HOLLINGDEAN DEVELOPMENT TRUST (Company Number: 04811152) (Charity Number: 1102541)
TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
HOLLINGDEAN DEVELOPMENT TRUST (A Company Limited By Guarantee) (Company Number: 04811152) (Charity Number: 1102541)
TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| CONTENTS | Page |
|---|---|
| Trustees’ Annual Report | 1 – 4 |
| Independent Examiners’ Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Statement of Cashflows | 8 |
| Notes to the Accounts | 8 – 12 |
TRUSTEES’ ANNUAL REPORT
The Trustees (who also act as directors for Companies Act purposes) have pleasure in presenting their report and financial statements for the year ended 31 March 2023.
The Trustees believe that the financial statements comply with current statutory requirements, the Charity’s governing document and the Statement of Recommended Practice.
REFERENCE AND ADMINISTRATIVE DETAILS
| Name of Charity: | Hollingdean Development Trust |
|---|---|
| Charity Number: | 1102541 |
| Company Number: | 04811152 |
| Registered and Principal Address: | Hollingdean Community Centre |
| Thompson Road | |
| Brighton | |
| BN1 7BH | |
| Trustees: | Sandra Meredith |
| Claire Debenham | |
| Olivia Canham | |
| Tracey Hill | |
| Christine Simpson | |
| Catherine Geurrier | |
| Elizabeth Wallace Lee | |
| Robert Lane | |
| Martin Osborne (Appointed 19thMay 2022) | |
| Bankers: | HSBC |
| 1 Kings Parade | |
| Ditchling Road | |
| Brighton | |
| BN1 6JT | |
| Independent Examiner: | Emily Squires FCCA |
| Impact Initiatives | |
| 69 Ship Street | |
| Brighton | |
| BN1 1AE | |
| Solicitors: | Griffith Smith Farrington Webb |
| 47 Old Steine | |
| Brighton | |
| BN1 1NW |
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TRUSTEES’ ANNUAL REPORT – continued
STRUCTURE, GOVERNANCE AND MANAGEMENT
Hollingdean Development Trust was incorporated as a company limited by guarantee (registered number 04811152) on 25 June 2003. It received charitable status on 8 March 2004 (registered charity number 1102541).
The governing document is the Memorandum and Articles of the Association dated 25 June 2003 as amended by written resolutions dated 28 January 2004 and 9 March 2005. Under the Articles, Elected Trustees are elected at the Annual General Meeting to serve a maximum of 4 years. Appointed Trustees shall retire at each Annual General Meeting.
ORGANISATIONAL STRUCTURE
The Trustees have control of the Charity and its property and affairs. The Board of Trustees meets on a monthly basis to receive report on the financial situation and other matters relating to the work of the Trust. There are no subcommittees. All cheques require the signature of two Trustees.
The Trust’s work covers a very limited geographical area and elected Trustees must live within the area of benefit. Current Trustees have been recruited on the basis of their interest in the work of the Trust. The board had have coopted, or appointed Trustees who live outside the area they were co-opted to fill gaps in the Board’s skill base.
RISKS
The Trustees have examined the principal areas of the Charity’s operations and considered the major risks faced in each of these areas.
PUBLIC BENEFIT
In shaping our objectives and planning our activities for the year, the Trustees have given consideration to the duties set out in Section 4 of the Charities Act 2006 to have due regard to public benefit. In particular, the Trustees have considered how the planned activities will contribute to the overall aims and objectives that they have set.
The Trustees believe that the following paragraphs, specifically those on ‘Objectives and Activities’ and ‘Significant Changes during the Year’, relate in detail the benefit that the Charity provides to the public.
OBJECTIVES AND ACTIVITIES
The objectives of the Charity which are to be carried out in Hollingdean and neighbouring communities are:
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a) To relieve poverty in such ways as the Trustees may decide;
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b) To promote or provide education (including vocational training);
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c) To provide or promote the provision of facilities for recreation and other leisure-time occupation in the interests of social welfare;
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d) To provide or assist in the provision of public health services and childcare;
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TRUSTEES’ ANNUAL REPORT – continued
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e) To develop the capacity and skills of the members of the community in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society;
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f) To establish and maintain community centres in furtherance of these objects;
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g) Such other charitable purposes as may from time to time be decided by the Trustees subject to the prior consent of the Charity Commissioners for England and Wales.
AIMS
The Hollingdean Development Trust aims to become a sustainable Development Trust run by and for local residents. It aims to support the continuing regeneration of Hollingdean through its management of Community assets, the provision of local services and the creation of new responses to community needs.
ACHIEVEMENTS AND PERFORMANCE
This financial year has seen great change within the community and HDT has been able to provide support to the residents and groups helping with the lasting effect of the pandemic and more recently so the current cost of living crisis. both have resulted in change in the well being of peoples lives.
HDT has been proud to be a space where the local residents can feel safe and reach out for support, advice and sign posting. Hollingdean Community Centre was chosen to be one of four pilot locations in Brighton to be a recognized Warm Hub Space in association with Trust for Developing Communities. During this 4 week trial over 300 people received a hot meal and also benefitted with well being support, cooking lessons, company and a space to be able to be warm all day at no cost.
The trust also benefitted from a grant from Brighton & Hove City Council Enviromental Improvement bid to brighten up the outside space.
The issue of isolation within the community still remains a big problem and in the next financial year, as Hollingdean Development Trust celebrates its 20[th] year as a charity, the Trust has prioritised this issue as even people who live on the door step of the centre are isolated due to accessibility.
As always, we are extremely grateful to all the users of the centre, either hirers providing various groups, support, a hot meal or a listening ear. Hollingdean is very lucky to have such a caring Community.
FINANCIAL REVIEW
Reserves
The level of reserves is regularly monitored by the Trustees and is currently considered to be reasonable given the nature and scale of the activities and potential future risks and hazards. The Trustees consider that the level of free reserves (that is those funds not tied up in fixed assets, and designated and restricted funds) should, where possible represent at least 6 months expenditure. The reserves as defined by the Charity Commission at the year end were £42,630 which represents 8 months running costs. The Trustees recognise that the reserves are beyond what is required in the reserves policy, there are plans to make the centre fully accessible and so have designated £10,000 to enable this to happen within the next few year.
Asset Cover for Funds
The Trustees consider that the assets of the Charity are sufficient to meet the Charity’s obligations on a fund by fund basis.
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STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023
| Note Unrestricted Funds Restricted Funds 2023 Total INCOMING RESOURCES £ £ £ From Generated Funds: Donations - - - Investment Income: Bank interest 96 - 96 96 - 96 From Charitable Activities: Grants 4,350 18,373 22,723 Rental Income 21,888 - 21,888 Other - - - 26,238 18,373 44,611 TOTAL INCOMING RESOURCES 26,334 18,373 44,707 RESOURCES EXPENDED Charitable Activities 2 47,250 15,211 62,461 Governance Costs 2 100 - 100 TOTAL RESOURCES EXPENDED 47,350 15,211 62,561 NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR BEFORE TRANSFERS (21,016) 3,162 (17,854) TRANSFERS (300) 300 - NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR AFTER TRANSFERS (21,316) 3,462 (17,854) FUND BALANCES BROUGHT FORWARD 63,946 13,047 76,993 FUND BALANCES CARRIED FORWARD 42,630 16,509 59,139 |
2022 Total £ - 2 2 23,750 11,114 5,905 40,769 40,771 38,507 100 38,607 2,164 - 2,164 74,829 76,993 |
|---|---|
All disclosures relate only to continuing resources.
There are no other recognised gains or losses in the current or previous period.
The notes on page 8 to 12 form part of these financial statements
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| CURRENTASSETS Cash atbankandinhand Debtors CREDITORS: Amounts falling due within oneyear NET CURRENT ASSETS NETASSETS Representedby: Unrestricted funds Restricted funds TOTAL FUNDS Note 5 6 9 9 8 2023 £ 67,720 3,002 70,722 (11,583) |
2022 £ £ 85,279 4,197 89,476 (12,483) 59,139 59.139 54,630 4,509 59.] 32 £ 76,993 76,993 63,946 13,047 76,993 |
|---|---|
STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31[st] MARCH 2023
| FOR THE YEAR ENDE | D 31st MARCH 2023 | D 31st MARCH 2023 | D 31st MARCH 2023 | D 31st MARCH 2023 | ||
|---|---|---|---|---|---|---|
| Notes | 2023 | 2022 | ||||
| £ | £ | |||||
| NET MOVEMENT IN FUNDS | (17,854) | 2,164 | ||||
| Decrease in Debtors | 1,195 | 1,365 | ||||
| Decrease in Creditors | (900) | 435 | ||||
| NET CASH OUTFLOW FROM OPERATING ACTIVITIES |
17,559 | 1,800 | ||||
| CHANGE IN CASH & CASH EQUIVALENTS |
17,559 | 3,964 | ||||
| Cash and cash equivalents at the beginning of the year |
85,279 | 81,315 | ||||
| Cash and cash equivalents at the end of the year |
67,720 | 85,279 | ||||
| ANALYSIS OF CASH & CASH EQUIVALENTS At |
1 April 2022 Cash flow Non-cash changes |
At 31 March 2023 |
||||
| £ | £ | £ | £ | |||
| Cash at bank and in hand | 85,279 | (17,559) | - | 67,720 | ||
| 85,279 | (17,559) | - | 67,720 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements.
1.1 Basis of Preparation of Accounts
The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2015) – Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.
Hollingdean Development Trust meets the definition of a public benefit entity under FRS102. Assets and Liabilities are initially recognised at historical cost or transaction values unless otherwise stated in the relevant accounting policy note. There are no material uncertainties about Impact Initiatives ability to continue as a going concern.
- 1.2 Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the accounts.
- 1.3 Incoming Resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
No amounts are included in the accounts for services donated by volunteers.
1.4 Resources Expended
All expenditure is accounted for on an accruals basis and has been classified under headings. Fundraising and Publicity includes direct publicity costs and fundraising consultancy fees. Governance Costs include bookkeeper’s fees, accountancy and legal costs.
All other costs are deemed to be Costs in Furtherance of the Objects of the Charity.
- 1.5 Taxation
The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010.
- 1.6 Leased Assets
Rentals paid under operating leases are charged to income as incurred.
- 1.7 Pension Costs
Contributions payable to the company’s pension schemes are charged to the Statement of Financial Activities in the period to which they relate.
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NOTES TO THE FINANCIAL STATEMENTS - continued
2. RESOURCES EXPENDED
| Unrestricted £ Restricted £ Charitable Activities: Bookkeeping 1,450 - Buildings Insurance 407 - Healthy Neighbourhoods Grants - 3,859 Grants paid out - 11,352 Repairs & Renewals 23,530 - Public Liability Insurance 309 - Property Costs 6,530 - Salary Costs 13,363 - Stationery, Telephone and Broadband 1,037 - Sundry 624 - 47,250 15,211 Governance Costs: Independent Examiner’s Fee 100 - |
2023 Total £ 1,450 407 3,859 11,352 23,530 309 6,530 13,363 1,037 624 62,461 100 |
2022 Total £ 1,200 422 2,058 4,519 8,052 325 7,580 12,493 1,471 387 38,507 100 |
|---|---|---|
3. TRUSTEES’ REMUNERATION AND REIMBURSED EXPENSES
No Trustee received any remuneration during the period. No Trustees received reimbursed expenses in the year (2021: £NIL).
4. ANALYSIS OF STAFF COSTS
There was one member of staff during the period. No staff received in excess of £60,000 during the year.
| Salaries Social Security Costs Pension Costs 5. DEBTORS Trade Debtors |
2023 £ 12,500 470 375 13,345 2023 £ 3,002 |
2022 £ 11,647 513 333 10,155 2022 £ 4,197 |
|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued
| 6. CREDITORS: Amounts falling due within one year Trade Creditors Accruals Other Creditors Held for Healthy Neighbourhoods Held for Tia's Trees |
2023 £ 6,474 150 - 3,679 1,280 11,583 |
2022 £ 4,512 100 2,912 3,679 1,280 12,483 |
|---|---|---|
7. OPERATING LEASE COMMITMENTS
The following operating lease payments are committed to be paid within one year:
| Expiring: Within 1 year Between 2 and 5 years Over 5 years |
Land & Buildings 20232022 ££ 1,500 1,500 - - - __- 1,500 1,500 |
|---|---|
8. FUNDS
The funds are represented by the following assets:
| Unrestricted funds £ Restricted funds £ Net current assets 54,630 4,509 |
Total 2023 £ 59,139 |
Total 2022 £ 76,993 |
|---|---|---|
A detailed analysis of the individual restricted fund balances is given below.
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NOTES TO THE FINANCIAL STATEMENTS - continued
| 9. MOVEMENT IN FUNDS Restricted funds Novas Scarman re Healthy Neighbourhoods Lucky Dip ELO Cultural Funds Childrens cafe Holly Hips Ward budget Laburnam, Grove Art Group Hollingdean Knitting Group Friends of Stanmer Park Street Play Stanmer Street Project Environmental Improvement Fund Household Support Fund Unrestricted Funds General Fund Designated Funds Access Project Total TOTAL FUNDS |
Bal b/fwd £ Incoming Resources £ Resources Expended £ Transfers £ 5,908 - (3,858) (1,398) 1,316 917 (917) - - - (478) 478 2,050 - - - 50 - - - - - (300) 300 351 - (520) 169 148 - - - 293 - - - 1,431 456 (2,638) 751 - 12,000 - - 1,500 5,000 (6,500) - 13,047 18,373 (15,211) 300 63,946 26,334 (47,350) (10,300) - - - 10,000 63,946 26,334 (47,350) (300) 76,993 44,707 (62,561) - |
Bal c/fwd £ 652 1,316 - 2,050 50 - - 148 293 - 12,000 - 16,509 |
|---|---|---|
32,630 |
||
10,000 |
||
42,630 |
||
59,139 |
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NOTES TO THE FINANCIAL STATEMENTS - continued
10. ANALYSIS OF PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES BY FUND
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022
| Note Unrestricted Funds Restricted Funds 2022 Total INCOMING RESOURCES £ £ £ From Generated Funds: Donations - - - Investment Income: Bank interest 2 - 2 2 - 2 From Charitable Activities: Grants 18,000 5,750 23,750 Rental Income 11,114 - 11,114 Other 5,905 - 5,905 35,019 5,750 40,769 TOTAL INCOMING RESOURCES 35,021 5,750 40,771 RESOURCES EXPENDED Charitable Activities 2 31,930 6,577 38,507 Governance Costs 2 100 - 100 TOTAL RESOURCES EXPENDED 32,030 6,577 38,607 NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR BEFORE TRANSFERS 2,991 (827) 2,164 TRANSFERS 187 (187) - NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR AFTER TRANSFERS 3,178 (1,014) 2,164 FUND BALANCES BROUGHT FORWARD 60,768 14,061 74,829 FUND BALANCES CARRIED FORWARD 63,946 13,047 76,993 |
2021 Total £ - - - 38,674 10,624 153 49,451 49,451 45,004 100 45,104 4,447 - 4,447 70,382 74,829 |
|---|---|
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