COMPANY REGISTRATION NUMBER: 06983485 CHARITY REGISTRATION NUMBER: 1137554 

THE CHANTRY CENTRE (A Company Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 



THE CHANTRY CENTRE (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS 

## YEAR ENDED 31 AUGUST 2024 

|**Registered charity name**|The Chantry Centre|
|---|---|
|**Charity registration number**|1137554|
|**Company registration number**|06983485|
|**Principal office and**|34-36 Long Street|
|**Registered Address**|Dursley|
||Gloucestershire|
||GL11 4JB|
|**Trustees**|The trustees, who are also directors for the purposes of|
||company law, who served the during the year and up to the|
||date of this report were as follows:|
||Mr A P Judge - Chair|
||Dr A R R Telford - Vice Chair|
||Mr G A Wheeler|
||Mr R D Buckle|
||Ms T M Radclyffe|
||Ms J C Griffiths|
|**Secretary**|A P Judge|
|**Bankers**|Lloyds Bank plc|
||Rowcroft|
||Stroud|
||Gloucestershire|
||GL5 3BG|
|**Independent Examiner**|Ruth Herbert FCCA|
||Wenn Townsend Chartered Accountants|
||5 Gosditch Street|
||Cirencester|
||Gloucestershire|
||GL7 2AG|



2    - 

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## THE CHANTRY CENTRE (A Company Limited by Guarantee) REPORT OF THE TRUSTEES 

## YEAR ENDED 31 AUGUST 2024 

The Trustees present their annual report together with the financial statements for the charitable company for the year ended 31 August 2024. 

Reference and administrative information set out on page 2 forms part of this report. The financial statements comply with current regulatory requirements, the Memorandum and Articles of Association and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - second edition October 2019 – (Charities SORP (FRS 102)). 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## _**Governing document:**_ 

The Chantry Centre is a company limited by guarantee (registered number 06983485) is controlled by its governing document, its Memorandum and Articles of Association dated 6 August 2009 and is registered as a charity with the Charity Commission. 

## _**Organisational Structure:**_ 

To manage certain commercial activities, The Chantry Centre has a wholly owned trading company limited by shares, The Chantry Centre Trading Company Limited (Company Number 07396495). Its principal activity is the operation of the licensed bar facilities. 

## _**Recruitment and Appointment of Trustees:**_ 

Trustees, who are also directors of The Chantry Centre, are appointed from time to time and as and when required from within the community to bring required skills to the charity. Trustees are subject to re-election every three years by rotation. 

## _**Risk Management:**_ 

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 

## **MISSION, OBJECTIVES AND ACTIVITIES** 

The principal objective of The Chantry Centre is to _“advance education, health and amateur sport and to provide facilities in the interests of social welfare for recreation and leisure time occupation”_ for the inhabitants of Dursley and surrounding parishes. 

The Chantry Centre has the following vision and mission. 

## **Chantry Centre Vision:** _**A vibrant hub at the heart of your community**_ 

**Chantry Centre Mission:** _**As a safe and welcoming centre for the community, the Chantry Centre supports opportunities that enrich the lives of our diverse neighbourhood and supports people to connect, engage and grow**_ 

To achieve this objective The Chantry Centre makes its existing building and grounds in Long Street, Dursley (comprising of the Lister Hall and supporting facilities and rooms) available for local community groups, hire for private events (e.g. birthdays, wedding celebrations) and the performing arts. The Chantry Centre is currently engaged in a long term programme to refurbish, repair where necessary and make conversions to these facilities to make them suitable for as wide a range of activities as possible. 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) REPORT OF THE TRUSTEES 

## YEAR ENDED 31 AUGUST 2024 

## **PUBLIC BENEFIT** 

In planning The Chantry Centre’s activities for the period, the Trustees have kept in mind the Charity Commission's guidance on public benefit. The focus of The Chantry Centre’s activities during the period, which explains the delivery by the charity of public benefit, is set out below under “Achievements and Performance” and above under “Mission, Objectives and Activities”. 

## **ACHIEVEMENTS AND PERFORMANCE** 

There was significant progress during the year in moving The Chantry Centre’s longer term plans forward. 

With respect to the ongoing refurbishment programme, the focus was largely on the front of the building - the entrance, corridors and changing of the flooring in the Centenary Lounge. Preparations were also made for the rebuilding of the stage door area with works due to commence in September 2024. Much of the refurbishment during the year was funded from the Chantry Centre’s own funds (including private donations) and the Littlecombe S106 funding. Securing grant funding for capital improvements to the building proved to be a challenge with only limited success, being a grant of just under £10k for an accessible lift in the stage door area from Stroud District Council via the Rural England Prosperity Fund. 

Over the year as a whole the number of different community groups and organisations using the Chantry Centre was broadly constant with the prior period, but towards the end of the financial year a couple of new groups started. The Trustees are, as ever, most grateful for the ongoing support of these community groups. 

A community survey, with a focus on Chantry Centre users, was conducted in early 2024 to better understand future refurbishment priorities. With 130 responses, it provided the Trustees with valuable insights. Key themes emerged including the importance of accessibility (particularly to toilets), reliable wifi and better heating. The planned stage door works will help to address the issue of accessibility, whilst a switch from BT to Starlink has led to much improved wifi capability. Plans were also put in place at the end of the financial year to start upgrades to the heating system – although the scale of the overall works needed means that improvements will, of necessity, be on an incremental basis. The first stage is to put an additional system in place for skittles alley and bar area so it has its own separate system rather than, at present, needing to heat the whole building. It is hoped that this will also improve the efficiency of the existing system. 

The year saw the Chantry Centre in receipt of funding to allow it to host larger scale ticketed events without putting the charity’s unrestricted funds at risk. Several successful fundraising events were held, including productions by Rain or Shine, with plans to increase such events in 2024/5. 

The volunteer-run Garden Café continues from strength to strength, with a number of new volunteers during the year. It continues to contribute significantly to the wellbeing of the Chantry Centre (both financially and as a welcoming space, socially for those suffering from isolation). Similarly the garden group have contributed to recent improvements in the garden; over time the previously neglected garden has become a real asset to the Chantry Centre and garden hire is starting to become of source of hire income in its own right. The Trustees are very appreciative of the dedication of both the café team and garden group. 

Overall it is estimated that the contribution from volunteers during the year was at least 4,250 hours – the equivalent to around 2.5 Full Time Employees. 

Over the winter months, largely funded by the National Lottery Awards for All fund the Chantry Centre continued its very popular Soft Play sessions. It is a great opportunity for both children and their parents/carers to get out and about and socialise. Over the period 576 children attended and 818 toasted sandwiches were prepared. 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) REPORT OF THE TRUSTEES 

## YEAR ENDED 31 AUGUST 2024 

## **FINANCIAL REVIEW** 

Notwithstanding the progress and hard work it was a difficult year financially for the Chantry Centre; the release of a prior year Restricted donation of £20,000 to Unrestricted Funds (as highlighted in 2023 report), allowed The Chantry Centre to effectively break-even on its unrestricted activities. 

The combined effect of the cost of living crisis and the falling away of “pent up” demand to celebrate special events held over from COVID-19 resulted in a fall in room hire revenue of over 15%. The impact was strongest amongst private hires where several booked events were cancelled. There was a corresponding impact on sales at the Trading Company which meant that it was not in a position in the year to be able to gift aid profits to the charity. 

The Chantry Centre itself was not immune to cost pressures, with significant increases in staffing costs (in the form of par rises and pension costs), energy costs and, following a revaluation of the premises, insurance costs. Other costs, including compliance and alarm systems, were also subject to upward pressure. 

Whilst the trustees review operating costs monthly (in particular staffing and energy costs), there is limited scope for further cost savings. The Trustees focus is therefore upon increasing revenue generation through a series of actions identified in summer 2024. These actions include: 

- Seeking additional grant funding to support the continuation of soft play sessions for the next two years. This has been successful - as well as National Lottery Awards for All, the trustees are enormously grateful to a number of local organisations who have provided their support for this very popular and valuable local activity; 

- Raising awareness that the Chantry Centre is a charity and using this to seek grants, donations etc to help support day-to-day operating costs. In addition the Trustees are actively working with other local charities for them to use the Chantry Centre to host their fundraising events; 

- Building on the “Rain or Shine” experience, the Trustees plan to increase the number ticketed events at the Chantry Centre – either managed by third parties or by the Chantry Centre itself – with the aim that the Chantry Centre is seen as an entertainment venue as well as hosting community and private hires; 

- Seeking ways in which it can to expand food sales. 

There is early evidence to suggest that the identified actions are having a positive impact on the sustainability of the Chantry Centre’s finances. 

During the year a further £8,690 of the £200,000 Littlecombe S106 money was approved by Stroud District Council and released to The Chantry Centre leaving a remaining balance of £123,073. Various planned refurbishment projects planned are likely to mean that, subject to Stroud DC approval, this balance will be largely drawn down by the end of the next financial year. 

## **RESERVES POLICY** 

As at the year end the Chantry Centre held free reserves of £41,290 being net assets (£85,877 less Prepayments £5,741 and less Restricted Funds in the form of Cash (£38,846). 

The Trustees have carried out an assessment in accordance with the reserves policy, estimating funds required to cover the following potential future cost risks: 

- Designated maintenance costs; 

- Designated reserves for running costs in the event of the unexpected inability of the Chantry Centre to generate any income for a period of 6 months; 

- Dissolution costs. 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) 

REPORT OF THE TRUSTEES 

## YEAR ENDED 31 AUGUST 2024 

It has been estimated that to meet the largest of these potential future liabilities would be 6 months of an inability to generate revenue and this would require £48,036, the increase on the prior year reflecting the effects of inflation on all costs. In certain scenarios business interruption cover on the Chantry Centre’s insurance policy may mitigate this cost exposure. 

The Trustees have noted that this represents a shortfall of £6,746 against the available reserves (see below) 

## **CONTINGENCIES AND SUBSEQUENT EVENTS** 

The Chantry Centre was in receipt of an unrestricted donation of £20,000 in December 2024 which addresses the shortfall in reserves identified above. 

There have been no other matters that impact on the accounts or the disclosures therein in the period from the year end 31 August 2024 until the date these accounts were approved by the Trustees. 

## **STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES** 

The Trustees (who are also directors of The Chantry Centre for the purposes of company law) are responsible for preparing the Trustees’ report and financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of The Chantry Centre and the incoming resources and application of resources, including the net income or expenditure for the year. In preparing those financial statements the Trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Observe the methods and principles in the applicable charities SORP; 

- Make judgements and estimates which are reasonable and prudent; 

- State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- Prepare the financial statements on the going concern basis unless it is inappropriate to assume that The Chantry Centre will continue in operation. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of The Chantry Centre and which 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 Chantry Centre and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The Trustees confirm to the best of their belief and knowledge there is no information relevant to the independent examination of which the independent examiners are unaware. The Trustees also confirm they have taken all necessary steps to ensure that they themselves are aware of all relevant information and that this information has been communicated to the independent examiners. 

Members of The Chantry Centre guarantee to contribute an amount not exceeding £10 to the assets of The Chantry Centre in the event of winding up. The total number of such guarantees as at 31 August 2024 was 6. The Trustees are members of The Chantry Centre but this entitles them only to voting rights. The Trustees have no beneficial interest in The Chantry Centre. 

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THE CHANTRY CENTRE
(A Company Limited by Guarantee)
REPORT OF THE TRUSTEES
YEAR ENDED 31 AUGUST 2024
INDEPENDENT EXAMINER
Ruth Herbert FCCA at Wenn Townsend was appointed as inéependent examiner for The Chantry
Centre during the year and they have expressed their willingness to continue in that capacity.
Approved by the Trustees on 14 March 2025 and signed on their behalf by
Adrian Judge- Chair

THE CHANTRY CENTRE
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHANTRY
CENTRE
YEAR ENDED 31 AUGUST 2024
I report to the Trustees on my eXaMinat￿n of the ￿lUnts of The Chanty Centre for the year ended
31 August 2024 which are set out on p4es 9 to 21.
RESPONSIBILMES AND BASIS OF REPORT
As the Trustees of The Chantry Centre land also rts directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordance wrth the Companies Act 20061.the 2006
AcY'}
Having satisfied myself that the accounts of The Chanty Centre are nol ￿qUired to be audited under
Part 16 of the 2006 Act and are eligible for independent examinalion. I report in ￿Spect of my
examination of The Chanty Centre's accounts as carried out under secbon 145 of the Chanties Act
20111.the 2011 ACVI. In carrying Olrt my exaMInatK￿ I have followed all the applicable Directions given
by the Charity CoMmiss￿n under section 145{5)(bl of the 2011 h£L
INDEPENDENT EXAMINER'S STATEMENT
I have Completed my examinats'on. I confim that no matters have com8 to my attents'on in connectson
wrth the examinatKsn giving ￿ cause to believe that in any material respect..
1. Accounting records were not kept in respect of The Chanty Centre as required by section 386
of the 20C6 Act.. or
2. The a¢￿Unts do not accord wrth those records,. or
3. The accounts do not comply with the accountsng requirements of section 396 of the 2006 Act
other than any requirement that thé accounts gNe a 'tru8 and fair viebrf which is not a matter
considered as part of an independent examination.. or
4. The ac￿￿nts have not been p￿pared in *cordance with the ￿trtOd$ and principles of the
ststemenl of Recommended Practice for xcounling and reporting by charities applicable to
charities preparing their accounts in acc#)rdance with the Financial Reporting Standard
applicable lo the UK and Republic of Ireland IFRS102}
I have no concems 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 pn)per understanding of the accounts to be
reached.
/L14e1&2V
Name..
Ruth Herbert FCCA
Date..
21 March 2025
Address..
Wenn Townsend Chartered Accountants
5 Gosditch Street
Cirencesler
GIOU￿stershIre
GL7 2AG

## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) 

## YEAR ENDED 31 AUGUST 2024 

|||**Unrestricted**||**Endowment**|||
|---|---|---|---|---|---|---|
|||**Funds**|**Restricted**|**Funds**|**Total**|**Total**|
|||**General**|**Funds**|**Expendable**|**2024**|**2023**|
||**Note**|**£**|**£**|**£**|**£**|**£**|
|**_Income from:_**|||||||
|Donations and legacies|3|30,075|40,719|-|70,794|158,517|
|**_Charitable activities:_**|||||||
|Room Hire|6|28,045|-|-|28,045|33,191|
|**_Investments_**|||||||
|Bank Interest||774|-|-|774|-|
|**Total Income**||**58,894**|**40,719**|**-**|**99,613**|**191,708**|
|**Expenditure on:**|||||||
|**_Costs of raising funds:_**|||||||
|Fundraising activities|||||||
|and events|7|5,087|528|-|5,615|4,894|
|**_Charitable activities:_**|||||||
|Building maintenance and|8|78,078|13,768|8,860|100,706|81,825|
|utilities|||||||
|**Total Expenditure**||**83,165**|**14,296**|**8,860**|**106,321**|**86,719**|
|Net Income / (expenditure)||(24,271)|26,423|(8,860)|(6,708)|104,989|
|Transfers between funds||25,340|(37,370)|12,030|-|-|
|**Net Movement in Funds**||**1,069**|**(10,947)**|**3,170**|**(6,708)**|**104,989**|
|**Reconciliation of funds:**|||||||
|Total Funds Brought Forward||54,377|49,793|374,783|478,953|373,964|
|**Total Funds Carried Forward**||**55,446**|**38,846**|**377,953**|**472,245**|**478,953**|



All of The Chantry Centre’s activities derive from continuing operations during the above two periods. 

The statement of financial activities includes all gains and losses recognised in the year. 

The statement of financial activities also complies with the requirements for an income and expenditure account under Companies Act 2006. 

- 9    - 



THE CHANTRY CENTRE
(A Company Limited by Guarantee)
BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Flxed Assets
Targ1￿ assèts
Invesirnents
12
13
388,367
379,724
379.725
Current Assots
Debtors
Cash In hatN1 ar#a 8188t*
14
53,284
50,689
103 973
80.767
88,725
¢I￿lt0￿.. Amounts falNng
due on• year
1S
4,74S
Not Current A88ets
85,877
99,228
N•t A88•ts
478 963
Fund• ofth• Char
ErK#ownent ILnJs
Rg$lrl¢tgd Income fur¥J8
UrTrslricted ir£orne fLnYs
Totsl Fund8
377,953
38,84e
5S,448
374,783
49,792
54,378
478 953
18
The company was entitled to exemption from audit under $477 of the Companies Act 2006 relating to
small companies.
The members have not required the company to obtsin an audrt in accordanc& with SeCt￿n 476 of the
Cornpanies Act 2006.
The directors acknowledge their responsibilities for Comptying with the requirements of the Compani88
Act with respect lo accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small ¢ompani88
subject lo the Small companies regime and in a¢cord8nce with FRS102 SORP.
The financial statements on pages 9 to 21 were approved by the Trustees and authorised for Issue on
14 March 2025 and are s￿ned on their behalf by..
MrAP
ge - Chair
10

THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

## **1. ACCOUNTING POLICIES** 

## **a) Basis of accounting** 

The financial statements have been prepared in accordance with Accounting and Reporting for Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006. 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. 

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 

The Chantry Centre meets the definition of public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## **b) Going Concern** 

The financial statements have been prepared on the assumption that The Chantry Centre is able to continue as a going concern. 

## **c) Changes to Accounting Estimates** 

No material changes to accounting estimates have occurred in the reporting period. 

## **d) Consolidation** 

In the opinion of the Trustees, The Chantry Centre and its subsidiary undertaking (Chantry Centre Trading Company Limited (Company Number 07396495)) comprise a small group. The Chantry Centre has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. 

## **e) Incoming resources** 

Income including income from room hire, donations, gifts and grants that provide core funding are recognised when the Charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be quantified with reasonable accuracy and is not deferred. 

Donations received for the general purposes of The Chantry Centre are included as Unrestricted Funds. Donations for activities restricted by the wishes of the donor are recorded as 'Restricted Funds' where these wishes are legally binding on the Trustees. 

Income is included in the Statement of Financial Activities on a receivable basis. The balance of income received for Restricted Funds but not expended during the period is shown in the Balance Sheet. 

Where income is received in advance of the provision of services and which is refundable, it is deferred and included in creditors until the criteria for income recognition has been met. Where entitlement to receive income occurs before income is received, the income is accrued. 

## **f) Government and Other Grants** 

Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

received and the amount can be measured reliably. 

## **g) Donated Services** 

Donated services are included in the Statement of Financial Accounts when received at the value of the gift to The Chantry Centre provided the value if the gift can be measured reliably. 

## **h) Funds accounting** 

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 

Restricted Funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the Restricted Funds are set out in the notes to the financial statements. 

Endowment Funds are subject to specific conditions by donors that the capital should be maintained by The Chantry Centre until the right to expend it is exercised. 

## **i) Investment income** 

Investment income is included in the Statement of Financial Activities in the year in which it is receivable. 

## **j) Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure incurred but not paid for is accrued and expenditure which is incurred in advance of its benefit is treated as a prepayment. 

## **k) Statement of Financial Activities** 

In preparing the Statement of Financial Activities, the Trustees have attributed, where readily determinable, costs between costs of raising funds and charitable activities. 

## **l) Cost of raising funds** 

These are costs incurred in attracting voluntary income and those incurred in activities that raise funds. 

## **m) Charitable Activities** 

Charitable expenditure comprises those costs incurred by The Chantry Centre in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature that are necessary to support them. 

## **n) Governance Costs** 

Governance costs comprise all costs involving public accountability of The Chantry Centre and its compliance with regulation and good practice. 

## **o) Taxation** 

The Charity is considered to pass the test 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 Charity is potentially exempt for taxation in respect to income or capital gains within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 245 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## **p) Tangible Fixed assets** 

All fixed assets are initially recorded at cost or market value as at the date of the acquisition or donation received. Assets costing under £100 are not capitalised. Assets are subject to annual impairment reviews. 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the asset as follows: 

Land and buildings: 2% straight line per annum Fixtures and Equipment: 20% straight line per annum 

## **q) Fixed Asset Investments** 

The investment held in The Chantry Centre’s subsidiary undertaking (Chantry Centre Trading Company Limited (Company Number 07396495)) is valued at cost. 

## **r) Cash and Cash Equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **s) Debtors** 

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by The Chantry Centre.  Subsequently, they are measured at the cash or other consideration expected to be received. 

## **t) Creditors** 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. 

Creditors  are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. 

Creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 

13    - 

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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

## **2. PRIOR YEAR COMPARATIVES: STATEMENT OF FINANCIAL ACTIVITIES** 


**----- Start of picture text -----**<br>
Unrestricted Restricted Endowment<br>Funds General Funds Funds Total<br>2023 2023 2023 2023<br>£ £ £ £<br>Income from:<br>-<br>Donations and legacies 29,500 129,017 158,517<br>Charitable activities:<br>Room Hire 33,191 - - 33,191<br>Total Income 62,691 129,017 - 191,708<br>Expenditure on:<br>Costs of raising funds:<br>Fundraising activities<br>and events 1,924 2,970 - 4,894<br>Charitable activities:<br>Building maintenance and 68,728 5,447 7,650 81,825<br>utilities<br>Total Expenditure 70,652 8,417 7,650 86,719<br>Net Income / (expenditure) (7,961) 120,600 (7,650) 104,989<br>Transfers between funds 2,295 (94,040) 91,745 -<br>Net Movement in Funds (5,666) 26,560 84,095 104,989<br>Reconciliation of funds:<br>Total Funds Brought Forward 60,043 23,233 290,688 373,964<br>Total Funds Carried Forward 54,377 49,793 374,783 478,953<br>**----- End of picture text -----**<br>


## **3. DONATIONS AND LEGACIES** 

|Donations<br>Grants, including capital grants:<br>Government grants<br>Grants from other organisations|**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Total**<br>**Total**<br>**General**<br>**Funds**<br>**2024**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>30,075<br>15,000<br>45,075<br> <br>70,500<br>9,690<br>9,690<br>74,237<br> <br>16,029<br>16,029<br>13,780|
|---|---|
||**30,075**<br>**40,719**<br>**70,794**<br>**158,517**|



## **4. GOVERNMENT GRANTS** 

The Chantry Centre received the following government grants: 

|Dursley Town Council<br>Stroud District Council - Littlecombe S106<br>Stroud District Council - Soft Play|**Total**<br>**Total**<br>**2024**<br>**2023**<br>**£**<br>**£**<br>-<br>10,000<br>8,690<br>64,237<br>1,000<br>-|
|---|---|
||**9,690**<br>**74,237**|



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THE CHANTRY CENTRE (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

## **5. DONATIONS** 

|**5.**<br>**DONATIONS**|||||
|---|---|---|---|---|
||**Unrestricted**||||
||**Funds**|**Restricted**|**Total**|**Total**|
||**General**|**Funds**|**2024**|**2023**|
||**£**|**£**|**£**|**£**|
|Tolvik Consulting Limited (Services)|9,600|-|9,600<br>|9,103<br>|
|Tolvik Consulting Limited|-|15,000<br>|15,000<br>|40,000|
|Garden Café|6,097|-|6,097|6,312|
|Soft Play|2,925||2,925<br>|143|
|The Chantry Centre Trading Company Ltd|-<br>|-|-|4,250|
|Miscellaneous Private Donations|11,453|-|11,453|10,692|
||**30,075**|**15,000**|**45,075**|**70,500**|



The services donation made by Tolvik Consulting Limited was in the form of specialist staff seconded to The Chantry Centre for specific marketing related activities/projects. 

The value of the donated services is calculated on the basis of estimated recorded activity time charged at the basic salary rate (i.e. excluding any associated employment costs). This value has been included to properly reflect the cost of specialist support required to maintain and develop The Chantry Centre’s user base. There were no conditions attached to the secondment. 

The contribution in terms of time given by the wide range of volunteers supporting The Chantry Centre is estimated to be circa 4,250 hours. This is not recorded in these accounts 

## **6. INCOME FROM ROOM HIRE** 

|**7.**<br>**COSTS OF RAISING FUNDS**<br>Total|**Unrestricted**<br>**Funds**<br>**Total**<br>**Total**<br>**General**<br>**2024**<br>**2023**<br>**£**<br>**£**<br>**£**<br>28,045<br>28,045<br>33,191|
|---|---|
||**28,045**<br>**28,045**<br>**33,191**|
|||



|Marketing and publicity|**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Total**<br>**Total**<br>**General**<br>**Funds**<br>**2024**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**|
|---|---|
||**5,087**<br>**528**<br> <br>**5,615**<br>**4,894**|



The cost of raising funds relate to the donation of services (see section 4) together with modest additional expenditure. 

## **8. TOTAL EXPENDITURE** 

All expenditure on Charitable Activities relate to building maintenance and utilities. As a result expenses have not been analysed by activity category/support costs. 

- 15    - 



## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

||**Unrestricted**||**Endowment**|||
|---|---|---|---|---|---|
||**Funds**|**Restricted**|**Funds**|**Total**|**Total**|
||**General**|**Funds**|**Expendable**|**2024**|**2023**|
||**£**|**£**|**£**|**£**|**£**|
|Building maintenance and utilities||||||
|Depreciation|2,765|-|8,860|11,625|9,159|
|Refurbishment Costs|-|8,311|-|8,311|3,316|
|Rates and water|2,272|-|-|2,272|2,991|
|Light, heat and power|14,534|1,619|-|16,153|15,641|
|Insurance and licencing|5,037|-|-|5,037|4,428|
|Repairs and maintenance|3,586|-|-|3,586|2,378|
|Building management inc staff|42,059|-|-|42,059|34,502|
|Telephone and postage|860|-|-|860|780|
|Equipment etc|21|3,838|-|3,859|1,009|
|Governance costs|6,944|-|-|6,944|7,621|
|**Expenditure: Charitable activities**|**78,078**|**13,768**|**8,860**|**100,706**|**81,825**|
|Expenditure: Fundraising|5,087|528|-|5,615|4,894|
|**Total Expenditure**|**83,165**|**14,296**|**8,860**|**106,321**|**86,719**|



## **9. NET INCOME/EXPENDITURE** 

This is stated after charging: 

|This is stated after charging:|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Depreciation of fixed assets|11,625|9,159|
|Independent Examiner's remuneration|1,800|2,150|
|Trustees' remuneration|**-**|-|
|Trustees' reimbursed expenses|**-**|-|



## **10. STAFF COSTS AND NUMBERS** 

The Chantry Centre does not directly employ any staff. 

The Chantry Centre Trading Company Limited employs a manager, part of whose role relates to building management and maintenance of The Chantry Centre, and whose salary and wages and associated costs during the year were recharged. In 2023/24 the cost was £33,414 _(2022/23: £29,686)_ and classified within Building Management in the analysis of Total Expenditure. The Chantry Centre Trading Company Limited also employs a part time cleaner, and in 2023/24 50% of their cost (£2,572) was recharged to The Chantry Centre. 

## **11. TAXATION** 

The Chantry Centre is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 

- 16    - 



## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

## **12. TANGIBLE FIXED ASSETS** 

|**13.**<br>**INVESTMENTS**<br>**Cost**<br>At 1 September 2023<br>Additions<br>**At 31 August 2024**<br>**Depreciation**<br>At 1 September 2023<br>Charge for the year<br>**At 31 August 2024**<br>Net Book Value<br>**At 31 August 2024**<br>At 31 August 2023|**Unrestricted Endowment**<br>**Funds**<br>**Funds**<br>**Fixtures and**<br>**Land and**<br>**Equipment**<br>**buildings**<br>**Total**<br>**£**<br>**£**<br>**£**<br>7,546<br>461,633<br>469,179<br>6,238<br>12,030<br>18,268<br>13,784<br>473,663<br> <br>487,447<br> <br>2,605<br>86,850<br> <br>89,455<br>2,765<br>8,860<br>11,625<br>|
|---|---|
||5,370<br>95,710<br>101,080|
||**8,414**<br>**377,953**<br>**386,367**|
|||
||4,941<br> <br>374,783<br>379,724|
|||



Shares in group companies and participating interests 

|**2023**|**2022**|
|---|---|
|**£**|**£**|
|**1**|**1**|



## **Details of undertakings** 

Details of the investments in which The Chantry Centre holds 20% or more of the nominal value of any class of share capital are as follows: 

||||**Proportion of**||
|---|---|---|---|---|
||**Country of**||**voting rights and**||
|**Undertaking**|**Incorporation**|**Holding**|**shares held**|**Principal Activity**|
|The Chantry Centre||||Operates the|
|Trading Company|England|£1 Ordinary|100%|licensed bar at|
|Ltd||||Chantry Centre|



As at 31 August 2024 The Chantry Centre Trading Company Ltd had net assets of £4,072. 

For the year ended 31 August 2024, The Chantry Centre Trading Company Ltd generated a retained profit of £100 _(2023: £18)_ from total revenue of £52,749 _(2022: £60,395)._ 

## **14. DEBTORS** 

|Trade debtors<br>Stroud District Council - Littlecombe S106<br>Prepayments<br>VAT Recoverable|**2024**<br>**2023**<br>**£**<br>**£**<br>1,992<br>3,030<br>-<br>41,737<br>5,741<br>1,048<br>225<br>7,469|
|---|---|
||**7,958**<br>**53,284**|



17    - 

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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

## **15. CREDITORS: Amounts falling due within 1 year** 

||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Trade creditors|-<br>|-<br>|
|Accruals|2,406|3,163|
|Due to The Chantry Centre Trading Company|-|1,282|
|Deferred Income (see Note 15)|442<br>|300<br>|
||**2,848**<br>|**4,745**<br>|



## **16. DEFERRED INCOME** 

Deferred income relates to deposits for advanced room hire. 

|At 1 September<br>Amounts deferred during year<br>Amounts released during year<br>At 31 August|**2024**<br>**2023**<br>**£**<br>**£**<br>300<br>600<br> <br>442<br>300<br>300<br>600|
|---|---|
||**442**<br>**300**|



## **17. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>**Total net assets as at 31 August 2024**|**Unrestricted**<br>**Restricted Endowment**<br>**Funds General**<br>**Funds**<br>**Funds**<br>**Total**<br>**2024**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>8,414<br>-<br>377,953<br>386,367<br>1<br>-<br>-<br>1<br> <br>49,879<br>38,846<br>-<br>88,725<br>(2,848)<br>-<br>-<br>(2,848)|
|---|---|
||**55,446**<br>**38,846**<br>**377,953**<br>**472,245**|



Prior year comparative analysis of net assets between funds: 

|Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>**Total net assets as at 31 August 2023**|**Unrestricted**<br>**Restricted Endowment**<br>**Funds General**<br>**Funds**<br>**Funds**<br>**Total**<br>**2023**<br>**2023**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>4,941<br>-<br>374,783<br>379,724<br>1<br>-<br>-<br>1<br>54,180<br>49,793<br>-<br>103,973<br>(4,745)<br>-<br>(4,745)|
|---|---|
||**54,377**<br>**49,793**<br>**374,783**<br>**478,953**|
|||



18    - 

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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

## **18. MOVEMENTS IN FUNDS** 

|**Unrestricted funds**<br>**_Unrestricted general funds_**<br>Total<br>**_Restricted funds_**<br>Tolvik Consulting<br>National Lottery Awards for All<br>Summerfield Charitable Trust<br>Gloucestershire GMCA<br>Stroud District Council - Littlecombe S106<br>Stroud District Council - Soft Play<br>Gloucestershire GMCA<br>Dursley United<br>Renishaw Charities Committee<br>Private Individuals<br>Total<br>**_Expendable endowment funds_**<br>Total<br>**Total funds**|**Balance at**<br>**Incoming**<br>**Outgoing**<br>**Transfers**<br>**Balance at**<br>**1 Sept 2023**<br>**Resources**<br>**Resources**<br>**Total 31 Aug 2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>54,377<br>58,894<br>(83,165)<br>25,340<br>55,446<br>41,754<br>15,000<br>(7,781)<br>(23,762)<br>25,211<br>5,273<br>9,800<br>(3,749)<br>(1,524)<br>9,800<br>1,766<br>-<br>(1,766)<br>-<br> <br>-<br>1,000<br>-<br>(1,000)<br>-<br>-<br>-<br>8,690<br>-<br>(8,690)<br>-<br>-<br>1,000<br>-<br>-<br>1,000<br>-<br>1,000<br>-<br> <br>(166)<br>834<br>-<br> <br>500<br>-<br>-<br>500<br>-<br> <br>500<br>-<br>-<br>500<br>-<br> <br>4,229<br>-<br>(3,228)<br>1,001|
|---|---|
||49,793<br>40,719<br>(14,296)<br>(37,370)<br>38,846<br>374,783<br>-<br>(8,860)<br>12,030<br>377,953|
||**478,953**<br> <br>**99,613**<br>**(106,321)**<br>**-**<br>**472,245**|



For clarity further detail is provided below with respect to transfers: 

|**Unrestricted funds**<br>**_Unrestricted general funds_**<br>Total<br>**_Restricted funds_**<br>Tolvik Consulting<br>National Lottery Awards for All<br>Stroud District Council - Littlecombe S106<br>Gloucestershire GMCA<br>Private Individuals<br>Total<br>**_Expendable endowment funds_**<br>Total<br>**Total funds**|**Capital**<br>**Other**<br>**Transfers**<br>**Expenditure**<br>**Total**<br>**£**<br>**£**<br>**£**<br>5,340<br>20,000<br>25,340<br>(3,762)<br>(20,000)<br>(23,762)<br>(1,524)<br>-<br>(1,524)<br>(8,690)<br>-<br>(8,690)<br>(166)<br>-<br>(166)<br>(3,228)<br>-<br>(3,228)|
|---|---|
||(17,370)<br>(20,000)<br>(37,370)|
||12,030<br>-<br>12,030|
||**-**<br>**-**<br>**-**|



19    - 

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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

Prior year comparative analysis of movements in funds: 

|**Unrestricted funds**<br>**_Unrestricted general funds_**<br>Total<br>**_Restricted funds_**<br>Reach Fund<br>Tolvik Consulting<br>Dursley Town Council<br>National Lottery Awards for All<br>Stroud District Council - Littlecombe S106<br>Summerfield Charitable Trust<br>GL11 Holding Together<br>Insp Desi Ltd<br>Total<br>**_Expendable endowment funds_**<br>Total<br>**Total funds**|**Balance at**<br>**Incoming**<br>**Outgoing**<br>**Transfers**<br>**Balance at**<br>**1 Sep 2022**<br>**Resources**<br>**Resources**<br>**31 Aug 2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>60,043<br>62,691<br>(70,652)<br>2295<br>54,377<br>2,970<br>-<br>(2,970)<br>-<br>-<br>20,113<br>40,000<br>(851)<br>(17,507)<br>41,754<br>150<br>10,000<br>(150)<br>(10,000)<br>-<br>-<br>9,650<br>(2,082)<br>(2,295)<br>5,273<br>-<br>64,237<br>-<br>(64,237)<br>-<br>-<br>4,080<br>(2,314)<br>-<br>1,766<br>-<br>50<br>(50)<br>-<br>-<br>-<br>1,000<br>-<br>-<br>1,000|
|---|---|
||23,233<br>129,017<br>(8,417)<br>(94,040)<br>49,793|
||290,688<br>-<br>(7,650)<br>91,745<br>374,783|
||**373,964**<br>**191,708**<br>**(86,719)**<br>**-**<br>**478,953**|
|||



Purpose of Restricted Funds: 

||**Initial**||**Year End**|
|---|---|---|---|
|**Source of Fund**|**Value **|**Purpose**|**Status**|
|National Lottery Awards for All|£9,650|Warm Welcome/Soft Play Sessions|Complete|
|National Lottery Awards for All|£9,800|Soft Play Sessions 2024-26|To start|
|Tolvik Consulting|£40,000|Refurbishment and operating costs|Ongoing|
|Tolvik Consulting|£15,000|Business Development|Ongoing|
|Summerfield Charitable Trust|£4,080|LED Lighting installation|Complete|
|Insp Desi Ltd|£1,000|Dursley After Hours|Complete|
|Stroud District Council - Littlecombe S106||Building Refurbishment|Ongoing|
|Stroud District Council - Soft Play|£1,000|Soft Play Sessions 2024-25|To start|
|Gloucestershire GMCA|£1,000|Soft Play Sessions 2024-25|Ongoing|
|Dursley United|£500|Soft Play Sessions 2024-25|To start|
|Renishaw Charities Committee|£500|Soft Play Sessions 2024-25|To start|
|Private Individuals|£4,229|Equipment Purchase|Ongoing|



_The Stroud DC S106 fund is an overall grant of £200,000 for which refurbishment projects need prior approval. As at 31 August 2024 £72,927 had been spent leaving a total remaining of £123,073 potentially available, subject to Stroud DC approval, for future projects._ 

20    - 

- 



## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2024 

|**Breakdown of Restricted Funds balance**<br>**as at 31 August 2024:**<br>Tolvik Consulting<br>National Lottery Awards for All<br>Stroud District Council - Soft Play<br>Gloucestershire GMCA<br>Dursley United<br>Renishaw Charities Committee<br>Private Individuals|**Other**<br>**Current**<br>**Cash**<br>**Assets**<br>**Total**<br>**£**<br>**£**<br>**£**<br>25,211<br>-<br>25,211<br>9,800<br>-<br>9,800<br>1,000<br>-<br> <br>1,000<br>834<br>-<br>834<br> <br>500<br> <br>-<br>500<br>500<br> <br>-<br>500<br>1,001<br>-<br>1,001|
|---|---|
||**38,846**<br>**-**<br>**38,846**|



## **19. RELATED PARTY TRANSACTIONS** 

During the year The Chantry Centre Trading Company Limited recharged The Chantry Centre total costs of £39,850 _(2023: £33,680)_ . This included the Manager’s time spent on The Chantry Centre activities (see Note 10) - totaling £33,414 _(2023: £29,686)_ ) together with other sundry expenses primarily relating to Building Management. 

As at 31 August 2024, The Chantry Centre owed The Chantry Centre Trading Company £nil for these services ( _2023: £5,812_ ). 

Tolvik Consulting Limited is a company of which Mr AP Judge (trustee) and his wife are shareholders. During the year Tolvik Consulting Limited donated services estimated to be worth £9,600 _(2023: £9,103)_ and made a cash donation of £15,000 _(2023: £40,000)._ 

As highlighted in Note 18, during the year the Trustees agreed to a restricted donation from Tolvik Consulting Limited of £20,000 being transferred to Unrestricted Funds. 

Mr AP Judge and Mr GW Wheeler (Trustees) also made private donations to The Chantry Centre during the year. 

21    - 

-