The Mount Pleasant Centre Charity No. 1135873 Company No. 06136043 Trustees, Report and Unaudited Accounts 31 March 2024 The Mount Pleasant Centre Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities 2to4 Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts IOto14 Detailed Statement of Financial Activities 15to16 Page I The Mount Pleasant Centre Trustees Annual Report The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINisfRATIVE DETAILS Company No. 06136043 Charity No. 1135873 Registered Office la Mount Pleasant Bradford On Avon Wiltshire BA15 ISJ Directors and Trustees The Dirertors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: S. Blackwell J.W. Brockbank J.A. Hazell A.B. Keatin8 N.S. Rapson M. Roberts D.N.J. Robins K. Vigar N. Wearing Accountants Davey Accounting Services 11 Abrahams Close Trowbridge Wiltshire BA14 OND OBJECTIVES AND A￿1VITIEs Objectives and aims l. To advance education and to provide facilities in the interest welfare for recreation and leisure time occupation with the object of improving the conditions of life for the inhabitants of Bradford on Avon and the neighbourhood. 2. To maintain and manage the Mount Pleasant Centre {Whether in co-operation with any local authority or other person or body) in furtherance of these objectives. 3. To promote such other charitable purposes for the inhabitants of Bradford on Avon and the neighbourhood as the Trustees may from time to time determine. Page 2 The Mount Pleasant Centre Trustees Annual Report Public Benefit The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. Maintaining the Centre on the higher side of the town offer5 the potential for further enrichment activities close to one of the Primary Schools and the main Secondary School population. ACHIEVEMENTS AND PERFORMANCE The two offices, on the first floor of the building, are occupied by the same tenants as the last financial year. The hiring of the rooms, in the Centre, are at an all time high. For example, one week in March, 2024, these were hired out for 50 hours which is unheard of. Some of the regular clients, of the Centre, have made bookings in advance and well into 2025. One of the Centre's Clients, a Community Church, has booked 3 hours on one Sunday Evening in every month which is an unusual booking. The level of bookings, on occasions, reaches saturation point this means that prospective Client are offered alternate bookings which they usually accept. The Trustees carry out their duties in an exemplary manner which makes the Chairman a very proud person. TRUSTEES. The Rev. Ann Keating retired as the Rector of Christ Church in May 2024 and moved to another town and we thank her for being a Trustee and representing Christ Church. FINANCIAL REVIEW Reserves policy The Trustees maintain reserves at a level they consider appropriately. The charity receives rent for the two offices upstairs in the centre building and from the Social club. which occupies a separate building on the site. In addition the Charity receives income from local residents parking their cars on the site and Room Hire Rate. In February the hourly hire rate was increased from £ 13, to £ 14, per hour to cover the cost of the increase in costs of maintaining the building. Income from Rent. This includes the rent payable by the Club, the rent from the two offices and the resident parking their cars for which a annual rent is charged. Income. The income of the Centre is made up of the rent and the hiring of the rooms. This total income ensures that all outgoings, Including loan repayments, are met on a regular basis. Due to manganing the finances, the Charity will move into the next financial year with surplus cash resources and no outstanding liabilities other than loan repayments, PLANS FOR FUTURE PERIODS The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the cha rity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps forthe prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP {FRS 1021. Page 3 The Mount Pleasant Centre Trustees Annual Report oeoL• Signed on behalf of the board D.N.J. Robin5 Trustee 31 March 2024 Page 4 The Mount Pleasant Centre Independent Examiners Report Independent Examiner's Report to the trustees of The Mount Pleasant Centre I report to the charity trustees on my examination of the financial statements of The Mount Pleasant Centre forthe year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the company land also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 20111'the 2011 Att'l. In carrying out my examination I have followed the Dirertion5 given by the Charity Commission under section 145151 Ib) of the 2011 Act. Independent examiner's statement I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe". accounting records were not kept in accordance with section 386 of the 2006 Act . or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair, view which is not a matter considered as part of an independent examination. or the financial statements 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 Irela nd IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Michael O'Neill 5 Birch Grove Bowerhill Melksham Wiltshire SN12 6SB 31 March 2024 Page 5 The Mount Pleasant Centre Statement of Financial Activities for the year ended 31 March 2024 Unrestricted funds Total funds Total funds 2024 2024 2023 Notes Income and endowments from.. Charita ble activities Other 43.136 1,412 43.136 1,412 37,729 102 Total 44,548 44,548 37,831 Expenditure on: Charitable activities Other 35,328 6,623 35,328 6,623 14,623 6,786 Total 41,951 41,951 21,409 Net gains on investments Net income 2,597 2,597 16,422 Transfers between funds Net income before other gains/(losses) 2,597 2,597 16,422 Other gains and losses Net movement in funds 2.597 2,597 16,422 Reconciliation of funds: Total funds brought forward 301,812 301,812 285,390 Total funds carried forward 304,409 304,409 301,812 Page 6 The Mount Pleasant Centre Summary Income and Expenditure Account for the year ended 31 March 2024 2024 2023 Income 44,548 37,831 Gross income for the year Expenditure 44,548 37,831 35,328 14,623 Depreciation and charge5 for impairment of fixed assets 6,623 6,786 Total expendlture for the year Net income before tax for the year 41,951 21,409 2,597 16,422 Net Income for the year 2,597 16,422 Page 7 The Mount Pleasant Centre Balance Sheet at 31 March 2024 Company No. 06136043 Notes 2024 2023 Fixed assets Tangible assets Investments io 298,939 247,271 li 298,940 247,272 Current assets Debtors Cash at bank and in hand 12 15,175 25,544 40,719 (35,2501 15,229 39,254 54,483 57 Creditors: Amount falling due within one year Net current assets 13 5,469 54.540 Total assets less current liabilities 304,409 301,812 Net assets excluding penslon asset or Ilablllty 304,409 301,812 Total net assets 304,409 301,812 The funds of the charlty Unrestricted funds General funds 14 304.409 301,812 304,409 301,812 Total funds 304,409 301,812 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 31 March 2024 And signed on its behalf by: D.N.J. Robins Trustee 31 March 2024 Page 8 The Mount Pleasant Centre Statement of Cash flows for the year ended 31 March 2024 2024 2023 Cash flows from operating activities Net income per Statement ot Financial Activities 2,597 16,422 Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Decrease in trade and other receivables Increase/lDecrease) in trade and other payables 6,623 {1.412} 54 6,786 11021 2,447 11,352) 35,306 Net cash provided by operatlng activities 43,168 24,201 Cash flows from investing actlvltles Payments for property, plant and equipment Dividends, interest and rents from investments (58,2911 1,412 12491 102 Net cash used in investing activities 156,8791 11471 Net cash from financing artlvities Net (decreaselllncrease In cash and cash equivalents {13,711} 24,054 Cash and cash equ5valents at the beglnnlng of the year 39,254 16,318 Cash and cash equlvalents at the end of the year 25,543 40,372 Components of cash and cash equivalents Cash and bank balances 25,544 39,254 25,544 39,254 Page 9 The Mount Pleasant Centre Notes to the Accounts for the year ended 31 March 2024 l Accounting policies Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective I January 2015} Icharities SORP IFRS 102)}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 102) and the Companies Act 2006. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accountlng Unrestricted funds can be used in accordance with the charttable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Incoming Resources All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources; it is more likely than not that the trustees will receive the resources; the monetary value can be measured with sufficient reliability. Grants and donations are only included in the SOFA when the general income recognition criteria are met. Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings thev have been allocated to activities on a basis consistent with the use of resources. Taxatlon The charity is exempt from corporation tax on its charitable activities. Tangible fixed assets and depreciation Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.. Freehold property 2% on straight line basis Fixtures and fittings 25% on reducing balance 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. Page 10 The Mount Pleasant Centre Notes to the Accounts 3 Statement of Financial Activities - prior year Unrestricted funds Total funds 2023 2023 Income and endowments from: Charitable activities 37,729 102 37,729 102 Other Total 37,831 37,831 Expenditure on: Charitable activities 14,623 6,786 14,623 6,786 Other Total 21,409 21,409 Net income 16,422 16,422 Net income before other 8ains/(losses) Other gains and losses: Net movement in funds 16,422 16,422 16,422 16,422 Reconciliation of funds: Total funds brought forward Total funds carried forward 285,390 285.390 301,812 301,812 4 Income from charitable actlvltles Unrestricted Total Total 2024 2023 Maintain and manage property 34,636 34,636 29,229 8,500 43,136 8,500 43,136 8,500 37,729 5 Other income Unrestricted Total Total 2024 2023 Rent from Mount Pleasant Club 632 632 102 Grants 780 780 1,412 1,412 102 Page 11 The Mount Pleasant Centre Notes to the Accounts 6 Expenditure on charitable activities Unrestricted Total Total 2024 2023 Expenditure on charitable activities Maintain and manage property Governance costs Bookkeeping and other professional fees 30,909 30,909 11,013 4,419 4,419 3,610 35,328 35,328 14,623 7 Other expendlture Unrestricted Total Total 2024 2023 Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets 6,623 6,623 6,786 6,623 6,623 6,786 8 Net income before transfers 2024 2023 This is stated after charging: Depreciation of owned fixed assets 9 Staff costs No employee received emoluments in excess of £60,000. 6,623 6,786 10 Tangible fixed assets Land and Fixtures and fittings buildings Total Cost or revaluation At l April 2023 Addition5 At 31 March 2024 306,572 58,291 364,863 10,403 316,975 58,291 375,266 10,403 Depreciation and impairment At l April 2023 Depreciation charge for the vear At 31 March 2024 61,268 8,436 69,704 6,131 492 6,623 67,399 8,928 76,327 Net book values At 31 March 2024 At 31 March 2023 297,464 245.304 1,475 1.967 298,939 247,271 Page 12 The Mount Pleasant Centre Notes to the Accounts 11 Investments Other investments Listed Total Cost or revaluation At l April 2023 At 31 March 2024 Net book values At 31 March 2024 At 31 March 2023 12 Debtors 2024 2023 Other debtors Prepayments and accrued income 14,194 981 15,175 14,248 981 15,229 13 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals 33,286 12,020) 1,963 35,250 1,962 1571 14 Movement in fvnds Incoming resources {Including other At l April gains/losses 2023 At31 March 2024 Resources expended Restricted funds: Unrestricted funds: General funds 301,812 44,548 141,9511 304,409 Total funds 301,812 44,548 141,9511 304,409 Page 13 The Mount Pleasant Centre Notes to the Accounts 15 Analysis of net assets between fvnds Unrestricted funds Total Fixed assets Investments 298.939 298.939 Net current assets 5,469 304,409 5,469 304,409 16 Reconciliation of net debt At31 March At l April 2023 Cash flows 2024 Cash and cash equivalents 39,254 39,254 {13,7101 {13,710) 25,544 25,544 Net debt 39,254 113,7101 25,544 17 Related party dlsclosures 2024 2023 Tronsuctions with related parties Name of related party Mount Pleasant Club Ltd Description of tronsoction and general amounts involved Amount duefrom/(toJ the related porty Rent 8,500 8,500 Name of related porty Description of tronsartion and general omounts involved Amount duefrom/(to) the related porty Controlling porty The trustees consider that the charity is jointly controlled by the trustees and that there is no single ultimate controlling party. Mount Pleasant Club Ltd Owed the charity 14,194 14,248 Page 14 The Mount Pleasant Centre Detailed Statement of Financial Activities for the year ended 31 March 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Income and endowments from; Charitable activities Maintain and manage property 34,636 8,500 43,136 34,636 8,500 43,136 29,229 8,500 37,729 Other Rent from Mount Pleasant Club Grants 632 632 102 780 1,412 780 1,412 102 Total income and endowments 44,548 44,548 37,831 Expenditure on: Charitable activities Maintain and manage property 30,909 30,909 30,909 30,909 11,013 11,013 Governance costs Bookkeeping and other professional fees 4,419 4,419 3,610 4,419 4,419 3,610 Total of expendlture on charltable activities 35,328 35,328 14,623 General administrative costs, including depreciation and amortisation Depreciation of land and buildings Depreciation of Fixtures and fittings 6,131 6,131 6,131 492 492 655 6,623 6,623 6,623 6,623 6,786 6,786 Total of expenditure of other costs Total expenditure 41,951 41,951 21.409 Net gains on investments Net income 2,597 2,597 16,422 Net income before other Eains/(losses) Other Gains 2,597 2,597 16,422 Net movement in funds 2,597 2,597 16,422 Page 15 The Mount Pleasant Centre Detailed Statement of Financial Artivities Reconciliation of fvnds: Total funds brought forward 301,812 301,812 285,390 Total funds carried forward 304,409 304,409 301,812 Page 16