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2023-03-31-accounts

HARWICH CULTURAL & COMMUNITY PROJECTS Registered Number: 06863734 Charity Number: 1133420

UNAUDITED

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

(A company limited by guarantee)

HARWICH CULTURAL & COMMUNITY PROJECTS

CONTENTS

Page
Reference and administrative details of the charity and its trustees 2
Trustees’ report 3
Statement of financial activities 6
Balance sheet 7
Notes to financial statements 8
Appendices
Appendix 1: Independent Examiner’s Report 20

Page 1

HARWICH CULTURAL & COMMUNITY PROJECTS

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees

Anthony J Elliston, Chair Philip Bull (Resigned 20/7/2022) Jayden P Thomas (Resigned 25/8/2022) Beverley Heard (Appointed 20-7-2022) Philip Nicholson (Appointed 25-8-2022) Sarah Nicholson (Appointed 25-8-2022)

Company Registered Number

06863734

Charity Registered Number

1133420

Registered Office

Harwich Cultural & Community Projects “Harwich Space” George Street Harwich Essex CO12 3ND

Page 2

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

TRUSTEES’ REPORT FOR YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the financial statements of the company for the year 1 April 2022 to 31 March 2023.

The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

Objectives and Activities

The Objects of the Charity, as set out in foundation documents, is to build a shore-based replica of the Mayflower in the style of the 1620 original, to contribute to the National Mayflower 400 Initiative (2020) to establish and maintain a Rail & Shipping Heritage collection and other historic and cultural collections for the benefit of the public and to advance the education and skills of the public.

This report is written as the country recovers from n lockdown due to the COVID 19 pandemic. Our staff were furloughed, and all planned activities are cancelled. However, the year to 31st March 2023 was used productively as Trustees and Members continued to considered how to re-focus the charity as the Mayflower commemoration year had passed.

Review of Activities

Key achievements of the periods were:

Page 3

HARWICH CULTURAL & COMMUNITY PROJECTS

(A company limited by guarantee)

Charity Governance

Trustees met virtually during Covid 19 pandemic. Two Trustees were shielding as they / their families were particularly at risk. Once lockdown ended Trustees were able to review policies and consider projects for development. A recruitment process to appoint new Trustees was initiated. The Charity requested an audit / health check by the Chair the Charity Commission and a helpful action plan was provided which the Trustees worked through creating new procedures and ways of working. This work continues.

Financial review

a. Going Concern

The Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

b. Reserves Policy

Reserves are required to bridge the gap between the spending and receiving of income and to cover for unforeseen expenditure.

It remains the Trustees policy to maintain reserves amounting to six months expenditure which amounts to approximately £18,000 in a normal year. As all our public (fundraising) ceased because of the pandemic reserves have been used to ensure the charity survived the pandemic. However, the Trustees are confident that they will be able to meet this goal. The unrestricted reserves carried forward to 2022/23 were £58,477 . In accordance with a Trustees resolution (February 2023) up to £4000 of the reserve will be set aside against any legitimate historic claim.

Structure, Governance and Management

a. Constitution

The company is registered as a charitable company limited by guarantee and was set up by Memorandum of Association on 30 March 2009. (Amended 2018)

The company is constituted under a Memorandum of Association dated 30 March 2009 and is a registered charity number 1133420.

b.

The management of the company is responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

c. Organisational Structure and Decision Making

The Trustees take an active role in the day-to-day operation of the Charity. Overall management responsibility resides with the Chair. The Charity employs a part-time Office Manager.

d. Trustees’ Indemnities

During the year a Directors and Officers Liability insurance was paid. The amount was £225.

Page 4

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

Members’ Liability

The Members of the company guarantee to contribute an amount not exceeding £10 to the assets of the Charity in the event of winding up.

This report was approved by the Trustees on ………………………………………… and signed on their behalf by:

Signature: ...................................................... A J Elliston (Chair)

Page 5

(A company limited by guarantee)

HARWICH CULTURAL & COMMUNITY PROJECTS

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR YEAR ENDED 31 MARCH 2023

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
£ £ £ £
Note
Income from:
Donations and grants 2 12617 11403 24020 19750
Other trading Activities:
Fundraising 3 0 0 0 0
Trading Activities 4 25208 0 25208 7735
Total Income 37825 11403 49228 27485
Expenditure on:
Raising funds:
Fundraising & trading 4 150 0 150 180
Charitable activities 5 28020 10990 39010 30284
Total Expenditure 8 28170 10990 39160 30464
Net Income 9655 413 10068 -2979
Transfer between funds 16 3053 0 0 0
Net income/(expenditure) before
other recognised gains & losses 12708 413 13121 -2979
Other Gains & Losses 0 0 0 50533
Net movement in funds 12708 413 13121 47554
Reconciliation of funds:
Total funds brought forward 16 58477 574 59051 11496
Total funds carried forward 71185 987 72172 59051

The notes on pages 8 to 18 form part of these financial statements.

Page 6

(A company limited by guarantee)

HARWICH CULTURAL & COMMUNITY PROJECTS

BALANCE SHEET AS AT MARCH 2023

Note
Fixed Assets
Tangible Assets
12
Heritage Assets
13
Non-Tangible Assets
Current Assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling within one year
15
Net current liabilities
Creditors: amounts falling after one year
15
Net assets
Charity Funds
Restricted funds
16
Unrestricted funds
16
Total Funds		 2023
£
20750
51275
1650
13531
609		 £ 2022
£
35415
47775
0
9280
4109		 £
73675
7511
-9014		 83190
-17086
-6834
14140
-6629		 13389
-30475
-9014 -6834
72172 59271
987
71185		 574
59050
72172 59624

The Company's financial statements have been prepared in accordance with the provisions applicable to the companies subject to the Small Companies Regime.

The Trustees consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf, by:

Signature: ...................................................... A J Elliston (Chair)

The notes on pages 8 to 18 form part of these financial statements.

Page 7

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

1. Accounting Policies

The financial statements have been prepared in accordance with 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 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Harwich Cultural & Community Projects Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

The Trustees consider the Charitable company to be a going concern for the next 12 months and the foreseeable future. After securing a 20 year lease with Network Rail the Trustees are confident that they will be able to fulfil their future business strategy and attract more funding to support the aims of the Charity.

1.4 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified by the executor’s intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are sold. Donated facilities are included at value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of donation.

Page 8

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the company’s operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

1.6 Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.7 Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

Heritage assets includes: 1) a 1/8 scale replica of the Mayflower ship. 2) The artifacts that comprise the Hazelton Collection being prepared for display to the public. These assets are included at cost in the accounts.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities Incorporating Income and Expenditure Account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold Property 10% on cost
Improvements to property 10% on cost
Plant & machinery 20% on cost

Page 9

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

Fixtures & fittings 20% on cost Computer equipment 33.3% reducing balance / 20% on cost

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normal upon notification of the interest of the interest paid or payable by the Bank.

1.9 Leasing and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Financial Activities Incorporating Income and Expenditure Account so as to produce a constant periodic rate of charge on the net obligation outstanding in each month.

1.10 Operating leases

Rentals under operating leases are charged to the Statement of Financial Activities Incorporating Income and Expenditure Account on a straight-line basis over the lease term.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payment s for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.14 Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains

Page 10

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

received with categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.15 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

1.16 Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs 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.

2. Income from Donations and Legacies

Donations
Legacy Donations
Grants (Council Grant)
Total donations & grants
3.
Fundraising Income
Fundraising income		 Unrestricted
funds
2023
£
6717
5000
900
12617
Unrestricted
funds
2023
£
0		 Restricted
funds
2023
£
6403
5000
0
11403
Restricted
funds
2023
£
0		 Total
funds
2023
£
13120
10000
900
24020
Total
funds
2023
£
0		 Total
funds
2022
£
2757
0
16993
19750
Total
funds
2022
£
0

Page 11

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

4. Analysis of Expenditure on Charitable Activities

Unrestricted Restricted Total Total
funds funds funds funds
2023 2023 2023 2022
£ £ £ £
Charity trading income
Charity Shop 8502 0 8502 0
Lottery Machine Scheme 16706 0 16706 1071
Harwich Space' Charity Partner
Usage 0 0 0 6664
Membership Subscriptions 0 0 0 0
Provision of Utilities & Services 0 0 0 0
25208 0 25208 7735
Fundraising & trading expenses
Trading expenses 0 0 0 0
Fundraising expenses 150 0 150 180
150 0 150 180
Net (expenditure)/income from
trading activities 25058 0 25058 7555
5.
Analysis of Expenditure on		 Charitable Activities
Unrestricted Restricted Total Total
funds funds funds funds
2023 2023 2023 2022
£ £ £ £
All activities 28020 10990 39010 30284
6.
Direct Costs
Unrestricted Restricted Total Total
funds funds funds funds
2023 2023 2023 2022
£ £ £ £
Museum (Hazeldon Collection) 0 0 0 43
Provision of Aid to Ukraine 0 7782 7782 0
0 7782 7782 43

Page 12

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

7. Support Costs

.
Support Costs
Advertising
Bad and doubtful debts
Bank charges
Cleaning
Computer running costs
Insurance
Finance Costs
Legal and professional fees
Light and heat
NI
Pension Contributions
Printing, postage & stationery
Credit charges
Refund of Other Expenses
Equipment leasing
Office expenses, repairs &
maintenance
Office Payroll
Rent & Rates
Subscriptions
Sundry Expenses
Telephone
Travelling expenses
Waste Disposal
Profit and loss on disposal of assets
Depreciation
Sundry Income
Rounding
Water
Total Expenses		 Charitable
activities
and
fundraising
£
949
0
161
10
2094
310
0
2493
2541
50
329
1660
0
-3018
0
1260
10767
3115
0
182
592
114
-3
0
7531
0
0
91
31228		 Total
2023
£
949
0
161
10
2094
310
0
2493
2541
50
329
1660
0
-3018
0
1260
10767
3115
0
182
592
114
-3
0
7531
0
0
91
31228		 Total
2022
£
0
0
83
0
1988
353
174
1939
1743
83
277
0
0
0
0
2323
9951
0
40
0
645
0
1342
-142
8475
-375
1
352
29253

Page 13

HARWICH CULTURAL & COMMUNITY PROJECTS

(A company limited by guarantee)

8. Analysis of Expenditure by Expenditure Type

Expenditure on fundraising
trading
Costs of raising funds
All activities		 Staff costs
2023
£
0
0
11146
11146		 Depreciation
2023
£
0
0
7531
7531		 Other
Costs
2023
£
150
150
20333
20483		 Total
2023
£
150
150
39010
39160		 Total
2022
£
180
180
29253
29403

9. Turnover

All turnover arose within the United Kingdom

10. Net Income/Expenditure

This is stated after charging:
2023 2022
£
Depreciation of tangible fixed assets:
owned by the charity 7531 7531
During the year, no Trustees received any remuneration (2022 - £NIL).
During the year, no Trustees received any benefits in kind (2022 - £NIL).

11. Staff Costs

Staff costs were as follows:

2023 2022
£ £
Wages and salaries 10767 9958
Social security costs 50 75
Other pension costs 329 277
11146 10311
The average number of persons employed by the company during the year was as follows:
2023 2022
No. No.
1 1

No employee received renumeration amounting to more than £60,000 in either year.

Page 14

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

12. Tangible Fixed Assets

Cost
At 1 April 2022
Additions
Disposals
At 31 March
2023
Depreciation
At 1 April 2022
Charge for the
year
On disposals
At 31 March
2023
Net book value
At 31 March
2023
At 1 April 2022		 Heritage
Centre
(Freehold
Property)
£
52890
0
0
52890
31734
5289
37023
15867
21156		 Heritage
Assets
(Leasehold
Additions)
£
22423
0
0
22423
15695
2242
17937
4486
6728		 Plant &
Machinery
£
5718
0
0
5718
5718
0
5718
0
0		 Fixtures
& Fittings
£
11484
397
0
11880
11484
0
11484
396
0		 Computer
Equipment
£
7774
0
0
7774
7774
0
7774
0
0		 Total
£
100289
397
0
100686
73349
7531
79936
20750
27884

Page 15

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

13. Heritage Assets

Cost
At 1 April 2022
Additions
Revaluation
Disposals
At 31 March 2023
At 31 March 2022
14.
Debtors
Trade debtors
Other Debtors
Prepayments & accrued income
Tax recoverable		 Hazelton
Mayflower
Museum
Scale
Marine
Artifacts
Model
Antiques
£
£
£
29775
18000
3500
0
0
0
0
0
0
0
0
0
29775
18000
3500
29775
18000
47775
2023
2022
£
£
10291
11089
0
0
227
604
3013
3029
13531
14721		 Total
£
21500
0
0
0
51275
65775

Page 16

HARWICH CULTURAL & COMMUNITY PROJECTS

(A company limited by guarantee)

15. Creditors

Creditors: Amounts falling due within one year

Trade creditors
Other Taxation and social security
Other creditors
Accruals and deferred income		 2023
£
6593
0
0
36
6629		 2022
£
28071
0
0
0
28071

Creditors: Amounts falling due after one year

Directors loans 2023
£
9014
9014		 2022
£
9014
9014

Page 17

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

16. Statement of Funds

Balance
at
1 April
2022
£
Unrestricted funds
General Funds - all funds
58477
Restricted Funds
Restricted Funds - all funds
574
Total of funds
59051
Statement of funds - prior year
Balance
at
1 April
2021
£
General funds
11496
Restricted funds
0
General funds - all funds
11496
Summary of funds - current year
Balance
at
1 April
2022
£
General funds
58477
Restricted funds
574
59051		 Income
£
37825
11403
49228
Income
£
26698
787
27485
Income
£
37825
11403
49228		 Expenditure
£
-28170
-10990
-39160
Expenditure
£
-30250
-213
-30463
Expenditure
£
-28170
-10990
-39160		 Transfers
In/out
£
3053
0
3053
Transfers
In/out
£
0
0
0
Transfers
In/out
£
3053
0
3053		 Gains
and
losses
£
0
0
0
Gains
and
losses
£
50533
0
50533
Gains
and
losses
£
0
0
0		 Balance
at
31
March
2023
£
71185
987
72172
Balance
at
31
March
2022
£
58477
574
59050
Balance
at
31
March
2023
£
71185
987
72172

17. Analysis of Net Assets between Funds

Unrestricted Restricted Total
funds funds funds
2023 2023 2023
£ £ £
Tangible fixed assets 20750 0 20750
Current assets 11127 0 11127
Creditors due within one year -6629 0 -6629
Creditors due after one year -9014 0 -9014
16234 0 16234

Page 18

HARWICH CULTURAL & COMMUNITY PROJECTS (A company limited by guarantee)

18. Members’ Liability

Each member of the Charitable Company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.

Page 19

HARWICH CULTURAL & COMMUNITY PROJECTS

(A company limited by guarantee)

APPENDICES

Appendix 1: Independent Examiner’s Report

Page 20