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← Bourne Arts And Community Trust Limited

2025-04-30-accounts

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 April 2025

Wake House

41 North Street

Bourne Lincolnshire PE10 9AE

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Contents of the Financial Statements for the Year Ended 30 April 2025

Page
Contents of the Financial Statements 1
Report of the Trustees 2 - 11
Independent Examiner's Report 12
Statement of Financial Activities 13
Balance Sheet 14 - 15
Notes to the Financial Statements 16 - 26

1

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees for the Year Ended 30 April 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charity's objects ("the Objects") are:

1) To promote the benefit of the inhabitants of Bourne and the surrounding villages without discrimination of sex, sexual orientation, race, or of political, religious, or other opinions, by associating together the inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education, relieve poverty and sickness, and to provide facilities in the interests of social welfare for recreation and other leisure time occupation with the object of improving the conditions of life for the said inhabitants.

2) To establish or secure the establishment of a community and arts centre (hereinafter called Wake House Arts and Community Centre) and to maintain and manage the same, whether alone or in co-operation with any local authority or other person or body in furtherance of these objects.

Public Benefit

The trustees consider that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The reporting year has seen rental significantly increase over the year, primarily driven by engagement via social media, our website and direct opportunities. The Administrator and Trustees have worked to foster relationships within the local community and this has contributed significantly to raising the profile of BACT and Wake House in the town.

Following the acceptance of our Expression of Interest form to The National Lottery Heritage Fund, a Development Stage application was submitted and subsequently accepted by the NLHF in September 2024. The project title of “Celebrating 200 Years of Worth” has the reference HZ23-00024. This will enable us to repair/restore Wake House, improve access for visitors and - develop the Charles Frederick Worth heritage.

2

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees for the Year Ended 30 April 2025

ACHIEVEMENTS AND PERFORMANCE - continued

The grant awarded was £140,126, this being 69% of the total Development project cost of £202,526. The difference being made up with non-cash contributions e.g. Volunteers time and a commitment from BACT to £25,000 match funding. The match funding comprising £5,000 from BACT and £20,000 from other grant sources. Applications to the Architectural Heritage Fund and the Garfield Weston Foundation were unsuccessful. We are very grateful to Bourne United Charities for granting £10,000 towards the match fund, this leaving £10,000 still to find.

Heritage Lincolnshire assisted in our Development Application at a cost of £3629, however we did not progress a partnership agreement with them, but recruited a Project Manager, Dale Copley of Lode Heritage Ltd.

A “Start-Up” meeting was held with the NLHF in December and permission to start the project was granted in January 2025.

A range of consultants will be recruited, to assist Trustees in fulfilling the “Approved Purposes” of the project as detailed by the NLHF. At the year-end April 2025, recruitment is taking place for an Architect and an Activities consultant.

Monthly Project Meetings will be held with the Project Manager, Trustees and appropriate consultants. Quarterly meetings to be held with the NLHF Senior Investment Manager.

The Development Stage will terminate on 31st May, by which time a completion report and evaluation report will be submitted.

It is then our intention to submit a Delivery Stage application by 17th October 2026.

Particular thanks must go to Alan Mear who has led on this project.

Throughout the period of this report, BACT have hosted meetings at Wake House in preparation for the Bicentennial Celebrations of the birth of Charles Frederick Worth across the weekend of 11th and 12th October 2025. Meetings have been attended by community groups and organisations from within and around the town.

3

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees for the Year Ended 30 April 2025

ACHIEVEMENTS AND PERFORMANCE - continued

Maintenance and Health & Safety

At the start of this reporting period, the Fire Risk Assessment for the building was updated and a revised schedule of fire safety checks adopted. Subsequently we employed a qualified consultant to carry out the FRA which highlighted a series of risks, which are currently being actioned against agreed timescales.

An Asbestos survey was also commissioned. This identified three areas of significant risk, which have been addressed.

The CCTV system captured three incidents within and around the premises. Images were sent to the police. We thank Bourne United Charities, the Len Pick Trust and Bourne Round Table for funding the CCTV system.

Health and Safety and Fire Safety information have been placed on specific notice boards, to provide ready information for our users.

During the year we have gained several new users and pleased to welcome The Hive, who support parents, carers and family members, with children who have additional needs. The Citizens Advice Bureau continues to attend on three days per week thanks to joint funding from Bourne Town Council, Bourne United Charities and the Len Pick Trust.

New documents have been generated to allow us to carry out greater due diligence on users at the point of rental application.

The annual rental increase was kept to an absolute minimum at 3%.

The mix of users is in line with the BACT charity objects.

Trustees have made several necessary improvements to the structure and décor of the building. These improvements have been carried out by Trustees themselves, volunteers, volunteers from local businesses and local tradesmen at reduced rates.

4

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees for the Year Ended 30 April 2025

ACHIEVEMENTS AND PERFORMANCE - continued

A considerable amount of work remains to bring both the exterior and interior of the building to the standard we would like. Success in stage three of our bid for NLHF grant funding (Celebrating 200 Years of Worth) would allow us to achieve this.

Trustees have hosted or attended several successful events during the reporting period.

Trustees and staffing

At the end of the reporting period the Trust had seven Trustees who meet on a monthly basis at Wake House.

Pam Hallas, resigned from the Trust at the end of January 2025, due to a career change and increased work commitments. Pam’s expertise in HR is still available to the Trust.

Roy Miskelly resigned from the Trust at the end of March 2025, after 22 years as a Trustee and 13 years as Caretaker/Maintenance. The Trustees were very pleased to present Roy with an engraved pocket watch in recognition of his most valued service.

5

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees for the Year Ended 30 April 2025

ACHIEVEMENTS AND PERFORMANCE - continued

Ann Wakeford is the lead Trustee for volunteer recruitment.

David James is the Company Secretary and is responsible for ensuring that the Trust meets its Charity Commission and Companies House responsibilities.

Alan Mear heads the Staffing Committee and has led on the NLHF application.

Roger Baldwin administers the staff wages.

Martin Adkins has re developed our website and improved our IT systems.

Martin Siddle is the Chair of Trustees.

The position of Treasurer had been vacant up to the 25th April 2025, when James Rae joined as Treasurer. From 1st May 2024 to 25th April 2025, the position was ably filled by Mike Hallas on a temporary basis.

Sallyanne Fulcher, who has Facilities Management and Health and Safety experience joined the board in September 2025

The Trust has been ably supported over the year by its members of staff, Julie Smith (Cleaner and key holder), Nic Willet (Cleaner and key holder), Adele Read (Administrator) and Roy Miskelly (Maintenance/Caretaker).

The Trust would also like to acknowledge the support it has received from the following:-

Hegarty Solicitors, who have nominated Bourne Arts and Community Trust as their Charity of the year.

Jenni Ashwood – Heritage Volunteer Sue Mear – Heritage Volunteer Averil James – Volunteer Brenda Catlin – Volunteer. David Bower – Financial advice. Nic Willet – Grant applications Old Town Hall – Donation of chairs. Nathan Read – Maintenance Belmont Carpenters – Supply of materials. Simon Stuart – Electrician and Plumbing Kevin Brown – Building works Steve Guillari – Decoration of two rooms. Johnsons Hotel Linen, Volunteers – Decoration of two rooms. Hegarty Solicitors – Tidying and replanting of flower beds. Bourne United Charities (our landlords) – for continued support.

6

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees for the Year Ended 30 April 2025

ACHIEVEMENTS AND PERFORMANCE - continued

As we progress through 2025 into 2026, the Trustees will continue to manage the workings of the Trust to ensure that it is fit for purpose and to secure the future of BACT and Wake House for the people of Bourne and the surrounding villages.

For details of room rates and availability please either e-mail enquiries@wakehouse.org.uk , telephone on 01778 782224 or visit our website at www.wakehouse.org.uk

Fundraising activities

The charity does not carry out significant fundraising activities.

FINANCIAL REVIEW

Financial overview

We made an operational deficit within unrestricted funds of £8,941 in 2024-25 compared to a £16,136 deficit in 2023-24. This results in unrestricted reserves of £95,766.

Although a deficit, this year was a significant improvement on the previous year.

Rental income was £66,572 which was an increase of £14,750 against year ending April 2024.

Fundraising events, such as monthly Bingo have taken place over the year and these have made a welcome contribution. The uptake of craft stalls at the Christmas Fayre, was a particular success. A £2000 grant was received from the Bourne Roundtable which was used towards the cost of replacing the CCTV system. Hegarty Solicitors have nominated BACT as their charity of the year and have made several donations in the year.

The BACT Business Plan has been reviewed and updated.

Savings have been made in the following areas:-

The main contributary factors to increased overhead costs are as follows:-

7

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees for the Year Ended 30 April 2025

FINANCIAL REVIEW - continued

Throughout the year the Trust has monitored its expenditure closely to ensure that only necessary costs were incurred.

The funds of the charity are held with Lloyds TSB.

All accounts are available to the public at the Annual General Meeting, the Charity Commission and Companies House.

Reserves policy

The Trust is reliant on having sufficient cash available to meet its commitments which are to keep the building open and well maintained as well as to manage the building in such a way that its tenants can use the building safely.

To enable this, the Trust will seek to maintain cash reserves that are sufficient to fund six months of the building operational expenditure and to fund any urgent works due to be commissioned within twelve months.

Operating expenditure for a six month period has been estimated based on the actual results for the year ended 30 April 2025 and amount to £41,760. The unrestricted reserve as at 30 April 2025 amounted to £95,766 which the Trustees consider to satisfy the reserves policy.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements.

8

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees for the Year Ended 30 April 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document and constitution

The company was incorporated on 21 April 1999 and was registered as a charity on 22 March 2000.

The organisation is a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association dated 21 April 1999 and amended by special resolutions dated 10 November 1999 and 15 March 2000.

Administration

The administration of the charity conforms to the provisions of its constitution by a Board who are the Charity Trustees.

Trustees

The number of Trustees shall not be less than three but (unless otherwise determined by ordinary resolution) shall not be subject to a maximum.

Membership

At the Annual General Meeting one-third of the Trustees who are subject to retirement by rotation or, if their number is not three or a multiple of three, the number nearest to one third shall retire from office; but, if there is only one trustee who is subject to retirement by rotation, he or she shall retire.

Subject to the provisions of the Act, the Trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment, but as between persons who became or were last reappointed Trustees on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot.

If the Charity at the meeting at which a Trustee retires by rotation, does not fill the vacancy the retiring Trustee shall, if willing to act, be deemed to have been reappointed unless at a meeting it is resolved not to fill the vacancy or unless a resolution for the reappointment of the Trustee is put to the meeting and lost.

Key management remuneration

The board of directors, who are the trustees, comprise the key management personnel of the charity, in charge of directing and controlling, running and operating the charity on a day-to-day basis. All directors give their time freely and no director receives remuneration.

9

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees for the Year Ended 30 April 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1079939

Registered Company number

03755942

Registered office

Wake House 41 North Street Bourne Lincolnshire PE10 9AE

Trustees and Directors

Martin Neil Siddle David Leslie James Alan Edwin Mear Ann Wakeford James Campbell Rae Martin David Adkins Sallyanne Elizabeth Fulcher Pamela Hallas Roger Baldwin Roy Miskelly

(Chair of Trustees)

(appointed 25 April 2025)

(appointed 23 September 2025) (resigned 31 January 2025) (resigned 10 November 2025) (resigned 31 March 2025)

Independent Examiner

SAB Accountancy Services Ltd 102 Hamstead Road Great Barr Birmingham B43 5BN

Bankers

Lloyds Bank Plc Po Box 1000 BX1 1LT

10

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Report of the Trustees for the Year Ended 30 April 2025

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees (who are also the directors of Bourne Arts and Community Trust Limited for the purposes of company law) are responsible for preparing the report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which 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 the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

In so far as the trustees are aware:

Approved by order of the board of trustees on 18 February 2026 and signed on its behalf by:

Martin Siddle Trustee

11

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

Independent Examiner’s Report to the Trustees of BOURNE ARTS AND COMMUNITY TRUST LIMITED ('the Company')

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 April 2025.

Responsibilities and basis of report

As the charity trustees of the Company (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 Company 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:

2) the accounts do not accord with those records; or

3) 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

4) 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 (FRS102).

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.

Steven Breese ACMA, CGMA SAB Accountancy Services Ltd 102 Hamstead Road Great Barr Birmingham B43 5BN

19 February 2026

12

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Statement of Financial Activities

(Incorporating an Income and Expenditure Account)

2025
2025
Unrestricted
Restricted
funds
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
1,742
-
Charitable activities
Charitable activities
3
71,803
70,063
Other trading activities
4
1,032
-
Total
74,578
70,063
EXPENDITURE ON
Charitable activities
Charitable activities
5
83,519
3,230
Total
83,519
3,230
Net income / -expenditure
8,941
-
66,833
Transfers between funds
4,800
4,800
-
Net movement in funds
4,141
-
62,033
RECONCILIATION OF FUNDS
13
Total funds brought forward
99,908
4,800
TOTAL FUNDS CARRIED FORWARD
95,766
66,833		 2025
Total
funds
£
1,742
141,866
1,032
144,641
86,749
86,749
57,892
-
57,892
104,708
162,599		 2024
Total
funds
£
1,376
58,537
2,478
62,391
78,527
78,527
16,136
-
-
16,136
-
120,844
104,708

CONTINUING OPERATIONS

The statement of financial activities includes all gains and losses recognised during the year. All incoming resources and resources expended derive from continuing activities.

13

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Balance Sheet At 30 April 2025

2025
2025
Unrestricted Restricted
funds
funds
Notes
£
£
FIXED ASSETS
Tangible assets
9
33,414
-
CURRENT ASSETS
Debtors
8
3,937
-
Cash at bank and in hand
71,575
66,833
75,512
66,833
CREDITORS
Amounts falling due within one year
7
13,160
-
NET CURRENT ASSETS/-LIABILITIES)
62,352
66,833
TOTAL ASSETS LESS CURRENT
LIABILITIES
62,352
66,833
NET ASSETS
95,766
66,833
FUNDS
13
Unrestricted funds
95,766
-
Restricted funds
-
66,833
95,766
66,833		 2025
Total
funds
£
33,414
3,937
138,408
142,345
13,160
129,186
129,186
162,599
95,766
66,833
162,599		 2024
Total
funds
£
47,687
1,781
65,362
67,143
10,122
57,020
57,020
104,708
99,908
4,800
104,708

For the year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Responsibilities of directors/trustees:

……...continued on next page

14

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Balance Sheet At 30 April 2025

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner.

The financial statements were approved by the Board of Trustees and authorised for issue on 18 February 2026 and were signed on its behalf by:

Martin Siddle Trustee

15

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements for the Year Ended 30 April 2025

1 ACCOUNTING POLICIES

Status of the company

The charitable company is limited by guarantee and does not have share capital. The liability of members is limited to £1 per member. Any surplus on winding up is to be donated to a charity whose objects are of a similar nature.

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 ' The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then the income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Income from grants, whether 'capital' grants or 'revenue' grants, is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Income from trading activities includes income earned from coffee sales, fundraising events and other trading activities. Income is received in exchange for supplying goods and services, in order to raise funds and is recognised when entitlement has occurred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

16

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements for the Year Ended 30 April 2025

1 ACCOUNTING POLICIES - continued

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to a particular heading they have been allocated to activities on a basis consistent with the use of resources. Expenditure is classified under the following heading:

Expenditure on charitable activities comprise the direct costs of activities undertaken to further the purposes of the charity, including grants payable and all associated support costs.

Expenditure on raising funds comprise the costs of commercial trading.

Irrecoverable VAT is charged as a cost against the activity for which expenditure was incurred.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure of the objects of the charity. Where support costs cannot be fully attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with the use of resources.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be estimated or measured reliably. Creditors and provisions are normally recognised at their settlement amounts after allowing for any trade discounts due.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

17

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements for the Year Ended 30 April 2025

1 ACCOUNTING POLICIES

Taxation

Bourne Arts and Community Trust Limited meets the definition of charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Depreciation

Depreciation is calculated so as to write off the cost of each asset, less its residual value, over its estimated useful economic life. The depreciation charge recognised each year relates to the class of the asset, the rates and classes are as follows:

Leasehold Improvements - 12.5% Reducing Balance Plant & Machinery - 25% Reducing Balance

TRUSTEES REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2025 nor the year ended 30 April 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 April 2025 nor the year ended 30 April 2024 except for the reimbursement of reasonable out of pocket expenses.

Statement of Cash Flows

The charity has taken advantage of the exemption in FRS 102 (January 2022) from the requirement to prepare a Statement of Cash Flows on the grounds that it is a small charity and its gross income for the reporting period did not exceed £500,000.

18

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements for the Year Ended 30 April 2025

2 DONATIONS AND LEGACIES

Unrestricted
Funds
£
Donations
1,742
CHARITABLE ACTIVITIES
Unrestricted
Funds
£
Grants
2,000
Room hire
66,572
Events
3,232
71,803
OTHER TRADING ACTIVITIES
Unrestricted
Funds
£
Coffee sales
848
Other trading activities
185
1,032		 Restricted
Funds
£
-
Restricted
Funds
£
70,063
-
-
70,063
Restricted
Funds
£
-
-
-		 Total
2025
£
1,742
Total
2025
£
72,063
66,572
3,232
141,866
Total
2025
£
848
185
1,032		 Total
2024
£
1,376
Total
2024
£
4,000
51,822
2,715
58,537
Total
2024
£
978
1,500
2,478

3 CHARITABLE ACTIVITIES

4 OTHER TRADING ACTIVITIES

19

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements for the Year Ended 30 April 2025

5 CHARITABLE ACTIVITES EXPENDITURE

Unrestricted
Funds
£
Insurance
616
Depreciation
14,273
Cleaning
483
Sundry
1,046
Bad Debt Provision
1,111
-
Utilities
12,799
Gross Wages, NI & pensions
29,722
Event costs
377
Rent
6,687
Waste disposal
1,067
Travel & subsistence
633
Consultancy
3,629
Office Costs
3,575
Repairs, renewals & maintenance
8,224
Support costs
Accountancy
1,500
83,519		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
3,230
-
-
-
3,230		 Total
2025
£
616
14,273
483
1,046
1,111
-
12,799
29,722
377
6,687
1,067
633
6,859
3,575
8,224
1,500
86,749		 Total
2024
£
1,554
15,463
1,306
235
-
5,677
28,791
889
5,675
775
451
-
4,133
13,579
-
78,527

6 STAFF COSTS AND ASSOCIATED EXPENSES

Wages and salaries
Social security costs
Other pension costs
The average number of employees during the year was as follows:
Full time
Part time		 Total
2025
£
29,248
-
475
29,722
0
4
4		 Total
2024
£
28,358
-
433
28,791
0
4
4

No employee received emoluments in excess of £60,000

The key management personnel of the charity comprise of the Trustees. Trustees receive no remuneration or other benefits from the charity.

20

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements

for the Year Ended 30 April 2025

7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Accruals
Provisions for bad debts
Social security and other taxes
8
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors		 Total
2025
£
1,840
9,728
1,443
149
13,160
Total
2025
£
3,937		 Total
2024
£
1,065
5,707
2,500
851
10,122
Total
2024
£
1,781

9 TANGIBLE FIXED ASSETS

Leasehold
Improvements
Cost
£
At 1 May 2024
109,193
Additions
-
Disposals
-
At 30 April 2025
109,193
Depreciation
At 1 May 2024
62,022
Disposals
-
Charge for the year
13,757
At 30 April 2025
75,779
Net Book Value
At 30 April 2025
33,414
At 30 April 2024
47,171		 Plant &
Machinery
£
16,684
-
-
16,684
16,168
-
517
16,684
-
517		 Total
£
125,877
-
-
125,877
78,190
-
14,273
92,463
33,414
47,687

21

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements for the Year Ended 30 April 2025

10 CONTROLLING INTEREST

The Charity is controlled by its Trustees.

11 COMMITMENTS

The total future minimum lease payments under non-cancellable operating leases are as follows:

Expiring:
Within one year and five years
Lease Commitments- other disclosures		 Total
2025
£
-		 Total
2024
£
-

The charity occupies premises under a lease agreement where rent is payable at 10% of turnover generated from the premises. There is no minimum rent payable under the lease. Accordingly, the charity has no minimum lease commitments to disclose at the balance sheet date.

The charity is responsible for insurance and repairs relating to the premises; however these costs are variable and cannot be reliably quantified in advance.

12 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
Funds
£
Fixed assets
33,414
Current assets
75,512
Current liabilities
13,160
-
Total funds
95,766		 Restricted
Funds
£
-
66,833
-
66,833		 Total
2025
£
33,414
142,345
13,160
-
162,599		 Total
2024
£
47,687
67,143
10,122
-
104,708

22

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements for the Year Ended 30 April 2025

13 MOVEMENT IN FUNDS

Balance at
beginning
of year
£
UNRESTRICTED FUNDS
General funds
General Fund
99,908
Total Unrestricted funds
99,908
RESTRICTED FUNDS
South Kesteven District Council
4,800
National Lottery Heritage Fund
-
Total Restricted funds
4,800
TOTAL FUNDS
104,708		 Income
£
74,578
74,578
-
70,063
70,063
144,641		 Exp-
enditure
£
83,519
83,519
-
3,230
3,230
86,749		 Transfers
between
funds
£
4,800
4,800
4,800
-
-
4,800
-
-		 Balance
at end of
year
£
95,766
95,766
-
66,833
66,833
162,599

General fund - This relates to the unrestricted incomings and outgoings at Wake House. The charity can utilise general funds at the discretion of the Trustees in line with the charity's charitable objectives.

Funds from South Kesteven District Council were awarded for the purpose of improving the building by installing LED lighting at Wake House

Funds awarded by he National Lottery Heritage Fund are for the purpose of undertaking preparations for the completion of the restoration of Wake House as well as to significant improve accessibility to the building for wheelchair users and parents with pushchairs (a further application will be needed for funding to actually carry out the restoration and improvement work).

23

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements

for the Year Ended 30 April 2025

14 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2024

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Other trading activities
Total
EXPENDITURE ON
Charitable activities
Charitable activities
Total
Net income / -expenditure
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Un-
restricted
funds
£
1,376
58,537
2,478
62,391
78,527
78,527
16,136
-
-
16,136
-
116,044
99,908		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
4,800
4,800		 2024
Total
funds
£
1,376
58,537
2,478
62,391
78,527
78,527
16,136
-
-
16,136
-
120,844
104,708

24

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements for the Year Ended 30 April 2025

15 COMPARATIVE BALANCE SHEET FOR THE YEAR ENDED 30 APRIL 2024

2024
2024
Unrestricted Restricted
funds
funds
£
£
FIXED ASSETS
Tangible assets
47,687
-
CURRENT ASSETS
Debtors
1,781
-
Cash at bank and in hand
60,562
4,800
62,343
4,800
CREDITORS
Amounts falling due within one year
10,122
-
NET CURRENT ASSETS/-LIABILITIES)
52,220
4,800
TOTAL ASSETS LESS CURRENT
LIABILITIES
99,908
4,800
NET ASSETS
99,908
4,800
FUNDS
Unrestricted funds
99,908
-
Restricted funds
-
4,800
99,908
4,800		 2024
Total
funds
£
47,687
1,781
65,362
67,143
10,122
57,020
104,708
104,708
99,908
4,800
104,708

25

REGISTERED COMPANY NUMBER: 03755942 (England and Wales) REGISTERED CHARITY NUMBER: 1079939

BOURNE ARTS AND COMMUNITY TRUST LIMITED

Notes to the Financial Statements for the Year Ended 30 April 2025

16 COMPARATIVE MOVEMENT IN FUNDS FOR THE YEAR ENDED 30 APRIL 2024

Balance at
beginning
of year
£
UNRESTRICTED FUNDS
General funds
General fund
116,044
Total Unrestricted funds
116,044
RESTRICTED FUNDS
South Kesteven District Council
4,800
Total Restricted funds
4,800
TOTAL FUNDS
120,844		 Income
£
62,391
62,391
-
-
62,391		 Exp-
enditure
£
78,527
78,527
-
-
78,527		 Transfers
between
funds
£
-
-
-
-
-		 Balance
at end of
year
£
99,908
99,908
4,800
4,800
104,708

17 RELATED PARTY TRANSACTIONS

There were no transactions with related parties for the year ended 30 April 2025, nor for the year ended 30 April 2024.

26