Charity Registration Number 1089853
Company Registration Number 03885646 (England and Wales)
Caterham Barracks Community Trust
Trustees' Report and Unaudited Accounts
30 November 2020
Caterham Barracks Community Trust Report and accounts Contents
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Trustees' report | 2 |
| Independent Examiner's report | 7 |
| Income and expenditure account | 8 |
| Balance sheet | 9 |
| Notes to the accounts | 10 |
Caterham Barracks Community Trust Legal and Administrative information
Trustees
R B Clements (Village resident member) J Blyth (Co-opted) O Ibrahim (User member) J Starmer (User member) L Johnston (Youth member) C Botten (Tandridge District Council member)
Chief Executive Officer Richard Moran
Charity number 1089853
Company number 03885646
Registered office and principal address
The Officers' Mess Coldstream Road Caterham Surrey CR3 5QX
Independent examiner
Lisa Swan ACA Parkes & Swan Limited The Officers' Mess Coldstream Road Caterham Surrey CR3 5QX
Bankers
Barclays Bank Leicester LE8 2BB
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Caterham Barracks Community Trust Trustees' Report For the year ended 30 November 2020
FOREWORD
The Caterham Barracks Community Trust has continued to be innovative and diligent in its stewardship of the organisation's assets to provide services and support for the people of Caterham. I am delighted to say that the Trust has nearly completed addressing the issues which remained outstanding from the Section 106 drawn up by the Council when the estate was planned. Linden Homes was originally scheduled to hand the freeholds to the Trust in 2009. The ARC, Pavilion and Green, Jollife Field and Rifle Range were actually handed over in 2017 and the NAAFI in 2018. This currently leaves the Chapel as the only part of the Section 106 to be an outstanding issue.
Our financial position has continued to improve considerably and in consequence we are able to proceed with confidence to establish our vision for services and the future of the charity in the next 5- 10 years. We are in consultation with many local groups and other agencies as part of this extensive process.
The ARC remains the most high profile example of the charity's current work and the Trust is greatly appreciative of the staff and volunteers who make this such a special place for all who visit. Surestart Children's Centre, formerly based in the Pavilion, lost its Surrey County Council funding and has been replaced by Their Voice, a charity founded on care and compassion for those who have suffered human trafficking and modern slavery. Trustees regularly review progress on all fronts so that our Covid has caused many challenges both to the Trust's financial stability and delivery of its charitable services. We have been fortunate to receive government and other grants allowing the Trust to flourish in the face of adversity. This has been largely due to the efforts of Stephanie Harvey, Robin Clements and the others who have spent many hours making applications and seeking out sources of funding. The Trust is immensely grateful to them for their successful efforts.
The Trust will shortly embark on a review of governance and executive function. This is as part of its preparation for the way ahead to ensure that we are able to maximise future opportunities that will secure the charity and provide support and services in a sustainable fashion for future generations.
I would like to thank Dick Moran who has continued his dedicated service as Chief Executive of the Trust with his usual visionary zeal, for the support he has given me as Chair of the Trust and also to my fellow trustees. I would also like to thank my fellow trustees and in particular Robin Clements, who has shouldered much of the workload connected to Covid, for their dedication and support this year which has remained consistent and reliable. I am optimistic that we will continue to expand its offering and accountability to the people of Caterham and that we will develop a vision for the future which meets the aspirations and needs of the people we serve.
ANNUAL REPORT
The trustees present their report and accounts for the year ended 30 November 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's memorandum and articles of association, the Companies Act 2006 and the Statement of Recommended Practice, "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)].
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Caterham Barracks Community Trust Trustees' Report For the year ended 30 November 2020
Structure, governance and management
Caterham Barracks Community Trust ("the Trust") is a company limited by guarantee governed by its Memorandum and Articles of Association dated 17th December 2001. It is registered as a charity with the Charities Commission. Anyone over the age of 18 can become a member of the company and there are currently 6 members.
Trustees
The trustees, who are also the directors for the purpose of company law and who served during the year were:
J Blyth (Co-opted) Chair
R B Clements (Village resident member) Vice Chair
O Ibrahim (User member)
J Starmer (User member) L Johnston (Youth member)
C Botten (Tandridge District Council member)
Key Employees: Dick Moran Chief Executive Robin Clements Finance Director Nicola Innes Bookkeeper Stephanie Harvey, Sherri Copley and Laura Johnston ARC management team.
All members are circulated with invitations to nominate trustees prior to the AGM. When considering co-opting trustees, the board has regard to the requirement for any specialist skills needed. Categories of Membership referred to in the description of elected trustees are set out in the Memorandum and Articles as follows:
(a) "User members" shall be members who participate and/or use the Trust's sports, arts, leisure and other activities and facilities.
(b) "Youth members" shall be members who are between 18 and 25 years of age who participate in the Trust's youth activities.
(c) "Village resident members" shall be members resident in Caterham Barracks.
(d) "Village business members" shall be members who have a business in Caterham Barracks.
(e) "Caterham members" shall be members who are community organisations and other organisations that have an interest outside Caterham Barracks, but within the area of benefit.
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Caterham Barracks Community Trust Trustees' Report For the year ended 30 November 2020
Admission to membership is at the absolute discretion of the board of trustees who shall ensure membership of the Trust equitably represents individuals and organisations specified in this Article. New trustees receive a full briefing and induction process, including an induction pack. The board of trustees, which can have up to 12 members, administers the charity. The board meets quarterly.
A Chief Executive ("CEO") is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations, the CEO has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and business activity associated with the trading arm, CBCT Trading Limited of which he is a director.
CBCT Trading Limited (Company number 04410262) is a trading company which is a wholly owned subsidiary of the Trust. It runs businesses on behalf of the Trust and covenants profits to the Trust for distribution according to the objectives of the Trust.
The trustees have a risk management strategy which comprises:
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an annual review of the risks the charity may face;
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the establishment of systems and procedures to mitigate those risks identified in the plan; and
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the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
The work has identified a few risks but it has resulted in better emergency procedures and contingency plans and has given the impetus for better planning. This work identified that the biggest risk to the Trust in the short term is the health of the current executive as the function is numerically small. The strategy to subcontract work and progressively reconsider the workload is a deliberate plan to minimise the risk which arises from too much dependence on a small function.
Objectives and activities
The objects of the Trust are set out in the Memorandum and Articles item 3.
"3. The objects of the charity are, for the benefit of those who live, work or study in the area of Caterham Barracks and Caterham ("the area of benefit"):
(1) To provide, or assist in the provision of facilities for recreational and other leisure time activity in the interests of social welfare, with the object of improving the conditions of life of people who live, work or study in the area of benefit, including those who have special need of facilities by reason of youth, disability or social or economic circumstances.
(2) To further education and training for children and adults
(3) To preserve and enhance such parts of the natural or built environment in the area of benefit as are of aesthetic, historic or scientific interest, including in particular, the former Chapel at Caterham Barracks "
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Caterham Barracks Community Trust Trustees' Report For the year ended 30 November 2020
Achievements and performance
As far as activity is concerned, the ARC has remained the keystone of the Trust's activity and has demonstrated the Trust's commitment to inclusivity by maintaining the commitment to Learning Disabled and Disabled Adults in Friday Club in collaboration with Prospero Theatre, work with Clifton Hill and Woodfield special schools and specialist classes for autistic children.
The ARC's programme included a full range of activities for all ages mostly driven by professional tutors. In January 2018 the Trust let the disused space known as Phase 2 to Zodiac Gymnastics, a charity specialising in gymnastics for all ages and levels. The numbers attending have grown throughout the period. Again, it has met the Trust's ambition for meeting the needs of those with the quietest voices and for mixing the professional with the community in new and innovative ways.
Covid lockdown regulations have forced the softplay, gymnastics club and bistro to close for months on end. Whilst this has happened staff have been retained paying them full pay and receiving furlough grants from the government. The Trust has also received grants allowing the installation of a sensory room in softplay for autistic and other children. Whilst softplay has been open it has given free sessions, including lunch, to clients of the Caterham Foodbank.
The Trust's Vice Chair, Robin Clements, has been a regular volunteer at the ARC which has taken up much of the energy of the Trust and its trustees this year. His detailed budgetary plans, together with a revised Management Team and staffing changes have allowed the ARC to continue to flourish even in the difficult times caused by Covid.
The Trust's businesses have made significant improvements during the year and the occupancy of the Officers' Mess stabilised at around 90-95%. This is reflected in the accounts which continue to show a profit. Particular attention has been given to businesses adversely affected by Covid.
The Trust is grateful, in particular to the Triodos Bank for its continuing support and for mortgages held by the Trust on property transferred under the Section 106.
The Trust has continued to create opportunities for groups and individuals, developing significant
Caterham Pumas continue to thrive. 36 teams now make use of the facilities provided making it the most successful team in Caterham. The club has achieved community charter standard status and has put in place all the procedures necessary to maintain that very high standard. These include child protection, the training of managers and officials as well as young people.
A number of the younger members of Caterham Pumas, especially the girls, have used the green for training but cricket has not yet returned.
The Trust board has continued to have most Trustees either living or working in the Barracks.
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Caterham Barracks Community Trust Trustees' Report For the year ended 30 November 2020
Financial Review
Trustees have continued to look critically at the Trust's financial position. Credit control has been tightened to address issues of cashflow.
Within the accounts, donations from CBCT Trading limited totalled £125,000 (2019: £145,000). Investment income was £16,918 compared to £16,234 last year. This is made up of interest recovered from the Trust's subsidiary, CBCT Trading Limited, on the Officers’ Mess mortgage.
Grant income and donations were up at £24,507 compared to £3,826 in 2019. Income and expenses related to the charitable activities that take place at The ARC are included in the accounts and the impact this year has been net income of £4,487 compared to £38,948 net income in 2019. This fall in net income is a result of closure of most facilities during lockdown.
The total funds at the end of the year totalled £281,010 (compared to £199,574 at 30 November 2019). Of this, £79,951 was held in cash. The policy of theTrust is to hold £60,000 in cash reserves which is the estimated working capital capital commitments for three months.
The Trust has become widely recognised by community groups and others and is frequently quoted in articles by the Joseph Rowntree Foundation (JRF), various universities and the Royal Town Planning Institute.
The website now includes the capacity to make donations and create legacies for the people of Caterham. It can be seen at www.caterhambarracks.org.uk .
On behalf of the Board of Trustees
J Blyth Trustee 30 April 2021
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Caterham Barracks Community Trust
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CATERHAM BARRACKS COMMUNITY TRUST ("the Trust")
I report to the charity trustees on my examination of the accounts of the Trust for the year ended 30 November 2020.
Responsibilities and basis of report
As the charity’s trustees of the Trust (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 Trust 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
Since the Trust’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Trust as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs L Swan ACA Institute of Chartered Accountants in England and Wa Parkes & Swan Limited The Officers' Mess Coldstream Road Caterham Surrey CR3 5QX
30/04/2021
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Caterham Barracks Community Trust Statement of Financial Activities Including Income and Expenditure for the year ended 30 November 2020
----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
Notes 2020 2020 2020 2019
Incoming resources £ £ £ £
Donations and subscriptions 2 156,615 - 156,615 179,955
Charitable activities 3 203,545 19,728 223,273 277,417
Investment income 4 16,918 - 16,918 16,234
Total incoming resources 377,078 19,728 396,806 473,606
Resources expended
Charitable activities 5 (308,692) (6,723) (315,415) (378,158)
Total resources expended (308,692) (6,723) (315,415) (378,158)
Interest receivable 45 - 45 -
Net income before interest payable 68,431 13,005 81,436 95,448
Interest payable 10 - - - (8,461)
Net movement in funds 81,436 13,005 81,436 86,987
Reconciliationof funds
-
Funds brought forward at 1 December 2019 199,574 199,574 112,587
Transfer between funds 13,005 (13,005) - -
Funds carried forward at 30 November 2020 281,010 - 281,010 199,574
----- End of picture text -----
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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Caterham Barracks Community Trust Balance Sheet as at 30 November 2020
| Notes Fixed assets Tangible assets 11 Investments 12 Total Fixed Assets Current assets Debtors 13 Cash at bank and in hand Total Current Assets Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 15 Net assets Funds of the Charity Unrestricted funds Restricted funds 16 |
Unrestricted Unrestricted Funds Funds 2020 2019 £ £ 1,139,691 1,192,310 2 2 1,139,693 1,192,312 256,789 245,692 79,951 34,523 336,740 - (63,101) (60,712) 273,639 219,503 1,413,332 1,411,815 (1,132,322) (1,212,241) 281,010 199,574 281,010 199,574 - - 281,010 199,574 |
|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
J Blyth Trustee Approved by the board on 30 April 2021
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Caterham Barracks Community Trust Notes to the Accounts for the year ended 30 November 2020
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards, the Statement of Recommended Practice (SORP FRS 102) and the Companies Act 2006.
Incoming resources
All income receivable is recognised on an accruals basis. Income is included in the Statement of Finnancial Activities when the charity becomes entitled to the resources.
Resources expended
Liabilities and resources expended are recognised when they are due and payable.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Freehold land Not depreciated Freehold building Not depreciated Building improvements Straight line over 24 years Plant and machinery 20% reducing balance Fixtures, fittings & equipment 20% reducing balance
No depreciation is provided in respect of the freehold building on the basis that the trustees consider that the residual value of the building is such to make any depreciation charge immaterial.
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.
| 2 Donations and subscriptions Donations and subscriptions 3 Charitable activities Grants received Income from the ARC Income from the Pavillion Tandridge Covid grants |
2020 £ 156,615 2020 £ 24,507 166,766 6,000 26,000 223,273 |
2019 £ 179,955 2019 £ 3,826 263,591 10,000 - |
|---|---|---|
| 277,417 |
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Caterham Barracks Community Trust Notes to the Accounts for the year ended 30 November 2020
| 4 | Investment income | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Interest income | 16,918 | 16,234 |
During the year £16,918 (2019: £16,234) of loan interest was incurred by the Trust in relation to bank loans for properties rented out by CBCT Trading Limited, the subsidiary of the Trust. Since CBCT Trading Limited have beneficial interest in the properties to which the loans relate, the interest is recharged by the Trust and the amount is included within investment income.
5 Resources expended
| Charitable activities ARC expenses - Running costs - Staff costs Community facilities - Support costs - Governance costs Total charitable activities costs |
Depreciation £ - - - 66,974 - 66,974 66,974 |
Other costs £ 83,744 78,535 162,279 83,512 2,650 86,162 248,441 |
2020 £ 83,744 78,535 162,279 150,486 2,650 153,136 315,415 |
2019 £ 135,603 89,040 224,643 150,865 2,650 153,515 378,158 |
|---|---|---|---|---|
Governance costs include payments to the independent examiner of £2,650 (2019: £2,650) for their fees.
| 6 Support costs Depreciation Mortgage interest Other costs |
2020 £ 66,974 42,294 41,218 150,486 |
2019 £ 39,945 40,586 70,334 150,865 |
|---|---|---|
7 Trustees
The following payments were made to trustees and persons connected with them in the financial year:
Laura Johnston, a trustee, is employed by CBCT Trading Limited, the wholly owned subsidiary of theTrust. Remuneration received for services related to the ARC's activities was £19,225.
Three persons connected with Robin Clements, a trustee, are employed by CBCT Trading Limited and collectively received £35,120 for services related to the ARC's activities.
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Caterham Barracks Community Trust Notes to the Accounts for the year ended 30 November 2020
8 Employees
Number of employees
The average monthly number of employees during the year was:
| Chief Executive Administrative staff ARC staff |
2020 £ 1 1 17 19 |
2019 £ 1 1 18 20 |
|---|---|---|
Wages and salaries are prepared and paid by the trading arm of the charity, CBCT Trading Limited, the 100% subsidiary of the Trust. The full cost of the salaries paid to ARC staff of £78,535 (2019: £89,040), are recharged to the Trust.
There were no employees whose annual remuneration was £60,000 or more.
| 9 Operating profit This is stated after charging: Depreciation of owned fixed assets 10 Interest payable Interest payable |
2020 £ 66,974 2020 £ - |
2019 £ 39,945 2019 £ 8,461 |
|---|---|---|
11 Tangible fixed assets
| Cost At 1 December 2019 Additions At 30 November 2020 Depreciation At 1 December 2019 Charge for the year At 30 November 2020 Net book value At 30 November 2020 At 30 November 2019 |
Land and buildings £ 1,714,655 - 1,714,655 522,553 64,050 586,603 1,128,052 1,192,102 |
Plant and machinery etc £ 3,500 - 3,500 3,452 10 3,462 38 48 |
Fixtures & fittings £ 6,572 14,353 20,925 6,412 2,912 9,324 11,601 160 |
Total £ 1,724,727 14,353 1,739,080 532,417 66,972 599,389 1,139,691 1,192,310 |
|---|---|---|---|---|
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Caterham Barracks Community Trust Notes to the Accounts for the year ended 30 November 2020
The land and buildings relate to three freehold properties owned by the Trust together with capitalised building work carried out in relation to these properties.
All buildings are rented to tenants partly on commercial terms, to provide an income stream, and partly on non-commercial terms (or with limitations), both of which enable the charity to carry out its charitable objects. As a result there is no readily ascertainable market value and because these interests in buildings cannot be defined as purely investment properties, they are shown at cost and depreciated accordingly.
Whilst maintaining the accounting policy of depreciated cost for freehold buildings , as part of the process of refinancing the group's loans in 2019, a professional valuation dated 4 October 2019 gave a market value of £5.565 million for the freehold buildings of the charity.
12 Investments
| Historical cost: At 30 November 2019 At 30 November 2020 Carrying value at 1 December 2019 and 30 November 2020 |
£ 2 2 2 |
|---|---|
Holdings of more than 20%:
The company holds more than 20% of the share capital of the following companies:
| Company | Country of registration or | Shares held | |
|---|---|---|---|
| Subsidiary undertakings | incorporation | Class % |
|
| CBCT Trading Limited | UK | Ordinary 100 |
|
| The aggregate amount of capital and reserves and the results of | these undertakings for the last | ||
| relevant financial year were as follows: | |||
| Principle Activities | Capital and reserves Profit/(loss) for the year |
||
| CBCT Trading Limited | Property rental management | £ £ (289,675) 4,196 |
|
| **13 ** | Debtors | 2020 2019 |
|
| Amounts owed by group undertakings | £ £ 248,224 240,330 |
||
| Prepayments | 8,565 5,362 |
||
| 256,789 245,692 |
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Caterham Barracks Community Trust Notes to the Accounts for the year ended 30 November 2020
| 14 Creditors: amounts falling due within one year Bank loans and overdrafts Accruals and deferred income 15 Creditors: amounts falling due after one year Bank loans Other creditors Analysis of loans Wholly repayable Included in current liabilities Loan maturity analysis Debt due in one year or less In more than one year but not more than two years In more than five years In more than two years but not more than five years |
2020 £ 55,918 7,183 63,101 2020 £ 972,157 160,165 1,132,322 1,028,075 (55,918) 972,157 55,918 58,197 189,207 724,753 1,028,075 |
2019 £ 53,729 6,983 60,712 2019 £ 1,028,076 184,165 1,212,241 1,081,805 (53,729) 1,028,076 53,729 55,919 181,800 790,357 1,081,805 |
|---|---|---|
On the 11 November 2019 the Trust renegotiated and consolidated its loans and a loan of its subsidiary, CBCT Trading Limited. The resultant bank loan is secured by a fixed and floating charge over the properties and assets of theTrust and CBCT Trading Limited. The interest rate is 3.25% above base rate (minimum rate of 4%). Repayments are made monthly and the term of the loan is 15 years.
As at 30 November 2020, included in other creditors greater than one year is £160,165 (2019 : £184,165) owed to the Chief Executive, Richard Moran. No interest is charged and there is no repayment date for the loan.
16 Charity Funds
| Restricted Fund: Bfwd at 1 December 2019 Income Expenditure Transfers Cfwd at 30 November 2021 |
- 19,728 (6,723) (13,005) - |
|---|---|
The transfer from the restricted fund to the unrestricted fund was to transfer the value of tangible fixed assets that were purchased from a restricted fund grant but are held for general and not a restricted purpose.
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Caterham Barracks Community Trust Notes to the Accounts for the year ended 30 November 2020
17 Related party transactions
During the year £16,918 (2019: £16,234) of loan interest was incurred by the Trust in relation to bank loans for properties rented out by CBCT Trading Limited. Since CBCT Trading Limited have beneficial interest in the properties to which the loans relate, the interest is recharged by Trust and the amount is included within investment income.
During the year, the Trust received donations of £125,000 (2019: £145,000) from CBCT Trading Limited.
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