REGISTERED COMPANY NUMBER: 05771984 (England and Wales) REGISTERED CHARITY NUMBER: 1122566
Report of the Trustees and
Financial Statements for the Year Ended 31st March 2024
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 2024
| 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 2024
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 2024. 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 been successful in relation to SLA use and casual room hire has increased on the previous year. We deliver a well-loved community centre that results in repeat business particularly from other local charities.
Riverside luckily received a grant from CAF, this was applied for to develop the garden area. We have been working closely with the local college on various projects within the centre, this includes refurbishment works in the garden. This will be an on-going working partnership.
Adult education courses have continued throughout the year. These courses will aid individuals in attaining accredited courses and help with employability.
All staff at Riverside have worked very hard in maximising income opportunities and cutting expenditure without affecting business operation or service delivery. Comparing to the previous year we succeeded in this with the huge improvement on business performance.
Riverside is very fortunate to have a dedicated board of Trustees who volunteer their time to monitor the performance of Riverside and help plan for the future. During the year, two long standing Trustees retired, Shirley Whatmough and Alan Ridgers we are all very grateful for their long service and commitment to Riverside. Riverside are actively searching for individuals to join our Board of Trustees.
FINANCIAL REVIEW
Financial position
During the year total income of £153,865 was received. Expenditure of £168,457 was incurred bringing in a net deficit of £14,592.
Page 1
Riverside Community Resource Trust
Report of the Trustees for the Year Ended 31st March 2024
FINANCIAL REVIEW
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
The price increases of supplies and services, particularly with utilities, will have to be closely monitored throughout the year and this will remain an on-going concern for the trust, remaining at the forefront of our minds.
FUTURE PLANS
Riverside, working in partnership with Gravesham Borough Council will still deliver community events throughout the summer however these will remain small and pre-bookable in order to keep Riverside expenditure down.
Extra vigilance from the Riverside Team will need to be applied for the next year regarding expenditure. A positive budget has been set for the future and we must all endeavour to follow this budget to maintain Riverside's financial stability.
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
Registered office
The Riverside Centre Dickens Road Gravesend Kent DA12 2JY
Trustees
L J Beven Mrs P Jefford Mrs S Whatmough (resigned 1.1.2024) A Ridgers (resigned 15.1.2024) Mrs C Stone D Mead R Suckling R G Swain (appointed 24.11.2023) (resigned 25.6.2024)
Page 2
Riverside Community Resource Trust
Report of the Trustees for the Year Ended 31st March 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Company Secretary L J Beven
Independent Examiner
Natalie Harrison FCA 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 2024.
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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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 FCA FCCA CTA TEP The Institute of Chartered Accountants in England and Wales
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 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 500 Charitable activities Operational facilities at centre 151,456 Investment income 3 1,909 Total 153,865 EXPENDITURE ON Charitable activities 4 Operational facilities at centre 168,057 NET INCOME/(EXPENDITURE) (14,192) RECONCILIATION OF FUNDS Total funds brought forward 101,900 TOTAL FUNDS CARRIED FORWARD 87,708 |
Restricted funds £ - - - - 400 (400) 420 20 |
2024 Total funds £ 500 151,456 1,909 153,865 168,457 (14,592) 102,320 87,728 |
2023 Total funds £ 1,700 145,157 713 147,570 183,195 (35,625) 137,945 102,320 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
Riverside Community Resource Trust
Balance Sheet 31st March 2024
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 11 4,861 CURRENT ASSETS Debtors 12 13,276 Cash at bank and in hand 77,628 90,904 CREDITORS Amounts falling due within one year 13 (8,057) NET CURRENT ASSETS 82,847 TOTAL ASSETS LESS CURRENT LIABILITIES 87,708 NET ASSETS 87,708 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - 20 20 - 20 20 20 |
2024 Total funds £ 4,861 13,276 77,648 90,924 (8,057) 82,867 87,728 87,728 87,708 20 87,728 |
2023 Total funds £ 8,412 12,070 87,258 99,328 (5,420) 93,908 102,320 102,320 101,900 420 102,320 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(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 2024
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 2024
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...
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Riverside Community Resource Trust
Notes to the Financial Statements - continued
for the Year Ended 31st March 2024
2. DONATIONS AND LEGACIES
| Donations Grants Grants received, included in the above, are as follows: Gravesham Borough Council The charity received grants from the Local Authority to use towards Summer Events. 3. INVESTMENT INCOME Deposit account interest 4. CHARITABLE ACTIVITIES COSTS Direct Costs (see note 5) £ Operational facilities at centre 166,813 5. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Repairs & Maintenance Bank charges Cleaning Refuse Community development Catering costs Staff training Depreciation |
2024 £ 500 - 500 2024 £ - 2024 £ 1,909 Support costs (see note 6) £ 1,644 2024 £ 102,326 7,025 1,219 22,328 2,178 51 834 368 12,227 60 1,141 1,790 276 10,829 180 3,981 166,813 |
2023 £ 1,000 700 1,700 2023 £ 700 2023 £ 713 Totals £ 168,457 |
|---|---|---|
| 2023 £ 102,860 5,980 1,018 27,621 2,501 460 - - 16,273 72 1,139 1,743 5,234 10,832 263 5,584 |
||
| 181,580 |
continued...
Page 9
Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2024
6. SUPPORT COSTS
7.
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Management | costs | Totals | |
| £ | £ | £ | |
| Operational facilities at centre | 768 | 876 | 1,644 |
| NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Depreciation - owned assets | 3,981 | 5,584 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.
9. 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. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,000 Charitable activities Operational facilities at centre 145,157 Investment income 713 Total 146,870 EXPENDITURE ON Charitable activities Operational facilities at centre 181,999 |
2024 5 Restricted funds £ 700 - - 700 1,196 |
2023 5 Total funds £ 1,700 145,157 713 |
|---|---|---|
| 147,570 | ||
| 183,195 |
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2024
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds £ £ NET INCOME/(EXPENDITURE) (35,129) (496) RECONCILIATION OF FUNDS Total funds brought forward 137,029 916 TOTAL FUNDS CARRIED FORWARD 101,900 420 11. TANGIBLE FIXED ASSETS Other tangible Fixtures fixed and assets fittings £ £ COST At 1st April 2023 18,254 70,145 Additions - 430 At 31st March 2024 18,254 70,575 DEPRECIATION At 1st April 2023 18,254 61,733 Charge for year - 3,981 At 31st March 2024 18,254 65,714 NET BOOK VALUE At 31st March 2024 - 4,861 At 31st March 2023 - 8,412 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Trade debtors 10,345 Prepayments and accrued income 2,931 13,276 |
Total funds £ (35,625) 137,945 102,320 Totals £ 88,399 430 88,829 79,987 3,981 83,968 4,861 8,412 2023 £ 7,317 4,753 12,070 |
|---|---|
continued...
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2024
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accruals and deferred income 14. MOVEMENT IN FUNDS Unrestricted funds General fund Designated - Community Development Restricted funds Tesco Play Equipment KCC Kitchen Funding TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Designated - Community Development Restricted funds KCC Kitchen Funding TOTAL FUNDS |
At 1.4.23 £ 100,900 1,000 101,900 20 400 420 102,320 Incoming resources £ 153,865 - 153,865 - 153,865 |
2024 2023 £ £ 180 684 7,877 4,736 8,057 5,420 Net movement At in funds 31.3.24 £ £ (13,916) 86,984 (276) 724 (14,192) 87,708 - 20 (400) - (400) 20 (14,592) 87,728 Resources Movement expended in funds £ £ (167,781) (13,916) (276) (276) (168,057) (14,192) (400) (400) (168,457) (14,592) |
|---|---|---|
continued...
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2024
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.4.22 in funds £ £ Unrestricted funds General fund 134,775 (31,595) Designated - Community Development 2,254 (3,534) 137,029 (35,129) Restricted funds Tesco Play Equipment 116 (96) KCC Kitchen Funding 800 (400) 916 (496) TOTAL FUNDS 137,945 (35,625) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 145,870 Designated - Community Development 1,000 146,870 Restricted funds Tesco Play Equipment - GBC Summer Activity Funding 700 KCC Kitchen Funding - 700 TOTAL FUNDS 147,570 |
Transfers between At funds 31.3.23 £ £ (2,280) 100,900 2,280 1,000 - 101,900 - 20 - 400 - 420 - 102,320 Resources Movement expended in funds £ £ (177,465) (31,595) (4,534) (3,534) (181,999) (35,129) (96) (96) (700) - (400) (400) (1,196) (496) (183,195) (35,625) |
|---|---|
continued...
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2024
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated - Community Development Restricted funds Tesco Play Equipment KCC Kitchen Funding TOTAL FUNDS |
At 1.4.22 £ 134,775 2,254 137,029 116 800 916 137,945 |
Net movement in funds £ (45,511) (3,810) (49,321) (96) (800) (896) (50,217) |
Transfers between funds £ (2,280) 2,280 - - - - - |
At 31.3.24 £ 86,984 724 |
|---|---|---|---|---|
| 87,708 20 - |
||||
| 20 | ||||
| 87,728 |
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 GBC Summer Activity Funding KCC Kitchen Funding TOTAL FUNDS |
Incoming resources £ 299,735 1,000 300,735 - 700 - 700 301,435 |
Resources Movement expended in funds £ £ (345,246) (45,511) (4,810) (3,810) (350,056) (49,321) (96) (96) (700) - (800) (800) (1,596) (896) (351,652) (50,217) |
Resources Movement expended in funds £ £ (345,246) (45,511) (4,810) (3,810) (350,056) (49,321) (96) (96) (700) - (800) (800) (1,596) (896) (351,652) (50,217) |
|---|---|---|---|
| (49,321) (96) - (800) |
|||
| (896) | |||
| (50,217) |
continued...
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2024
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2024.
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Riverside Community Resource Trust
Detailed Statement of Financial Activities for the Year Ended 31st March 2024
| Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS Donations and legacies Donations 500 - Grants - - 500 - Investment income Deposit account interest 1,909 - Charitable activities Catering Income 19,598 - Room Hire 129,794 - Other Income 2,064 - 151,456 - Total incoming resources 153,865 - EXPENDITURE Charitable activities Wages 97,395 - Social security 2,876 - Pensions 2,055 - Rates and water 7,025 - Insurance 1,219 - Light and heat 22,328 - Telephone 2,178 - Postage and stationery 51 - Advertising 834 - Sundries 368 - Repairs & Maintenance 12,227 - Bank charges 60 - Cleaning 1,141 - Refuse 1,790 - Community development 276 - Catering costs 10,829 - Staff training 180 - Fixtures and fittings 3,581 400 166,413 400 |
2024 Total funds £ 500 - 500 1,909 19,598 129,794 2,064 151,456 153,865 97,395 2,876 2,055 7,025 1,219 22,328 2,178 51 834 368 12,227 60 1,141 1,790 276 10,829 180 3,981 166,813 |
2023 Total funds £ 1,000 700 |
|---|---|---|
| 1,700 713 20,995 122,222 1,940 |
||
| 145,157 | ||
| 147,570 97,525 3,277 2,058 5,980 1,018 27,621 2,501 460 - - 16,273 72 1,139 1,743 5,234 10,832 263 5,584 |
||
| 181,580 |
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 2024
| Unrestricted Restricted funds funds £ £ Support costs Management Sundries - - Accountancy fees 768 - 768 - Governance costs Independent examiners' fees 876 - Total resources expended 168,057 400 Net (expenditure)/income (14,192) (400) |
2024 Total funds £ - 768 768 876 168,457 (14,592) |
2023 Total funds £ 13 750 763 852 183,195 (35,625) |
|---|---|---|
This page does not form part of the statutory financial statements
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