# **THORNBURY COMMUNITY BUILDING TRUST (TCBT) FINANCIAL STATEMENTS**
## **31 MARCH 2021**
**Charity Registration Number 1118127 Company Registration Number 05773927**
**THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2021**
|**CONTENTS**||
|---|---|
||**_Pages_**|
|Reference and administrative information|**1**|
|Trustees’ annual report|**2 – 4**|
|Independent Examiner’s report|**5**|
|Statement of financial activities|**6**|
|Balance sheet|**7**|
|Notes forming part of the financial statements|**8 – 13**|
**THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
## **YEAR ENDED 31 MARCH 2021**
The members present their annual report and the financial statements for the year ended 31 March 2021.
## **Reference and Administration**
**Company Name** Thornbury Community Building Trust (TCBT) **Registered charity number** 1118127 **Registered company number** 05773927
## **Registered Office Address**
Thornbury Community Building Trust, Turnberries, Bath Road, Thornbury, South Gloucestershire, England, BS35 2BB
## **Independent Examiner**
Joshua Kingston BSc. ACA Burton Sweet Limited The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol BS48 1UR
## **Trustees**
The Trustees of the charitable company are its directors for the purpose of company law. The Trustees serving during the period to the date of signing this report are as follows:
G Teague I Robinson
## **Company secretary**
E M Grindey
**1 | T C B T**
## **THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2021**
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and Aims**
1. To promote for the inhabitants of Thornbury and the surrounding area ( hereinafter called the area of benefit ) the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social or economic circumstances or for the public at large in the interest of social welfare and the object of advancing education and improving the condition of life of the said inhabitants.
2. To establish or secure the establishment of a Community building ( hereinafter called the Centre ) and to maintain and manage, or to co-operate with any local statutory authority in the maintenance and management of such Centre for activities promoted by the Thornbury Community Building Trust and its constituent bodies in furtherance of the above objects.
The charity fulfils these objectives by accepting the lease from South Gloucestershire Council of the building known as Turnberries and running the building for the benefit of the people of Thornbury and the surrounding area. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives. All our charitable activities are undertaken to further our charitable purposes for the public benefit.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Charitable Activities**
We would like to thank fellow TCBT staff for all the work undertaken during this difficult year. All have continued to ensure that when available Turnberries is used for the educational and recreational benefit of all groups in the community and wider area.
Turnberries like many other businesses was significantly affected by covid, remaining closed for 9 months in total during this reporting period which obviously affected income from room hire (down 76% on previous year).
Having ceased to operate a Day Centre providing services for adults with learning difficulties in Turnberries, South Gloucestershire Council was continuing to lease that part of the building previously occupied by the Day Centre, but allowing TCBT to hire the rooms to community groups, pending a decision on if and when the library may relocate to Turnberries. However the drop in income for the centre was exacerbated by the refusal by SGC to fully pay the rental level for these rooms (which had remained static for the last 15 years).
Without grants and ability to furlough staff to mitigate the effects of covid and 50% drop in expenditure, mainly due to reduced utility and cleaning costs during lockdowns, the financial situation would have been much worse.
The library relocation process is now in its sixth year and will continue to cause significant constrictions on how the Trust could develop the use of the building for the future. Should the library relocate to Turnberries it would involve major building works so to conserve the Charities resources certain building wide updates are still on temporary hold until the library decision has been made.
**2 | T C B T**
**THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2021**
Some youth service provision continues to be provided by Krunch who are South Gloucestershire’s preferred supplier for this service.
## **FINANCIAL REVIEW**
The rental income during the year was £15,080 (£63,824 in 2019/20).
The Trust has increased the sinking fund provision in line with the agreed policy set by South Gloucestershire Council.
Provision has been made in the accounts for any expected expenses not received during the year.
## **Reserves Policy**
The charity has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ("the free reserves") held by the charity should equate to approximately three months operation costs, which equates to £20,592 in general funds. At this level the trustees feel that it would be able to continue the current activities of the charity in the event of a significant drop in funding. The free reserves held by the charitable company at the year-end amounted to £183,645 (2020: £161,497).
## **Implications of COVID-19**
Long term lockdown had a significant impact on the charities income but has been mitigated in part by the use of grants from charities and rates relief from the council. These together with our reserves have enabled the charity to come through this period in reasonable shape and able to continue on into the future. We have put a number of safety measures into the centre that has allowed us to re-open and continue our business at more or less normal levels.
## **FUTURE DEVELOPMENTS**
As previously the Trust plan the following activities in the next financial year.
- To increase the use of the facilities by increasing advertising to the general public and the local business community.
- To increase the level of investment in equipment thus enhancing the available facilities.
- To invest in staff development.
- To continue to try and recruit some additional trustees from the local community.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing Document**
The charity is governed by its memorandum and articles of association, constitutes a company limited by guarantee and is registered as a charity with the Charity Commission. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £10 each.
**3 | T C B T**
**THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2021**
## **Trustees**
The Board shall comprise of between four and nine elected Trustees. South Gloucestershire Council are aware of the situation and we have 2 new Trustees hoping to join the board soon, Covid-19 permitting. New Trustees are elected individually at the Annual General Meeting. Trustees may co-opt any person to the Board during the year until the next AGM. The Trustees must hold at least 6 meetings a year.
## **RESPONSIBILITIES OF THE TRUSTEES**
The trustees (who are also directors of Thornbury Community Building Trust for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with 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 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 charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Registered office:**
Signed by order of the Trustees:
Thornbury Community Building Trust Turnberries Bath Road Thornbury South Gloucestershire Ian Robinson BS35 2BB Trustee
Approved by the Trustees on 14[th] December 2021
**4 | T C B T**
## **THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
## **YEAR ENDED 31 MARCH 2021**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
.
## **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:
1. 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
3. 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
4. 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.
Joshua Kingston BSc. ACA Burton Sweet Limited Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Date: 14[th] December 2021
**5 | T C B T**
**THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
## **STATEMENT OF FINANCIAL ACTIVITIES (Including income and expenditure account) YEAR ENDED 31 MARCH 2021**
|**Notes**
**Income from:**
Donations
**2**
Investments
**Total income**
**Expenditure on:**
Charitable activities
**4**
**Total expenditure**
**5**
**Transfers between funds**
**Net movement in funds**
**Total funds brought forward**
**11**
**Total funds carried forward**
**11**
**Net income/(expenditure)**|**Unrestricted**
**Restricted**
**Total funds**
**Total funds**
**Funds**
**Funds**
**2021**
**2020**
**£**
**£**
**£**
**£**
105,714
-
105,714
129,612
33
-
33
239|
|---|---|
||105,747
-
105,747
129,851|
||82,370
-
82,370
133,697|
||82,370
-
82,370
133,697|
||23,377
-
23,377
(3,846)
-
-
-
-|
||23,377
-
23,377
(3,846)
210,112
-
210,112
213,958|
||233,489
-
233,489
210,112|
The company has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the company are classed as continuing.
Comparative fund movements are shown in note 7
**The notes on pages 8 to 13 form part of these financial statements**
6 | **T C B T**
_________________________________________________________________________________________
## **THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
## **BALANCE SHEET**
## **AT 31 MARCH 2021**
|||
|---|---|
|**AT 31 MARCH 2021**|**Company number: 05773927**|
|**Notes**
**Fixed assets**
**8**
**Current assets**
Debtors
**9**
Stock
Cash at bank
**Creditors: Amounts falling due within one year**
**10**
**Net Assets**
**Funds**
Restricted funds
**12**
Unrestricted funds
**12**|**2021**
**2020**
**£**
**£**
3,097
5,368
3,570
5,586
191
200
232,610
209,235|
||236,371
215,021
(5,979)
(10,277)|
||233,489
210,112|
||-
-
233,489
210,112|
||233,489
210,112|
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Director's responsibilities;
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006,
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the trustees on 14th December 2021 and are signed on their behalf by:
………………………………………
Ian Robinson - Trustee
**The notes on pages 8 to 13 form part of these financial statements**
7 | **T C B T**
_________________________________________________________________________________________
**THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
**NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021**
## **1 Accounting Policies**
## **(a) Basis of Accounting**
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 (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charity is a Public Benefit Entity as defined under FRS 102.
There are no material uncertainties about the charity’s ability to continue as a going concern, despite the significant uncertainty being caused by the worldwide COVID-19 crisis. Whilst the Trustees expect there to be a significant impact on the charity’s operations and reserves in the coming months and years, the charity has sufficient reserves to be able to meet these challenges.
## **(b) Income**
Income is recognised and included in the accounts when the charity becomes entitled to the funds, performance conditions attached to the income have been met, receipt of the income is considered probable, and the amount can be measured reliably.
## **(c) Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. It is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that activity inclusive of VAT. Support costs and where costs cannot be directly attributed have been allocated to charitable activities. Governance costs are those incurred in compliance with constitutional and statutory requirements, are included within support costs and allocated as described above.
## **(d) Fixed Assets**
Depreciation is calculated so as to write-off the cost of an asset, less its estimated residual value, over the useful economic life of the asset as follows:
Computer and office equipment:
- 33% on cost
## **(e) Taxation**
The company is a registered charity and it is considered that there is no liability to corporation tax.
## **(f) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.
## **(g) Stock**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Donated items are not valued in stock and recognised in income only when sold.
8 | **T C B T**
_________________________________________________________________________________________
**THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
**NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021**
## **1 Accounting Policies (continued)**
## **(h) Cash at Bank**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **(i) Creditors**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.
## **(j) Fund accounting**
**Unrestricted funds** are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
**Restricted funds** may only be applied for particular purposes within the objects, as specified by donors of that fund.
**Designated funds** form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees. The purpose and likely timing of the use of each designated fund is set out in note 11 to the financial statements.
Funds are transferred from restricted to unrestricted funds once the conditions have been satisfied or when restrictions have been removed or amended by the original donor.
## **(k) Pension costs and other post-retirement benefits**
The Charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2 Donations**
|Community usage hires
South Glos ADS Funding
SGC Covid-19 Grants
Coronavirus Job Retention Scheme|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2021**
**2020**
**£**
**£**
**£**
**£**
15,080
-
15,080
63,824
32,894
-
32,894
65,788
41,143
-
41,143
-
16,597
-
16,597
-|
|---|---|
||105,714
-
105,714
129,612|
All donations in 2020 were unrestricted.
9 | **T C B T**
_________________________________________________________________________________________
**THORNBURY COMMUNITY BUILDING TRUST (TCBT) NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 MARCH 2021**
## **3 Trustees' Remuneration and benefits**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor the year ended 31 March 2020.
There were no trustees' expenses paid for the year ended 31 March 2021 nor the year ended 31 March 2020.
## **4 Expenditure**
|**Costs of charitable activities**
Wages
Pensions
Rates and Water
Insurance
Light and heat
Telephone
Postage and stationary
Advertising
Premises costs
Security
Depreciation
**Governance costs**
Independent examiner's fee
Accountancy and bookeeping
**5**
**Net income/(expenditure) for the year**
Stated after charging:
Depreciation
Independent examiner's fee
**6**
**Staff costs and numbers**
The aggregate payroll costs were:
Wages and salaries
Pension costs|**Total**
**Total**
**2021**
**2020**
**£**
**£**
29,465
37,457
250
285
3,295
4,173
6,868
6,644
14,387
19,742
989
929
901
2,036
1,092
1,015
16,882
54,345
776
1,021
3,491
3,412
1,788
1,704
2,186
934|
|---|---|
||82,370
133,697|
||**Total**
**Total**
**2021**
**2020**
**£**
**£**
3,491
3,412
1,788
1,704|
||**Total**
**Total**
**2021**
**2020**
**£**
**£**
29,465
37,457
250
285|
||29,715
37,742|
The average monthly number (headcount) of employees in the year was 4 (2020:5) No employee was paid more than £60,000 in 2021 or 2020.
10 | **T C B T**
_________________________________________________________________________________________
**THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2021**
## **7 Comparative fund movements**
|**Income from:**
Donations
Investments
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**
**8**
**Tangible fixed assets**
**Cost**
At 1 April 2020
Additions
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for the year
At 31 March 2021
**Net book value**
At 31 March 2021
At 31 March 2020|**Total funds**
**Unrestricted**
**Restricted**
**Year ended**
**Funds**
**Funds**
**31 Mar 20**
**£**
**£**
**£**
129,612
-
129,612
239
-
239|
|---|---|
||129,851
-
129,851|
||133,697
-
133,697|
||133,697
-
133,697|
||(3,846)
-
(3,846)
-
-
-|
||(3,846)
-
(3,846)
213,958
-
213,958|
||210,112
-
210,112|
||**Fixtures &**
**Plant &**
**Fittings**
**Machinery**
**Total**
**£**
**£**
9,340
56,053
65,393
1,220
-
1,220|
||10,560
56,053
66,613|
||3,972
56,053
60,025
3,491
-
3,491|
||7,463
56,053
63,516|
||3,097
-
3,097|
||5,368
-
5,368|
11 | **T C B T**
_________________________________________________________________________________________
**THORNBURY COMMUNITY BUILDING TRUST (TCBT) NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2021**
## **9 Debtors**
|Trade debtors
Prepayments
**10 Creditors: amounts falling**
Trade creditors
Taxation and social security
Other creditors
Pension contributions
**11 Movement in funds**
**Unrestricted funds**
General fund
Sinking fund provision
TCBT fixed asset reserve
Dilapidations reserve
**Total unrestricted funds**
**Total funds**
**Prior year comparative**
**Unrestricted funds**
General fund
Sinking fund
TCBT fixed asset reserve
Diplidations reserve
**Total unrestricted funds**
**Total funds**|**due within one year**
**At**
**1 Apr 20**
**Income**
**Expenditure**
**£**
**£**
**£**
161,497
105,747
(82,370)
39,790
-
-
5,368
-
-
3,457
-
-|**2021**
**2020**
**£**
**£**
1,282
1,786
2,288
3,800|
|---|---|---|
|||3,570
5,586|
|||**2021**
**2020**
**£**
**£**
3,633
2,580
105
367
2,241
7,264
-
66|
|||5,979
10,277|
|||**Transfers**
**At**
**of Funds**
**31 Mar 21**
**£**
**£**
(1,229)
183,645
3,500
43,290
(2,271)
3,097
-
3,457|
||210,112
105,747
(82,370)|-
233,489|
||||
||210,112
105,747
(82,370)|-
233,489|
||**At**
**1 Apr 19**
**Income**
**Expenditure**
**£**
**£**
**£**
118,412
129,851
(124,134)
80,675
-
-
1,851
-
-
13,020
-
(9,563)|**Transfers**
**At**
**of Funds**
**31 Mar 20**
**£**
**£**
37,368
161,497
(40,885)
39,790
3,517
5,368
-
3,457|
||213,958
129,851
(133,697)|-
210,112|
||||
||213,958
129,851
(133,697)|-
210,112|
12 | **T C B T**
_________________________________________________________________________________________
**THORNBURY COMMUNITY BUILDING TRUST (TCBT)**
**NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 MARCH 2021**
## **11 Movement in funds (continued)**
## **Designated funds**
**Sinking fund** - On instruction from SGC a provision of £3.5k per year has been set aside in order to build up a sinking fund for the provision of large long term repairs to the building and property. This fund can only be used with the permission of SGC.
**TCBT fixed asset reserve** - The trustees have created a designated fund at the net book value of the fixed assets at the year-end. This leaves general funds showing the free reserves of the Charity.
**Dilapidations reserve -** These funds have been set aside by the charity to undertake repairs.
## **12 Analysis of net assets between funds**
|Restricted Funds
Unrestricted funds
_Designated funds_
_General funds_
**Prior year comparative**
Restricted Funds
Unrestricted funds
_Designated funds_
_General funds_|**Tangible**
**Other**
**Total**
**Fixed assets**
**Net assets**
**31 Mar 21**
**£**
**£**
**£**
-
-
-
3,097
46,747
49,844
-
183,645
183,645|
|---|---|
||3,097
230,392
233,489|
||**Tangible**
**Other**
**Total**
**Fixed assets**
**Net assets**
**31 Mar 20**
**£**
**£**
**£**
-
-
-
5,368
43,247
48,615
-
161,497
161,497|
||5,368
204,744
210,112|
## **13 Company limited by guarantee**
The Company is limited by guarantee and as such has no issued share capital. In the event of the company being wound up the liability of the members is limited £1 each.
13 | **T C B T**
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