**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
1
## **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.
2
## **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.
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**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**
4
## **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
5
## **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**|
|---|---|---|
6
## **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
7
## **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
8
## **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.
9