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2023-03-31-accounts

Charity registration number 1092910

Company registration number 04337821 (England and Wales)

NUMBER ONE COMMUNITY TRUST (TW) LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

NUMBER ONE COMMUNITY TRUST (TW) LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr R F Horan (Appointed 18 July 2022)
Mr R Mole (Appointed 10 November 2023)
Mr P Pearce
Rev Dr P T Sanlon
Mr A Tyler (Appointed 10 November 2023)
Chair Rev Dr Peter Sanlon
Secretary Mr R Mole
Charity number 1092910
Company number 04337821
Principal address 1 Rowan Tree Road
Tunbridge Wells
Kent
TN2 5PX
Registered office 1 Rowan Tree Road
Tunbridge Wells
Kent
TN2 5PX
Independent examiner Colin Dadswell FCA FCCA DChA
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
Bankers Unity Trust Bank PLC
Four Brindleyplace
Birmingham
West Midlands
B1 2HB
Barclays Bank PLC
Tunbridge Wells Branch
Leicester
Leicestershire
LE87 2BB

NUMBER ONE COMMUNITY TRUST (TW) LTD

CONTENTS

Page
Chairman's statement 1
Trustees' report 2 - 4
Independent examiner's report 5
Statement of financial activities 6
Statement of financial position 7
Notes to the financial statements 8 - 21

NUMBER ONE COMMUNITY TRUST (TW) LTD

CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2023

Chairman's Report

Thank you for your interest in Number One. As a community focused charity we exist to serve the community that lives around us. I am very aware that our goal is delivered by a large roll call of people who give their time, skills, wisdom, finances and energy. Thank you. As Chairman for the past year I have had the privilege of seeing people in our community pulling together during what have been without a doubt the most challenging years for people in the vital arenas of health, bereavement, employment, finance, social provision, schooling and travel. I am conscious that the cost of living crisis has continued to be a real challenge for many in our community. So our community larder and the warmth of our café are valued.

I share the thanks of all the trustees to all who support, partner with and volunteer for, Number One. Thank you for making a difference.

With warmest thanks and every blessing for the year to come,

Rev. Dr. Peter Sanlon.

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Rev Dr Peter Sanlon
Chairman
Date: .........................
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NUMBER ONE COMMUNITY TRUST (TW) LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

These remain the same as in previous years as follows:-

We aim to achieve these objectives by:

Public benefit

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.

Achievements and performance

The Trust continued to seek to help residents face a cost of living challenge. The trustees and management would like to thank the various stakeholders and partners who share our ambition to support and empower local people – in particular, the Tunbridge Wells Borough Council, Kent County Council and Town & Country Housing Group Foundation, for their ongoing support and commitment. We also wish to thank all those in the community and our members for making a valuable contribution to the activities and regular income.

The cafe and pre school have continued to be used with benefit to the community. We have been aware of rising incidents of anti-social behaviour as flats around the community centre are vacated in preparation for redevelopment. That has been challenging but has led to us seeking to partner more closely with services, police and the developers to address social concerns.

Collaboration with partners

In keeping with the aspiration to establish the Number One Community Trust as the essential social hub of the district, collaborations began with several organisations who held activities or delivered services at our site. These included the Fair Share food distribution programme, ‘Nature and Nurture’ sessions for vulnerable children, Citizens Advice Bureau surgeries, Kent Youth Charity supported events and Kent County Council who provide the library.

NUMBER ONE COMMUNITY TRUST (TW) LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Premises

Within the funding constraints the Trust was able to improve some aspects immediately and plan for the future. In line with a prior premises review and survey completed as part of a new maintenance and improvement plan, we saw new lighting installed in the library. The trustees continue to explore opportunities for re-negotiating the library service agreement and improving our management and maintenance of the Showfields Hall, which is leased from the Borough Council. There was ongoing vandalism to the buildings – mitigated to some degree by CCTV.

Financial review

Deficit

The financial result for the year was an overall deficit of £55,187 (2022: deficit of £14,616) including a net decrease in restricted funds of £71,782 (2022: net increase of £58,416), and a net increase in unrestricted funds of £16,595 (2022: net decrease of £73,032).

Going concern

The trustees are satisfied the charity is a going concern however rising costs of employment and utilities and food mean that it will be necessary to explore the costs facing the charity in the coming year more in depth.

Reserves policy

On 31 March 2023 our unrestricted reserves stood at £81,735 (2022: £65,140) which gives us reserves to cover six months normal expenditure. Our restricted reserves stand at £253,022 (2022: £324,804). The trustees are actively seeking additional sources of income through grants and other means to ensure our reserves continue to cover up to six months normal expenditure.

Principal funding sources

(i) Voluntary income: Tunbridge Wells Borough Council continued their financial assistance providing another grant this year, however overall grant support was substantially less than received last financial year. A transfer of funds from Number One Residential which manages two apartments owned by the Trust amounted to £22,244 (2022: £27,909) of income recognised this financial year. The Trust continued to receive funds from our small number of regular supporters in the current year as before.

(iii) Subscriptions, sales & hiring fees: The main source of income under this heading is the charge made to KCC Libraries for the provision of the library premises and income from the Café.

(iv) Resources used in charitable activities: The three main activities have been segregated in terms of their costs in a similar manner to last year. Support costs have been allocated to the café. The balance of these costs is taken in "Other activities for the community". All direct costs have been attributed to the appropriate activity.

Safeguarding

NOCT supports our community and as a necessary part of that work, comes into daily contact with a wide range of vulnerable adults and children. All our staff and trustees are DBS checked to the highest level permitted, and there is regular training for all in contact with children and vulnerable adults. NOCT has Safeguarding Policy and Procedures - these were updated and recommitted to in Feb 2022.

Structure, governance and management

The trust is a company limited by guarantee.

NUMBER ONE COMMUNITY TRUST (TW) LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr S P Anderson (Resigned 10 November 2023) Mr K R Davies (Resigned 10 November 2023) Mr C Hall (Resigned 10 November 2023) Mr R F Horan (Appointed 18 July 2022) Mr M K Hurst (Resigned 17 October 2022) Mr R Mole (Appointed 10 November 2023) Mr P Pearce Rev Dr P T Sanlon Mrs M J Taylor (Resigned 10 November 2023) Mr A Tyler (Appointed 10 November 2023) Mrs T J Walton (Resigned 10 November 2023) Mr C J Woodward (Resigned 15 May 2023)

Recruitment and appointment of trustees

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Other matters

The trust is pleased to announce that Rosemary Shrager is their new ambassador. Rosemary is a talented television chef who is perhaps best known as a judge on Soapstar Superchef and as a mentor on Ladette to Lady. Rosemary is committed to supporting and promoting Number One Community Trust, she said:

‘This is an opportunity for you to contribute as little as £1 to whatever you can afford on a regular or one-off basis. Your contribution will go towards a variety of community projects, subsidised food, free lunch for children and activities for all age groups. From pre-schoolers to the elderly.

‘This charity has been going for more than 30 years. With your help we can keep it going for another 30 years or more.’

The trustees are thankful to Rosemary Shrager for her support of the charity – it is clear that publicity has been improved and we will be evaluating the financial income streams as the year progresses.

The trustees' report was approved by the Board of Trustees.

Rev Dr P T Sanlon

Trustee

18 December 2023

NUMBER ONE COMMUNITY TRUST (TW) LTD

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF NUMBER ONE COMMUNITY TRUST (TW) LTD

I report to the trustees on my examination of the financial statements of Number One Community Trust (TW) Ltd (the trust) for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements 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 the trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

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 financial statements to be reached.

Colin Dadswell FCA FCCA DChA

Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

Dated: 19 December 2023

NUMBER ONE COMMUNITY TRUST (TW) LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Restricted Restricted Total Unrestricted Restricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
Notes £ £ £ £ £ £
Income from:
Donations and legacies 3 29,212 15,000 44,212 12,297 76,320 88,617
Charitable activities 4 88,771 2,445 91,216 58,247 - 58,247
Other income 5 - - - 52 - 52
Total income 117,983 17,445 135,428 70,596 76,320 146,916
Charitable activities
Provision of community
cafe 6 69,739 14,334 84,073 52,162 1,639 53,801
Pre-school Nursery 6 2,141 8,795 10,936 2,858 4,303 7,161
Other activities for the
community 6 80,133 - 80,133 51,643 10,996 62,639
Showfields Hall 6 11,570 3,903 15,473 36,965 966 37,931
Total charitable
expenditure 163,583 27,032 190,615 143,628 17,904 161,532
Total expenditure 163,583 27,032 190,615 143,628 17,904 161,532
Net expenditure (45,600) (9,587) (55,187) (73,032) 58,416 (14,616)
Transfers between
funds 16 62,195 (62,195) - - - -
Net movement in
funds 16,595 (71,782) (55,187) (73,032) 58,416 (14,616)
Reconciliation of funds:
Fund balances at 1 April 2022 65,140 324,804 389,944 138,172 266,388 404,560
Fund balances at 31 March
2023 81,735 253,022 334,757 65,140 324,804 389,944

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

NUMBER ONE COMMUNITY TRUST (TW) LTD

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2023

2023 2022
Notes £ £ £ £
Fixed assets
Property, plant and equipment 11 263,424 265,425
Investments 12 1 1
263,425 265,426
Current assets
Trade and other receivables 13 25,613 54,071
Cash at bank and in hand 59,688 75,385
85,301 129,456
Current liabilities 14 13,969 4,938
Net current assets 71,332 124,518
Total assets less current liabilities 334,757 389,944
The funds of the trust
Restricted income funds 16 253,022 324,804
Unrestricted funds 81,735 65,140
334,757 389,944

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 18 December 2023

Rev Dr P T Sanlon

Trustee

Company registration number 04337821 (England and Wales)

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Company information

Number One Community Trust (TW) Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 1 Rowan Tree Road, Tunbridge Wells, Kent, TN2 5PX.

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The trust is a Public Benefit Entity as defined by FRS 102.

The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (Continued)

1.5 Expenditure

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount anticipated to be paid to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

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

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

All expenditure is inclusive of irrecoverable VAT.

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The trust has elected not to capitalise any fixed assets with a cost of less than £500, but instead to recognise these in expenditure for the year.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Freehold land and buildings 2% per annum
Showfields Improvements 33% per annum
Kitchen equipment 20% per annum
Showfield Hall equipment 20% per annum
Office equipment 25% per annum
Website costs 33% per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Non-current investments

Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the trust. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 Impairment of non-current assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (Continued)

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

2 Critical accounting estimates and judgements

In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Restricted Restricted Total Unrestricted Unrestricted Restricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Donations and gifts
26,637		 - 26,637 5,570 - 5,570
Grants
2,575		 15,000 17,575 6,727 76,320 83,047
29,212 15,000 44,212 12,297 76,320 88,617
Donations and gifts
Donations
4,394		 - 4,394 5,570 - 5,570
Profit share from
subsidiary
22,243		 - 22,243 - - -
26,637 - 26,637 5,570 - 5,570
Grants receivable for core activities
Tunbridge Wells Borough
Council
2,000		 15,000 17,000 - 4,000 4,000
Local Authority
coronavirus support
grants
-		 - - - 42,984 42,984
Coronavirus Job
Retention Scheme
-		 - - - 4,002 4,002
Other grants received
575		 - 575 6,727 25,334 32,061
2,575 15,000 17,575 6,727 76,320 83,047

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

4 Income from charitable activities

Unrestricted Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Provision of community cafe
Cafe sales 43,048 - 43,048 29,263 - 29,263
Pre-school Nursery
Pre-school utilities
contribution - 2,445 2,445 105 - 105
Other activities for the community
Other charitable income 22,058 - 22,058 2,463 - 2,463
Showfields Hall
Community centre hire 23,665 - 23,665 26,416 - 26,416
88,771 2,445 91,216 58,247 - 58,247

5 Other income

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Peppercorn rent charged to subsidiary - 52

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

6 Expenditure on charitable activities

Provision of Provision of
Pre-school
Pre-school		 Other
Showfields
Showfields		 Total
community
Nursery		 activities for Hall
cafe the
community
2023 2023 2023 2023 2023
£ £ £ £ £
Direct costs
Staff costs 55,261 - 29,746 - 85,007
Depreciation and impairment 2,935 - 9,376 3,903 16,214
Stock purchases 13,580 5,770 2,956 - 22,306
Equipment and direct expenses 1,972 - - - 1,972
Rent - 2,000 - 5,588 7,588
Rates and water - - 2,510 331 2,841
Gas and electricity 6,593 1,025 4,335 2,408 14,361
Repairs and renewals 1,647 1,334 3,041 1,868 7,890
Insurance 430 430 2,423 645 3,928
Telephone and internet 360 360 540 540 1,800
Stationery, post and computer costs 12 - 888 43 943
Waste services - - 3,337 - 3,337
Project/Event expenses 1,125 17 - - 1,142
Other admin costs 158 - 167 147 472
Advertising & Marketing costs - - 1,099 - 1,099
84,073 10,936 60,418 15,473 170,900
Share of support and governance costs (see note 7)
Governance - - 19,715 - 19,715
84,073 10,936 80,133 15,473 190,615
Analysis by fund
Unrestricted funds 69,739 2,141 80,133 11,570 163,583
Restricted funds 14,334 8,795 - 3,903 27,032
84,073 10,936 80,133 15,473 190,615

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

6 Expenditure on charitable activities (Continued)

Previous year: Provision of Provision of
Pre-school
Pre-school		 Other
Showfields
Showfields		 Total
community
Nursery		 activities for Hall
cafe the
community
2022 2022 2022 2022 2022
£ £ £ £ £
Direct costs
Staff costs 29,828 95 26,189 26,201 82,313
Depreciation and impairment 1,039 - 8,533 966 10,538
Stock purchases 14,551 565 1,334 - 16,450
Equipment and direct expenses 1,001 - - 90 1,091
Rent - - - 6,321 6,321
Rates and water 165 103 1,742 40 2,050
Gas and electricity 3,842 2,367 5,527 1,724 13,460
Repairs and renewals 798 798 5,364 398 7,358
Insurance 238 238 2,866 357 3,699
Telephone and internet 347 347 521 521 1,736
Stationery, post and computer costs 12 - 724 - 736
Waste services 646 645 968 968 3,227
Staff training 564 - 210 90 864
Project/Event expenses 600 1,833 2,463 - 4,896
Other admin costs 170 170 774 255 1,369
53,801 7,161 57,215 37,931 156,108
Share of support and governance costs (see note 7)
Governance - - 5,424 - 5,424
53,801 7,161 62,639 37,931 161,532
Analysis by fund
Unrestricted funds 52,162 2,858 51,643 36,965 143,628
Restricted funds 1,639 4,303 10,996 966 17,904
53,801 7,161 62,639 37,931 161,532
Other Total
activities for
the
community
2023 2022
£ £
Governance 19,715 5,424

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

7 Support costs allocated to activities (Continued)

2023 2022
Governance costs comprise: £ £
Legal and professional 9,830 784
Book keeping 5,145 -
Accountancy 3,160 3,930
Independent Examination 1,580 710
19,715 5,424

Support and governance costs include payments to the independent examiner for accountancy and independent examination services as follows:

Former examiner

Additional work on 2022 accounts not accrued £1,160 Additional 2022 Independent examination work 2022 not accrued £580

Current examiner

Accountancy for 2023 accounts £2,000 Independent examination of 2022 accounts £1,000

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

Reimbursement was however made to Staff & Trustees for the amount of £304 for purchase of items for the Trust.

9 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
7 7
Employment costs 2023 2022
£ £
Wages and salaries 82,691 81,252
Other pension costs 2,316 1,061
85,007 82,313

There were no employees whose annual remuneration was more than £60,000.

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

9 Employees (Continued)
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2023 2022
£ £
Aggregate compensation - -
10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

12 Fixed asset investments

Other
investments
Cost or valuation
At 1 April 2022 & 31 March 2023 1
Carrying amount
At 31 March 2023 1
At 31 March 2022 1
2023 2022
Other investments comprise: Notes £ £
Investments in subsidiaries 20 1 1
13 Trade and other receivables
2023 2022
Amounts falling due within one year: £ £
Trade receivables 6,570 22,351
Amounts owed by subsidiary undertakings 15,153 27,910
Other receivables 20 20
Prepayments and accrued income 3,870 3,790
25,613 54,071
14 Current liabilities
2023 2022
£ £
Other taxation and social security (134) (6,001)
Trade payables 3,209 5,149
Amounts owed to subsidiary undertakings 2,294 -
Other payables 1,283 -
Accruals and deferred income 7,317 5,790
13,969 4,938

15 Retirement benefit schemes

Defined contribution schemes

The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £2,316 (2022 - £1,061).

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April At 1 April
Incoming
Incoming
Resources
Resources
Transfers
Transfers		 At 31 March At 31 March
2022 resources expended 2023
£ £ £ £ £
Capital funds: Extension and
refurbishment fund 256,925 - (3,903) - 253,022
TCHG Pre-school mentoring
fund 800 - - (800) -
TCHG Pre-school training fund 1,950 - - (1,950) -
Kent Community Foundation 6,000 - (6,000) - -
KCC Reconnect Grant 1,000 - (1,000) - -
Omicron Grant 5,334 - (5,334) - -
Pre-School Lease Utilities
Contribution (1,420) 2,445 (1,025) - -
Grants, Projects/Events 54,215 - - (54,215) -
TWBC - Larder Equip, Meals,
COL - 15,000 (9,770) (5,230) -
324,804 17,445 (27,032) (62,195) 253,022
Previous year: At 1 April
Incoming
Resources
Transfers		 At 31 March
2021 resources expended 2022
£ £ £ £ £
Capital funds: Extension and
refurbishment fund 263,638 3,825 (10,538) - 256,925
TCHG Pre-school mentoring
fund 800 - - - 800
TCHG Pre-school training fund 1,950 - - - 1,950
Kent Community Foundation - 6,000 - - 6,000
KCC Reconnect Grant - 1,000 - - 1,000
Omicron Grant - 5,334 - - 5,334
Pre-School Lease Utilities
Contribution - 1,050 (2,470) - (1,420)
Grants, Projects/Events - 59,111 (4,896) - 54,215
266,388 76,320 (17,904) - 324,804

Capital Funds: Extension and refurbishment fund

Funding was received during the year ended 31 March 2004 specifically to support the costs of construction, fitting out and furnishing of the enlarged and refurbished premises for which the charity was responsible. All restricted funding received was expended during the year ended 31 March 2005 with the costs being capitalised as an asset, to be written off over the following years. The remaining fund balance is now represented on the balance sheet as a fixed asset and depreciation charged each year is set against the fund balance.

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

16 Restricted funds (Continued)

The Town and Country Housing Group Pre-school mentoring and training funds are restricted and relate to specific projects. The transfer in the year recognises that these funds were expended in previous years.

The Kent Community Foundation and KCC Reconnect Grants were both post covid project and event grants and were expended in the year.

The Omicron grant was expended in the year.

The pre-school lease utilities contribution is relates directly to the electricity and gas consumed by the preschool.

The Grants for projects/events were restricted funds received from various sources, the vast majority of which were covid related grants from Tunbridge Wells Borough Council. The transfer in the year recognises that these funds were expended in previous years.

The Larder fund, given by Tunbridge Wells Borough Council, was for capital equipment, meals and cost of living costs for the period Jan to Mar 2023. The Transfer in the year represents the capital cost of kitchen equipment acquired and capitalised.

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At At 1 April
Incoming
Incoming
Resources
Resources
Transfers
Transfers		 At 31 March At 31 March
2022 resources expended 2023
£ £ £ £ £
General funds 65,140 117,983 (163,583) 62,195 81,735
Previous year: At 1 April
Incoming
Resources
Transfers		 At 31 March
2021 resources expended 2022
£ £ £ £ £
General funds 138,172 70,596 (143,628) - 65,140
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
Fund balances at 31 March 2023 are represented by:
Property, plant and equipment 10,402 253,022 263,424
Investments 1 - 1
Current assets/(liabilities) 71,332 - 71,332
81,735 253,022 334,757

18 Analysis of net assets between funds

NUMBER ONE COMMUNITY TRUST (TW) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

18 Analysis of net assets between funds (Continued)

Unrestricted Restricted Total
funds funds
2022 2022 2022
£ £ £
Fund balances at 31 March 2022 are represented by:
Property, plant and equipment - 265,425 265,425
Investments 1 - 1
Current assets/(liabilities) 65,139 59,379 124,518
65,140 324,804 389,944

Restricted funds are represented by assets which were purchased during the year ended 31 March 2005 using restricted grants received during the year ended 31 March 2004.

19 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

20 Subsidiaries

These financial statements are separate trust financial statements for Number One Community Trust (TW) Ltd.

Details of the trust's subsidiaries at 31 March 2023 are as follows:

Name of undertaking Registered Nature of business Class of % Held
office shares held Direct Indirect
Number One Residential UK Residential letting Orginary 100.00
Limited Shares

The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:

Name of undertaking Profit/(Loss) Capital and
Reserves
£ £
Number One Residential
Limited 24,848 1