REGISTERED COMPANY NUMBER: 05771984 (England and Wales) REGISTERED CHARITY NUMBER: 1122566
Report of the Trustees and
Financial Statements for the Year Ended 31st March 2022
for
Riverside Community Resource Trust
Beak Kemmenoe Chartered Accountants 1-3 Manor Road Chatham Kent ME4 6AE
Riverside Community Resource Trust
Contents of the Financial Statements for the year ended 31st March 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
Riverside Community Resource Trust
Report of the Trustees for the year ended 31st March 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity's principal objective is to provide community facilities for local organisations and groups. The charity is run by the trustees.
The charity has a business action plan in place which details the main objectives of the charity. This is then broken down further into action points and when it is anticipated these action points will be addressed. The main objectives of the charity are:
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Develop marketing of the Trust's opportunities and facilities.
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Develop the Trust's reputation through marketing opportunities.
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Develop the Trust's financial viability.
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Develop the quantum of secondary spend by Trust customers.
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Develop staff & directors to support Trust's Marketing & Financial Plans.
Public benefit
The trustees have referred to the guidance in the Charity Commission & general guidance on public benefit when reviewing their aims and objectives and in planning future activities. In particular the trustees regularly consider how planned activities will contribute to the aims and objectives that have been set.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission for England and Wales.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
This year has still presented challenges with the operation of the centre, particularly in regards to casual hire but we were delighted to be able to fully open our doors and welcome staff and users back on-site.
We were grateful for the Government furlough scheme which provided aid to our charity using it for flexi furlough purposes until the end of September in correlation with user demands. 1st October we were back to full staff strength ready to end the first post-covid year on a positive.
Mid-May we welcomed back our disability group, Riverside Active Lives Network which was not only good for us to reconnect with the group but enabled individuals of the group to regain social interaction, put an end to isolation and to resume a "normal" life routine. December they were able to hold their annual Christmas dinner and celebration which was a very special time for us all.
In August we hosted our first post-covid Summer Community Event. There was over 600 people in attendance throughout the afternoon and it was clear that the local community appreciated the opportunity to have some fun time in the sun and enjoy the activities that were made available. We relaunched our other community programmes; Nimble Fingers and in March we were able to reintroduce adult education to the community which will aid individuals in attaining accredited courses to help in employability.
The resilience of staff, trustees and users during this difficult year has been remarkable. Careful planning and ongoing expenditure scrutiny has resulted in this year's surplus result.
Page 1
Riverside Community Resource Trust
Report of the Trustees for the year ended 31st March 2022
FINANCIAL REVIEW
Financial position
During the year total income of £194,877 was received. Expenditure of £150,655 was incurred bringing in a net surplus of £44,222.
Reserves policy
The policy of the charity is to have an amount in reserves sufficient to cover at least six months of operating costs. Any funds above this amount may be reinvested into the organisation.
Going concern
Even though casual bookings for functions have increased over the latter part of the year, casual bookings from external organisations for training and meetings is still significantly lower than hoped. It is understandable that peoples work habits have changed over the last two years including the use of online platforms to meet and train but we remain optimistic that as time moves on and employees return back to the office and feel more comfortable in social settings this demand will increase.
The expediential rise in utility costs will remain a on-going concern for the trust, remaining at the forefront of our minds. This expenditure section has been reflected in the budget 2022/23 and will be analysed at the half year budget review and the latter part of the year forecasting budget.
FUTURE PLANS
Financially the trust is in a very strong position so 2022/2023 is an opportunity to carry out some much needed investment projects at the centre, particularly when it comes to plant repairs and replacements.
Relaunching community development activities will be a focus of the trust, one of the first events planned for next year is the summer community fun day which will be supported by GBC and a series of small children's activities throughout the year during school holiday periods. Riverside will be supporting charitable organisations who operate from the centre in celebrating any Queens Jubilee events they are hosting.
As utilities are a concern consideration during the coming year may be that trust reserves may have to be used to cover any utility bills.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a charitable company limited by guarantee and was set up for the provision of a community resource centre. It is governed by a memorandum and articles of association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
The power of appointing and removing trustees is vested by the members of the charity. The trustees have the power at any time to appoint any person to be a trustee either to fill a casual vacancy or as an additional trustee.
Induction and training of new trustees
New trustees are invited to the centre for the day to see how the charity operates. They are also provided with the aims and objectives of the charity along with the last set of accounts. Each trustee is provided with a booklet "how to be a good trustee" and all have to sign an indemnity form. Training for both new and existing trustees is carried out on a periodic basis.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05771984 (England and Wales)
Registered Charity number
1122566
Page 2
Riverside Community Resource Trust
Report of the Trustees for the year ended 31st March 2022
Registered office The Riverside Centre Dickens Road Gravesend Kent DA12 2JY Trustees L J Beven Mrs P Jefford Mrs S Whatmough A Ridgers Mrs C Stone D Mead Company Secretary L J Beven Independent Examiner Natalie Harrison ACA FCCA CTA TEP Beak Kemmenoe Chartered Accountants 1-3 Manor Road Chatham Kent ME4 6AE
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ L J Beven - Trustee
Page 3
Independent Examiner's Report to the Trustees of Riverside Community Resource Trust
Independent examiner's report to the trustees of Riverside Community Resource Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Natalie Harrison ACA FCCA CTA TEP Beak Kemmenoe Chartered Accountants 1-3 Manor Road Chatham Kent ME4 6AE
Date: .............................................
Page 4
Riverside Community Resource Trust
Statement of Financial Activities
for the year ended 31st March 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 21,221 Charitable activities Operational facilities at centre 173,634 Investment income 3 22 Total 194,877 EXPENDITURE ON Charitable activities Operational facilities at centre 147,724 NET INCOME/(EXPENDITURE) 47,153 RECONCILIATION OF FUNDS Total funds brought forward 89,876 TOTAL FUNDS CARRIED FORWARD 137,029 |
Restricted funds £ - - - - 2,931 (2,931) 3,847 916 |
2022 Total funds £ 21,221 173,634 22 194,877 150,655 44,222 93,723 137,945 |
2021 Total funds £ 49,146 72,575 35 121,756 139,669 (17,913) 111,636 93,723 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
Riverside Community Resource Trust
Balance Sheet 31st March 2022
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 8 7,588 CURRENT ASSETS Debtors 9 15,033 Cash at bank and in hand 117,431 132,464 CREDITORS Amounts falling due within one year 10 (3,023) NET CURRENT ASSETS 129,441 TOTAL ASSETS LESS CURRENT LIABILITIES 137,029 NET ASSETS 137,029 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 800 - 116 116 - 116 916 916 |
2022 Total funds £ 8,388 15,033 117,547 132,580 (3,023) 129,557 137,945 137,945 137,029 916 137,945 |
2021 Total funds £ 12,364 7,989 80,013 88,002 (6,643) 81,359 93,723 93,723 89,876 3,847 93,723 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
Riverside Community Resource Trust
Balance Sheet - continued 31st March 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. L J Beven - Trustee
The notes form part of these financial statements
Page 7
Riverside Community Resource Trust
Notes to the Financial Statements for the year ended 31st March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Government grants in relation to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings
- 20% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
continued...
Page 8
Riverside Community Resource Trust
Notes to the Financial Statements - continued
for the year ended 31st March 2022
2. DONATIONS AND LEGACIES
| Grants Grants received, included in the above, are as follows: Coronavirus Job Retention Scheme Gravesham Borough Council Coronavirus Grant |
2022 £ 21,221 2022 £ 11,615 9,606 21,221 |
2021 £ 49,146 |
|---|---|---|
| 2021 £ 38,953 10,193 |
||
| 49,146 |
The charity has received a grant from the government in relation to the Coronavirus Jobs Retention Scheme in order to assist in keeping staff employed during the current pandemic.
The charity also received grants from its Local Authority, Gravesham Borough Council, providing financial support during the pandemic.
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Deposit account interest | 22 | 35 |
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 6,843 | 7,457 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2022 nor for the year ended 31st March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2022 nor for the year ended 31st March 2021.
continued...
Page 9
Riverside Community Resource Trust
Notes to the Financial Statements - continued for the year ended 31st March 2022
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Charitable activities No employees received emoluments in excess of £60,000. 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 49,146 Charitable activities Operational facilities at centre 72,575 Investment income 35 Total 121,756 EXPENDITURE ON Charitable activities Operational facilities at centre 136,892 NET INCOME/(EXPENDITURE) (15,136) RECONCILIATION OF FUNDS Total funds brought forward 105,012 TOTAL FUNDS CARRIED FORWARD 89,876 |
2022 5 Restricted funds £ - - - - 2,777 (2,777) 6,624 3,847 |
2021 6 Total funds £ 49,146 72,575 35 121,756 139,669 (17,913) 111,636 93,723 |
|---|---|---|
continued...
Page 10
Riverside Community Resource Trust
Notes to the Financial Statements - continued for the year ended 31st March 2022
8. TANGIBLE FIXED ASSETS
| Other tangible fixed assets £ COST At 1st April 2021 18,254 Additions - At 31st March 2022 18,254 DEPRECIATION At 1st April 2021 15,878 Charge for year 2,376 At 31st March 2022 18,254 NET BOOK VALUE At 31st March 2022 - At 31st March 2021 2,376 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Accruals and deferred income |
Fixtures and fittings £ 61,670 2,867 64,537 51,682 4,467 56,149 8,388 9,988 2022 £ 9,732 5,301 15,033 2022 £ 195 - 2,828 3,023 |
Totals £ 79,924 2,867 |
Totals £ 79,924 2,867 |
|---|---|---|---|
| 82,791 | |||
| 67,560 6,843 |
|||
| 74,403 | |||
| 8,388 | |||
| 12,364 | |||
| 2021 £ 3,486 4,503 |
|||
| 7,989 | |||
| 2021 £ 1,952 558 4,133 |
|||
| 6,643 |
continued...
Page 11
Riverside Community Resource Trust
Notes to the Financial Statements - continued
for the year ended 31st March 2022
11. MOVEMENT IN FUNDS
| At 1.4.21 £ Unrestricted funds General fund 89,816 Designated - Community Development 60 89,876 Restricted funds Tesco Play Equipment 2,492 Tesco Funding 62 GBC Summer Activity Funding 93 KCC Kitchen Funding 1,200 3,847 TOTAL FUNDS 93,723 Net movement in funds, included in the above are as follows: Unrestricted funds General fund Designated - Community Development Restricted funds Tesco Play Equipment Tesco Funding GBC Summer Activity Funding KCC Kitchen Funding TOTAL FUNDS |
Net movement in funds £ 48,959 (1,806) 47,153 (2,376) (62) (93) (400) (2,931) 44,222 Incoming resources £ 194,877 - 194,877 - - - - - 194,877 |
Transfers between At funds 31.3.22 £ £ (4,000) 134,775 4,000 2,254 - 137,029 - 116 - - - - - 800 - 916 - 137,945 Resources Movement expended in funds £ £ (145,918) 48,959 (1,806) (1,806) (147,724) 47,153 (2,376) (2,376) (62) (62) (93) (93) (400) (400) (2,931) (2,931) (150,655) 44,222 |
|---|---|---|
continued...
Page 12
Riverside Community Resource Trust
Notes to the Financial Statements - continued for the year ended 31st March 2022
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Designated - Community Development Restricted funds Tesco Play Equipment Tesco Funding GBC Summer Activity Funding KCC Kitchen Funding TOTAL FUNDS |
At 1.4.20 £ 104,952 60 105,012 4,869 62 93 1,600 6,624 111,636 |
Net movement in funds £ (15,136) - (15,136) (2,377) - - (400) (2,777) (17,913) |
At 31.3.21 £ 89,816 60 |
|---|---|---|---|
| 89,876 2,492 62 93 1,200 |
|||
| 3,847 | |||
| 93,723 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Tesco Play Equipment KCC Kitchen Funding TOTAL FUNDS |
Incoming resources £ 121,756 - - - 121,756 |
Resources Movement expended in funds £ £ (136,892) (15,136) (2,377) (2,377) (400) (400) (2,777) (2,777) (139,669) (17,913) |
Resources Movement expended in funds £ £ (136,892) (15,136) (2,377) (2,377) (400) (400) (2,777) (2,777) (139,669) (17,913) |
|---|---|---|---|
| (2,777) | |||
| (17,913) |
continued...
Page 13
Riverside Community Resource Trust
Notes to the Financial Statements - continued for the year ended 31st March 2022
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1.4.20 | in funds | funds | 31.3.22 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 104,952 | 33,823 | (4,000) | 134,775 |
| Designated - Community Development | 60 | (1,806) | 4,000 | 2,254 |
| 105,012 | 32,017 | - | 137,029 | |
| Restricted funds | ||||
| Tesco Play Equipment | 4,869 | (4,753) | - | 116 |
| Tesco Funding | 62 | (62) | - | - |
| GBC Summer Activity Funding | 93 | (93) | - | - |
| KCC Kitchen Funding | 1,600 | (800) | - | 800 |
| 6,624 | (5,708) | - | 916 | |
| TOTAL FUNDS | 111,636 | 26,309 | - | 137,945 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated - Community Development Restricted funds Tesco Play Equipment Tesco Funding GBC Summer Activity Funding KCC Kitchen Funding TOTAL FUNDS |
Incoming resources £ 316,633 - 316,633 - - - - - 316,633 |
Resources Movement expended in funds £ £ (282,810) 33,823 (1,806) (1,806) (284,616) 32,017 (4,753) (4,753) (62) (62) (93) (93) (800) (800) (5,708) (5,708) (290,324) 26,309 |
Resources Movement expended in funds £ £ (282,810) 33,823 (1,806) (1,806) (284,616) 32,017 (4,753) (4,753) (62) (62) (93) (93) (800) (800) (5,708) (5,708) (290,324) 26,309 |
|---|---|---|---|
| 32,017 (4,753) (62) (93) (800) |
|||
| (5,708) | |||
| 26,309 |
continued...
Page 14
Riverside Community Resource Trust
Notes to the Financial Statements - continued for the year ended 31st March 2022
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2022.
Page 15
Riverside Community Resource Trust
Detailed Statement of Financial Activities
for the year ended 31st March 2022
| Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS Donations and legacies Grants 21,221 - Investment income Deposit account interest 22 - Charitable activities Catering Income 14,858 - Room Hire 156,591 - Other Income 2,185 - 173,634 - Total incoming resources 194,877 - EXPENDITURE Charitable activities Wages 88,189 - Social security 2,818 - Pensions 1,781 - Rates and water 6,233 - Insurance 942 - Light and heat 14,074 - Telephone 2,618 - Postage and stationery 328 - Advertising 20 - Sundries - - Repairs & Maintenance 12,029 62 Bank charges 157 - Cleaning 930 - Refuse 1,694 - Uniform 224 - Community development 1,713 93 Catering costs 8,024 - Staff training 268 - Plant and machinery - 2,376 Fixtures and fittings 4,067 400 146,109 2,931 |
2022 Total funds £ 21,221 22 14,858 156,591 2,185 173,634 194,877 88,189 2,818 1,781 6,233 942 14,074 2,618 328 20 - 12,091 157 930 1,694 224 1,806 8,024 268 2,376 4,467 149,040 |
2021 Total funds £ 49,146 35 451 70,581 1,543 |
|---|---|---|
| 72,575 | ||
| 121,756 97,007 2,360 1,517 3,972 925 10,433 2,567 451 154 633 8,308 69 437 1,417 - - 203 168 2,377 5,080 |
||
| 138,078 |
Support costs
This page does not form part of the statutory financial statements
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Riverside Community Resource Trust
Detailed Statement of Financial Activities for the year ended 31st March 2022
| Unrestricted Restricted funds funds £ £ Support costs Management Sundries 13 - Accountancy fees 750 - 763 - Governance costs Independent examiners' fees 852 - Total resources expended 147,724 2,931 Net (expenditure)/income 47,153 (2,931) |
2022 Total funds £ 13 750 763 852 150,655 44,222 |
2021 Total funds £ 13 738 751 840 139,669 (17,913) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 17