2023-02-28-accounts - Bowthorpe Community Trust

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Company Registered Number 07955554

BOWTHORPE COMMUNITY TRUST

(A charitable company limited by guarantee) Charity Registration Number 1147049

UNAUDITED

REPORT AND ACCOUNTS

YEAR ENDED 28 FEBRUARY 2023

Bowthorpe Community Trust Report and accounts Contents

	Page
Company information	1
Trustees' report	2-4
Independent examiner report	5
Statement of Financial Activities	6
Balance sheet	7
Notes to the accounts	8-9

Bowthorpe Community Trust Company Information

Trustees

M. Elvin B. McGrath R. Hinton Mike Sands

Accountants

Certax Accounting (Central & East Norwich) Ltd Regus UK Cavell House, Stannard Place Norwich Norfolk NR3 1YE

Registered office

St Michael's Workshop Bowthorpe Hall Road Norwich Norfolk NR5 9AA

Registered number 07955554

Charity Registration Number

1147049

Bowthorpe Community Trust Charity Registration Number: 1147049 Company Registered Number: 07955554 Trustees Annual Report For the Year Ended 28 February 2023

The trustees present their report and unaudited accounts for the year ended 28 February 2023.

Structure, Governance and Management

Governing document

Bowthorpe Community Trust is a charitable company limited by guarantee. The Company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association.

In the event of the company being wound up, members are required to contribute an amount not exceeding £1. At 28th February 2023, there was one of such members

Trustees

For the purpose of the Companies Act, the following trustees were the directors of the company:

B. McGrath

The other trustees who served during the year were: M. Elvin R. Hinton Mike Sands

The trust is controlled by a board of trustees.

Trustees' Responsibilities

The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (GAAP)

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the net incoming resources or expenditure for the year. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;

state whether Applicable Accounting Standards have been followed subject to any

material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to

presume that the charitable company will continue in business.

Bowthorpe Community Trust Charity Registration Number: 1147049 Company Registered Number: 07955554 Trustees Annual Report For the Year Ended 28 February 2023

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Objects and Activities for public benefit

The trustees confirm that they have referred to the guidance in the Charity Commission's general guidance on public benefit when reviewing the charitable company's aims and objectives and in planning future activities.

The charitable company's objective is to advance the Christian religion on an ecumenical basis, the relief of poverty, the relief of sickness, the advancement of education and other charitable purposes beneficial to the members of the public.

Achievements and performance

It has been another strained year for St. Michael’s Workshop, with uncertainty about our future due to Godly Play orders not reaching the pre-pandemic levels, and not enough service users taking up slots available. Norfolk County Council have implemented their new pathway structure and have visited the Workshop. They were delighted in what they saw, and have been very positive about our chances of staying open. They promised they would refer new service users to us. Since then, we have had only two new service users join us, which is disappointing. We have had one service user retire. We have welcomed two new trustees

The financial statements are set out on pages 6 to 10

The charity's incoming resources for the year were £99,542

Resources expended for the year amounted to £118,945

The net incoming resources of £10,959 for the year ended 28 February 2022 has been transferred to reserves

Investment policy

The Trustees consider that the most appropriate policy for investing funds is still to hold monies mainly in deposit accounts, which meets their requirements for generating income while minimising risk and maintaining liquidity. Given the nature of the investments, the Trustees consider the return on investments to be moderate.

Bowthorpe Community Trust Charity Registration Number: 1147049 Company Registered Number: 07955554 Trustees Annual Report For the Year Ended 28 February 2023

Reserves

Total unrestricted funds amount to £128,439 (General fund £147,842 and Deficit for the year £19,403)

The policy of the trustees is to retain sufficient reserves so that in the event of a significant drop in funding the charity would be able to continue operation without a break.

The trustees are confident that future levels of income will be maintained to meet unrestricted fund expenditure

For the year ended 28 February 2023 the company was entitled to exemption from the requirement to undertake an audit under section 477 of the Companies Act 2006 relating to small companies.

This report has been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 applicable to the small companies regime.

Directors' responsibilities

The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.

Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees and signed on their behalf on 09 October 2022 by:

Bob McGrath

Director and Trustee

Bowthorpe Community Trust

Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Bowthorpe Community Trust for the year ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bowthorpe Community Trust for the year ended 28 February 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.

Certax Accounting (Central & East Norwich) Ltd Accountants Regus UK Cavell House St Crispins Road Norwich NR3 1YE

9 October 2023

Bowthorpe Community Trust Statement of Financial Activities (including Income and Expenditure Account) for the year ended 28 February 2023

Appeals and Donations Grants Attending Fees Social Services Grants Workshop Sales INCOMING RESOURCES Other operating income TOTAL INCOMING RESOURCES Workshop Subcontractor Costs Discounts allowed Merchant account fees Workshop Materials Salaries & Social Security Pensions Bonuses Entertainment (100% Business) Staff training and welfare Travel and subsistence Workshop Refreshments Rent, Rates & Insurance Repair & Maintenance Cleaning Telephone & Office Expenses Postage Stationery and printing Information and technology Subscriptions Commission & Bank Charges Insurance Workshop Equipment Depreciation Accountancy fee TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES Other legal and professional	2023 Unrestricted General Funds 976 60,554 37,635 99,165 377 99,542 219 5,757 84,754 3,925 899 - 1,142 281 5,326 - 2,672 695 4,210 267 790 499 1,926 1,340 - 3,014 995 234 118,945 (19,403)	2022 Unrestricted General Funds 3,642 59,255 65,140 128,037 43 128,080 83 227 6,979 80,716 3,315 824 1,378 241 243 4,306 1,135 3,500 903 4,723 298 828 477 1,084 1,815 540 2,291 995 220 117,121 10,959

Bowthorpe Community Trust Balance Sheet as at 28 February 2023

Notes Fixed assets Tangible assets 4 Current assets Stocks Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Total assets less current liabilities Net assets Capital and reserves General fund 7 Designated fund 8 Surplus/(deficit) for the year 9 Reserves	2023 £ 40,226 7,007 8,497 73,940 89,444 (685) 88,759 128,985 128,985 147,842 546 (19,403) 128,985	2022 £ 41,940 7,184 2,708 96,907 106,799 (351) 106,448 148,388 148,388 136,883 546 10,959 148,388

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

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

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

Bob McGrath Director

Approved by the board on 9 October 2023

Bowthorpe Community Trust Notes to the Accounts for the year ended 28 February 2023

Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.

The charitable company has revised as provided by the Companies Act, its format of accounts to include headings which are relevant to its activities thus enabling it to show a true and fair view.

Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable
charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for the beneficiaries. It includes both the costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them
governance costs include those costs associated with meeting constitutional and statutory requirements of the charity and include the cost of preparing the statutory financial statements and costs linked to the strategic management of the charity
all costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.

Fund accounting

Unrestricted funds represent the accumulated surpluses and deficits in the general fund which are available for use at the discretion of the trustees in the furtherance of the charitable company's objectives. Restricted funds are created when income is received for specific purposes and the use is restricted to that purpose.

Foreign currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Tangible fixed assets

All fixed assets are held for charitable purposes. Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Furniture and office equipment 20% straight line Plant and machinery 20% straight line Land and Buildings Nil

Bowthorpe Community Trust Notes to the Accounts for the year ended 28 February 2023

At 1 March 2022 37,226 Additions - Surplus on revaluation - At 28 February 2023 37,226 At 1 March 2022 - Charge for the year - Surplus on revaluation - On disposals - At 28 February 2023 - Net book value At 28 February 2023 37,226 At 28 February 2022 37,226 Debtors Trade debtors Creditors: amounts falling due within one year Trade creditors General reserve At 1 March 2022 Prior year adjustment Transfer from income and expenditure account At 28 February 2023 Designated reserve At 1 March 2022 At 28 February 2023 Surplus and deficit At 1 March 2022 as previously stated Transferred to General reserve Surplus/(Deficit) for the year At 28 February 2023 Other debtors	39,237 - - 39,237 36,888 1,174 - - 38,062 1,175 2,349 2023 £ 5,406 3,091 8,497 2023 685 685 2023 £ 136,883 - 10,959 147,842 2023 546 546 2023 £ 10,959 (10,959) (19,403) (19,403)	7,901 84,364 1,300 1,300 - - 9,201 85,664 5,536 42,424 1,840 3,014 - - - 7,376 45,438 1,825 40,226 2,365 41,940 2022 £ - 2,708 2,708 2022 351 351 2022 £ 164,093 - (27,210) 136,883 2022 546 546 2022 £ 23,250 (23,250) 10,959 10,959

The company, which is incorporated under the terms of the Companies Act 2006 has no share capital but is limited by guarantee. Every member is a guarantor and undertakes to contribute to the assets of the company in the event of it being wound up, such amount as may be required. Each member's liability is limited to £1.