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2021-03-31-accounts

Company no. 04023294 Charity no. 1081691

Eastside Community Trust Report and Unaudited Financial Statements

31 March 2021

Eastside Community Trust

Reference and administrative details

For the year ended 31 March 2021

Company number 04023294
Charity number 1081691
Registered office and Easton Community Centre
operational address Kilburn Street
Bristol
BS5 6AW
Trustees Trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows:
Amy Harrison Vice chair
Alice Ballantine Dykes
Amanda Watson
Andy Burkitt Vice chair
Damon Rand
Emmanuel Maunganidze Elected as chair September 2020
Joyce Clarke
Margaret Hickman
Noelle Rumball
Ricardo Sharry Chair to August 2020
Saed Ali
Sally Caseley
Zoe Sheriff
Key staff Stacy Yelland Chief Executive Officer - 2021
Tom Williams Business and Services Development
Manager - 2021
Brendan Wistreich Up Our Street Director - 2020
Tracy Parsons Finance and HR Manager - 2021
Bankers CAF Bank Limited Unity Trust
25 Kings Hill Avenue 4 Brindley Place
Kings Hill Birmingham
West Malling B1 2JB
Kent, ME19 4JQ
Hampshire Trust (closed as of 3 February 2021)
131 Finsbury Pavement
London EC2A 1NT
Redwood Bank Shawbrook Bank Limited
The Nexus Building Lutea House, Warley Hill Business Park
Broadway Great Warley
Letchworth Garden City Brentwood
Hertfordshire, SG6 3TT Essex, CM13 3BE

1

Eastside Community Trust

Reference and administrative details

For the year ended 31 March 2021

Auditors Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol, BS1 4QD

2

Eastside Community Trust

Report of the trustees

For the year ended 31 March 2021

The trustees present their report along with the financial statements of the charity for the year ended 31 March 2021.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2015).

Objectives and activities

The charity is serving the wards of Easton and Lawrence Hill, particularly the neighbourhoods of Easton, Lawrence Hill, Old Market, St Judes, Newtown, Whitehall, Greenbank, Redfield, The Dings and Barton Hill. The objects for which the Charity is established are:

Public benefit statement

The trustees have complied with their duty under Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

Related parties

Eastside Community Trust has developed relationships and formal partnerships to deliver joint projects with other voluntary and community sector parties, public sector bodies, social enterprises including but not limited to the following:

ACH, BCfm, Black South West Network, Brigstowe, Bristol Green Capital Partnership, Bristol Bath Regional Capital, Bristol City Council, Bristol Somali Youth Voice, Bristol Waste, Horn Youth Concern, LifeCycle UK, Locality, InBetween Times, Raised in Bristol, Somali Kitchen, Trinity Centre, University of Bristol, Voscur and Wellspring Settlement.

Our vision

Our vision is to create a place of possibility for everyone.

A place

3

Eastside Community Trust

Report of the trustees

For the year ended 31 March 2021

As an organisation we are driven by our shared values and a desire to achieve three fundamental long-term impacts:

Achievements and performance Our aims

Activities - April 2020-March 2021

This year has been dominated by three key issues for Eastside Community Trust:

Charity merger

On 6 May 2020 we completed a three charity merger. The legal mechanism for this work was that Easton Community Centre and Felix Road Adventure Playground transferred assets and liabilities to Eastside Community Trust which retains the same charity and company number. Staff from the two organisations were TUPE’d across as of 7 May 2020. During 20/21 we have been focused on the organisational integration, aligning our systems processes and culture in particular our IT, financial management, budget, policies and governance.

4

Eastside Community Trust

Report of the trustees

For the year ended 31 March 2021

The Strategic Board for the new organisation is made up of members from the previous three charities who wished to remain involved, 12 people decided to continue in the new organisation. Those who decided to step down volunteered to remain engaged through a number of sub committees looking at thematic areas for development which ran for the first half of the year before launching our membership. During 20/21 we began the process for winding down the charities and companies of Easton Community Centre and Felix Road Adventure Playground. We also recruited a new chair to lead the organisation as we felt bringing a new neutral person would aid the integration process.

Capital build – Raised in Felix Road

We completed the building of our 60-place nursery in October 2020, following delays as a result of the lockdown. We are in a long term partnership with Raised in Bristol CIC to run an early year’s provision from the building on a ten year lease. The nursery opened in a temporary space in August 2020 to accommodate demand before being able to open in the new site in November. The nursery is due to be at full capacity by 2023 and is contributing to both the financial sustainability of the organisation through rent and profit share, as well as the social impact through providing high quality childcare to local working parents.

COVID-19

This has been the dominating feature of the year, with our normal services suspended, our sites closed and staff on furlough. The impact has been felt in a number of ways:

However we have seen an amazing community response and have been able to support families with direct interventions including:

5

Eastside Community Trust

Report of the trustees

For the year ended 31 March 2021

4 older people were referred to Eastside Community Trust via Brunel Care;

6 families were referred to Eastside Community Trust via the Somali Kitchen project;

12 trays of vegetable and winter hampers were delivered to older people in the Dings; 16 families in the Dings received food, of those 9 received tinned food and 5 received vegetable boxes; and

14 volunteers supported the packing and delivery of the winter hampers including Thangam Debbonaire, MP for the area and 2 members of her administration team.

Membership development

An aspiration of the merger was to grow community ownership and leadership in the organisation and in October 2020 we launched our new membership with our first member’s event before Christmas. We currently have 153 members and intend on developing this further in 21/22 introducing member events and decision making opportunities for members.

Other projects

Adventure Playground – the playground opened in summer trialling limited numbers on site and has been managing the risk of Covid-19 whilst ensuring children have the opportunity to play. This year we also launched the Fun Kids Podcast, helping children share how they think, feel, see and dream their world. The playground has around 900 children on the register.

Site redevelopment – thanks to grant funding we were able to tender for £70,000 of improvement works for play structures on the playground. We carried out a competitive tendering process and Woodland Tribe were the successful company with works taking place during the Jan-Mar lockdown ready for reopening at Easter. This included an outdoor classroom, hanging garden, allotments and sensory garden.

6

Eastside Community Trust

Report of the trustees

For the year ended 31 March 2021

Kitchen – While our kitchen had to remain closed for the majority of 20/21 year due to Covid-19 restrictions, we were pleased that Food at Felix reopened at Christmas, providing much needed hot food for families during the school holidays. We have been serving on average 40 hot meals a day, six days a week since we reopened in April 2021. Over the period of the pandemic the food insecurity of children in the area has become clear. We have been spending time revamping our food offer and thinking about nutrition, pricing and our role in supporting families to access affordable, healthy food.

Communications – we continue with our annual programme of Up Our Street communications including:

This year also saw us launch a new name and brand identify following the merger with a host of new brand icons and logos and a new website www.eastsidecommunitytrust.co.uk

Community centre – the centre has been closed to the public but our tenants have been accessing the building so we have been open. This has also been the community hub for Easton supporting Bristol City Council. Raised in Easton has been providing childcare for parents, Café des Amis has been providing the catering for the nursery and BCfm has been broadcasting throughout. We have taken the opportunity to make improvements to the building while it has been closed including ensuring a Covid-19 safe working environment. We gave the site a major spring clean and clear out, painted the main hall and replaced the old broken flooring. We carried out electrical works required following a fire in 2019, upgraded the external lighting and fixed ongoing drainage and plumbing issues.

Sustainability – our community centre is now fossil fuel free following upgrades made this year. We get our heat and electric from our Microgrid in partnership with Owen Square Community Energy. We had two remaining gas sources in the building – the café and the nursery. The nursery boiler was very old and needed replacing and broke down. Thanks to a grant from Megawatt we replaced the gas boiler with a new electric boiler and changed the café cooker from gas to electric, achieving our target of being a zero carbon building. We also put together a Sustainability Policy setting out our aspirations around the impact of our organisation.

Community development

Alongside supporting the community during the pandemic, we maintained some of our core projects albeit:

Lottery Placemakers

This project was running with three Placemakers in post covering The Dings, Newtown and St Judes in the previous financial year, two staff members left the organisation and we were unable to recruit during the pandemic.

Our Placemaker in The Dings continued throughout the year doing excellent work supporting residents during the lockdown. We paused the remaining elements of the project and are agreeing a variation to this project with the Lottery for 21/22.

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Eastside Community Trust

Report of the trustees

For the year ended 31 March 2021

Bristol Impact Fund

We carried out a number of conversations online and supported residents with projects around Owen Square Park but the bulk of this project was spent project managing our Covid-19 response support.

Climate Action Fund

The focus for this has been preparation with other partners on our delivery and establishing shared systems for evaluation and development of the climate action plan. On the ground delivery of this work will begin in 21/22.

CLORS – food and future

Thanks to this funding we have been able to develop some internal systems and processes for capturing data about our activity and turning this into the story of our impact. It also enabled the development time to review reopening our kitchen in a Covid-19 safe manner but also revamping our approach to nutrition.

This year we suspended some of our regular activity due to the pandemic, in particular:

Our premises

Avonvale Road retail units - we own a long lease on four shop units on Avonvale Road as part of the long-term business plan for the organisation. All four shops are rented to small businesses.

Easton Community Centre - we hold a 30-year lease for the community centre, a busy hub offering affordable meeting and office spaces with a café, nursery and community radio station.

Felix Road Adventure Playground – we hold a 30-year lease for the land, providing children in East Bristol with the space to connect with nature and freedom for outside physical play.

Raised in Felix Road – we built a 60-capacity nursery building on the site of the adventure playground. This was leased to Raised in Bristol on a ten year lease from November 2020 to run an early years provision.

Impact of Covid-19

Project delivery – meeting our charitable objects

We were able to repurpose our projects and staff team to meet the immediate needs in our community. Our funders were understanding and generous in their support of this. We have been following government guidance around the restrictions on our activity and changing our delivery accordingly. During our weekly Senior Management Team we consider Covid-19 risks, impacts and mitigations.

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Eastside Community Trust

Report of the trustees

For the year ended 31 March 2021

Staff

Most of our staff remained working throughout with a mixture of home working and in office working. We have had weekly check-ins with staff around health and wellbeing and have had no reported cases of Covid-19. The team have reported feeling well supported and have the systems in place to do their work. As of 1 April 2021 all staff returned to working with a combination of home and community working. We have produced Covid-19 specific risk assessments for our sites and activity and communicate weekly with the team around any changes or concerns.

Governance

The board has been meeting monthly throughout the year to keep oversight on the main risks posed by Covid-19.

Structure, governance and management

Eastside Community Trust is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. It is the successor organisation of Community at Heart which was incorporated on 28 June 2000, and merged with charities Easton Community Centre and Felix Road Adventure Playground on 6 May 2020. The charity officially changed its name on 12 September 2020. It is registered under charity number 1081691 and company number 04023294.

Following our merger we have been systematically reviewing our policies and procedures to ensure they are best practice and fit for purpose for the new organisation. We are in the process of replacing our handbooks with a set of standalone policies which can accessed by all staff. Policies are written by the Chief Executive Officer and Finance & HR Manager, and approved and adopted at trustee meetings.

Recruitment and appointment of trustees

The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the trustees are elected by the members at the Annual General Meeting. Any trustee not re-elected will be deemed to have resigned from the Board.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 8 to the accounts.

Trustees are required to disclose all relevant interests and register them with the CEO and, in accordance with the charity’s policy, withdraw from decisions where a conflict of interest arises.

In September 2020 we advertised externally and recruited a new chair, Emmanuel Maunganidze, to oversee the newly merged organisation. He was appointed by trustees and ratified by members at the AGM in October 2020.

Trustee induction and training

New trustees undergo orientation to brief them on their legal obligations under charity and company law, the charity commission guidance on public benefit, content of the Articles of Association, the committee and decision-making processes and the business plan. During the induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

9

Eastside Community Trust

Report of the trustees

For the year ended 31 March 2021

Risk management

The organisation has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is reviewed at each trustee meeting. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.

Financial

The 20/21 financial year was unusual for a number of reasons for us and we have been having weekly finance meetings to plot the short, medium and long term financial health of the organisation and actions to address this. In February 2020 we began working with a financial consultant to help us with the longer term planning and budget setting. Our Senior Management Team hold meetings weekly to review this. Throughout the pandemic we maximised the available support including grants from DMCS, government grants, furlough and redundancy / reducing staff hours.

Financial review

We have communicated with funders who have supported our use of their funds during this period. Our board is regularly reviewing the financial forecast and senior management reviews this weekly. We are confident we are a going concern for the coming 12 months, during which time we can review expenditure and continue fundraising.

Asset policy

Individual assets costing £2,500 or more are capitalised at cost. Depreciation is calculated so as to write off the cost of an asset over the useful life of that asset.

Investment policy

Under the memorandum and articles of association, the charity has the power to make any investments that the trustees see fit. Having considered the options available, the trustees decided to invest reserves in fixed term savings accounts. The trustees consider the overall return on investments and deposits together.

Reserves policy

Eastside Community Trust is the merger of three organisations whose financial health needed improving. The vision of the merger was that the combination of the three brought new skills, opportunities and potential for greater resilience, financial sustainability, charitable impact and growth.

The trustees and Senior Management Team have been developing a three to five year strategy to reach this goal of financial sustainability. We have made investments in the long term future with this in mind and recognised that this upfront investment would mean a few years of more challenging budgets. The pandemic increased that challenge but we managed to have a successful year in grant fundraising to cover the shortfall caused by Covid-19. We were, however, unable to implement plans around business development and growth which are delayed now but remain the focus for 21/22.

10

Eastside Community Trust

Report of the trustees

For the year ended 31 March 2021

The balance held as funds of the charity less liabilities at 31 March 2021 was £954,902. The funds available to the charity are £954,902 less restricted of £295,936 and less fixed assets values of £589,373 which leaves £69,593. The 2021-2022 budget includes £280,400 of unrestricted expenditure and therefore the trustees have set a free reserves target range of £200,00-250,000. The current reserves level is therefore lower than is needed and this will be addressed by a focus on reducing expenditure and increasing self generated traded income. The trustees will focus on producing a budget with a surplus in unrestricted funds year on year. They are working with an external consultant and the CEO to develop a five year plan which includes income as a result of profit share from two Raised in Bristol nurseries. The profit share will increase as our loan debt decreases, resulting in an increases in unrestricted income and free reserves.

Fraud

During the process of this audit, a missing sum was uncovered in the balance of funds from Easton Community Centre to Eastside Community Trust. Upon investigation, it was discovered that the organisation had been the victim of a complex fraud and a much greater sum was in fact missing than originally identified. The funds were taken by exploitation of a loop hole in the charity bank account which held reserves. At the time of writing these accounts the matter is being investigated by the police. The period of the fraud was between 2016 and 2020 and was not uncovered earlier due to the nature of the fraud and production of faked bank statements.

There has been a number of actions taken as a result of the fraud. The accounts for 2020-2021 year have been restated to show the true funds available once the stolen sum has been accounted for. The crime is under investigation by the complex fraud team of the police and steps are being taken to see if any of the funds can be recovered by either the bank, the police or through insurance. The finances of the charity have been impacted in a reduction of free reserves. Restricted income is unaffected and no grant funding has been impacted. There has been no impact on operational delivery because the funds taken represented reserves. The trustees are undertaking a governance review and restructure as well as an overhaul of finance policy and procedures with an external consultant. We have outsourced payroll and bookkeeping to increase checks and balances and updated all bank mandates and authorisations. While this has had a significant impact on the team and board and a great deal of remedial work is being undertaken.

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (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 charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:

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Eastside Community Trust

Report of the trustees

For the year ended 31 March 2021

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditors / Independent examiners

Godfrey Wilson Limited were appointed as auditors to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 14 October 2021 and signed on their behalf by

Emmanuel Maunganidze

12

Independent auditors' report

To the members of

Eastside Community Trust

Opinion

We have audited the financial statements of Eastside Community Trust (the 'charity') for the year ended 31 March 2021 which comprise the statement of financial activities, balance sheet and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Report by exception

We draw attention to note 18 in the financial statements, which discloses a fraud identified during the course of the audit. The fraud covers the period 2016 to 2021 and had been disclosed as an extraordinary item in 2021 and as an extraordinary item and adjustment to general funds in 2020. Our opinion is not modified in respect of this matter.

Emphasis of matter

The prior year financial statements, not audited, but previously independently examined have been restated as per note 19 in the financial statements to record the extraordinary item as per note 18 in the financial statements. Our opinion is not modified in respect of this matter.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

13

Independent auditors' report

To the members of

Eastside Community Trust

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

14

Independent auditors' report

To the members of

Eastside Community Trust

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

(2) We reviewed the charity’s policies and procedures in relation to:

(3) We inspected the minutes of trustee meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

▪Testing transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

15

Independent auditors' report

To the members of

Eastside Community Trust

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charityʼs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charityʼs members those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed.

Date: 14 October 2021

Rob Wilson FCA Senior Statutory Auditor

For and on behalf of:

GODFREY WILSON LIMITED

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

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Eastside Community Trust

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2021

Restricted Unrestricted
Note
£
£
Income(and endowments) from:
Donations and legacies
3
147,618
224,893
Charitable activities
4
566,590
163,369
Other trading activities
5
-
8,832
Investments
-
3,813
Total income(and endowments)
714,208
400,907
Expenditure on:
Raising funds
-
132,455
Charitable activities
506,278
(13,009)
Total expenditure
7
506,278
119,446
Net income / (expenditure)
207,930
281,461
Extraordinary item
18
-
(5,767)
Transfers between funds
-
-
Net movement in funds
8
207,930
275,694
Reconciliation of funds:
Total funds brought forward
88,006
383,272
Total funds carried forward
295,936
658,966		 2021
Total
£
372,511
729,959
8,832
3,813
1,115,115
132,455
493,269
625,724
489,391
(5,767)
-
483,624
471,278
954,902		 Restated
2020
Total
£
3,235
255,977
16,419
13,896
289,527
69,800
220,903
290,703
(1,176)
(15,070)
-
(16,246)
487,524
471,278

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 16 to the accounts.

The 2020 comparatives have been restated as detailed in note 19 to the accounts.

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Eastside Community Trust

Balance sheet

As at 31 March 2021

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
13
Net current assets / (liabilities)
Total assets less current liabilities
Creditors: amounts falling due after more than 1 year
Net assets / (liabilities)
15
Funds
16
Restricted funds
Unrestricted funds
Designated funds
General funds
Total charity funds		 £
8,879
528,471
537,350
(68,182)		 2021
£
589,373
469,168
1,058,541
(103,639)
954,902
295,936
600,097
58,869
954,902		 Restated
2020
£
195,273
8,173
276,971
285,144
(9,139)
276,005
471,278
-
471,278
88,006
220,715
162,557
471,278

The directors acknowledge their responsibilities for:

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

Approved by the trustees on 14 October 2021 and signed on their behalf by

Emmanuel Maunganidze

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Eastside Community Trust

Statement of cash flows

For the year ended 31 March 2021

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
Decrease / (increase) in debtors
Increase / (decrease) in creditors < 1 year
Increase / (decrease) in creditors > 1 year
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of tangible fixed assets
Net cash provided by / (used in) investing activities
Increase / (decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2021
£
483,624
18,818
(3,813)
(706)
59,043
103,639
660,605
3,813
(412,918)
(409,105)
251,500
276,971
528,471		 2020
£
(16,246)
6,976
(13,896)
(533)
(2,726)
-
(26,425)
13,896
-
13,896
(12,529)
289,500
276,971

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

19

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Eastside Community Trust 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 note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. In spite of the fraud that has been uncovered, there are no material uncertainties about the charity’s ability to continue as a going concern. While the current level of unrestricted reserves is below the charity’s target range, it is taking measures to increase free reserves and is meeting regularly as a board and Senior Management Team alongside a business development consultant to monitor progress.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executors to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income received in advance of provision of a specified service is deferred until criteria for income recognition are met.

d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

20

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

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.

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

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

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities on the following basis:

2021 2020
Raising funds 26.0% 37.0%
Charitable activities 74.0% 63.0%

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Leasehold 40 years straight line
Nursery 20 years straight line
Playground 5 years straight line
Community Centre 20 years straight line

Items of equipment are capitalised where the purchase price exceeds £2,500.

21

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

j) Stock

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

k) 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.

l) Cash at bank and in hand

Cash at bank and cash 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.

m) Creditors

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 measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

n) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

o) Pension costs

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

p) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

q) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

22

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

Depreciation

As described in note 1h to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life.

2. Prior period comparatives: statement of financial activities

Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income / (expenditure)
Extraordinary item
Transfers between funds
Net movement in funds		 Restricted
£
£
-
3,235
199,127
56,850
-
16,419
-
13,896
199,127
90,400
-
69,800
143,886
77,017
143,886
146,817
55,241
(56,417)
-
(15,070)
-
-
55,241
(71,487)
Unrestricted		 2020
Total
£
3,235
255,977
16,419
13,896
289,527
69,800
220,903
290,703
(1,176)
(15,070)
-
(16,246)

23

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

3. Income from donations and legacies

3.
Income from donations and legacies
General Donations
Colcannon Donations (trusts and foundations)
Bristol City Council (COVID)
Bristol City Council Business Rates Relief Grant
HMRC CJRS
Felix Road Adventure Playground (merger donation)
Easton Community Centre (merger donation)
Total income from donations and legacies
Prior period comparative:
General Donations
Total income from donations and legacies
4.
Income from charitable activities
Café and Food sales
Printing and other admin
Nursery Profit Share
Rental and lease income
Service Charge income
Short term hire income
Grant / project income
Total income from charitable activities		 Restricted
£
£
-
12,451
-
16,750
-
22,000
-
25,094
-
48,587
100,224
75,162
47,394
24,849
147,618
224,893
Restricted
£
£
-
3,235
-
3,235
Restricted
£
£
-
46
-
172
-
169
-
114,288
-
8,958
-
4,390
566,590
35,346
566,590
163,369
Unrestricted
Unrestricted
Unrestricted		 2021
Total
£
12,451
16,750
22,000
25,094
48,587
175,386
72,243
372,511
2020
Total
£
3,235
3,235
2021
Total
£
46
172
169
114,288
8,958
4,390
601,936
729,959

24

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

Prior period comparative:
Service Charge income
Rental and lease income
Grant / project income
Total income from charitable activities		 2020
Restricted
Total
£
£
£
-
3,740
3,740
-
48,154
48,154
199,127
4,956
204,083
199,127
56,850
255,977
Unrestricted

5. Income from other trading activities

Advertising
Advertising subscriptions
Consulting income
Total income from other trading activities
Prior period comparative:
Advertising
Advertising subscriptions
Fundraising
Consulting income
Total income from other trading activities		 Restricted
£
£
-
4,726
-
2,580
-
1,526
-
8,832
Restricted
£
£
-
7,195
-
3,040
-
2,626
-
3,558
-
16,419
Unrestricted
Unrestricted		 2021
Total
£
4,726
2,580
1,526
8,832
2020
Total
£
7,195
3,040
2,626
3,558
16,419

6. Government grants

The charitable company receives government grants, defined as funding from Bristol City Council, HMRC, Department for Media and Culture (Power to Change, Social Enterprise Support, Community-Led Organisation Recovery) the National Lottery to fund charitable activities. The total value of such grants in the period ending 31 March 2021 was £361,697 (2020: £117,017). There are no unfulfilled conditions of contingencies attaching to these grants in the current or prior year.

25

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

7. Total expenditure

Staff costs (note 9)
Other employment costs
Accountancy
Bank charges
Rent
Repairs and maintenance
Insurance
Computer expenses
Subscriptions
Telephone and internet
Utilities
Advertising
Printing, postage and stationery
Professional and legal
Project expenses
Interest paid
Depreciation
Bad debts
Sub-total
Allocation of support and governance costs
Total expenditure		 Raising funds
£
102,040
-
-
-
-
-
-
-
-
-
-
3,300
-
-
-
-
-
-
105,340
27,115
132,455		 Charitable activities
£
259,349
-
-
-
-
-
-
-
-
-
-
-
-
2,969
153,776
-
-
-
416,094
77,175
493,269		 Support and
governance costs
£
-
1,567
3,773
345
-
22,069
8,561
16,531
3,356
2,836
15,614
-
2,057
3,950
-
1,453
18,818
3,360
104,290
(104,290)
-		 2021 Total
£
361,389
1,567
3,773
345
-
22,069
8,561
16,531
3,356
2,836
15,614
3,300
2,057
6,919
153,776
1,453
18,818
3,360
625,724
-
625,724

Total governance costs were £3,950 (2020: £869)

26

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

7. Total expenditure

Prior period comparative
Staff costs (note 9)
Other employment costs
Accountancy
Bank charges
Rent
Repairs and maintenace
Insurance
Computer expenses
Subscriptions
Telephone and internet
Utilities
Advertising
Printing, postage and stationery
Professional and legal
Project expenses
Interest paid
Depreciation
Bad debts
Sub-total
Allocation of support and governance costs
Total expenditure		 Raising funds
£
59,252
-
-
-
-
-
-
-
-
-
-
160
-
-
-
-
-
-
59,412
10,388
69,800		 Charitable
activities
£
100,889
-
-
-
-
-
-
-
-
-
-
-
-
1,442
100,883
-
-
-
203,214
17,689
220,903		 Support and
governance costs
£
-
289
-
257
6,383
2,136
2,815
4,818
525
2,344
-
-
665
869
-
-
6,976
-
28,077
(28,077)
-		 2020 Total
£
160,141
289
-
257
6,383
2,136
2,815
4,818
525
2,344
-
160
665
2,311
100,883
-
6,976
-
290,703
-
290,703

27

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

8. Net movement in funds

This is stated after charging:

Depreciation
Trustees' remuneration
Trustees' reimbursed expenses
Auditors' remuneration:
▪Statutory audit
▪Independent examination		 2021
£
18,818
Nil
-
3,950
-		 2020
£
6,976
Nil
-
-
869

9. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs
Freelance staff		 2021
£
313,910
15,327
16,112
16,040
361,389		 2020
£
142,363
8,242
9,659
(123)
160,141

No employee earned more than £60,000 during the year.

The key management personnel of the charitable company comprise the Trustees, Chief Executive Officer, Finance and HR Manager and Business Development Manager. The total employee benefits of the key management personnel were £106,386 (2020: £34,972).

Average head count 2021
No.
9.30		 2020
No.
6.90

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

28

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

11. Tangible fixed assets

Tangible fixed assets
Cost
At 1 April 2020
Merger donated assets
Additions in year
At 31 March 2021
Depreciation
At 1 April 2020
Merger donated assets
Charge for the year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Leasehold
£
279,057
-
279,057
83,784
-
6,976
90,760
188,297
195,273		 Nursery
£
-
116,293
172,377
288,670
-
-
7,217
7,217
281,453
-		 Playground
£
-
-
50,258
50,258
-
-
-
-
50,258
-		 Community
Centre
£
-
92,501
-
92,501
-
18,511
4,625
23,136
69,365
-		 Total
£
279,057
208,794
222,635
710,486
83,784
18,511
18,818
121,113
589,373
195,273

29

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

12. Debtors

Trade debtors
Other debtors		 2021
2020
£
£
8,779
7,689
100
484
8,879
8,173

13. Creditors : amounts due within 1 year

Trade creditors
Accruals
Other taxation and social security
Pension control account
VAT control account
Rent deposits
Loan - Andy Robb
Loan - Andy Street
Loan - Andy Street
Co-op Foundation Loan
Creditors : amounts due after 1 year
Loan - Andy Robb
Loan - Andy Street
Loan - Andy Street
Co-op Foundation Loan
Loan - Zoe Sheriff		 2021
£
21,405
4,170
(319)
847
2,946
3,033
7,800
7,800
8,000
12,500
68,182
2021
£
8,632
8,632
12,000
34,375
40,000
103,639		 2020
£
1,756
869
-537
570
3,448
3,033
-
-
-
-
9,139
2020
£
-
-
-
-
-

14. Creditors : amounts due after 1 year

30

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

15. Analysis of net assets between funds

Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Liabilities after one year
Net assets at 31 March 2021
Prior period comparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 March 2020		 £
-
295,936
-
-
295,936
£
-
88,006
-
88,006
Restricted
funds
Restricted
funds		 £
589,373
241,414
(68,182)
(103,639)
658,966
£
195,273
197,138
(9,139)
383,272
Unrestricted
funds
Unrestricted
funds		 Total
funds
£
589,373
537,350
(68,182)
(103,639)
954,902
Total
funds
£
195,273
285,144
(9,139)
471,278

31

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

16. Movements in funds

At 1 April
2020
Restricted funds
£
Active Travel Grant
-
BCC Parks
-
Capital Grants
-
Clothworkers
-
Easton Community Centre CIL
-
Felix Road Adventure Playground CIL
-
Garfield Weston
-
Climate Action Fund
-
Climate Action Fund Coproduction
-
CLORS
-
Co-op Expand
-
Quartet Endowment Fund
5,505
Everyday Integration
-
Feeding Bristol
-
Garfield Weston
-
Bristol City Council - Impact Fund
15,752
John James
-
Merchant Vent
-
Pavement works
-
Reaching Communities
20,004
Bristol Social Action Festival
11,695
CAF Corona Fund - spent
-
Catalyst Fund (inclusion worker)
-
Co-op Foundation
2,770
Co-op FRAP
-
Community Space
-
Covid 19 funds
-
Emergency Grants
-
Quartet Funding the Future
20,179
BCC - Imagination Fund
6,800
Lottery (Covid)
-
Megawatt Fund
-
Nisbets
-
Playground food support
-
Power to Change
-
SESF
-
Wham
-
WRAP project
5,301
St Monica Trust Community Impact
-
Triodos
-
Tudor Trust
-
Wing Chun
-
Youth Music
-
Youth Project
-
Total restricted funds
88,006		 Income
£
3,952
5,000
5,300
10,000
49,894
35,000
24,112
7,522
25,500
49,200
9,970
10,422
13,125
5,046
30,000
38,813
4,637
5,000
5,000
42,092
-
7,800
10,000
-
15,000
800
9,601
33,000
-
1,700
77,994
5,000
4,820
10,000
19,606
33,311
2,050
(5,072)
19,037
3,000
62,000
3,222
11,654
10,100
714,208		 £
-
(2,783)
-
(10,000)
(7,559)
(18,491)
(24,112)
(2,424)
(300)
(31,238)
-
(2,945)
(2,412)
(3,137)
(11,184)
(43,308)
(558)
(3)
(7,600)
(32,935)
(4,428)
(7,800)
(10,000)
(2,770)
(15,000)
(800)
(9,601)
(33,000)
(20,179)
(8,500)
(77,994)
(5,000)
(4,820)
(4,000)
(19,606)
(33,311)
(2,050)
(229)
-
-
(31,986)
(1,200)
(7,541)
(5,472)
(506,278)
Expenditure		 £
£
-
3,952
-
2,217
-
5,300
-
-
-
42,335
-
16,509
-
-
-
5,098
-
25,200
-
17,962
-
9,970
-
12,982
-
10,713
-
1,909
-
18,816
-
11,256
-
4,079
-
4,997
-
(2,600)
-
29,161
-
7,267
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6,000
-
-
-
-
-
-
-
-
-
19,037
-
3,000
-
30,014
-
2,022
-
4,113
-
4,628
-
295,936
Tfr btwn
funds
At 31 March
2021

32

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

16. Movements in funds (continued)

Restricted funds
Designated funds:
Capital fund
Avonvale Road Maintenance
Redundancy Reserve
Total designated funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds		 88,006
195,273
10,724
14,718
220,715
162,557
383,272
471,278		 714,208
-
-
-
-
400,907
400,907
1,115,115		 (506,278)
-
-
-
-
(125,213)
(125,213)
(631,491)		 -
394,100
-
(14,718)
379,382
(379,382)
-
-		 295,936
589,373
10,724
-
600,097
58,869
658,966
954,902

Purposes of restricted funds

Active Travel Grant – to provide a free family bike loan scheme

BCC parks – to provide community engagement support for Bristol Future Parks

Capital grants – upgrading Felix Road Adventure Playground structures and site

Clothworkers - upgrading Felix Road Adventure Playground structures and site

Easton Community Centre – Community Infrastructure Levy for capital improvements, bin store, lighting and bike store

Felix Road Adventure Playground – Community Infrastructure Levy - upgrading Felix Road Adventure Playground structures and site

Garfield Weston – support for admin staff for Felix Road Adventure Playground

Climate Action Fund – a community produced climate action plan

Climate Action Fund co-production – engagement work to produce a community climate action plan

CLORS – reopening Food at Felix, membership and evaluation development work

Co-op Expand – supporting parents at Kilburn Court

Quartet Endowment Fund – small grants scheme for local people

Everyday Integration – research project with University of Bristol on integration in the city

Feeding Bristol – food provision from Felix Road Adventure Playground over Christmas

33

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

16. Purposes of restricted funds (continued)

Garfield Weston - upgrading Felix Road Adventure Playground structures and site

Bristol City Council Impact Fund – community conversations and community development work

John James - upgrading Felix Road Adventure Playground structures and site

Merchant Venturers – support for youth sessions at Felix Road

Pavement works – widening pavement outside Felix Road

Reaching Communities – Placemakers project focused on reducing isolation and loneliness

Bristol Social Action – supporting council Can Do volunteer programme

CAF corona – supporting food hub

Catalyst – supporting specialist playworker at Felix Road with St Pauls Adventure Playground

Co-Op Foundation – support with community research

Co-Op FRAP – support with development of nursery

Community space – supporting Councillors with community conversations

COVID 19 funds – adaptations to building and emergency doorstep delivery service

Emergency grants – distributing small grants to resident in crisis

Quartet Funding the Future – staff time to complete merger and organisational development

Bristol City Council Imagination Fund – working with In Between Times on creative project bringing arts to the neighbourhood

Lottery COVID – emergency doorstop delivery service

Megawatt – new electric boiler for Raised in Easton

Nisbetts - upgrading Felix Road Adventure Playground structures and site

Playground food – providing free hot, nutritious meals to children at Felix Road

Power to Change – capital improvements at Easton Community Centre and COVID adaptations

SESF – core staff time to keep playground and community centre open

WHAM - supporting residents with energy home improvement advice

34

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

Purposes of restricted funds (continued)

WRAP – project reducing litter in the neighbourhood

St Monica – community project to reduce isolation and loneliness among older residents

Triodos – support for girls group at Felix Road

Tudor Trust – funding Service and Business Development staff capacity

Wing Chun – providing affordable martial arts from Felix Road

Youth Music – supporting playworker staff to engage children in music at Felix Road

Youth project/BYCA – supporting playworkers at Felix Road

Purposes of designated funds

Capital fund

Capital funds represents (i) the leasehold property and improvements which are designated on the basis that the underlying assets could not be sold by the charity; (ii) the nursery which may have a mortgage value but is built on our leasehold land. They have a value in use for the charity but no re-sale value.

Avonvale Road

This money represents rent deposits paid by tenants and annual contributions by tenants to a sinking fund ring fenced for maintenance and repairs for the retail units service yard. This sum is recorded in the leases on the properties.

35

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

16. Movements in funds (continued)

Prior period comparative
Restricted funds
Big Lottery Fund
Co-op Foundation
WRAP project
Quartet Funding the Future
Quartet Endowment Fund
Controlling Migration Fund
BCC - Impact Fund
BCC - Imagination Fund
Community Space
Bristol Social Action Festival
Reaching Communities
Total restricted funds
Designated funds:
Capital fund
Avonvale Road Maintenance
Redundancy Reserve
Total designated funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds		 At 1 April
2019
£
1,901
-
5,399
6,864
1,289
6,450
2,862
-
-
8,000
-
32,765
202,249
10,724
14,718
227,691
227,068
454,759
487,524		 Income
£
-
9,989
10,000
50,000
11,521
10,000
41,625
15,300
600
8,000
42,092
199,127
-
-
-
-
90,400
90,400
289,527		 £
(1,901)
(7,219)
(10,098)
(36,685)
(7,305)
(16,450)
(28,735)
(8,500)
(600)
(4,305)
(22,088)
(143,886)
-
-
-
-
(161,887)
(161,887)
(305,773)
Expenditure		 £
£
-
-
-
2,770
-
5,301
-
20,179
-
5,505
-
-
-
15,752
-
6,800
-
-
-
11,695
-
20,004
-
88,006
(6,976)
195,273
-
10,724
-
14,718
(6,976)
220,715
6,976
162,557
-
383,272
-
471,278
Transfers
between
funds
At 31 March
2020		 £
£
-
-
-
2,770
-
5,301
-
20,179
-
5,505
-
-
-
15,752
-
6,800
-
-
-
11,695
-
20,004
-
88,006
(6,976)
195,273
-
10,724
-
14,718
(6,976)
220,715
6,976
162,557
-
383,272
-
471,278
Transfers
between
funds
At 31 March
2020
88,006
195,273
10,724
14,718
220,715
162,557
383,272
471,278

36

Eastside Community Trust

Notes to the financial statements

For the year ended 31 March 2021

17. Related party transactions

Zoe Sherriff, trustee and director provided a loan of £40,000 to fund the development of the nursery at Felix Road. Zoe will receive interest of 2% on the loan in accordance with our constitution.

Woodland Tribe CIC was contracted through an open tender process to provide £68,000 of capital improvement works at Felix Road Adventure Playground. Tom Williams, an employee of Eastside Community Trust is also a Director of Woodland Tribe. Tom was not involved in the tender or recruitment process and did not carry out any paid work as part of this contract.

Alice Ballentine-Dykes, a trustee and director, was paid £690 to provide free bursary placements for women as part of her MAMA coaching programme.

Marg Hickman was a local Councillor during the period 2020-2021 and Eastside Community Trust was in receipt of council funding to the value of £68,313.

18. Extraordinary item

During the year a fraud was discovered that was carried out between 2016 and 2021. This is disclosed as an extraordinary item in 2021 and 2020 (by restating the comparative extraordinary item cost) and prior to 2020 (by restating the general funds b/fwd) as laid out in the table below.

Between July and August 2021 during the course of this audit, it was discovered that a sum of £6,001 could not be accounted for. On further investigation it came to light that the charity had been the victim of a fraud between July 2016 and December 2020. A police investigation and governance review are underway.

Fraud disclosed as exceptional item in 2021
Fraud disclosed as exceptional item in 2020 by restating comparatives
Fraud disclosed as reduction in general funds by restating comparatives		 £
5,767
15,070
79,636
100,473

19. Prior year adjustment

The prior year comparatives have been restated to account for the extraordinary item above and to introduce a designated capital fund. The capital fund has been introduced due to the significant capital spend during the year to enable readers of the accounts to clearly identify free reserves.

Funds b/fwd prior to adjustment
Introduction of capital reserve
Extraordinary item
Funds b/fwd after prior year adjustment		 General
funds
£
508,953
(202,249)
(79,636)
227,068		 Total
funds
£
567,160
-
(79,636)
487,524

37