BROMLEY VOLUNTARY SECTOR TRUST REGISTERED COMPANY NUMBER: 03476839 (England and Wales) REGISTERED CHARITY NUMBER: 107T278 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
BROMLEY VOLUNTARY SECTOR TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES Peter Ayres (Chairl Elllot Lewls (Vice Chalr) Karl Kelledy (Treasurer) (Appolnted 13th March 2024) Sumeetjalan (Appointed 8tn May 2024) Carollne Gomm (Appolnted 81h May 2024) Ellzabeth McGowan (Appolnted 8" May 2024) Angela Wllklns Counclllor Sam Webber Mary Blalr (Reslgned on l Oth July 2024) Matthew Aldrldge (Re51gned on 20¢hJanuary 20241 COMPANY SECRETARY Aastha Kamboj STAFF MEMBERS Aastha Kamboj, Business Manager Kerry Godwln, Admlnlstratlon Steven Sutton, Caretaker REGISTERED OFFICE Community House South Street Bromley Kent BRI I RH REGisfERED COMPANY NUMBER 03476839 (England and Wales) REGisfERED CHARITY NUMBER 1077278 (England and Wales)
BROMLEY VOLUNTARY SECTOR TRUST INDEPENDENT EXAMINER Dunstanette Kuii Head of Finance Communlty Action Sutton Granfers Community Centre 73-79 Oakhill Road Sutton Surrey SMI 3AA SOLICITORS Thackray Wllllams 15-17 London Rd Bromley 8RI IDE BANKERS HSBC plc 184 Hlgh Street Brornley Kent BRI I HE CAF Bank Llmlted 2 5 King5 Hlll Avenue Klngs Hlll West Malllng Kent MEI 9 4JQ
BROMLEY VOLUNTARY SECTOR TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 ST DECEMBER 2024 The Trustee5, who are also dlrectors of the Charlty for the purposes of the Companles Act 2006. present thelr report with the financial statements of the Charity for the year ended 31 December 2024. The Trustees have adopted the provisions of Accountlng and Reportlng by Charlties.. Statement of Recommended Practlce appllcable to charltles preparing thelr accounts In accordance wlth the Flnancial Reportlng Standard applicable In the UK and Republlc of Ireland (FRS 1021 leffectlve l January 2019). OBJECTIVES AN D ACTIVITIES Review of Objectlves ana Activities The Charity'5 objectlves are to promote and Improve the efflclency and effectlveness of charlties and the appllcatlon of charltable resources by the provlslon and management for charltles and voluntary organlsatlons where they are carrylng Qui charltable actlvltle5, of offlce accommodation, conference, tralnlng and other facllltles, seNlces, and Support In the borough of Bromley. These facllltles are provided to the voluntary and communlty sector at beneflclal rates. Facllltles are also provlded to non<harltable groups at commercial rates. Communlty House (the Old MagSstrates Court), Is run by the Charity, provldlng a pernianent home for the member organlsatlons. Meeting room hire Is avallable to the member organlsatlon, outslde voluntary sector organlsatlons and the statuiory/prlvate sector, The Charlty has three employed staff, a full tlme Buslness Manager, a full tlme Buslness Support Offlcer and a part tlme Caretaker. They are asslsted by a team of several volunteer receptlonlsts. Public Beneflt Local voluntary and communlty groups ID Bromley, repre5entlng a wlde 5pectrurn of the communlty, have beneflted from the faclllties provlded In Ilne wlth the Charity's Artlcles at beneflcSal rates. The facllitles also extend to the communlty Outslde Bromley wSth no areas of society excluded. The overall aims of the organlsatlon are to provlde support to the voluntary and community sectors in Bromley. The Trustees revlew the facllltles provlded on an ongoing basis and are satisfied thai those aims are belng achleved wlth due regard to the Charity Comrni5slon'5 public benefit guidance.
BROMLEY VOLUNTARY SECTOR TRUST KEY EVENTS DURING 2024: l . Building Sale As reported in our 2023 annual accounts, London Borough of Bromley ILBB) included Communlry House in a Ilst of propertles they wanted to sell. At the end of December 2023, desplte the unanlmous efforts by resldent charitles, room hirers, Trustees, publlc, staff and users of Community House, Bromley Council sold Communlty House to Deco Investments Ltd., a prlvate redevÈloper. The start of 2024 saw the ownershlp of Communlty House pass from the London Borough of Bromley to Deco Investment5 Ltd. At the tlrne of wrltlng thls report, the lease negotlatlons are st511 underway. The maln lease Is due to explre on 27th Ottober 2025. Brornley Voluntary sector Trust have maintalned an open and honest dlalogue wlth the new owners of the buSldlng and have contlnued to work wlth them closely, We have a150 appolnted a profe551onal propemi agent to negotlate terms of a new lease. Durlng 2024, varlous repaSr works were carried out to the bulld Ing especSally the longstandlng leaks emerglng from the flat roof and these works were or9anised by the new owners Deco Investments Ltd. As reported in 2023 accounts, the Bell Tower / Cupola had been secured by scaffolding Since March 2023. Thi5 scaffolding was erected to ensure the health and safety of bullding users followlng the Scott schedule report comm155loned by BVST determlned the Bell Tower/cupola was unstable.
BROMLEY VOLUNTARY SECTOR TRUST ACHIEVEMENT AND PERFORMANCE 2024 was a 5ucce5sful year as Communlty House contlnued to be a bustllng centre for the local communlty. The news about the buildlng sale and posslble impact on smaller charities contlnues to pose a threat, however to BVST staff have contlnued to provide reassurance5 to 1 tenant5 and u5er5 of the building, The Landlord and Tenant Act of 1954 provldes a much needed buffer to the ongolng negotiatlons, however, most of 2024 was spent making good years of neglect left behlnd by the prevlous owners of the buildlng. The café operatlons have not yet resumed and BVST contlnue to hlre the café space as a meeting space as has proved to be extremely popular amongst our room hlrers. The openness and access to outside patlo areas has been an added advantage provldlng BVST a much-needed Income boost, Durlng the year, the BVST team contlnued to show prospectlve groups who were keen on taklng over the café operatlons but due to varlous reasons, the space Is an actlve kltchen. Desplte the challenges and the uncertalnty, BVST'5 room hlre Income exceeded the budget revenue wlth 1,496 bookings hosted through the year, generatlng a revenue of £114,690, the same figure In 2023 was £95.518 and 2022 was £88,858 showing steady and slgnlflcant progress, growth and trust the patron5 have shown. RECRUITMENT Trustee5 Durlng 2024, a few trustees reslgned from thelr posts We also recrulted new Trustees who support the runnlng of BVST. FINANCIAL REVIEW The Board contlnued the resee5 pollcy and agreed to malntaln slx month oxpÈndlture costs In cash reserves of £190,000. These reserves are held as unrestrlcted funds In Immedlate access bank accounts in HSBC and CAF Bank. The cash reserves at the end of 2024 totalled £197,62 7. In 2023 thls flgure was £190,817. At the end of 2024 the total unre5trlcted fund5 amounted to £226,099. In 2023 thls figure was £242,715, and con51dered net current assets for the day to day runnlng of the Charlty. This figure has decreased due to the deficlt of income over expendlture15ee later). The restrlcted funds totalled £3,836 at the end of 2024 (2023.. £52,590). All fixed a55ets purchased by the organi5atlon In ordinary course of business are classified as unresrrlcted.
BROMLEY VOLUNTARY SECTOR TRUST The total net unrestricted deflclt for the year was £16,616 (202 3: deflclt of £1,077) mainly due to the Ilquldatlon of a sutenant (Relate) and addltlonal legal & professlonal fees for new lease negotiatlons. Income amounted to £433,777 (2023: £406,136) comprislng of income from charltable acrlvltles of £432,240 (2023.. £404,998}, and investment Income of £1,537 (2023: £1 ,138). All of the income Is unrestricted Income. Resources expended Iboth restricted and unrestrlcted) amounted to £499,147 (2023-. £473,096) resulting in net outgolng resources for the year at £65,370 (2023.. £66,960) including a restricted depreciation charge of £48,754 (2023.. £65,883). The Trustees contlnue to monltor cash reseNes plu5 Income and expendlture information agalnst agreed budgets on a monthly bas15, and remain satisfled that the charity contlnues to operate a5 a g0Sng concern. STRucfuRE, GOVERNANCE AND MANAGEMENT Bromley Voluntary Sector Trust Is a company Ilmlted by guarantee and Is governed by Its Memorandum and Artlcle5 of Associatlon. It Is a150 a registered Charlty. The Trustee Board cornprises of repre5entatlves from the member organlsatlon5, the local Voluntary and Community Sector and they possess a variety of skllls and abllitles. Prlor to election, they are Invlted to attend Board meetlngs to galn an understandlng of how the Trust operates. The Board meets bl-monthly, the Chair. Vice Chalr, Treasurer and and the Buslness Manager, who comprlse the Resources Commlttee also meet bl-monthly alternatlng to the full Board. The Resources Committee reviews the general tradlng 51tuatlon and make5 recommendatlons regardlng capltal expendlture to the main board. Trustees and Dlrectors are Independent and recelve no remuneratlon for thelr Involvement In the Charlty. BVST are actlvely revlewlng thelr processes, pollcles and governan to futureproof the charlty and organ15ation. BVST wlll also draft a new buslnes5 plan for the next five years wlth the objectlve of managlng the trust effertlvely. These tasks have been pushed due to the on9olng lease renewal proce55. Lease negotiations a5 ongolng wlth new owners of Communlty House.
BROMLEY VOLUNTARY SECTOR TRUST Statement of Trustees. responsibilities The Trustees (who are a150 the directors of Bromley Voluntary Sector Trust for the purposes of company law) are responslble for preparin9 the Report of the Trustees and the financial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practice). Company law requlres the Trustees to prepare flnanclal statements for each financlal year whlch glve a true and falr vlew of the state of affalrs of the charltable company and of the Incomlng resources and appllcatlon of resources, Includlng the Income and expendlture, of the charltable company for that perlod. In preparlng those financial statements, the Trustee5 are requlred to. select sultable accountlng pollcles and then apply them conslstently. observe the methods and prlncSples In the Charlty SORP. make Judgements and estlmates that are reasonable and prudent. prepare the flnanclal statements on the golng concern basls unless It is Inappr¢prlate to presume that the charltable company wlll contlnue In buslness. The Trustees are responslble for keeplng proper accountlng records whlch disclose wlth reasonable accuracy at any tlrne the financlal posltlon of the charltable company and to enable them to ensure that the flnanclal statements compW wlth the Companles Act 2006. They are a150 respon51ble for safe9uardlng the assets of the charltable company and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other Irregularltles. Approved by order of the Board of Trustees on it5 behalf by: and sl9ned on Peter Ayres Chalr of Trustees
BROMLEY VOLUNTARY SECTOR TRUST Independent Examlnefs Report to the Thistees of Bromley Voluntary Sector Trust I report to the charlty trustee5 on my examlnation of the accounts of the company for the year ended 31 December 2024 whlch are set out on pages 9 tol 8. Responslbllltles and basls of report As the charity trustees of the company (and its dlrectors for the purposes of company law) you are responsible for the preparatlon of the accounts In accordance wlth the requirements of the Companles Act 2006 ('the 2006 Act,). HavSng satlsfied myself that the accounts of the company are not requlred to be audlted under Pan 16 of the 2006 Act and are ellglble for independent examlnatlon, I report In respect of my examlnation of your company's accounts as carrled out under sectlon 145 of the Charltles Act 2011 ('the 2011 Act,). In carrylng out my examinatlon I have followed the Dlrectlon5 glven by the Charlty Commlsslon under settlon 1451511b) of the 2011 Act. Independent examlnees statement Slnce the company's gross Income exceeded £250,000 your examlner must be a mernber of a body listed In section 145 of the 2011 Act. I conflrm that l am quallfled to undertake the examlnatlon because l am a member of Assoclatlon of Chartered Cenlfied Accountant, whlchls one of the Ilsted bodle5. I have completed my examlnatlon. I conflrm that no matters have come to my attentlon In connectlon with the exarnlnatlon gSvlng me cause to belleve that In any materlal respect.. accountlng records were not kept In respect of the company as requSred by sectlon 386 of the 2006 Act. or 2. the accounts do not accord wlth those records., or 3. the accounts do not comply wlth the accountlng requlrements of settlon 396 of the 2006 Act other than any requlrement that the accounts glve a 'true and falr vlew, whlch Is not a matter considered as part of an Independent examlnation: or 4. the accounts have not been prepared In accordance wlth the methods and prlnclples of the Statement of Recommended Practlce for accounting and reporting by charlties lappllcable to charities preparlng thelr accounrs In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102). I have no concerns and have come acr055 no other mallers In connectlon with the examination to which attentlon should be drawn In thls report in order to enable a prop run tanding of the accounts to be reached. nette Kutl Communlty Actlon Sutton, Granfers Community Centre, 73-79 Oakhill Road, Sutton, Surrey, SMI 3AA
Bromley Voluntary sector Trust Statement of flnanclal actfvitles Ilncorporatlng an Income and expendlture account) For the ar ended 31 D¢cemlxr 2024 2024 Total Unrestrirted Restrlrted 2023 Toial Unrestricted Restrlcted Note Income from: Charitable activltles Provisiort of accomodation & support seNices to other charltles Invtsrment Income 432.240 1,537 432.240 1,537 404,998 1,138 404,998 1,138 Total Incom• 433,777 433,777 406,136 406,136 Exptndftu on: Charltable actlvltles Provlslon of accomodatlon & support services to other charltles Staff c05r5 INote 4) 112,230 Depreclatlon 13,023 Ll9ht, Heat and Telephone 31,707 Bad Debt 7,811 Repalrs and Malntenance 4,592 Cleanlng 35,207 Rent, Rates, Insurance & Subscrlptlons Legal and Profe551onal Fees Accounting, admln support and Independent examlnatlon Fees 112.230 61.777 31.707 7,811 4,592 35,207 75,155 479 37,718 75.155 66,362 37,718 48,754 65,883 6,799 32,791 6,799 32,791 190,869 19,532 190,869 19,532 171,306 25,304 171.306 25.304 4,S87 4.S87 5,125 5,125 Support costs Ll ht. Heat and Tele ntlng. Statlonery Expenses Repairs and Maintenance Rent. Rate5, Insurance & Subscrlptions Sundry Expenses AdvertlslnglPromotion Total •xpindltuM hone 9,934 9.934 13,670 13.670 4.199 14.9S2 4,199 14.952 3,274 33.473 3,274 33.473 921 352 477 921 352 477 873 713 533 873 713 533 450,393 48.754 499,147 407.213 65,883 473.096 Nat Income l (expendftum) b•for• n•1 (16,6161 (48,7541 (65.370) (1,0771 165,883) (66,960) Net Income l (exptfftdltur•) for tho 3 (16.6161 (48,7541 <65,370) (1,0771 165.883) 166,9601 Transfers beThveen funds 43,180 143.180) Net movement In funds 12 (16.616) (48,7541 (65.370) 42,103 1109.063) 166,960) Reconclllatlon of funds: Total fund5 brought forward Totsl funds carrled forward 242.715 52.590 295.305 200,612 161,653 362,265 226.099 3.836 229.935 242,715 52,590 295,305 All of the above results are derlved from contlnuing aitivitie5. There were n¢J other recoyn15ed gains or1055e5 Other than Ihose stated above. Movements In fund5 are dlsclosed In Nole I Z to the financial Statements.
Bromldy Voluntary Sertor Trust Company no. 03476839 BalarK• shett s ar 31 Dece b r?024 2024 2023 Note Flx•d assats: Tangible a5set5 Current assets: Debtor5 Cash at bank and In hand 3&400 95,660 24.472 197.627 24,457 190,817 222.099 215,274 Uabllttles: Creditors.. amounts falling due withln one year 28,564 15,629 N•t curr•nt assats l Olabllltl•s) 193,535 199,645 Totsl assets less curr•nt Ilabllltl•s 229,955 295.305 Totyl n4t ass•ts i (Ilibllltl•s 229,935 295,305 Th• funth ofthe tharlty. Restrlcted Income funds Unrestrlcted Income funds= General funds 3.836 52,590 226,099 242,715 To(al unrestrlcted funds 226,099 242,715 Totsl dwlty funds 229,935 295.305 The charltable company is entltled to exemptlon from audit under sectlon 477 of the Companles Act 2006 for the year endlng 31 December 2024. The members have not réqulred the company to obtaln an audlt of its financlal statements for the year ended 31 December 2024 In accordance wlth sectlon 476 of the Companlos Act 2006. Th4 Trustees acknowledge thelr responslbilitles for {al ensuring that the charitable company keeps ac¢ountlng records that comply wlth Sectlons 386 and 387 of the Companles Act 2006 and Ibl preparlng financlal statement5 whlch glve a true and falr vlew of the stare of affalrs of the charitsble company a5 at th• •nd of •ach financlal y•ar and of It£ Eurplus or doficlt for each financlal year In accordance with the requlrements of Sections 394 and 395 and which otherwise comply with the requlrements of the Companles Act 2006 relatlng to flnanclal Statements, 50 far as appllcable tD the charStable company. These flnanclal statements have been prepared In ac¢ordance wlth the speclal provlsSon5 of Part 15 of the Companles Act 2006 relatlng to charitable Small companles. and slgned on thelr behalf by Approved by the Trustees on 10
Broml•y Voluntary Sector Trust Notes to the flnanclal statements For tb.• ar •nded 31 fier_ewb•r 20?4 l Accounllng pollcl•s a) Ba515 of preparatk)n The financial statements have been prepared In accordance wlth Accounting and Reportlng by Charltles: Statement of Recommended Practlce appllcable to charltles preparlng thelr account5 In accordance with the Flnanclal Reporting Standard appllcable In the UK and Republlc of Ireland (FRS 102) 2019, the Flnanclal Reportlng Standard applicable in the UK and Republlc of Ireland (FRS 1021 and the Companles Act 2006. Assets and liabllltles are inltlally recognlsed at hlstorlcal cost or transaction value unless otherwlse stated In the relevant accounting pollcy or note. b) Publlc beneflt entlty The charltable company meets the deflnltlon of a publlc beneflt entity under FRS 102. O Golng concern The trustees conslder thai there are no materlal uncertalntles about the charltable company's ablllty to contlnue as a golng concern. There are no keyJudgements that the charitable company has made whlch have a slgnlficant effect on the account5. d) Key source of estlmatlon. uncertalnty and Judgement The preparatlon of flnancial statements In conformlty wlth generally accepted accounting practlce requlre5 trustees to make estlmates and judgements that affect the reported amounts of assets and Ilabllltles as well as the dlsclosure of contlngent assets and Ilabllltles at the balance sheet date and the reported amount5 of revenues and expenses durlng the reportlng perlod. There Is e5tlmation uncertalnty In calculatlng depreclatlon. A revlew of fixed assets is carrled out by the trustees regularly. Whilst every attempi is made to ensure that the depreciatlon policy Is as accurate as posslble. there remalns a rlsk that the pollcy does not match the useful Ilfe of the assets. •) Income Incorne Is recognlsed when the charlty has entltlement to the funds. any performance condltlons attached to the Income have been met, it 15 probable that the Income wlll be recelved and that the amount can be measured rellably. Income from government and other grants. whether 'capital' grants or 'revenue' grants, Is recognlsed when the charity has entltlement to the funds. any performance condltlons attached to the grants have been met, it 15 probable that the income wlll be recelved and the amount can be measured rellably and Is not deferred. Income received in advance of the provislon of a speclfled service is deferred untll the criterla for Income recognltlon are met. fj Interest recefvabl• Interest on funds held on deposlt is included when receivable and the amount can be measured reliably by the charity- thi5 is normally upon notificatlon of the interest pald or payable by the bank.
Bromley Voluntary Sector Trust Notes to the flnanclal statements For the ear ended 31 December 2024 l Accountlng pollcles {contlnued) Fund accountlng Restrlcted funds are to be used for speclflc purposes as lald down by the donor. Expendlture whlch meets these crlterla Is charged to the fund. Unrestrlcted funds are donatlon5 and other incomlng resources recelved or generated for the charitable purposes. Deslgnated funds are unrestrlcted funds earmarked by the trustees for partlcular purposes. h) Expendlture and Irrecoverable VAT Expendlture Is recogn15ed once there Is a legal or constructlve obllgatlon to make a payment io a thlrd party, It Is probable that settlement will be requlred and the amount of the obllgatlon can be measured rellably. Expendlture Is cla55lfled under the followSng actlvity headlng5: Costs of raising funds relate to the costs incurred by the charltable company In Inducing thlrd partles to make voluntary contrlbutlons to It. as well as the c05t of any actlvitles wlth a fundra151ng purpose • Expendltu re on charltable actlvltles Includes the costs of provlsion of space and seNices undertaken to further the purposes of the charlty and thelr assoclated support costs • other expend Iture represent5 those items not falllng Into any other headlng Irrecoverable VAT15 charged as a cost agaln5t the actlvlty for which the expenditure was incurred. l) Operatlng lease5 Rental charges are charged on a straSght Ilne basis over the term of the lease. J) Tanglble flxed assets Items of equi pment are capltallsed where the purchase prlce exceeds £250. Depreclation cost5 are allocated to actlvltles on the basls of the use of the related assets In those actlvitles. Asset5 are reviewed for Impalrment If clrcumstances Indlcate thelr carrylng value may exceed thelr net reallsable value and value In use. Where flxed asset5 have been revalued. any excess between the revalued amount and the hlstorSc cost of the asset wlll be shown as a revaluarlon reserve In the balance sheet. Depreclatlon Is provlded at rates calculated to wrlte down the cost of each asset to It5 estimated resldual value over Its expected useful Ilfe. The depreclatlon rates In use are as follows.. • Long Leasehold property 4% per annum or to the end of rhe lease whlchever Is shorter Telephone equlpment 8.33% on cost Flxture5 and fittlngs 20% on cost k) Debtor5 Trade and other debtors are recognised at the settlement amount due after any trade d15count offered. Prepayments are valued at the amount prepald net of any trade d15counts due. l) Cash at bank and In hand Cash at bank and cash In hand Includes cash and Short term hlghly liquld Investments wlth a Short maturity of three months or less from the date of acqui51tion or openlng of the deposit or similar account. Cash balances exclude any funds held on behalf of service users. 12
Bromley Voluntsry Sector Trust N¢xes to the flnanclal statements For the ar Énd 31 D_0}ber 2024 l Accounllng pollcles (contlnued) m) Credltors and provlslons Credliors and provlslons are recognlsed where the charlty has a present obllgatlon resulting from a past event that wlll probably result in the transfer of funds to a thlrd party and the amount due to settle the obllgation can be measured or e5tlmated reliably. Credltor5 and prov15ions are normally recognlsed at thelr settlement amount after allowing for any trade dlscounts due. The charlty only ha5 flnanclal assets and flnanclal Ilabllltles of a klnd that quallfy a5 ba51c flnanclal Instruments. Baslc flnanclal Instruments are Inltially recognlsed at transactlon value and subsequently measured at thelr settlement value wlth the exceptlon of bank loans whlch are subsequently measured at arnortlsed cost uslng the effective interest method. n) Penslons Employer contrlbutlons to employees defTned contrlbutlon pension schemes are charged to Statement of Flnanclal Actlvltles durlng the year. 2 Income from charftable 2024 Total 2023 Total Unrestrlcted Restrlcted Rental Income and Servlce Charyes Recelvable 432,240 432,240 404,998 Total Income from charltable actlvltles 432,240 432,240 404.998 13
Bromley Voluntsry Sector Trust Notes to the financlal statements rthe r ended 31 December 2024 3 Net Incomlng resources for the year Thls Is stated after charglng I crediting.. 2024 2023 Depreciation Independent examinatlon 61,777 1.000 66,362 1.000 Analysls of staff costs, Trustae remuneratlon and expen5¢s. and the cost of key manag•m•nt personnel Staff costs were as follows., 2024 2023 Salarles and wages Soclal securlty costs Employer's contrlbutlon to defined contrlbution pension schemes Staff recrultment, tralnlng & Volunteers expenses 101.335 4,547 2,413 3.935 71,312 1.195 1,528 1.120 112.230 75,155 No ernployee earned more than £60,000 durlng the year (2023.. nll). The total employee beneflts Sncludlng penslon contrlbution5 of the key management personnel were £44.553 (2023: £34,207). The charlty Trustees were not pald or received any other beneflts from employment wlth the charlty In the year1202 3: £nllJ. No charlty Trustee recelved payment for professional or other setvlces supplled to the charlty (2023: £nll). No Trustees recelved payments for relmbursement of travel and subslstence costs relatlng to attendance at meetlngs of the trustees 12023: nll). Staff numbers The average number of employees (head count based on number of staff employed) durlng the year was a5 follows: 2024 2023 No. Charltable actlvltles 14
Bromley Voluntary Sector Trust Notes to the flnanclal statements For the ar ended 31 DeCeMr 2024 Related party transactlons There are no related party transartions to disclose for 2024 (2023: none). There are no donations from related partles whlch are outside the normal course of buslness and no restrlcted donatlons from related partles. 7 Taxatlon The charltable company Is exempt from corporatlon tax as all it5 Income Is charltable and is applled for charltable purp05e5. Tanglbl• flxod asset5 Flxtures and Telephone fittlngs equlpment Leasehold property Total Cost or valuatlon At the start of the year Addltlons In year 149.759 2,517 45,314 1,226.567 1.421.640 2,517 At the end of the year 152,276 45,314 1,226,567 .424,157 Depreclatlon At the start of the year Charge for the year 139.238 3,887 22.615 1,164.127 3,776 54,114 1.325.980 61,777 At the end of the year Net book value At the Ind of the y•ar 143,125 26,391 1.218,241 1.387.757 9.151 18,923 8,326 36.400 At the start of the year 10.521 22,699 62.440 95,660 All of the above assets are used for charltable purposes. Debtors 2024 2023 Trade debtors Prepayments and accrued income 16,796 7.676 16,602 7,855 24.472 24.457 Over 95% of trade debtors pald by the end of February 2025. 15
Bromley Voluntary Sector Trust Notes to the flnanclal statements th• v•Ar *nd•d ?1 December 20?4 l O Credltors.. anKbunts falllng due wlthln ono year 2024 2023 Trade credltors Taxatlon and social 5ecurfty Other creditors Accruals 2.567 3.939 64 21.994 8.390 1.815 125 5,299 28,564 15,629 I l Anatysls of net assets betsyeen funds at the end of year General unrestrlcted Deslgnated Restrlcted Total funds Tanglble fixed assets Net current assets 32.564 193,535 3,836 36.400 193.535 Net assets at the end of the year 226.099 3,836 229,935 Analysls of not assets between funds at the stan of year General unrestrlrted Deslgnated Restrlcted Total funds Tanglble flxed assets Net current assets 43,070 199,645 52,590 95,660 199.645 Net ass•ts at the end of the y•ar 242.715 52.590 295.305 16
Bromley Voluntary Sector Trust Notes to the financlal statements For the ar ended 31 December 2024 12 Movements In funds At the start of the year Income & Expenditure galns & losses At the end of the year Durlng the year Transfers Re5trltted funds: Leasehold Prernlses and FlxturÈs & Flttlngs London Clty Brldge Trust grant for equipment for worklng from home Direct Llne Group grant for PPE equlpment 51,748 (48.282) 3.466 741 (401) 340 loi 171) 30 Total fQStrkted funds 52.590 (48.754) 3,836 Unrestrfcted funds: en 242,715 433,777 1450,393) 226,099 Total unrestrfcted funds 242.715 433,777 (450,393) 226,099 Total funds 295.305 433,777 (499,147) 229.935 At the start of the year Income & Expenditure galns & losses At the end of th• yoar Durlng prevlous year Transfers Restrltted funds: Leasehold Premises and Flxtures & Flttlngs London Clty Brldge Trust grant for equlpment for workln9 from home Dlrect Llne Group grant for PPE equipment 159.726 165,251) 142.727) 51.748 1,755 1561) (4531 741 172 (71) Total r•strlrted funds 161,653 165,883) (43.180) 52.590 Unrestrlcted fvnds eneral fu 200.612 406.136 (407.213) 43.180 242.715 Total unrnstrfcted funds 200,612 406,136 (407,213) 43.180 242.77 5 Total funds 362,265 406.136 (473.096) 295.305 Transfers from restricted fund to general funds Is to reflect the correct net book value of flxed asset5 bought uslng restricted grant funds. 17
Bromley Voluntary Sector Trust Notes to the flnanclal statements Ftir thÈ vear ended 41 n•br 2024 13 Oporatln9 lease commltmÈnts The charitrfs total future mlnimum lease payments under non-cance51able operatlng leases Is a5 follows for each of the followlng perlods Property 2024 2023 Less than one year One to two years Two to five years 106.543 178,728 103.744 106.543 282.472 14 L•gal status of th• charfry The charlty Is a company Ilmlted by guarantee and has no share capltal. The Ilabllity of each member In the event of winding up is Ilmited toan amount not exceedlng £1 O. 18