HARWICH CULTURAL & COMMUNITY PROJECTS Registered Number: 06863734 Charity Number: 1133420 UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
HARWICH CULTURAL & COMMUNITY PROJECTS IA company limited by guarantee) CONTENTS Page Reference and administrative details of the charity and its trustee5 Trustees, report Statement of financial activities Balance sheet Notes to financial Statements Appendlces Appendix I: Independent Examinerfs Report 20 Page I
HARWICH CULTURAL & COMMUNITY PROJECT5 IA company limited by guaranteel REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Anthony J Elliston, Chair Beverley Heard Philip Nicho150n Sarah Nicholson Yuliia Haylett Jean Curtl5 Oksana Tye Jason Ayrton Eleanor Brown Clair Coe Jen Jones IResigned l-l(k20231 (Resigned 25-8-20231 (Appointed I" November 20231 (Appointed I" November 20231 IAppointed I" November 2023. Resigned IO, February 202411 (Appointed 12, December 20231 (Appointed I" November 20231 (Appointed l November 20231 Company Registered Number 06863734 Charity Registered Number 1133420 Registered Office Harwlch Cultural & Community Projects "Harwich Space" Stour Road Harwich Essex C012 3HF Page 2
HARWICH CULTURAL & COMMUNITY PROJEcrs IA company limited by guarantee) TRUSTEES, REPORT FOR YEAR ENDED 31 MARCH 2024 The Trustees present their annual port together with the financial statements of the company for the year l April 2023 to 31 March 2024. 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 provlsions of the Statement of Recommended Practice ISORPI, applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 2015) as amended by Update Bulletin I (effective l January 20151. Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 Istfategic Report and Director's Report) Regulation5 2013 is not required. Objertives and Artlvities Policies and objectives as amended August 2022 to develop and operate a cultural community and training facility. to strive to provide worthwhile employment training and volunteering opportunities in areas of deprivation. to promote specialist personal developmenl opportunilies that may lead to full time employment. For example, wooden boat building, spinning and consetvation of museum artifacts. to maintain, display and preserve collects.ons held in trust by the charity. (The Hazelton Collection. MaWlower artifacts and historic tools.) lo support individual volunleer's and groups, in membership of the charity, to provide aid and help lo meet the basic needs of people in the UK and beyond. o to provide a meeting pla for all that is safe, non-judgmental, and inclusive. to provide and promote exhibitions and other events to build the cultural capital of HaThvlch. Review of Activities Key achlevements of the periods were-. Completin8 the lease Network Rail Opening a Community Café with Food for Thought Offering space and resources to local charities. North Essex Support Team Harwich Hive, Essex Probation Team and TEECH. CollectinE, sorting, packing and delivering aid to Ukraine. The Continued cataloguing and curating of The Hazelton Collection by individuals in preparation for public display. A porta cabin has been fitted our as a permanent home. A review of charitable objectives and a re- priorltisation of work. An enlarged and diverse Board has been recruited In Partnership with two charities, TEECH and UK-Aid to maintain a High street Aid collection point and shop, Organising concerts to support Ukraine Projects A partnership with Simple Van Hire Page 3
HARWICH CULTURAL & COMMUNITY PROJEcrs IA company limited by 8tJaranteel Charity Governance Twstees met six time during the year. Financial review Going Concem 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. ReseNes Policy ReseNes 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 secure and maintain reserve5 amounting to six months expenditure which amounts to approximately £18,000 in a normal year. As all our public Ifundraisingl ceased because of the pandemic reserves have been used to ensure the charity sutvived the pandemic. However, the Trustees are confident that they will be able to meet this goal. The unrestricted reserves carried forward to 2023/24 were £72172. Structure, Governance and Management 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 20181 The company is constituted under a Memorandum of Association dated 30 March 2009 and is a registered charity number 1133420. Method of Appointment or Election of Trustees The management of the company is responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. 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. Trustees, Indemr>ities A Direttors (Jnd Officers Liability insurance is in place. Members, Liability Page 4
HARWICH CULTURAL & COMMUNITY PROJEcrs IA company limited by guarantee) The Members of the company guarantee to contribute an amount not exceeding EIO to the assets of the Charity in the event of winding up. This report was approved by the Trustees on ......-...... ILtr. ........ and signed on their behalf by.. Signature: A J Elliston (Chairl Page 5
HARWICH CULTURAL & COMMUNITY PROJECTS IA company limited by guaranteel STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR YEAR ENDED 31 MARCH 2024 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Note Income from: Donations and grants Other trading Activities: Fundraising Trading Activitles 7477 1429 8906 24020 2647 2647 32521 32521 25208 Total Income 39998 4076 44074 49228 Expenditure on.. Charitable Activities- 52299 4581 56880 39160 Total Expenditure 52299 4581 56880 39160 Net Income Transfer between funds Net incomellexpenditurel before other recognised gains & losses -12301 -505 -12806 10068 16 -12301 -505 -12806 13121 Other Gains & Losses 162 162 Net movement in funds -12139 -505 -12644 13121 Reconciliation of funds.. Total funds brought forward 16 71185 987 72172 59051 Total funds carried forward 59046 482 59528 72172 The notes on pages 8 to 18 form part of these financial statements. Page 6
HARWICH CULTURAL & COMMUNITY PROJECTS IA company limited by guaranteel BALANCE SHEET AS AT MARCH 2024 2024 2023 Note Fixed Assets Tangible Assets Heritage Assets Non-Tangible Assets 12 13 13786 51275 1650 20750 51275 1650 66711 73675 Current Assets Debtors Cash at bank and in hand 14 16285 1706 17991 13531 609 14140 Creditors.. amounts falling within one year 15 -16160 -6629 Net current liabilities 1830 7511 Creditors: amounts falling after one year 15 -9014 -9014 -9014 -9014 Net assets 59528 72172 Charity Funds Restricted fLtnds Unrestricted funds Total Funds 16 16 482 59046 987 71185 72172 59528 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 20061"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 IA company limited by guarantee) Accounting Policies Basis of preparation of financial statements The financial statements have been prepared in accordance WFth 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 IFRS 1021 (effective l January 20151- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2(M)6. 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. Company status The company Is a company limited by guarantee. The members of the company are the Trustees named on page l. In the event of the company being wound up, the liability in respect of the guarantee is Ilmited to £10 per member of the cornpany. Going concern The Trustees consider the Charitable company to be a going concern for the nexl 12 months and the foreseeable future. After securing 3 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. 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 executorlsl 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 executorfs intention to make 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 klnd 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 c05t. No amounts are included in the financial statements for services donated by volunteers. Income tax recoverable in latiOn to donation5 received under Gift Aid or deed5 of covenant is retognised at the time of donation. Page 8
HARWICH CULTURAL & COMMUNITY PROJECTS IA company limited by guarantee) Income tax recoverable in relation to investment income is recognised at the time the investment Income is receivable. 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 cost5 are allocated on the basi5 of time spent, and depreciation charges Ilocated 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 projett 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 artivities 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. 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. Tangible fixed assets and depreciation All assets costing more than £500 are capitalised. Heritage assets includes= 11 a 118 scale replica of the Mayflower ship. 21 The artrfacts 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 carryin8 value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverèble amounts are recogn15ed as impairments. Impairment105ses are recognised in the Statement of Financial Activities Incorporating Income and Expenditure Account. Tangible fixed assets are carried at cost, net of depreciètion 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 Improvementsto property Plant & machinery IO% on cost IO% on cost 20% on cost Page 9
HARWICH CULTURAL & COMMUNITY PROJECTS IA company limsted by guarantee) Fixtures & fittings Computerequipment 20% On cost 33.3% reducing balance / 20% on cost Interest receivable 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 bythe Bank. 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 purthase 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 chaige 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. 1.12 Cash at Bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity o* three months or le55 from the date of acquisition or opening of the deposit or similar account. 1.13 Liabilities and provisions Liabilitles are recognised when there is an obligation at the Balance Sheet date as a result of past event, It is probable that a tr3nsfer 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 8oods 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 I 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 PROJEcrs IA company limited by guarantee) received with categories covere¢J by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gain5 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. Restrirted 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 statement5. Income from Donations and Legacies Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Donations Legacy Donations Charity Shop Donations Grants 7377 1229 8606 13120 ioooo 200 200 loo loo 900 Total donations & grants 7477 1429 8906 24020 Page 11
HARWICH CULTURAL & COMMUNITY PROJEcrs IA company limited by guarantee) Fundraising Income Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Special Projects Ukraine Trips Events Fundraising income 140 1117 1390 2647 140 1117 1390 2647 Fundraising expenses 705 705 705 705 Net lexpenditurel/income from fundraising activities 1943 1943 Analysis of Expenditure on Charitable Activities Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Charlty trading income Charity Shop Lottery Machine Scheme Harwich Space, Charity Partner Usage Membership Subscriptions Provision of utllltles & Services 18816 18816 8502 16706 1795 11910 1795 11910 32521 32521 25208 Trading expenses Trading expenses 9689 9689 9689 150 9689 150 Net lexpenditurel/income from trading activities 22833 22833 25058 Page 12
HARWICH CULTURAL & COMMUNITY PROJECTS IA company limited by guarantee) Analysi5 of Expenditure on Charitable Activities Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Fundraising Expenses Trading Expenses HCCP Support Costs Direct Costs All activities 705 705 9689 42611 3876 56880 9689 42611 3876 52299 4581 39010* Comblned Expenses Direct C05tS Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Museum IHazeldon Collection) Provision of Aid to Ukraine 3876 3876 7782 3876 3876 7782 Page 13
HARWICH CULTURAL & COMMUNITY PROJEcrs IA company limitefl by guaranteel Support Costs Charity shop Total 2024 Total 2023 HCCP Advertising Bad and doubtful debts Bank charges Cleaning CompLtter running costs Insurance Finance Costs Legal and profe55ional fees Light and heat 204 204 949 181 181 15 678 1091 161 io 2094 310 15 678 1091 6305 163 539 430 6844 593 2493 2541 50 329 1660 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 334 1140 334 1521 381 -3018 6732 10817 1863 529 7260 10817 8914 1260 10767 3115 7051 loo 715 1198 3282 407 507 715 1198 3282 182 592 114 7611 153 7764 7531 199 42611 185 384 52299 91 Total Expenses 9689 31228 Page 14
HARWICFI CULTURAL & COMMUNITY PROJEcrs IA company limited by guarantee An31ysis of Expendlture by Expenditure Type Staff costs 2024 Depreciation 2024 Other Costs 2024 Total 2024 Expenditure on fundraising trading 9689 9689 Costs of raising funds 9689 9689 All activities 11150 7763 37966 56880 11150 7763 47655 66569 Turnover All turnover arose within the United Kingdom io. Net IncomelExpenditure This is stated after charging: 2024 2023 Depreciation of tangible fixed assets: owned by the charity 7764 7531 During the year, no Trustees received any remuneration12022 £NILI. During the year. no Trustees received any benefits in kind12022 £NILI. ii. Staff Costs Staff costs were as follows: 2024 2023 Wages and salaries Social security costs Other pension costs 10817 10767 50 329 334 11150 11146 The average number of persons employed by the company during the year was as follows.. 2024 2023 No. No. No employee received renumeration amounting to more than £60,0(KJ in either year. Page 15
HARWICH CULTURAL & COMMUNITY PROJEcrs IA company limited by guarantee) 12. Tangible Fixed Assets Heritage Centre (Freehol Heritage Assets (Leasehol Plant & Machiner Fixtures Computer Equipmen Property Storage Containe Additions Fittings Total Cost At l Aprll 2023 Additions Disposals 10028 52890 22423 5718 11484 396 7774 8(K) 1196 At 31 March 2024 10148 52890 22423 5718 11880 7774 800 Depreciation At l April 2023 Charge for the year On disposals At 31 March 2024 37023 17937 5718 11484 7774 79936 5289 2242 152 80 7763 42312 20179 5718 11636 7774 87699 Net book value At 31 March 2024 10578 2244 244 720 13786 At l April 2023 15867 4486 20353 Page 16
HARWICH CULTURAL & COMMUNITY PROJECTS IA company limited by gijarantee 13. Herltage Assets Hazelton Museum Artifacts Mayflower Scale Model Marine Antiqltes Total Cost At l April 2023 Additions Revaluation Disposals At 31 March 2024 29775 18000 3500 21500 29775 18000 35 51275 At 31 March 2023 29775 18000 3500 51275 14. Debtors 2024 2023 Trade debtors Other Debtors Prepayments & accrued income Tax recoverable 11693 10291 227 3013 4592 16285 13531 15. Creditors Creditors: Amounts falling due within one year 2024 2023 Trade creditors Other Taxation and social security Other creditors Accruals and deferred income 7289 6593 8871 36 16160 6629 Creditors: Amounts falling due after one year 2024 2024 Directors loans 9014 9014 9014 9014 Page 17
HARWICH CULTURAL & COMMUNITY PROJEcrs IA company limited by guarantee) 16. ststement of Funds Transfer Gains and Balance at l April 2023 Balance at 31 March 2024 Incom Expenditur Inlout losses Unrestricted funds General Funds all funds 71185 39998 -52299 162 59046 Restricted Funds Restricted Funds all funds 987 4076 -4581 482 Total of funds 72172 44074 -56880 162 59528 Statement of funds - prior year Transfer Gains and Balance at l April 2022 Balance at 31 March 2023 Incom Expenditur Inlout losses General funds Restricted funds General funds all funds 58477 37825 11403 49228 -28170 -10990 -39160 3053 71185 987 72172 574 59051 3053 Summary offunds- current year Transfer Gains and Balance at l April 2023 Balance at 31 March 2024 Incom Expenditur In/out losses General funds Restricted funds 71185 987 39998 4076 -52299 -4581 -56880 162 59046 482 72172 44074 162 59528 Page 18
HARWICH CULTURAL & COMMUNITY PROJECTS IA company limited by guarantee) 17. Analysis of Net A55ets between Funds Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year Creditors due after one year 13786 13786 -16160 -9014 -11388 -16160 -9014 -11388 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 PROJEcrs IA company limited by guarantee) APPENDICES Appendix I: Independent Examinerfs Report Page 20
APPENDICES Appendix I: Independent Examinels Report Recommendations Trustees should consider ways to rebuild the charity- s reserves. 2025 will mark 3 years since the Covid 19 pandemic and the resultant lockdown. The charity should consider a full financial and systems audit at the 24125 year end.