ADMASTON HOUSE COMMUNITY CENTRE TRUST Registered Charity 1078231 Trustees’ Report and Financial Statements for the year ending 31 March 2024
ADMASTON HOUSE
Trustees’ Report and Financial Statements, 31 March 2024
CONTENTS
| Trustees’ Report | 1-3 |
|---|---|
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Statement of Cashflows | 7 |
| Notes to the Financial Statements | 8-10 |
ADMASTON HOUSE
Trustees’ Report and Financial Statements, 31 March 2024
TRUSTEES’ REPORT
Registration and Address details
Admaston House Community Centre Trust is registered with the Charity Commission under number 1078231. The correspondence address is 12 Little Meadow Close, Admaston, Telford, TF5 0DN. The Community Centre is located at Wellington Road, Admaston TF5 0BN.
Trustees
The following people were trustees of the charity since 31 March 2023 until the date of this report, unless otherwise stated:
Paul Cooper (appointed 24 May 2023) Dawn Croker (resigned 25 October 2024) Becky Eade (resigned 13 August 2024) Terry Kiernan Martin Starbuck (resigned 13 May 2024) Barry Tillotson Chairman Kim Tonks (resigned 24 May 2023. reappointed 10 June 2024) John Wardle Treasurer
Structure, Governance and Management
The Trust was constituted on 9 April 1999 and was registered as a charity on 17 November 1999, under registration number 1078231. The Trust’s constitution was amended on 10 June 2005.
The Trustees meet on a regular basis (usually monthly) to manage the operation of the Trust. In undertaking their duties, the Trustees ensure, when exercising any powers or duties to which the Charity Commission's public benefit guidance is relevant, they have given appropriate consideration to that guidance.
Objectives, Activities and Public Benefit
The objectives of the Trust are to provide facilities in, and promote the public benefit of, a Community Centre to residents in Admaston and the neighbourhood, defined as the areas administered by Wrockwardine Parish Council (which includes Admaston and Bratton) and Wellington Town Council (which includes Shawbirch).
The trustees provide residents of these areas with the use of the centre as a place for associating together in a common effort to advance education and to provide facilities in the interest of social welfare for recreation with the objective of improving the conditions of life for everyone.
The Trust is non-party political, non-sectarian with regard to religion, and makes no discrimination with regard to sex, sexual orientation, race or age.
The success of the Trust is dependent on the voluntary work of Trustees and others. The trustees welcome anyone who has the time and enthusiasm to join them.
Achievements and Performance
The Trust’s main activity and source of income is the rent charged to users of rooms within the Admaston Community Centre building. We have a mixed user base – some who have long term commitments with the Trust and others who use a room on an occasional basis, sometimes for a single use only.
The Trust has continued to see growth in the number of users seeking to utilise the facilities available at the Community Centre, including private business meetings, activities for the public and family celebrations
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ADMASTON HOUSE Trustees’ Report and Financial Statements, 31 March 2024
Our ability to operate the centre is always dependent on volunteers and since the pandemic at the start of the decade, it seems even more difficult to recruit volunteers. During the year the Trust employed a second person to help with the administration of the Community Centre. It has also terminated the cleaning contract with an external company and now employs someone to maintain the cleanliness of the facilities.
Remedial work
Since the completion of the work to remodel and refurbish the Powell Wing in the previous financial period, the improved environment allowed dry rot to spread in parts of the improved areas. The cost of this work has been funded from reserves. The contractor engaged for the refurbishment work has still not justified an increase in the cost. Should the contractor do so, there will be insufficient funds to meet the payments, and the Trust will have to borrow from lenders it has already approached.
Results for the Year
Rental income grew by 9.34% from £43,900 to £48,000 reflecting the greater use of the facilities offered. However, expenditure exceeded income by £31,500. The vast majority of this deficit has arisen because of the significant costs incurred in rectifying a dry rot problem which arose in one pf the rooms following the refurbishment of the Powell Wing. The improved insulation provided ideal conditions for the dry rot to arise. Had this work not been necessary, the deficit would have been much smaller. The Trust is grateful to the local councils who made grants as contributions to the work necessary to correct the problem. Depreciation totalled almost £18,000 which also has a significant impact on the results for the year.
As a consequence of the deficit, cash balances fell by slightly over £10,000.
The Future
The refurbishment of the old Victorian building has made the Community Centre a more attractive venue for potential users and the Trustees continue to see interest from new users on both a regular and occasional basis. There is still a challenge to attract more daytime users as weekday evening use is at a significantly higher level when compared to usage during working hours, although daytime use is gradually increasing. The additional income raised from a higher level of use will help to generate further income to allow the Trustees to continue to enhance the offering available.
The trustees have not increased charges despite significant increases in utility costs. The Trustees have managed to maintain charges to users, however, if costs do not start to fall, the Trustees are likely to have to increase charges made to users.
Employees
During the year the charity had an average of 1 employee (2023: 1).
Policy on Reserves
Although the charity has long term arrangements with many of its users, each can be ended by exercising a termination clause and giving a period of notice, which is relatively short. The Trustees have agreed the charity should carry reserves to ensure that the charity has sufficient resources to enable costs to be covered in a period where income falls whilst another user is found.
However, during the planned work to improve facilities within the Victorian House, several structural weaknesses were discovered which required immediate rectification before the planned project could continue. The additional unforeseen costs in undertaking this work have had to be funded from reserves. In addition, the contractor for the works has submitted an invoice for costs above the quoted value. The Trustees are awaiting an explanation of this increased cost, which will also certainly necessitate the Trust having to borrow in order to meet the payments due. The Trust has discussed this with potential lenders and has received offers of funding.
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ADMASTON HOUSE
Trustees’ Report and Financial Statements, 31 March 2024
Risk Management
The major risks that the Trust may face are:
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A fall in income, should users end their use of the facilities and are not replaced by other users. However, we have a broad base of users which helps mitigate this risk.
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A lack of voluntary resources, needed to offer a service to the Community Centre users. The trustees are continually seeking to widen the volunteer base to ensure the Trust is not too dependent on a few.
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An increasing maintenance requirement as the age of the building increases. Maintenance is undertaken to minimise this risk but there is the potential for a significant need to arise from time to time.
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The inability to raise grant funding to continue to upgrade the premises to the standards expected by potential users. The trustees have been supported by, and received grants from, many charitable funders but there is no certainty for the future.
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An inability to pass cost increases onto users. Many of the groups using the centre’s facilities operate on the basis of charging users attending their groups. As costs at the centre increase, they are often mirrored by similar costs increases for individuals at home. This limits their ability to pay higher charges to the operators of the groups who in turn may then find it difficult to meet any higher charges the Trust seeks to apply. To date the Trust has not sought to increase charges but at some point it is likely to have the need to do so.
Barry Tillotson Barry Tillotson
Chairman, Admaston House Community Centre Trust 31 January 2025
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ADMASTON HOUSE
Trustees’ Report and Financial Statements, 31 March 2024
INDEPENDENT EXAMINER’S REPORT
I report on the financial statements of Admaston House Community Centre Trust for the year ended 31 March 2024, which are set out on pages 5-10. I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England & Wales
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the 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
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Anna Richards (FCA/FCCA) for and on behalf of Richards Associates Limited Statutory Auditor North Lodge Hawkesyard Armitage Lane Rugeley Staffordshire 2 uy | o WS15 1PS 3+ 31 January 2025 January 2025
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ADMASTON HOUSE
Trustees’ Report and Financial Statements, 31 March 2024
STATEMENT OF FINANCIAL ACTIVITIES
| Note Income from: Rental Income Grants and Donations Other Income Bank Interest Expenditure on: Leasehold improvements - Depreciation Heat, Light and Power Contract Services Repairs and Maintenance Payroll Insurances Domestic materials & consumables Water Telephone and Stationery Accountancy Other expenses Net Income/Expenditure and net movement in funds Total Funds brought forward Total Funds carried forward |
Year ended 31 March 2024 Unrestricted funds £ Restricted funds £ Total £ 48,041 - 48,041 - 6,000 6,000 2,526 2,526 - - - 50,567 6,000 56,567 17,936 - 17,936 19,092 - 19,092 9,453 - 9,453 18,793 6,000 24,793 5,808 5,808 2,203 - 2,203 1,940 - 1,940 5,695 - 5,695 415 - 415 300 - 300 429 - 429 82,064 6,000 88,064 (31,497) - (31,497) 747,317 - 747,317 715,820 - 715,820 |
31 | Year ended March 2023 Total £ 43,869 5,000 329 - 49,198 17,936 16,466 9,105 21,564 2,403 2,030 798 892 559 300 946 72,999 (23,801) 771,118 747,317 |
|---|---|---|---|
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ADMASTON HOUSE Trustees’ Report and Financial Statements, 31 March 2024
BALANCE SHEET
Charity Registration 1078231
| Note | 31 March 2024 | 31 March 2023 | |
|---|---|---|---|
| £ | £ | ||
| Fixed Assets | |||
| Leasehold Improvements | 6 | 735,921 | 753,857 |
| Current Assets | |||
| Debtors and Prepayments | 7 | 6,315 | 7,115 |
| Cash at bank and in hand | 20,372 | 30,520 | |
| 26,687 | 37,635 | ||
| Creditors | |||
| Amounts falling due within one year | 8 | (46,788) | (44,175) |
| Net Current Assets | (20,101) | (6,540) | |
| Total Net Assets | 715,820 | 747,317 | |
| Funds of the charity | |||
| Restricted funds | 9 | - | - |
| Unrestricted funds | 10 | ||
| Designated funds | 715,820 | 747,317 | |
| 715,820 | 747,317 | ||
| Total Funds | 11 | 715,820 | 747,317 |
The notes on pages 8 to 10 form part of the financial statements.
The financial statements were approved by the Trustees on 31 January 2025 and signed on its behalf by
Barry Tillotson Barry Tillotson Chairman Chairman
John John Wardle Wardle Treasurer Treasurer
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ADMASTON HOUSE
Trustees’ Report and Financial Statements, 31 March 2024
STATEMENT OF CASH FLOWS
| Year ended | Year ended | |
|---|---|---|
| 31 March | 31 March | |
| 2024 | 2023 | |
| £ | £ | |
| Cash flow from operating activities | ||
| Net income/expenditure | ||
| as per the Statement of Financial Activities | (31,497) | (23,801) |
| Adjustments for | ||
| Depreciation | 17,936 | 17,936 |
| (Increase)/Decrease in debtors | 800 | 11,330 |
| Increase/(Decrease) in creditors | 2,613 | 286 |
| Net cash provided by operating activities | (10,148) | 5,751 |
| Change in cash and cash equivalents during the year | (10,148) | 5,751 |
| Cash and cash equivalents at the start of the year | 30,520 | 24,769 |
| Cash and cash equivalents at the end of the year | 20,372 | 30,520 |
| Analysis of cash and cash equivalents at end of year | ||
| Cash in hand | - | - |
| Cash at bank | 20,372 | 30,520 |
| 20,372 | 30,520 |
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ADMASTON HOUSE
Trustees’ Report and Financial Statements, 31 March 2024
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting Policies
Accounting convention
The financial statements have been prepared under the historical cost convention.
Basis of accounting
The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (FRS102) and the Charities Act 2011. The financial statements have been prepared on a going concern basis.
Fixed Assets and depreciation
In accordance with the Statement of Recommended Practice for Charity Accounting, expenditure on leasehold improvements which will provide an ongoing economic benefit to the Trust through their contribution to the provision of goods or services by the Trust have been recorded as a fixed asset at historical cost. Depreciation is charged on leasehold improvements on a straight-line basis from their first use over the shorter of (a) the remaining period of the lease or (b) their estimated useful life of fifty years.
Funds
Unrestricted funds are incoming resources received for the objects of the charity and given/generated without any specific purpose for their use. Restricted funds are funds given/generated where the donor has specified, or the funds were generated, for a specific purpose. Designated funds are unrestricted funds which have subsequently been designated by the trustees for a particular purpose. The trustees may reassign designated funds at any time.
Grants and Donations
Grants and donations are only included in the Statement of Financial Activities when the charity had unconditional entitlement to the resources.
Incoming Resources
These are recognised in the Statement of Financial Activities when,
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the charity becomes entitled to the resources
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the trustees are virtually certain they will receive the resources, and
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the monetary value can be measured with sufficient reliability
Incoming Resources with related Expenditure
Where incoming resources have related expenditure, the incoming resources and the related expenditure are reported gross in the Statement of Financial Activities
Resources Expended
Expenditure is recognised on an accruals basis as the liability is incurred. Costs are allocated between expenditure categories on the Statement of Financial Activities so as to reflect the use of the resource.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account.
Volunteer Help
The value of any volunteer help received is not recorded in the accounts.
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ADMASTON HOUSE
Trustees’ Report and Financial Statements, 31 March 2024
2. Leasehold property
The charity has a 125-year lease granted in 2001. This requires the charity to maintain the property, but it is rent free.
3. Trustees’ remuneration and expenses
No trustee received any reimbursement of travel costs or other expenses in the current or previous year.
4. Related party transactions
No trustee had any personal interest in any contract or transaction entered into by the charity.
5. Taxation
As a charity, Admaston House Community Centre Trust is exempt from tax on income and from gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen.
6. Fixed assets
| Fixed assets | |
|---|---|
| Leasehold | |
| improvements | |
| £ | |
| Cost | |
| At beginning of year | 896,765 |
| Additions during the year | - |
| At end of year | 896,765 |
| Depreciation | |
| At beginning of year | 142,908 |
| Charge for the year | 17,936 |
| At end of year | 160,844 |
| Net book value - beginning of the year | 753,857 |
| Net book value - end of year | 735,921 |
The charity has a 125-year lease granted in 2001. This requires the charity to maintain the property, but it is rent free.
7. Debtors
| ebtors | |||
|---|---|---|---|
| 31 March 2024 | 31 March 2023 | ||
| £ | £ | ||
| Accrued Income | 2,996 | - | |
| Prepayments | 2,766 | 2,810 | |
| Other debtors | 553 | 4,305 | |
| 6,315 | 7,115 | ||
| reditors | |||
| 31 March 2024 | 31 March 2023 | ||
| £ | £ | ||
| Accruals | 15,051 | 19,140 | |
| Deferred Income | 2,316 | 397 | |
| Creditors | 29,421 | 24,638 | |
| 46,788 | 44,175 |
8. Creditors
9. Restricted funds
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ADMASTON HOUSE
Trustees’ Report and Financial Statements, 31 March 2024
| Balance | Balance | |||
|---|---|---|---|---|
| 31 March | Incoming | Expended | 31 March | |
| 2023 | resources | resources | 2024 | |
| £ | £ | £ | £ | |
| Building Maintenance - | ||||
| contributions to repair costs | - | 6,000 | (6,000) | - |
| 10. Unrestricted funds | ||||
| Balance | Balance | |||
| 31 March | Incoming | Expended | 31 March | |
| 2023 | resources | resources | 2024 | |
| £ | £ | £ | £ | |
| Designated fund - fixed assets | 747,317 | 48,819 | (80,316) | 715,820 |
| The designated fund for fixed assets represents the balance of amounts already | spent by the | |||
| charity on acquiring or improving | assets which has | yet to be charged as a depreciation expense | ||
| over the remainder of the respective assets’ anticipated period of | economic benefit. | |||
| 11. Movement in funds | ||||
| Year ended | Year ended | |||
| 31 March 2024 | 31 March 2023 | |||
| Restricted | Unrestricted |
Restricted | Unrestricted | |
| £ | £ |
£ | £ | |
| Opening balance | - | 747,317 |
- | 771,118 |
| Incoming resources | 6,000 | 48,819 |
1,000 | 48,198 |
| Resources expended | (6,000) | (80,316) |
(1,000) | (71,999) |
| Transfers between funds | - | - | - | - |
| Closing balance | - | 715,820 |
- | 747,317 |
The designated fund for fixed assets represents the balance of amounts already spent by the charity on acquiring or improving assets which has yet to be charged as a depreciation expense over the remainder of the respective assets’ anticipated period of economic benefit.
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