**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:
- Develop marketing of the Trust's opportunities and facilities.
- Develop the Trust's reputation through marketing opportunities.
- Develop the Trust's financial viability.
- Develop the quantum of secondary spend by Trust customers.
- 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:
1. 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
3. 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
4. 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
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (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...
Page 8
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...
Page 10
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...
Page 11
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...
Page 12
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...
Page 13
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...
Page 14
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.
Page 15
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
Page 16
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
Page 17