REGISTERED COMPANY NUMBER: 07592707 (England and Wales) REGISTERED CHARITY NUMBER: 1141612 REPORT OF THE TRUSTEE AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR MUDEFORD WOOD COMMUNITY TRUST Terence L Smith & Co Chartered Accounlanls 38a Slalion Road New Milton HampshiTe BH25 6JX
MUDEFORD WOOD COMMUNITY TRUST CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2024 Pagg Reference and Administratlve Details Report of the Trustoes Independent Examlnerfs Report ststement of Financial Activities Balancg Shogt Notes to the Financlal Statemgnts 8 to 13
MUDEFORD WOOD COMMUNITY TRUST REFERENCE AND ADMINISTRATIVE DETAILS fortho Yoar Endod 31 Mareh 2024 TRUSTEES Richard Ashdown Paul Hilliard (Honorary Treasurer} Elizabeth Sabey Ichairmanl Victoria Fuller Michael Scott-Johns Deborah Stephens Samuel Weeks COMPANY SECRETARY Paul Hilliard REGISTERED OFFICE Pipers Drive Mudeford Christchurch Dorset BH23 4TR REGISTERED COMPANY NUMBER 07592707 (England and Wales) REGISTERED CHARITY NUMBER 1141612 INDEPENDENT EXAMINER Terence L Smith & Co Chartered Accountants 38a Station Road New Milton Hampshire BH25 6JX BANKERS CAF Bank Ltd PO Box 289 Wesl Malling Kent ME19 4TA Page 1
DEF RDWO MMUNITY TRUST REGISTERED NUMBER: 07592707 REPORT OF THE TRUSTEES forthe Year Ended 31 March 2024 The Trustees, who are also Directors of the Trust for the PL¢rposes ol the Companies Act, sltbmil their Report and the Financial Slalemenls for the year ended 31 st March 2024. The financial slalements comply with the Charities Act 2011, the Companies Act 2006. and Accounting and Reporting by Charitie5.' Slslemenl of Recommended Practice applicable lo Gharilies pr8paring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 effective 1 January 2015. As a charitable ¢ompany, the Trust is govèrned by a Memorandum and Articles of Associab'on. OBJECTIVES AND ACTIVITIES Review of Actlvltles and Future Dovelopments The specific object of the Trust is explained within ils Articles of Association and, in summary, is.. lo promote for the benefit of inhabitants of Mudeford Wood, Christchurch, Dorset land the surrounding areal the provision of facilities by reason of their youth, age, infimiity or disability, financial hardship or, social or economic circumstances OT for the public at large in the interesls ol social welfare and with the object of improving the life of the said inhabitants. In practice this will mean the provision of facilities offering diverse activities for the social, mental and physical wellbeing of the local community, regardless of age, ethnicity OT culture To help achieve this, the Tfusl engages with and encourages the local community to become involved in the planning of 8¢tivilie5 and the running of the facilities al Mudeford Wood Community Cenlre. The TNsl's operations meet its public benefit expectations achieved with an enlhu$iaslic sel of volunteer5 running the Commursity Centre and ils associated sporting and other recreational facilities. The Trust assumed responsibility for the Mudelord Wood Community Centre and adjacent all-weather pitch together with access rights to the adjacent field from Christchurch Borough Council IBCP Council subsumed CBC, and is now the principal Council) within the terms of licence agreements on 1 sl April 2012 pending the enaclmenl of a lease for the former two areas in November 2013. The Cenlre is a busy and Ihrivirlg community based facilty that offers a diverse range of activities together with the opportunity for individuals and societies lo hire the all-wealher pitch, rooms and halls for their members and others. In planning activities for the period the Trustees have considered the Charity Commission's guidance on public benefit and the needs of the local community. The Trust has confimied ils commitment lor the Centre lo be used tor communty purposes during a period of emergency andlor local crisis as an evacuation or temporary holding location. The Trust's approach lo costs management together with efficient use of available resources mean5 that the Centre remains a financially viable chariiable based organisation. There conlinues lo be a lolal reliance upon the support and work of many volunteers lo enable the Centre lo offer the range of activities demanded. The Board is forever grateful for the many hours that substantial numbers of people give freely. The campaign of fund raisin9 and seeking grants wnlinues at a relentless pace lo identify funds that can enhance the Centre'$ facilities. Trustees use the electronic booking system and financial accounting software lo produce management reports and information that allows informed decisions to be made aboul marketing spare capacity and achieving best value for the investments made of time and money. Whilst the usage of the facilities for hire remains robust, the continued cost rises in energy and support services has proved a challenge for the Trust lo cope with. Whilst the Trust is doing ils best to.. maintain prudent control of its finances lo ensure that il remains financially secure," maintain financial reserves that will meet Charity Commission expeclalions., and, most importantly, seek to achieve a year-end outturn that will allow il lo achieve ils primary objective,, the current financial environment is unpredictable and likely lo result in an operational deficit brought into balance by the Trust's reserves for the year 2024125. The Trust remains in close contact and co-operates fully with the Local Authority and 11$ published guidance for allowing outdoor and indoor activities. The Trust employees a full lime Centre Manager, along with a part time Development Manager with a specific remit lo review Trust policies, explore grant funding and gerberale income from events and varied aclivilies. On behalf of the Trust, the Board is very grateful to the many individuals and organisalions that have contributed either with their lime or money (or both) in the last year. Every contribution has been much appreciated. Page 2
MUDEFORD WOOD COMMUNITY TRUST REGISTERED NUMBER: 07592707 REPORT OF THE TRUSTEES for the Year En ed 31 March 2024 OBJECTIVES AND ACTIVITIES VolunteerslFundraislng The Tru51 is supported by the volunteer activities of ils Trustees in roles beyond their Governance responsibilities, together wtlh a wider network of volunteers who provide help in many ways. There has been a reliance upon around just 25 Volunteers Including 7 Trusleesl on a regular basis, with other volunteers supporting larger aclivilies. Recruilmenl of new volunteers and Trustees continues to prove difficult as expectations change from offering community service lo a desire lo just "pay and play" with the work lo keep the Centre going undertaken by "someone else" The Trust is extremely grateful lo those people who provide their valuable commitment. The Trust's Fund Raising continues to be focused towards both grant and sponsorship applications for specific projects, together with a de$ire lo restore ils community-based Fund Raising events that will help grow ils unreslricled reserves. FINANCIAL REVIEW Financial Result The reported nel expenditure for 202312024 of £2,813 reflects the current chalSenging financial environment, balanTrd against the return ol a solid base of regular users and groups. The Trust benefits from ils compulerised systems that allow precise budgeting and financial planning that have proved invaluable during the year Mueh of the systems and processes have been digilalised removing the need for paper records. The Trust has ensured that data back-up is secure with records also held remotely from the Cenlre as a part of the Trust's Disaster Recovery Plan. The Trust takes active steps lo ensure that data is managed in accordance with Current Data Protection legislation and is registered with the Information Commissioner. Th& Trust is registered with PRSIPPL and holds a Music Licence on behalf of the Centre and ils hirers. Taking account of the reserve funds established, and as recorded within Note 110 the Accounts, the Trust had free cash of around £90k 811 sl April 2024. The Trust remains mindful of the competitive environment for securing grant funds with Trustees undertaking regular financial reviews al their meetings lo ensure that the wide fange of aclivili&s available al the Community Centre operate at least al balance or ideally al a sensible surplus lo maintain future financial Independence and viability. There was two members of staff la Centre Manager and a Development Man8gerl employed directly upon Mwcfs payroll during this accounting period. These members of staff joined the Trust's employment in July 2023. Other services were delivered against consultancy or other contracts and paid following receipt of invoices. In all cases contracts and payments were agreed in advance by the Board of Trustees before delivery commenced. Both members of Staff are eligible and are registered for the work-place pension. The Trust is registered for VAT. The Trust has been grateful for the good working relationships developed with and support from 11$ unitary local authority - the Bournemoulh, Poole and Christchurch CounGil. Rgsgrves The Trustees regularly revw the reseNes of the Trust. The Trustees review the level required each financial year taking ?¢oounl of both increased costs and an unpredictable fund-raising environment. The operational reserve has increased lo £86.000 and represents reserve5 that are around 12 months of minimum operating costs. Careful management of overhead ¢ost5 and spend results in the Trustees being able lo conlimi that level of reserves as being able to provide an adequate financial cushion. Prudent costs management will aim lo ensure that the neSSary reserves position will be maintained during 202412025 and subsequent financial periods with further reviews occurring as may be required. Page 3
DEFORD W O COMMUNITY TRU REPORT OF THE TRUSTEES for h 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Govornance and internal control The Trust, which is a registered Charity, is limf(ed by guarantee and does not have a share capital. The liability of each Member under guarantee Iwho are also the TfusleeslDire¢torsl does not trx¢eed the sum ol £10. It is governed by a Memorandum and Articles of Association. The Trustees receive no remuneration for their service5. The Trustees who served during the year are as shown on page 1. The Board of Trustees has mel face-to-face as required by ts Artides of Association and by other means as may be required. The 8oard is 5UPPOrted by Truslee-led Working Groups that have more detsiled responsibility for the following matter5.' Operations, Premises Mainlenan¢e and Development., MaetIng and Communications., Volunteer Management," Finance and Governance. The role and composition ol the Working Groups is vieWed each year. The Board undertakes regular reviews to ensure that il remains an effective Body that achieves an appropriate balance beiween operational and strategic involvement. It fo15ow$ Charity Commission guidance in this matter. The systems of inlemal control are designed to provKle reasonable, but not absolute, assuran against material misstatement or loss. They Include.. - A Business Plan and an annual Budget approved by the Trustees., Management a¢¢ounts which show variance from budget and re-fore¢ast anlicipaled su11$ for the year, which are reviewed by the Trustees., and Delegation of authority and reasonable segregation of duties. Risk management The Truslees adively rev6ew the major risks, which the Trust face5 on a regular basis. Recognising ts sEe and Scope, the Tru51 has developed appropriate systems lo monilc>r and control these nsks and to mitigate any impact they way have on the Trusl's future. All actwilies are risk assessed and the Tmsl engages with ils Insurers to ensure that adequate assessment has been completed and appropriate ¢over is in place. Approved by the Board ofTrusleeslDirectors on 28 September 2024 and signed on its behalf by.. rustee Page 4
INDEPENDENT EXAMINER'S REPORT T DEF RDWO D COMMUNITY TRUST THE TRUSTEES OF Indopondent examine5 report to the trustees of Mudgford Wood Community Trust I'ttrte Company'l I report lo the charity Iruslees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibllltles and basls of report As the charity's trustees of the Company land also its directors for the purposes of wmpany lawl you are responsible for the preparation of the accounts in accordance with the requiremen15 of the Companies Act 2006 I'the 2006 Act). Having satisfied myself that the accounts of the Company are not required lo 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 accounts as carried out under Section 145 of the Charities Acl 2011 I'lhe 2011 Act'l. In carrying out my examination I have followed the Direcb'ons given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have ¢ome to my attention in Gonnection with the examination giving me cause lo believe.. accounting records were not kept in respeGI ol the Company as required by Sedion 386 of the 2006 Act,. or the accounts do not accord wrth those records., or the aceounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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", or the accounts have not been prepared in accordan¢e with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Terence L Smith Terence L Smith & Co Chartered Accounlanls 38a Slalion Road New Milton Hampshire BH25 6JX 28 September 2024 P2ge 5
MUDEFORD WOOD COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds Unreslrieted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1,754 1,754 1,380 Other trading activities Investment incorne Other income Total 564 7,099 119802 129,219 564 7,099 119802 129219 273 2,229 102 769 EXPENDITURE ON CharStable actlvltlès Charitable Activities 121,673 10,359 132,032 105.514 NET INCOMEIIEXPENDITUREI 7,546 110.3591 12,8131 12,7451 RECONCILIATION OF FUNDS Total funds brought forward 312,319 145,019 457,338 460,083 TOTAL FUNDS CARRIED FORWARD 319,865 134,660 454,525 457,338 The notes form part of these financial statements Page 6
MUDEFORD WOOD COMMUNITY TRUS 1 March 2024 2024 Total funds 2023 Totsl fvnds Unrestricted lund Restricted fund Ngles FIXEDASSETS Tangible as5et5 27,353 134,660 162,013 176,375 CURRENT ASSETS Debtors Cash at bank and in hand 10 13,743 291,921 13.743 291,921 13,945 279,490 305,$64 305,664 293,435 CREDITORS Amounts falling due within one year 113,1521 113.1521 112,4721 NET CURRENT ASSETS 292,512 292,512 280,963 TOTAL ASSETS LESS CURRENT LIABILITIES 319,865 134,660 454,525 457,338 NET ASSETS 319,865 134,660 454,525 457.338 FUNDS Unreslricled funds Restricted funds 12 319,865 134,660 312,319 145,019 TOTAL FUNDS 454,525 457,338 The charitsble company is enb'lled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the MpanY to obtain an audit of ts financlal statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The Iruslees acknowledge their responsibilities for lal ensuring that the eharrtable company keeps accounting records that Comply with Sections 386 and 387 of the Companies Act 2006 and pparIng financial slalements which give a Ir(*e and fair view of the stale of affairs of Ihe charitable company as al the end of each financial year and of its surplus or defi¢il for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the CDmpanie5 Act 2006 relating to financial statements, so far as appli¢able to the charitable company. Ibl These financial statements have been p¥epa d in accordance with the provi5iOn5 applicable to charitable companies sybject lo the small companies regime. The financial stslemenls were approved by the Board of Tru51ees and authorised for issue on 28 September 2024 and were signed on ils behalf by.. Paul Hilliard- TTUStee The notes fomi part of these financial statements Page 7
MUDEFORD WOOD COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basls of preparing the financial $tstements The financial statements of the chanlable company, which is a public benefit entity under FRS 102, have been prepared in aecordance with the Charities SORP IFRS 1021 'Accounling 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 1 January 20191., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial Slalemenls have been prepared under the historical cost convention. Income Grants and donations are accounted for as they are received. All other income including income lax recoverable on gift-aid donations is recognised in the Statement of Financial Activities ISOFAI onoe the charity has enlitlemenl to the funds, it is probable that the income will be received and the amount an be measured reliably. Expenditure Liabilities are recognised as expenditure as goon as there is a legal or constructive obligation commilling the charity to that expenditu, il 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly allributed lo particular headings they have been allocated lo activities on a basis consislenl with the use of resources. Leasing Rentals paid under operating leases are charged to the SOFA on a straight line basis over the term of the lease. Tanglble flxed a88ets These are capilalised if they can be used for more than one year and cost at least £500. Leasehold land & buildings are depreciated over the period of the lease, being 20 whole years from March 2018, and fixtures and fittings over 4 years,. once they are pul into operational use. Taxation The charity Is exempl from corporation lax on ils charitable aclivilies. Fund a¢¢ounting There are fvlo funds held, namely the Restricted Income Fund and the General Purposes Fund. The Restricted Income Fund comprises of £134,660 (2023 £145.0191 for the Centre's phase 2 development. The General Purposes Fund of £319,86512023 £312,319} includes £100,000 for the all weather pitch, £20,510 toward several capital projects within the 5 year strategic plan, £21,250 for emergency capital maintenance, £86,000 strategic reserve as per Charity Commission guidelines and £90,000 free cash. Penslon cosls and other p08t-relirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable lo the charitable companls pension scheme are charged lo the Statement of Financial Activities in the period lo which they relate. Page 8 continued..,
MUDEFORD WOOD COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024 DONATIONS AND LEGACIES 2024 2023 Donations Grants 921 833 1.380 1,754 1,380 Grants received, included in the above, are as follows.. 2024 2023 Other grants 833 OTHER TRADING ACTIVITIES 2024 2023 Other Income 564 273 INVESTMENT INCOME 2024 2023 Interest ReiVed 7.099 2,229 NET INCOMEIIEXPENDITURE) Net incomellexpendilurel is slated after chargingllcredilingl.. 2024 2023 Depreciation - owned assets 17,906 19.474 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses During the year one trustee wa5 Teimbursed expenses of £3.154 for cleaning costs. Page 9 continued...
MUDEFORD WOOD COMMUNITY TRUST NOTES TO THE FINANCSAL STATEMENTS - contlnued for the Year Ended 31 March 2024 STAFF COSTS 2024 2023 Wages and salaries Other pension costs 26,536 387 18,383 26,923 18,383 The average monthly number of employees during the year was as follows.. 2024 2023 Administration No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fulld Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 1.380 1,380 Other trading activities Investment income Other income 273 2,229 98,887 273 2.229 98,887 Total 102,769 102,769 EXPENDITURE ON Charitable activitle5 Charitable Activities 95,1S5 10,359 105.514 NET INCOMEIIEXPENDITURE 7.614 110,359) {2,7451 RECONCILIATION OF FUNDS Total funds brought forward 304,705 155.378 460,083 TOTAL FUNDS CARRIED FORWARD 312,319 145,019 457,338 Page 10 Continued...
MUDEFORD WOOD COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Computer equipment Totals COST At 1 April 2023 Additions 240,747 108,713 349,460 3.544 3,544 At 31 March 2024 240,747 108,713 3,544 353,004 DEPRECIATION At 1 April 2023 Charge for year 72.222 12,037 100,863 4,983 173,085 17,9D6 886 Al 31 March 2024 84,259 105,846 886 190,991 NET BOOK VALUE Al 31 March 2024 156,488 2.867 2,658 162,013 Al 31 March 2023 168,525 7,850 176,375 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors Prepayments 11,605 757 1.381 12,246 1,370 329 13,743 13,945 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security and other taxes VAT Other creditors Accrued expenses 5,786 463 4,095 123 2,685 5,430 267 4,125 2,650 13.152 12.472 12. MOVEMENT IN FUNDS Net movement in fund5 Al 31.3.24 At 1.4.23 Unrestricted funds General fund 312,319 7,546 319,865 Restricted funds Restricted funds 145,019 (10,359} 134,860 TOTAL FUNDS 457,338 12,8131 454,525 Page11 Continued...
MUDEFORD WOOD COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnuod forthe Year Ended 31 March 2024 12. MOVEMENT IN FUNDS- continued Nel movement in lunds, included in the above aTe as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 129,219 1121,6731 7,546 Re$tricted funds Restricted fvnds 110,3591 110,3591 TOTAL FUNDS 129,219 {132,0321 12,8131 Comparatives for movement In funds Nel movement in funds Al 31.3.23 At 1.4.22 Unrestrlcted funds Genera1 fund 304,705 7,614 312.319 Restricted funds Restricted funds 155,378 110,359) 145,019 TOTAL FUNDS 460,083 12,7451 457,338 Comparative nel movement in funds, inclL¢ded in the above are as follows.. In¢oming resources Resources expended Movement in funds Unrestrl¢ted funds General fund 102.769 195,155) 7,614 Restricted fundg Restricted funds 110,3591 110,359} TOTAL FUNDS 102,769 1105.514) 12,745} Page 12 continued...
MUDEFORD WOOD COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued forlhe Year Ended 31 March 2024 12. IJEOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Al 31.3.24 At 1.4.22 Unrestrlcted funds General fLJnd 304,705 15,160 319,865 Restricted funds Restricted funds 155.378 120,718) 134,660 TOTAL FUNDS 460,083 15,5581 454,525 A current year 12 months and prior year 12 months combined nel movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 231,988 1216,828) 15,160 RestrScted funds Reslricled funds 120,7181 120,718) TOTAL FUNDS 231,988 1237,5461 15.5581 13. CAPITAL COMMITMENTS 2024 2023 Contracted bul not provided for in the financial statement5 98,000 14. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2024. Page 13