2022-07-31-accounts - Maybury And Sheerwater Community Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Company Registration No. 7722947 Charity Registration No. 1145217

Maybury and Sheerwater Community Trust

Report and Financial Statements

For the year ended 31 July 2022

Maybury and Sheerwater Community Trust

REPORT AND FINANCIAL STATEMENTS 2022

CONTENTS	Page
Trustees	1
Trustees' report	2
Statement of financial activities	4
Balance sheet	5
Notes to the accounts	6

Maybury and Sheerwater Community Trust

REPORT AND FINANCIAL STATEMENTS 2022

TRUSTEES AND PROFESSIONAL ADVISERS

TRUSTEES

Mr. M Archer Mrs. T Francis Mrs. C Steele Mrs C. Young Rev G. Holland Rev N. Hutchinson

COMPANY SECRETARY

Mr. M Archer

REGISTERED OFFICE

St. Paul’s Church Oriental Road Woking Surrey GU22 7BD

Maybury and Sheerwater Community Trust

TRUSTEES’ REPORT

The trustees, who are also directors of the company, submit their annual report and the financial statements for the year to 31 July 2022. The trustees have adopted the provisions of the Statement of Recommended Practice “Accounting by and Reporting by Charities” (Charity SORP FRS 102) in preparing the annual report and financial statements of the charity.

CONSTITUTION

The charity is a registered charity and a company limited by guarantee and is governed by its memorandum and articles of association. The company was incorporated on 29 July 2012 and registered as a charity on 22 December 2011.

CHARITABLE OBJECTS

The charitable objects of the company are:

To promote the physical, mental and spiritual wellbeing of the inhabitants and community of Maybury and Sheerwater in Woking, Surrey and environs.
To carry out these objectives for the benefit of the communities of Maybury and Sheerwater in Woking, Surrey and environs without distinction to race, gender, political, religious or other opinions of the members of such community, as an expression of Christian faith .
To co-operate with other charities and organisations to achieve common goals in synergy with the above aims.

ACHIEVEMENTS & PERFORMANCE

The Mascot Hub in Sheerwater and the activities in Maybury continued to offer a range of services faceto-face, online, by telephone or by mail through the times of Covid restrictions, while taking great care. The heightened uncertainty and challenging environment have made some of these services even more valuable, and users have been particularly appreciative. Martin Smith, who spear-headed our efforts in Maybury, retired at the end of July, and the trustees are considering the appointment of a worthy successor.

FINANCIAL REVIEW

During the year the charity received incoming resources of £32,595, with total resources expended amounting to £30,069 resulting in a surplus in the year of £2,526. There are unrestricted accumulated reserves of £16,358.

Woking Borough Council renewed their grant to Mascot for the year between April 2021 and March 2022 of £28,700, and again for the year to March 2023. Since the beginning of Mascot Woking Borough Council have provided the premises in Dartmouth Avenue rent free until they would be demolished as part of the Sheerwater regeneration. While no date is yet firmed up, this demolition is nearing. The plan is that Mascot will move into the new St Michael’s Community Centre once this is built in 2023, at which point Mascot will need to pay rent and contribute to the running costs of the site. The trustees are considering options for how this will be financed.

RISK MANAGEMENT

The Trustees are responsible for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.

Maybury and Sheerwater Community Trust

TRUSTEES’ REPORT

The Board acknowledges that inability to raise funds is the biggest long-term risk the charity faces. In conjunction with the reserves policy the Board manages this by ensuring that the charity does not commit future funds in excess of current reserves.

RESERVES

Average outgoings for the last three months of the year amount to £2,358 per month. The Trustees consider it appropriate to ensure its reserves remain above £9,000 at all times. Current unrestricted reserves are £16,358. This will be reviewed as operations develop.

PUBLIC BENEFIT

The Trustees have had due regard to the guidance issued by the Charities Commission on public benefit when reviewing the charity’s objectives and planning future activities.

TRUSTEES’ RESPONSIBILITIES

The charity trustees (who are also the directors of the company) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards.

Company law and the law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the income and expenditure for that period. In preparing financial statements, the trustees should follow best practice and:

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 operation;
state whether the policies adopted are in accordance with the Companies Act 2006, applicable accounting standards and the Statement of Recommended Practice “Accounting and Reporting by Charities” (FRSSE SORP2015), subject to any material departures disclosed and explained in the financial statements.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Memorandum and Articles. 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.

SMALL COMPANY EXEMPTIONS

This report is prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.

By order of the Board

M. M. Archer

Trustee and Company Secretary 10 October 2022

Maybury and Sheerwater Community Trust

STATEMENT OF FINANCIAL ACTIVITIES Incorporating an Income and Expenditure Account Period Ended 31 July 2022

There are no recognised gains or losses other than those shown in the statement of financial activities. All of the above results are derived from continuing activities.

Incoming Resources Voluntary Income - donations Investment Income - bank interest Total incoming resources Resources Expended Charitable expenditure Total resources expended Net (deficit) / income for the year Fund balance brought forward at 1 August Fund balance carried forward at 31 July	2022 2021 £ £ 0 0 0 0 0 0 0 115 0 115 0 (115) 0 115 0 0 Restricted	2022 2021 2022 2021 £ £ £ £ 32,593 33,074 32,593 33,074 2 0 2 0 32,595 33,074 32,595 33,074 30,069 31,039 30,069 31,154 30,069 31,039 30,069 31,154 2,526 2,035 2,526 1,920 13,832 11,797 13,832 11,912 16,358 13,832 16,358 13,832 Unrestricted Total

Maybury and Sheerwater Community Trust

BALANCE SHEET 31 July 2022

CURRENT ASSETS Cash at bank and in hand NET ASSETS FUNDS General Fund –unrestricted Restricted Fund NET ASSETS	2022 2021 £ £ 16,358 13,832
	16,358 13,832
	16,358 13,832 0 0
	16,358 13,832

Audit Exemption Statement

For the year ending 31 July 2022, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts ,
these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime .

These financial statements were approved by the Trustees on 10[th] October 2022.

Signed on behalf of the Trustees

M.M. Archer Trustee and Company Secretary

Company Registration No. 7722947

Maybury and Sheerwater Community Trust

1. ACCOUNTING POLICIES

The principal accounting policies, all of which have been applied consistently throughout the period, are:

a) Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” (FRSSE SORP 2015) and applicable United Kingdom law and accounting standards. They reflect only the revenues, transfers and expenditures of the charity.

b) Company status

The charity is a company limited by guarantee. The charity has availed itself of the exemption available and has amended the format of accounts to reflect the special nature of the charity’s activities.

c) Fund accounting

General funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

d) Resources expended

Charitable expenditure comprises expenditure related to the direct furtherance of the charity’s charitable objectives. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with use of the resources.

e) Income and Expenditure Recognition

All income and expenditure is accounted for on a receipt and payment basis.

f) Taxation

As a registered charity, Maybury and Sheerwater Community Trust is exempt from taxation of income and gains within section 505 of the Taxes Act 1988 or section 256 of the Charities Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charge has arisen in the year.

2. CHARITABLE EXPENDITURE

Charitable expenditure includes the following direct costs of activities:

Sundry administrative expenses	2022 2021 £ £ 30,069 31,154
	30,069 31,154