Company registration number: 03975065 Charity registration number: 1086907
The Deepings Community Trust Ltd known as
The Deepings Community Trust Ltd (A company limited by guarantee) Annual Report and Financial Statements
for the Year Ended 31 July 2025
CTax Management Ltd 13 Locks Close Deeping St James Peterborough
The Deepings Community Trust Ltd
| Lincolnshire | ||
|---|---|---|
| PE6 8RA | ||
| Contents | ||
| Reference and Administrative Details | 1 | |
| Strategic Report | 2 | |
| Trustees' Report | 3 to 6 | |
| Independent Examiner's Report | 7 | |
| Statement of Financial Activities | 8 | |
| Balance Sheet | 9 | |
| Notes to the Financial Statements | 10 to 20 |
The Deepings Community Trust Ltd Reference and Administrative Details Chief Executive Officer Garth Perry Charity Registration Number 1086907 Company Registration Number 03975065 The charity is incorporated in England. Registered Office 2 Douglas Road Market Deeping Peterborough Lincolnshire PE6 8PA Principal Office 2 Douglas Road Market Deeping Peterborough Lincolnshire PE6 8PA Independent Examiner CTax Management Ltd 13 Locks Close Deeping St James Peterborough Lincolnshire PE6 8RA Strategic Report for the Year Ended 31 July 2025
The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 July 2025, in compliance with s414C of the Companies Act 2006.
The strategic report was approved by the trustees of the charity on 14 November 2025 and signed on its behalf by:
......................................... Garth Perry Chief Executive Officer and Trustee
Page 1
The Deepings Community Trust Ltd
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 July 2025.
Objectives and activities
Objects and aims
The principal object of the company is to promote the benefit of the inhabitants of the “Deepings” and the neighbourhood together defined by the electoral wards of Market Deeping, Deeping St James, West Deeping, Frognall, Langtoft and Baston (area of benefit) without the distinction of age, ability, sex, sexual orientation, race or of political, religious or other opinions by associating together and said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education, health and local heritage and to provide facilities in the interest of social welfare for recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants.
Fundraising disclosures
The Trustees and Volunteers are responsible for raising all the funds to maintain and develop the building and the programmes. The charity relies on the letting of rooms within the Centre to a wide spectrum of organisations, commercial and non-profit making, with a view to cover its costs and to allow the Centre to be used to meets its objectives.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Chair’s Report for the 2025 accounts.
An explanation of the Charity’s main activities for the year 2024/2025.
At the Community Centre we continue to provide facilities for a variety of regular user groups, including several U3A groups, Sense, Diabetes groups, Deepings Camera Club, and various counselling support groups. We also continued to provide space for clubs, and a range of privately run dance and fitness classes, as well as special interest groups, including classes for the very young, the elderly, and various parent and baby groups. The Centre has also been used by a number of organizations for charitable events, in addition to being a meeting venue for Local Councils and other organizations. It has also been used as a Polling Station for Local Elections. Attendances and bookings have continued to steadily increase over the past year.
Our full and part-time “Clinics” continue to maintain their important services, providing physical and mental health support to the community. Services offered include podiatry, personal training, sport and remedial massage therapy, hypnotherapy and counselling.
The Lions Charity group of volunteers have completed the conversion of part of the Community Centre garden, which has now formally been included in our lease, into a Sensory Garden, which is used for the benefit of those with Sensory impairment in the community. They continue to add new features from time to time, and generally maintain the whole of the garden. They continue to have support from various other local organisations, such as The Rotary and The Round Table, and we are very grateful to them all.
The Community Library, that forms part of the Deepings Community Trust, continues to thrive. In addition to their service of lending books, it has successfully organized and run a number of events, to increase the awareness of their services, and to promote the benefits and enjoyment of reading, particularly amongst young children.
Page 2
The Deepings Community Trust Ltd
Trustees' Report
The financial position of the Deepings Community Trust remains strong and stable, despite the inflation in the cost of materials and services, notably energy.
Page 3
The Deepings Community Trust Ltd
Trustees' Report
The Board of Directors continue to ensure that the facilities and building standards of the Community Centre and the Library are maintained and improved, in conjunction with the Leaseholders. Negotiation over the early renewal of the lease on the Community Centre stalled in late 2023, but after we engaged a specialist in Commercial Leasing in October 2023, and a Solicitor in June 2024, progress was resumed, and our new 25-year Lease, which now covers the whole of the building, and the garden, was signed on 6th May 2025. As a result of this guarantee of continuity, we have embarked on a program of substantial and necessary capital expenditure, to refurbish and modernise the Centre, for the benefit of our Community. Funding has been obtained from the UK Shared Prosperity Fund for the first phase of the program, which is to expand and completely refurbish the toilets of the former SKDC wing, providing safe Unisex toilets, a Disabled toilet with changing facilities, an Ambulant Disabled toilet, and improved Baby Changing facilities.
Full Planning Permission has been obtained for the major development of the Community Library, and drawings are out for Tender. An application for Funding Assistance from the Lottery Heritage Fund has been made.
Deepings Community Trust provides a variety of services and benefits to the Deepings Community. The Centre andLibrary are staffed almost entirely by hardworking volunteers, without whom the DCT would not survive. We thank all our staff, volunteers, and helpers, for their service and support
Garth Perry
Chair Deepings Community Trust Ltd
Use of volunteers
Overall management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the memorandum and articles of association but day to day project activity is carried out by and supervised by volunteers. The Board of Directors recognises that the success of the Trust depends entirely on the commitment of the volunteers who work in the centre and the library. The volunteers are supported by five staff members. The Board would like to express its continued gratitude to all, volunteers and the paid staff, whose ongoing contribution is also most appreciated.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Page 4
The Deepings Community Trust Ltd
Trustees' Report
Trustees: Garth Perry Amy Rebecca Hunnings (Retired 20 November 2024) Jeremy Dubber Susan Elizabeth Harris Elizabeth Margaret Noble David John Shelton (Retired 20 November 2024) Michael Jonathan Staines Dr Pamela Pauline Byrd Helen Louise Major Fiona Catherine Smith Mrs Judy Deanne Stevens (appointed 10 April 2025) Chief Executive Officer: Garth Perry Structure, governance and management Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
Interest bearing assets and liabilities where held are at fixed rate to ensure certainty of cash flows.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.
Page 5
The Deepings Community Trust Ltd
Trustees' Report
Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
Statement of trustees' responsibilities
The trustees (who are also the directors of The Deepings Community Trust Ltd for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
The annual report was approved by the trustees of the charity on 14 November 2025 and signed on its behalf by:
......................................... Garth Perry
Page 6
The Deepings Community Trust Ltd
Trustees' Report
Chief Executive Officer and Trustee
Page 7
The Deepings Community Trust Ltd
for the Year Ended 31 July 2025 Independent Examiner's Report to the trustees of The Deepings Community Trust Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2025.
Responsibilities and basis of report
As the charity’s 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:
-
accounting records were not kept in respect of The Deepings Community Trust Ltd as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... ~~CTax~~ Management
13 Locks Close Deeping St James Peterborough Lincolnshire PE6 8RA
14 November 2025
Statement of Financial Activities
Page 8
The Deepings Community Trust Ltd
(Including Income and Expenditure Account and Statement of Total Recognised Gains
| (105,429) | - | - | (105,429) | (105,429) | |||||
|---|---|---|---|---|---|---|---|---|---|
| 46,402 | - | 46,402 | |||||||
| and Losses) | |||||||||
| Unrestricted funds | Total | ||||||||
| £ | Restricted | 2025 | |||||||
| funds £ | £ | ||||||||
| Income and Endowments from: | Note | ||||||||
| Donations and legacies | 3 | 29,374 | - | 29,374 | |||||
| Investment income | 4 | 12,539 | - | 12,539 | |||||
| Other income | 5 | 109,918 | - | 109,918 | |||||
| Total income | 151,831 | - | 151,831 | ||||||
| Expenditure on: | |||||||||
| Other expenditure | 6 | (105,429) | - | (105,429) | |||||
| Total expenditure | |||||||||
| Net income | |||||||||
| Net movement in funds | 46,402 | - | 46,402 | ||||||
| Reconciliation of funds | |||||||||
| Total funds brought forward | 321,344 | 1,821 | 323,165 | ||||||
| Total funds carried forward | 15 | 367,746 | 1,821 | 369,567 | |||||
| Unrestricted funds | Restricted funds | Total | |||||||
| £ | £ | 2024 | |||||||
| £ | |||||||||
| Income and Endowments from: | Note | ||||||||
| Donations and legacies | 3 | 21,448 | - | 21,448 | |||||
| Investment income | 4 | 7,394 | - | 7,394 | |||||
| Other income | 5 | 115,755 | - | 115,755 | |||||
| Page | 9 |
The Deepings Community Trust Ltd
for the Year Ended 31 July 2025
| (121,275) | - | (121,275) | (121,275) | |||
|---|---|---|---|---|---|---|
| 23,322 | - | 23,322 | ||||
| Total income | 144,597 | - | 144,597 | |||
| Expenditure on: | ||||||
| Other expenditure | 6 | (121,275) | - | (121,275) | ||
| Total expenditure | ||||||
| Net income | ||||||
| Net movement in funds | 23,322 | - | 23,322 | |||
| Reconciliation of funds | ||||||
| Total funds brought forward | 300,823 | 1,821 | 302,644 | |||
| Total funds carried forward | 15 | 324,145 | 1,821 | 325,966 | ||
| All of the charity's activities derive from continuing operations during the above | two periods. | |||||
| The funds breakdown for 2024 is shown in note 15. |
The notes on pages 10 to 20 form an integral part of these financial statements.
| (Registration number: 03975065) Balance | (Registration number: 03975065) Balance | |||
|---|---|---|---|---|
| Sheet as at 31 July 2025 | ||||
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 11 | 5,893 | 8,591 | |
| Current assets | ||||
| Debtors | 12 | 4,240 | 6,628 | |
| Cash at bank and in hand | 13 | 363,105 | 316,487 | |
| 367,345 | 323,115 | |||
| Creditors: Amounts falling due within one year | 14 | (3,671) | (5,740) |
Page 10
The Deepings Community Trust Ltd
| Net current assets | ||||
|---|---|---|---|---|
| 363,674 | 317,375 | |||
| Net assets | ||||
| 369,567 | 325,966 | |||
| Funds of the charity: | ||||
| Restricted income funds | ||||
| Restricted funds | 1,821 | 1,821 | ||
| Unrestricted income funds | ||||
| Unrestricted funds | 367,746 | 324,145 | ||
| Total funds | 15 | 369,567 | 325,966 |
For the financial year ending 31 July 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 8 to 20 were approved by the trustees, and authorised for issue on 14 November 2025 and signed on their behalf by:
......................................... Garth Perry Chief Executive Officer and Trustee
The notes on pages 10 to 20 form an integral part of these financial statements.
Page 11
The Deepings Community Trust Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
- 1 Charity status
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 2 Douglas Road Market Deeping Peterborough Lincolnshire PE6 8PA
The principal place of business is: 2 Douglas Road Market Deeping Peterborough Lincolnshire PE6 8PA
These financial statements were authorised for issue by the trustees on 14 November 2025.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019)
- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
The Deepings Community Trust Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
Page 12
The Deepings Community Trust Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 13
The Deepings Community Trust Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Plant and machinery
Depreciation method and rate Straight line basis over 2 to 5 years
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Page 14
The Deepings Community Trust Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the
Page 15
The Deepings Community Trust Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction
Page 16
The Deepings Community Trust Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
- 3 Income from donations and legacies
| 29,374 | 29,374 | ||
|---|---|---|---|
| 21,448 | 21,448 | ||
| Unrestricted | |||
| funds | Total | ||
| General £ | funds | ||
| £ | |||
| Donations and legacies; | |||
| Donations from community groups | 4,552 | 4,552 | |
| Grants, including capital grants; | |||
| Government grants | 24,822 | 24,822 | |
| Total for 2025 | |||
| Total for 2024 | |||
| 4 | Investment income |
||
| Unrestricted | |||
| funds | Total | ||
| General £ | funds | ||
| £ | |||
| Interest receivable and similar income; | |||
| Interest receivable on bank deposits | 12,539 | 12,539 |
Page 17
The Deepings Community Trust Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
| Total for 2025 |
|---|
| Total for 2024 5 Other income |
| 12,539 | 12,539 |
|---|---|
| 7,394 | 7,394 |
| 109,853 | 109,853 | ||
|---|---|---|---|
| 115,755 | 115,755 | ||
| Unrestricted | |||
| funds | Total | ||
| General £ | funds | ||
| £ | |||
| Fees and supplies | 21,503 | 21,503 | |
| Rental income | 88,350 | 88,350 | |
| Total for 2025 | |||
| Total for 2024 | |||
| 6 Other expenditure |
|||
| Unrestricted | |||
| funds | Total | ||
| General £ | funds | ||
| Note | £ | ||
| Staff costs | |||
| Wages and salaries | 58,923 | 58,923 | |
| Other staff costs | 275 | 275 | |
| Legal and professional fees | 5,258 | 5,258 | |
| Marketing and publicity | 435 | 435 | |
| Depreciation, amortisation and other similar costs | 2,760 | 2,760 | |
| Other resources expended | 37,778 | 37,778 |
Page 18
The Deepings Community Trust Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
| Total for 2025 | ||
|---|---|---|
| 105,429 | 105,429 | |
| Total for 2024 | 121,275 | 121,275 |
| 7 Net incoming/outgoing resources |
||
| Net incoming resources for the year include: | ||
| 2025 | 2024 | |
| £ | £ | |
| Depreciation of fixed assets | 2,760 | 2,787 |
| 8 Trustees remuneration and expenses |
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
9 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Staff costs during the year were: | ||
| Wages and salaries | 58,923 | 53,462 |
| Other staff costs | 275 | - |
| 53,462 | ||
| 59,198 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2025 | 2024 No No | ||
|---|---|---|---|
| Community Centre | 2 | 2 | |
| Library | 3 | 3 | |
| 5 | |||
| 5 |
4 (2024 - 4) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £1,483 (2024 - £1,391).
No employee received emoluments of more than £60,000 during the year.
Page 19
The Deepings Community Trust Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
11 Tangible fixed assets
| 11 Tangible fixed assets | ||||||
|---|---|---|---|---|---|---|
| Furniture and | ||||||
| equipment £ | Total | |||||
| £ | ||||||
| Cost | ||||||
| At 1 August 2024 | 124,099 | 124,099 | ||||
| Additions | 63 | 63 | ||||
| At 31 July 2025 | 124,162 | 124,162 | ||||
| Depreciation | ||||||
| At 1 August 2024 | 115,509 | 115,509 | ||||
| Charge for the year | 2,760 | 2,760 | ||||
| At 31 July 2025 | 118,269 | 118,269 | ||||
| Net book value | ||||||
| 5,893 | 5,893 | |||||
| At 31 July 2025 | ||||||
| At 31 July 2024 | 8,590 | 8,590 | ||||
| 12 Debtors | ||||||
| 2025 | 2024 | |||||
| £ | £ | |||||
| Trade debtors | 4,002 | 5,962 | ||||
| Prepayments | 238 | 666 | ||||
| 13 Cash and cash equivalents | ||||||
| 2025 | 2024 | |||||
| £ | £ | |||||
| Cash at bank | 363,105 | 316,487 | ||||
| 4,240 | 6,628 | |||||
| 14 Creditors: amounts falling due within one year | 15 Funds |
General | 321, | |||
| Balance at 1 | Restricted | 1, | ||||
| Trade creditors | August 2024 |
Incoming resources £ |
||||
| Accruals | £ | |||||
| Unrestricted |
151,832
Page 20
The Deepings Community Trust Ltd
Notes to the Financial Statements for the Year Ended 31 July 2025
| - | Resources | (105,430) | 367,746 | ||||
|---|---|---|---|---|---|---|---|
| 2025 £ |
2024 £ |
Balance at 31 |
- | 1,821 | |||
| 1,271 2,400 |
1,449 4,291 |
expended July 2025 |
|||||
| £ | £ | ||||||
| ~~3~~,671 | 5,740 | ||||||
| Total funds | 323,165 | 151,832 | (105,430) | 369,567 | |||
| Balance at 1 | Incoming | Resources | Balance at 31 | ||||
| August 2023 | resources | expended | July 2024 | ||||
| £ | £ | £ | £ | ||||
| Unrestricted | |||||||
| General | 300,823 | 144,596 | (121,274) | 324,145 | |||
| Restricted | 1,821 | - | - | 1,821 | |||
| Total funds | 302,644 | 144,596 | (121,274) | 325,966 |
16 Analysis of net assets between funds
| 16 Analysis of net assets between funds | ||
|---|---|---|
| Unrestricted funds | Total funds at | |
| 31 July | ||
| General £ | 2025 | |
| £ | ||
| Tangible fixed assets | 5,893 | 5,893 |
| Current assets | 367,345 | 367,345 |
| Current liabilities | (3,671) | (3,671) |
| Total net assets | 369,567 | 369,567 |
| Unrestricted funds | Total funds at | |
| 31 July | ||
| General £ | 2024 | |
| £ | ||
| Tangible fixed assets | 8,591 | 8,591 |
| Current assets | 323,115 | 323,115 |
| Current liabilities | (5,740) | (5,740) |
| Total net assets | 325,966 | 325,966 |
17 Related party transactions
Page 21
The Deepings Community Trust Ltd Detailed Statement of Financial Activities for the Year Ended 31 July 2025
| (105,429) | (121,275) | (121,275) | |||
|---|---|---|---|---|---|
| 46,402 | 23,322 | ||||
| Total | Total | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Income and Endowments from: | |||||
| Donations and legacies (analysed below) | 29,374 | 21,448 | |||
| Investment income (analysed below) | 12,539 | 7,394 | |||
| Other income (analysed below) | 109,918 | 115,755 | |||
| Total income | 151,831 | 144,597 | |||
| Expenditure on: | |||||
| Other expenditure (analysed below) | (105,429) | (121,275) | |||
| Total expenditure | |||||
| Net income | |||||
| Net movement in funds | 46,402 | 23,322 | |||
| Reconciliation of funds | |||||
| Total funds brought forward | 323,165 | 302,644 | |||
| Total funds carried forward | 369,567 | 325,966 |
Page 22
The Deepings Community Trust Ltd
This page does not form part of the statutory financial statements.
Page 23