Company Registration Number: 07411826 Charity Registration Number: 1142865 DESBOROUGH COMMUNITY DEVELOPMENT TRUST FINANCIAL STATEMENTS AND REPORT FOR FINANCIAL YEAR ENDING ST 31 DECEMBER 2023
DESBOROUGH COMMUNITY DEVELOPMENT TRUST (A Company Limitsd by Guarantee) FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31 DECEMBER 2023 Name: Desborough Communty Development Trust Company Number: 07411826 Registered Charity". 1142865 Registered Office: 50 - 52 Station Road Desborough Northamptonshire NN14 2RS Director3: lan Anderson- Chair Belinda Humfrey Carole Rowsell Shelagh Hodder- (Secretary) John Hodder Iris Jones (resigned 5 May 2024) Helen Womer Bankers: The Co-operative Bank P.0. Box 250 Delf House Southway Skelmersdale WN8 61A Independent Examiners: Brenda Peers-Ross 29 Drrft Road Selsey Chichester West Sussex P020 OPW
DESBOROUGH COMMUNITY DEVELOPMENT TRUST (A Company Limited by Guarantee) FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31 DECEMBER 2023 INDEX Page Legal and Administrative Information Report of the Directors Independent Examinerfs Report Statement of Financial Activities Balan Sheel Accounting Policies Notes to the Accounts 10-11
DESBOROUGH COMMUNITY DEVELOPMENT TRUST (A Company Limited by Guarantee) FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31 DECEMBER 2023 Page 1 Structure, Governance and Mana9oment The trust is a company limited by guarant. registered in England, No: 07411826 and registered Charty No.. 1142865 and is constituted under Memorandum and Articles of Association, dated 22 September 2010. In 2016 the accounting reference date Ivas changed to 31 December wth both Companies House and the Charity Commission. New trustees are appointed from the membership of the Desborough Community Development Trust (the Trust) by the existing trustees after being nominated by a trustee and an interview prosS. wtth reference to the govemance document. As members new trustees are familiar Yh the aims of the Trust and therefore the induction is an infomial process where they are encouraged to spend time wtth the Chair and other trustees to understand the fomial workings of the Trust. They sign up to the coJe of conduct which details how a trustee shoukl behave when representing the trust and have access to all the board meeting minutes and other trust documentation, including financial statements to gain further insight. Any questions which arise are answered as and when required by the Chair and other trustees. Feed back from new trustees is incorporated into the induction prOs. The Board of Trustees (of which there are up to 9) m&t monthly and are responsible for the strategic direction and policy of the charty. At present the board consists of seven members from a wide variety of professional backgrounds relevant to the work of the Trust. Objectives and Activities The Trust's objectives as set out in the objects contained in the company's memorandum and articles of association are to: Promote public benefit through regeneration of Desborough by creating training and employment opportunities by the provision of Workspa for use on favourable terms, providing training and retraining (particularly for the unemployed) through courses and work experience, and by the provision of advice and assistan (financial, technical. or business)- Maintain and provide public amenities, where possible through the preservation of locally important historic buildings, support local groups in whatever way possible to benefrt the town.
DESBOROUGH COMMUNITY DEVELOPMENT TRUST IA Company Limitod by Guarantee) FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31 DECEMBER 2023 Page 2 To improve and support the town to be a vital and foNrfard-looking place where people, residents, and visitors alike, want to be. The trust will work to encourage a robust local economy in an inclusive community. To achieve these objectives, the strategic aims and related activty areas of the Trust are to= Consult and communicate with residents and stakeholders Enable the provision of communty servi$ and facilities Ensure sustainable town ntre regeneration Develop social, economic. and environmental initiatNes Public Benefit Statement The focus of the Trust's work is to provide a community anchor to which other groups and individuals can apply for grants, assistance, and advice. Achievements and Perforniance The Trust continues to attract new volunteers, and has a good record of retaining volunteers, all of whom do a magnificent job of manning the shop. proSSIng donations, cleaning, and helping customers in any way they can. We have continued to make furtkEr improvements to the shelving in the shop and have added new smoke alanns. We continue to provide opportunrties to young people to gain work experience in the shop, and to provide a safe and welcoming work environment to all our volunteers. Their contributions, and those of our donors. are rewarded by the knowledge that their efforts are supporting many more people in our community Financial Review Trading has now retumed back to pre-pandemic levels and 2023 has proved to be our second-best year ever for sales. The work of the organisation continued with grants being offered and assistance given to those in special need of our help. The Trust has awarded grants totaling £23,520 to 21 communty groups and 3 individuals in need in Desborough during 2023. We have begun to pay some of the regular grants that were previously delayed due to COVID. The purchase of the shop has been frustratingly slow, largely caused by long delays in getting the property recorded on the Land Registry. We continue to work through these delays where possible. Meanwhile, we continue to increase our cash reserves to ensure that we have sufficient funds to purchase the property, and then to refurbish the flat ready for letting.
DESBOROUGH COMMUNITY DEVELOPMENT TRUST (A Company Limited by Guarantee FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31 DECEMBER 2023 Page 3 Governance Policies We are continuing to review and develop our govemance policies to reflect the current legal requirements and to ensure the highest possible standards in the way the Trust is run. The Trust is progressing well with completing a Disclosure and Barring Service (DBS) check for each of the trustees and volunteers to ensure that effective safeguarding is paramount wtthin the organisation. Plans for the Future The Trust has continued to make slow progress towards purchasing our Shop building and the flat above. The money that was previously spent on paying rent to landlord will now be used to make the purchase through a bank loan. The flat will be refurbished and let out to provide an additional income stream. This will also allow us more freedom to invest in improvements to the building to improve the shop and to save money on running costs through insulation and more economical heating. The 1940s Day in September, and the Gala Night in November, both help to promote the shop and each year we see a surge in business. We are looking at how we might have similar themed days earlier in the year. The Trust is planning to refurbish the exterior of the shop arKI to make essential repairs to the shop frontage during 2024. Reserve8 Policy The current reserve policy is to maintain sufficient cash flow for known commitments, and the replacement of certain assets.
DESBOROUGH COMMUNITY DEVELOPMENT TRUST (A Company Limitsd by Guarantse) FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31 DECEMBER 2023 Page 4 DIRECTORS, RESPONSIBILrriES IN RELATION TO THE FINANCIAL STATEMENTS The directors are required by company law to prepare financial statements for each financial year, which gives a true and fair view of the financial activities of the company and of its financial position at the end of the period. In preparing those financial statements the directors are required to.. Select suitable accounting policies and apply them consistently Make judgements and estimates that are reasonable and prudent State whether the policies adopted are in accordance with the Companies Act 2006 and with applicable accounting standards and statements of recommended practi, subject to any material disclosed and explained in the financial statements Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in operation Make themselves aware of any infomiation relevant to the audit, establish that the company's auditors are aware of that infonnation and that as far as the directors are aware, there is no infonnation relevant to the audit of which the company's auditors are not aware. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company, hen taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the directors at a management meeting held on 18 September 2024, and signed on their behalf by: lan Anderson ChairlDirector
Br•nda Peers-R088 29 Drift Road Selsey Chichester West Sussex P020 OPW Independent Examiner's Report to the Trustees of: DESBOROUGH COMMUNITY DEVELOPMENT TRUST Reglstered Charity NUmr. 1142865 I report on the accounts of the company for the year ended 31 Oecember 2023 which are set out on the attached pages 6 10 11. Respective responsibilities of trustees and examiner The Iruslees (who are also the directors of the Company for the purposes of company lawl a responsible for the preparation of the accounts. The trustees cOnser that an audit is not required for this year under Part 16 of the Companies Act 2006 (the Act) and that an independent examination is needed. Page 5 Having sabsfied mysew that the company is not subject to an audrt under company law and is eligible for independent eXaminatn, rt is my responsibilty to". examine the accounts under section 145 of the charib.es Act 2011.. follow the procedu5 la down in the general Directy"ons given by the Charity Commission {under sectK>n 145151(bl of the ACL as amended," and state whether matters have come to my attention. 8a$is of independent examinerfs slatement My examination was carried out in accordance with general Directions given by the Charity Commission. An examinab.on includes a review of the accounting records kept by the charity and a comparison of the accounts presented wrth those records. 11 also includes considerab.on of any unusual Items or disclosures of the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undert2ken do not provide all the evidence that would required in an audrt, and consequenuy no opinion Is given as to whether the accounts present a "true and fair vM¥," and the pOrt 15 limrted to those matters set out in the ststement below. Indopendent Examinerfs statement I have completed my examination. I confirm that no matters have Come to my attention in connection with the examination yiving me cause to believe that in any material respect.. accounting records not kept in accordance with the Companies section 386 of the 2006 Act.. or the accounts do not accord wth these records". or the accounts do not comply wrth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination. or the accounts have not been prepared in 8ceordance with Ihe methods and principles of the Statement of Recommended Pract for accounty.ng and reporb'ng by chanties appIab to Charits preparing their accounts in aOrdanCe with the Finanoal RepO"n9 Standard applicable in the UK and Republic of Ireland IFRS 1021 Brenda Peers-Ross FMAAT, ACIE 27th September 2024
DESBOROU MUNITYDEVELOPMENf TRUST (A companyMItd By Gu8ran188) P8g• fj srAfEIIENT OFFIIIAIICIAL ACTM7IES FOR THE YEAR EIIDED JI DECEAI8ER 2023 Compony or. 07411828 2023 2022 L)Onal)$ Chanlable Actr¥ib8S Invests8ftts 1.034 fI).C5 65,T16 1,493 65.716 1.493 61.183 61.183 Expondltvm on." Raising Funds Charitobb Other 46,166 46.166 38.238 38,238 Tot•lE¥pendilurn Trnnslerb8h¥Een NetmOVeftw offvnds 22,782 22,782 22,945 22.945 Total Iu17dsl)muglitforward 131.707 131.707 108.762 108.762 Tot•1 funds e•rrfodfonw•rnT 154489 154489 131.707 137.707
DESBOROUGH COAIIIUNITY DEVELOPMENT TRUST (A Company Limiiod By Guarant881 BALANCESIIEAs A T31 DECEMaER Z023 ¢thnnY Number: 07411826 Z023 2022 Flx•dAssets Cuff8ntAssets Debtors Cash atb8nk 8nd h8nd 2.415 2.415 159.738 f59.T38 139.421 139,421 Amounls *711wn on8 ye8r 5.249 (5.249) 714 17.714) 714 17,714) (5.249) N•tCvn•ntAssets 131 707 131707 NET ASSETS 131 707 FUNDS Tgt•l 2023 i.489 Tolal 2922 131.7Q7 Unr8slrict8d fvnd8 Restrict8d 154.489 131.707 131 707 131 707 sectKn 477ofÈhe Att2f (i? the memb8rshev6 nc4 mq(Nr•dthe •ytD r4¥ clits •xvJrtstsllJ8 0)mp8n$ ¥vrthin th8 Art2r Approv8d by lh8 Bo8rd of Trust8es at8 Man•J8ntnIry h8fiY CYJ 1811> Sen2024. OnLI STr8d on th8ir b8h81fby' Ian Anders
DES80ROU OMAIUNifYDEVELOPAIENT TRUST IA Company tsmrteLIBy Guar¥nt6eJ FOR THE YEAR ENDED 31 DECEMPER 3W23 Th8 fin8n¢ISt8t8rnSnIS oflh8 Cwpany. L¥hKh Is opuNrbenefft enty underFRS102. have be8n ppaa underlhe htsloric8lG&st conv8nbDn 8nd in (lanc¥ CwnsAd 2006 and Ihe statennI ofR8cornm8nd6d Pradico S0RP(FRsIJ Isl O¢trAw2019. 8Ff4K8bl8 UK ACcyting Standa$ and Ihe Chaiili6s Act2011. Th8 companyh8S taken 8(fvant6 orth&m)s$ olthe CThwiesAct 2(andpSentsd an income and expenditur8 8ccount in lh8 fL¥m of a Stat6mgni of FinwKralA¢&wis tyj ts hVDunds thatiten8t8S Ilre )fn8ni sl8f8ments to sh(wa anLI fèir vitiwoflhe Trsultfyltsye8r. Fund•¢¢oundng G6nernl funds a unr881nct8d fvnds Lthich 8V8fflabl8 fvusg at th"scYgtK¥J ofthe &)& ol Trnstees in Putposes. Deswat8d fvnds unTrStri1ffuIS that8 Lwi selèsth by the Boanj OfTwsleas forpaitthlar pUryAS. Th8 8im and L¢se of d8swnat8d funds is set Lxrt fft)tes to Ihe financial Slatnts. Re8triGted funds funds w¢Jich 8rB to i u$6din aOxdae restr#Kts by lh8 donors or whth hav8 InC¢ing rnsovrt•s Volunt8ryirtome &nd donalN)ns a rncluded M? $rS Jen tsygre r8ceivable and the anx)urt C8n b8 quantffj8d TrasJnabl8 6Ul&Y. Gtsnts am broughtinto acc(wnl ftpceivable babrys. All 8xfy8ndtiure is 8CCOUnt8d foron 8n 8crruals ba 8rnlhas ten cla5sffjl underlwthngs thataggwat8 allcosts relaled to the tey. Exp8nditurg is st8t8dmlUO of v8lue t8X. T8ngib18 Fix8dAss8ts forL¢se by lh8 Chanty aTr cyt4lis8d rflh8ycan b8 th8n cost 8t 188st £300, Ih6y8r8 valusd al cY)st. D8pr8that is cèkulgt6d to rte Ltyo tx)sl (valuatvyJ of011 tarw fix1 assets 8x6W)eh0{d 18ndby equal annual1nstalts over lh8 USeftlI$. sweralty aWKable aTr. Cryt&requjpn % per8nnum on cost Fix1u5 and 59 % perannum cY)st Intangible income, in tt)e fom ofdonat8d ènd Voluntary1 8tC., 15 tInc1d fft18noalstotements n¢e itis not considerndwacbcèble to quantsfysudj incL¥ne. R18k The DireCtor of Trnsl8&s do not bel¥? lh8 Lwis81ft)n ts suwtlo any Svbstantsaliisk Ihose disdosed fft Ihe Annu&lReK¥xtand Acwunts. The org8nis8tson h8s insL¢f8nc8 los¥otfjdJtin the ¢as& of a da4n.
80ROUGH COAIMUNITYDEVELOPAIENT TRUST IA Cofflp8ny Mrte08Y Guawtee) IIOTES TO THEACCOIJNFS 2022 65, 59,541 Fundrnsing 372 3T2 - R8nbR81es SITop. H88t & Lyht SlJop- Water Rates Shop- EquipThnt Shcp. Prcperty R&M . InsurarKe 10.843 2,232 238 2,1&3 10,843 2,232 238 2, 183 130 10,601 1,6Qi 203 1,023 779 gTI 816 559 16,086 50T Slry- Gtsneralexpens Don8lions lo ¢*hergroups S1&1wry/TeleplS 23.520 672 23.520 672 Insur8rKe Events expens85 Legal 8ndProlÈss#If8OS 87 1,295 182 1.240 1,419 Olh8rExpenses Governance costs Ind8P8ndent ExaminalKVTr 2,015 2,015 360 540
DESBOROUGH COAIMUNITYDEVEL ENT TRUST IA Company bmrt8é By Guaranleej Pwfo 1107ES TO THEAccOlYS 14monJ 2023 2022 Cost TLX) 1.3CXI A&11($ sals 7C 7CX) Cm8d fforwarLI PhtBoo V*lu• B818nc& at 31.1222 Balw)ce at31.12.23 2022 1.040 1,040 2464 Trade Accruats (4.488) 61 (4,488) 61 (6.932J 782 2023 8alance B•l•n¢• 31.12.23 01.01.23 131.707 131 707 68.948 46 166 154,489 2022 ..22 Jf.IZ22 UnmstnGted fund¥ 108 762 61 183 131707 331707
DESBOROUGH COMAIUNITYDEVELOPAIENT TRUST (A Corno8nyknwrted By Gu8r8nt681 NOTES ro ThEACCOUNTS zo Bal8n¢e 01.01.23 betten B•lanc• 31.12.23 2022 B•lnce 01.01.22 31.1122 R•ltsd Party There are no relabj trar6acknB Ct)r or In 2022. al lh8 frDntof Ihe fin8ncialst8t8llWts