Registered Charity Number: 1149785 Registered Company Number: 06527314
Management Committee Report and Financial Statements For the year ended 31[st ] March 2022
Kingstanding Regeneration Trust
Contents
Legal and administrative information .................................................................................. 3 Management Committee's report .................................................................................... 4-7 Independent examiner’s report…… .................................................................................. 8-9 Statement of Financial Activities ....................................................................................... 10 Balance Sheet .................................................................................................................... 11 Notes forming part of the financial statements ........................................................... 12-19
2
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Reference and Administrative Information
Directors and Trustees:
-
Afric Crossan (resigned August 2021)
-
Des Hughes (Vice Chair)
-
Peter Kane (resigned October 2021)
-
Sue Byrne
-
Anita Ward
-
Gary Sambrook (resigned August 2021)
-
Amy Bird (resigned April 2021)
-
Denise Peach (Chair)
Company Registered Number: 06527314 Charity Registered Number: 1149785
Registered Office 1 Cottage Brookvale Park Erdington Birmingham B23 7AG
Bankers The Cooperative Bank Colmore Row Birmingham B3 3BA
For further information please contact the registered office as detailed above or:
Telephone: 0121 439 6780 Email: hello@krtbirmingham.co.uk Website: www.krtbirmingham.co.uk
3
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Trustees’ Report
The Trustees present their report and accounts for the year ended 31st March 2022. The Trustees confirm that the annual report and financial statements of the trust comply with current statutory requirements, the requirement of the trust's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities issued in March 2005.
1) Structure, Governance and Management
Method of appointment or election of Management Committee
The Management of the trust is the responsibility of the Management Committee who are elected and co-opted under the terms of the Articles of Association.
Constitution policies and objectives
The trust is registered as a Private Limited Company by guarantee without share capital use of 'Limited' exemption and was set up by a Memorandum of Association. The community based trust aims to regenerate areas in North Birmingham and provide training and support for NEET (not in education, employment or training) young people to find employment. The trust engages in fundraising and capacity building identified in our Business Plan. There have been no changes in the objectives since the last annual report.
Organisational structure and decision making
The organisation of the trust is controlled by the members of the Management Committee.
2) Objectives, Activities and Achievements
Kingstanding Regeneration Trust is a registered charity working for the benefit of residents across North Birmingham, particularly but not limited to Kingstanding, Erdington and Brookvale. KRT is governed by local activists who want to empower local residents to find solutions to local problems together. A continuing focus for the organisation is the training of NEET young people to develop employability skills, acquire qualifications and find sustainable employment.
During this year there have been significant staff changes including the appointment of Anya Sanchez as Director, following the retirement of Karen Spence as CEO. Karen had been passionate about the growth of KRT and was its driving force from the beginning. We were delighted to promote Bradley Turner to the role of Training Manager following the retirement of the previous incumbent. Our Wellbeing Officer and Marketing Assistant moved to other organisations whilst our Community Engagement Officer’s funded post came to an end. We thank these members of staff for all their endeavours at KRT and wish them the best for the future.
4
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Trustees’ Report (continued)
2) Objectives, Activities and Achievements (continued)
An organisational restructure was undertaken to ensue KRT could continue to achieve its goals efficiently and provide the best possible service for local residents. We are delighted that all remaining team members have been moved onto updated contracts, with new job descriptions. Staff have undertaken additional training including IAG Level 2, Supervisory Role qualifications, Health and Safety certification and job specific training. Following an unsettled period whilst organisational changes were taking place, we are pleased that all staff are now feeling settled, wellmotivated and are working efficiently and enthusiastically to move the organisation forward.
A new Business Plan was written with a renewed focus on the training of young people and an aspiration to expand our reach outside Kingstanding to use our skills and experience to support young people from across Birmingham. An audit of all our policies and procedures was undertaken and Croner HR and BrightSafe Health and Safety are supporting KRT to introduce its new system of HR Management and Health and Safety management. We are pleased to ensure the highest standards are maintained in Health and Safety and HR in every area of our organisation.
After much hard work to transform the derelict Victorian building in Brookvale Park by our Training Team, we were all excited to fully move into our new offices at Brookvale Park. This space provides KRT with better office space, training facilities and much needed safe storage space. It also enables us to expand our services beyond Kingstanding and we have quickly seen the benefit of our more accessible location. A long term lease agreement is in the process of being written by the City Council.
Our Win-Win Project that provides work experience for disadvantaged young people by transforming the gardens of local elderly and vulnerable residents, free of charge, has successfully attracted funding. We are working in partnership with Witton Lodge and Age UK on this project which will see young people gain tool skills, work experience in a team on their journey towards employment.
The number of young people trained by KRT during this year was significantly lower than hoped mainly due to Covid restrictions continuing throughout this year and organisational changes. Once KRT re-opened, we experienced further setbacks when staff had to take weeks off work to isolate as they in turn succumbed to the Covid-19 virus. We were delighted to be able to welcome young people back into our program in December. Since then, 100% of trainees have gone into employment or further training following the completion of our course. It proves that the stream lining work we’ve undertaken to our training program has been successful and is ensuring trainees can gain the skills and experience they need and achieve employment, faster than before. Despite a tough year the Trustees are proud of the work achieved by KRT’s staff and delighted to see improvements to the programs for young people are achieving success.
5
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Trustees’ Report (continued)
3) Financial Review
Fundraising has been challenging this year as funders focussed their attentions on responses to Covid-19 but we continued to be well supported by a variety of local and national Trusts and Foundations, several of whom have agreed to multiyear funding agreements. We have maintained good communication with funders throughout the year.
Reserves policy
It is the policy of the management committee to work towards holding the minimum unrestricted reserves necessary to enable the Charity to meet its commitments for a minimum period of three months.
4) Statement of Management Committee's responsibilities
Company and Charity law applicable to charities in England/Wales requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for the period. In preparing those financial statements the Management Committee have:
-
Selected suitable accounting policies and applied them consistently,
-
Made judgments and estimates that are reasonable and prudent,
-
Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
-
Prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Trust will continue in operation).
The Management Committee have overall responsibility for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. These accounts have been delivered in accordance with the provisions applicable to companies subject to the small company’s regime.
6
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Independent Examiner's Report to the Trustees of the Kingstanding Regeneration Trust
I report on the accounts of the company for the year ended 31 March 2022 which are set out on pages 10 to 19.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
8
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Independent Examiner's Report to the Trustees of the Kingstanding Regeneration Trust (continued)
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
1 which gives me reasonable cause to believe that, in any material respect, the requirements:
-
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
-
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
David Webb FCA (Senior Statutory Auditor) For and on behalf of Edwards
Chartered Accountants Statutory Auditor
34 High Street Aldridge Walsall West Midlands WS9 8LZ
9
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Statement Of Financial Activities
| Note INCOMING RESOURCES Income resources from generated funds: Donations 2 Bank and other interest RESOURCES EXPENDED Charitable Activities: Projects & Activities 3 Fundraising 3a Governance Cost 4 TOTAL RESOURCES EXPENDED 5 MOVEMENT IN TOTAL FUNDS FOR THE YEAR - NET INCOME/(EXPENDITURE) FOR THE YEAR TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
Restricted Unrestricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 103,400 85,935 189,335 486,892 - - - - |
|---|---|
| 103,400 85,935 189,335 486,892 |
|
| 102,654 164,085 266,739 407,984 - - - 8,927 - 1,160 1,160 465 |
|
| 102,654 165,245 267,899 417,376 |
|
| 746 (79,310) (78,564) 69,516 118,412 52,119 170,531 101,015 |
|
| 119,158 (27,191) 91,967 170,531 |
The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on page 12 to 19 form part of these financial statements.
10
Report and financial statements for the year to 31[st] March 2022
| BalanceSheet | |||||
|---|---|---|---|---|---|
| Note | 2022 | 2021, | |||
| f | f | ||||
| FIXEDASSETS | |||||
| MotorVehicles | 17,000 | ||||
| 8 | 17,O00 | ||||
| CURRENTASSETS | |||||
| CashatBank andinHand | 76,t27 | 177,851 | |||
| 76,127 | 77\a57 | ||||
| CREDITORS-Amount fallingduewithin | |||||
| oneyear | 10 | (1,160) | (1,320) | ||
| (1,1601 | (t,320]. | ||||
| NET CURRENTASSETS | 74,967 | L70,531, | |||
| NETASSETS | 11 | ______1129? | 770,53L | ||
| TRUSTFUNDS | |||||
| RestrictedFunds | 72 | 119,158 | 118,472 | ||
| UnrestrictedFunds | 12 | (27,19Ll | 52,119 | ||
| 91,,967 | 170,531 |
Kingstanding Regeneration Trust
Notes To The Financial Statements
1. Accounting Policies
Charity information
Kingstanding Regeneration Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Room 1, Kingstanding Wellbeing Centre, Dulwich, Kingstanding, Birmingham, B44 0EW.
1.1 Accounting convention
The accounts have been prepared in accordance 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 (FRS102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Company status
The Charity is a company limited by guarantee. The members of the company are the trustees named on page 3 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.
1.3 Funding accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purpose.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
12
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Notes To The Financial Statements
1.4 Incoming resources
All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Gifts in kind donated for distribution are included at valuation and recognized as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in these financial statements for services donated by volunteers.
Intangible income, which comprises donated services, is included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognized at the time of donation.
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters. Management and administration costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
13
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Notes To The Financial Statements
2. Donations
| Charles Haywood Foundation Birmingham City Council Witton Lodge Grant Tudor Trust John Lew PLC DSF Rank Foundation The Henry Smith Foundation Mind Space Project The Cole Trust Spitfire Advice Heart of England Community Foundation Garfield Weston Foundation Other under 5k The Screwfix Foundation HMRC JRS Grant Brookvale Board Walk KRT Enterprises Thomas Wall Trust Everson Grant Awards for All EH Smith Grant Total |
Restricted Unrestricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 7,000 - 7,000 - - 55,600 55,600 89,055 - 8,190 8,190 - - 99 99 27,000 - - - 71,796 - - - 37,447 60,000 - 60,000 60,000 - - - 93,727 1,000 - 1,000 - - - - 7,500 - - - 21,500 6,500 - 6,500 20,000 1,500 1,521 3,021 14,398 - - - 5,009 - 1,814 1,814 17,960 - - - 11,500 - - - 10,000 - 18,711 18,711 - 5,000 - 5,000 - 5,000 - 5,000 - 9,900 - 9,900 - 7,500 - 7,500 - |
|---|---|
| 103,400 85,935 189,335 486,892 |
14
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Notes To The Financial Statements
3. Charitable Activities – Projects & Activities
| Android Tablets Beneficiary Expenses RAIK & Tudor Trust Fundraising Connecting Communities Enterprise Expense HMRC & NEST Anya Sanchez Fundraiser Brookvale Refurb Grant Health and Safety Advice Birmingham City Council Time 2 Shine Rent - BCC Henry Smith Mindspace Salaries John Lewis Rank Salaries Wesleyan Foundation Van Insurance PCC Funding Sainsburys Insurance Cleaning WMTP Grimmitt Trust Advent Donation Expenditure under £500 Staff Recruitment Marketing Office Costs Staff Training / Young Person Training Tools and Equipment Utilities Vans Total |
Restricted Unrestricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 484 203 687 - - 2,156 2,156 - - - - 119,745 - 15,432 15,432 - 1,500 - 1,500 - - 2,664 2,664 - - 27,495 27,495 23,900 - - - 20,666 1,134 14,341 15,475 23,923 6,500 6,912 - - 6,500 6,912 - - - - - 41,966 - - - 20,684 - - - 11,033 - - - 26,141 - - - 40,088 84,643 57,895 142,538 - - - - 28,023 - - - 8,058 - (17,000) (17,000) 17,705 - - - 5,918 - - - 7,030 - - - 2,539 - 2,429 2,429 1,952 - 3,216 3,216 1,755 - - - 1,500 - - - 1,190 - - - 649 - 382 382 3,519 - 651 651 - - 2,803 2,803 - - 26,080 26,080 - 1,481 8,765 10,246 - - 641 641 - - 2,193 2,193 - - 13,739 13,739 - |
|---|---|
| 102,654 164,085 266,739 407,984 |
15
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Notes To The Financial Statements
3a. Charitable Activities - Fundraising
| Fundraising Total |
Restricted Unrestricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 - - - 8,927 |
|---|---|
| - - - 8,927 |
4. Governance Costs
| 4. Governance Costs | |
|---|---|
| Accountancy Fees Total |
Restricted Unrestricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ - 1,160 1,160 465 |
| - 1,160 1,160 465 |
5. Analysis Of Resources Expended By Expenditure Type
| Fundraising Projects & Activities Governance Cost Total Resources Expended |
Staff Costs Other Costs Total Total 2022 2022 2022 2021 £ £ £ £ - - - 8,927 - 266,739 266,739 407,984 - 1,160 1,160 465 |
|---|---|
| - 267,899 267,899 417,376 |
16
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Notes To The Financial Statements
6. Net Incoming Resources/(Resources Expended)
| This is stated after charging Accountancy fees Total |
Total Total 2022 2021 £ £ 1,160 465 |
|---|---|
| 1,160 465 |
During the year no Management Committee received any remuneration. During the year no Management Committee received any benefit in kind. During the year no Management Committee received any reimbursement of expenses.
7. Staff Costs And Numbers
| Staff costs were as follows | 2022 | 2021 |
|---|---|---|
| £ | £ | |
| Wages and salaries | 170,480 | 169,843 |
| Social Security | 10,386 | 8,940 |
| Total | 180,866 | 178,783 |
| The average monthly number of employees during | the year was as follows | |
| 2022 | 2021 | |
| Employees | 8 | 9 |
| No employee received remuneration amounting to more than £60,000 in either year. |
8. Fixed Assets
| 8. Fixed Assets | |
|---|---|
| Motor | |
| vehicles | |
| £ | |
| Cost | |
| Balance brought forward | - |
| Additions | 17,000 |
| Balance carried forward | 17,000 |
| Depreciation | |
| Balance brought forward | - |
| Charge for the year | - |
| Balance carried forward | - |
| NBV at 31 March 2022 | 17,000 |
| NBV at 31 March 2021 | - |
17
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Notes To The Financial Statements
9. Debtors
| 9. Debtors | |
|---|---|
| Due within one year Cash in hand and at bank Total |
2022 2021 £ £ 76,127 171,851 |
| 76,127 171,851 |
10. Creditors
| Amount falling due within one year Accruals Total 11. Statement of Funds UNRESTRICTED FUNDS General Funds Total RESTRICTED FUNDS Restricted Funds Total SUMMARY OF FUNDS General Funds Restricted Funds Total of Funds |
Brought Incoming Forward Resources £ £ 52,119 85,935 |
2022 2021 £ £ 1,160 1,320 1,160 1,320 Resources Carried Expended Forward £ £ 165,245 (27,191) |
|---|---|---|
| 52,119 85,935 |
165,245 (27,191) |
|
| 118,412 103,400 |
102,654 119,158 |
|
| 118,412 103,400 |
102,654 119,158 |
|
| £ £ 52,119 85,935 118,412 103,400 |
£ £ 165,245 (27,191) 102,654 119,158 |
|
| 170,531 189,335 |
267,899 91,967 |
18
Report and financial statements for the year to 31[st] March 2022
Kingstanding Regeneration Trust
Notes To The Financial Statements
12. Analysis Of Net Assets Between Funds
| Current assets Creditors due within one year Total |
Restricted Unrestricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 118,627 - 118,627 171,851 (1,160) - (1,160) (1,320) |
|---|---|
| 117,467 - 117,467 170,531 |
13. Related Party Transactions
During the year, there were no related party transactions.
14. Ultimate Controlling Party
The charitable company is controlled by its Trustees/Directors.
19
Report and financial statements for the year to 31[st] March 2022