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← John Pounds Community Trust Limited

2024-03-31-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 2024

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

Trustees A Barrett
P C Goodship
B Lloyd Payne
A C North
G E Perryman
A J Pottinger
A Mortlock (Appointed 1 January 2024)
L M Wilder (Appointed 1 January 2024)
Secretary P C Goodship
Senior management P C Goodship Chair
Charity number 1100911
Company number 04740185
Principal address The John Pounds Centre
23 Queen Street
Portsea
Hants
Portsmouth
PO1 3HN
Registered office The John Pounds Centre
23 Queen Street
Portsea
Hants
Portsmouth
PO1 3HN
Auditor Sumer Audit
53 Kent Road
Southsea
Hampshire
United Kingdom
PO5 3HU
Bankers CAF Bank Limited
25 Kings Hill Avenue
West Malling
Kent
ME19 4JQ
Solicitors DMH Stallard
Griffin House
135 High Street
Crawley
West Sussex
RH10 1DQ

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) CONTENTS

Page
Trustees report 1 - 7
Statement of trustees responsibilities 8
Independent auditor's report 9 - 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 31

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

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 and Treadgolds, 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.

Activities

Trustees Action Plan

The Board created an Action Plan focussing on income generation and community delivery.

The Plan’s objectives included Harvesting Trustee Business Networks, Lease and Service Agreements, Funding Applications, Community Initiatives and Marketing and Promotions.

Marketing & Promotions

Trustees set up a Marketing Sub Group connecting potential partners with the Centre and Treadgolds.

The Trust supported the Launch of the new charity City Arts Portsmouth hosting the launch and promoting the crowd funder. The Trust now works with City Arts Portsmouth on community art based activity.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The Management team run the Trust’s social media content including, Conference Space, Gym Deals and community services e.g. Portsea Pantry, FoodCycle Portsmouth and HAF Pompey.

The Trust has begun to explore Sponsorship opportunities.

Tenants

The Centre continues to host the Top Tots Nursery, Swan Advocacy and the Portsmouth University Hospitals NHS Research Hub, alongside the City Council's area housing office, library and youth service.

New this year - the Aldingbourne Trust agreed terms for running the Centre’s café and banqueting services.

Volunteers

GoodGym Portsmouth and King’s Trust have both been working on the grounds and community garden.

The Trust welcomed year 10 students on work experience.

FoodCycle Portsmouth continues to welcome 40 plus guests to the centre weekly.

Portsea Pantry, the team of resident volunteers provide a weekly shop for over 200 residents per week.

Treadgolds Community garden, a weekly team of volunteers grow for the local community and maintain the garden.

This Year the Trust began a new partnership with King’s Trust providing work experience for young people moving into work.

The Aldingbourne Trust and MAKE Portsmouth provide work experience through the Centre’s Café. The Aldingbourne Trust is dedicated to helping local businesses, communities and people with learning disabilities and / or autism to enjoy life, together.

Achievements and performance

Significant activities and achievements against objectives

Community Programme

Portsea Events Group (PEG) - The Trust supported PEG to deliver community events this year including the King's Coronation, children’s Christmas breakfast and summer carnival. The Carnival welcomes 500 residents to the event and the Christmas breakfast provided 100 breakfasts and activities from the centre for our local children.

Holiday Activities and Food Portsmouth(HAF) – the Centre ran holiday activities and provides hot meals for those in most need aged 7yrs-12yrs. The programme provided 425 hot meals and 325 free child’s places. HAF Community Family Fun day attracted 100 families for a day of activity and food.

The Centre Hosts the Portsea Pantry who alongside providing food and friendship, welcome a number of community support organisations to their session, under the banner ‘Living Well in Portsea’ the events connect residents with local services.

Based at the centre, ‘I Love to Learn’ provides a summer school combining academic study with sport & activity.

With the support of the National Lottery Fund – the Café and warm space underwent a refresh with new equipment and décor. Essential Food and toiletries were distributed via the Pantry to local residents of Portsea in most need.

The Healthy Living Scheme introduced new fitness classes focussed on the health needs of the local people. The sessions focussed on mobility, strength and balance to help promote independence and prevent falls. Guided gym sessions for those with visual impairment were successfully introduced. The scheme continues to receive referrals from the local hospital and GPs. The Centre continues to subsidise sessions to promote participation.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Emergency Rest Centre

As the area's emergency rest centre, the management team were informed by the local authority Housing team of the imminent evacuation of Sarah Robinson House, a Portsea housing block, due to a gas leak. Portsmouth City Council’s emergency response team with the help of the Trust’s management team coordinated the incident.

The Rest Centre team used a variety of rooms to make individuals and families comfortable over 2 nights and daily over an additional 10 days whilst the incident was resolved

Treadgolds

After extensive restoration work by a local artist and benefactor the Treadgolds lion was placed over the front door of Treadgolds once more.

With the support of the Heritage Lottery Fund – the Treadgolds ‘Renaissance Project ‘started work on the feasibility study for Treadgolds future use.

The Treadgolds Warehouse hosted various events over the year including art and pottery exhibitions, photography workshops, creative dance courses, plays and musical recitals, community parties and meetings.

King’s Trust and BAE Systems came together at Treadgolds to run a day of workshops for young adults.

Podcasts, interviews and discussion on local issues were broadcast from Treadgolds.

9 Mind Productions, entered a national competition for small films and chose Treadgolds as their venue.

Work Better Innovations, a monthly networking event for business people in the city, running Saturdays in Treadgolds.

Groundlings Theatre, chose Treadgolds to run their show rehearsals.

Resonate exhibition – local artist ran a 4 day exhibition and workshops.

Christ Central Church Carol Concerts took place at Treadgolds.

Red Sauce Theatre Company, a local company working with adults with learning difficulties performed Scrooge at Treadgolds in December.

Centre Works

Energy management and conservation

The Trust reviewed its energy consumption and related energy efficiencies.

This included looking at new energy contracts and energy saving initiatives such as LED lighting and efficient heating systems.

LED Lighting was installed in high usage areas.

Events, Meetings and Training Days

The centre received support and repeat business from the Kings Trust, Integrated Wellbeing Board, Hive Portsmouth, Society of St James, NHS Blood Donor Service, Christ Central Church, Lymphoma Association, Trinity College London, Portsmouth Hospitals amongst others.

Financial review

The Trust reported a net surplus for the year of £1,485 comprising a surplus on unrestricted general funds of £4,099, a deficit on unrestricted designated funds of £22,123, and a surplus on restricted funds of £19,509. This compares with a deficit of £113,844 on total funds for the year ended 31 March 2023.

At 31 March 2024 fund balances carried forward comprised general unrestricted funds in surplus of £4,448, designated funds in surplus of £207,595 and restricted funds in surplus of £459,857.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Reserves policy

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 funds to the extent that they have not been spent but this is far from ideal. At the year end unrestricted reserves (excluding fixed asset designated fund) amounted to £162,139, covering 2.9 months of expenditure, which falls short of the required policy.

The trust is in negotiation with the City Council with a view to securing a market rent for the spaces it occupies within the community centre and an increased recovery of costs the trust incurs in maintaining such spaces. Assuming a satisfactory outcome of these negotiations the trust should be in a position to adhere to its reserves policy.

Going Concern

As noted elsewhere within this report, the trust is in negotiation with the City Council regarding future rents and service charges. In the event that these negotiations were not to succeed, the trust has the option to transfer the centre and the employees over to the City Council. This would leave the trust with a significantly reduced overhead on the one hand and Treadgolds on the other from which it can undertake its charitable work. On this basis the trustees consider the charity to be a going concern.

Principal funding sources

The Trust was successful in securing,

Major risks

The trustees are responsible for ensuring that there are effective risk management systems in place alongside internal controls to manage the major risks. The trustees continually assess the major risks to which the trust is exposed and where appropriate systems or procedures have been established to mitigate the risks the trust face. The trustees are satisfied that systems are in place to mitigate exposure to the major risks.

The significant majority of risks are reviewed as a matter of routine e.g. staff movements, safeguarding, financial performance, competition, government policy, health and safety etc with any other being raised through board meetings.

External risks to funding are reviewed regularly while new sources of funding are sought to continue to grow existing projects. This is undertaken by the finance team. Internal control risks are minimised by the implementation of procedures for authorisation of transactions and projects.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Plans for future periods

As mentioned above the trust is in detailed discussion with the City Council to ensure that the financial model for running the community centre is robust, this remains the trust's immediate priority.

Work continues on the redevelopment of Treadgolds.

Capital grants are being sought to support the upgrade of the centre’s plant and machinery with the aim of reducing the buildings running costs.

The Trust are working with the Portsea Youth Service to examine the need for activity and provision for young people outside of school hours.

Structure, governance and management

Governing Document

The Trust was incorporated on 22 April 2003 and is a private company limited by guarantee (Company number 04740185). 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.

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 P C Goodship B Lloyd Payne B Miller (Resigned 31 March 2024) A C North G E Perryman A J Pottinger B G Tregarthen (Resigned 31 March 2024) A Mortlock (Appointed 1 January 2024) L M Wilder (Appointed 1 January 2024)

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.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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.

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.

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.

Relationship with wider network

The Trust has worked with the following this year, Director of Housing, Neighbourhood &. Building Services, Energy assessors - solar and utilities, Cabinet Member for Housing, Cllrs for Charles Dickens Ward, Director of Culture, and Leisure & Regulatory. Services, MP Member of Parliament for Portsmouth South, HLF Project Manager, Pritchard Architects Specialist Conservation Architects, Portsea Housing Officers, Libraries Manager, Youth Clubs Manager South of City, Hospital University NHS Trust Research Hub, Aldingbourne Trust (MAKE Portsmouth) Head of enterprise and development, HIVE Portsmouth, Portsea Pantry, Top Tots Nursery, Christ Central Church, Portsea Action Group, Portsea Events Group, Swan Advocacy, Viva Gymnastics Club, University of Portsmouth, FoodCycle South East Regional Manager, FatClay Pottery, City Arts Portsmouth, Portsea Residents, John Pounds Medical Centre, and Land Securities Gunwharf.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Auditor

In accordance with the company's articles, a resolution proposing that Sumer Audit 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 Trustee

18 December 2024

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

FOR THE YEAR ENDED 31 MARCH 2024

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 TRUSTEES 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 2024 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 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.

Opinions on other matters prescribed by the Companies Act 2006

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

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

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.

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

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the charitable company for fraud. We are also required to perform specific procedures to respond to the risk of management override. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements: compliance with the UK Companies Act and Charities Act.

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

In addition to the above, our procedures to respond to risks identified included the following:

Due to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

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.

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.

Robin Evans BA FCA CTA DChA (Senior Statutory Auditor) for and on behalf of Sumer Audit 18 December 2024 Chartered Accountants Statutory Auditor Southsea Sumer Audit is the trading name of Sumer Auditco Limited

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

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
356,928
150,726
Charitable activities
4
287,818
-
Investments
5
4,025
-
Total income
648,771
150,726
Charitable activities
6
697,950
100,062
Net income/(expenditure)
(49,179)
50,664
Transfers between
funds
13
31,155
(31,155)
Net movement in
funds
9
(18,024)
19,509
Reconciliation of funds:
Fund balances at 1 April 2023
230,067
440,348
Fund balances at 31 March
2024
212,043
459,857		 Total
Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
£
£
£
£
507,654
353,074
37,574
390,648
287,818
258,550
-
258,550
4,025
1,741
-
1,741
799,497
613,365
37,574
650,939
798,012
713,911
50,872
764,783
1,485
(100,546)
(13,298)
(113,844)
-
11,619
(11,619)
-
1,485
(88,927)
(24,917)
(113,844)
670,415
318,994
465,265
784,259
671,900
230,067
440,348
670,415

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
The funds of the trust
Restricted income funds
18
Unrestricted funds
19		 2024
£
28,890
284,841
313,731
85,629		 £
443,798
228,102
671,900
459,857
212,043
671,900		 2023
£
37,512
291,898
329,410
101,231		 £
442,236
228,179
670,415
440,348
230,067
670,415

The financial statements were approved by the trustees on 18 December 2024

P C Goodship Trustee

Company registration number 04740185 (England and Wales)

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

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
23
Investing activities
Purchase of tangible fixed assets
Interest 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		 2024
£
(28,260)
4,025		 £
17,178
(24,235)
-
(7,057)
291,898
284,841		 2023
£
(3,648)
1,741		 £
(62,660)
(1,907)
-
(64,567)
356,465
291,898

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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, Hants, Portsmouth, 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.

The trustees financial projections have taken into account the ongoing impact of the loss in general unrestricted funds. However, the active pursuit of new sources of income and the current level of unrestricted reserves, excluding fixed asset designated fund, have enabled the trustees to satisfy themselves that the trust remains a going concern.

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 or grantors 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.

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

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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.

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

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.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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.

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.

JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
4,046
-
Core funding grants
68,091
150,726
Donated goods and
services
284,791
-
356,928
150,726
Grants receivable for core activities
Portsmouth City Council -
Core grant
43,126
-
Portsmouth City Council -
Service charge grant
24,965
-
The National Lottery
-
113,475
Hampshire and Isle of
Wight Community
Foundation
-
-
HIVE
-
5,000
European Regional
Development Fund
-
8,301
Partnership Foundation
-
300
Power to Change Grant
-
-
Portsmouth City Council
-
23,650
Other
-
-
68,091
150,726		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
4,046
192
-
218,817
68,091
37,574
284,791
284,791
-
507,654
353,074
37,574
43,126
43,126
-
24,965
24,965
-
113,475
-
9,800
-
-
9,864
5,000
-
-
8,301
-
-
300
-
-
-
-
10,000
23,650
-
6,910
-
-
1,000
218,817
68,091
37,574		 Total
2023
£
192
105,665
284,791
390,648
43,126
24,965
9,800
9,864
-
-
-
10,000
6,910
1,000
105,665

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 2024

4 Incoming resources from charitable activities

Community Community support
support facilities
facilities
2024 2023
£ £
Facilities hire 287,818 258,550

Charitable 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 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 4,025 1,741
Community Community
support support
facilities facilities
2024 2023
£ £
Direct costs
Staff costs 232,834 232,996
Depreciation and impairment 26,698 25,193
Activity and coaching costs 39,416 22,719
298,948 280,908
Share of support and governance costs (see note 8)
Support 489,467 477,345
Governance 9,597 6,530
798,012 764,783
Analysis by fund
Unrestricted funds 697,950 713,911
Restricted funds 100,062 50,872
798,012 764,783

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

FOR THE YEAR ENDED 31 MARCH 2024

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.

8 Support costs allocated to activities

Operating lease charges
Marketing
Premises costs
Administration
Staff related costs
Finance costs
Bad and doubtful debts
General expenditure
Governance costs
Analysed between:
Community support facilities		 2024
£
5,008
-
444,968
30,286
2,417
1,870
-
4,918
9,597
499,064
499,064		 2023
£
5,630
20
433,635
31,188
958
1,553
60
4,301
6,530
483,875
483,875

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 (2023- £21,600) for management accounting and bookkeeping services.

9 Net movement in funds 2024 2023
£ £
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 6,261 5,930
Depreciation of owned tangible fixed assets 26,698 25,192
Operating lease charges 5,008 5,630

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 (2023- 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 2024

11 Employees

The average monthly number of employees during the year was:

Charitable
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
11
2024
£
213,941
15,012
3,881
232,834		 2023
Number
11
2023
£
212,808
16,179
4,009
232,996

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

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2024 2023
£ £
Aggregate compensation 50,557 49,504

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 £10,235 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 £20,920 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 2024

14
Tangible fixed assets
Land and
buildings
Plant and
machinery
Fixtures,
fittings &
equipment
Computers Motor vehicles
£
£
£
£
£
Cost
At 1 April 2023
429,362
137,396
29,547
25,878
12,900
Additions
-
-
27,911
349
-
At 31 March 2024
429,362
137,396
57,458
26,227
12,900
Depreciation and
impairment
At 1 April 2023
32,231
111,876
17,929
18,819
11,992
Depreciation charged in the
year
8,271
6,381
7,684
4,135
227
At 31 March 2024
40,502
118,257
25,613
22,954
12,219
Carrying amount
At 31 March 2024
388,860
19,139
31,845
3,273
681
At 31 March 2023
397,131
25,520
11,618
7,059
908
15
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
10,604
Other debtors
5,046
Prepayments and accrued income
13,240
28,890		 Total
£
635,083
28,260
663,343
192,847
26,698
219,545
443,798
442,236
2023
£
15,830
5,374
16,308
37,512

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

FOR THE YEAR ENDED 31 MARCH 2024

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 2024
£
37,722
15,915
31,992
85,629		 2023
£
55,224
17,488
28,519
101,231

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 2023 resources expended March 2024
£ £ £ £ £
Top Tots 415 - (98) - 317
415 - (98) - 317

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 £3,881 (2023 - £4,009).

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

FOR THE YEAR ENDED 31 MARCH 2024

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
1 April 2022
r
£
Fixed Assets
Fixed Asset fund
413,198
Reviving Treadgold building (cash fund)
12,776
Other Funds
Partnership Foundation
-
Heritage Lottery
-
Communities Against Cancer
2,319
Cost of Living
-
HIVE Hardship
-
LED Lighting
-
HIWCF
-
Pocket Parks Plus
9,668
Asda Foundation
-
HIVE Portsmouth
-
Portsmouth City Council
20,359
Power to Change
-
The National Lottery Community fund
6,945
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
1 April 2023
r
£
£
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		 Movement in funds
Incoming
esources
Resources
expended
£
£
-
(10,004)
-
-
300
(300)
47,000
-
-
-
66,475
(56,425)
5,000
(5,000)
18,301
-
-
(2,657)
-
(4,093)
-
(467)
-
(500)
13,650
(10,914)
-
(5,000)
-
(4,702)
150,726
(100,062)		 Transfers
Balance at
31 March 2024
£
£
355
393,896
-
12,092
-
-
-
47,000
-
-
(10,050)
-
-
-
(18,301)
-
(1,200)
-
(349)
3,988
-
-
-
-
(410)
2,881
-
-
(1,200)
-
(31,155)
459,857		 Transfers
Balance at
31 March 2024
£
£
355
393,896
-
12,092
-
-
-
47,000
-
-
(10,050)
-
-
-
(18,301)
-
(1,200)
-
(349)
3,988
-
-
-
-
(410)
2,881
-
-
(1,200)
-
(31,155)
459,857
459,857

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

FOR THE YEAR ENDED 31 MARCH 2024

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.

Partnership Foundation

Funding received to support the set up of a community art gallery wall.

Heritage Lottery

Funded by the National Lottery Heritage development fund to conduct a feasibility study, business and cost plan for the long-term future of the Treadgolds listed building. This study is currently underway.

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.

Cost of Living

Funding of £66,475 was provided through the Community Organisation Cost of Living fund delivered by The National Lottery Community Fund as a contribution towards core costs for the running of the centre.

HIVE Hardship

From the VCSE Hardship Support fund, this project was used to support warm spaces over the winter period for local residents.

LED Lighting

Funds of £8,301 were provided by the European Union Regional Development Fund through LoCASE funding and funds of £10,000 provided by Portsmouth City Council through the Charles Dickens ward Neighbourhood CIL fund, both being used to up grade the lighting within the centre to low energy LED.

HIWCF

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

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

FOR THE YEAR ENDED 31 MARCH 2024

18 Restricted funds

(Continued)

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.

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 funding ended during the current year.

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

FOR THE YEAR ENDED 31 MARCH 2024

18 Restricted funds

(Continued)

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 2024

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
Renewals fund 151,641 3,000 (25,891) (9,984) 118,766
Social Enterprise fund 10,000 - - - 10,000
Project closure costs fund 15,934 - - - 15,934
COVID recovery fund 2,997 - (230) - 2,767
Foodcycle fund 2,204 1,046 (1,086) - 2,164
Food Portsmouth fund 7,576 - (1,277) - 6,299
Holiday Activity fund 675 2,586 - (1,500) 1,761
Neighbourly fund - 500 (500) - -
Fixed Asset fund 38,691 - (16,691) 27,904 49,904
General funds 349 641,639 (652,275) 14,735 4,448
230,067 648,771 (697,950) 31,155 212,043
Previous year: At 1 April Incoming Resources Transfers At 31 March
2022 resources expended 2023
£ £ £ £ £
Renewals fund 158,937 - (7,296) - 151,641
Social Enterprise fund 10,000 - - - 10,000
Project closure costs fund 15,934 - - - 15,934
COVID recovery fund 44,532 - (41,535) - 2,997
Foodcycle fund 3,358 267 (1,421) - 2,204
Food Portsmouth Fund 8,287 - (711) - 7,576
Holiday Activity Fund - 675 - - 675
Fixed Asset fund 50,580 - (14,993) 3,104 38,691
General funds 27,366 612,423 (647,955) 8,515 349
318,994 613,365 (713,911) 11,619 230,067

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 2024

19 Unrestricted funds

(Continued)

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.

Neighbourly fund

Funds provided to support warm spaces over the winter period for local residents.

Fixed Asset fund

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

General fund

These funds can be used for any purpose to further the objectives of the charity.

20 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Fund balances at 31 March 2024 are represented by:
Tangible assets
49,902
393,896
Current assets/(liabilities)
162,141
65,961
212,043
459,857
Unrestricted
Restricted
funds
funds
2023
2023
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
38,691
403,545
Current assets/(liabilities)
191,376
36,803
230,067
440,348		 Total
2024
£
443,798
228,102
671,900
Total
2023
£
442,236
228,179
670,415

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

FOR THE YEAR ENDED 31 MARCH 2024

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:

2024 2023
£ £
Within one year 854 776

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

2024 2023
£ £
Within one year 4,556 7,800

22 Related party transactions

Transactions with related parties

During the year the trust entered into the following transactions with related parties:

Portsmouth Creates CIC, a Community Interest Company for which L Wilder was CEO, hired facilities amounting to £980.00 from the charity. This facility hire occurred before becoming trustee of the charity.

Christ Central Church, a charitable company for which A North is CEO, hired facilities amounting to £16,911 from the charity. The hire of these facilities occurred whilst trustee to the charity.

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

FOR THE YEAR ENDED 31 MARCH 2024

23
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease in debtors
(Decrease)/increase in creditors
Cash generated from/(absorbed by) operations
24
Analysis of changes in net funds		 2024
2023
£
£
1,485
(113,844)
(4,025)
(1,741)
26,698
25,192
8,622
16,779
(15,602)
10,954
17,178
(62,660)

The trust had no material debt during the year.