Registered number: 4385681 c.harity numhp.r'. 1094701 THANET COMMUNITY DEVELOPMENT TRUST LIMITED (A Company Limited by Guarantee and a Charity) Trustees. Report and Financial Statements For the Thanet Community Development Trust Limited Year Ended 31 March 2024
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Contents Page Chairman's Statement Trustees, Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet 10-11 Notes to the Financial Statements 12-18
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Chairman's Statement For the Thanet Community Development Trust Limited Year Ended 31 March 2024 Thanet Community Development Trust Accounts 2023-24 Welcome to the Chair's Report for the 2023-2024 Thanet Trust Annual Accounts. Stability and continuity remain our watchwords. We have continued to deliver all of our social inclusion projects (two History Clubs per week, two Craft Clubs per week and a monthly Friendship Clubl and both Ramsgate and Margate Job Clubs remain in full force. All of these clubs are in addition to our accredited training courses. for example our ever-popular Construction Skills Certification Scheme ICSCS), and our expanding suite of first aid courses, which run continuously throughout the year helping people increase their skills, find work and change their lives. Our stability is underlined by my being able to say that yet again our Trustees have all remained in place as have all of our key staff, in fact our Trustee members have increased by one as we welcomed the excellent Pauline Smith to the team. l am very proud of these achievements and wish to pay due tribute both to my fellow Trustees and also to our dedicated and hard-working staff for their roles in our success in this remarkable year. Each and every one of our funders is important to us. we appreciate your support and would like to pass on the thanks of all of our beneficiaries whose lives you have changed for the better. Specifically, I would like to mention: Albert Hunt Trust; B&CE's Charitable Trust.- Clothworkers, Foundation- Cole Charitable Trust- Francis Winham Foundation: Gibbons Family Trust: Hobson Charity,. John Swire 1989 Charitable Trust- Kent Community Foundation; National Lottery,. Skinners, Charity Foundation; Thanet District Council: Tory Family Foundation; Tudor Trust,. W G Edwards Charitable Foundation; Woodroffe Benton Foundation; And many other smaller funders.
THANET COMMUNITY DEVELOPMENTTRUST LIMITED IA Company Limited by Guarantee and a Charity) As I look forward, I believe I can safely predict another year of widespread effective community development from both Thanet Trust and its sister organisation. Kent Enterprise Trust. We will endeavour to improve the lives of those in East Kent who can be helped by our services while ensuring our own sustainability into the long term. Thank you for reading this report. Richard Chapma Chair Thanet Trust 1310? |L4-
THANET COMMUNITY OEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Trustees, Report For the Thanet Community Development Trust Limited Year Ended 31 March 2024 Trustees: Richard Chapman Barbara Sims Keith Single Ralph Hoult OBE Pauline Smith Chair Vice Chair Treasurer - Trustee -Trustee (appointed 27 March 2024) As Trustees of TCDT. we are responsible for preparing this report for inclusion in the annual accounts. In so doing we hope that it sets out for the audien the charlS purpose, how we work towards that purpose. and what our work has achieved. The Trustees (who are also Directors of the charity for the purpose of the Companies Act) present their annual report together with the financial statements of Thanet Community Development Trust Limited (the Charity) for the year ended March 31 2024. The Trustees confirm that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the CharitWs governing document and the provisions of the Statement of Recommended Practice1SORPI "Accounting and Reporting by Charities" issued in March 2015. The Trustees have given due consideration to the Charity Commission's published guidance on the Public Benefit requirement under the Charities Act 2011. Structure, governance and management CONSTITUTION Thanet Community Development Trust Limited is registered at Companies House as a charitable company limited by guarantee and was set up by a Trust deed on I" March 2002, the registered number is 04385681. The organisation was also created as a charity on 21" November 2002 and is registered with the Charity Commission under number 1094701. METHOD OF APPOINTMENT OR ELEcfioN OF TRUSTEES The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. ORGANISATIONAL STRUCTURE AND DECISION MAKING The charity Is organised so that the Trustees meet regularly 10 manage its affairs. Day-to-day responsibility is then delegated to the Chief Executive. Objertive5 and Artivities POLICIES AND OBJECTIVES The aim of the Trust is stated as- Thanet Community Development Trust. and the organisations which flow from it, will be socially based and not-for-private gain in that any profits realised will be reinvested in the community- Its central aim will be to develop and improve the communities of Thanet, however defined. Priority will be given to people, groups and areas identified as in some way disadvantaged..
THANET COMMUNITY DEVELOPMENT TRUST LIMITED {A Company Limited by Guarantee and a Charity) Trustees. Report For the Thanet Community Development Trust Limited Year Ended 31 March 2024 Achievements and performance GOING CONCERN The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. REVIEW OF ACTIVITIES In line with its stated policy objertives above TCDT has continued to support its beneficiaries even in these continually challenging operating environments. This has been 3 year of sustainable consolidation at the Trust. We have continued to deliver all of our social inclusion projects (Two History Clubs per week. Two Craft clubs per week and a monthlv Friendship club) and both Ramsgate and Margate job clubs remain in full force. All of these clubs are in addition to our accredited training courses which run continuously throughout the year helping people change their lives. Our stability is underlined by our being able to say that we have increased the number of Trustees by one and yet again our staff have all remained in place. All contracts undertaken have resulted in successful performance and there have been no shortfalls in funding or clawbacks as a result of non-performance. Financial Review RESERVES POLICY The company endeavours to keep at least two to three months, running costs in reserve to allow for late receipt of income. This is calculated by deducting the element of reseNes relating to the leasehold property. the Hereson Centre, from the total reserve figure. INCOME Grant funding is mainly through grant-making bodies and service delivery contracts. and our bids for funding target those sources with activities in the key areas in which the company specialises. The trustees would like to express their appreciation to all of the funders who have contributed to the income and for their ongoing and generous support.
THANET COMMUNITY DEVELOPMENT TRUST LIMSTED (A Company Limited by Guarantee and a Charity) Trustees, Report For the Thanet Community Development Trust Limited Year Ended 31 March 2024 EXtRAORDINARY ITEM During the period the Trustees closed a dormant company to which the Trust was linked. Because the bank account was linked to the dormant company our bankers froze our bank account. We have instructed lawyers to reopen the dormant company through the courts and arrange a bank overdraft facility. The financial impact of their artions is shown in note 16 however, this matter has now been resolved. Other FUNDS HELD AS CUSTODIAN The company does not act as a custodian trustee for others. All of the assets referred to in the accounts belong to the charity- Trust assets cannot be disposed of without the consent of the trustees in a regular meeting. In preparing this report. the Trustees have taken advantage of the small compan5 exemptions provided by section 415A of the Companies Art 2(K)6. This report was approved stees and Signed on their behalf by K SINGLE, Tr ee / Trca rer
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Independent Examinerfs Report For the Thanet Community Development Trust Limited Year Ended 31 March 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE THANEf COMMUNITY DEVELOPMENT TRUST LIMITED I report on the financial statements of the Charity for the Th3net Community Development Trust Limited Year ended 31 March. 2024. which are set out on pages 9- 18. This report is made solely to the Charivs Trustees. as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the ChartWs Trustees those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body. for my work or for this report. REsPE1VE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ("the Act"). The charity'5 trustees consider that an audit is not required forthis year under section 144 of the Art and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act, to follow the applicable Directions given by the Charity Commission (under section 145(51{b) of the Act, and to state whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carried out in accordance with general Directions given by the Charity Comffli55iun. Ari ex<iwiiiriaLiowi iiiclu(Jes a ieview of the accounting record5 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below.
THANET COMMUNITY DEVELOPMENT TRUST LIMITED {A Company Limited by Guarantee and a Charity) Independent Examinerfs Report For the Thanet Community Development Trust Limited Year Ended 31 March 2024 INDEPENDENT EXAMINER'S STATEMEKr In connection with my examination. no material matters have come to my attention which gives me cause to believe that in. any material respect- the accounting records were not kept in accordance with section 130 of the Charities Act- and the accounts did not accord with the accounting records- and the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connertion 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. Signed: ZEJZ Mr H C Kemp FCA Kemps Chartered Accountants 42A High Street Broadstairs Kent CTIO IJT
THANET COMMUNIry DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Statement of Financial Artivities (Incorporating Income and Expenditure Account) For the Thanet Community Development Trust Limited Year Ended 31 March 2024 Restricted Funds 2024 Total Fund5 2024 Total Funds 2023 Note INCOMING RESOURCES Incoming Resources from Generated Funds Voluntary Income Activities for Generating Funds Investment Income Other Income 262 221,641 1,703 262 221.641 1,703 7,804 210,100 590 loo TOTAL INCOMING RESOURCES 223.606 223.606 218,594 RESOURCES EXPENDED Cost of Generating Funds Direct Project Costs Governance Costs Direct costs Support costs 47,477 3,961 166,387 5.741 47.477 3.961 166.387 5,741 51,237 3,122 158,191 6,009 TOTAL RESOURCES EXPENDED 223.566 223,566 218.559 NEf SURPLUS 35 Extraordinary Items 16 22,633 22.633 Movement in totsl funds for the year - Net income/(expenditure) for the charity year 122,593) (22,593) 35 Total Funds at l April 2022 572.480 572,480 572,445 TOTAL FUNDS AT 31 MARCH 2023 549.887 549,887 572,480
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Balance Sheet As at 31 March 2023 2024 2023 Note FIXED ASSETS Tangible Assets- Non-realisable Value of Remaining Lease of Building io 447.060 452,801 CURRENT ASSETS Debtors Cash at Bank and In Hand li 29,991 155,603 4,037 193,452 185.594 197.489 CREDITORS: Amounts Falling Due Within One Year 12 82,767 77,810 NET CURRENT ASSETS 102,827 119,679 TOTAL A55ET5 LESS CURRENT LIABILITIES 549.887 572,480 NET ASSETS 549.887 572.480 CHARITY FUNDS Restricted Funds 14 549,887 572.480 TOTAL FUNDS 549,887 572,480 The Trustees consider that the Charity is entitled to exemption from the requirement to have an audit under the provisions of Section 477 of the Companies Act 20061.the Act'l and members have not required the Charity to obtain an audit for the Thanet Community Development Trust Limited Year in question in accordance with Sèction 476 of the Act. io
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Balance Sheet (continued) As at 31 March 2024 The Trustees acknowledge their responsibilities for al ensuring that the Charity keeps accounting records that comply with settions 386 and 387 of the Companies Act 2016 and bl preparing financial statements which give a true and fair view of the state of affairs of the Charity as at 31 March 2024 and of its net resources expended for the Thanet Community Development Trust Limited in accordance with the requirements of Sections 394 and 395 of the Att and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the Charity. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2CM)6 relating to charitable small companies and in accordance with the Financial Reporting Standard 102. The financial statements were approved by the Board of Trustees on behalf by: .%W. and signed on their K Sing The notes of pages 12 to 18 form part of these financial statements. li
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Notes to the Financial Statements For the Thanet Community Development Trust Limited Year Ended 31 March 2024 ACCOUNTING POUCIES Basis of preparation of financial statements The financial statements of the Charity which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial ReportinE Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151,, Financial Reporting Slaiidard FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical costs convention. Company status The Charity is a company limited by guarantee. The members of the company are the Trustees named on page 4. In the event of the Charity being wound up. the liability in respect of the guarantee is limited to £10 per member of the Charity. Fund accounting General funds are restricted. Investment income, gains and losses are allocated to the appropriate fund. Incoming Resources All incoming resources are included in the Statement of Financial Activities when the Charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability. Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third pany. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 12
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Note5 to the Financial Statements For the Thanet Community Development Trust Limited Year Ended 31 March 2024 Turnover Turnover comprises revenue recognised by the Charity in respect of goods and services supplied during the year exclusive of Value Added Tax. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less depreciation and impairment. The Trustees carry out an impairment review on an annu31 basis. Depreciation is provided at rates calculated to write off the cost of fixed assets over their expected useful lives on the following basis- Lnerm Leasehold Property snerm Leasehold Property Plant and machinery Fixtures and fittings Office equipment Other fixed assets Over remaining life of the lease Over remaining life of the lease 25% Reducing Balance 15% Reducing Balance 20% Reducing Balance 25% Reducing Balance DONATION. LEGACIES AND SIMILAR INCOMING RESOURCES Restrirted Funds 2024 Total Funds 2024 Total Funds 2023 Donatior15 262 262 7,804 A1VITIEs FOR fjENERATIN6 FUNDS Restricted Funds 2024 Total Funds 2024 Total Fund5 2023 Income from attivities 221.641 221,641 210,100 Direct Project Costs 47.477 47,477 51,237 Net income from activities for generating funds 174.164 174,164 158.863 13
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity} Notes to the Financial Statements For the Thanet Community Development Trust Limited Year Erbded 31 March 2024 INVEsfMENT INCOME Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Bank Interest Receivable 1,703 1.703 590 GOVERNANCE COSTS Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Governance Auditors, non audit costs (iovernance expense- Bank Charges 3,134 827 3,134 827 1,996 1,126 3,961 3,961 3.122 DIREcf COSTS Artivities 2024 Total 2024 Total 2023 Building Cost- Inc Rents WaRes and salaries National insurance Pension cost Bonuses 29.596 115,681 8,947 9.350 2.813 29.596 115.681 8.947 9,350 2,813 31,765 112,939 6,239 7.248 Subtotal 166,387 166.387 158,191 14
THANET COMMUNITY DEVELOPMENTTRUST LIMITED (A Company Limited by Guarantee and a Charity) Notes to the Financial Statements For the Thanet Community Development Trust Limited Year Ended 31 March 2024 SUPPORT COSTS Artivities 2024 Total 2024 Total 2023 Depreciation Bad debt 5.741 5.741 6,009 5.741 5.741 NEf OUTGOING RESOURCES This is stated after charging: 2024 2023 Depreciation of tangible fixed assets". Owned by the charity 5,741 6,C(19 Pension costs 9,350 7.248 STAFF COSTS Staff costs were as follows- 2024 2023 Wages and salaries Social security costs Other pension costs Bonuses 115,681 8.947 9,350 2,813 112.939 6,239 7,248 136,791 126.426 During the year. no Trustees received any remuneration with the exception of Ralph Hoult OBE whose services are retained on an ad hoc basis due to his unique specialist knowledge of early 15
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Ramsgate relating to the Trust's History Club and Heritage projects. In the year ended to March 2024 Ralph was paid the sum of £4,160 12023 £4.1601 which is contained within 'Direct Project Costs,. Notes to the Financial Statements For the Thanet Community Development Trust Limited Year Ended 31 March 2024 STAFF COSTS continued The average monthly number of employees during the Thanet Community Development Trust Limited Year was as follows= 2024 2023 Average Monthly Employees During the year no employee received remuneration amounting to more than £60,000. Expenses were paid to one or more Trustees during the year totalling £1,902 (2023: £1,445) for mileage, travel, use of home and broadband costs. io. TANGIBLE FIXED ASSETS L/Temi snemi Leasehold Leasehold Plant & Office Property Property Machinery Fitting5 Equipment Fixtures Other Assets Grand Total C05t At l April 2023 Additions Disposals 499,752 22.255 15,901 6,418 37,527 63,285 645.138 At 31 March 2024 499.752 22,255 15,901 6,418 37,527 63,285 645,138 Depreclailon At l April 2023 Charge for the Year Disposal 55,017 4.080 22.255 15,541 90 5,731 103 31,814 61,979 192,337 1,142 326 5,741 At 31 March 2024 59.097 22,255 15,631 5,834 32,956 62,305 198,078 Net Book Value At 31 March 2024 440.655 270 4.571 980 447,060 At 31 March 2023 444,735 360 687 5,713 1.306 452,801 16
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Notes to the Financial Statements For the Thanet Community Development Trust Limited Year Ended 31 March 2024 ii. DEBTORS Amounts falling due within one year 2024 2023 Trade debtors VAT Other debtors Prepayments and accrued income 29,112 2,768 244 635 1,269 29.991 4,037 12. CREDITORS Amounts fallrng due within one year 2024 2023 Overdrafts Trade creditors Other creditors Other taxation and social security VAT Accruals Rent deposits held Deferred income 55,790 3,341 2,738 570 3,719 806 1,970 1,180 66,827 4,462 490 2.251 1,430 15,003 82.767 77,810 13. DEFERRED INCOME Brought Forward Income Income Released Deferred Carried Forward Deferred Income 66,827 51,824 15,003 15,003 66,827 51,824 15,003 15,003 Deferred income relates to grant income received not spent out as projects are either ongoing or not scheduled until the next financial year. 17
THANET COMMUNITY DEVELOPMENT TRUST LIMITED IA Company Limited by Guarantee and a Charity) Note5 to the Financial Statements For the Thanet Community Development Trust Limited Year Ended 31 March 2024 14. STATEMENT OF FUNDS Brought Forward Incoming Resources Resources Expended Carried Forward Restricted funds Reserves 572.480 223,606 246,199 549,887 572,480 223,606 246,199 549,887 15. PENSION COMMITMENTS The Thanet Community Development Trust operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Thanet Community Development Trust in an independently administered fund. The pension cost charge represents contributions totalling £9.35012023 - £7,248). 16. ERAORDINARy ITEMS Z024 20Z3 Bank Interest Solicitor5 Overdraft fees Companies House- closure TCDC Disrupted staff time 403 2.080 1,500 io 18.640 22.633 During the period the Trustees closed a dormant company to which the Trust was linked. Because the bank account was linked to the dormant cornpany the Trust's bankers froze the current bank account and the above costs were incurred in connection with addressing this matter. Since the year end the matter has been successfully resolved and all the frozen funds returned to the trust. 18