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 2023
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 2023
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Page |
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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 |
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12 |
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New Bushbury Triangle Co-operative Ltd
Report of the Trustees for the Year Ended 31 March 2023
The trustees who are also directors of the charityfor the purposes of the Companies Act 2006, present their report with the
financialstatementsofthecharityfortheyearended31March2023.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The objectives of the charity are:
- To promotethe benefitof the inhabitantsof the New BushburyTrianglein a commoneffort to advanceeducationand to
provide facilities in the interests of social welfare with the objective of improving the conditions of life.
- To establish,or securethe establishmentof a communitycentreandto maintainandmanagesuchcentrein 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
TheCharityorganisesbringingthecommunitytogetherandprovidesspaceforthemtointeractwithotherfamilies who
have common needs.TheCharityprovides or facilitatesnumerousactivitiesand supportservices throughoutthe year in the
community centre established by the charity in accordance with its objective. These activities include 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.
In addition,the Charityhelps to rehouse the homeless and other families in need, and provides advice in matters pertaining
to them. Financial help may be provided to tenants struggling to pay their rent, ie : help with first weeks rent on sign up.
Page 1
New Bushbury Triangle Co-operative Ltd
Report of the Trustees for the Year Ended 31 March 2023
FINANCIAL REVIEW
Principal funding sources
TheprincipalsupportoffundingisthroughamanagementfeereceivedfromAccordHousingAssociationLtd for
managementof their propertiesin our area. WolverhamptonCity Council provide the building rent and rates free and cover
all the repairs.
Going concern
The trusteesare not aware of any reasonor uncertaintiesthatwould affectthe abilityof the charityto continueas a going
concern.
FUTURE PLANS
Thecharityexpectstocontinuethecurrentrangeof activitiesand,subjecttoitscoreobjectivesbeingmetand 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
UnlessotherwisedeterminedbythecompanyinGeneralMeeting,theboardshallcompriseaminimumofsevenand not
more than eighteen members.
On the Board the interest groups shall be represented by twelve elected representatives elected by Tenant members.
Board Members are elected at the Annual General Meeting. The nominationof candidatesfor election to the Board and the
methodoftheirelectionshallbeinaccordancewiththeruleswhichtheBoardmaydetermineafterconsultation with
members.
Board members shall hold office until the third Annual General meeting following their election.
TheBoardmayacttofillanycasualvacancyduringtheinterveningperiodbetweenannualelections.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
1124150
Registered office
74 Stanley Road
Bushbury
Wolverhampton
West Midlands
WV10 9EL
Trustees
D Bloomfield Security Officer
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 2023
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 30 January 2024 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 2023.
Responsibilities and basis of report
As the charity'strustees 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 satisfiedmyself that the accountsof the Companyare not required to be auditedunder Part 16 of the 2006 Act and
areeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsascarried out
underSection145 of the CharitiesAct 2011('the2011Act').In carryingout my examinationI havefollowedthe 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 attentionin connectionwith 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 havenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Stephen Gray
Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST
30 January 2024
Page 4
New Bushbury Triangle Co-operative Ltd
Statement of Financial Activities for the Year Ended 31 March 2023
|
|
31.3.23 |
31.3.22 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
Charitable activities |
|
|
|
Property management and services |
|
49,363 |
47,043 |
Investment income |
2 |
3,860 |
2,503 |
Total |
|
53,223 |
49,546 |
EXPENDITURE ON |
|
|
|
Charitable activities |
|
|
|
Property management and services |
|
46,127 |
44,503 |
NET INCOME |
|
7,096 |
5,043 |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
16,777 |
11,734 |
TOTAL FUNDS CARRIED FORWARD |
|
23,873 |
16,777 |
The notes form part of these financial statements
Page 5
New Bushbury Triangle Co-operative Ltd
Balance Sheet 31 March 2023
|
|
31.3.23 |
31.3.22 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
FIXED ASSETS |
|
|
|
Tangible assets |
6 |
219 |
219 |
CURRENT ASSETS |
|
|
|
Cash at bank and in hand |
|
25,018 |
20,173 |
CREDITORS |
|
|
|
Amounts falling due within one year |
7 |
(1,364) |
(3,615) |
NET CURRENT ASSETS |
|
23,654 |
16,558 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
23,873 |
16,777 |
NET ASSETS |
|
23,873 |
16,777 |
FUNDS |
8 |
|
|
Unrestricted funds: |
|
|
|
General fund |
|
23,873 |
16,777 |
TOTAL FUNDS |
|
23,873 |
16,777 |
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year
ended 31 March 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)ensuringthatthecharitablecompanykeepsaccountingrecordsthatcomplywithSections386and387of 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.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon30January2024and 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 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102 'The FinancialReportingStandardapplicablein the UK and Republic of Ireland' and the Companies Act
2006. The financial statements have been prepared under the historical cost convention.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncetheCharitycharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesare recognisedas expenditureas soon as there is a legal or constructiveobligationcommittingthe charity
tothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementand the
amountof the obligationcan be measuredreliably.Expenditureis accountedfor on an accrualsbasis and has been
classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannotbe 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.
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.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. 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.
2. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
|
31.3.23 |
31.3.22 |
|
£ |
£ |
Rents received |
3,860 |
2,503 |
continued...
Page 7
New Bushbury Triangle Co-operative Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
Therewere notrustees'remunerationor otherbenefitsfortheyearended31March2023norfortheyear ended
31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
5.
|
31.3.23 |
31.3.22 |
Support staff |
2 |
2 |
No employees received emoluments in excess of £60,000. |
|
|
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
|
|
Unrestricted |
|
|
fund |
|
|
£ |
INCOME AND ENDOWMENTS FROM |
|
|
Charitable activities |
|
|
Property management and services |
|
47,043 |
Investment income |
|
2,503 |
Total |
|
49,546 |
EXPENDITURE ON |
|
|
Charitable activities |
|
|
Property management and services |
|
44,503 |
NET INCOME |
|
5,043 |
RECONCILIATION OF FUNDS |
|
|
Total funds brought forward |
|
11,734 |
TOTAL FUNDS CARRIED FORWARD |
|
16,777 |
continued...
Page 8
New Bushbury Triangle Co-operative Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
6. TANGIBLE FIXED ASSETS
6. |
TANGIBLE FIXED ASSETS |
|
|
|
|
|
Improvements |
|
|
|
|
to |
Plant and |
|
|
|
property |
machinery |
Totals |
|
|
£ |
£ |
£ |
|
COST |
|
|
|
|
At 1 April 2022 and 31 March 2023 |
17,970 |
64,743 |
82,713 |
|
DEPRECIATION |
|
|
|
|
At 1 April 2022 and 31 March 2023 |
17,865 |
64,629 |
82,494 |
|
NET BOOK VALUE |
|
|
|
|
At 31 March 2023 |
105 |
114 |
219 |
|
At 31 March 2022 |
105 |
114 |
219 |
7. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
31.3.23 |
31.3.22 |
|
|
|
£ |
£ |
|
Social security and other taxes |
|
404 |
404 |
|
Accruals and deferred income |
|
960 |
3,211 |
|
|
|
1,364 |
3,615 |
8. |
MOVEMENT IN FUNDS |
|
|
|
|
|
|
Net |
|
|
|
|
movement |
At |
|
|
At 1.4.22 |
in funds |
31.3.23 |
|
|
£ |
£ |
£ |
|
Unrestricted funds |
|
|
|
|
General fund |
16,777 |
7,096 |
23,873 |
|
TOTAL FUNDS |
16,777 |
7,096 |
23,873 |
|
Net movement in funds, included in the above are as follows: |
|
|
|
|
|
Incoming |
Resources |
Movement |
|
|
resources |
expended |
in funds |
|
|
£ |
£ |
£ |
|
Unrestricted funds |
|
|
|
|
General fund |
53,223 |
(46,127) |
7,096 |
|
TOTAL FUNDS |
53,223 |
(46,127) |
7,096 |
continued...
Page 9
New Bushbury Triangle Co-operative Ltd
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
8. MOVEMENT IN FUNDS - continued
Comparatives for 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 |
Comparative 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 |
A current year 12 months and prior year 12 months combined position is as follows:
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.21 |
in funds |
31.3.23 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
11,734 |
12,139 |
23,873 |
TOTAL FUNDS |
11,734 |
12,139 |
23,873 |
A currentyear 12 months and prior year 12 months combinednet movement in funds,includedin the above are as
follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
102,769 |
(90,630) |
12,139 |
TOTAL FUNDS |
102,769 |
(90,630) |
12,139 |
continued...
Page 10
New Bushbury Triangle Co-operative Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 11
New Bushbury Triangle Co-operative Ltd
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
Detailed Statement of Financial Activities
for the Year Ended 31 March 2023 |
|
|
|
31.3.23 |
31.3.22 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Investment income |
|
|
Rents received |
3,860 |
2,503 |
Charitable activities |
|
|
Grants |
49,363 |
47,043 |
Total incoming resources |
53,223 |
49,546 |
EXPENDITURE |
|
|
Charitable activities |
|
|
Wages |
33,559 |
32,451 |
Support costs |
|
|
Management |
|
|
Rates and water |
345 |
377 |
Insurance |
921 |
921 |
Light and heat |
4,026 |
4,426 |
Telephone |
733 |
530 |
Postage and stationery |
1,176 |
1,233 |
Sundries |
229 |
344 |
|
7,430 |
7,831 |
Finance |
|
|
Bank charges |
477 |
468 |
Information technology |
|
|
Repairs and renewals |
1,836 |
2,340 |
Governance costs |
|
|
Accountancy fees |
1,180 |
960 |
Travel expenses |
345 |
453 |
Trips and meals |
1,300 |
- |
|
2,825 |
1,413 |
Total resources expended |
46,127 |
44,503 |
Net income |
7,096 |
5,043 |
This page does not form part of the statutory financial statements
Page 12