GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
Trustees' Annual Report
and
Unaudited financial statements
For the year ended 31 December 2023
Company Number 3920493
Registered Charity Number 1085213
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
CONTENTS
| Pages | 1-3 | Trustees' Annual Report |
|---|---|---|
| 4 | Statement of Financial Activities | |
| 5 | Balance Sheet | |
| 6 | Statement of Cash Flows | |
| 7-10 | Notes to the Financial Statements |
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
Trustees' Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act, submit the annual report and the financial statements for the year ended 31 December 2023.
The trustees have adopted the provisions of the Statement of Recommended Practice - Accounting and Reporting by Charities (Financial Reporting Standard FRS102) in preparing the annual report and financial statements of the charity.
The charity was entered in the Central Register of Charities with effect from 23 February 2001 and accepted by the Inland Revenue as a charity for tax purposes.
Reference and administration details
Company number 3920493 in England and Wales Registered Charity number 1085213 Charity Trustees John Norman Rowe Richard Anthony Crowther resigned 10/7/2023 David James Astall Susan Cragg removed 10/07/2023 Robert Hugh Glover appointed 01/07/2023 Trevor Browning appointed 01/07/2023 Registered Address The Village Centre 59 High Street Great Eccleston Preston PR3 0YB Bankers National Westminster plc Santander UK plc
Structure, governance and management
The company is governed by the memorandum and Articles of Association of a company limited by guarantee and not having a share capital. The company was incorporated on 7 July 1999.
Objectives and activities
The objects are to support and develop community provision in the village of Great Eccleston and surrounding villages and establish a Community Resource Centre in Great Eccleston Lancashire.
Trustee Induction and Training
The company seeks to appoint new trustees where a gap in the skill, knowledge, and experience base of the board of trustees is identified, or where there it is necessary to replace trustees who have resigned. Appropriate induction and training is given to new trustees in line with recommended training by the Charity' Commission.
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
Trustees' Annual Report (continued)
Achievements and Performance
For the year ended 31 December 2023 the Village Centre remained self-supporting and continues to promote its offering to the local community.
The Village Centre relies on the help and dedication of volunteers who support its operations.
The trustees would like to record their appreciation to all the volunteers without whom the Village Centre would not be able to operate.
Financial review
Financial results show a profit for the year of £2,583 on unrestricted activity. The trustees believe that in the short to medium term the continued operation of the centre remains secure. However, it remains evident to the trustees that longer-term the centre will require more support from outside partners, particularly if significant capital expenditure is required.
Grants received during the year was £1,000. The increase in grants & donations, overall income increased to £47,234 compared to £47,216 in 2022.
Expenditure for the year was £44,651 (2022: 47,697). The year end unrestricted reserves amounted to £16,346.
Reserves policy
The Trustees have adopted a policy of maintaining minimum unrestricted reserves of at least two month‘s operating costs which amounts to approximately £5,800.
The Village Centre relies on a number of volunteers to support its operations. The average number of volunteers supporting the Village Centre in 2023 was 12 (2022: 17).
Governance and internal controls
The trustees meet on a regular basis and are provided with comprehensive financial information including budgets and prior year reports. Overall progress is monitored at these meetings and any concerns addressed.
2
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
Greet Eccleston Village Centre Ltd (A company limited by guarantee)
Trustees' Annual Report (continued)
Statement of Trustees' responsibilities
The trustees are responsible for preparing the Report of the 'Trustees and the Financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company and charity 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 surplus or deficit of the charity for that year. The trustees must not approve the financial statements, unless they are satisfied that they gave a true and fair view of the state of affairs of the company and the profit and loss of the company for that period.
In preparing those Financial statements, the trustees are required to:
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° select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the application of Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed und explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
The trustees arc responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity' and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees have introduced a formal risk management process of business risks and implement risk management strategies. This involves identifying the types of risks and charity focuses, prioritising them in terms of potential impact and likelihood of adherence and identifying means of mitigate the risks.
As part of the process the trustees have reviewed the adequacy of the charity’s, current internal controls. The trustees are pleased to report that the charity’s internal financial controls, in particular, conform with guidelines issued by the Charity Commission. The trustees have had regard to the Charity Commissions guidance on public benefit entities.
Small company exemptions
Advantage has been taken of the Small Company Exemptions. The report has been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities and is in accordance with section 415Aof the Companies Act 2006.
The report was approved by the board and signed on his behalf on 26[th] September 2024
By order of the trustees
R H Glover
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
Statement of Financial Activities
(incorporating an Income and Expenditure Account)
For the Year Ended 31[st] December 2023
| Note | Unrestricted | Restricted | 2023 | 2022 | |
|---|---|---|---|---|---|
| Fund | Fund | ||||
| £ | £ | £ | £ | ||
| Income | 14 | ||||
| Donations and Legacies | |||||
| Charitable Donations | 19,939 | 0 | 19,939 | 25,488 | |
| Income from Charitable | |||||
| Activities: | |||||
| Centrehire | 16,280 | 0 | 16,280 | 18,455 | |
| Grants | 10,262 | 0 | 10,262 | 2,667 | |
| Other Trading Activities | |||||
| Draw to Win | 753 | 0 | 753 | 606 | |
| Total Income | 47,234 | 0 | 47,234 | 47,216 | |
| Expenditure | 3 | ||||
| Costs of generating Funds | 296 | 0 | 296 | 105 | |
| Charitable Activities | 44,355 | 0 | 44,355 | 47,592 | |
| TotulExpondlture | 44,651 | 0 | 44,651 | 47,697 | |
| Net Income/Expediiture} | 2,583 | 0 | 2,583 | (481) | |
| Total Funds brought forward | 13,763 | 0 | 13,763 | 14,244 | |
| Total Funds carried forward | 16,346 | 0 | 16,346 | 13,763 |
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
Balance Sheet As at 31st December 2023
| Note FIXED ASSETS Tangible Fixed Assets 7 CURENT ASSETS Debtors 8 Cash at bank deposit Cash at bank and in hand CREDITORS Amounts falling due within 1 year 9 NET CURRENT ASSETS 10 NET ASSETS THE FUNDS OF THE CHARITY Unrestricted Restricted |
2023 £ 4,860 14 603 5,477 680 4,797 |
£ 11,549 16,346 16,346 0 16,346 |
2022 £ 8,766 5,685 14 11 5,710 713 4,997 13,763 14,244 0 14,244 |
|---|---|---|---|
The trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the companies act 2006, (The Act) for the year ended 31 December 2023, and confirm that the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the act.
The directors acknowledge their responsibility for ensuring the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company at 31 December 2023 and of its deficit for the year then ended in accordance with the requirements of section 394 and 395 of the Act, and which otherwise comply with the requirements of the companies act relating to accounts, so far as applicable to the company.
Financial statements have been prepared in accordance with the special provisions relating to companies subject to the smaller companies regime within part 15 of the companies act 2006, in accordance with the Financial Reporting Standard 102 (effective January 2015).
The financial statements were approved by the trustees on 26[th] of September 2023 and were signed on be on their behalf by:
Robert Hugh, Glover
Trustee
Company number 392 0493 Charity number 1085213
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
Statement of Cash Flows For the year ending 31 December 2022
| 2023 Note £ Cash generated by operating activities 11 5,006 Cash flows from investing activities Purchase of tangible fixed assets (4,414) Cash provided by (used in) investing activities 592 increase(decrease) in cash and cash equivalents in the year 592 Cash and cash equivalents at the beginning of the year 25 Total cash and cash equivalents at the end of the year 617 |
2022 £ 1,302 (6,448) (5,146) (5,146) 5,171 25 |
|---|---|
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
ACCOUNTING POLICIES
1 a. Statement of compliance
The financial statements have been prepared in compliance with FRS102, financial reporting standards are applicable in the UK and the Republic of Ireland, the statement of recommended practice applicable to charities preparing their accounts in accordance with the financial reporting standards applicable in the UK and Republic of Ireland (FRS space, 102) and the companies act 2006. The financial currency of the counts is sterling.
1 b. Company Status
The charity is a private company limited by guarantee and is a public benefit entity. The company is registered in England and Wales has been registered office at 59 High Street, Great Eccleston, PR3 0YB. The members of the company are the trustees named on page one. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of this charity.
1 c. Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted films are subject to restrictions on their expenditure imposed by the donor.
1 d. Incoming Resources
All incoming resources are included in the statement of financial activities where the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised with the charity when the charity becomes unconditionally entitled to the grant. Grants where related to performance and specific deliverables are accounted for as the charity earns the right to consideration by its performance. Turnover is the amount derived from the provision of goods services and is stated after trade discounts other sales taxes and net of VAT.
No amounts are included in the financial statements for services donated by volunteers.
1 e. Resources Expended
All expenditure (including VAT where applicable) are accounted for an on an accruals basis and has been classified under headings that aggregate all costs related to that activity. Where costs cannot be directly attributed to the particular headings they have been allocated to activities on a basis consistent with the use of the resources. Costs of generating funds are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Governance costs are those incurred in connection with constitutional and statutory requirements.
1 f. Tangible Fixed Assets
Fixed assets are shown at historical cost
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture and fittings 10% equipment 10%
1 g. Taxation
The company is a registered charity and is therefore exempt from taxation on its income and gains.
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
2 Expenditure
| Cost of generating funds Draw 2 Win Charitable activities (note 3) Centre Hire 3 Cost of charitable activities Salaries Rates & Insurance Heat & Light Telephone & Stationery Maintenance Refreshments Other Depreciation Rent 4 Net Expenditure Net expenditure is stated after charging: Depreciation |
2023 £ 296 44,355 44,651 2023 £ 13220 2152 3562 3090 5911 2814 1634 972 11000 44,355 2023 £ 972 |
2022 £ 105 47,592 47,697 2022 £ 14346 2263 1466 3754 6908 2469 4741 645 11000 47,592 2022 £ 645 |
|---|---|---|
No Trustees received or waived any emoluments for the role of trustee or received reimbursement for out-of-pocket expenses during 2023 or 2022. There were no related party transactions during the year.
5 Average number of persons employed
The company employed 2 people during the year (2022: 2). No employee received benefits in excess of £60,000 (2022: Nil). The average head count of employees during the year was 2 (2022: 2).
6 Going Concern
The trustees have considered the ongoing impact of Covid 19 on the charity. The Centre has been open since June 2021. However there has been some impact on the ongoing use of the facility and future usage cannot be predicted with any certainty. During the year the company is continuing to receive funding form Great Eccleston Parish Council. This support together with unrestricted reserves of £13,763 as at 31st December 2023 is in the opinion of the trustees sufficient to enable the centre to continue to operate for a period of 12 months from the date of signing these accounts. The accounts have therefore been prepared on the basis of the company being a going concern.
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
| 7 Tangible Fixed Assets Fixtures & Equipment IT Equipmant £ £ Cost As at 1 January 2023 55,451 112,737 Additions 3,755 0 As at 31 December 2023 59,206 112,737 Depreciation As at 1 January 2023 50,235 109,187 For the year 617 355 As at 31 December 2023 50,852 109,542 Net Book Value As at 31st December 2023 8,354 3,195 As at 31st December 2022 5,216 3,550 8 DEBTORS 2023 Prepayments 264 Trade Debtors 162 Others Debtors 4,420 4,846 9 CREDITORS AMOUNT FALLING DUE WITHIN ONE YEAR 2023 Accruals Draw 2 Win annual monies received in advance 278 278 10 ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Fixed Assets Net current assets 2023 £ £ £ Unrestricted Funds 11,549 4,797 16,346 Restricted Funds 0 0 0 11549 4797 16346 |
Total £ 168,188 3,755 171,943 159,422 972 160,394 11,549 8,766 2022 259 204 4,695 5,158 2022 583 130 713 2022 £ 14,244 0 14244 |
|---|---|
GREAT ECCLESTON VILLAGE CENTRE LTD (A company limited by guarantee)
11 Reconciliation of net movement in funds to net cash flow from operating activities
| Net movement in funds Add: depreciation (Increase) Decrease in debtors Increase (Decrease) in creditors Net Cash generated by operating activities |
2023 £ 2,583 972 1,484 (33) 5,006 |
2022 £ (481) 645 901 237 1,302 |
|---|---|---|
12 Role played by Volunteers
In addition to the position of an employed part time Manager and Cleaner the Centre relies upon the support of volunteers, whose role is to man the Centre ranging from office duties and help with financial records, to manning the kitchen for Charity coffee mornings and any other duties needed to keep the Centre open to the public as a community resource.
GREAT ECCLESTON VILLAGE CENTRE LTD
(A company limited by guarantee)
Great Eccleslon VRllage Centre Limited
(A compani. limited b!" Guarantee)
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