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 charl￿S 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 compan￿5 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. REsPE￿1VE 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