GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST
(A COMPANY LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
COMPANY NUMBER: 4884318
1
CHARifY NUMBER: li(X)910
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST (A COMPANY LIMITED BY GUARANTEE)
THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| CONTENTS | Page | |
|---|---|---|
| Legal and Administrative Information | 3 | |
| Report of Directors / Trustees | 4 | |
| Accountant’s Report | To follow | |
| Statement of Financial Activities | To follow | |
| Balance Sheet | To follow | |
| Notes forming part of the Financial Statements | To follow |
3
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST Report of the Management Committee for the year ended 31 MARCH 2021
The Management Committee presents its report and audited financial statements for the year ended 31 MARCH 2021.
REFERENCE AND ADMINISTRATIVE INFORMATION
Company / Charity Name
Grand Union Village Community Development Trust
Company Registration Number 4884318 Charity registration number 1100910
Registered Office and operational address
Weaver House 6 Higham Mews Northolt Middlesex UB5 6FP
Directors / Trustees Stephen Knights - Chair Rabih Hamze Lynne Henriquez-Foster Natasha Pennie Sara White Louise Kelly Cavanagh-Bowes
Co-optees None Company Secretary Miriam Cabrera-Foster Accountant Brandt PSS Bankers HSBC
HSBC 484 Greenford Road Greenford Middlesex UB6 8SJ
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST (A COMPANY LIMITED BY GUARANTEE)
4
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 2[nd] September 2003 and registered as charity on 20[th] November 2003. The company was established under a Memorandum of Association, which established the objects and power of the charitable company and is governed under its articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Recruitment and Appointment of Management Committee
Management committee members are appointed or elected from a number of categories as stated in the Memorandums Of Articles under Membership.
Trustee Induction and Training
The Chair of the Trust inducts trustees by way of an introduction to Grand Union Village Community Development Trust. The new trustees are provided with a job description on the roles and responsibilities of being a Trustee as well as background reading on the Trust. New trustees are also guided to the regular training sessions for staff and trustees provided by Ealing Community Voluntary Service training providers and as well established for a for staff and trustees.
Risk Management
The directors/trustees actively review the risk, which the charitable company faces on a regular basis and will endeavour to maintain the reserve levels around its current figure. The review of the controls of the financial systems will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charitable company and confirm that the trustees have established systems to mitigate the significant risks.
Organisational Structure
The directors/trustees have overall authority for the charitable company, determining its strategic direction and ensuring the charitable company complies both with company and charity laws.
5
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS / TRUSTEES (continued)
Objectives and Activities
The Grand Union Village Community Development Trust aims to create a sustainable and inclusive community for those living and working in the Village and surrounding areas, through supporting economic, recreational and environmental initiatives. The Trust acts as a not for profit organisation. The intention is for this to be achieved through:
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Promoting and fostering a community spirit by communicating with and involving local residents, businesses, and private, public and voluntary partners through meet and greet events and a welcome pack, production and distribution of newsletters, development and maintenance of a community website, organisation of community and village events.
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Managing property (and land) for the social and recreational benefit of the local community, including a 550m² of community facilities, and supporting the use of land and open spaces in and around the Village.
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Supporting and managing new initiatives that further the mission of Grand Union Village, such as initiatives with Genesis, Catalyst and ASRA Housing groups, also working with Canal and Riverboat Trust around use of the canal basin
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Enabling the creation of new training and employment through encouraging local residents to take up training and employment, inviting training providers to the Village, inviting and supporting employment guidance agencies, encourage new business start-up.
Achievements and Performance
There have been steady bookings throughout the twelve months up to the end of March 2020. Continued support is given to groups who regularly use the facilities and provide training and assistance with recreation, legal or employment matters to enable them to continue running in view of the funding cuts and closures, which have already made an impact to their organisations.
Continued supporthas been given to CDT staff and volunteers enabling them to gain qualifications in Mentoring regarding money matters as well as a RSPH Understanding Health Improvement.
6
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS / TRUSTEES (continued)
We continue to produce regular electronic editions of the village newsletter using social media forums – it contains regular columns from the main stakeholders, contributions from residents if received and information including local contact details for the Registered Social Landlord, Managing Agent and CDT on the GUV.
Partnership work continues with the Greenford Broadway Safer Neighbourhood Team through providing a space for their monthly meetings and a CDT Board member having a position on the Ward Panel; this enables the CDT to offer any support or workshops where appropriate for the local area surrounding the statistics obtained through the panel.
The Trust has in excess of 950 signed up members and we look forward to this growing as existing and new residents join.
During this current reporting period resident contributions have helped towards regular annual events such as Christmas and Halloween and Easter Activities. We have also facilitated and are supporting the following groups-
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Bounce.
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Cygnet Healthcare
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Dolphin Dale – English and Maths tuition
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Robert Adeoyo
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Zumba
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Taekwondo
The Grand Union Village Community Development Trust is now well established as a hub for the local community and continues to grow as a recognised name within the London Boroughs of Ealing and Hillingdon. Its prime location straddling the two London boroughs is something, which enables the Trust to span two lots of service providers.
7
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS / TRUSTEES (continued)
Financial Review
Principal Funding Sources:
The Trusts income initially came from the S106 legal agreement with Taylor Wimpey (formerly Taylor Woodrow) and the contribution by the social landlord on the Village, Genesis Housing Group. An amount of £20 per annum from each household is collected through the service charge by Trinity Estates which the residents are able to obtain a discounted rate on the hire fees and this along with funds from hirers throughout the year contributes to the income of the Trust day-to-day running costs.
Investment & Reserve Policy:
Grand Union Village Community Development Trust at this point has not yet established a long-term policy for investment.
Responsibilities of the Management Committee
Company and Charity laws require the trustees to prepare financial statements for each financial year, 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 year. In preparing those financial statements the management committee should follow best practice and:
-
Select suitable accounting policies and then apply them consistently;
-
Make judgements and estimates that are reasonable and prudent;
-
State whether the policies adopted are in accordance with the Charities Statement Of Recommended Practice (SORP) and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements; and
-
Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
8
Company Registration No. 04884318 (England and Wales)
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST GRAND UNION VILLAGE CDT UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST ANNUAL REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
CONTENTS
PAGE
Company information 3 Accountants' report 4 Statement of financial position 5
- 2 -
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2021
Directors
Stephen Knights Rabih Hamze Lynne Henriquez-Foster Natasha Karen Pennie Sara White Louise Bowes-Cavanagh Salvatore Sparace
Company Number
04884318 (England and Wales)
Registered Office
Weaver House 6 Higham Mews Northolt Middlesex UB5 6WS United Kingdom
Accountants
Meenal Sanap, Brandt PSS Ltd. 43 Grantham House, Taywood Road Grand Union Village Northolt Middlesex UB5 6WS
- 3 -
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST FOR THE YEAR ENDED 31 MARCH 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Grand Union Village Community Development Trust for the year ended 31 March 2021 as set out on pages 5 - 6 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Grand Union Village Community Development Trust, as a body, in accordance with the terms of our engagement letter dated 18 January 2018. Our work has been undertaken solely to prepare for your approval the accounts of Grand Union Village Community Development Trust and state those matters that we have agreed to state to the Board of Directors of Grand Union Village Community Development Trust, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grand Union Village Community Development Trust and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Grand Union Village Community Development Trust has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Grand Union Village Community Development Trust. You consider that Grand Union Village Community Development Trust is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Grand Union Village Community Development Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Meenal Sanap, Brandt PSS Ltd. Chartered Certified Accountants
43 Grantham House, Taywood Road Grand Union Village Northolt Middlesex UB5 6WS
30 December 2021
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GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021
| Current assets Prepayments and accrued income Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Net assets Capital and reserves |
144,029 18,264 (1,080) |
2021 £ 161,213 161,213 161,213 161,213 |
134,042 13,690 (208) |
2020 £ 147,524 |
|---|---|---|---|---|
| 147,524 | ||||
| 147,524 | ||||
| 147,524 |
NOTES TO THE ACCOUNTS
1 Statutory information
Grand Union Village Community Development Trust is a private company, limited by shares, registered in England and Wales, registration number 04884318. The registered office is Weaver House, 6 Higham Mews, Northolt, Middlesex, UB5 6WS, United Kingdom.
2 Guarantees and other financial commitments
Financial Review�
Principal Funding Sources:�
The Trusts income initially came from the S106 legal agreement with Taylor Wimpey (formerly Taylor Woodrow) and the contribution by the social landlord on the Village, Genesis Housing Group. An amount of £20 per annum from each household is collected through the service charge by Trinity Estates which the residents are able to obtain a discounted rate on the hire fees and this along with funds from hirers throughout the year contributes to the income of the Trust day-to-day running costs.�
Investment & Reserve Policy:�
Grand Union Village Community Development Trust at this point has not yet established a long-term policy for investment.�
Responsibilities of the Management Committee:�
Company and Charity laws require the trustees to prepare financial statements for each financial year, 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 year. In preparing those financial statements the management committee should follow best practice and: �
Select suitable accounting policies and then apply them consistently;�
Make judgements and estimates that are reasonable and prudent;�
State whether the policies adopted are in accordance with the Charities Statement Of Recommended Practice (SORP) and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements; and�
Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
3 Average number of employees
- 5 -
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021 (CONTINUED)
During the year the average number of employees was 4 (2020: 3).
For the year ending 31 March 2021 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 responsibilities 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 micro-entity provisions of the Companies Act 2006 and FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 29 December 2021
Stephen Knights Director
Company Registration No. 04884318
- 6 -
Company Registration No. 04884318 (England and Wales)
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST GRAND UNION VILLAGE CDT UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST ANNUAL REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
CONTENTS
PAGE
Company information 3 Accountants' report 4 Statement of financial position 5
- 2 -
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2021
Directors
Stephen Knights Rabih Hamze Lynne Henriquez-Foster Natasha Karen Pennie Sara White Louise Bowes-Cavanagh Salvatore Sparace
Company Number
04884318 (England and Wales)
Registered Office
Weaver House 6 Higham Mews Northolt Middlesex UB5 6WS United Kingdom
Accountants
Meenal Sanap, Brandt PSS Ltd. 43 Grantham House, Taywood Road Grand Union Village Northolt Middlesex UB5 6WS
- 3 -
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST FOR THE YEAR ENDED 31 MARCH 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Grand Union Village Community Development Trust for the year ended 31 March 2021 as set out on pages 5 - 6 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Grand Union Village Community Development Trust, as a body, in accordance with the terms of our engagement letter dated 18 January 2018. Our work has been undertaken solely to prepare for your approval the accounts of Grand Union Village Community Development Trust and state those matters that we have agreed to state to the Board of Directors of Grand Union Village Community Development Trust, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grand Union Village Community Development Trust and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Grand Union Village Community Development Trust has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Grand Union Village Community Development Trust. You consider that Grand Union Village Community Development Trust is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Grand Union Village Community Development Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Meenal Sanap, Brandt PSS Ltd. Chartered Certified Accountants
43 Grantham House, Taywood Road Grand Union Village Northolt Middlesex UB5 6WS
30 December 2021
- 4 -
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021
| Current assets Prepayments and accrued income Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Net assets Capital and reserves |
144,029 18,264 (1,080) |
2021 £ 161,213 161,213 161,213 161,213 |
134,042 13,690 (208) |
2020 £ 147,524 |
|---|---|---|---|---|
| 147,524 | ||||
| 147,524 | ||||
| 147,524 |
NOTES TO THE ACCOUNTS
1 Statutory information
Grand Union Village Community Development Trust is a private company, limited by shares, registered in England and Wales, registration number 04884318. The registered office is Weaver House, 6 Higham Mews, Northolt, Middlesex, UB5 6WS, United Kingdom.
2 Guarantees and other financial commitments
Financial Review�
Principal Funding Sources:�
The Trusts income initially came from the S106 legal agreement with Taylor Wimpey (formerly Taylor Woodrow) and the contribution by the social landlord on the Village, Genesis Housing Group. An amount of £20 per annum from each household is collected through the service charge by Trinity Estates which the residents are able to obtain a discounted rate on the hire fees and this along with funds from hirers throughout the year contributes to the income of the Trust day-to-day running costs.�
Investment & Reserve Policy:�
Grand Union Village Community Development Trust at this point has not yet established a long-term policy for investment.�
Responsibilities of the Management Committee:�
Company and Charity laws require the trustees to prepare financial statements for each financial year, 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 year. In preparing those financial statements the management committee should follow best practice and: �
Select suitable accounting policies and then apply them consistently;�
Make judgements and estimates that are reasonable and prudent;�
State whether the policies adopted are in accordance with the Charities Statement Of Recommended Practice (SORP) and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements; and�
Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
3 Average number of employees
- 5 -
GRAND UNION VILLAGE COMMUNITY DEVELOPMENT TRUST STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021 (CONTINUED)
During the year the average number of employees was 4 (2020: 3).
For the year ending 31 March 2021 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 responsibilities 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 micro-entity provisions of the Companies Act 2006 and FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 29 December 2021
Stephen Knights Director
Company Registration No. 04884318
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