Company Registered Number 07955554 BOWTHORPE COMMUNITY TRUST (A charitable company limited by guarantee) Charity Regtstration Number 1147049 UNAUDITED REPORT AND ACCOUNTS YEAR ENDED 28 FEBRUARY 2025 Bowthorpe Community Trust Report and accounts Contents Page Company information Trustees, report Independent examiner report Statement of Financial Activities Balance sheet 10 Notes to the accounts 11-13 Bowthorpe Community Trust Company Inforrnatlon Trustees M. Elvin B. McGrath R. Domek L. Hewson Mike Sands Godwin Unazi Accountants Certax Accounting (Central & East Norwbch) 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 2025 The trustees present their report and unaudited accounts for the year ended 28 February 2025. 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 28 February 2025, 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. Domek L. Hewson Mike Sands Godwin Unazi 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 jud'gements 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 financFal statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 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 cornply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for tsking 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 perfomiance It has been another difficult financial year for St. Michael's Workshop with a drop-off of orders and increasing costs. It was with great sadness that the Trustees took the difficult decision to close the Workshop due to these two factors - lack of orders and spiralling costs. This meant that we had to make our five employees redundant, and it left our Service Users without a day care centre. Many of them had been at St. Michael's Workshop for over thirty years, so it was a bitter blow for them, as well as for the staff. Although we had hoped to ride out the cost-of-living crisis and overcome major increases in the cost of matertals, the harsh reality of our finances meant we were unable to sustain the Workshop any longer. After almost forty years of service to the community, to the Godly Play nebNork, and to the wider community of adults with learning difficulties, the Workshop closed its doors on 26th June 2024. The Trustees are now looking at other ways to serve the community and are talking to interested parties about the use of the building. The financial statements are set out on pages 8 to 13 The charity's incoming resources for the year were £41,136 Resources expended for the year amounted to £92,885 The net outgoing resources of £51,750 for the year ended 28 February 2025 has been transferred to reserves Reserves Total unrestricted funds amount to £59,982 (General fund £111,732 and Deftcit for the year £51,750 For the year ended 28 February 2025 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 bustness. 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 on14 November 2025 by: Bob McGrath Director and Trustee Bowthorpe Community Trust Chartered Accountants, report to the board of directors on the preparation of t_he unaudlted statutory accounts of Bowthorpe Communlty Trust for the year ended 28 February 2025 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 2025 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 cf the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.comlmembershandbook. Our work has been undertaken in accordance with AAF 2110 as detailed at icaew.comlcompilation. Certax Accounting (Central & East NopNich) Ltd Accountsnts Regus UK Cavell House St Crispins Road Norwich NR3 1YE 14 November 2025 Bowthorpe Community Trust Statement of Financial Actlvitles (including Income and Expenditure Account) for the year ended 28 February 2025 2025 2024 Unrestricted General Funds Unrestricted General Funds Appeals and Donations Grants Attending Fees Social Services Grants Workshop Sales 1,717 476 26,513 11,403 74,796 49,372 INCOMING RESOURCES 39,633 124,644 Other operating income 1,503 1765 TOTAL INCOMING RESOURCES 41,136 -126,409 RESOURCES EXPENDED Discounts Allowed Workshop Materials Salaries & Social Security Redundancy C05t Pensions 379 2,645 69,435 5,250 2,331 523 6,407 94,485 4.439 1,422 447 234 319 3,950 1,074 1,423 712 Bonuses Staff Training and Welfare Travel and Subsistence Workshop Refreshments Rent & Rates Repair & Maintenance Cleaning Telephone & Office Expenses Postage Stationery and Printing Information and Technolog Subscriptions Commission & Bank Charges Insurance Depreciation Accountancy Fee Other LegaL and Professional 124 74 31 5,374 50 408 907 888 149 292 344 4,541 345 752 562 3,850 1,471 3.020 1,355 449 464 1,648 80 1,626 35 Advertisement and Marketing Equipment Expensed GeneraL Expenses 107 184 60 TOTAL RESOURCES EXPENDED 92,885 131,780 NET INCOMING RESOURCES (51,750) 15,371) Bowthorpe Community Trust Balance Sheet as at 28 February 2025 Notes 2025 2024 Fixed assets Tangible assets 37,226 37,306 Current assets Stocks Debtors Cash at bank and in hand 6.180 9,666 70,558 86,404 24,928 24,928 Creditors: amounts falling due within one year (1,626) (96) Net current assets 23,302 86,308 "Total assets less current l labilities 60,528 123,614 Net assets 60,528 123.614_ Capital and reserves General fund Designated fund Surplus/{deficit) forthe year 111,732 546 (51,750) 128,439 546 (5,371) Reserves 60,528 123,614 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 ACL 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 14 November 2025 10 Bowthorpe Community Trust Notes to the Accounts for the year ended 28 February 2025 1 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 thLSS enabling it to show a true and fair view. 2 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 appEied to particular categories of ncome: 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 seNices for the benpficiaries. It includes both the costs that can be allocated directly to such activities and those costs of an indirect nature necessary to supportthem governance costs include those costs ass_ociated 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 ofthe charity aLI costs are allocated between the expendtture categories of the SOFA on a basis designed to refLect thé usè of the resource. Costs relating to a particular activity are alLocated directLy. 3 Fund accounting Unrestricted funds representthe accumulated surpluses and deficits in the generaLfund 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. 11 Leasing and hire purchase commitments Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and deprectated over their useful lives. The corresponding lease or hirè purchase obltgation is treated in the balance sheet as a liability. 4 Tangible fixed assets All fixed assets are held for charitable purposes. Tangible fixed assets are measured at cost less accumulative deprectation and any accumulative impairment losses. Depreciation has been provFded at the following rates in order to write off the assets over their estimated useful lives. Furniture and off ice equipment 200/0 straight line Plant and machinery 200h straight line Land and Buildings Nil Plant and machinery etc Furniture and office equipment Land and buildings Total Cost At 1 March 2024 Additions Surplus on revaluation At 28 February 2025 At 1 March 2024 Charge for the year Surplus on revaluation On disposals At 28 February 2025 37,226 39,336 9,202 85,764 37,226 39,336 39,256 80 9,202 9,202 85,764 48,458 80 39,336 9,202 48,538 Net book value At 28 February 2025 at 28 February 2024 37,226 37,226 37,226 37,306 80 S Debtors 2025 2024 Trade debtors Other debtors 7,304 2,362 9,666 6 Creditors: amounts falling due within one year 2025 2024 Trade creditors Accruals 96 1,626 1,626 96 7 General Reserve 2025 2024 12 At 1 March 2024 Transfer from income and expenditure account YE adjustments through general reserve At 28 February 2025 128,439 (5,371) (11,336 111,732 147,842 (19,403) 128,439 8 Designated reserve At 1 March 2024 At 28 February 2025 2025 546 546 2024 546 546 9 Surplus and deficit 2025 2024 At 1 March 2024 as previously stated Transferred to General reserve Surplus/(Deficlt) forthe year (5,371) 5,371 {51,750) 19,403 (19,403) (5,371) At 28 February 2025 51,750) (5,371 The company, which is incorporated underthe 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 rt being wound up, such amount as may be required. Each member's liabiLity is limited to £1. 13