Reglstered number 04603405 Charity number: 1122036 BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
BEAVER COMMUNITY TRUST LTD (A company lirnit•d by guarante8) CONTENTS Page Reference and administrative details of the company, its Trusteès and advisers Trustegs. report Independent examIneS report Statement of financial actlvltles Balance sheet 10 Notes to the flnanclal statements 11-25
BEAVER COMMUNITY TRUST LTD IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Trustses Rav J Newson, Chair Mr S Cavrte. Trustee Company registered number 04603405 Charity registered number 1122036 Regtstered office The Willow Centre Brookfield Road Ashford Kent TN23 4EY Company secretary Mrs Shela M Tong Accountants Magee Garnmon CorpcK* Limrted Chartered Accountants HenY0d House Ashford Kent TN24 8DH Bankers Barclays Bank 17 North Street Ashford Kent TN24 8LF Page 1
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Twstees present their annual report together with the financial statements of the company for the year 1 September 2023 to 31 August 2024. The Annual Report serves the purposes of both a Trustees. Report and a Directors, Report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable CoMpanS governing document and the provisions of the Statement of R8commended Practice ISORP) applicable to charities preparing their accounts in accordance wtih the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102} (effective 1 January 2019). Since thé Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2008 (Strategic Report and Directors. Report) Regulations 2013 has been omitted. Objective5 and activities . Pollcles and objectlves Charltabl• Objoctiv• o enhance the development and education of children under statutory school age by encouTrging parents to Undetand and provid8 for th8 n88ds of their children through community groups and r8gist8r8d s8ttings. To support the wellbeing of our l¢xal families and th8ir children by promoling healthy lrfestyle easing poverty and hunger through fvndedprovisions such as providing meals and hygiene products." Beneflts The benefts to children. families arKI comrnunty include: Making nutritional meals available to the children through the Nursery Provision; Through this provision edurating and encouraging parents lo und8rstand the importance of nutritional rneals: Providing a safe. inexpensive. nutrrtional and encouraging communtty café for parents and children lo sit and eat together. A charitable and varied communty vision; The benefrt of partnership wtth Kent County thncil Children's C8ntres and others to h81p sustsin the Msion; Providing volunteering opportunities to local people.. Provide loGal employment cpportunities within a communty with the hhest levels of unemployment within the LoGal Authorlty area. Future Trust activtties might inde. To work alongside Children Centres and Iheir partners delivering the Healthy Lrfestyles agenda,. To promote social responsibility among children, parents and young people,. To provide advice and practical training in childcare to dy5nCtiOnal families: To provide help and advice to persons in relation to debt and personal financial management and similar matters; To help relieve persons who are in conditions of need or hardship. To encourage or stimulate emplonent opportunrties amongst family members: To promote recreational facilities for young people. Page 2
BEAVER COMMUNITY TRUST LTD (A company limited by guarnnteel TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Achievements and performance a. Review of activities The main objectives for the year continued to focus on the development and promotion of the Trusfs full day care nursery and communty café. The strategies employed by the Trust to meet these objectwes included the following: Provide affordable high-quality earty years childcare from 7.30- 6pm fNe days a week and a minimum of 50 weeks a year, to a community with high levels of deprivation and povety, Support the Govemment in"rtiatives of 'Wrap Around Education,, 'Every Child Matters. and 'Exiended Schools, by widening and enhancing the service provision to the wider communty., Continue to develop Servi provision in partnership with Sure Start and in line with the Children's Centre policy., Working in partnership wilh other agencies and services including Education, Ashfi)rd Borough Council, Kent County Council and Far8Share. to 8nsur8 the best seNices are available to help u5 achieve our objectives and match the needs of the client population of the communty: Provide a highquality Community Café provision at the Children's Centres from 8am- 3'.30pm five days a week, 50 weeks a year. Employ apprentices within the nUery. Provide volunteering opportunities to local people that may have been out of work for a p8riod yth a view to gaining the confidence to be able to consider employment or further education and vulnerable adults. The cuent principle acttvities of the TnJst are to deliver earty years education and help support tho well being of children and families in the communty. We achieve this through two service provisions. b. Nup38ry Kiddie Kapers Neighbouthood Nursery is based in the Twst building, The Willow Centre. It is Ofsted Registered EY295433 {Status.' Good) for 93 full day care children's places for children aged Irom 3 months to 5 years. It currently provides a number of sessions which means that there are over 160 families registered to us& the nursery and in excess of 170 different children using the nursery each week. This by far exceeds the government requiremenls for this size projecL The nursery continues to be the Trusys principle fund generator and we currenty support a nursery team of 32 personnel which includes 2 appr8ntiC85. We also have some volunteer supporL The nursery participates in offering the Department of EducatM)n education places for hvo year-olds (free for 2) on a set criterion to be met by the families. These places could be offered as fjJ114ime feeaYIng places but are reserved for lovbincome familie5 as part of the charitabte elS of Beaver Communty Trust. The Nursery headlines for this year indude: Nurse The Nursery has operated as fully open throughout the ye. Following an Otsted visit the dring 2023 Nursery was placed into special measures with a reduced grading. This action amongst other things enabled the Nursery to receiv8 weekly fr88 specialist support from the Education People with a view to achieving a Good status. Following a lengthy period of retraining. changes in staff and renewed staff commitmenl the Nursery regained its Good status from Ofsted in December 2023. sin then. the Nursery has gone from strength to strength and hopefuly at last has put the ongoing impact of Covid behind tt once and for all. staff training has continued. Page 3
BEAVER COMMUNITY TRUST LTD IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Achievements and perfomiance (continued) c. Café Th8 Cafe headlines for this year have been split into Iwo seclions: ht Bites Communi Cafe The Board conlinues to support our Light Bite5 Community Café. Although the Gafé faces limiiation due to its location within children's centre in an area of high deprivation, its staff continues to take full responsibility for their provi5ton. The café puts a vital provision at the heart of the community providing many essential benefits to all users and the local neighbourhood. The beneffts the café provides include,. providing nutrttious meals to the children attending Kiddie Kapet5 Nursery and to families experiencing financial hardship throughoLrt the school holiday period, provid8 a safe and welcoming v8nu8 to the community ensuring that we are fully inclusive: share any surplus food wth local tharities and families in need: provide a safe environment for vulnerable volunteers. signpost café users to other servtces provided within the centre. This support is rewwd enough for the hard vmrk needed to maintain such provisions to the very highest standards. This has also been appreciated by the Lcd Authority Environméntal H8alth Department who through their catering 'S¢ores on the Doors, awarded lop score of fNe stars to our Café. A great achievement for all the staff and volunteers involved. The café operates wrth a team of contracAed staff and two casual employees. The café offers volunteering experiences to local people which has enabled them take on paid employment. use theiT volunteering experience to undertake adult education courses and, most importantly. feel part of the communty. Fareshare Outreach SeNi The Café continues to operate a Fareshare Outreath SeNice for families along with other provisions for free or at a small charge. The resulting public benefft provided by the café is judged, by the board. to be extreme valuable in providing employment, volunteering. and afftjrdable healthy food for a diverse range of service users including young children. Through offering a safe plaTr to corne to. very reasonable heahY food choi5 and the opportunity for families to 98t around the table and enjoy a meal together. which is less likely to happen at home. these benefits to such a challenged community remain difficult to quantify bui dearfy are invaluable in 5UPPOrting the wellbeing, health and development of Chdren and parents in our communty. Flnanclal revlew . Golng concem During this period the Trustees had a reasonable expectation and confidence that the Trust has adequate resources to continue in operational existence for the foreseeable fLrture. For this reason. we continue to adopt the going concem basis in preparing the financial ststements. Further details regarding the adoption of the going concem basis can be found in the Accounting Pclicies. b. Reserves policy Beaver Community Trust seeks to maintain general reserves which is equivalenl to three months running costs, currently estimated at £110.000. The company maintsins a tight control over outgoing resources and the value of the reserves required is reconsidered annually. Page 4
BEAVER COMMUNITY TRUST LTD IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 c. Financial rlsk management objectives and policies Overall the financial performan of Beaver Communty Trust Ltd saw a surplus in the year of £8,471 compared to last yearfs surplus of £2.194. During the year the charity had three major streams of incoming resources from charrtable activities. The sources of tha income were from the nursery, café and Sure Start Ashford contribution. KKldie Kapers has shown a surplus in the amounting lo £78.9K (2023: surplus of £55.4K). The increase in performanc8 is due to an overall increase in fees for the year. The government funding accounted for £376.5K {69.1'/0) which is an increase of £67.5K (£309.OK (60.70A} in 2023). Private fees decreased from £200.4K (39.3¢/0) in 2023 to £168.5K {30.9%}. The governance costs have been recognised as an indirecl cost of the nursery. In addition to the above. govemance costs have decreased slightty from £56.OK in 2023 to £54.4K this year. The café has seen a decrease in tumover in the year to £34.5K from £45.8K in 2023. The respective running costs have increased slighdy to £55.9K in comparison to £515K in 2023. resulting in café increasing its operating deficit from £6.SK to £21.4K in the year. This year has seen a Continuan of the contributs'on towards premises costs from Sure Start Ashford, amounting to £21.OK {2023: £24.2K). This cOntriblon is fulty expended against the running costs of the buildin9. The balance of restTiCted funds carried forward at 31 August 2024 is £201,349 (2023: £209,833). The balan of unrestricted funds carried fopNard at 31 August 2024 is £149.558 (2023: £132.603). Structuretr governance and management a. Constitution Beaver Communty Trust (BCT) is a conyany limked by guarantee and was incorporated on 28th November 2002. The Trusl was granted Charitable Status in December 2007 (1122036). The company was established under a memorandum which established the objects and powers of a charitable company designate and is govemed under ils Articles of Association, In the event of the company being wound up members are required to contiibute an amount not exceeding £10. b. Principal activities, recruitmont and appoinlment of Trustees The trustees of the company are known as members of'The Board. and meet at the Trusvs headquarters known as The Willow Centre. Under the company Article5 one third of the members retire at the Annual General Meeting but rf willing to aci, can be re-appointed rf that vacancy is not filled by the Board. The Trust's two Current principal activibes are: To run a 9lace full day care nursery known as Kiddie Kapers. This means that the Trust invariably focuses its attention on the communty it serves with a special emphasis on families with early years children (3 month5 - 5 yrs} To run a wmmunity cafe under the trading n8rne Light Bite& This means being able to provide a number of community seNc8s especially hot nutiitional meals to children within Kiddie Kapers nursery at The Willow Centre The Board aayS seeks to ensure the needs of the communty and clients are appropriately reflected through th8 diversty of the trustee body. The Board regularly reviews its representation of these areas and individual skills base. IndNiduals are then recruited or approached to offer themselves for election to The Board vthere appropriate. Page 5
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Plans for future perlods During this period the Charity continued to seek out appropriate funding avenues to maintain and develop its services. This was ever more challenging in the current general economic climate and competition for funds is vigorous. The Chanty continuousty strived to make the organisation more efficient at every level and to keep running costs to their minimum. Our goals for the 2023r2024 year included: With Ihe Ofsted downgraded status we were unable to take on any new funded children unlil our Good status was regained in December 2023. Despite regaining Good stalus this had a knock on effect with regards to income which will not recover until JanlApr 2025 KCC funding continued albeit with some uncertainty about amounts and timing. This uncertainty of funding flow did cause the Board to work hard to ensure sufficient cash funds were in place each month to pay salaries. However. the year once again proved to be far rnore challenging than expected. It is a credit to the Trust Business Manager and the Board Ihat closure was avoided and as a result 2024125 is looking far more encouraging. The first round of Conservative Government changes to the rate of funding per child per hour was very welcome and ease the challenges but dKI not eliminate them. We await to see rf the Labour Govemmenl will implement the second round of funding In this area. The Board continues to work hard to look to replace the sustainabilty funds used but. lik8 most Charities. is finding rt ever more difficult to attract funding support in this area. Concluslon The Trust has On again pefftimied well in this year despite the Challenges of funding. 0ft5ed and staffing. That said thè Trust has maintained its excellent reputation within the community. ensuring its service delivery is of the highest standard. The Trust is seen by the community as a pla to come for help when they are in trouble and we seek lo continue lo help our communty wi this way whenever and howevèr we can. The Board is reviewing rts Trustee struclure and Governance procedures in line with the Charity Commissioners current guÉdance and is currently appoirrting a new Trustee. The Board has over some years been unable to attract new Trustees who are competent and passionate about Early Years. As a result, the Board has r8cognised that its current trustees are all of senior age and as such seek to retire in due course. The outcome of this has been that the Board has started to nvestigate the option5 available to secure and sustain the future of the Trust and the Nursery. The Board is currently in contact with a much larger Charity who delivers early years nursery and family support on a national basis to explore the options of a merger. The Trusts cornmitrnent to providing a high standard of care and education within the nursery is as strong rf not stronger than ever. We anticipated that children's numbers would grow slowly post pandemic bul have seen this eSGalate this year and we anticipate that in earfy 2025 the Nursery will be fvll and having to operating a waiting list. The Nursery has a bright and provtd8nt fulure. Th8 profitabilty of the business and beneffts to th8 community remain high on the Boards agenda. Despite a small funding increase this year. the Early Years sector has in the Trusls opinion been seTiously underfunded for many years, and until that thanges the Board must accept that an Eaty Years Provision. èspecially one in the Charitable Sector, is afvays as risL That said, despite all the ongoing challenges the Trust continue5 to try to achieve the very highest standards expected of us by our users and the Charity Commissioners. Page 6
BEAVER COMMUNITY TRUST LTD (A company limited by guaranteel TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Statement of Trustees, responsibilities The Trustees (who are a150 the directors of the company for the purposes of company law) are responsible for preparing the Trustees, report and the financial statement5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generalty ACpted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of ts incoming resources and application of rèsources, including its income and expenditure, for that period. In prepwing these financial stslements. the Trustees are required to.. select suitable accounting policies and then apply them consistenty, observe the methods and principles of the Charities SORP (FRS 102}" make judgments and accounting estimates that a reasonable and prudent. state whether applicable UK Accounting StarKlards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concem basis unl8SS it is inappropriate to presume that the company will continue in busess. The Trustees are responsble for keeping adequate accounting records that are sufficient to show and explain the companrfs transactions and disdose with reasonable accuracy at any time the financial position of the mpany 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies. Approved by order of the members of the board of Ttuslees and signed on their behaff by. J Newson air of Trustees) Date.. 3 April 2025 Page 7
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) INDEPENDEMf EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Independent examlnerfs report to the Trustees of Beaver Communrty Trust Ltd {Ihe company. I report to the charity Trustees on my examination of the account5 of Ihe company for the year ended 31 August 2024. Responsibilities and basi5 of report As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of Ihe accounts in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audit8d under Part 16 of the 2006 Act and are eligible for independent examinalion, I report in respect of my examination of the ¢ompanVs accounts carried out under seclion 145 of the Charities Act 2011 (Ihe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charty Commission urKler section 145(5)(b) of the 2011 Act. Independent examinerfs statement Since th8 companrfs gross income exceeded £250.000 your examiner must be a member of a body list8d in section 145 of the 2011 Ad. I confinn that l am qualified to underta(e the examination because l am a member of ICAEW, vthiGh is one of the listed bodies. I have completed my examination. I confim that no matters have come to my attention in connection with the examination giwng rne cause to believe.. accounting records were not kept tn respect of the wnpany as required by section 386 of the 2006 Act; or th8 accounts do not accord with those records. or the accounts do not compty with the accounting requirements of section 396 of th8 2006 Act other than any requirement that the accounts give a 'true and fai¢ 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 Stat8ment of Recommended Practi 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 Goncems 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. This report is made solety to the companys Trustees. as a body. in accordan with Part 4 of the Charities (Accounts and Reports} Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters l am required lo state to Ihem in an Independent examinerfs report and for no other purpose. To the fullest exient pennitted by law, I do not accept or assume responsibilty to anyone other than the company and the companls Trustees as a body, for my work or for this report. Signed: Antony Tutt FCA Mag88 Gammon Corpo Chartered Accountants Henwood House Ashford Kent TN24 8DH Dated: 3 Aptil 2025 Limited Page 8
BEAVER COMMUNITY TRUST LTD {A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVTfiES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2024 Restrlcted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitablè 8divities other trading activities Invesknents 2.450 546,466 56,458 515 2,450 546,466 56,458 515 2.871 515,627 70,023 358 Total income 60S,889 605.889 588,879 Expenditure on= Charitable activities 1,920 59S,498 597,418 586.685 Total expenditure 1.920 595.498 597N18 586.685 Net (expenditure}lincome Ttansf8rs b8tW8en funds {1.920) 16.564) 10.391 6.564 8A71 2. 194 16 NÈt movemÈnt In funds {8A84) 16.955 .471 2,194 Raconciliation of funds: Total funds brought forward Net movement in funds 209.833 (8,484) 132,603 16.955 342,436 8.471 340,242 2, 194 Total funds carrled forwa 201.349 149.558 350.907 342,436 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 11 to 25 fonn part of th&%e financial statemenls. Page g
BEAVER COMMUNITh TRUST LTD (A company limited by guarantee} REGISTERED NUMBER: I)4603405 BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Note Fixed assets Tangible assets Current assets 329,802 332,475 Stocks Debtors Cash at bank and in hand 12 13 1.220 20.081 14.350 1.257 19,709 14,803 35,651 35. 769 Creditots: amounts fallng due within one year 14 (14,546) (25,808) Net current assets 21.105 9,961 Total assets less current liabilities 350,907 342,436 Total net assets 350,907 342,436 Charlty funds Restrtcted funds Unrestricted funds 16 16 201.349 149,558 209,833 132. 603 Total funds 350,907 342.436 The company was entitled to exerytion from audit under sedion 4TT of Ihe Companies Act 2006. The members have not required the company to obtain an a11 for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for comptying with the requirements of the Act with respect to accounting records and preparalion of financial slatements. The financial statements have bn prepared in )rdance with the provisions applicable to entities subject to the small companies regime. The InanGial statements were approved and aulhorised for issue by the Trustees and signed on their bèhalf by. ewson (Trustée} Date14 April 2025 The notes on pages 11 to 25 fomi part of these financial statements. Page 10
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 General information Beaver Communty Trust Limited is a prtvate company. limited by guarantee. incorporated in England and Wales. The company registration number is 04603405. The registered office address is The Willow Centre. Brookfield Road. Ashford, Kent, TN23 4EY. Accounting pollcles 2.1 Basis of preparation of financial slatements The financial statemenls have been prepared in accordan with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Ststemenl of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Iretand {FRS 102) {effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 21X)6. Beaver Communty Trust Ltd meets the definition of a public benefft entty under FRS 102. Assets and liabilities are initialty recognised at historical cost or transaction value unless otherwise stated in the relevant accounting po&cy. 2.2 Income All income is recognised once the CopanY has enliilement lo the income. it is probable that the income will be receNed and the amount of income receivable can b8 m8asured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but nol expended during the period is shown in the relevant fvnds on the Balance sheet. Where income is received in advan of enttuement of receipt, its recognition is deferred and included in creditors as deferred ncome. Where entitlement occurs before income is receNed. the income is accrued. Income tax recoverable in relation to investrnent Income is recogni5ed at Ihe time the investment income is re1vable. 2.3 Expenditure Expenditu is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economiG benefits wll be required in Eettlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activtty are made up of the lotal of direct cost5 and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single aciivty are allocated directly to that actrvty. Shared costs which conlribute to more than one activty and support costs which are not attributsble to a single adivity are apportioned ben those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time sp8nt. and depreciation charges atlocated on the portion of the assefs use. Expenditure on char"*able activities is incurred on directly undertaking the activities which further the companls objectives. as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 11
BEAVER COMMUNITY TRUST LTD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (continued) 2.4 Interest rec8ivabl• Interest on funds held on deposit is included vthen receivable and the amount can be measured reliably by the company, Ihis 15 notrnally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Tanglble flxed assets and depreciation Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured rdiably. Tangible fixed assets are inib'ally recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impaimient losses. All wsts incurred to bring a tsngible fixed asset into its int8nded working condition should be included in the measurement of cosL Depreciation is charged so as to allocate the cost of kngible ed assets less their residual value over their estimated usefvl INes. as below. Depreciation is provided on the following bases: Leasehold improvements Fixtures and ffttings offi equipment Nursery equipment - Over the term of the lease 25Yo reducing balance 25°A reducing balance 25¥ts reducing balance 2.6 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowan for obsolet8 and slow-moving strjcks. Cost IludeS au direct costs and an appropriate prcportion of fixed and variable overheads. 2.7 DebtorJ Trade and other d8btors are recognised at the settlement amount after any trad8 discount offered. Prepayments are valuèa at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-teTrn highty liquid investrnents with a short maturity of three months or less from the date of acquisition cr opening of the depostt or similar account. 2.9 Liabilities and provisions Liabilities are recognised wh8n there is an obligation at th8 Balanc8 sheet date as a resuft of a past event. it is probable that a tfansfer of economic benefft will be required in settlement. and the amount of the settlement can be estimated reliabty. Liabilities are recognised at Ihe amount that the ccrtnpany anlicipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or seNices it must provide. Provisions are measured at the best estimate of the amounls required lo settle the obligation. Where the effect of the time value of money is mat8rial. the provision is based on the present value cf those amounts. discounted at the pre4ax discount rate that refiects the risks spectfic to the liability. The unwinding of the discount is recognised in the Statemenl of financial activities as a finance G05t. Page 12
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARENDED 31 AUGUST 2024 Accountlng policies (continued> 2.10 Financial instruments The company only has financial assets and financial liabiltiies of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Pensions The conTrany operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of Ihe year. 2.12 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in rtherance of the genera objeclives of the company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim use of each designated fund 15 sel out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restriction5 imp03ed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the spectfic fund. The aim and use of each restricted fund is set out in the Mtes to the financial statements. Investment irrK•me. gains and losses are allocated to the appropriate fund. Page 13
BEAVER COMMUNITY TRUST LTD (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from donations and legacies Unrestrlcted funds 2024 Total funds 2024 Total fvnds 2023 Donations Grants 1,700 750 1,700 750 2,871 2,450 2A50 2,877 Income from Charhable activities Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Fees received 546,466 546N66 515.627 Page 14
BEAVER COMMUNITY TRUST LTD (A company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Investment Income Unrestricted fund5 2024 Total funds 2024 Total funds 2023 Bank interest 515 515 358 Anatysis of expenditure on charitable actlvities Summary by fund type Restrlded Unrestrlcted funds funds 2024 2024 Total 2024 Total 2023 Cost of operating nursery Cost of operating buildirvJ Costs of operating café 1.920 518.587 20.979 55,932 520.507 20,979 55,932 509,965 24.240 52,480 1,920 595,498 597.418 586,685 Total 2023 1,920 584, 765 586,685 Analys55 of expenditur8 by activities undertaken GovemanGe directly costs 2024 2024 Total funds 2024 Total fvnds 2023 Cost of operating nursery Cost of operating building Costs of operating café 466.109 20.979 55,932 54,398 520.507 20,979 55,932 509.965 24,240 52.480 543,020 54,398 597,418 586, 685 Total 2023 530,695 55,990 586, 685 Page 15
BEAVER COMMUNITY TRUST LTD (A company limited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARENDED 31 AUGUST 2024 Analysis of expenditure by activities (continued) Anatysis of direct costs Cost of operating nursery 2024 Cost of operating building 2024 Costs of operating café 2024 Total funds 2024 Total fvnds 2023 staff costs Depreciation Provisions R8sources Premises expenses Training and recruitment Printing, postage and stationery Repairs and maintenance Cleaning Travel and entertainment Food Professional fees Staff unrfonn Mafketing Bank charges 402,568 37,363 $47 439,931 547 388 4,065 31.550 9,165 23 8,636 25A45 47 17.096 407.087 558 269 22,170 38.312 8,631 388 4.(E5 10.571 8.465 20.979 700 23 168 8.468 25,445 47 7.435 22,282 2,038 17,375 70 17,096 1,144 2,093 2.855 35 1,179 2,093 2,855 416 1.514 2.538 466.109 20.979 55.932 543.020 530, 695 Total 2023 453.975 24,240 52,480 530, 695 Page 16
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expenditure by activities (Gontinued) Analysls of support costs Cost of operating nursery 2024 Total funds 2024 Total funds 2023 staff costs Cleaning and waste servins Independent examiners, fee 43.249 7.791 3,358 43,249 7,791 3,358 43.926 8.946 3.178 54,398 54,398 55.990 Independent examin8trs remuneration 2024 2023 Fee5 payable to the companls independent examiner for the independent examination of the campanrfs annual accounts Fees payable to th8 companvs independent examiner in respect of: All other services not included above 3.133 2,893 225 225 Page 17
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Staff costs 2024 2023 Wages and salaries Social 5ecurty costs Contribution to defined crmlribution pension schemes 451.881 23,750 7,549 424, 655 19, 668 6, 690 483,180 451.013 The average number of persons employed by the company during the year was as follows.. 2024 No. 2023 No. Administration Nursery Cafe 23 24 29 30 No employee receNed remuneration amounting to more than £60.000 in either year. 10. Trustees. remunerntion and oxponses During the year. no Trustees received any remuneration OT Other b8neftts (2023- £NJL). During the year Trustees received reimbursement of expenses amounting to £NIL {2023 - £NIL). The reimbursement of expenses represenled slationery and travel costs sufferéd in the Course of Charitable activities. Page 18
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 11. Tangible fixed assets Leasehold improvemen Fixtures and fittings Office equipment Nursery equipment Total Cost or valuation At 1 September 2023 Additions 339.848 612 39.796 20.215 81.992 4,499 481,851 5,665 At 31 August 2024 340,460 40,350 20.215 86.491 487.516 Depreclatlon At 1 September 2023 Charge for the year 27,703 2.773 37,063 775 18,492 431 66,118 4.359 149,376 8,338 At 31 August 2024 30N76 37,838 18.923 70,477 157,714 Net book value At 31 August 2024 309,984 2.512 1.292 16.014 329,802 At 31 August 2023 312. 145 2. 733 1. 723 15.874 332.475 12. StoGks 2024 2023 Café goods 1,220 1,257 13. Debtors 2024 2023 Trade debtors Ppanents and accrued income 16,694 3,387 15,421 4,288 20.081 79,709 Pag8 19
BEAVER COMMUNITY TRUST LTD (A company Ilmlted by guarantee) NOTES TO THE ANANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 14. Creditors: Amounts falling due within one y8ar 2024 2023 Trade creditors Olher tsxation and social security Olher creditors Accruals and defeed income 1.660 5,557 5.395 4,417 10,439 4.045 8,841 14,546 25.808 2024 2023 Deferred income at 1 Septemb8r 2023 Resources deferred during the year Amounts released from previous periods 7.771 120 11.998) 4, S76 3.325 (230) 5,893 7,771 The deferred incotne consists of £1.415 for monies received for childcare services not yet provided (2023 - £3,413) and £4.478 for rates recharged in advance (2023- £4,358). 15. Financial instruments 2024 2023 Financial assets Financial assets measured at fair value through income and expendtture Financial assets measured at amortised cost 14,350 15A21 14, 803 t2,905 29.771 27, 708 2024 2023 Financial liabilities Financial liabilities measured at amortised cost 9.974 14,138 Financial assets measured at far value through income and expenditure comprise bank and cash balances. Financial assets that are debt instwments measured at amortised cost comprise debtors. Financial liabilities measured at amortised cost comprise Greditot5 and other creditors. Page 20
BEAVER COMMUNifi TRUST LTD (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 16. Statement of funds Statement of funds - current year Balance at I September 2023 Balance at 31 August 2024 Transfers injout Income Expenditure Unrestrlcted funds General Funds 132.603 605.889 (595.498) 6.564 149,558 Restrl¢ted funds Capital Grant Community Meals 203,269 (1,920) 201,349 16,5641 209.833 {1.920) (6,564) 201,349 Total of funds 342.436 605A89 (597N18) 350,907 Page 21
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 16. Statement of funds (¢ontlnued) Statement of funds - prior year Balance at I September 2022 Balan al 31 August 2023 Income Expendifure Unrestricted funds General Funds 128,489 588,879 (584, 765) 132,603 Restrlcted fvnds Capital Grant Community Meals 204 189 (1,920) 203.269 6.564 211.753 (1,920) 209,833 Total of funds 340,242 588, 879 (586, 685) 342,436 Page 22
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17. Fund descriptions General Fund- This is the reserve representing the unrestricted, core funds of the Charity. Captial Grant- This represents a grant from Kent County Council to cover the cost of extending the building for the nursery. This grant is being written down over its useful economic life. Communty Meals - This is a project to provide meals to the Ashford Communty experiencing hardship. The transfer in the year represents a a reimbursment of Costs suffered by the 9eneral fund in respect to th8 running of the projecL Page 23
BEAVER COMMUNITY TRUST LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIJGUST 2024 18. Summary of funds Summary of fvnds- current year Balance at 1 September 2023 Balance at 31 August 2024 Transfers inlout Income Expenditure General filnds Restricted funds 132,603 209,833 605.889 (595,4981 11.920 6.564 (6,564) 149,558 201,349 342.436 605,889 (597,418) 350,907 Summary of funds - prlor year Balance at f September 2022 Balance at 31 August 2023 Income Expenditure General funds Restricted funds 128.489 211,753 588,879 (584, 765) (1, 920) 732.603 209,833 340,242 588, 879 (586, 685) 342,436 19. Anatysis of net assets between funds Analysis of net assets between funds - current period Restslcted Unrestrlded funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due wrthin one year 201.349 128.453 35.651 (14,546) 329.802 35,651 (14.546) Total 201,349 149,558 350,907 Page 24
BEAVER COMMUNITY TRUST LTD IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 19. Analysls of net assets between funds (continued) Analysis of net assets between funds - prfor period Rgstricted UnStrict8d lunds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 203. 269 6.564 129, 206 29, 205 (25, 808) 332.475 35. 769 (25,808) Total 209, 833 132, 603 342.436 20. Pension commitments The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independenty administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted lo £7,549 (2023- £6,689). 21. Members. liability Each member of the charitable company undertakes lo contribute to the assets of the company in the event of it being wound up while helshe is a member. or within one year after helshe ceases to be a member, such amount as may be required. not exceeding £10 for the debts and liabilrties contracted before helshe ceases to b8 a m8mber. 22. Related party trdnsactions There were r related party trSaCtIOnS in the current or prv)r period olher than those disclosed in note Page 25