THORNBURY COMMUNITY BUILDING TRUST (TCBT) FINANCIAL STATEMENTS 31 MARCH 2025 Charity Registration Number 1118127 Company Registration Number 05773927
THORNBURY COMMUNITY BUILDING TRUST (TCBT) FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 CONTENTS Pages Reference and administrative information Trustees, annual report Independent Examiner's report Statement of financial activities Balance sheet Notes forming part of the financial statements 9-14
THORNBURY COMMUNITY BUILDING TRUST (TCBT) REFERENCE AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 MARCH 2025 The members present their annual report and the financial statements for the year ended 31 March 2025. 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 1 UR 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: l Robinson G Jarvis (Resigned 5 August 2024) E M Grindey th Company secretary E M Grindey IITCBT
THORNBURY COMMUNITY BUILDING TRUST (TCBT) TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 OBJECTIVES AND ACTIVITIES Objectives and Aims 1. To promote for the inhabilants 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 maintain and manage, or to c(koperate with any local statutory authority in the maintenance and management of a community building (hereinafter called the Centre) for activities promoted by the Thombury Community Building Trust and its constituent bodies in furtherance of the above objects. The charity fulfils these objectives by acptIng the lease from South Glouceslershire 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 to ensure the continued recovery back to pre- pandemic levels of activity. 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. During this accounting period South GIoUsterShIre Council teminated the lease for that part of the building previously occupied by the Day Centre which had provided services for adults with learning difficulties. Some youth service provision continues to be provided by Krunch who are currently South Gloucestershire's preferred supplier for this servi. Throughout the year some special one-off evening or weekend events were held e.g. The Train Fayre, The Spring and Autumn Flower shows and a special evening held by a well known Medium. Alongside the nomial range of community groups using the ntre there continued to be an increasing focus on various aspects of adult fitness, mother and babyltoddler groups and organisations using the ntre for training purposes or health care assessment. There were new regular groups such as ballroom dancing. c(M)kery school for kids and another professional group using the centre for staff training. Most regular classes continued with a couple increasing their hire time. 21TCBT
THORNBURY COMMUNITY BUILDING TRUST (TCBT) TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW The rental income during the year was £127,259 (2024: £168,191). Basic income from aclivities within the centre increased by £20K + despite the loss of income from SGC withdrawing from their lease. 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 six months operation costs. around £80,000 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 or to sustain through a bad trading period or uncertainty caused from a worldwide event. The free reserves held by the charitable company at the year-end amounted to £211,853 {2024: £252,024). Our reserves were increased in previous years in preparation for when SGC stop paying for the ' Adult Services Area ' lease. This formed a marked percentage of the centre's tumover and could take to three years to build up SLrfficient revenue to repla it. The increased reserves will allow the ntre to continue normally for this period. FUTURE DEVELOPMENTS To refurbish the kitchen with the aim to attract groups to use it on a regular basis for training purposes and to hire out for specific events which will require access to a commercial facility for catering purposes. To continue 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 active trustees from the local community. 31TCBT
THORNBURY COMMUNITY BUILDING TRUST (TCBT) TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 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. It was incorporated on the 71h April 2006. The liability of the members in the event of the company being wound up is limiled to a sum not exceeding £10 each. Trustees The Board shall comprise of between four and nine elected Trustees. New Trustees are elected individually at the Annual General Meeting. Trustees may c(Fopt any person to the Board during the year until the next AGM. To recruit new trustees there are permanent vacancy notices in the local Volunteers Offi. on our website and Facebook page. The Trustees must hold at least 6 meetings a year. 41TCBT
THORNBURY COMMUNITY BUILDING TRUST (TCBT) TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 RESPONSIBILrriES 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 wilh 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 concem basis unless it is inappropriate to presume that the charilable 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 BS35 2BB lan Robinson Trustee Approved by the Trustees on 6 November 2025 51TCBT
THORNBURY COMMUNITY BUILDING TRUST (TCBT) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES YEAR ENDED 31 MARCH 2025 I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. 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 accordan 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 respecl of my examination of your charity's accounts as Caled out under section 145 of the Charities Act 2011 I'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 examinerfs statement I have completed my examination. I confimi 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 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 concems 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. ockkn Joshua Kingston BSC. ACA Burton Sweet Limited Chartered Accountants The Clock Tower 5 Fadeigh Court Old Weston Road Flax Bourton Bristol BS48 1 UR Date.. 6 November 2025 61TCBT
THORNBURY COMMUNITY BUILDING TRUST (TCBT) STATEMENT OF FINANCIAL ACTIVITIES (Including income and expenditure account) YEAR ENDED 31 MARCH 2025 Total Funds Total Funds 2025 2024 Note Income from: Charitable activities Investments 127.259 3,384 168,191 2.452 Total income 130.643 170,643 Expenditure on: Charitable activities 168,283 143,927 Total expenditure 168,283 143,927 Net incomel(expenditure) and net movement in funds (37,640) 26,716 Total funds at start of year 264.014 237,298 Total funds at end of year 226.374 264,014 All movements in the current and prior year were represented by unrestricted funds. The Charity has no recognised gains or losses other than the results for the year as set out above. All of the activities of the charity are classed as continuing. The notes on pages 9 to 14 form part of these financial statements
THORNBURY COMMUNITY BUILDING TRUST (TCBT) BALANCE SHEET AS AT 31 MARCH 2025 Company number: 05773927 2025 2024 Note Fixed assets Tangible fixed assets 394 1.363 Current assets Deblors Stock Cash at bank 3,926 224 236,192 5,617 595 267,733 240,342 273,945 Liabilities Creditors '. amounts falling due within one year (14,362) (11,294) Net Assets 226,374 264,014 FUNDS Unrestricted funds General funds Designated funds 10 10 211,853 14,521 252,024 11.990 Total funds 226,374 264,014 For the year ending 31 March 2025 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 behalf by: 6 November 2025 and are signed on their lan Robinson Trustee The notes on pages 9 to 14 form part of these financial statements
THORNBURY COMMUNITY BUILDING TRUST (TCBT) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 1 Accountlng pollcles (a) Accounting convention The financial statements have been prepared in accordance with the historical cost convention (except where olherwise stated in the accounting policy note) and in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom 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 concem, despite the significant unGertainty being caused by the national cost of living 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 entilled 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. In the prior year, income has been restated to better reflect the income Sour$. (c) Expenditu 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 Complian with constitutional and ststutory requirements, are included within support costs and allocated as described above. (d) Tangible fixed assets Fixed assets are held at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows.. Fixtures & fittings Plant & Machinery - 330/0 on cost" - 33 /0 on cost" (e) Taxation The company is a registered charity and it is considered that there is no liability to corporation tax.
THORNBURY COMMUNITY BUILDING TRUST (TCBT) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 1 Accountlng pollcles (contlnued) (n 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. (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. ti) 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 Ihe Trustees. The purpose and likely timing of the use of each designaled fund is set out in note 9 to the financial statements. (k) Pension costs and other post-retirement benefrts The Charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statemenl of Financial Activilies in the period to which they relate. 10
THORNBURY COMMUNITY BUILDING TRUST (TCBT) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 2 Income from: Charitable activities Total Funds Total Funds 2025 2024 Community usage hires South Glos ADS Funding 127,259 102,403 65,788 127.259 168,191 3 Expenditure on: Charitable activities Total Funds Total Funds 2025 2024 Wages Pensions Rates and Water Insurance Bar Supplies Light and heat Telephone Poslage and stationary Advertising Premises costs Security Bank Charges Depreciation Governance ¢osts Independent examinerfs fee Accountancy and bookkeeping 52,207 664 3,318 8,596 2.774 30,237 1,142 1.140 663 59,459 2.972 415 969 45,904 520 3.277 8.496 1,452 34,497 1.080 1,154 735 40.800 1.236 463 889 2.490 1,237 2,262 1.162 168,283 143,927 4 Net incomel(expenditure) for the year 2025 2024 This is stated after charging- Depreciation Independent examinerfs fee 969 2.490 889 2,262 There were no truslees. remuneration, other benefits, or trustees, expenses paid for the year ended 31 March 2025 nor the year ended 31 March 2024.
THORNBURY COMMUNITY BUILDING TRUST (TCBT) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 5 Staff costs and numbers The aggregate payroll costs were: 2025 2024 Wages & salaries Pension contributions 52,207 664 45.904 520 52,871 46,424 No employee received emoluments of more than £60,000 in the current or prior year. The average monthly number (headcount) of employees in the year was 5 (2024: 5), calculated on the basis of average headcount. The key management personnel consist of the trustees and the ntre manager. The total employment benefits received by key management personnel including employer national insurance and employer pension were £18,428 (2024.. £18,429). 6 Tangible fixed assets Fixtures & Fittings Plant & Machinery Total Cost or valuation At 1 April 2024 Additions 10,560 58,959 69.519 At 31 March 2025 10,560 58,959 69,519 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 10,560 57,596 969 68,156 969 10,560 58,565 69,125 Net book value At 31 March 2025 394 394 At 31 March 2024 1,363 1,363 7 Debtors 2025 2024 Due in less than one year: Trade debtors Prepayments and accrued income 2,165 1,761 1.702 3,915 3,926 5,617 12
THORNBURY COMMUNITY BUILDING TRUST (TCBT) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 8 Creditors: amounts falling due within one year 2025 2024 Trade creditors Taxation and social security Accruals and deferred income Other creditors 4,969 511 6,458 2,424 4.772 424 3,497 2,601 14,362 11,294 9 Movement in funds At1Apr 2024 At 31 Mar 2025 Income Expenditure Transfers Unrestricted funds General funds 252,024 130,643 (167,314) {3,500) 211,853 Designated funds Sinking fund TCBT fixed asset reserve Dilapidations reserve 7.170 1,363 3,457 3.500 10.670 394 3,457 (969) Total unrestricted funds 264,014 130,643 (168,283) 226,374 Total funds 264,014 130,643 168,283 226,374 At1Apr 2023 At 31 Mar 2024 Prior year comparative Income Expenditure Transfers Unrestricted funds General funds 228,399 170.643 (143,038) (3,980) 252,024 Designated funds Sinking fund TCBT fixed asset reserve Dilapidations reserve 3.670 1,772 3,457 3.500 480 7,170 1.363 3.457 (889) Total unrestricted funds 237.298 170,643 143.927 264,014 Total funds 237,298 170,643 143.927 264,014 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 propety- This fund can only be used with the permission of SGC. TCB T fixed asset reserve - The trustees have created a designated fund at the net book value of assets at the year-end. As at 31 March 2025 this reserve amounted to £394 (2024.. £1,363). 13
THORNBURY COMMUNITY BUILDING TRUST (TCBT) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 9 Movement in funds (continued) Dilapidations reserve- These funds have been set aside by the charity to undertake repairs. This leaves General funds showing the free reserves of the Charity. 10 Analysis of net assets between funds Unrestricted Unrestricted Designated General Funds Funds Total As at 31 March 2025 Tangible fixed assets Other net assets 394 14,127 394 225,980 211,853 14,521 211,853 226,374 Unrestricted Unrestricted Designated General Funds Funds Total As at 31 March 2024 Tangible fixed assets Other net assets 1,363 10,627 1,363 262,651 252,024 11,990 252.024 264,014 11 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. 12 Related party transactions There are no transactions with trustees or other related parties other than those disclosed as required by Ihe SORP elsewhere in the financial statements (2024: Nil). 14