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2023-03-31-accounts

Charity registration number 1100911

Company registration number 04740185 (England and Wales)

JOHN POUNDS COMMUNITY TRUST LIMITED

(LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A Barrett
P C Goodship (Chair)
B Lloyd Payne
B Miller
A C North
G E Perryman
A J Pottinger (Appointed 18 May 2022)
B G Tregarthen
Secretary P C Goodship
Charity number 1100911
Company number 04740185
Principal address The John Pounds Centre
23 Queen Street
Portsea
Portsmouth
Hants
PO1 3HN
Registered office The John Pounds Centre
23 Queen Street
Portsea
Portsmouth
Hants
PO1 3HN
Auditor Jones Avens Limited
53 Kent Road
Southsea
Portsmouth
Hampshire
PO5 3HU
Bankers CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Solicitors DMH Stallard
Griffin House
135 High Street
Crawley
RH10 1DQ

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) CONTENTS

Page
Trustees report 1 - 6
Statement of trustees responsibilities 7
Independent auditor's report 8 - 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 32

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) 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

Charitable objectives

The Trust's objects are:

There has been no change in these during the year.

Aims of the Trust

The Trust shall contribute to the on-going regeneration of Portsea and the surrounding area by improving the economic and social well-being of the community.

The Trust achieves this by providing a range of services, activities, information and advice to individuals and local businesses particularly social enterprises and sole traders through the provision of the community centre, ensuring there is a safe and relaxing environment for all who attend. The overall objective shall be to promote:

Public Benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Overall performance

The impact of the COVID pandemic and the economic crisis triggered by the conflict in Europe have combined to create one of the most challenging years in the history of the Trust. On the one hand the demand in the community for the services the Trust provides has increased dramatically but on the other the cost of delivering those services has also increased dramatically, resulting in the Trust sustaining a significant operational deficit for the first time in many years despite the valiant efforts by management to reduce costs and grant assistance from several organisations.

The trustees are only too conscious of the need for the Trust to procure additional funding to plug the current gap between income and expenditure and are pursuing several initiatives in parallel.

Despite these challenging financial conditions the Trust has continued to provide support to a diverse range of community associations as well as meeting the demands of those local people requiring help and support whether that be with the basic needs of providing food for the family or with the provision of programmes to improve the health and well being of the increasing numbers of those in need who have been particularly impacted by current economic conditions. The need for strong partnerships with other stakeholders continues to be of paramount importance and the Trust has enjoyed particular success with a wide range of organisations as described in more detail below.

Alongside its programmes delivered from the John Pounds Centre, the Trust has successfully completed Phase 2 of the regeneration of the former Treadgold Ironmongers premises achieving many prestigious awards and which has provided to be a hugely popular venue for community events. The Trust has continued with its planning for the final phase of the regeneration programme seeking grant funding from the National Lottery Heritage Fund to finalise its proposals.

Achievements and performance

Community Programme

The community programme expanded significantly. This included launching a Portsea Winter Warmers programme, offering Warm Spaces and activities funded through Awards for ALL, and running 6 weeks of HAF summer holiday activities providing food and activity for children 5yrs-12 yrs.

Food programmes were strengthened by partnering and supporting the launch of the Portsea Pantry, a service delivered from the Centre providing an affordable weekly shop for Portsea residents, PAG (Portsea Action Group, Portsea Community Association) reaching residents in need of support, with a particular focus on those residents less mobile and isolated. The centre also supported PAG with the operational set up of their new Portsea Community Hub located nearby to the centre. FoodCycle Portsmouth continued to deliver free community hot meals, and The Centre worked with the resident community group on holiday hampers and developing a social programme. ‘Food and Friendship’ supported isolated residents through small group activity in a warm and safe space. Work began with MAKE Portsmouth (Aldingbourne Trust) delivering café and banqueting services.

The Centre hosted a number of multi-cultural meetings and celebrations over the year, working with such organisations locally as Portsmouth Gambian Association, Kurdish Portsmouth Home and the South Coast Anatolian Community Association.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Healthy Living Scheme

The Healthy Living Scheme worked hard to resurrect relationships and referrals paths after the closures caused by the Covid pandemic. The scheme saw increased demand, including GP and hospital referrals. Services expanded to support diabetes, obesity, cardiac rehab, long Covid rehab, and cancer rehabilitation. Client testimonials showed excellent progress supporting people with confidence building, weight loss, and safely increasing activity levels.

The daily programme of fitness classes and gym based work, focused on those residents needing support and guidance returning to exercise after the pandemic.

A well-attended community Wellbeing and Cancer Awareness event was held in partnership with Cancer UK and NHS Portsmouth, the event included professional guest speakers.

Other events included work with the Mental Health Network, Hampshire and Isle of Wight Integrated Care Board, Portsmouth Hospital University NHS Trust, Health and Social Portsmouth and Portsmouth Hive running ‘Live well in Portsea’ events, bringing resident support services to the centre.

Art and creative based activity was sought this year, reacting to local feedback, requesting such activity to support good mental health and help prevent isolation and loneliness.

Working with the city’s Community Connectors, the staff have seen the benefit of these programmes and regularly visit and refer into our programmes.

The NHS Research Hub celebrated 3 years at the centre and is working to deliver further initiatives in partnership with the Trust, community association and residents.

Treadgolds Warehouse and community garden

The Treadgolds project won several prestigious awards in 2022 - RIBA South Award winner, SPACES award winner, and shortlisted for the AJ Small Project Award and RIBA Journal MacEwan Awards.

The Trust met with the Regional Officer of the Heritage Lottery Fund to tour the site and discuss the possible next steps for the Treadgolds development.

The Historic Places Panel, facilitated by Historic England, chose Treadgolds to host their 2 day national strategy meeting, with a focus on Portsmouth.

Treadgolds continues to attract strong interest from Heritage and creative organisations keen to be part of future developments.

In addition, Treadgolds hosted community theatre performances, local church meetings, afternoon tea and art for local residents, yoga and wellbeing events, art workshops with WEA (adult learning courses) and weekly volunteer gardening groups.

The garden and warehouse space has proven very popular with local groups and organisations. The warehouse house has hosted art exhibitions with MAKE (working with adults with learning disabilities).

Financial review

The Trust reported a net deficit for the year of £113,843 comprising a deficit on unrestricted funds of £27,016, a deficit on designated funds of £61,910, and a deficit on restricted funds of £24,917. This compares with a surplus of £7,309 on total funds for the year ended 31 March 2022.

At 31 March 2023 fund balances carried forward comprised general unrestricted funds in surplus of £350, designated funds in surplus of £229,718 and restricted funds in surplus of £440,348.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has not been maintained throughout the year. In the short term the trustees would be able to access the Designated Renewals fund to the extent that they have not been spent but this is far from ideal and the trustees will continue to seek to identify ways of improving reserves.

Facilities Hiring’s were secured from Trinity College London, Wavesmash Gaming Club, University of Portsmouth and the NHS Blood Donor Service. Society of St James joined the centre delivering a programme of training for their staff and J2S Training continues to work with the centre delivering training for NHS front line staff.

Over the year, the centre has actively sought funding to support its community programmes and operations. Successful applications included HAF (Holiday activity and food) for children’s holiday activities, Awards for All for warm spaces, Asda Community Fund for warm spaces, Montagu Neville Durnford and Saint Leo Cawthan Memorial Trust for art and health activities and Portsmouth Partnership for a community gallery wall.

Risk factors

The trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Reserves are in place which could continue to cover the core expenditure, while new sources of funding are being sought to continue and grow existing projects.

Plans for future periods

The Trust approved the Install of LED lighting in high traffic areas to help address the rise in energy costs.

The management team are working on a timetable of fund raising to support the Centre’s community programme, helping residents with the challenges of the cost of living crisis and to support their health and wellbeing.

Development of the next phase of the Treadgolds development advanced over the year, with work underway on a Heritage Lottery Fund submission supporting business planning and development.

The Trust aims to partner with arts and creative organisations to strengthen the Centre’s and Treadgold’s offer.

Structure, governance and management

Governing Document

The Trust was incorporated on 22 April 2003 and is a private company limited by guarantee (Company number 4740185). The Trust is also a registered charity (Number 1100911). The Registered office and principal address of the charity is The John Pounds Centre, 23 Queen Street, Portsea, Portsmouth, Hampshire, PO1 3HN.

The Trust is governed by its Articles and Memorandum of Association which grant wide powers of investment to the Trustees.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) 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:

A Barrett D W Glavin (Resigned 31 March 2023) P C Goodship (Chair) B Lloyd Payne B Miller A C North G E Perryman A J Pottinger (Appointed 18 May 2022) B G Tregarthen

Recruitment and Appointment of trustees

The Trust requires a minimum of 5 members who can be nominated by a number of prescribed local organisations. Ultimately the decision as to whether or not to appoint a new member rests with the Trustees. Trustees attend an annual Strategic Away Day which focus on the obligations of the trustee within the Charity sector. The Trustees also have access to induction training provided through an external training provider and continued online training through the Charity Commission website and solicitor newsletters.

Qualifying third party indemnity provisions

The Trust maintains insurance policies on behalf of all the trustees against liability arising from negligence, breach of duty and breach of trust in relation to the Trust.

Members obligations

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.

Safeguarding

The Trust is committed to ensuring robust safeguarding arrangements to protect all vulnerable people including children, young people and disadvantaged young adults, who use the centre, from harm. Staff (including volunteers and trustees) receive information regarding the Trust's Safeguarding Policy, ongoing training and checks for criminal records before they have unsupervised access to children or vulnerable people. Any Safeguarding or Child Protection incidents are reportable to the Centre Director who will take the necessary action as required. The following guidelines are followed to facilitate this Safeguarding Policy:

The Trust undertook a review of its Sageguarding procedures and published updated policies for staff and coaches.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Organisational structure

The Trustees, who are also directors, delegate the day-to-day operation of the Centre to the Centre manager, Matt Mason, and his staff. Within the John Pounds Centre, the organisation is divided as follows:

The trust also sources regular external bookkeeping support.

These functions report directly to the Centre Manager.

Significant decisions require a report to be written by the Centre Manager and presented to the Board of Trustees for voting, before any action is taken. The approval of all contracts must be signed by the Chair and one other trustee.

Auditor

In accordance with the company's articles, a resolution proposing that Jones Avens Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees report was approved by the Board of Trustees.

P C Goodship (Chair) Trustee

21 November 2023

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

The trustees, who are also the directors of John Pounds Community Trust Limited for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOHN POUNDS COMMUNITY TRUST LIMITED

Opinion

We have audited the financial statements of John Pounds Community Trust Limited (the ‘trust’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 25 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the trust’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF JOHN POUNDS COMMUNITY TRUST LIMITED

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the trust and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees responsibilities, the trustees, who are also the directors of the trust for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF JOHN POUNDS COMMUNITY TRUST LIMITED

Identification and assessment of irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We designed procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures were capable of detecting irregularities, including fraud is detailed below:

Audit response to the risk of irregularities including fraud

Based on the results of our risk assessment, our procedures included, but were not limited to:

Conclusions regarding the risks of irregularities including fraud

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

We considered our audit was capable of detecting irregularities due to:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF JOHN POUNDS COMMUNITY TRUST LIMITED

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Timothy Millett FCA (Senior Statutory Auditor) for and on behalf of Jones Avens Limited

21 November 2023

Chartered Accountants Statutory Auditor

53 Kent Road Southsea Portsmouth Hampshire PO5 3HU

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Unrestricted
Restricted
Total Unrestricted Unrestricted
Restricted
funds
funds
funds
funds
funds
funds
general
designated
general
designated
2023
2023
2023
2023
2022
2022
2022
Notes
£
£
£
£
£
£
£
Income from:
Donations and legacies
3
352,882
192
37,574
390,648
384,672
12,125
53,715
Incoming resources from charitable activities
4
257,800
750
-
258,550
247,059
425
-
Investment income
5
1,741
-
-
1,741
39
-
-
Total income
612,423
942
37,574
650,939
631,770
12,550
53,715
Expenditure on:
Charitable activities
6
647,954
65,956
50,872
764,782
583,254
67,321
40,151
Net (outgoing)/incoming resources before transfers
(35,531)
(65,014)
(13,298)
(113,843)
48,516
(54,771)
13,564
Gross transfers between funds
13
8,515
3,104
(11,619)
-
(27,655)
51,155
(23,500)
Net (expenditure)/income for the year/
Net movement in funds
(27,016)
(61,910)
(24,917)
(113,843)
20,861
(3,616)
(9,936)
Fund balances at 1 April 2022
27,366
291,628
465,265
784,259
6,505
295,244
475,201
Fund balances at 31 March 2023
350
229,718
440,348
670,416
27,366
291,628
465,265		 Total
2022
£
450,512
247,484
39
698,035
690,726
7,309
-
7,309
776,950
784,259

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) BALANCE SHEET

AS AT 31 MARCH 2023

2023
Notes
£
Fixed assets
Tangible assets
14
Current assets
Debtors
15
37,513
Cash at bank and in hand
291,898
329,411
Creditors: amounts falling due within
one year
16
(101,231)
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
18
Unrestricted funds
Designated funds
19
229,718
General unrestricted funds
350		 £
442,236
228,180
670,416
440,348
230,068
670,416		 2022
£
54,292
356,465
410,757
(90,276)
291,628
27,366		 £
463,778
320,481
784,259
465,265
318,994
784,259

The financial statements were approved by the Trustees on 21 November 2023

P C Goodship (Chair) Trustee

Company registration number 04740185

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
23
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(3,648)
1,741		 £
(62,660)
(1,907)
-
(64,567)
356,465
291,898		 2022
£
(50,171)
39		 £
16,623
(50,132)
-
(33,509)
389,974
356,465

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

John Pounds Community Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The John Pounds Centre, 23 Queen Street, Portsea, Portsmouth, Hants, PO1 3HN.

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 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)". The trust is a Public Benefit Entity as defined by FRS 102.

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.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors 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.

Donated services and facilities are included at estimated market value being the estimated values of the services or facility received.

Grants receivable from government and charitable foundations are taken to income when the conditions for receipt are met. Grants are deferred if the donor specifies that the expenditure must be incurred at a later date.

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it is receivable.

Membership subscriptions are recognised when received.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Charitable expenditure comprises those costs incurred by the Trust in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Trust and include the audit fees and costs linked to the strategic management of the Trust.

All costs are allocated directly between the expenditure categories of the accounts on a basis designed to reflect the use of the resource.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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 bases:

Land and buildings Phase one - Over 5 years Phase two - Over 50 years Plant and machinery 25% Reducing balance Fixtures, fittings & equipment 25% Reducing balance Computers 33.33% Straight line Motor vehicles 25% Reducing balance

Assets in the course of construction are not depreciated.

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 Impairment of fixed 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).

1.8 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.

1.9 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.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors 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 creditors 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 creditors 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 creditors 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.

1.10 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.

1.11 Retirement benefits

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

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.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

3 Donations and legacies

Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
£
£
£
Donations and gifts
-
192
-
Core funding grants
68,091
-
37,574
Donated goods and services
284,791
-
-
352,882
192
37,574
Grants receivable for core activities
Portsmouth City Council - Core grant
43,126
-
-
Portsmouth City Council - Service charge grant
24,965
-
-
The National Lottery
-
-
9,800
Hampshire and Isle of Wight Community Foundation
-
-
9,864
Coronavirus Job Retention Scheme
-
-
-
Power to Change Grant
-
-
10,000
Portsmouth City Council
-
-
6,910
Action Hampshire
-
-
-
Other
-
-
1,000
68,091
-
37,574		 Total
Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2022
2022
2022
£
£
£
£
192
-
12,125
-
105,665
99,881
-
53,715
284,791
284,791
-
-
390,648
384,672
12,125
53,715
43,126
43,126
-
-
24,965
24,965
-
-
9,800
-
-
9,600
9,864
-
-
5,000
-
19,790
-
-
10,000
-
-
-
6,910
12,000
-
36,665
-
-
-
2,450
1,000
-
-
-
105,665
99,881
-
53,715		 Total
2022
£
12,125
153,596
284,791
450,512
43,126
24,965
9,600
5,000
19,790
-
48,665
2,450
-
153,596

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

(Continued)

Donated goods and services

The Trust occupies premises provided by Portsmouth City Council (PCC). In addition PCC maintain the structure of the building. These benefits which have been quantified in the sum of £284,791 have been included as both income and expenditure in the accounts, the former on the basis of an estimate of commercial rent, the latter according to planned maintenance survey figures.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

4 Incoming resources from charitable activities

Community Community
support support
facilities facilities
2023 2022
£ £
Provision of community centre facilities 258,550 247,484
Analysis by fund
Unrestricted funds - general 257,800 247,059
Unrestricted funds - designated 750 425
258,550 247,484

Charitable trading income

The Trust's main activity is the provision of a community centre with income generated through the hire of the facilities by community groups, residents and medical providers.

5 Investment income

**Unrestricted ** Unrestricted
funds funds
general general
2023 2022
£ £
Interest receivable 1,741 39

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

6 Charitable activities

Community Community
support support
facilities facilities
2023 2022
£ £
Staff costs 232,996 202,275
Depreciation and impairment 25,193 28,371
Activity and coaching costs 22,718 16,279
280,907 246,925
Share of support costs (see note 8) 477,345 438,424
Share of governance costs (see note 8) 6,530 5,377
764,782 690,726
Analysis by fund
Unrestricted funds - general 647,954 583,254
Unrestricted funds - designated 65,956 67,321
Restricted funds 50,872 40,151
764,782 690,726

7 Description of charitable activities

Community support facilities

Through the provision of a community centre, the Trust offers health and wellbeing support to the local community and the hire of its facilities to various groups and organisations.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

8 Support costs


Operating lease charges
Marketing
Premises costs
Administration
Staff related costs
Finance costs
Bad and doubtful debts
General expenditure
Audit fees
Legal and professional
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
5,630
-
20
-
433,635
-
31,188
-
958
-
1,553
-
60
-
4,301
-
-
5,930
-
600
477,345
6,530
477,345
6,530		 2023

£
5,630
20
433,635
31,188
958
1,553
60
4,301
5,930
600
483,875
483,875		 Support
costs
Governance
costs
£
£
5,730
-
3,495
-
386,682
-
35,930
-
1,839
-
1,376
-
-
-
3,372
-
-
5,377
-
-
438,424
5,377
438,424
5,377		 2022
£
5,730
3,495
386,682
35,930
1,839
1,376
-
3,372
5,377
-
443,801
443,801

The trustees consider that all support and governance costs should be allocated to the charitable activities of the Trust.

Support costs include payments to the auditor of £21,600 (2022- £20,110) for management accounting and bookkeeping services.

Governance costs includes payments to the auditors of £5,930 (2022- £5,377) for audit fees.

9 Net movement in funds 2023 2022
£ £
Net movement in funds is stated after charging/(crediting)
Fees payable to the company's auditor for the audit of the company's financial
statements 5,930 5,377
Depreciation of owned tangible fixed assets 25,192 28,371
Operating lease charges 5,630 5,730

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year, and none of them were reimbursed expenses (2022- none were reimbursed).

During the year the Trust paid, as part of its insurance costs, a proportion in respect of insurance to protect the Trust from loss arising from the neglect or defaults of its Trustees and indemnify the Trustees against consequences of any neglect or default on their part.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

11 Employees

The average monthly number of employees during the year was:

Charitable
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
11
2023
£
212,808
16,179
4,009
232,996		 2022
Number
12
2022
£
185,542
13,281
3,452
202,275

Including a full-time equivalent number of staff of 7 (2022: 8).

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

12 Taxation

The income of the Trust is exempt from charge to tax in accordance with the provisions of the Corporation Tax Act 2010 and the Taxation of Chargeable Gains Act 1992.

13 Transfers

A total transfer of £8,515 was made to unrestricted funds from various restricted funds during the year representing rent, room hire and administration fees for running projects.

Finally, a transfer was made from Fixed Asset restricted fund to Fixed Asset designated fund of £3,104 representing the net book value of assets whose restriction condition has been completed.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

14
Tangible fixed assets
Land and
buildings
Plant and
machinery
Fixtures,
fittings &
equipment
Computers Motor vehicles
£
£
£
£
£
Cost
At 1 April 2022
429,362
134,398
29,547
25,228
12,900
Additions
-
2,998
-
650
-
At 31 March 2023
429,362
137,396
29,547
25,878
12,900
Depreciation and
impairment
At 1 April 2022
23,966
103,604
14,052
14,343
11,690
Depreciation charged in the
year
8,265
8,272
3,877
4,476
302
At 31 March 2023
32,231
111,876
17,929
18,819
11,992
Carrying amount
At 31 March 2023
397,131
25,520
11,618
7,059
908
At 31 March 2022
405,395
30,793
15,495
10,885
1,210
15
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
15,831
Other debtors
5,374
Prepayments and accrued income
16,308
37,513		 Total
£
631,435
3,648
635,083
167,655
25,192
192,847
442,236
463,778
2022
£
29,862
7,215
17,215
54,292

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
55,224
17,488
28,519
101,231		 2022
£
47,481
16,204
26,591
90,276

Included within other creditors are monies held as agents. John Pounds Coummunity Trust have no input into the generation of income or expenditure of these funds, they are merely holding the money on behalf of a third party. The following is an analysis of monies held as agents:

Movement in funds Movement in funds
Balance at 1 Incoming Resources Transfers Balance at 31
April 2022 resources expended March 2023
£ £ £ £ £
Top Tots 513 - (98) - 415
513 - (98) - 415

17 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 £4,009 (2022 - £3,452).

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 April 2021
r
£
Fixed Assets
Fixed Asset fund
408,194
Reviving Treadgold building (cash fund)
43,401
Other Funds
Communities Against Cancer
-
HIWCF
8,342
Pocket Parks Plus
9,837
Asda Foundation
-
HIVE Portsmouth
-
Portsmouth City Council
5,427
Power to Change
-
The National Lottery Community fund
-
475,201		 Movement in funds
Incoming
esources
Resources
expended
£
£
-
(17,126)
-
-
2,450
(131)
5,000
(6,148)
-
(169)
-
-
-
-
36,665
(15,122)
-
-
9,600
(1,455)
53,715
(40,151)		 Transfers
Balance at
1 April 2022
r
£
£
22,130
413,198
(30,625)
12,776
-
2,319
(7,194)
-
-
9,668
-
-
-
-
(6,611)
20,359
-
-
(1,200)
6,945
(23,500)
465,265		 Movement in funds
Incoming
esources
Resources
expended
£
£
-
(10,199)
-
(684)
-
(2,119)
9,864
(5,072)
-
(586)
500
(33)
500
-
6,910
(18,436)
10,000
(5,000)
9,800
(8,743)
37,574
(50,872)		 Transfers
Balance at
31 March 2023
£
£
546
403,545
-
12,092
(200)
-
(935)
3,857
(652)
8,430
-
467
-
500
(8,278)
555
-
5,000
(2,100)
5,902
(11,619)
440,348		 Transfers
Balance at
31 March 2023
£
£
546
403,545
-
12,092
(200)
-
(935)
3,857
(652)
8,430
-
467
-
500
(8,278)
555
-
5,000
(2,100)
5,902
(11,619)
440,348
440,348

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

18 Restricted funds

(Continued)

Fixed Asset fund

This fund has been set aside to account for all assets purchased using restricted funds and comprises the net book value of these assets at the year end.

Reviving Treadgold building (cash fund)

Funding provided by Portsmouth City Council towards the restoration costs of the Grade II listed Treadgold building. This created a new multi use space, meeting room and ancillary spaces for the community use. Ongoing building costs continue to be funded.

Communities Against Cancer

Funded by Wessex Cancer Alliance and administered by Action Hampshire through their Communities Against Cancer programme. Funding was used for a one day event within the community to raise general awareness of cancer and is now completed.

HIWCF

The following are funds administered by Hampshire and Isle of Wight Community Foundation:

Pocket Parks Plus

Funding through Portsmouth City Council from The Ministry of Housing, Communities and Local Government to refurbish parks where people can relax, exercise, socialise and play.

Asda Foundation

Funding provided towards the Warm Welcome project by offering hot refreshments and activities to the local Portsea residents.

HIVE Portsmouth

Funding from the the Portsmouth Community Lottery administered by HIVE Portsmouth to run a Warm Welcome Place programme. This is open to Portsea residents to offer a warm space with hot refreshments and activities to socialise.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

18 Restricted funds

(Continued)

Portsmouth City Council

The following are funds administered by Portsmouth City Council:

Power to Change

Funding through the Power to Change Resilient Communities Fund. The funding is to provide support for increased energy bills allowing for uninterrupted daily operation of the centre.

The National Lottery Community Fund

The following are funds administered by The National Lottery Community Fund:

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

19 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
1 April 2021
r
£
Renewals fund
133,395
Social Enterprise fund
10,000
Project closure costs fund
15,934
Treadgold fund
1,509
COVID recovery fund
87,866
Foodcycle fund
4,147
Food Portsmouth Fund
8,612
Holiday Activity Fund
-
Fixed Asset fund
33,781
295,244		 Movement in funds
Incoming
esources
Resources
expended
£
£
12,023
-
-
-
-
-
-
(20,751)
-
(33,688)
527
(1,316)
-
(325)
-
-
-
(11,241)
12,550
(67,321)		 Transfers
Balance at
1 April 2022
r
£
£
13,519
158,937
-
10,000
-
15,934
19,242
-
(9,646)
44,532
-
3,358
-
8,287
-
-
28,040
50,580
51,155
291,628		 Movement in funds
Incoming
esources
Resources
expended
£
£
-
(7,296)
-
-
-
-
-
-
-
(41,535)
267
(1,421)
-
(711)
675
-
-
(14,993)
942
(65,956)		 Transfers
Balance at
31 March 2023
£
£
-
151,641
-
10,000
-
15,934
-
-
-
2,997
-
2,204
-
7,576
-
675
3,104
38,691
3,104
229,718		 Transfers
Balance at
31 March 2023
£
£
-
151,641
-
10,000
-
15,934
-
-
-
2,997
-
2,204
-
7,576
-
675
3,104
38,691
3,104
229,718
229,718

Renewals fund

The renewals fund has been set up to cover the cost of replacing computers and equipment based on a 10 year renewal programme, which is essential if the Centre is to exist in the long term. The trustees have directed that if available a sum of up to £25,000, but not exceeding unrestricted funds surplus, be put aside each year out of the general unrestricted funds for this purpose.

Social Enterprise fund

The social enterprise fund is to assist the development of business established by local residents within the Centre.

Project Closure Costs fund

The project closure cost fund will enable the Trust to continue to provide services for a period beyond that covered by the grant, whilst actively seeking new sources of funding.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

19 Designated funds

(Continued)

Treadgolds fund

This fund has been set aside to provide ongoing support towards the new Treadgolds building which will be used for the delivery of services which are core to the Trusts objectives.

COVID Recovery fund

Funding set aside to help with transition back to normal centre services over the next five years.

Foodcycle fund

This fund has been set aside to support the ongoing operation of the foodcycle project through donations and contributions from "kitchen takeovers" and fundraising by the Trust.

Food Portsmouth fund

This fund has been set aside to help support future workshops and events in the community and is funded by donations and fundraising by the Trust.

Holiday Activity fund

Through additional contributions, this fund will help to support school children with meals and activities during school holiday periods.

Fixed Asset fund

This fund is an amount equivalent to the net book value of unrestricted fixed assets.

20 Analysis of net assets between funds

Unrestricted
funds
Designated
funds
Restricted
funds
2023
2023
2023
£
£
£
Fund balances at 31 March 2023 are represented
by:
Tangible assets
-
38,691
403,545
Current assets/(liabilities)
350
191,027
36,803
350
229,718
440,348		 Total Unrestricted
funds
Designated
funds
Restricted
funds
2023
2022
2022
2022
£
£
£
£
442,236
-
50,580
413,198
228,180
27,366
241,048
52,067
670,416
27,366
291,628
465,265		 Total
2022
£
463,778
320,481
784,259

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

21 Operating lease commitments

Lessee

At the reporting end date the trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023 2022
£ £
Within one year 776 1,175

Lessor

The operating leases represent subleases to third parties. The leases are negotiated over terms of 1 year to 10 years and rentals are fixed over the term of the lease. All leases are not continuous at their end date and must be renewed to allow continued occupation.

At the reporting end date the total future minimum sublease payments expected to be received under noncancellable subleases was

2023 2022
£ £
Within one year 7,800 -

22 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023 2022
£ £
Aggregate compensation 49,504 45,312

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

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

23
Cash generated from operations
2023
£
(Deficit)/surpus for the year
(113,843)
Adjustments for:
Investment income recognised in statement of financial activities
(1,741)
Depreciation and impairment of tangible fixed assets
25,192
Movements in working capital:
Decrease/(increase) in debtors
16,778
Increase in creditors
10,954
Cash (absorbed by)/generated from operations
(62,660)		 2022
£
7,309
(39)
28,371
(19,661)
643
16,623

24 Analysis of changes in net funds

The trust had no debt during the year.

25 Auditor's Ethical Standards

The relevant circumstances requiring disclosure in accordance with the requirements of the FRC Revised Ethical Standard 2019 - Provision Available for Audits of Small Entities are that, in common with many charities of our size and nature we use our auditors to assist with the preparation of the accounts.