cuencY of the company Monetary amounts in these financial statements to the nearest £. The accounts have been prq)ared on historical cost convention apart from freehold property tbat is carried at market value. The principal accounting policies adopted are set out below. These are accounts for the year ended 31 March 2024 prepared in accordance with FRS 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland. 1.2 Coing concern At the time of approving the accounts. the Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable ture. Thus the Trustees continu¢ to adopt th¢ going concern basis of accounting in preparing the accounts. IJ Charitable Funds UnTestricted funds are available for use at the discretion of the Trustees in fiherance of the general objectives of the clwity. Designated funds are unrestricted funds earniarked by the Trustees for particular PUryM)ses. RestrACted funds are subjected to restrictiODS on th¢ir expenditure imposed by the donor or through the tern]s of an appeal.
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 1.4 Illcoming resource8 All incoming sOurCeS are included in the SOFA when the charity is legally entitled to the income and th¢ amount can be quantified with reasonable accuracy. Gifts in kind have been included at market value of gifts received and in assets acquired. No amounts are included in the financial statements for services donat¢d by volunteers. 1.5 Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs vannot be directly attributed to particular headings th¢y have been allocated to activities on a basis consist¢nt with use of the resources. Fund-rdising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating inforniation in the support of the charitable activities. 1.6 Debtors Trade and other debtors are recognised at the setllem¢nt amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any ts7de discounts due. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks. other short- terni liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Credfitors 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 paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nornially recognised at their settlement amount after allowing for any trade discounts due. 1.9 Finaneial instruments The charity 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. Derecognition offinanexal liabllisies Finan¢ial liabilities are derecognised when the company's Contractu obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Tern7ination benefits are recognised tmmediately as an expense when the company is (kmonstrably committed to tern]inate the employment of an employee or to provide termination benefits. 1.11 Taxation The charity is exempt from tax on income and gains falling with section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitsble objects. 10-
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE NOTES TO THE FIIYANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 1.12 Depreciation Individual fixed assets are capitalised at cost and are d¢pr¢ciat¢d over their estimated useful economic as follows:_ Asset category L¢as¢hold Propety (Straight Line Basis) Office Equipment (Reducing Balance) Computer Equipment (Reducing Balance) Annuydl rate 20% Critical accounting estimates and judgements In the application of the charity's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimated and associated assumptions are based on historical expeTience and other factors that are considered to be relevant. Actual results may differ from these estimates. Grants and Donations Totsl Funds Year to 31 Mar 2024 Total Funds Yearto 31 Mar 2023 Unrestricted Funds Restricted Funds Donation 4,496 4,496 4,496 4,496 50,167 50,167 Incomfing resources from the charitable activities Total Funds Total Funds Unrestricted Restricted Year to 31 Yearto 31 Funds Funds Mar 2024 Mar 2023 NuTsery Fees and Funding Other 420,377 8,097 420,377 8,097 326,052 6,271 42&474 428,474 332,233 -11-
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE 1¥40TES TO THE FINANCIAL STATEME]YTS YEAR ENDED 31 MARCH 2024 5. Interest receivable Year to 31 Mar 2024 Yearto 31 Mar 2023 Bank interest receivable (unrestricted) Total resources expended Training costs Rent. rates, premise & insurances Repairs, renewals and cleaning Foo(L materials, equipment and protective clothing Tel¢pbonc, ststioncry & project admin Publicity and promotions Legal and professional fees Subscriptions Sundry expenses Bank charges Bad debt expense Equipment hire Wages and associated costs Depreciation Impainnent losses to Long-T¢rni Leasehold Property 877 20,196 8,533 16,774 7,635 194 6,452 1,039 83 338 425 756 724 3,212 2.928 307,744 245,324 32.047 35,932 44,950 467 12,258 9,701 15,678 7,823 414 2,028 942 Expenditure on charitable activities was £450,830 (2023: £334.644) of which £nil was restricted (2023.. £nil) 7. Net (expenditure)/income Net (expenditureyincorne for the year is stated after chargingJ(crediting): 2024 2023 Independent Examiner's Fees Depreciation 1,500 32,047 1,500 35,932 12-
TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 IWICH 2024 Dlrectors and key mAnagement personnel During the year Trustees did not receive remunerdtion. The key management personnel of the charity consist of the Trustees, professional advisors aud the Chief Executive Officer. 9. Employees The average number of staff employed by the charity during the financial year amounted to: Year to 31 Mar 2024 No 19 Year to 31 Mar 2023 Direct Charitable Staff Governance 18 19 18 The aggregate payroll costs were: Year to 31 Mar 2024 Yearto 31 Mar 2023 Wages and salaries Social security costs Pension costs 290,836 12.517 4391 237,815 3,617 3.892 307,744 245,324 No ¢mployee earned more than £60.000 per annum. No trust¢es wer¢ reimbursed for expenditure. 13-
TOUCHSTONE COMMUNITY DEVELOPMENT COIWIPAJNY LIMITED BY GUARANTEE OTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 10. Tanglble Ilxed assets Long-Tenn LEasehold Office Computer Propety Equipment Equipment Total Cost l. April 2023 Additions 475.540 71.050 4,726 75.776 4.469 551,059 4,726 555 785 At 31 March 2024 4,469 Depreciatfon and impalrment At l April 2023 Charge for the year Impairnient losses At 31 Match 2024 382,813 23,777 44,950 451.540 35,069 8,141 3.825 129 421,707 32,047 44,950 498 704 io 3S54 Net value at 31 March 2024 Net value at 31 March 2023 515 57.081 129 352 644 I l. Debtors 2024 2023 Trade Debtors Prepayments 2,065 3,981 3,247 5,386 6.046 8,633 12. Amounts falling due Ivithin one year 2024 2023 Trade Creditors Accruals Other Cr¢ditors 3,813 413 13,400 5.169 261 9.216 17,626 14.646 -14-
TOUCHSTONE COMMUNITY DEVELoPlENT COMPANY LllVItTED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 13. Statsment of funds At l April 2023 1Dcoming Outgoing Transfers At 31March 2024 General reserve 176,737 432,970 (450,830) 158.877 Totsl unrestricted fuDds 176,737 432,970 (450,830) 15&877 Restricted Funds Total restrlcted funds Total funds 176,737 432,970 {450,830) 158,877 14. Analysis of net assets Tangible rixed assets Other net assets Total Unrestricted funds General r¢s¢rve 57,081 101,796 15&877 Restricted funds 57,081 101,796 158,877 15. Related party transactions No Donations were received from related parties during the year. 15-