RegIsted number. 04603405 Charlty number: 1122036 BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
BEAVER COP•1MUNITY TRUST LTD (A Company Ilmllod by guaranto0) CONTENTS Page Refor•nce and admlnl$lratlve delalls of the company, Its Trn$tse$ and advlBers Truste8$' r•port Indepond•nt •xamln•rf$ rgport Ststoment of flnanclal a¢tlvltl8s 10 Balan¢0 ghaet 11 Nots8 to the flnanclal stat•m•nts 12-26
BEAVER COMMUNITY TRUST LTD (A eompany Ilmlted by 9uarant•o) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISER8 FOR THE YEAR ENDED 31 AUGUST 2023 Trustees Rev J Newson, Chair Mr S Cawte. Trustee Company rogl$t•r•d number 1)4603405 Charlty r•glst•r numbgr 1122036 Regl8ter•d offic• The Willow Centr8 Brookfiekl Road Ashford Kent TN23 4EY Company •6crntary Mr5 Shella M Tong Accountants Magee Gammon Corporate Llmited Chartered Alxountants Henwood House Ashford Kent TN24 80H Bank•rs Barclays Bank 17 North Stre8t Ashford Kent TN24 8LF Page 1
BEAVER COMMUNITY TRUST LTD (A Company Ilmltsd by guaranté•l TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Trust68s presont Ihelr annual report together wth the finandal 6tatements of the company for thg year 1 September 2022 to 31 August 2023. The Annu81 Report serves th9 pury)ose8 of both a Trustees, Report and a DSreclors' Report under company law. The Trusleos confirm that tho Annual Report and finanBial statements of the Charable company comply with the ojrrent statutory requirements, the requirements of the charitable companys goveming document and the proS1OnS of the Statement of Racommonded Practlce (SORP) applicable to charities preparing Ihelr accounts in accordance the Financial Rep)rting Standard applicable in the UK and Rewblic of Ireknd IFRS1021 leffeve 1 January 2019). Since the cornpany qualifies as small under séction 382 of the Companies Act 2006, the Stratgglc report require¢J of medlum and large Companies under the Companies 2006 (Strategic Report and Dlrectors, Report) Regulations 2013 has been omitted. Objectlvos and actlvltlts a. Policlgs and obJacllve8 Charltable Obj•ctiv• o enhance the dpvelopmenl 8nd education of children under slafulory school agg by encouraging parents to understand and provide for the needs of iheir children thtvugh communily groups and rgglsletsd settlng$. To support th& wgllbeing of our I/ families 8nd their childTrn by pn)motin9 healthy lifestyl• easing poverty and hunger through fvndgdprowsit)ns such asprovit*ng meals and hygiene products." Bongflts The bgnelits to local chiklren. familles and communlty includg.. Making nUtronal meals available to the chlldren Ihrough the Nursery Provision.- Through Ihis [vIsion educating and encouraging parents to understand tho importance of nutritFonal meals,. ProvHJing a safe, Inexpensive, nutritional and encouraging community fé for parents and children to sll and eat togethèr.. A charitable and varied community vision,. The benefft of p8rtnership wth Kent County Council Children's Centres and others to help Sustain the vi8ion- Provldlng volunteerfng opportuniets to kncal people; Provide l¢xal employment opportun8$ within a u)mmunlty whh the highest levels of unemployment thin the L(1 Authorlly area. Future Trust ac11vit$ might include.. To work alongside Chlldren Centres and thelr pathers dèlivering the Healthy knfestyes ag6nda,' To promote social responsibility among children. parents and young pèople,- To provido advlce and practical training in childcare to dysfunotional families. To provide help an¢J advice to persons in relation to debt and personal finanLyal management and slmllar m8tters', To help relve persons who ale in condttFons of need or hardship., To encourage or stimulate employment opportunlties amongst f8mily membgrs,. To promot8 racreallonal facilltios for young paople. In selting oblectives and pLgMing for activities, the Trustees have given due eonsideralron to general guidancè published by the Charity Commissitin r818ting to public benefrt. including the guidance 'Publlc benefft.. running a charity IP82)'. Pagg 2
BEAVER COMMUNiff TRUST LTD (A company Ilml¢ed by guarantse TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 hlov•m•nts and porformnc . Revi•w of a¢tlvitio¥ The maln oblectlves for tha year eontinuad to focus on Ihe dev8lopment and promotSon ot the Tnjsl's day caro nursery and communlty café. The strategi8s employed by the Trust to meet these objectives Induded lh8 followng.. Provide affordable high-qualty earfy years childcar8 from 7.30- 6pm fiv& days a week and a minimum of 50 weeks a yaar, to a community wtth hHJh levels of deprivation and rxiverty" Support the Govemment initiatives of Wrap Around Education,. 'Every Child Matters, and 'Extended Schools, by widening and enhancing the seNlce provisKm to the wider community. Continue lo develop $grvi¢e provlslon in p8rtnership th Sure Start and in line wth the Chiklren's Centr9 policy, Worklng In p8rtnershlp wrth other agencie$ and seThrces Including Educatlon. Ashford Borough Coun¢il. Kent County Council and FareSh8re, to 8nsure th8 best services ar8 available to help us achleve our objectives and match the needs of the dient population of the communty,. Provldo a high-quallty Community Café provision al the Children's Centrns from 8am- 3.'30pm flve days a weeK 50 wgeks a year.. Empky apprentices within the nursery. Provlde volunteerfng opportunities to local peopb that may have been oui of work for a perlod with a view to g8ining the confidence to be ab to consider employment or fvrthgr educ8tion and vulner8ble adults. The current principle activities of the Trust ar8 to delIr eady y88rs educ8tion and help support the well belng of chlldren and families in tho communty. We achleve this through th service provlslons. b. Mursory Kld(ile Kapers Nerghbourhood Nursery is based in the Trust bulldlng, The Wlllow Cenlre. 11 is Otsled Registgred EY295433 Isialus.. Inadequate) (Good status was achiaved in December 20231 for 93 full day care children's places for chlKlren agèd from 3 months to 5 years. It currenuy provid8s a numbar of sesslons which means that thera arg over 160 famllles reglstered to Use the nursery and In excess of 170 different children uslng the nursery each week. This ty far exceeds the govemmenl requirements for thls size project. The nursery wnlinues lo be the Trusvs princ4ple fund 9gner8tor and we currentty support a nursery team of 32 personnel which include$ 2 apprenlices. We 8180 have some volunteer support. The nursery partlclpalas in offertng the Deparlment of Edu¢8tion earty education places for tsvo r-oldS lfree for 2} on a sel criterion to bo mèt by the families. These places could be offerfrd as full.lime foe-pawng places but are rled for Iow-lncome families as part of tho charitabbe ethos of Beavar Community Trust. Page 3
BEAVER COMMUNI TRUST LTD (A company Ilmll6d by guorantso) TrUSTEES' REPORT {CONTINVED) FOR THE YEAR ENDED 31 AUGUST 2023 Achi&vament8 and perfornHn¢e {continu•d) The Nursery headllnes for this year incknde.. Nu The Nursery ha5 operated as fully open throughout the year. Folbwing an Otsted vlsil the Nursery was placed Into spgcial mea$ure5 a reduced gradlng. Thls adion amongst other things en8bled the Nursery to receive weekty freo swcialist support from the Education People wllh a view lo athievlng a Good status onee more. A subsequent •valualion of why the Nursery stslus was marked down revealed a number of probable reasons which included. 11} Post Covld low staff moralo. 121 Children starting post Ihat had lttle or no interaction wlth other people or chlldren from birlh. 131 No fundlng lo offer irtcrease In salories for several years IbariThJ minimum wage increases) 141 Three changes of Nursery Manager In Ihls lim (51 Two chang8s of Administratknn staff in this fjme Slaff training has continued. c. Café The Café headlines for this year have been split into secllon$'. Communil Cafe The Board continues to support our LKJht Brtes Community Café. Athough the café faces Ilmitation due to it5 l¢xation wrthin children's centre in an 8rea of hiqh dgprivalion, its stsff continues to tske full responsibility for their provlsion. The café puls a vital prO810n at th8 heart of the community provldlng m8ny es¥enlial beneffts to all users and the Ioc81 nelghbouthood. The beneffts the café provldes includg,. providing nutritious meals to the children attending Klddl6 Kapers Nursery and to families oxperien(4ng flnanaal hardship throughout the school hollday period., provide a safe and wethming venuo to the community ensuring that we are fulty inclusive; share any Su[U$ food wlth lo1 charities and families in need: provide a safe environment for vulnerable volunteers- signpost café users to othor services provided thin the centre. This SUPPOrt Is reward enough for the hard work nooded to maintaln such provlslon5 to the very highest stsndards. This has also t*8n appreoialed by the Local Authority Environrnental Hgalth Oepartmgnl who through their catering 'Scores on the Doors, aw8rded lop score of five stars to our café. A great achievement ftr all the staff and volunteers involved. The café operalos with a team ol contracted stsff and two casual employees. The ¢8fé offers volunteering experiences lo l¢xal people which has enablod them take on paSd empbymenl, use their vdunteedng experienc& lo undertake adult education courses and, most importantly, feel part of the community. Pag8 4
BEAVER COMMUNITY TRUST LTD IA company Ilmltod by guaraTht) TrUSTEES' REPORT ICONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 AGhiov•m•nt$ and porfornia• (¢ontinu•d Fare8hare Outreach Service The Café continue8 to operate a For08hare Outreaeh SeNc* for families along with other provisions for free or at a small charge. The resulng public benefit pded by the café Ss judged. by the board. to be extremety valuable in prowding employThent, volunteering, and affordablg heatthy food for a dlverse rangg of Bece users In¢ludlng young children. Through offerlng a safe place lo come to, vgry re8sonablg healthy food choices and thg opportunity for families lo gel around the table and enjoy a meal together. which is $$ like to happen at home, these benefits to such a challenged community remain difficult lo quantlfy bul clearfy are invaluable in supporting the wellbelng, hoalth and devekjpment of children and parents In our Ccfnmunity. Financial r•vl . Golng concern During this period th¢ Trustees had 8 reasonable expectation and Confiden that tha Trust has adequate resources to conlinug in operational existence for the foreseeable future. For this reason, we c¢Jntinue to adopt the going concem basis in pparing the financial statements. Further details regording the adoption Of the going corKem basis can be found in tho ACCOUnn9 Poli¢i9S. b. Rgs0r¥os pollcy 88av8r Communty Trust seeks to m8inlain general re$S %thich Is equalent to three monlhs running costs, rrenlly estimated al £110,000. The wmpany maintains a 11ght control ovèr outg)ing resources and the value of the reserves required is reconsFdered annually. c. Fina141 rlsk managèment Obj01¥•6 and polici•s Ov8rn11 the financial pgrformance of 8&wer Communlty Trust Ltd saw a surplus In the year of £2,194 compai8d to last yearfs deficit of £31,886. During the year the charfty had thr88 major strgams of Incoming rgsources from tharitablg actfvlU88. The sources of th6 Incom& were from the nursery. café and Sure Start Ashfor(I contsibJtion. Kiddie Kapers has shown a Surplus In the yEar amounting to £5.8K 12022.. £20.1KI. The d8cr8ase in perforniance is due lo an overall decrease in fees for the y88r. The government fvndlng accounted for £259.4K 156.4%} which is an decrnase of £66KK167.5°A} In 2022-, to mitigate Ihls reduction private fees increased from £156.7K {32.5QAI in 2022 to £200.4K143.6V•). The govemance cx)sls have been recognlsed as an Indi¢1 cost of the nursery. In addi0 to the obove. govemance Costs have inGreased sllghlty from £55.5K in 2022 to £56.OK Ihis year. The café has seen a significant increase In lumover in the year lo £45.8K from £23.8K in 2022. Th& respectwo running costs have decreasod sllghlty to £52.SK In comparl8on to £53.3K In 2022. resulliro in cafa's reduc4ng its operating deficit from £29.4k lo £6.6k in the year. This year ha8 seen 8 eontlnuance of the contribution iowards premlses ¢osts from Sure Start Ashford, amounung lo £24.2K12022.' £17.4KI- This contribution is fully gxpended against the running costs (rf the buildlng. The balance of re8tricl8d funds carrl8d forward at 31 August 2023 1$ £209.833 {2022.. È211,753}. The balance of unroslricted fvnds carried forward al 31 AL4U8t 2023 is £132.603 (2022.. £128,489). Page S
BEAVER COMMUNITY TRUST LTD IA eompany Ilmlted by guarantoo) TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2023 Struclur•. govemanu and management a. Constitull¢>n 888ver Communty Trust IBCTI Is a company limit8d by guarantsg and wa8 Incorporated on 28th November 2002. The Trust was gronted Charllable Sta$ Dacember 2007 (11220361. The company was 8slablished under a memorandum whl¢h estsbllshed the objects and powers of a ¢harllabl& company designate and is govemed under Its Articlgs of Association. In the event of the company boing wound up members are required to contributg an amount not exceeding £10. b. Prfn¢lpal actlvidos, r•crultm•nt and appointment of Trustvs The trustees of tha company are known as members of'The B08rd' and meet al the Trust's headquarters known as The Wlllow Centre. Undar the Company Artlcles ono third of the members rellre al the Annual Genoral Meating but rf willing to act, Can be re-appointed rf that vacancy is not filled by th8 Board. The Trust's tsvo ourrenl prlncipal acllvilies are: To run 8 93-place full day care nursery knowTr a$ Kiddle Kapers. This me#ns that the Tnjst invarfably foSeS its attention on the Gommunity il seNes a Spla1 emphasls on families with early years children13 nM)nlh8- 5 $) To run a community cafe under the trading name Light Blt88. This means belng abl& lo provide a number of communlty servicos especialty hot nutritional meals lo children vlthln Kiddie Kapers nursery at The Wlllow Centre The Board alwayE seèks to ensure th6 needs of the Community and cliants are approprfately refiècted through the div8rsity of the Iru$19e body. The Board regularty revSews Its represgntalion of these area$ and Individual skllls base. Indiwduals are then iruld or approached lo offer themsets for alection to Th& Board whgrg approprlate. Plans for fvturo porlod8 During this period the Charity continued to seèk out approprfate fundlng avenuas to maintain and develop its sefvices. This was ever more ¢hallenging in the current ganeral enDm climate and compalition for funds Is vigorous. The Charity corbtinuS1Y strived to make the organl8ation more efficient 81 every level and to keep running $ts lo their mlnimum. Our goals for the 202212023 year included: Future development of Kiddie Kapers lOCng Snto the possibility of havlng an additional plece of land to use as a Nursery and Community Garden With the Ofsted downgraded status we were unable to tske on any new funded children until that hanged. The Nursery was also penalised by their Insure who increasèd Ihg premium by £3000 per year. KCC fijnding conlinued albeit with uncertainty about amounts and liming. This uncertainty of fundlng Ilow did cause th8 Board lo work hard lo ensure sufficl8nt cash funds were in place each month lo pay salaries. However, the year onco again proved lo be far morg chaIn91ng than expected. It 1$ a ¢redil lo the Trust Business Manager and the Board that ck*$ure has been avoided and 88 a result 2023124 is looking far more encouragiro. We anticipate that the Govemment changes to the rate of fvnding per thild per hour wtll ease the challenggs bul not elimin818 them. The Board continues to Work hard to look to replace the sustslnability funds usad but, like most Charities, is finding il ever more difficult to attract fvndlng 8UPPOrt in this area. Page 6
BEAVER COMMUNITY TRUST LTD (A company Ilmltod by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 Conclu$lon The Trust has once again perfomièd well in this year despilo the challgnges of fvndSng. 0ft8ed and staffing. That said Ihe Trust has maintained rts excellent repulation within thè ttjmmunty, ensuring rls service d81ivery is of the hlghesl standard. The Trust Ss s8en by the communtty BS 8 plgce lo ctrrne for help they are in troublo 8nd we seèk to condnue lo help our oomrnunity in this way whanèvar arKI h¢)wever we can. The Board 15 reviewlng its Trustee structure and Governance proc8dures in Ilne with the Chaty Commissloners current guldance and is currentjy appolntlryJ new Trustees. The outcome of Ihls will gnsure that In fijtu years tho Trust will be led by highly compelenl and rnring individua18 who bring added value and grfting lo the lead8rship. Th8 Trusts commitment lo providing a hl9h stsndard of Care and eéucalion wlthln the nursery is evident in th$ aecounts up until the Pandemic arrived in 2019. Until that time the high quallty of nutsèry provislon had meant that all the child plac8s were taken up and a waiting list was in created and we as a Charity were destined for a brlghl and provldent future. The Impact of th8 Pandgmlc on the Nurs8ry was signmcant and 8UII deliver8 ongoing challanges to this day. However thls has not be&n at the expense of our very high standards of Eady Years provlslon. The profftabllity of the business and benellls to th8 community remain hlgh on the Boards agenda. The Earfy Yèars s8ctor has in the Tnjsts opinion been serlously underfunded for many years and until that chang8$ the Board has to accept that an Earfy Years Provislon, especial one in the Charitsble Sector, is always vulnerable lo dosure. (Over 5000 Early Years provisions have closed during 202210223) Dèspite all the ongoing challengès The Trust continues to try lo achieve the very hw4ha$l standards expected of us by our users and the Chadty Commissionars. Page 7
BEAVER COMMUNITY TRU8T LTD (A cOMnY Ilmll•d by gumnte•) TRUSTEES. REPORT (copinNUED FOR THE YEAR ENDED 31 AUGUST2V23 St•tthenl otThithM' rnspoMlblllUo• The Trust (wtho 8r• a180 th• directors of th8 (¥Anpany for the purp0898 of company18w) are r•w4blo for ' weparfng thg Twslaè8' roport and the ffin8rKial Stster In 8cc¥rdarKe wlth law and Unrt•d ngdom Aceountlng SlaThJar(18 {Un6ted KIngdn G8nerally kneptod A¢counllrwJ Ptactk•l. Conwany lknv wulrns thg Tno1868 to rA8paro Iln8ncfal 6tstsmen18 for •arb finan¢iél . Undèr company l¥w. Ihè Truste rnu8t not approve thg 1kn8jaI $tatements unlo58 they aro s&tl8118d that th8y ts a trua and falrvlew of the statg of affalrn ol the ¢ompany and of tts Irtcomlrw r•8¢Jur¢ts and apocatk)n of indudlTrJ tt8 Incrrfn8 and expondIre. for that p10d. In proparfng theso fir141 stknls, the Tru8bo8 arB reqrnd to: $elè¢t $uitsbfe acvn1[ng pokjos ar then them ClS1on1. obs8rve the malhod8 aThJ pftnclple$ of the Charfties SORP (FRS 1021: moke judgments and acwintlThJ 8thatss that arn reaeonable and Fxudent. gtate Yth8th8r 8ppllcable uKknOuin9 Standoth {FRS 102) havo be•n foiknwed. Sub1 to any matsrfal (PartureS dlxlosed and expfalnod in the tlnandal ststemenls.. prepare thg )Irwthl 8tsiements tho golng cgncem unlBss It Is InapweFrftste to pre8ume that tho c4)mpanywNI trMlrss. The Tru8t•OS aro r•spcm$lb for k88plrvJ 8¢kqu&ts ac¢y)unting r8cord8 bhat are 8ull&ienl to show th8 MPanS transaclJ)nB and <ls(aos6 wtth r9497ble 4XUTa¢y at any Ilma the lh)8nd pti4tiM of thg ompany arKI enable thom to ontsuro that frnndal staternts c<xnpty CorrpanloB Act 2006. Thoy are akn respon81e for 88fegLMrdlng the a88ets of th¢ cornpany and h)r lathg r•4wblF sleps fly tho preV•nIk and detgclbn of fr8ud ab)d oth•rlrrowlarllle& Approvd byordor ofthe mèmbern oftho ofThrnts88 on 7 M8rth 2W and sned en thelr tehaif by. J Nawson halr of Trvstwsl Pago 8
BEAVER COMMUNTrf TRUST LTD (A Gornpany Ilmftgd ty guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023 Indewnd•nt examinorfs r•port to tho Truste¢s of Bettr Communlty Trust Ltd rth• company'l I report to the charity Trustees on my examination of Ihe aCc(nIS of the cempany for the year ended 31 Augu8t 2023. R•$ponsibilltlgs and basls of report As the Trust9gs of the Gompany {and its dlreclors for the purposes of company lawl you ar8 respon81ble for tho preparation of the accounts in 8¢wrdance wllh the requlremenls of the Companle5 Act 2006 Cthe 2006 ACVI. Havlng sali8fied myseW Ih8t the accounts of the company are not required io b& audited under Part 16 of th 2006 Act and are eligib ft)r indèpandenl examination, I report in respect of my examination of the companys accounts carried out undar s8Ctlon 145 of the Charities Aet 2011 Ilhe 2011 Act,). In carrying (Mji my examlnation I have followed the Directions given by Ihe Charity Commlswon under socllon 145151(bl of the 2011 Act. Independenl ?xamlnoV$ $t•tem9nt Sinc9 the companYs gross income exceeded £250,000 yDur examlner must be a member of a body listed in 58dion 145 of the 2011 Art. I confirm that l am qualrfied lo undertake the examlnation because l am a member of ICAEW, which is one of the listed bodle8. I havg Mpleted my examlnalion. I confirm that no matters hav9 come to my att8nlon in connectknn th the examination giving me cause to belleve.. accounting records were not kept in respect of the company as required by Sect 386 of the 2006 Act.. or the accounts do not accord wth those records,. or the accounts do not compty th the accounfjng requirements of Sect 396 of the 2006 Act other than any requirement that the accounts give 8 Yrue and fairf wew which is not a maller considered as part of an independgnt examinatlon- or the accounts have not been prepared In accordafrce wlh the methods and principles of the Slalemènl of Recommended Practice for accounting ant1 reporting by charities18pplicabl8 to charities preparing their accounts in a¢¢ord8nce wrfh the Financial Reportirvj Standard 8pplIcae in the UK and Republic of Iroland {FRS 10211. I have no concems and have come acr08s no olher matters in conn8ction the examination to which attention should be drawn In this roport in order to enable a proper understanding of the accounts to be reached. Thi$ report 1$ made SOlY lo the companls Trusts8s, a8 a bcJy. In accordance with Part 4 of tha Charities (Accounts and Reports) RegUlaon$ 2008. My work has bean undertsken so that I might state to Ihg company's Trustees tho89 matters l am required to state to them in an Indepandenl examin8Vs report and for no other purpose. To the fullost 8Xtent perrnltted by kw, I do not ac¢epl or assum& sPonsi.11ty to anyone other than the company and the companys Tru81ees as a bcrfjy. for mywork or for this report. Signed." Dated.. 7 MarGh 2024 Antony Tutt FCA Mageo Gammon Corporats LSmltod Charterfrj Accountants Henwood House Ashford Kent TN24 8DH ICAEW Page 9
BEAVER COMMUNITY TRUST LTD {A company Ilmltsd by guarant••l STATEMENT OF FINANCIAL ACTivrriES (INCORPORATING INCOME AND EXPENDITURe ACCOUNTI FOR THE YEAR ENDED 31 AUGUST2023 Rèstrl¢ted Unrèstrfctad funds fund$ 2023 2023 Total funds 2023 Total funds 2022 Incom• from: Donations and legacie$ Charitable actlvilies Other Iradlng activities Investments I71 515.627 70,023 358 2,871 515.627 70,023 358 30,355 482, 109 42.450 Total Incom• 588,879 588.879 555.578 Expondlture on: ChOritab activlues 1.920 584,765 586.685 587,464 T11 oxpendlture 1,920 584.765 586.685 58T,464 N•t movoment In funds {1,920) 4,114 2,194 (31,886) Reconcllialion of funds: Total funds brought forward Net mov6menl in funds 211.7S3 {1,9201 128A89 4.114 372.128 (31.886) 2.194 Total fund$ Carrlgd forward 209.833 132,603 342,436 340,242 The Slatemgnl of financlal aclivilles Includes all gains aTrJ Ios59s recognl8ed in the year. The notes on page8 12 to 26 foThn part of these financiol statements. Pagg 10
BEAVER COMUUNIYY TRUST LTD (A Compw by gunI•• REGI¥TERED NUMBER: IJ460340J BALPWCE SHEEr A8 AT 31 AKIUST 2023 Tanglbl8 888•ts 12 33147J 13 14 1257 19.709 Ca8h at barth and kn h 20.118 9,556 CredtThB.' #nounts lalllw du8 wlthln onè 31.222 15 (24•08} (21.243) N•1 currnnt •M•ts 4901 9.979 Totsl a¥Mt• l•M ¢urrwrt N4blHtI•B 340.242 Tèlal Mt a•wts Ch•TIty fvnd• Restrfctad fvnds 17 17 2M.133 131003 211,763 12Q489 Total nd0 340.242 The memLw8 hav8 Th)t rwlred the (¥¥wny tr) oblakn an a111 for the In qu•slkm In aco)thn¢b llh ectknn 476 (rf CthynlA¢t 2c. Tru8t608 a4dg& IMr r•JpM8lbNltlotr for e¢nWng 1th rnqutrem•nts of wNh a¢MnUng re[11 ry•p8r•tk offinarthl 8tat¢m8nts. The flnanra818t8l•mènts have be•n wepared fri th• apthblo to onths 8ulrt to thg sm&1 compan168 reghno. The financ4al 8tatom•nts approved for h8ue by the Tru8teo$ on 07 Mar¢h 2024 and ¥ their t4hoff ty. ir of Truotees The note8 on 12 to 26 fcym part0ftr (knanc slatomonts. P•J•11
BEAVER COMMUNITY TRUST LTD (A Company limited by guarant•0 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 G•n•ral Infomiatlon Beaver Communlty Trust Limlted Is a prlvate company. limlted by guarantee, Incorporated in England and Wales. The company registration numbgr is 04603405. The regi81ered office address is Tho Wlllow Centre, Brookfi8ld Road, Ashford, Kent. TN23 4EY. Accounting pollcios 2.1 Ba$1$ of preparatlon of flnanclal stat•rnonl8 The financial ststemenls have been propared in rdan{ with the charits SORP IFRS 1021- Accounting and Reporting by Charit$.. Statement of Re¢ommonded Practice applicable to charities prgparlng their Bcoounl8 In accordance wllh the Financial R8POrting Standard appli(ble in th& UK and Republic of Ireland IFRS 1021 (effective 1 January 2015}, the Financial Reportlrg St8fKlard appllcabl8 in the UK and Ropubllc of Ir6k4nd IFRS 1021 and the Companigs Act 2006. Beaver Communty Twst Ltd maats Ihe definibon of a public benefft entity under FRS 102. Assets and Ilabllilies are initially recognised al historical cost or transaction valug unle88 Otherwise staled In the relevant accountlng poli¢y. 22 Incom• All income is regnIsed oiKe the wmpany has en111men1 to the Ineome. il 18 probable that the income will be received and the amount of income reoivable can be measured reliabty. Grants are Includgd In the Ststemenl of finandal actmties on a receivable basls. The balance of income received for speclfic purposes but not expended durfng the pertod is shown in th8 relevant ftjnds on the Balanc sheet. Where incomg Is received in advance of ents'tlement of receipt, 6ts recognilbn Is deferred and included in credltors as doferred income. Where enlltlement 0r$ fore income is reived. the income is accrued. Income tax rewverable in relation to investment ino)me is recognised al the Ilme the investrnent Income 1$ receivable. 2.3 Exp•ndlture Expenditurg is retsJgnis8d once there is a legal or nstruCtive obligatw to transfer economic bengfft to a third paty, rt is probable that a transfer of eGonomlc benefits wll be reqLFifgd in settlem8nl and th8 amount of the obllgation can bo measurgd r8llably. Expendlture Is elassifi8d by actlvity. The costs of e8ch activty are made up of the total of dlrect costs and shared costs, Including support costs Involved in undertaking each actlvty- Diroct costs attributable lo o slngle activity are allocated directly lo that actlvity. Shared costs which contrfbute lo more than one actrvity and support C051s whlth are not attributable to a single actNIty are apportSoned between those activities on a basis consislenl wilh the use of resou9$. Cgnlral staff costs are allocated on the basis of time spgnt, and depredallon charg&s 8llocat8d on the porbon of the asset's use. Expèndthjre on chatable actmlies is incurred on diroclly undertaking the actmties which further the mp8nV8 objectives, as well as any associated support costs. AII 6xpgnditur8 Is inclusrve of 1cOver0b18 VAT. Page 12
BEAVER COMMUNrrY TRUST LTD (A company Ilmlt•d by guaranl•fr) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollcles (contlnugd) 2A Govemment grants Govemment grants relatlng to tangible fixed assets are treated as defvrred income and rg1985&1 to the Slalemgnl of financial 8Gtivf(ies ovar the expected useful lives of the 85sets concgmed. Other grants are credited lo the Ststgment of financial actlvhl8s as the felated expenditure is incuned. 2.5 Interest rec•ivabl• Intere81 on fund8 held on deposS1 Ss Induded when rec8ivabl8 and the arnount can be measured rollably by the company, thls Is nomialty upon nollficatton of the interest paid or payable by thg instilutlon whom the funds are deposited. 2.6 Tangible fu•d assets and dopr•¢lation Tangible fixed a889ts cosliNJ £250 or more are c8Pft81ised and recogni%d bthen future economic bgnefits are probable and the cost or value of the asset can be measur8d reliably. Tangibl8 fixod assets are initially recogni8 at oost. After recognition, under the cost model. langible flxed assets are measured at $t less accumulated depreualion and any accumulated impairment losses. All costs Incurred to bring a tangibla fixed asset into its int)dad working condition should b& includ8d In measurement of cost. Depretiation Is chargeil so as to allocats th6 cost of tangble Itxed assets less their residual value ov8r their estimated u$eful lives, as below. Deprecialon 1$ provided on the follong bases.. Leasehold Improvements Fixtures and ffttings Office equipment Nursery equipmont - Over the tenn of the leas8 25% reducing balance 25% reducing balan 25% reducing bala8 2.7 8to¢ks Stocks are valued at th8 bwer of cost and net real89b vdue after m8klng due allowance for obsoletg and slow4noving Stocks. Cost includes all dlrect sts and an approprlate proportion of fixed and variablo overheads. 2.8 Debtors Trade and other debtors are rècognisgd at the settlement amount after any trade discount offered. Prepayrnents are vslued at tho amount prepaid net of any trade discounts dua. 2.9 Ca8h at bank and in hand Cash at bank and in hand indudes cash and short-tem hlghly liquid InStments with a $hort maturity of threg months orlgss from th6 dale of acqul8ltlon or opening of Ihe deposit or similar aceounl. Page 13
BEAVER COMMUNrrY TRUST LTD {A company Ilmltgd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollcles Icontlnued) 2.10 Llablllties and provision$ Li8bilrties are reccJnised when there is an ObligaOn at the BalanGe sheet dale as a result of a past event, 11 is probable that a transfer of economic benefit wll be requlred in settlement, and the amount of the settlement be estimatsd reliably. Llabllrties are recognised al thè amount that Ihe company anllclpates it wll pay to $¢ttle the d¢bt or the amount r( has received as advanced payments for the gwds or s8rvices11 musl provKIe. Provlslons aro measured al the best estimate of the amounts roqulred to setde the obllgation. Where the effect of the time value of money is materlal. tho provision Is based on the present value of those amounts, discounted al Ihe prè-tax dlscounl rate that reflects the risk$ spectfic lo the lIalty. The unwndirttJ of the di5Unt is recognSsed in the Statement of financial a¢tivtbes as a finance Gosl. 2.11 Flnanclal Instruments The company only has flnancial assets and finanual liabilities of a kind that qualify as basic fin8ncial instruments. Basic financial inslrumenls are inhlally recognised at transaction value and subsequenuy measured at th•ir settlement Value with the expIlon of bank loans which are subsequently measured at amortisèd cost using the effective interest méthod. 2.12 P•nslon$ The company operates a defined contribution penslon schemg and the pension charge repr88ents Ihe amounts payable by Ihe company to the fund In respect of the year. 2.13 Fund a¢¢ountlng General funds are unraslricted funds which are available for use at the dIretiOn of the Trustees in fiJrther8nce of the general objeclrves of lh8 company and which have not been designated for other purFJoses. Deslgnated funds comprise unrestrictéd funds that have been set aside by the Trustee8 for particular purposes. The aim and use of each designated fund is Set out in the notes to Ihe financial slatgments. ResMcted fvnds are funds whith are to be used In accordance wRh specific restrlthons impos8d by donors or which have tren r8ised by the company for partI18r purpos8s. The costs of ralsing and adrnSnlstering suGh fvnds are charged against the specific fund. Tha aim and use of 8ach reslricle fijnd is set out In the notes lo Ihe financial statemènts. Investment income, gains and losses are allated to the appropriate fund. Pag8 14
BEAVER COMMUNITY TRUST LTD (A ¢ompany Ilmltod by guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Income from donations and1•ga¢los Rostrfct•d Unrestrfcted funds funds 2023 2023 Total funds 2023 Total fvnds 2022 Donations Grants GDvemment grants 2,871 2,871 9,938 19.769 2.871 2,871 30,355 Tot812022 1.250 29.105 30.355 In¢ome from charhablè actlvltles Unrostrl¢ted lunds 2023 Total funds 2023 Total funds 2022 Fees recelved 515.627 515,627 482, 109 Income from oth•r tradlng actlvltl•6 Income from non charSlabh tradlng actlvltlgs Unrnstrl¢t•d funds 2023 Total funds 2023 Tot81 fvnd$ 2022 Light Biles Café Raffles and fundraising Sure Stsrt Ashford conlrlbution 44,965 833 24,225 44,965 833 24,225 23,807 1,224 17,419 70,023 70.023 42.4&) Page 15
BEAVER COMMUNITY TRUST LTD {A company Ilmit•d by guarant8•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Investment in¢ome Unre¥trl¢ted funds 2023 Total funds 2023 Total funds 2022 Bank inlerest 358 358 664 Analysls of wjendlturn On charhabh actlvltle8 Summary byfund ty Restrl¢t•d Unrgstrlcted funds funds 2023 2023 Total 2023 Total 2022 Cost of operatSng nursery Cost of operating buildlng Costs of operating café 1,920 508,045 24.240 52.480 509,965 24.240 52A80 517,536 16.675 53.253 1.920 584.765 586,685 587,464 To1812022 579,910 587,464 Anaty818 of oxpondlture by aetlvltles tlvltiès undertaken Governan dlrgctly ¢ostg 2023 2023 Total fundi 2023 Total funds 2022 Cost of operating nursery Cost of op8rating bullding Costs ofoperating café 453,975 24.240 52.480 55.990 509,965 24240 52,480 517.536 16,675 53,253 530,695 55,990 586.685 587.464 Tot812022 531.g57 55.507 58T.464 Page 16
BEAVER COMMUNITY TRUST LTD IA company Ilmitod by guaranto0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 Analys1$ of expendlture by actlvitios l¢ontlnu•d) Analysls of dir•ct ¢o¥ts Cost of op•ratlng nursory 2023 ¢08t of oporating building 2023 Co$t8 of op•ratlng café 2023 Totsl funds 2023 Total funds 2022 Staff cnsts Depreciation Provisions Resour Premlses expenses Training and re¢ruilment Printing, postag8 and statioftery Repairs and maintenanc6 Cleaning Travel and entertainment Food 372,610 34.477 407.087 558 209 21170 38,312 8,631 415.990 745 141 13,816 32.334 10.572 24 7,916 30,842 527 12.872 324 T74 2,333 2,747 269 22,170 14,072 8.631 24,240 7,435 22.282 2.038 7,435 22,282 2.038 17.375 17.375 70 Professional lees Staff unrform Marketing Bank charges 416 1,514 2,538 416 1,514 2.538 453.975 24.240 52.480 530,695 537.95r Tot812022 462,029 16,675 53,253 531,957 Page 17
BEAVER COMMUNITY TrVST LTD (A company limll•d by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 An*1 of exp¢ndlturn by a¢tlvillgs (contlnuod) Anatysls of support ¢osts Cost of op•r•tlng nursery 2023 Total fund$ 2023 Total fvnds 2022 Staff costs Cl8aning and waste Services Independgnt examiners, fee 43,926 8,946 3.118 43,926 42,868 10, 151 2.488 3.118 55.990 55.990 55,507 Independent oxaminerfs remuneratlon 2023 2022 Feès payable lo the companls Indepandent examlner for the Independent examlnalion of the companls annual accounts Fees payable to the companls Indep6ndent examiner In respect of. All other services not induded above 2,893 2.283 225 205 Page 18
BEAVER COMMUNrrY TRUST LTD IA c¢)mpany Ilmitod by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 10. Staff costs 2023 2022 Wages and saL9d68 Social securtty costs Contribution to delSned c4)nlribution pen8lon schemes 424,655 19,668 6,690 429,546 22,067 7,245 451.013 458.858 The averag8 number of pgrsons gmployed by the C¢Jmpany during Ihe year was as follows.. 2023 No. 2022 Adminlstration Nursery Cafe 24 30 30 34 No employee r8¢ewed remuneration amunllng to mor& than £60.000 in elth8r year. 11. Trustses. remunerallon and •xpense¥ Durfng Ihe year. no Trustees r8coived any rgmuneration or other ftefIts f2022- £NIU. Duilng thg year Trustees recelved relmbursament of expenses amounting to £NIL (2022 - £NIL). The reimbursement of expenses repres&nted Staticery and tra1 costs Suffered in the course of charitable activities. Page 19
BEAVER COMMUNrrY TRUST LTD IA company Ilmited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 12. Tanglblfr flxod assets L•a$ehold improvomen Flxtums and flttings equlpm•D* Nursèry •qulpm•nt Totsl Cost or valuatlon At 1 S8ptemb&r 2022 Additions 32&618 11.230 39.796 19,729 81,992 470,135 11.716 At 31 August 2023 339,848 39.796 20,215 81.992 481051 Depreciatlon At 1 September 2022 Charge for the year 24,922 2,781 36,152 17.974 518 60.824 5,294 139.872 9,504 At 31 August 2023 27.703 37.063 18A92 68,118 149,376 Net book value At 31 August 2023 311145 1,723 15,874 332A75 At 31 August 2022 303,696 1.755 21.168 330.263 13. 8tocks 2023 2022 Café goods 1.257 1,548 14. Debtors 2023 2022 Trade debtors Prepayments and accrued Income 15.421 4,288 12,905 7.213 19,709 20.118 Pag8 20
BEAVER COMMUNITY TRUST LTD (A MpanY Ilmlt•d by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 15. Cr•dltor8: Amounts falllng du• withln one year 2023 2022 Trade Creditors Other taxation and 50CI81 secuty Other cr8dilor8 Accruals and deferred income 5,557 5,395 4N17 10.439 9,413 91 4,725 7,014 25,808 21.243 2023 2022 Deferred income at 1 September 2022 Resourc8s deferred dunng the year Amounts released from prevlous perio(Js 4676 3.321 12301 33,822 4.588 (33.734) 7.767 4,676 The deferred income consists of £3,409 for monies received for chlkjca servrces not yet provided12022 - £88) and £4,358 for rates recharged in advance12022- £4,588). 16. Flnanclal Instrumeftts 2023 2022 Flnandal as8•t$ Financial assets measured al fair value through income and expendiknre Financial assets m8asured at 8mortised cosl 14,803 15.421 9.556 12.905 30,224 22,461 2023 2022 Flnan¢ial Ilabllltlè$ Flnancial liabilities measured at amortised cost 9.974 14. 138 Financial assets measured at tsir value through incom8 and expenditure comprise bank and cash baianoes. FlnancAal assets that are debt instruments measured al amortlsed cost complw debtors. Financlal Ik9bllMies measured at aM0Sed cosl ¢omprf8e eredllors and other credltors. Page 21
BEAVER COMMUNITY TRUST LTD IA company Ilmlted by guaranl••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 17. Stst•m•nt of funds Statèment of lunds- Current y•ar Balance at 1 S•ptomber 2022 Balance at 31 August 2023 Incom• Expenditur• UnreBtrlrt•d funds Genoral Funds 128,489 588.879 (584,7651 132,603 R•strl¢ted funds Capit81 Grant Community M881s 205,189 6,564 {1.9201 203,269 211,753 11,9201 209,833 Total of funds 340.242 588,879 {58&6851 342.436 Pago 22
BEAVER COMMUNrrY TRUST LTD (A company Ilmlt•d by guarant¢o1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARENDED 31 AUGUST 2023 17. Stat•m•nt ol funds Icontlnued) Statemont of funds - prlor yr Balance al 7 September 2021 B818n¢e al 31 August 2022 Transfers in/oul Income Exp61ndltur8 Unrestrlcted funds General Funds 153.455 554.328 (579,910) 616 128,489 Rfjstrlctod funds Capltal Grant Communty Meals Equipment 207,109 11,564 (1,920) (5.000) (634) 205.189 6,564 1,250 (616) 218.673 1,250 ri.554) f616) 211, 753 Total of funds 372.128 555.578 (587,464) 340,242 Pag8 23
BEAVER COMMUNITY TRUST LTD (A Company limltsd by guarantKI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 18. Fund do$¢rfptlons General Fund - Thls is the reserve representing the unrestricted. core funds of the Charity. Capital Grant- Thls represents a grant from Kent County Coundl lo cover the cost of extending the bullding for the nursery. This grant Is being wrttten down over its u8efiJl e¢oncffilc Ilfe. Communty Meals - This is a prolect to provid8 meals to the Ashford Community experiencing h8rd$hip. Pag6 24
BEAVER COMMUNITY TRUST LTD (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR TPIE YEAR ENDED 31 AUGUST 2023 19. Summary of funds Summary of funds- CUrrt year Balance at 1 September 2022 Balance at 31 August 2023 Income Exp•nditure Genero1 funds Restricted funds 128.489 211.753 588.879 1584,7651 11,9201 132,603 209,833 340,242 588.879 (586.685) 342,436 Summary of fund8. prfory••r Balancs al I September 2021 B81ance al 37 Atwust 2022 rransf8rs in/oul Income Expenditure General funds Reslricted funds 153.455 218,673 554.328 t,250 (579.910) (7,554) 616 (616) 128,489 211,753 372,128 555,5T8 {587,464J 340,242 Analys1¥ of net a558ts betw••n funds Anatysl8 of net assets bÈtwe•n funds - current yoar Restricted ilnr•strictgd nd$ fund$ 2023 2023 Total fvnds 2023 Tanglble fixed assets Current assets Creditots due within one y 203.269 129,206 29.205 125,808) 332.475 3S,769 (25,808) Total 209.833 132,603 342,436 Page 2S
BEAVER COMMUNrrY TRUST LTD IA company Ilmit•d by guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 20. Analys1$ of net assets b•twoon funds (contlnued) Ana1¥ of net ass•ts botween funds . prlor ygar Endowment fiinds 2022 Reslrlc(ed Unrestilcted funds fvnds 2022 2022 Total funds 2022 TangiblIXed assets Current assets Creditors due within year 330,263 31,222 (21.243) 330,263 31,222 (21,243) Total 340,242 340.242 21. P•miion Gommltment8 The group operates a defined ¢tribUtion penslon scheme. The assets oflhe scheme are held separately from those of the group in an indop8ndenlfy admlnistered fund. The pen8h)n )$1 charge represents nbUon6 Poyable by the group to the fund and amwnted lo £6.68912022 - £7.245>. 22. Members. Ilablllty Each member of the charitable company undertakes to contribute to the assels of the company in the event of it being wound up while helshe is a member. or wilhin one year after helshe ceases to be member, such amount as may be requlred, not exGeedlng £10 for the deblg and liatlItieS contracted before helshe ceases lo be a membgr. 23. Rolatod party transactlons Thère w8rg no related party transactlons in Ihe ujrrent or prior perlcd other than those disck)s8d in notè Pag8 26