THE WHALEY BRIDGE COMMUNITY TRUST
THE WHALEY BRIDGE COMMUNITY TRUST
(A company limited by guarantee)
Report & Financial Statements
Period ended 31 March 2023
Charity Number: 1094147 Company Number: 4372616
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THE WHALEY BRIDGE COMMUNITY TRUST
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| Contents | Page |
|---|---|
| Legal and administrative information | 3 |
| Report of the Trustees | 4 |
| Independent Examiners Report | 7 |
| Statement of Financial Activities | 9 |
| Statement of Financial Position | 10 |
| Notes forming part of the financial statements | 11 |
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THE WHALEY BRIDGE COMMUNITY TRUST
Legal and administrative information
Status
The organisation is a charitable company limited by guarantee, incorporated on 13 February 2002 and registered as a charity on 11 October 2002. Annual accounts have been submitted to Companies House and the Charity Commission since the company was registered.
The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under the Articles of Association. Under those Articles, at the first AGM all trustees retired from office and were re-appointed. At subsequent AGMs one third of all trustees subject to retirement by rotation will retire. Retiring Trustees can be re-appointed.
Trustees
Cllr Martin Thomas, Chair Mr G A Rowlands, Secretary Mr J McCabe, Treasurer Mrs J O’Donoghue Ms A Leyland Ms M Parker Mrs S Walton Ms K Spencer Ms P Knight Mrs J Gibson Mr D Shaw Mrs J Gregson Mr G Hall Mrs C Smith – since August 10, 2023
Registered Office and operation address
14 Market Street Whaley Bridge High Peak Derbyshire SK23 7LP
Bankers
The co-operative bank P.O. Box 250 Delf House Southway Skelmersdale WN8 6WT
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THE WHALEY BRIDGE COMMUNITY TRUST
Report of the Trustees for the period ended 31 March 2022
The Trustees present their report and financial statements for the financial year ended 31 March 2023.
Activities
The company is a charity and exists to advance education and to relieve people living in the Whaley Bridge and surrounding area who are in need because of their social and/or economic circumstances by the provision of a drop-in centre offering facilities and services calculated to relieve such charitable needs.
Mission statement
To provide a centre to offer companionship, conviviality and opportunities to improve quality of life in a social and educational way.
Results
The net incoming resources for the period 1 April 2022 to 31 March 2023 amounted to £12,756. The results of the period were dominated by the fundraising and purchase of 14 Market Street. The purchase took place on 20 December 2022 financed by a £130,000 mortgage from The Charity Bank.
Operating income increased by £18,453 (from £28,281 to £46,734) reflecting: a) building purchase fundraising activities, b) an increase in operating activities as Footsteps recovered from the impact of the Covid–19 environment, and c) grant income (£5,250) from Social Investment Business (SIB Reach Fund) to part fund the associated fees in relation to the purchase of 14 Market Street.
Operating expenditure increased by £12,509 (from 21,469 to £33,978) mainly reflecting the impact of the associated fees in relation to the purchase of 14 Market Street.
The £12,756 net incoming resources for the year will provide Footsteps with some financial capacity to either invest in the Charity to ensure the long term future of Footsteps or to manage unforeseen risks arising in the future.
The financial year also saw the purchase of the building which Footsteps operates from. This was funded from a combination of reserves built up in previous years and a mortgage of £130,000.
Advice and information
The initial objectives in both the Business Plan and the Action Plan centred around the need to establish the financial and accommodation base of the Drop-in centre.
We continue to act as a listening post and a place for local people to meet and access the information we make available through our community notice board.
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THE WHALEY BRIDGE COMMUNITY TRUST
Outreach work
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Following the easing and subsequent removal of Covis-19 restrictions we have been extremely busy with the following outreach activities
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A Well-being group meets on a Tuesday afternoon.
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We continue to provide computer tutorials by appointment.
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Other lettings and classes thrive including the Book Club, Knitting Group, and Living History. We also host the Garden and Allotments Committee.
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We have purchased a local history trilogy of our area and will benefit from receiving all the income from the sale of the publication.
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We are supporting the publication of a history of scouting in Whaley Bridge for 100 years.
Future strategy
The future strategy of the Trust lies in the development of both the accommodation and the services offered. As noted above, we purchased 14 Market Street and this now provides long term sustainable premises from which Footsteps can operate from going forward.
Reserves Policy
The Trustees have established a policy to provide a reserve amount from the receipt of unrestricted funds to enable the Trust to operate particularly in bidding for funds and where awards can only be paid after goods and services have been purchased. Current designated funds stand at £14,000.
The reserves also help ensure the financial viability of the Charity by providing some financial headroom to either invest in the Charity to ensure the long term future of Footsteps by making overpayments on the mortgage, or to manage unforeseen risks arising in the future.
Risk Review
The Trust has carried out reviews of health and safety policies including a risk assessment of fire evacuation procedures. Internal risks have been minimised by adopting internal policies. Work is being carried out on the development of financial procedures to limit risks in this area.
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THE WHALEY BRIDGE COMMUNITY TRUST
Responsibilities of the trustees
Company law requires the Trustees to prepare the financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial period. In preparing those financial statements, the Trustees should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Trustees 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.
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THE WHALEY BRIDGE COMMUNITY TRUST
Independent Examiner’s Report to the Trustees of Whaley Bridge Community Trust for the period ended 31 March 2023
I report on the accounts of the Trust for the year ended 31[st] March 2023, which are set out on pages 9 to 14.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under section 43(3)(a) of the 1993 Act);
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to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
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THE WHALEY BRIDGE COMMUNITY TRUST
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 41 of the 1993 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Philip McCabe (CPFA).
Date:
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THE WHALEY BRIDGE COMMUNITY TRUST
Statement of Financial Activities (Income and Expenditure Account) for the period ended 31 March 2023
| Notes Incoming Resources Donations & Fund Raising Activities Grants – Covid-19 Grant – SIB Reach Fund Grants – Other Bank Switch Interest Activities to generate funds: Footsteps Hire of computer suite Total incoming resources 8,9 Resources expended Running costs Property expenses Purchase of building associated fees Depreciation Mortgage Interest Total resources expended 8,9 Net (outgoing) incoming resources Opening funds Funds at 31 March 2023 2, 8 |
Unrestricted funds £ Restricted funds £ 2023 Total Funds 2022 Total funds £ 15,258 - 15,258 100 - - 8,000 - 500 5,250 770 5,250 1,270 - 500 - - 237 57 - 57 13 23,361 - 23,361 16,963 1,538 - 1,538 2,468 |
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| 40,714 6,020 46,734 28,281 |
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| 8,422 - 8,422 5,894 12,130 770 12,900 15,575 3,625 5,250 8,875 - 1,500 1,500 - 2,281 2,281 - |
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| 27,958 6,020 33,978 21,469 |
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| 12,756 - 12,756 6,812 44,499 - 44,499 37,687 |
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| 57,255 - 57,255 44,499 |
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THE WHALEY BRIDGE COMMUNITY TRUST
Statement of Financial Position as at 31 March 2023
| Notes Fixed assets Tangible assets 3,7 Current assets Debtors and prepayments 4 Investment Account Instant Access Account Cash at bank and in hand Creditors: Amounts due in one year Net current assets 5, 6 7 Capital grants received Total assets less current liabilities 7 Creditors falling due after more than one year 5, 6 Net assets Represented by: Unrestricted funds Restricted funds Designated funds Total funds 8 |
£ 294 27,123 3 10,653 |
2023 £ 148,500 36,391 - |
2022 £ - 351 28,066 4,003 12,079 44,499 - 44,499 - 44,499 - 44,499 30,499 - 14,000 44,499 |
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| 38,073 (1,682) |
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| 184,891 (127,636) |
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| 57,255 | |||
| 43,255 - 14,000 |
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| 57,255 |
For the year ending 31[st] March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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THE WHALEY BRIDGE COMMUNITY TRUST
Notes forming part of the financial statements for the period ended 31 March 2023
1. Accounting policies
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(a) The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed asset investments at market value, and in accordance with the Financial Reporting Standards for Smaller Entities and the Companies Act 1985 and follow the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice issued in October 2019.
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(b) Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers has not been included.
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(c) Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
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(d) Incoming resources from Footsteps and from investments is included when receivable.
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(e) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
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(f) Depreciation if applicable is provided at rates calculated to write off the cost of each asset over its expected useful life;
| Building | 25 years |
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| Computer equipment | 4 years |
| Fixtures and fittings | 4 years |
| Refurbishments | 10 years |
| Copyright | 5 years |
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(g) Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
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(h) Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
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(i) Restricted funds are to be used for specific purposes as laid down by the donor.
2. Net incoming resources for the period
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THE WHALEY BRIDGE COMMUNITY TRUST
Taxation
The charitable company is exempt from corporation tax on its charitable activities.
3. Tangible fixed assets
| Cost Brought fwd 1 April 2022 Additions Carried fwd at 31st March 2023 Depreciation Brought fwd 1 April 2022 Charge for the year Carried fwd at 31 March 2023 Net book value at 31 March 2023 Net book value at 31 March 2022 4. Debtors Prepayments – Insurance Premium 5. Creditors Amounts falling due within one year Mortgage Amounts falling due after more than one year Mortgage 6. Debt Analysis Due within one year Mortgage Due after more than one year Mortgage |
Freehold Buildings £ - 150,000 |
Freehold Buildings £ - 150,000 |
Total £ - 150,000 |
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| 150,000 - (1,500) |
150,000 - (1,500) |
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| (1,500) | (1,500) | ||
| 148,500 - 2023 £ 294 2023 £ 1,682 1,682 127,636 127,636 2023 £ 1,682 1,682 127,636 127,636 |
148,500 - 2022 £ 351 2022 £ - |
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| - 2022 £ - |
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The debt relates to the mortgage arranged to purchase the building from which ‘Footsteps’ operates. The mortgage term agreement is 25 years and building acts as security for the mortgage.
7. Analysis of net assets between funds
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THE WHALEY BRIDGE COMMUNITY TRUST
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| Tangible fixed assets Current assets Current liabilities |
General Funds £ Designated Funds £ Total Funds £ 148,500 - 148,500 22,391 14,000 36,391 - - 170,891 14,000 184,891 |
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8. Movements in funds
| Restricted Funds General Funds Unrestricted Funds General Funds Designated Funds |
As at 31 March 2022 £ Incoming Resources £ Outgoing Resources £ Transfers £ As at 31 March 2023 £ - 6,020 (6,020) - - 30,499 40,714 (27,958) - 43,255 14,000 - - - 14,000 |
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| 44,499 46,734 (33,978) 0 57,255 |
Purposes of restricted funds
Restricted funds relate to grants received to partially fund specific items of fixed assets and general expenses.
Purposes for designated funds
Designated funds are held to enable the trust to operate and bid for funds where awards can only be made after goods and services have been purchased.
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THE WHALEY BRIDGE COMMUNITY TRUST
9. Statement of Financial Activities for the period ended 31 March 2023
| Income Donations Grants – Covid-19 Grants – Other Footsteps Hire of Premises Bank Switch Interest Total income Expenditure Repairs and maintenance Groceries Rent Security Electricity Telephone Water Insurance Licence Health & Safety Furnishings Cleaning Books & Magazines Equipment Council Tax Purchase of Building – legal, valuation & loan arrangement fees Depreciation Interest Total expenditure Net (Outgoing)/Incoming Resources |
Total Funds 2023 £ 15,258 - 6,520 23,361 1,538 - 57 46,734 1,815 3,118 7,497 236 2,326 412 389 645 55 603 364 89 2,475 878 420 8,875 1,500 2,281 33,978 12,756 |
Total Funds 2022 £ 100 8,000 500 16,963 2,468 237 13 |
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| 28,281 2,539 2,656 9,530 90 2,915 510 315 687 190 - 62 1,485 - 276 214 - - |
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| 21,469 | ||
| 6,812 |
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