2024-03-31-accounts - Hollingdean Development Trust

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HOLLINGDEAN DEVELOPMENT TRUST (Company Number: 04811152) (Charity Number: 1102541)

TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 2024

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 – 13

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 2024.

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
	Olivia Canham
	Christine Simpson
	Catherine Geurrier
	Robert Lane
Bankers:	HSBC
Independent Examiner:	Darren Harding
	17 Ditchling Crescent
	Brighton, East Sussex
	BN1 8GD
Solicitors:	Griffith Smith Farrington Webb
	47 Old Steine
	Brighton
	BN1 1NW

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;

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

FINANCIAL REVIEW

HDT Marks this annual report coinciding with it being the 20[th] anniversary being a charity and this great achievement is to be celebrated. This would not have been possible without the support of numerous people and organisations along the way to get to the position that we are today.

We take great pride in being able to provide support within the community to residents, group and collaborative working partners in a variety of ways. We can be an anchor organisation, a funding holder, pilot projects, funding pots and grants available to local groups and organisations. The staff and trustees have evolved to support those in need to get assistance due to the cost of living and cuts in main stream funding for local services.

HDT have benefitted to provide support from grants from The National Lottery to run some much needed support hubs. This also enabled HDT to change the usage of a former office into a wonderful new multi-functional room to provide even more support for those who need it. A grant from BHCC shared prosperity fund to help improve the access requirements to the community centre building. This is still very much a work in progress and further funding is being applied for.

HDT is continuing to work with organisations such as Trust for Developing Communities , Community Base and the Community Buildings Network to share support, delivery and sign posting.

Like many areas, Hollingdean has felt the effect of the cost of living and the community centre still enables groups to deliver support to those greatest in need but, like most the cost of running the community centre have increased so for the first time in a number of years the charges for hire have had to rise.

Trustee recruitment is always a battle but for those willing a warm welcome awaits.

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 £60,186 which represents 13 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 over the coming years.

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.

FUNDS HELD AS CUSTODIAN TRUSTEE ON BEHALF OF OTHERS

As at the 31[st] March 2024 the Trust held the following amounts on behalf of other organisations: Healthy Neighbourhoods Fund £3,179; and Tia’s Trees £1,280.

STATEMENT OF DIRECTORS’ RESPONSIBILITIES (THE TRUSTEES)

The Trustees (who are also Directors of Hollingdean Development Trust for the purposes of Company law) are responsible for preparing the Trustees Report and the financial statements in accordance with the requirements of the Companies Act 2006.

I report in resepect of my examination the Charities accounts carried out under section 145 of the 2011 Charities Act and in carrying out my examination , I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

INDEPENDENT EXAMINER

As the gross income of the Charity is more than £25,000, an independent examination is required. The Trustees have appointed Darren Harding to perform that task.

By order of the Board:

Approved by the Trustees on , and signed on their behalf by Sandie Meredith.

Sandra Meredith Trustee/Director

Registered office: Hollingdean Community Centre Thompson Road, Brighton, BN1 7BH

INDEPENDENT EXAMINERS STATEMENT

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

		Unrestricted	Restricted	2024	2023
	Note	Funds	Funds	Total	Total
INCOMING RESOURCES		£	£	£	£
From Generated Funds:
Donations		-	-	-	-
Investment Income:
Bank interest		391	-	391	96
		391	-	391	96
From Charitable Activities:
Grants		43	21,022	21,065	22,723
Rental Income exclusive of music		22,945	-	22,945	21,888
Rental Income Inclusive of Music		7,018	-	7,018
Other		1,247	-	1,247	-
		31,254	21,022	52,276	44,611
TOTAL INCOMING RESOURCES		31,602	21,065	52,667	40,707
RESOURCES EXPENDED
Charitable Activities	2	29,134	20,761	49,895	62,461
Governance Costs	2	-	-	-	100
TOTAL RESOURCES EXPENDED		29,134	20,761	49,895	62,561
NET INCOMING/(OUTGOING) RESOURCES
FOR THE YEAR BEFORE TRANSFERS		2,511	261	2,772	(17,854)
TRANSFERS		3,045	(3,045)	-	300
NET INCOMING/(OUTGOING) RESOURCES
FOR THE YEAR AFTER TRANSFERS		5,556	(2,784)	2,772	(17,854)
FUND BALANCES BROUGHT		42,630	16,509	59,139	76,993
FORWARD
FUND BALANCES CARRIED		46,162	15,749	61,911	59,139
FORWARD

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

BALANCE SHEET AS AT 31 MARCH 2024

Note CURRENT ASSETS Cash at bank and in hand Debtors 5 CREDITORS: Amounts falling due within one year 6 NET CURRENT ASSETS NET ASSETS Represented by: Unrestricted funds 9 Restricted funds 9 TOTAL FUNDS 8	2024 £ 64,484 4,353 68,837 (6,926)	2023 £ £ 67,720 3,002 70,722 (11,583) 61,911 61,911 60,186 1,725 61,911	£ 59,139
			59,139
			54,630 4,509 59,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31[st] March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31[st] March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) Ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) Preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on and were signed on its behalf by:

Sandra Meredith Trustee / Director

Date

The notes on pages 8 to 12 form part of these financial statements

STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31[st] MARCH 2024

Notes		2024	2024	2023	2023
		£		£


NET MOVEMENT IN FUNDS		2,772		(17,854)

Decrease in Debtors	(1,351)			1,195
Decrease in Creditors	(4,657)			(900)


NET CASH OUTFLOW FROM OPERATING ACTIVITIES		(3,236)			17,559


CHANGE IN CASH & CASH EQUIVALENTS		(3,236)			17,559

Cash and cash equivalents at the beginning of the year		67,720			85,279


Cash and cash equivalents at the end of the year		64,484			67,720



ANALYSIS OF CASH & CASH EQUIVALENTS At	1 April 2023 Cash flow Non-cash changes				At 31 March 2024

£		£	£		£

Cash at bank and in hand	67,720	(3,236)	-		64,484

	67,720	(2,236)	-		64,484

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

NOTES TO THE FINANCIAL STATEMENTS - continued

2. RESOURCES EXPENDED

Unrestricted £ Restricted £ Charitable Activities: Bookkeeping 1,200 - Buildings Insurance 538 - Healthy Neighbourhoods 2364 - Grants paid out - - Repairs & Renewals 1,127 16,852 Public Liability Insurance 442 - Property Costs 10,169 - Salary Costs 13,345 - Stationery, Telephone and Broadband 727 - Training – Community Development 3,909 Sundry 1,204 - 29,134 20,761 Governance Costs: Independent Examiner’s Fee - -	2024 Total £ 1,200 538 2364 - 15,998 442 10,169 13,345 727 3,909 1,204 49,895 -	2023 Total £ 1,450 407 3,859 11,352 23,530 309 6,530 13,363 1,037 - 624 62,461 100

3. TRUSTEES’ REMUNERATION AND REIMBURSED EXPENSES

No Trustee received any remuneration during the period. No Trustees received reimbursed expenses in the year (2024: £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	2024 £ 12,500 470 375 13,345	2023 £ 12,500 470 375 13,345

5. DEBTORS

Trade Debtors	2024 £ 4,353	2023 £ 3,002

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 £ 2,317 150 - 3,179 1,280 6,926	2023 £ 6,474 150 - 3,679 1,280 11,583

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 20242023 ££ 1,500 1,500 - - - __- 1,500 1,500	Land & Buildings 20242023 ££ 1,500 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 60,186 1,725	Total 2024 £ 61,911	Total 2023 £ 59,139

A detailed analysis of the individual restricted fund balances is given below.

NOTES TO THE FINANCIAL STATEMENTS - continued

9. MOVEMENT IN FUNDS Restricted funds Novas Scarman re Healthy Neighbourhoods Lucky Dip Children’s cafe Holly Hips Hollingdean Knitting Group Friends of Stanmer Park Street Play National Lottery Grant HNF – Trust for Dev Communities Unrestricted Funds General Fund -inc Environmental Improvement Fund Designated Funds Access Project – Total TOTAL FUNDS		Bal b/fwd £ Incoming Resources £ Resources Expended £ Transfers £ 652 - - (652) 1,316 - - - 2,050 - - (2,050) 50 - - (50) 148 - - - 293 - - (293) 16,852 (16,852) 4,170 (3,909) 4,509 21,022 (20,761) (3,045) 44,630 31,645 (29,134) 3,045 10,000 - - - 54,630 31634 (29,134) 3,045 59,139 52,667 (49,894) -	Bal c/fwd £ - 1,316 - - 148 - - 261 1,725 48,204 10,000 58,204 61,911

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 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