REGISTERED COMPANY NUMBER: 05480342 (England and Wales) REGISTERED CHARITY NUMBER: 1112613
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023
FOR
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
Weaver Wroot 28 Dudley Street Grimsby N E Lincolnshire DN31 2AB
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH JUNE 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th June 2023. The trustees have adopted the provisions of 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05480342 (England and Wales)
Registered Charity number
1112613
Registered office
West Marsh Community Centre Beeson Street Grimsby N E Lincolnshire DN31 2QH
Trustees
S W Webster Committee Member W M C C
W Baker Volunteer A Clark Volunteer C Hayes Volunteer (resigned 12.5.23) P Melkevik Volunteer (resigned 15.12.22) P Singleton Volunteer R W Smith Gardener L Hudson Volunteer (appointed 15.12.22)
Company Secretary
S W Webster
Independent Examiner
Weaver Wroot 28 Dudley Street Grimsby N E Lincolnshire DN31 2AB
Approved by order of the board of trustees on 11th March 2024 and signed on its behalf by:
S W Webster - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
Independent examiner's report to the trustees of West Marsh Development Trust Association Ltd ('the
Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th June 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
MR S Nixon FCCA
Weaver Wroot 28 Dudley Street Grimsby N E Lincolnshire DN31 2AB
Date: .............................................
Page 2
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2023
| 30.6.23 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Charitable activities Charitable Activities - 159,841 159,841 Other trading activities 2 19,806 - 19,806 Investment income 3 150 - 150 Other income - - - Total 19,956 159,841 179,797 EXPENDITURE ON Charitable activities Charitable Activities 57,545 133,571 191,116 NET INCOME/(EXPENDITURE) (37,589) 26,270 (11,319) RECONCILIATION OF FUNDS Total funds brought forward 36,506 55,113 91,619 TOTAL FUNDS CARRIED FORWARD (1,083) 81,383 80,300 |
30.6.22 Total funds £ 196,685 19,051 13 6,255 |
|---|---|
| 222,004 | |
| 201,362 | |
| 20,642 70,977 |
|
| 91,619 |
The notes form part of these financial statements
Page 3
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
BALANCE SHEET 30TH JUNE 2023
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 8 18,534 - CURRENT ASSETS Debtors 9 45 - Cash at bank - 82,402 45 82,402 CREDITORS Amounts falling due within one year 10 (19,662) (1,019) NET CURRENT ASSETS/(LIABILITIES) (19,617) 81,383 TOTAL ASSETS LESS CURRENT LIABILITIES (1,083) 81,383 NET ASSETS (1,083) 81,383 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
30.6.23 Total funds £ 18,534 45 82,402 82,447 (20,681) 61,766 80,300 80,300 (1,083) 81,383 80,300 |
30.6.22 Total funds £ 25,662 45 69,448 |
|---|---|---|
| 69,493 (3,536) |
||
| 65,957 | ||
| 91,619 | ||
| 91,619 | ||
| 36,506 55,113 |
||
| 91,619 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 11th March 2024 and were signed on its behalf by:
S W Webster - Trustee
The notes form part of these financial statements
Page 4
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Plant and machinery | - 20% on cost |
|---|---|
| Fixtures and fittings | - 10% on cost |
| Computer equipment | - 25% on cost |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 30.6.23 | 30.6.22 | |
| £ | £ | |
| Fundraising events | 2,231 | 553 |
| Sports facilities | 1,250 | 1,631 |
| Room hire | 16,325 | 16,867 |
| 19,806 | 19,051 |
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WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2023
3. INVESTMENT INCOME
4.
| INVESTMENT INCOME | ||
|---|---|---|
| 30.6.23 | 30.6.22 | |
| £ | £ | |
| Interest receivable - trading | 150 | 13 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 30.6.23 | 30.6.22 | |
| £ | £ | |
| Depreciation - owned assets | 7,128 | 7,128 |
| Other operating leases | 3,150 | 1,224 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30th June 2023 nor for the year ended 30th June 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30th June 2023 nor for the year ended 30th June 2022.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
7.
| Development worker Administrative worker Support workers No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities Charitable Activities 46,261 Other trading activities 19,051 Investment income 13 Other income 6,255 Total 71,580 EXPENDITURE ON Charitable activities Charitable Activities 87,416 NET INCOME/(EXPENDITURE) (15,836) RECONCILIATION OF FUNDS Total funds brought forward 52,342 |
30.6.23 1 1 4 6 Restricted fund £ 150,424 - - - 150,424 113,946 36,478 18,635 |
30.6.22 1 1 4 6 Total funds £ 196,685 19,051 13 6,255 |
|---|---|---|
| 222,004 | ||
| 201,362 | ||
| 20,642 70,977 |
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WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2023
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| £ | £ | £ | |||
| TOTAL FUNDS CARRIED FORWARD | 36,506 | 55,113 | 91,619 | ||
| 8. | TANGIBLE FIXED ASSETS | ||||
| Fixtures | |||||
| Plant and | and | Computer | |||
| machinery | fittings | equipment | Totals | ||
| £ | £ | £ | £ | ||
| COST | |||||
| At 1st July 2022 and 30th June 2023 | 2,203 | 52,161 | 5,882 | 60,246 | |
| DEPRECIATION | |||||
| At 1st July 2022 | 526 | 31,983 | 2,075 | 34,584 | |
| Charge for year | 441 | 5,216 | 1,471 | 7,128 | |
| At 30th June 2023 | 967 | 37,199 | 3,546 | 41,712 | |
| NET BOOK VALUE | |||||
| At 30th June 2023 | 1,236 | 14,962 | 2,336 | 18,534 | |
| At 30th June 2022 | 1,677 | 20,178 | 3,807 | 25,662 | |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 30.6.23 | 30.6.22 | ||||
| £ | £ | ||||
| Other debtors | 45 | 45 | |||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 30.6.23 | 30.6.22 | ||||
| £ | £ | ||||
| Social security and other taxes | 1,019 | 1,019 | |||
| Other creditors | 15,705 | - | |||
| Accrued expenses | 3,957 | 2,517 | |||
| 20,681 | 3,536 | ||||
| 11. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.7.22 | in funds | 30.6.23 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 36,506 | (37,589) | (1,083) | ||
| Restricted funds | |||||
| Restricted Fund | 55,113 | 26,270 | 81,383 | ||
| TOTAL FUNDS | 91,619 | (11,319) | 80,300 |
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WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2023
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS |
Incoming resources £ 19,956 159,841 179,797 |
Resources Movement expended in funds £ £ (57,545) (37,589) (133,571) 26,270 (191,116) (11,319) |
|---|---|---|
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.7.21 | in funds | 30.6.22 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 52,342 |
(15,836) | 36,506 |
| Restricted funds | ||
| Restricted Fund 18,635 |
36,478 | 55,113 |
| TOTAL FUNDS 70,977 |
20,642 | 91,619 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 71,580 |
(87,416) | (15,836) |
| Restricted funds | ||
| Restricted Fund 150,424 |
(113,946) | 36,478 |
| TOTAL FUNDS 222,004 |
(201,362) | 20,642 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.7.21 | in funds | 30.6.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 52,342 | (53,425) | (1,083) |
| Restricted funds | |||
| Restricted Fund | 18,635 | 62,748 | 81,383 |
| TOTAL FUNDS | 70,977 | 9,323 | 80,300 |
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WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2023
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS |
Incoming resources £ 91,536 310,265 401,801 |
Resources Movement expended in funds £ £ (144,961) (53,425) (247,517) 62,748 (392,478) 9,323 |
|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30th June 2023.
Page 9
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2023
| 30.6.23 | 30.6.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Fundraising events | 2,231 | 553 |
| Sports facilities | 1,250 | 1,631 |
| Room hire | 16,325 | 16,867 |
| 19,806 | 19,051 | |
| Investment income | ||
| Interest receivable - trading | 150 | 13 |
| Charitable activities | ||
| Grants | 159,841 | 196,685 |
| Other income | ||
| Other income | - | 6,255 |
| Total incoming resources | 179,797 | 222,004 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages and expenses | 7,050 | 9,204 |
| Other operating leases | 3,150 | 1,224 |
| Rates and water | 2,109 | 2,428 |
| Insurance | 1,964 | 1,583 |
| Light and heat | 7,087 | 8,226 |
| Telephone and postage | 1,744 | 4,247 |
| Repairs and renewals | 17,185 | 22,943 |
| Advertising and promotional | 5,256 | 5,959 |
| Sundries | 3,343 | 6,320 |
| Charitable activities | 133,571 | 113,946 |
| Food larder expense | - | 14,047 |
| Plant and machinery | 441 | 441 |
| Fixtures and fittings | 5,216 | 5,216 |
| Computer equipment | 1,471 | 1,470 |
| 189,587 | 197,254 | |
| Support costs | ||
| Finance | ||
| Bank charges | 89 | 165 |
| Governance costs | ||
| Accountancy and legal fees | 1,440 | 3,943 |
| Total resources expended | 191,116 | 201,362 |
| Net (expenditure)/income | (11,319) | 20,642 |
This page does not form part of the statutory financial statements
Page 10