STRAND COMMUNITY TRUST LTD Charity Number: 1137694 Company Number: 06559331 ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 STRAND COMMUNITY TRUST LTD CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Page Legal and Administrative Information Trustees Annual Report Independent Examiners Report Statement of Financial Activities Balance Sheet Notes to the financial statements 8-14 STRAND COMMUNITY TRUST LTD LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2022 Trustees Barrie Cooper (appointed 13 December 20221 D Hingslon A Pemberton P Lenlle Contact Address & ¢10 The Slrand Church 32 The Strand Dawlish Devon EX7 9PT The charity is incorporaled in England and Wales Company Reglstratlon Number 06559331 Charlty Reglstrallon Number 1137694 Independent Examlner Community360 Winsley's House High Street Colchester Essex, C01 1 UG ## **STRAND COMMUNITY TRUST LTD** ## **TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** ## **Activities of the charity** The year 2022 began with the trustees very aware that we had lost a lot of expertise. We took the view that we could only do our best; we would make mistakes but would be open about them. A very early decision was to reduce the number of meetings by amalgamation. The affairs of the Joint Authorised Buildings Board (JABB), which enables trustees and church representatives to provide a unified front in our dealings with the Synod, are now dealt with at the main SCT Board meeting. JABB has become a standing agenda item at both SCT and Elders’ meetings. Repairs to the boundary wall were carried out in June 2022, the issue having been picked up by the Quinquennial Survey which was carried out in May 2021. Our major difficulty during 2022 lay in the process of filing the accounts for 2021. It took a long time to find a new accountant; once the accounts were sent to them, they took a long time to get started on the examination. Once work was under way, they found that the separation of Inspire Café Ltd from the Strand Community Trust Ltd had not actually been accomplished due to an oversight. The Inspire Café has always had a separate bank account and a new one was not opened for Inspire Café Ltd. The recommendation was to re-combine the accounts from both entities. This also took a great deal of time; so with it all we were very late in filing our 2021 accounts and our AGM was correspondingly delayed into early 2023. The year 2022 has been a process of gradually returning to normal life after the pandemic, and encouraging our clients and visitors to do the same. Bookings have not yet returned to pre-pandemic levels. The cost of living crisis has seen demands upon the food bank increase. The heating in the Auditorium has been kept a little lower than usual to save on fuel costs; so the Celebrate Monday group decided to meet at the Methodist hall for the winter. We have been pleased to host a weekly support group for Ukrainians. The Men’s Shed was completed at last and is now open 3 days a week. Gradually the Craft stalls reappeared; a significant draw for our customers. The equally popular live background music again became an occasional feature. The new normal started to become apparent as particular trends appeared. Inspire Cafe and other traders at this end of the Strand noticed that visitors were much less likely to venture far from the sea end of town; and when they did come this far, they were reluctant to spend as much money as before. To engage the curiosity of visitors about what lay further up the street, we invested in a feather banner to advertise our presence. As the cost-of-living crisis took hold, the menu, which had widened, was simplified again. We have been very concerned that some families might be facing even greater hardship, if they had used government cost-of-living subsidies to fund Christmas celebrations. Throughout the year events have been well supported; in particular, a dramatic reading of _A Christmas Carol_ was so well received that it is proposed to make it an annual event. The Christmas Day lunch was as great a success as in pre-pandemic times. All these recent events have contributed to increasing optimism for the future of the Strand Centre and its work. In order to keep heating bills to a minimum, there are plans to move all Strand Centre operations, including the Inspire Cafe, up to the Strand Hall. **2** ## **STRAND COMMUNITY TRUST LTD** ## **TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** In November, Gary Osborne resigned as trustee; in December Barrie Cooper was appointed to the Board. The trustees are keenly aware how much they owe to all volunteers and staff, without whose selfless efforts the Strand Centre would not function. Our gratitude to all our officers and volunteers has been reflected in various awards showing wider recognition. As 2022 comes to a close, many people associated with SCT are conscious that the atmosphere has lifted and a feeling of optimism is abroad ## **Statement of the Directors' and Trustees' Responsibilties** The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP). In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :- - to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). - select suitable accounting policies and apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business; - 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; The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year. The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. **3** ## **STRAND COMMUNITY TRUST LTD** ## **TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** The Trustees are also responsible for the contents of the Trustees' report, and the accountant preparing the accounts has no responsibilities in relation to the Trustees' report. Signed: David Hingston Date: Trustee **4** STRAND COMMUNITY TRUST LTD INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 I report on the accounts of Strand Community Trust LTD for the year ended 31 December 2022 which are set out on pages 6 to 14. Respeciive responsibilities ol trusiees and examiner The Charity s Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year (under section 144121 of the Charities Act 2011 (The Act) but that an independent examination is needed. It is my responsibility to.. Examine the accounts under section 145 of the Charities Act, To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145{5)Ibl of the Charities Act, and To state whether particular matters have come to my attention. Basis of independent examiner's Statement My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examinalion, no material matters have come to my attention which gives me cause to believe Ihat in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act- or the accounts did not accord with the accounting records., or the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair, view which is not a matter considered as part of an independent examination. I have come across no other matters in connection with the examinalion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Shelley-marie Rudling FMAAT AATQB for and on behalf of: Community360 Winsley's House, High Street, Colchester, Essex, C01 1 UG Date 2010912023 STRAND COMMUNITY TRUST LTD STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2022 2022 2021 Noles Incoming resources Incoming resources from generating funds.. Donalions and legacies Charilable activities Fundraising income Olher Tolal incoming resources 31,757 64,620 3,283 1.642 33,399 64,620 3,283 48,280 27,734 1,152 99,660 1,642 101.302 Tl,166 Resources expended Costs of charilable activities Tolal resources expended 87,328 87,328 935 935 88,263 88,263 85,768 85,768 Nel incomel(expense) before transfers 12,332 707 13,039 (8,602) Transfers belween funds Nel incomel(expense) 12,332 707 13,039 (8,602) Reconciliation of funds Total Funds BIFwd 15,0891 2.283 12,806} 5,796 Total Funds CIFwd 7,243 2,990 10,233 (2,806) Notes on pages 8 to 14 form an integral part of these accounts. STRAND COMMUNITY TRUST LTD BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Noles Fixed assels Tangible assets 12 4,570 Currenl assets Debtors Cash at bank and in hand 13 442 17,891 18,333 441 18,772 19,213 Credilors: amounls falling due within one year 14 1,100 7,589 Nel current asselsl(liabilities) Tolal assels less Current liabilities 17,233 17.233 11,624 16,194 Creditors.. amounts falling due after more Ihan one year 15 7,000 19,000 Nel assets 10,233 (2,806) Funds of Ihe Charity: Restricted funds 16 2,990 2,283 Unrestricted income funds 16 7,243 15,0891 Tolal funds 10,233 (2,806) For the financial year ending 31 December 2022 the charity was entitled to exemption from audit I section 477 of Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have nol required Ihe charity to obtain an audit of its accounls for the year in question in accordance wilh section 476. and The direclors acknowledge their responsibililies for complying with the requirements of the A( with respect to accounting records and preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Signed David Hingston Trustee Date ¢2 o 2022 STRAND COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 1 Accounling policies Policies relating to the production of the accounts. Basis of preparation and accounling Convention The accounts have been prepared on the accruals basis, under the historical cost convention. and in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191- (Charities SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Cash Flow The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 "Cash flow statements" Policies relating to categories ol income and income recognition Nature of income Gross income represents the value. net of value added tax and discounts, of goods provided to customers and work carried oul in respecl of services provided to cuslomers. Income recognilion Income, whether from exchange or non exchange transaclions, is recognised in the statement of financial aclivities {SOFA} on a receivable basis, when a transaclion or olher event results in an increase in the charity's assets or a reduction in its liabilities and only when the charity has legal entitlement. the income is probable and can be measured reliably. Income subject to terms and condilions which musl be mel before the charity is entitled to the resources is not recognised until the conditions have been met. All income is accounted for gross, before deducting any related fees or costs. STRAND COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Income from legacies Income from legacies is recognised when the charity has sufficient evidence that a gift has been left to them, thal where required, probate has been granled, the execulor is salisfied that the property in question will not be required to salisfy claims in the eslate, that it is probable that the amount will be received by the charity, and the amount to be received can be eslimaled with sufficient accuracy, and that any condilions attached to the legacy are either within the control of the charity or have been met. Donaled goods, facilities and services Donaled fixed assels are recognised at the current fair value. All such donations are recognised as donation income, and debited to fixed assets. Donaled goods that are not fixed assets are accounted for at a fair value. unless it is impractical to reliably measure the value of the donated ilems. In the absence of any direct evidence of fair value of donaled goods, then a value is derived from the cost of the item lo the donor or, in the case of goods that are expected to be sold, the eslimaled resale value after deducling any anticipated cosls of sales. If it is impracticable lo measure the fair value of goods donated for resale, or Ihe cosls of valuation oulweigh the benefits, the donated goods are recognised as income when sold, with an equivalenl amount being recognised as an expense. Policies relating to expenditure on goods and services provided to the charity Recognilion of liabilities and expendilure A liabilily, and the related expenditure. is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely Ihan not that a transfer of economic benefits will be required in seltlement, and when the amount of the obligation can be measured or reliably estimaled. Liabilities arising from future funding commitments and constructive obligalions, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed al the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates. STRAND COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Fund structure Unrestricted income funds are general funds that are available for use at the Trustee's discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes. the use of which is restricted to that area or purpose. Income from donations and legacies Unrestricted Reslricled 2022 2022 Tolal 2022 Tolal 2021 Donations receivable Grants Small grants under £1000 Devon Town Council CJRS Income National Lottery Fund 26.792 1,642 28,434 24,173 4.965 4,965 2,683 6,587 4,837 10,000 48,280 31,757 1,642 33,399 2021 Tolal 37,430 10,850 48,280 Income from charilable activilies Unrestricted Reslricled 2022 2022 Tolal 2022 Tolal 2021 Letting of property Inspire café Other income 14,722 38,850 11,048 64,620 14,722 38,850 11,048 64,620 5,491 20,065 2,178 27,734 2021 Tolal 27,734 27,734 Fundraising income Unrestricted Reslricled 2022 2022 Tolal 2022 Tolal 2021 Events 3,283 3,283 3,283 3,283 1,152 1.152 2021 Tolal 1,152 1,152 10 STRAND COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 5. Expenditure on charilable aclivilies Unrestricted Restricted 2022 2022 Tolal 2022 Total 2021 Charitable activity - direct costs Gross wages & salaries Pension costs Café costs Direcl project costs Charitable aclivity - support costs (note 81 Tolal 18,941 832 25,587 6,279 35,689 18,941 832 25,587 7,214 35,689 9,642 849 4,019 27,579 43,679 935 87,328 935 88,263 85.768 2021 Tolal 78.768 7,000 85,768 6. Analysis of support costs Unrestricted Restricted 2022 2022 Tolal 2022 Total 2021 Premises expenses Rates and waler charges Light, heat & power Cleaning & waste management Premises repairs, renewals & mainlenance Property insurance Administrative expenses Telephone, fax & internet Printing, postage & stationery Hire of equipment Accountancy costs Sundry expenses Financial costs Depreciation Tolal support costs 842 9,547 3,790 10,106 842 9,547 3,790 10,106 825 8,821 775 20,461 1,513 1,513 1,115 850 324 801 400 2,946 850 324 801 400 2,946 1,408 855 371 2,300 2,179 4,570 4,570 4,571 35,689 35,689 43,679 2021 Tolal 36.679 7,000 43,679 STRAND COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 7. Governance costs Tolal 2022 Tolal 2021 Independent examiner fees: Examination of the financial statements 400 400 700 700 8. Nel incomingloutgoing resources Net incoming resources for the year include: Tolal 2022 Tolal 2021 Deprecialion of fixed assets 4,570 4,571 9. Trustees remuneration and expenses No other trustees has received any benefits or remuneration from the charity during the year. 10. Slaff 2022 2021 Staff employed No staff earned more than £60,000 during the year. 11. Golng Concern The trustees of Ihe charity deem Ihat there are sufficient funds available to continue operaling on a going concern basis for the forseeable future 12 STRAND COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 12. Tangible fixed assets Plant & Machinery Tolal Cosl As at 1 January 2022 Disposals Additions As at 31 December 2022 33,608 33,608 33,608 33,608 Depreciation As at 1 January 2022 Disposals Charge for the year At 31 December 2022 29,038 29,038 4,570 33,608 4,570 33,608 Nel book values At 31 December 2022 At 31 December 2021 4,570 4,570 13. Deblors 2022 Tolal 2021 Tolal Other debtors 442 442 441 14. Creditors: amounts falling due wilhin one year 2022 Tolal 2021 Tolal Other creditors 1,100 1,100 7,589 7.589 15. Creditors: amounts falling due after more than one year 2022 Tolal 2021 Tolal Long term creditors 7,000 7,000 19,000 19.000 13 STRAND COMMUNITY TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 16. Funds Balance al 1 January Incoming Resources 2022 resources expended Transfers Balance at 31 December 2022 Unreslricled funds General funds {5,089} 99,660 187,3281 7,243 Tolal unreslricled funds (5,089) 99,660 (87,328) 7,243 Reslricled funds Needy fund Big Lottery Other 1.433 1,433 850 850 Tolal restricted funds 2.283 2,283 Tolal Funds (2,806) 99,660 (87,328) 9,526 14