Company Ltd by Guarantee No: 3691811 Reglstered Charity Number . 1077034 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR BILSTON RESOURCE CENTRE (A COMPANY LIMITED BY GUARANTEE)
CONTENTS PAGE NO. COMPANY & CHARITY INFORMATION TRUSTEES, REPORT INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS 10-15
BILSTON RESOURCE CENTRE COMPANY & CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 DIREcfoRS / TRUSTEES: Mr KJ Sammonds MrPJ Share Mr M N Milligan Mrs R K Patla MBE COMPANY SECRETARY Mr S Bhardwaj REGISTERED OFFICE . St Michaels Mission Wolverhampton Street Bilston WV14 OLT COMPANYNUMBER: 3691811 (England and Wales) REGISTERED CHARITY NUMBER . 1077034 INDEPENDENT EXAMINER . Severn Accountlng Shaw Mews I Shaw Street Worcester WRI 3QQ BANKERS: Lloyds Bank 89 Church Street Bilston West Midlands WV14 OAX
BILSTON RESOURCE CENTRE REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2024 The directors, who are also trustee5 for the purpose5 Of the Charity Act, present their annual report and independently revlewed Financial Statement5 for the year ended 31. March 2024 OBJECTS AND AcfiviTIE5 As set out in the Memorandurn and Articles of Association, the oblects of the charity are: to promote the benefit of the inhabitants of the area of beneflt. In particular, to advance Christian values, education and tralning, relieve sickness and old age, preseNe and protect good health and to provide facilities in the Interest of soclal welfare for re¢atIon and other lelsure time occupation wlth the object of Improving the conditlons of life for the sa5d Inhabltants, 811ston Resource Centre's main actlvlty Is to 5UPPOrt local people to acce55 learnin& skills and employment, by provldlng a wel¢omlng open access facllity, providing Information Advice & Guldance IIAGI, help wlth Cvs and lobsearch, as well as learning opportunities in Basic Skills, ESOL and Information Technology. We also work wlth other partners within our networks and provide vocationally relevant skills and qualifications. Additionally, we have developed the community hub at)d cafe to bring community groLtps together and also enabllng organ15atlons to make use of the centre's new purpose buSlt facilitie5. All of the Centre's activities are almed at supportlng local people, in an area of high deprlvatlon. No member of the Company, Including the Dlrectors, receives any financlal benefit from thelr Involvement wlth the Centre, In developing actlvltles and deliverin8 seICeS, the Directors have taken account of the 8uldance on publlc beneflt publlshed by the Charitles Commission. ACHIEVEMENTS AND PERFORMANCE- Aprll 1023 to March 2024 BRC has achleved positive successes thls year, with the dellvery of a range of projects promotln8 engagement and outreach activities, employment and 5kllls support, learnlng support Includlng English, Maths, ESOL and Digital support and the communlty cafe has delivered a range of activitles and bookings for key stakeholder5 and residents, BRC have also dellvered new actlvltles Including creative art workshop5, cycllng and worklng wlth local partners to help address people's well-belng, in partlcular youth. BRC have contlnued to support resldents through Sts services and have also plloted some work to target young people aged 16 - 18, by working with local secondary school In 811ston, Ormlston Academy. We have also done collaborative work with Excel youth 8foup providlng meals for youth group5 and have also dellvered a ronge of pre-ta5ter IT classes for people aged 50+. Through our digital scheme we have been supportlng resldents aged 50+ to enable them to Improve thelr IT skllls and confldence using computer5 and have also worked with Dlgltal team of local authorlty to dlstrlbute/gift digStal devices to those who need most. Informatlon Advice and Guldance to Matrlx Quality Standard. Thls Included career guidance and actlon planning, help with Cvs and job appllcations, and access to Jobsearch lincludlng online job search). BRC have also taken on new volunteers to help them improve new skllls in customer care, IAG and digital mentorSng. Openaward5 and OCN accredlted learning for Baslc Skllls and ESOL. In the perlod of Aprll 2023 to March 2024, learners were supported to achleve qualif ications in Essential Dlgital Skills, Functional Skills Engllsh. Digital Skllls Courses have proven to be successful as learners who have little or no experlence with IT have achleved an entry 3 qualiflcatlon. BRC have continued to partner with the Clty of Wolverhampton Council to partlclpate in the digital chrome book lending scheme. BRC are also a key partner in the Black Country Futures strategic partnershlp group and have had the opportunity to participate in shaping the strategy of learnin& support. well-being acr055 the black country with other organisations. BRC have also continued to develop strong local partnership in the Bilston area with community providers. identifying local issues to address. BRC has successfully delivered a8ainst its key projects being UKSPF, 8CF2, Know Your Neighbourhood IKYNI and Adult Skllls Budget IASBI. These project5 have enabled BRC to test and trial new Innovotaive activities, not only supporting people's employment and training needs, but 3150 activities around their health and well-being needs improving people's selfsteem, self-belief and confidence. with particular focus on young people, over 50s and non-native speakers of other languages including refugees.
BILSTON RESOURCE CENTRE REPORT OF THE TRUSTEES { continued) FOR THE PERIOD ENDED 31 MARCH 2024 FINANCIAL REVIEW The cha rity receives a variety of grants and donations for specific purposes, which are treated as Restricted Funds. Other income is ea rned through delivering contracts for public agencies. While not restricted funds, we are still required to account to these agencies for the use of these funds. We use the Quick Books software package to track expenditure against various funds. The largest area of expendlture is on staff sala ries. We use an external payroll agency, who are responsible for ha nd ling of PAYE and Nl and payments to HMRC. All other expenditure is authorised by the Centre Manager. Nearly all our income is received in the form of cheques or direct BACS payments, and most expenditure is made by direct bank transfers [salaries by BACSI. The bank statements are reconciled on a monthly basis. BRC have been successful with a number of contracts and projects, despite the challenges faced with projects coming to an end. While the Black Country Futures part 2 has recommenced until 2025, BRC were successful with the delivery of the Bridges European Lottery Project, supporting the unemployed and economica Ily inactive into work, BRC were also successful in delivering the UK Share Properity {UKSPFI including, Skills Connect, Support for 50+ and Get Online. Furthermore, BRC were successful with a pilot project called Know Your Neighbourhood via Heart of England, promoting volunteering and workplacement opportunities, to reduce lonliness and this has commenced until 2025. This project was open to all residents, however, with particular focus on those aged over 50 and young people aged 16-24. BRC have continued to deliver the Adult Educatlon Budget for Adult Skills, as a subcontractor provider delivering English, Maths and Essential Digital Skills, ESOL accreditted qua lifications. We at BRC continue to extend our grateful tha nks to all our funders. In line wlth the recommendations of the Charity Commlsslon, the Trustees have adopted a policy on the holding of reserves. In view of the short-term nature of the Centre's funding, the Trustees are seeking to achieve unrestricted reserves amounting to six months, salaries and running costs. Thls currently amounts to around £155,000. With net current assets of £190,179 we have comfortably covered this. The Trustees will continue to seek ways to sustaln and boost our reserves. The directors are empowered to invest monies of the Charity not immediately required for the furtherance of its objects in or upon such investments, securities or property as may be thought fit, nevertheless subject to such conditions lif any) and such consents lif any) as may for the time being be imposed or required by law. STRUCTURE, GOVERNANCE AND MANAGEMENT The Charity is constituted as a Charitable Company Limited by Guarantee and Is a charity registered with the Charity Commission number 1077034, and is therefore not subject to Corporation Tax. Governing document: Memorandum & Articles of Association incorporated on the 5 January 1999 as amended by special resolution dated 15th April 1999. The Trustees set the overall policy and direction of the Charity. Day to day management responsibility is devolved to the paid staff, led by Simon Bhardwaj, the Centre Manager, who also acts as Company Secreta ry. The Trustees all provide their services free of charge. They have a wide range of skills and experience in management in the public, private and voluntary sectors. Trustees are elected by the membership at the AGM, and serve for a three-year term.
BILSTON RESOURCE CENTRE REPORT OF THE TRUSTEES I continued) FOR THE PERIOD ENDED 31 MARCH 2024 REFERENCE & ADMINISTRATIVE DETAILS These are set out on Page 3 of these accounts. STATEMENT OF DIRECTORS, RESPONSIBILITIES The dlrettors are requlred under UK Company law to prepare financlal statements for each financial year, whlch give a true and falrvlew of the company's financlal activltles during the year and of its financial posltlon at the end of the year. In preparlng those financlal ststements, the dlrectors are requlred to: a) select sultable accountlng pollcies and apply them conslstentlv. b) make judgements and estlmates that are reasonable and prudent; cl state whether appllcable accountlng sta ndards and statements of recommended practlce have been followed, subject to any departures dlsclosed and explalned In the flnanclal statements; dl prepare the flnanclal statements on a golng concern basls unless It Is inapproprlate to presume that the company wlll contlnue In operation, The dlrectors are responslble for keeplng accountlng records, whlch dlsclose with reasonable accuracy the financial posltion of the company and which enable them to ensure that the flnanclal statements comply with appllcable law and regulatlons. They are also responslble for safeguardlng the assets of the company and hence fortaklng reasonable steps forthe prevention and detectlon of fraud and other Irregularltles. The dlrectors have Identlfled the major rlsks to whlch the charlty are exposed and have put adopted sultable rnechanisms to manage those risks. This report has been prepared In accordance with the speclal provlslons of the Companles Act 2006 appllcable to companles subject to the Small Companles regime. APPROVAL ThTS report was approved by the dlrectors on ....... ovem . 2024, and signed on their behalf: Mr Peter Share, Chalr
REPORTOF THE INDEPENDENT EXAMINER TOTHETRUSTEES OF BILSTON RESOURCE CENTRE I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31st March 2024, which are set out on pages 3-6 and 8-15 Res onslbilltles and basls of re ort As the charSty's trustees, you are responslble for the preparation of the accounts In accordance with the requirements of the Charities Act 20111"the ACV'I. I report in respect of my examination of the Truse5 accounts carried out under section 145 of the 2011 Act and In carrying out my examination, I have followed all the applicable Dirertion5 given by the Charity Commission under sectlon 14515llbl of the Act. Inde endent examinerfs statement I have completed my examination. I confirm thot no material matters have come to rny attentlon In Connèctlon wlth the examlnatlon whlch gives me cause to belleve that In. any material respect.. the accountlng records weie not kept In accordance wlth sectlon 130 of the Charitles Act,. or the accounts dld not accord with the accounting records; or the accounts dld not comply wlth the appllcable requlrements concerning the form and content of accounts set out in the Charltles IAccounts and Reports) Regulatlons 2008 other than any requirement that the accounts give a 'true and fair. view which is not a matter considered as part of an Independent examlnatlon. I have no concerns and have come across no other matters In connectlon wlth the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper understanding of the accounts to be reoched. Severn AccountSng Shaw Mews I Shaw Street Worcester WRI 3QQ Date .
Bllston Resource Centre Statement of Financial Actlvitlesl incorporating an Income and Expenditure Account) for the year ended 31st March 2024 2024 Total Funds 2023 Total Funds Restated Unrestricted Funds Deslgnated Funds Restricted Funds Notes INCOME FROM: Donations & legacles 6,900 Charltable actlvltles 53,725 148,267 201,992 325,822 Other tradln8 activities 10,343 10,343 21,554 Investment Income 920 920 164 TOTAL INCOME 64,988 148,267 213,255 354,440 EXPENDITURE ON: Ralsln8 Funds Charltable Actlvltles 110,572 23,729 175,293 309,594 334,044 TOTAL EXPENDITURE 110,572 23,729 175,293 309,594 334,044 NET INCOMEIIEXPENDITURE) before transfers 145,5841 123,7291 127,0261 196,3391 20,396 Transfers between funds Prior year Adjustment Net Incomlng/lOutgolngl resources 145,584) 123,729) 127,0261 {96,3391 20,396 RECONCILIATION OF FUNDS Total funds bought forward 253,776 359,968 602,762 1,216,506 1,196,110 TOTAL FUNDS CARRIED FORWARD 208,192 336,239 575,736 1,120,167 1,216,506 The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Att 2006, There are no recognlsed gains or losses other than those passing through the income and expenditure account.
Bilston Resource Centre Balance Sheet as at 31st March 2024 Notes At 31st March 2024 At 31st March 2023 Restated FIXED ASSETS Tangible CURRENT ASSETS Debtors & prepayments Cash at bank and in hand 916,656 972,114 13,902 191,234 205,136 495 246,168 246,663 CREDITORS Amounts falling due within one year 10 1,625 2,271 NET CURRENT ASSErs 203,511 244,392 TOTAL ASSETS LESS CURRENT UABILITIES 1,120,167 1,216,506 CREDITORS Amounts falllng due after more than one year NET ASSETS 1.120.167 1,216,506 FUNDS OF THE CHARITY Restrlcted funds Unrestrlcted funds De51gnated funds 12 575,736 208,192 336,239 602,762 253,776 359,968 TOTAL FUNDS 1,120,167 1,216,506 Forthe year endlng 31st March 2024 the company was entltled to exemptlonfrom audit under settion 477 of the Companies Att 2006 relating to small companies. Directoes responsibilltles , The members have not requlred the companyto obtaln an audlt of Its accounts forthe year In questlon In accordance wlth sectlon 476 of the Companies Act 2006. However, In accordance wlth Section 145 of the Charltles Act 2011, the flnanclal statements have been examined by an Independent Examiner, whose report is Included In these accounts. The directors acknowledge thelr responslbllitles for complying wlth the requlrements of the Cornpanles Act 2006 with respect to accountlng records and the preparation of accounts. These accounts have been prepared In accordance wlth the provisions applicable to companles subject to the small companles re8ime. The accounts were approved by the Board on ..... . oue Mr Petershare. Chair The note5 form part of the flnanclal statements
Bilston Resource Centre Notes to the Financial statements for the year ended 31st March 2024 Note I ACCOUNTING POLICIES Accountlng Conventlon The Financial Statements have been prepared in accordance with applicable accounting standards including Flnancial Roporting Standard FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, IFRS 1021, The Charities Act 2011 and the Charltle5 SORP IFRS 1021 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 IFRS 1021 (effective l January 20151. Cash Flow Statement Exemption ha5 been taken from preparing a cashflow statement on the grounds that the company qualifies as a small company. Tangible fixed assets Depreciation is provided at the following annual rates In order to write off each asset over its estimated usef ul l ife Fixtures, fitting5 & equlpment Property Other Fixed Assets 25% per annum on straightline basls 4 % per annum on stralghtline basis IO% per annum on Straightline ba51S Incomln8 Resources All incomin8 resources are Included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified wlth reasonable accuracy. Restrlcted Incoming resources in respect of capital expendSture are carried forward as deferred capital grants and released to the fund account to match the depreciation charges. Resources Expended Expenditure Is accounted for on an accruals basis and has been classlfled under headin8S that aggregate all the costs related to the category. Where costs cannot be directly attributable to particu lar headings they have been allocated to activities on a basls consistent with the use of resources. Taxation The charity is exempt from corporation tax on its charitable activitie5 Fund Accounting Unrestricted Funds can be used in accordance with the charitable objectlves at the discretion of the trustees. Restricted funds can only be used for the particular restricted purposes within the objects of the charity. Restrlctions arise when specified by the donor or when the funds are raised for a particular restricted purpose. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs The Company operates a money purchase pension scheme for employees. Employer contributions are charged as an expense in the period to which they relate and are allocated to activities in line with the related salary cost. io
Bi15ton Resource Cent Note5 to the Financial statements for the year ended 31st March 2024 Note 2 INCOME FROM DONATIONS & LEGACIES 2024 2023 Good things foundation 6,900 6,900 3 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Restated Restricted Funds DWP Resource Mgt Heart of England KYN 50 + Project Sandwell Black Country Futures- Part 2 Sandwell MBC UK Shared Prosperity 12,490 23,800 1,315 113,012 14,928 37,850 16.750 93,667 148,267 165,545 Other charitable Income Educatlon & trainlng Advlce, guidance & help Into work WVSC Voluntary Skllls Connect Other Income 52,566 71,000 2,295 86,687 295 1,159 53,725 160.277 4 INCOME FROM OTHER TRADING AcfiviTIES Centre lettln8S Café takings 3,805 6,538 10,343 10,195 11,359 21,554 Hlre charges were made for use of the Centre by various outside organ55ètlons In 2022-23. 5 INVESTMENT INCOME Interest receivable 920 164 TOTAL INCOME 213,255 354,439 Note 6 EXPENDITIJRE 2024 2023 Restated Charitable Actlvities: Staff costs 153,764 29,253 68,279 55,458 2,840 193,700 40,324 42,188 55,458 2,375 Establishment costs Direct cost of activitles Depreciation Accountancyllndependent Examiner's Fee Prior Year Adjustment 309,594 334.044 Raisin funds: staff costs other direct costs Total Expendtture 309,594 334,044 li
Bilston Resource Centre Notes to the Financial statements for the year ended 315t March 2024 Note 7 STAFF COSTS. TRUSTEES REMUNERATION AND EXPENSES During the year no remuneration for services as a director/trustee and no expenses were paid or were payable, directly or indirectly, out of funds of the charity to any trustee. Trustee Stewardship Insurance of £2,525 was paid during the year12023: £2,343) 2024 2023 Restated STAFF COSTS Wages and salaries Social security costs Pension costs Staff travel & subsistence 143,463 5,310 4,620 371 178,715 9,288 5,179 518 153,764 193,700 The average monthly number of employees during the year was There were no employees whose annual emoluments were £60,000 or more12023 . nil} Unrestrlcted Funds Deslgnated Funds Restricted Funds 8 TANGIBLE FIXED ASSETS Total Cost At l Aprll 2023 Add itions Disposals As at 31 March 2024 19,506 593,213 698,270 1,310,989 19,506 593,213 698,270 1,310,989 Depreciation At l April 2023 Charge for the period Disposals As at 31 March 2024 11,027 195,243 132,605 338,875 3,798 23,729 27,931 55,458 14,825 218,972 160,536 394,333 Net Book Value As at 31 March 2024 4,681 374,241 537,734 916,656 At 31st March 2023 8,479 397,970 565,665 972,114 12
Bilston Resource Centre Notes to the Financial statements for the year ended 31st March 2024 Note DEBTORS At 31st March At 31st March 2024 2023 Restated Trade Debtors 13,902 495 Prepayments and accrued income 13,902 495 10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Restated Trade Creditors Tax and social securlty Accrued expenses 1,625 2,271 1,625 2,271 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR 11 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total Funds 2023 Total Funds Restated Unrestricted Funds Deslgnated Funds Restricted Funds Fixed Assets 4,681 374,241 537,734 916,656 972,114 244,392 Net Current Assets Long term Liabilities 203,511 203,511 208,192 374,241 537,734 1,120,167 1,216,506 13
Bi15ton Resource Centre Note5 to the Financial statements for the year ended 315t March 2024 Note 12 Restrltted funds The Income funds of the charlty Include restricted funds comprislng the following unexpended balances of donations and grants held in trust for specific purposes MOVEMENT IN FUNDS Transfers to Deslgnated Balance at 315t Fund March 2024 Balance at l Aprll Incomlng 2023 Resources Resources Expended BBO Community Matters UK Shared Prosperity . UKSPF TNL Communlty Fund- Hub development 81ack Country Futures Heart of England - KYN Blg Lottery Fund - Capltal Grant Black Country Futures - Part 2 18421 18421 93,667 550 16131 37,850 27,931 16,750 93,667 550 16131 37.850 603,667 575,736 16,750 602,762 148,267 175,293 575,736 Blg Lottery Fund - Capltal Grant a grant through the Reaching Communltles Bijllding Programme towards the cost of the Phase 2 expanslon. The grant is subject to a 20 year legal charge, and wlll be dlscharged over this grant perlod. Black Country Futures Part 2 . (BCF Part 2) commenced Aprll 2023, as a contlnuation of BCF I, however, wlth particular focus on supporting young people Into work and provldlng Ilfe skills support. Heart of England Ivolunteerlngl June 2023- Thls was a short pllot projeit to reduce lonllness and Isolatlon through volunteerln8 placement opportunltles. Thls project was to target resSdents living In Bllston and surroundlng areas, in particular young people aged 16 . 24 and people over So. This project Is building upon the prevlous pllot scheme to enable volunteers to gain experience In caterln8 and hospltalltyi Customer care, admSnlstratlon, IT and teachlng support, Transfers Transfers may be made Sn sStuatlons where expenditure h?5 exceeded avallable grant Income or where there has been a small balance of grant remainln8 after the project completion, 14
Bllston Resource Centre Notes to the Flnanclal statements for theyear ended 31st March 2024 13 Designated Fund A sum of £23,729 has been charged as depreciation of the deslgnated capital fund, which reflects the vale of the two extensions to the premises. 14 Commltments under operating leases At 31 March 2023 the company had a commitment under a non-cancellable operating lease from Bllston Neighbourhood Church for a term of 25 years, commencing January 2014 until December 2038. This lease commit5 the company to an annual rent of £8,000 p.a. to cover Its occupatlon of the Phase l annexe at St Michaels Mlssion, Wolverhampton Street, Bilston WV14 OLT. to deliver Its services and programmes. At the expiry of the term, the asset will revert back to the owners, In December 2018 the company entered into a second lease from St Michaels Neighbourhood Church for a term of 20 years. This lease commlts the company to an annual rent of £1,400 p.a. to cover its occupatlon of the Phase 2 annexe at St Mlchaels Misslon, Wolverhampton Street, Bilston WV14 OLT, to deliver its seNices and pro8rammes. At the explry of the term, the asset wlll revert back to the owners. These commltments can be broken down as follows . Under I year Ito5 years £9,400 £37,600 Over 5 years 15 Reserves Pollcy The dlrectors have consldered the level of reseNes they wish to retaln, approprlate to the chèrlty's needs. Thls Is based on the charity's slze and the level of financlbl commltments held, The dlre¢tors aim to ensure the charlty w511 be able to contlnue to fulfll Its charitable objectives even if there Is a temporary shortfall In Sncome or unexpected expendlture, The dlrector5 wlll endeavour not to set aslde funds unnecessarily. 16 Related party transactlons £112,800 There were no transactions wlth related partles durln8 the year or previoLts year that requlre dlsclosure In these accounts. 15