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2023-03-31-accounts

Charity registration number 1145717

Company registration number 07791840 (England and Wales)

CURZON CENTRE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CURZON CENTRE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees John Barnetson Anderson
Andrew David Farncombe
Jonathan Nigel Fowke
Colin Hayfield (Appointed 4 October 2022)
Mark David Richards
David Michael Saunders
Helen Elizabeth Beatrice Sharman
Dawn Anabel Southgate
Charity number 1145717
Company number 07791840
Registered office The Curzon Centre
43 Maxwell Road
Beaconsfield
Bucks
HP9 1RG
Independent examiner Keir Singleton
Evelyn Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB

CURZON CENTRE

CONTENTS

Page
Trustee's report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 13

CURZON CENTRE

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The board has pleasure in presenting its report and financial statements for the year ended 31 March 2023 which are also prepared to meet the requirements for a directors' report for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

1) To advance in life and relieve needs of young people through:

2) To establish and manage a community centre for the use of the inhabitants of Beaconsfield and the neighbourhood without distinction of sex, sexual orientation, age, disability, nationality, race or political, religious or other opinions, including use of the community centre for meetings, lectures classes or other forms of recreation and leisure time occupation in the interests of social welfare and with the object of improving the conditions for the said inhabitants.

Public benefit

To achieve our objectives for the year and planning our use of the centre, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

We endeavour to publicise to local groups and the general public the facilities available when hiring all or part of the centre.

Provision of youth services is central to the role of the Curzon Centre. Youth activities are provided on 1 evenings each week for 8-11.

The facilities at the centre are available for hire 7 days a week.

Achievements and performance

Significant activities and achievements against objectives

This year has continued return to normal service with uses of the centre increasing to a point where we are almost back at pre pandemic levels. The funds generated this year have been reinvested in the centre to provide better facilities. for all its users.

Provision of youth services has resumed. Youth services are carried out on our behalf by Hope Church. The arrangement has proved extremely successful with a high quality of youth service being delivered , We will continue to strive to offer attractive and accessible youth services.

Financial review

The Centre has two principal sources of income, hiring of facilities and grants and donations. The Centre generated £72,674 (2022: £59,296) from letting and received income from grants and donations of £7,505 (2022: £1,899). After expenditure during the year of £81,013 (2022: £52,977) cumulative funds at the end of the year decreased by £714 to £92,650 (2022: increased by £8,224 to £93,535 ). Letting and other income cover the running costs of the centre but it will be necessary to continue raising funds and applying for grants to meet the cost of providing youth services. A condition of the lease with Bucks County Council is the provision of youth services..

CURZON CENTRE

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Reserves policy

Pricing policy

There is a standard pricing list showing the hourly rates of hire for each of the available facilities which is reviewed annually. Discounts are available to charitable organisations.

Reserves policy

It is the Centre's policy to maintain reserves at a minimum of 8 months of current year's expenditure. Higher reserves will be accumulated from time to time to meet anticipated heavier than normal annual expenditure in a future year.

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 29 September 2011. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its Articles of Association. The company was entered in the Register of Charities on 1 February 2012.

The trustees who are also the directors for the purposes of company law, and who served during the year and up to the date of the financial statements were:

John Barnetson Anderson Andrew David Farncombe Jonathan Nigel Fowke Colin Hayfield (Appointed 4 October 2022) Mark David Richards David Michael Saunders Helen Elizabeth Beatrice Sharman Dawn Anabel Southgate Mr J Brown (Resigned 25 July 2022)

Recruitment and appointment of trustees

Trustees are elected by the members or co-opted by the Trustees.

Organisational structure

The board of trustees, which can have up to 10 members, administers the charity. The board normally meets quarterly. Sub-committees are formed from time to time for specific purposes. There were no subcommittees during the year.

Induction and training of trustees

New trustees undergo an orientation day to brief them on: their legal obligations under charity and company law, the Charity Commission guidance on public benefit and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity.

Relationship with related parties

There were no related party transactions to report during the year.

CURZON CENTRE

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The trustee's report was approved by the Board of Trustees.

Colin Hayfield Treasurer

30 November 2023

CURZON CENTRE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CURZON CENTRE

I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of Curzon Centre (the charitable company) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns 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 proper understanding of the financial statements to be reached.

Keir Singleton FCA Evelyn Partners (Thames Valley) Limited

22 Wycombe End Beaconsfield Buckinghamshire HP9 1NB

Dated: 30 November 2023

CURZON CENTRE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Donations and legacies 2 7,505 1,899
Charitable activities 3 72,674 59,296
Investments 4 131 6
Total income 80,310 61,201
Charitable activities 5 81,013 52,977
Net income/(expenditure) and movement in funds (703) 8,224
Reconciliation of funds:
Fund balances at 1 April 2022 93,353 85,129
Fund balances at 31 March 2023 92,650 93,353

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 7 to 13 form part of these financial statements.

CURZON CENTRE

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds		 2023
£
12,840
89,785
102,625
19,765		 £
9,790
82,860
92,650
92,650
92,650		 2022
£
2,777
87,680
90,457
9,281		 £
12,177
81,176
93,353
93,353
93,353

The notes on pages 7 to 13 form part of these financial statements.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 30 November 2023

Colin Hayfield Trustee

Company registration number 07791840 (England and Wales)

CURZON CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

The charity is a company limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

The registered office is The Curzon Centre, 43 Maxwell Road, Beaconsfield, Bucks, HP9 1RG.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting 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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements 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 charity has taken advantage of provisions in SORP for charities applying FRS 102 update bullitin 1 not to prepare a Statement of Cash Flows.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue operational existance for the forseeable and that there are no material uncertainties regarding going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general activities of the charity.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

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 must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

CURZON CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Charitable expenditure comprises those costs incurred by the charity in the deliverance of its activities and services for its beneficiaries.

Support costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity.

1.6 Tangible fixed assets

Items are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost or a reasonable value on receipt.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings

10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 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.

1.9 Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic financial Instruments” to all of its financial instruments.

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

CURZON CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

As a charity the Curzon Centre is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains act 1992 to the extent that these apply to its charitable objects. No tax charges have arisen in the charity.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.13 Trustee remuneration

No trustees or other connected persons received any remuneration or had any personal interest in any contract or transaction entered into by the charity during the year ended 31 March 2021.

2 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 7,505 725
Grants - 1,174
7,505 1,899

CURZON CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

2 Income from donations and legacies (Continued)
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Grants receivable for core activities
Government grants - 1,174
- 1,174
3 Income from charitable activities
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Lettings 63,824 52,096
Office rental 8,850 7,200
72,674 59,296
4 Income from investments
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 131 6

CURZON CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

5 Expenditure on charitable activities

Community
centre
Youth work
2023
2023
£
£
Direct costs
Staff costs
6,304
-
Depreciation and
impairment
2,387
-
Gas, water and electricity
12,326
-
Cleaning
10,576
-
Maintenance & renewals
18,598
-
Provision of Youth
Services
-
3,300
Insurance
714
-
Advertising
-
-
Miscellaneous
3,560
-
54,465
3,300
Share of support and governance costs (see note 6)
Support
20,833
-
Governance
2,415
-
77,713
3,300
Analysis by fund
Unrestricted funds
77,713
3,300
6
Support costs
Support
costs
Governance
costs
£
£
Staff costs
11,431
-
Support costs heading 1
9,402
-
Independent examination
fees
-
2,415
20,833
2,415
Analysed between
Charitable activities
20,833
2,415		 Total
Community
centre
Youth work
2023
2022
2022
£
£
£
6,304
8,956
-
2,387
2,387
-
12,326
7,312
-
10,576
3,015
-
18,598
5,468
-
3,300
-
1,650
714
1,022
-
-
1,130
-
3,560
4,149
-
57,765
33,439
1,650
20,833
15,708
-
2,415
2,180
-
81,013
51,327
1,650
81,013
51,327
1,650
2023
Support
costs
Governance
costs
£
£
£
11,431
15,326
-
9,402
382
-
2,415
-
2,180
23,248
15,708
2,180
23,248
15,708
2,180		 Total
2022
£
8,956
2,387
7,312
3,015
5,468
1,650
1,022
1,130
4,149
35,089
15,708
2,180
52,977
52,977
2022
£
15,326
382
2,180
17,888
17,888

Governance costs includes payments to the independent examiner of £2,180 (2022- £1,620) for the independent examination of the accounts.

CURZON CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Administration 1 2
Caretaker 1 1
Cleaners 1 1
Total 3 4
Employment costs 2023 2022
£ £
Wages and salaries 17,735 24,282

There were no employees whose annual remuneration was more than £60,000.

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10 Tangible fixed assets

Tangible fixed assets
Fixtures and
fittings
£
Cost
At 1 April 2022 41,349
At 31 March 2023 41,349
Depreciation and impairment
At 1 April 2022 29,172
Depreciation charged in the year 2,387
At 31 March 2023 31,559
Carrying amount
At 31 March 2023 9,790
At 31 March 2022 12,177

CURZON CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

11 Debtors

Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Accruals and deferred income		 2023
£
12,840
-
12,840
2023
£
19,765		 2022
£
2,135
642
2,777
2022
£
9,281

12 Creditors: amounts falling due within one year

13 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
General funds
Previous year:
At
General funds		 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
93,353
80,310
(81,013)
92,650
1 April
2021
Incoming
resources
Resources
expended
At 31 March
2022
£
£
£
£
85,129
61,201
(52,977)
93,353

14 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).