THE COMMUNICARE TRUST (READING)
ANNUAL REPORT AND STATEMENT OF ACCOUNTS - FOR THE YEAR ENDED 31 OF MARCH 2024
Independent Examiners Ltd . Unit 2 The Broadbridge Business Centre Dolling Lane Bosham PO18 8NF
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THE COMMUNICARE TRUST (READING)
CONTENTS
Page 3
Legal and Administrative Information
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Page 4 to 6
Trustees’ Annual Report
Pages 7 Independent Examiner's Report on the accounts
Page 8
Statement of Financial Activities
Page 9 Balance Sheet
| Pages 10 to 15 Notes to the Financial Statements
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THE COMMUNICARE TRUST (READING)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
1078694
COMPANY. NUMBER
3843997
START OF FINANCIAL YEAR
1st April 2023
END OF FINANCIAL YEAR TRUSTEES IN THE YEAR ENDED 31ST MAR 2024
31st March 2024
Mr A Taylor - Chair of Trustees Mrs A Burford
Mrs M Codling
Mr M Chalmers - Resigned on 04.03.2024 DR R Croft Ms Helen Taylor Mr G L Brooks - Appointed on 04.01.2024
GOVERNING DOCUMENT
The Communicare Trust (Reading) is a company limited by guarantee governed by its Articles and Association dated, 17 September 1999. It is registered as a charity with the Charity Commission.
OBJECTIVES
The Relief of poverty, sickness and distress, especially but not exclusively by promoting the provision of free advice and counselling to persons who are in a condition of need, hardship or distress by reason of their social or economic circumstances
REGISTERED ADDRESS
233 Kings Road
Reading Berkshire
RG1 4LS
BANKING
Co-op Bank
INDEPENDENT EXAMINER
Independent Examiners Ltd
Unit 2, The Broadbridge Business Centre Delling Lane
Bosham PO18 8NF
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THE COMMUNICARE TRUST (READING)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OF MARCH 2024
Objectives and activities
The principal objects of the charity are the relief of poverty, sickness and distress by promoting the provision of free advice and counselling. We do this by helping people in Reading meet their complete needs through offering information, advice, and support through a variety of channels.
We have an office in Reading, open four days a week, where clients are dealt with on a first come first served basis. We have outreach services in the areas of highest need in Reading, and a Home Visit service which is mainly offered to those referred to us by other organisations, such as social services. We have a dedicated staff member who assists carers with issues related to caring and with benfits.
Achievement and Performance
In 2023/24 continued to work in partnerships to deliver the following three contracts on behalf of Reading Borough Council:
e Tackling Poverty Partnership with 6 other voluntary sector organisations providing a wrap-around service for those most in need.
¢ Wellbeing Partnership with 3 other voluntary sector partners providing support for those in need of care. e Carers Partnership with 3 other voluntary sector organisations which provides care and assessments for carers in both Reading and West Berkshire.
We also continued to develop the channels through which we help clients. Overall, we helped 5,300 clients, an increase of 13% on 2022/23, 75% face to face and 25% by telephone or email. In line with our strategy to cope with growing demand, the percentage of clients helped face to face on home visits and at outreach sessions on other organisations’ premises grew to 34% in 2023/24 compared to 29% in 2022/23. Whilst the issues dealt with continued to be dominated by benefits, representing 53% of the total, housing related issues continued at a relatively high level, and we are also helping with over 60 carer related issues each month.
CUENT ISSUES APRIL 2023 TO MARCH 2024
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THE COMMUNICARE TRUST (READING) TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31 OF MARCH 2024
Financiai Review
Our finances remain in a good position and at the end of 2023/24 we had net assets of £255k. We had a net - operating surplus in the year of just over £17k compared to a budgeted deficit of £28,000, due mostly to two unbudgeted grants applied for and received in-year, amounting to £33,000. During the year we realised the loss on one investment because of poor performance that we could not see improving. The money was invested in a cash bond account to take advantage of much improved interest rates. There was an unrealised gain on our remaining invested fund of just over £9k in-year leaving us with an unrealised gain of around £22K since we invested these funds in 2019. These investments will continue to be kept under review.
Our policy is to hold minimum reserves of 3 months expenditure which we are currently achieving.
No member of staff is paid more than £60,000 pa. No Trustees receive remuneration, and none was paid any expenses during 2023/24.
Structure, Governance and Management
The organisation is a charitable company limited by guarantee, incorporated on 17 September 1999 and registered as a charity on 21 December 1999. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £50.
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles and are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected by the other Trustees at a meeting having been given 28 days’ notice of the nomination. ‘
The CommuniCare Trust (Reading) Ltd has a Management Committee of a minimum of five members who meet quarterly and are responsible for the strategic direction and policy of the charity. During 2023/24 the Committee had seven Trustee members from a variety of professional backgrounds. A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Executive Director. The Executive Director is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met and has responsibility for the day to day operational management of the Centre, individual supervision of the staff and volunteer team and ensuring that the team continue to develop their skills and working practices in line with good practice.
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THE COMMUNICARE TRUST (READING) TRUSTEES’ REPORT (Continued) FOR THE YEAR ENDED 31 OF MARCH 2024
Statement of Responsibilities
The trustees (who are also the directors of The CommuniCare Trust (Reading) for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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¢ select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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¢ make judgements and estimates that are reasonable and prudent;
« state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity and signed on its behalf by:
Signed on behalf of the Directors ie» a CtKM .ccesecesseeeee, Director. Hc am wn j \ “ wy Print name: WAELENae TALES.. SY Pa) Ve
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INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS
Report to the charity trustees of The Communicare Trust (Reading) on the accounts for the year ended 31st March 2024 set out on pages 8 to 15.
Responsibilities and basis of report
As the charity’s trustees of The Communicare Trust (Reading) (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of The Communicare Trust (Reading) Ltd are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of The Communicare Trust (Reading) Ltd as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Zita Derbak MAAT AATQB Sign: Independent Examiners Ltd Unit 2, The Broadbridge Business Centre Delling Lane Date: 09.09.2024 Bosham PO18 8NF
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THE COMMUNICARE TRUST (READING)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OF MARCH 2024
| Unrestricted | Restricted | TOTAL | TOTAL | ||
|---|---|---|---|---|---|
| Notes | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| INCOMING RESOURCES | |||||
| Income and Endowments from: | |||||
| Donations and Legacies | 2a,11 | 141,051 | 23,226 | 164,277 | 127,969 |
| Investments | 2b | 780 | - | 780 | 220 |
| Other | 2c | 1,384 | ~ | 1,384 | 1,210 |
| TOTAL | 143,215 | 23,226 | 166,441 | 129,399 | |
| RESOURCES EXPENDED | |||||
| €xpenditure on: | |||||
| Charitable Activities | 3a,11 | 116,848 | 32,154 | 149,002 | 115,173 |
| TOTAL | 116,848 | 32,154 | 149,002 | 115,173 | |
| NET INCOME/(EXPENDITURE) BEFORE | 26,367 | -8,928 | 17,439 | 14,226 | |
| INVESTMENT GAINS/ (LOSSES) | |||||
| NETINCOME /(EXPENDITURE) |
26,367 | -8,928 | 17,439 | 14,226 | |
| Transfers between funds | - | - | - | - | |
| NET MOVEMENT IN FUNDS BEFORE OTHER | 26,367 | -8,928 | 17,439 | 14,226 | |
| RECOGNISED GAINS/ (LOSSES) | |||||
| Unrealised Gains/ (Losses) on Investments | 9,013 | - | 9,013 | - | |
| Realised Gains/(Losses) on Investments | 358 | - | 358 | -3,461 | |
| NET MOVEMENTS IN FUNDS | 35,738 | -8,928 | 26,810 | 10,765 | |
| Total Funds Brought Forward | 219,566 | 9,137 | 228,703 | 217,938 | |
| TOTALFUNDSCARRIEDFORWARD | 255,304 | 209 | 255,513 | 228,703 |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 15 form part of these financial statements.
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THE COMMUNICARE TRUST (READING) COMPANY NUMBER : 3843997
BALANCE SHEET FOR THE YEAR ENDED 31 OF MARCH 2024
| Unrestricted | Restricted | 31-Mar-24 | 31-Mar-23 | ||
|---|---|---|---|---|---|
| Funds | Funds | Total | Total | ||
| Note | £ | £ | £ | £ | |
| Fixed Assets | |||||
| Tangible assets | 6 | - | - | - | - |
| Current Assets | |||||
| Debtors | 8 | - | - | - | - |
| Cash at bank and in hand | 9,11 | 182,439 | 209 | 182,648 | 116,437 |
| Investment | 7 | 76,920 | < | 76,920 | 118,386 |
| Total Current Assets | 259,359 | 209 | 259,568 | 234,823 | |
| Creditors: amounts falling due within one year | 10 | -4,055 | - | -4,055 | -6,120 |
| NET CURRENT ASSETS | 255,304 | 209 | 255,513 | 228,703 | |
| TOTAL ASSETS less current liabilities | 255,304 | 209 | 255,513 | 228,703 | |
| NETASSETS | 255,304 | 209 | 255,513 | 228,703 | |
| Funds of the Charity | |||||
| General Funds | 255,304 | - | 255,304 | 219,566 | |
| Restricted Funds | 11 | - | 209 | 209 | 9,137 |
| TotalFunds | 255,304 | 209 | 255,513 | 228,703 |
For the year ending 31st March 2024 the Company was entitled to exemption from audit under section 477(2) of the Companies Act 2006 relating to small companies.
Directors' responsibility:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006; and
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The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and for the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006 and in accordance with FRS102 SORP.
The financial statements on pages 8 and 9 were approved by the directors, and authorised for issue on:
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Date: : G / “) 7,
Signed and approved by on behalf of all the Directors: > p } ;
Print name : He EN IV Lok Y
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THE COMMUNICARE TRUST (READING) . NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OF MARCH 2024
Charity status
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £50 towards the assets of the charity in the event of liquidation.
1. ACCOUNTING POLICIES
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
The Communicare Trust (Reading) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
INCOME
Recognition of Income
These are included in the Statement of Financial Activities (SOFA) when: - the charity becomes entitled to the income;
- it is more likely than not that the trustees will receive the resources; and - the monetary value can be measured with sufficient reliability.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
Grants and Donations
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).
Tax Reclaims on Donations and Gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
Contractual Income and Performance Related Grants
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.
Gifts in Kind
Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.
Legacies
Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
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THE COMMUNICARE TRUST (READING) NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 OF MARCH 2024
Donated Services and Facilities
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the Directors’ annual report.
Income from interest, royalties and dividends
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Insurance claims
Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an item of other income in the SoFA.
Income from membership subscriptions
Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.
Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
fi { liabiliti
The charity has opted to prepare its accounts using natural categories.
Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Governance and Support Costs
Support costs represent the cost of central functions, for example governance costs, payroll administration, information technology. Governance costs are those support costs which relate to public accountability of the charity and its compliance with regulation and good practice.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.
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THE COMMUNICARE TRUST (READING) NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 OF MARCH 2024
Employee benefits
Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.
Redundancy cost
The charity made no redundancy payments during the reporting period.
Deferred income
No material item of deferred income has been included in the accounts,
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date
Fixed Assets
These are capitalised if their value is £500 or more, if they can be used for more than one year, and are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
| 2. ANALYSIS OF INCOME | Unrestricted | Restricted | TOTAL | TOTAL | ||
|---|---|---|---|---|---|---|
| Funds | Funds | 2024 | 2023 | |||
| £ | £ | £ | £ | |||
| a) Donations and Legacies | ||||||
| Donations, grants & support | 11 | 141,051 | 23,226 | 164,277 | 127,969 | |
| b) Investments | 141,051 23,226 164,277 127,969 TE |
|||||
| Interest received | 780 | - | 780 | 220 | ||
| 780 | - | 780 | 220 | |||
| c) Other Income | ||||||
| Other income | 1,384 | - | 1,384 | 1,210 | ||
| 1,384 | = | 1,384 | 1,210 | |||
| 3. ANALYSIS OF EXPENDITURE | Unrestricted | Restricted | TOTAL | TOTAL | ||
| Funds | Funds | 2024 | 2023 | |||
| Notes | £ | £ | £ | £ | ||
| a) Charitable Activities | ||||||
| Salaries and NI | 4,i1 | 103,127 | 32,154 | 135,281 | 100,851 | |
| Staff Pension | 3,694 | - | 3,694 | 2,685 | ||
| Insurance | 768 | - | 768 | 766 | ||
| Travelling Expenses | 413 | - | 413 | 117 | ||
| Telephone/Internet | 1,835 | - | 1,835 | 2,061 | ||
| Postage & Stationery | 1,664 | - | 1,664 | 1,721 | ||
| Training | 192 | - | 192 | 293 | ||
| Independent Examiner's Fee | 1,230 | : | 1,230 | 1,512 | ||
| Accountancy | 499 | - | 499 | = | ||
| General expenses | 1,122 | - | 1,122 | 1,384 | ||
| Office Furniture & Equipment | - | - | - | 1,475 | ||
| TT costs | 1,215 | - | 1,215 | - | ||
| Repair & Maintenance | - | - | - | 128 | ||
| Subscriptions | 1,089 | - | 1,089 | 2,180 | ||
| 116,848 | 32,154 | 149,002 | 115,173 |
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THE COMMUNICARE TRUST (READING) NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 OF MARCH 2024
| 4. STAFF COSTS AND NUMBERS | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Gross Wages and Salaries | 131,381 | 100,851 |
| Employer's National Insurance Costs | 8,900 | 5,000 |
| National Insurance Allowance | -5,000 | -5,000 |
| Pension Contributions | 3,694 | 2,685 |
| 138,975 | 103,536 |
No employee received emoluments in excess of £60,000 for the period. (2023: Nil)
Average number of employees in the year was 5. (2023: 5)
5. TRUSTEES AND OTHER RELATED PARTIES
No trustee was paid for any additional roles in this financial year. (2023:Nil) No transactions took place between trustees and related parties in the financial year. (2023: Nil)
No trustee reimbursement took place in this financial year (2023: Nil).
6. TANGIBLE FIXED ASSETS
The charity has no fixed assets in Property, Fixtures & Fitting or Equipment in a value of £500 or more. (2023: Nil)
| 7. CURRENT ASSET INVESTMENT | Ethical | Fixed Interest | TOTAL | |
|---|---|---|---|---|
| Investment | Accumulation | 2023/24 | ||
| Fund | Fund | |||
| £ | £ | £ | ||
| Market Value at 31st March 2023 | 67,907 | 50,479 | 118,386 | |
| Additions in the year at cost | = | - | - | |
| Disposals in the year | = | -50,837 | -50,837 | |
| Increase/ (Decrease) in valuation | 9,013 | 358 | 9,371 | : |
| Marketvalueat31March2024 | 76,920 | - | 76,920 |
The Historical Cost of the investments totalled to £110,000. Investment was purchased in 24.09.2019. Fixed Interest Accumulation Fund was sold in FY 23/24.
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THE COMMUNICARE TRUST (READING) NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 OF MARCH 2024
| 8. DEBTORSAND PREPAYMENTS | Unrestricted | Restricted | Total | Total |
|---|---|---|---|---|
| Fund | Fund | 31-Mar-24 | 31-Mar-23 | |
| £ | £ | £ | £ | |
| Tax Recoverable | . | - | = | - |
| OtherDebtors | - | - | - | - |
| 9. CASH AT BANKAND IN HAND | Unrestricted | Restricted | Total | Total |
|---|---|---|---|---|
| Fund | Fund | 31-Mar-24 | 31-Mar-23 | |
| £ | £ | £ | £ | |
| Reserves Account | 27,354 | = | 27,354 | 27,160 |
| Current Account | 53,487 | 209 | 53,696 | 39,206 |
| Savings Account | 50,655 | - | 50,655 | 50,068 |
| Fixed term Saving | 51,000 | - | 51,000 | - |
| Petty Cash | 152 | = | 152 | 3 |
| 182,648 | 209 | 182,857 | 116,437 |
| 10. CREDITORS AND ACCRUALS: AMOUNTS | Unrestricted | Restricted | Total | Total |
|---|---|---|---|---|
| FALLING DUE WITHIN ONE YEAR | Fund - |
Fund | 31-Mar-24 | 31-Mar-23 |
| £ | £ | £ | £ | |
| Tax & Social Security Cost | 2,300 | - | 2,300 | 5,528 |
| Crisis Payment | 525 | - | 525 | 592 |
| Independent Examiners Fees | 1,230 | - | 1,230 | - |
| 4,055 | - | 4,055 | 6,120 |
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THE COMMUNICARE TRUST (READING) NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 OF MARCH 2024
11. RESTRICTED FUNDS
| CURRENT REPORTING PERIOD | CURRENT REPORTING PERIOD | CURRENT REPORTING PERIOD | Balance 01-Apr-23 |
Income | Expenditure | Transfers | Balance 31-Mar-24 |
|
|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||||
| Big Lottery Fund | 9,137 | - | - | 9,137 | - | - | ||
| National Lottery | Community Fund | - | 23,226 | - | 23,017 | - | 209 | |
| 9,137 | 23,226 | - | 32,154 | - | 209 | |||
| PR | T | ERI | Balance | Balance | ||||
| 01-Apr-22 | Income | Expenditure | Transfers | 31-Mar-23 | ||||
| £ | £ | £ | £ | £ | ||||
| Big Lottery Fund | 5,655 | 36,589 | - | 40,071 | - | 9,137 | ||
| 5,655 | 36,589 | - | 40,071 | : | 9,137 |
The restricted funds are wholly represented by cash reserves of the charity.
12, RISK ASSESSMENT
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free . reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
13. RESERVES POLICY
The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
14. PUBLIC BENEFIT
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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