**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|
1
## **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:
- a) To relieve poverty in such ways as the Trustees may decide;
- b) To promote or provide education (including vocational training);
- c) To provide or promote the provision of facilities for recreation and other leisure-time occupation in the interests of social welfare;
- d) To provide or assist in the provision of public health services and childcare;
2
## **TRUSTEES’ ANNUAL REPORT – continued**
- 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;
- f) To establish and maintain community centres in furtherance of these objects;
- 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.
3
##
##
##
##
##
## **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
5
##
|**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**||
7
## **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.
8
## **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|
|---|---|---|
||||
9
## **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**
**2023**2022
**£**£
**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.
10
## **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**|
11
**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|
|---|---|
12