**Charity number: 1129153** **BOARD OF TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **SIDNEY WEST CENTRE CHARITY** ## **CONTENTS** ||Page|Page| |---|---|---| |**Reference and administrative details of the Charity, its trustees and advisers**||1| |**Board of Trustees’ report**|2|- 3| |**Statement of financial activities**||4| |**Balance sheet**||5| |**Notes to the financial statements**|6|- 7| |**Independent Examiner's report**|8|| ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023** ## **Board of Trustees** Simon Hicks - Chairman Stephen Laing Freda Thomas* Diane Heckles Doreen Cunningham Matthew Cornish Nick Ellis Anne Miles-Eves Janice Henwood** _*since deceased ** since resigned_ ## **Charity registered number** 1129153. ## **Principal office** 96 Church Walk, Burgess Hill, West Sussex, RH15 9AS. ## **Financial Report prepared by:** Burgess Hill Town Council, 96 Church Walk, Burgess Hill, RH15 0LA. ## **Auditors** Mulberry & Co Chartered Certified Accountants & Chartered Tax Advisers. Eastgate House, Dogflud Way, Farnham, Surrey GU9 7UD ## **Bankers** National Westminster Bank, Haywards Heath. Page 1 ## **BOARD OF TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023** The Board of Trustees submit their annual report and the financial statements of the Sidney West Centre Charity (the Charity) for the year ended 31 March 2023. The Board of Trustees confirm the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Constitution** The Charity is governed by a Memorandum and Articles of Association, dated 31 October 2008, and is a registered Charity number 1129153. ## **Method of Appointment or Election of Board of Trustees** The management of the Charity is the responsibility of the Board of Trustees, which is elected under the terms of the Memorandum and Articles of Association. ## **Organisational Structure and Decision Making** The Board of Trustees meets quarterly and makes the main decisions regarding the business of the Charity. It delegates the day to day running of the Community Centre to Burgess Hill Town Council. ## **Risk Management** The Board of Trustees has assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and is satisfied that systems are in place to mitigate its exposure to the major risks. ## **OBJECTIVES AND ACTIVITIES** ## **Policies and Objectives** The principal objects of the Charity are to promote the benefit of the inhabitants of Burgess Hill in the County of West Sussex and to establish, maintain and manage a Community Centre. There have been no changes to the objects in the last year. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Review of Activities** The Charity continues to be a well-used facility from fitness, martial arts and children’s party hirers through to being the local area’s family safeguarding location. Financial results for the year show a deficit of £7,493 due, in the main, to increased energy costs and maintenance charges. ## **Investment policy and Performance** Cash reserves at the end of the financial year remain strong at £86k, and, where possible, funds will be placed with established high street banks and building societies. Page 2 ## **FINANCIAL REVIEW** ## **Reserves Policy** It is the policy of the Charity to maintain a Sinking Fund for the long-term future repair and replacement of major items of expenditure. Currently, 50% of the annual surplus, if any, is transferred each year to the Sinking Fund. ## **Principal Income** The Charity’s principal income is derived from hiring out the facilities at the Community Centre. ## **PLANS FOR THE FUTURE** The Charity will continue to hire-out the facility to local groups and individuals. This report was approved by the Board of Trustees on 27 July 2023 and signed on their behalf by: ## **Chairperson Simon Hicks** Page 3 ## **STATEMENT OF FINANCIAL ACTIVITIES (incorporating income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2023** ||**Note**||| |---|---|---|---| |||**Total**|**Total**| |||**funds**|**funds**| |||**2022/23**|**2021/22**| |**INCOMING RESOURCES**||**£**|**£**| |Income from the hire of facilities|**2**|44,405|45,882| |Grant income (Covid)||0|0| |Interest earned||516|50| |**TOTAL INCOMING RESOURCES**||**44,921**|**45,932**| |**RESOURCES EXPENDED**|**3**||| |Running Costs||36,214|27,217| |Management Fee||16,200|16,200| |**TOTAL RESOURCES EXPENDED**||**52,414**|**43,417**| |**NET INCOME / (EXPENDITURE)**||**(7,493)**|**2,515**| |**TOTAL FUNDS AT 1 APRIL 2022**||**87,852**|**85,337**| |**TOTAL FUNDS AT 31 MARCH 2023**||**80,359**|**87,852**| |All funds are unrestricted|||| The notes on pages 6 to 7 form part of these financial statements. Page 4 **BALANCE SHEET AS AT 31 MARCH 2023** |||**2022/23**|**2021/22**| |---|---|---|---| |**CURRENT ASSETS**|||| |Debtors & prepayments|4|36,411|624| |Cash at bank||86,093|127,835| |**Total Current Assets**||**122,504**|**128,459**| |Creditors: amounts falling within 1 year||3,617|738| |Accruals and Advance income|5|36,617|2,000| |Inter Liability (net) – BHTC||1,911|37,869| |**Total Current Liabilities**||**42,145**|**40,607**| |**NET CURRENT ASSETS**||**80,359**|**87,852**| |**TOTAL NET ASSETS**||**80,359**|**87,852**| |**CHARITY FUNDS**|||| |General Funds|6|24,574|32,067| |Designated Funds|6|55,785|55,785| |**TOTAL FUNDS**||**80,359**|**87,852**| These financial statements were approved by the Board of Trustees on 27 July 2023 and signed on their behalf by: ## **Chairperson Simon Hicks** **Graham Fairbairn, Finance Manager** Page 5 **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. ACCOUNTING POLICIES** ## **1.1 Basis of preparation of financial statements** The financial statements have been prepared under the historical cost convention, with the exception of investments (if applicable) which are included at market value, and in accordance with the Financial Reporting Standard (section 1A of FRS 102). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards. ## **1.2 Fund accounting** _General funds_ are unrestricted funds which are available for use at the discretion of the Board of Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. _Designated funds_ are unrestricted funds which have been set aside by the Board of Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. To change the purpose for which a designated fund has been set-up, must be approved by the Board of Trustees. _Restricted funds_ (if applicable) are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses, if identifiable, are allocated to the appropriate fund. ## **1.3 Incoming resources** All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in kind donated for distribution (if any) are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale (if any) are included as income when they are sold. ## **1.4 Resources expended** All expenditure is accounted for on an accruals basis. ## **1.5 Tangible fixed assets and depreciation** There are no tangible fixed assets or depreciation. ## **1.6 Staff and Trustees’ costs** There are no staff or Trustees’ costs. ## **1.7 Pension Commitments** There are no pension commitments. Page 6 |**2.**|**INCOMING RESOURCES**|**2022/23**|**2021/22**| |---|---|---|---| |||**£**
|**£**| ||Ad-hoc hirers|2,617|1,960| ||Regular hirers|41,788|43,922| ||**Total income**|**44,405**|**45,882**| |**3.**|**RESOURCES EXPENDED**||| ||Cleaning|9,842|8,910| ||Electric|2,329|1,820| ||Gas|5,212|2,971| ||Insurance|929|912| ||Maintenance/Repairs/Renewals|15,327|10,238| ||Management Charge|16,200|16,200| ||Planting|600|600| ||Security|1,034|502| ||Waste Management|145|15| ||Water/Sewage|366|1,106| ||Other costs less than £1,000|530|143| ||**Total Resources Expended**|**52,414**|**43,417**| |**4.**|**DEBTORS**||| ||Prepayments|804|574| ||Sales Ledger|35,607|0| ||Accrued Income|0|50| ||**Total Debtors**|**36,411**|**624**| |**5.**|**ACCRUALS AND ADVANCE INCOME**||| ||Accruals|727|1,236| ||Advance Income|35,890|764| ||**Total Accruals and Advance Income**|**36,617**|**2,000**| |**6.**|**CHARITY FUNDS**||| ||**General Funds**||| ||Funds B/Fwd 01/04/2022|32,067|30,809| ||Incoming Resources|(7,493)|2,515| ||Transfers out|0|1,257| ||**Total General Funds 31/03/2023**|**24,574**|**32,067**| ||**Designated Funds**||| ||**_a.Sinking Fund_**
Funds B/Fwd 01/04/2022|55,785|54,528| ||Transfers in|0|1,257| ||**Total Sinking Fund 31/03/2023**|**55,785**|**55,785**| ||**Total Charity Funds as at 31/03/2023**|**80,359**
|**85,852**| Page 7 I report to the trustees on my examination ofthe ￿coUrrtS of the West Centre Charity lthe Charity) for the year ended 31° March 2023. R•4xctsv• v•*pon*lbllltlM ol tru*t••s and •x*mln•r drt i8 ncA wured for this year uThJer 144121 of Ihe ch￿ 2011 lthe 2011 Act) that an examine the x(wits uThler Sect￿ 145 d *)e Chall￿9 kt 2011 145(Sllbl ol Ihe 2011 Act Bag19 ol Ind•p•rMl•nt •xarnln•rfs r•port My ex*nw)ation brds Cam￿ ¢xrt In xcc*darte ¥thrth the gen￿&1 Di￿OnS gNen by the Charlty CommlssKffi. An exarr1nat￿n I￿ludeS a reviv* accwrting Tecord5 kept by Ihe charty aTrJ a C{￿npar￿￿ cl Ihe xccwJnts esented wth Ihjse r￿OrdS. tt 480 i￿JeS C(fflsthraI￿ cl ary ￿L￿al rteff￿ cff d￿dosUre9 In the accounts. seekn'rg exFIana￿)ns frcffj you a5 tnjstees ccrfremry 5uth mattw5. uTrJertaken do nol PrO￿le l the ev•JerKe that wouhj be lewi￿￿ in an a￿JIt no cy'nKffj ts given as io *thetheT ts ￿coU￿L8 FYe8ent a 1rue aThJ fr•'r view. aThJ ts repxxl is limiled to tIKJ5e mJtl•s Set in ts rwjxl sta1wn￿L knd•p•rbd•nt •x*nin•r'¥ st¥t•m•nt In c￿nect￿)n wth my examinatson. rKJ malier cfjme to my #ttent*m" 121 lo In my atterfTh SI￿￿j te ￿￿TIO a propw undwstarKkng of Mark Mulbwry BA (H￿9) FCCA CTA Mult￿£ Co Eastgaie H￿se Dogfft￿ Way Famham Surrey. GU8 7UD Page 8