REGISTERED COMPANY NUMBER: 05771984 (England and Wales) REGISTERED CHARITY NUMBER: 1122566
Report of the Trustees and
Financial Statements for the Year Ended 31st March 2025
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 2025
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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
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Riverside Community Resource Trust
Report of the Trustees for the Year Ended 31st March 2025
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 2025. 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.
ACHIEVEMENTS 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 provides significant community benefit providing services which include Gravesham Foodbank, Mind, disability groups and NHS services.
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. A strong board of Trustees is central to the continued success of the centre. Riverside are actively searching for individuals to join our Board of Trustees.
FINANCIAL REVIEW
Financial position
During the year total income of £160,244 was received. Expenditure of £164,901 was incurred bringing in a net deficit of £4,657.
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.
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Riverside Community Resource Trust
Report of the Trustees for the Year Ended 31st March 2025
FINANCIAL REVIEW
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. Riverside is a self-funding organisation so it is important to maintain high standards of customer relations..
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 C Stone D Mead R Suckling R G Swain (resigned 25.6.2024)
Company Secretary
L J Beven
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Riverside Community Resource Trust
Report of the Trustees for the Year Ended 31st March 2025
REFERENCE AND ADMINISTRATIVE DETAILS
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:
........................................................................ D Mead - Trustee
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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 2025.
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
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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 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: .............................................
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Riverside Community Resource Trust
Statement of Financial Activities for the Year Ended 31st March 2025
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Charitable activities Operational facilities at centre 158,326 Investment income 3 1,918 Total 160,244 EXPENDITURE ON Charitable activities 4 Operational facilities at centre 164,881 NET INCOME/(EXPENDITURE) (4,637) RECONCILIATION OF FUNDS Total funds brought forward 87,708 TOTAL FUNDS CARRIED FORWARD 83,071 |
Restricted funds £ - - - - 20 (20) 20 - |
2025 Total funds £ - 158,326 1,918 160,244 164,901 (4,657) 87,728 83,071 |
2024 Total funds £ 500 151,456 1,909 153,865 168,457 (14,592) 102,320 87,728 |
|---|---|---|---|
The notes form part of these financial statements
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Riverside Community Resource Trust
Balance Sheet 31st March 2025
| Unrestricted Restricted funds funds Notes £ £ FIXED ASSETS Tangible assets 11 5,662 - CURRENT ASSETS Debtors 12 12,937 - Cash at bank and in hand 73,153 - 86,090 - CREDITORS Amounts falling due within one year 13 (8,681) - NET CURRENT ASSETS 77,409 - TOTAL ASSETS LESS CURRENT LIABILITIES 83,071 - NET ASSETS 83,071 - FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
2025 Total funds £ 5,662 12,937 73,153 86,090 (8,681) 77,409 83,071 83,071 83,071 - 83,071 |
2024 Total funds £ 4,861 13,276 77,648 90,924 (8,057) 82,867 87,728 87,728 87,708 20 87,728 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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
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Riverside Community Resource Trust
Balance Sheet - continued 31st March 2025
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:
............................................. D Mead - Trustee
The notes form part of these financial statements
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Riverside Community Resource Trust
Notes to the Financial Statements for the Year Ended 31st March 2025
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.
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2025
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2. DONATIONS AND LEGACIES
2025 2024
£ £
Donations - 500
3. INVESTMENT INCOME
2025 2024
£ £
Deposit account interest 1,918 1,909
4. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 5) note 6) Totals
£ £ £
Operational facilities at centre 163,257 1,644 164,901
5. DIRECT COSTS OF CHARITABLE ACTIVITIES
2025 2024
£ £
Staff costs 113,258 102,326
Rates and water 1,866 7,025
Insurance 937 1,219
Light and heat 18,277 22,328
Telephone 1,791 2,178
Postage and stationery 54 51
Advertising 504 834
Sundries 340 368
Repairs & Maintenance 9,577 12,227
Bank charges 60 60
Cleaning 943 1,141
Refuse 1,923 1,790
Community development 329 276
Catering costs 10,774 10,829
Staff training 198 180
Depreciation 2,426 3,981
163,257 166,813
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2025
6. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Operational facilities at centre | Governance Management costs Totals £ £ £ 768 876 1,644 |
| NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2025 2024 £ £ 2,426 3,981 |
7. NET INCOME/(EXPENDITURE)
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024.
9. STAFF COSTS
The average monthly number of employees during the year was as follows:
10.
| 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 500 Charitable activities Operational facilities at centre 151,456 Investment income 1,909 Total 153,865 EXPENDITURE ON Charitable activities Operational facilities at centre 168,057 |
2025 5 Restricted funds £ - - - - 400 |
2024 5 Total funds £ 500 151,456 1,909 153,865 168,457 |
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2025
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10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£ £ £
NET INCOME/(EXPENDITURE) (14,192) (400) (14,592)
RECONCILIATION OF FUNDS
Total funds brought forward 101,900 420 102,320
TOTAL FUNDS CARRIED FORWARD 87,708 20 87,728
11. TANGIBLE FIXED ASSETS
Other
tangible Fixtures
fixed and
assets fittings Totals
£ £ £
COST
At 1st April 2024 18,254 70,575 88,829
Additions - 3,227 3,227
At 31st March 2025 18,254 73,802 92,056
DEPRECIATION
At 1st April 2024 18,254 65,714 83,968
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Charge for year 2,426 2,426
At 31st March 2025 18,254 68,140 86,394
NET BOOK VALUE
At 31st March 2025 - 5,662 5,662
At 31st March 2024 - 4,861 4,861
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade debtors 9,409 10,345
Prepayments and accrued income 3,528 2,931
12,937 13,276
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2025
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accruals and deferred income MOVEMENT IN FUNDS Unrestricted funds General fund Designated - Community Development Restricted funds Tesco Play Equipment TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Designated - Community Development Restricted funds Tesco Play Equipment TOTAL FUNDS |
At 1.4.24 £ 86,984 724 87,708 20 87,728 Incoming resources £ 160,243 1 160,244 - 160,244 |
2025 2024 £ £ 701 180 7,980 7,877 8,681 8,057 Net movement At in funds 31.3.25 £ £ (4,309) 82,675 (328) 396 (4,637) 83,071 (20) - (4,657) 83,071 Resources Movement expended in funds £ £ (164,552) (4,309) (329) (328) (164,881) (4,637) (20) (20) (164,901) (4,657) |
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14. MOVEMENT IN FUNDS
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2025
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.23 £ Unrestricted funds General fund 100,900 Designated - Community Development 1,000 101,900 Restricted funds Tesco Play Equipment 20 KCC Kitchen Funding 400 420 TOTAL FUNDS 102,320 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 153,865 Designated - Community Development - 153,865 Restricted funds KCC Kitchen Funding - TOTAL FUNDS 153,865 |
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) |
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2025
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 |
Net movement At At 1.4.23 in funds 31.3.25 £ £ £ 100,900 (18,225) 82,675 1,000 (604) 396 |
|---|---|
| Restricted funds Tesco Play Equipment KCC Kitchen Funding |
101,900 (18,829) 83,071 20 (20) - 400 (400) - |
| 420 (420) - |
|
| TOTAL FUNDS | 102,320 (19,249) 83,071 |
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 KCC Kitchen Funding TOTAL FUNDS |
Incoming resources £ 314,108 1 314,109 - - - 314,109 |
Resources Movemen expended in funds £ £ (332,333) (18,225) (605) (604) (332,938) (18,829) (20) (20) (400) (400) (420) (420) (333,358) (19,249) |
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Riverside Community Resource Trust
Notes to the Financial Statements - continued for the Year Ended 31st March 2025
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2025.
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Riverside Community Resource Trust
Detailed Statement of Financial Activities for the Year Ended 31st March 2025
| Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS Donations and legacies Donations - - Investment income Deposit account interest 1,918 - Charitable activities Catering Income 17,110 - Room Hire 139,036 - Other Income 2,180 - 158,326 - Total incoming resources 160,244 - EXPENDITURE Charitable activities Wages 106,797 - Social security 4,133 - Pensions 2,328 - Rates and water 1,866 - Insurance 937 - Light and heat 18,277 - Telephone 1,791 - Postage and stationery 54 - Advertising 504 - Sundries 340 - Repairs & Maintenance 9,577 - Bank charges 60 - Cleaning 943 - Refuse 1,923 - Community development 309 20 Catering costs 10,774 - Staff training 198 - Fixtures and fittings 2,426 - 163,237 20 Support costs Management Accountancy fees 768 - |
2025 Total funds £ - 1,918 17,110 139,036 2,180 158,326 160,244 106,797 4,133 2,328 1,866 937 18,277 1,791 54 504 340 9,577 60 943 1,923 329 10,774 198 2,426 163,257 768 |
2024 Total funds £ 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 3,981 166,813 768 |
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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 2025
| Unrestricted Restricted funds funds £ £ Management Governance costs Independent examiners' fees 876 - Total resources expended 164,881 20 Net (expenditure)/income (4,637) (20) |
2025 Total funds £ 876 164,901 (4,657) |
2024 Total funds £ 876 168,457 (14,592) |
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This page does not form part of the statutory financial statements
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