2022-03-31-accounts - New Bushbury Triangle Co-Operative Limited

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REGISTERED COMPANY NUMBER: 03588942 (England and Wales)
REGISTERED CHARITY NUMBER: 1124150

Report of the Trustees and

`Unaudited Financial Statements`

for the Year Ended 31 March 2022

`for`

New Bushbury Triangle Co-operative Ltd
(A Company Limited by Guarantee)

Crowther Jordan Limited
Chartered Accountants

39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

New Bushbury Triangle Co-operative Ltd

Contents of the Financial Statements
for the Year Ended 31 March 2022

	`Page`
`Report of the Trustees`	`1 to 3`
`Independent Examiner's Report`	`4`
`Statement of Financial Activities`	`5`
`Balance Sheet`	`6`
`Notes to the Financial Statements`	`7 to 11`
`Detailed Statement of Financial Activities`	`12`

New Bushbury Triangle Co-operative Ltd

`Report of the Trustees for the Year Ended 31 March 2022`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2022.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES Objectives and aims`

The objectives of the charity are:

-TopromotethebenefitoftheinhabitantsoftheNewBushburyTriangleinacommonefforttoadvance education
and to provide facilities in the interests of social welfare with the objective of improving the conditions of life.

-Toestablish,orsecuretheestablishmentofacommunitycentreandtomaintainandmanagesuchcentre in
furtherance of the above objective.

- Promote such other charitable purposes as from time to time may be determined.

`Significant activities`

In pursuance of the charities objectives the following activities are undertaken:

- providing a safe and supportive community centre,

organising social and educational activities,
encouragement of all members of the community to participate and develop and sustain a sense of community.
working with young people to encourage inclusion and reverse the process of exclusion,
the provision of facilities to maximise the wealth of the Bushbury estate and facilitate employment opportunities,
proving assistance to the community in relation to the maintenance, repair and enhancement of the estate,
provision and maintenance of amenities, services and landscaping

`Public benefit`

All trustees are aware of and adhere to, the guidelines of the Charity Commission on Public Benefit.

`ACHIEVEMENT AND PERFORMANCE`

`Charitable activities`

TheCharityorganisesbringingthecommunitytogetherandprovidesspaceforthemtointeractwithother families
whohavecommonneeds.TheCharityprovidesorfacilitatesnumerousactivitiesandsupportservicesthroughout the
yearinthecommunitycentreestablishedbythecharityinaccordancewithitsobjective.Theseactivitiesinclude the
following:

Tenant management and support
Housing surgeries
Councillors' surgeries
Mental health club
Credit Union
Sewing classes
Coffee mornings
Public access to computer and photocopying facilities
Organising fund days and coach trips.

Inaddition,theCharityhelpstorehousethehomelessandotherfamiliesinneed,andprovidesadvicein matters
pertainingtothem.Financialhelpmaybeprovidedtotenantsstrugglingtopaytheirrent,ie: helpwithfirst weeks
rent on sign up.

Page 1

New Bushbury Triangle Co-operative Ltd

`Report of the Trustees for the Year Ended 31 March 2022`

`FINANCIAL REVIEW`

`Principal funding sources`

TheprincipalsupportoffundingisthroughamanagementfeereceivedfromAccordHousingAssociationLtd for
managementof their propertiesin our area. WolverhamptonCity Councilprovidethe buildingrent and rates free and
cover all the repairs.

`Going concern`

The trusteesare notawareof anyreasonor uncertaintiesthatwouldaffectthe abilityof the charityto continueas a
going concern.

`FUTURE PLANS`

Thecharityexpectstocontinuethecurrentrangeofactivitiesand,subjecttoitscoreobjectivesbeingmet and
budgetary constraints, to adapt these services as additional needs are identified.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.

`Recruitment and appointment of new trustees`

Unlessotherwisedeterminedby the companyin GeneralMeeting,the boardshallcomprisea minimumof seven and
not more than eighteen members.

On the Board the interest groups shall be represented by twelve elected representatives elected by Tenant members.

BoardMembersareelectedattheAnnualGeneralMeeting.Thenominationofcandidatesforelectiontothe Board
andthemethodoftheirelectionshallbeinaccordancewiththeruleswhichtheBoardmaydetermine after
consultation with members.

Board members shall hold office until the third Annual General meeting following their election.

The Boardmay act to fillanycasualvacancyduringthe interveningperiodbetweenannualelections.Co-opted Board
members shall retire at the next Annual General Meeting following their co-option.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

03588942 (England and Wales)

`Registered Charity number`

`Registered office`

74 Stanley Road
Bushbury
Wolverhampton
West Midlands
WV10 9EL

`Trustees`

D Bloomfield Security Officer
R J Bone Disabled (deceased 23.12.2021)
Ms M J Gray Project Worker
Ms K Lee Centre Manager
G J Wellsbury Painter Decorator
Mrs A N Wellsbury Housewife

Page 2

New Bushbury Triangle Co-operative Ltd

`Report of the Trustees`

`for the Year Ended 31 March 2022`

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Company Secretary`

Ms K Lee

`Independent Examiner`

Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

Approved by order of the board of trustees on 22 December 2022 and signed on its behalf by:

Ms K Lee - Trustee

Page 3

`Independent Examiner's Report to the Trustees of New Bushbury Triangle Co-operative Ltd`

`Independent examiner's report to the trustees of New Bushbury Triangle Co-operative Ltd ('the Company')`

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

`Responsibilities and basis of report`

As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006  Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith 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)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Stephen Gray
FCA
Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

22 December 2022

Page 4

New Bushbury Triangle Co-operative Ltd

`Statement of Financial Activities for the Year Ended 31 March 2022`

		`31.3.22`	`31.3.21`
		`Unrestricted`	`Total`
		`fund`	`funds`
	`Notes`	`£`	`£`
`INCOME AND ENDOWMENTS FROM`
`Charitable activities`
`Property management and services`		`47,043`	`46,558`
`Investment income`	`2`	`2,503`	`3,084`
`Total`		`49,546`	`49,642`
`EXPENDITURE ON`
`Charitable activities`
`Property management and services`		`44,503`	`47,669`
`NET INCOME`		`5,043`	`1,973`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`		`11,734`	`9,761`
`TOTAL FUNDS CARRIED FORWARD`		`16,777`	`11,734`

The notes form part of these financial statements

Page 5

New Bushbury Triangle Co-operative Ltd

`Balance Sheet`

`31 March 2022`

		`31.3.22`	`31.3.21`
		`Unrestricted`	`Total`
		`fund`	`funds`
	`Notes`	`£`	`£`
`FIXED ASSETS`
`Tangible assets`	`6`	`219`	`219`
`CURRENT ASSETS`
`Cash at bank and in hand`		`20,173`	`15,047`
`CREDITORS`
`Amounts falling due within one year`	`7`	`(3,615)`	`(3,532)`
`NET CURRENT ASSETS`		`16,558`	`11,515`
`TOTAL ASSETS LESS CURRENT LIABILITIES`		`16,777`	`11,734`
`NET ASSETS`		`16,777`	`11,734`
`FUNDS`	`8`
`Unrestricted funds:`
`General fund`		`16,777`	`11,734`
`TOTAL FUNDS`		`16,777`	`11,734`

The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 March 2022.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 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
(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.

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

The financialstatementswere approvedby the Boardof Trusteesandauthorisedfor issueon 22 December2022 and
were signed on its behalf by:

M J Gray - Trustee

The notes form part of these financial statements

Page 6

New Bushbury Triangle Co-operative Ltd

`Notes to the Financial Statements for the Year Ended 31 March 2022`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.

`Income`

All incomeis recognisedin the Statementof FinancialActivitiesoncethe Charitycharityhas entitlementto  the
funds, it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.

`Tangible fixed assets`

Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful
life.

`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.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

`2. INVESTMENT INCOME`

`INVESTMENT INCOME`
	`31.3.22`	`31.3.21`
	`£`	`£`
`Rents received`	`2,503`	`3,084`

continued...

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New Bushbury Triangle Co-operative Ltd

`Notes to the Financial Statements - continued for the Year Ended 31 March 2022`

`3. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2022norforthe year
ended 31 March 2021.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31March2022norfortheyear ended
31 March 2021.

`4. STAFF COSTS`

The average monthly number of employees during the year was as follows:

Support staff
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Charitable activities
Property management and services
Investment income
Total
EXPENDITURE ON
Charitable activities
Property management and services
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD 31.3.22
31.3.21
2
2
Unrestricted
fund
£
46,558
3,084
49,642
47,669
1,973
9,761
11,734

`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

continued...

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New Bushbury Triangle Co-operative Ltd

`Notes to the Financial Statements - continued for the Year Ended 31 March 2022`

`6. TANGIBLE FIXED ASSETS`

`6.`	`TANGIBLE FIXED ASSETS`
		`Improvements`
		`to`	`Plant and`
		`property`	`machinery`	`Totals`
		`£`	`£`	`£`
	`COST`
	`At 1 April 2021 and 31 March 2022`	`17,970`	`64,743`	`82,713`
	`DEPRECIATION`
	`At 1 April 2021 and 31 March 2022`	`17,865`	`64,629`	`82,494`
	`NET BOOK VALUE`
	`At 31 March 2022`	`105`	`114`	`219`
	`At 31 March 2021`	`105`	`114`	`219`
`7.`	`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
			`31.3.22`	`31.3.21`
			`£`	`£`
	`Social security and other taxes`		`404`	`322`
	`Accruals and deferred income`		`3,211`	`3,210`
			`3,615`	`3,532`
`8.`	`MOVEMENT IN FUNDS`
			`Net`
			`movement`	`At`
		`At 1.4.21`	`in funds`	`31.3.22`
		`£`	`£`	`£`
	`Unrestricted funds`
	`General fund`	`11,734`	`5,043`	`16,777`
	`TOTAL FUNDS`	`11,734`	`5,043`	`16,777`
	`Net movement in funds, included in the above are as follows:`
		`Incoming`	`Resources`	`Movement`
		`resources`	`expended`	`in funds`
		`£`	`£`	`£`
	`Unrestricted funds`
	`General fund`	`49,546`	`(44,503)`	`5,043`
	`TOTAL FUNDS`	`49,546`	`(44,503)`	`5,043`

continued...

Page 9

New Bushbury Triangle Co-operative Ltd

`Notes to the Financial Statements - continued for the Year Ended 31 March 2022`

`8. MOVEMENT IN FUNDS - continued`

`Comparatives for movement in funds`

	`Net`
	`movement`	`At`
`At 1.4.20`	`in funds`	`31.3.21`
`£`	`£`	`£`
`Unrestricted funds`
`General fund` `9,761`	`1,973`	`11,734`
`TOTAL FUNDS` `9,761`	`1,973`	`11,734`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`	`Resources`	`Movement`
`resources`	`expended`	`in funds`
`£`	`£`	`£`
`Unrestricted funds`
`General fund` `49,642`	`(47,669)`	`1,973`
`TOTAL FUNDS` `49,642`	`(47,669)`	`1,973`

A current year 12 months and prior year 12 months combined position is as follows:

		`Net`
		`movement`	`At`
	`At 1.4.20`	`in funds`	`31.3.22`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`9,761`	`7,016`	`16,777`
`TOTAL FUNDS`	`9,761`	`7,016`	`16,777`

A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`99,188`	`(92,172)`	`7,016`
`TOTAL FUNDS`	`99,188`	`(92,172)`	`7,016`

continued...

Page 10

New Bushbury Triangle Co-operative Ltd

`Notes to the Financial Statements - continued for the Year Ended 31 March 2022`

`9. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 March 2022.

Page 11

New Bushbury Triangle Co-operative Ltd

`Detailed Statement of Financial Activities for the Year Ended 31 March 2022`

`Detailed Statement of Financial Activities` `for the Year Ended 31 March 2022`
	`31.3.22`	`31.3.21`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Investment income`
`Rents received`	`2,503`	`3,084`
`Charitable activities`
`Grants`	`47,043`	`46,558`
`Total incoming resources`	`49,546`	`49,642`
`EXPENDITURE`
`Charitable activities`
`Wages`	`32,451`	`33,989`
`Support costs`
`Management`
`Rates and water`	`377`	`1,424`
`Insurance`	`921`	`1,546`
`Light and heat`	`4,426`	`4,422`
`Telephone`	`530`	`720`
`Postage and stationery`	`1,233`	`1,607`
`Sundries`	`344`	`811`
	`7,831`	`10,530`
`Finance`
`Bank charges`	`468`	`482`
`Information technology`
`Repairs and renewals`	`2,340`	`1,086`
`Governance costs`
`Accountancy fees`	`960`	`1,222`
`Travel expenses`	`453`	`360`
	`1,413`	`1,582`
`Total resources expended`	`44,503`	`47,669`
`Net income`	`5,043`	`1,973`

This page does not form part of the statutory financial statements

Page 12