Company registration number: 06209593 Charity registration number: 1153817 BUCKLAND NEwfoN CPT LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Chartered Accountants
BUCKLAND NEwfoN CPT LIMITED CONTENTS Reference and Administrative Details Trustees, Report 2to3 Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8t014
BUCKLAND NEwfoN CPT LIMITED REFERENCE AND ADMINISTRATIVE DETAILS Trustees MsJACuff Mrs S N Barker Mr A G Stone Mrs G Watkin Mr L Parsons Mrs S M Pollard Mr A J T Parson Mr A S Waring MsJACuff Secretary Charity Reglstratlon Number 1153817 Company Registration Number 06209593 The charity is incorporated in England and Wales. Unity Chambers 34 High East Street Dorchester Dorset DT11HA Registered Office Principal Office Sunnyside Buckland Newton Dorchester Dorset DT2 7BX Howard Jones BA FCCA Edwards and Keeping Limited Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorset DT11HA Independent Examlner
BUCKLAND NEWTON CPT LIMITED TRUSTEES, REPORT The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charitable company for the year ended 30 April 2025. Objectives and activltles Objects and aims The objects of the Buckland Newton Community Property Trust as stated in the company's articles are:. To provide or assist in the provision of affordable housing accommodation for persons who are in conditions of need, poverty or distress, The maintenance, improvement or provision of public amenities, The provision of facilities for recreation or other leisure time occupation in the interest of social welfare with the object of improving the conditions of life for the residents of the area of benefit, The advancement of education and vocational training amongst the residents of the area of benefrt, and the creation of training and employment opportunities by the provision of workspace, buildings and/or land for use on favourable terms. Public benefit The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales and also the Affordable Home Ownership guidance when reviewing the charity's aims and objectives and in planning future activities. The area of benefit is Buckland Newton and the surrounding area in West Dorset. Financial revlew Rental income of £67,790 (2024 - £60,573) was received, property management being carried out by Magna Housing Ltd. Investment income received was £24 (2024 - £25). Costs directly attributable to the provision of housing totalled £43,475 (2024 £43,254), including £22,235 depreciation. Governance costs solely comprise accountancy and independent examination fees £1,990. Net income for the year was £24,339 compared with £17,344 in the prior year, with funds standing at £918,684 at 30 April 2025 (2024 - £894,345). Policy on reserves Owing to funds deployed in fixed assets or otherwise committed, the charity has no free reserves, day-to-day working capital needs are met by careful management of short-term liquid resources. The trustees consider that ideally free reserves of two months expenditure, would be expedient in order to cover the risks and uncertainties of operations. Structure, governance and management Nature of governing document The Buckland Newton Community Property Trust was incorporated on 11 April 2007 as a charitable company limited by guarantee. The affairs of the company are governed by its articles, updated on 7 August 2013, under which the trustees control the company and its property and funds. Formal registration with the Charity Commission was confirmed on 16 September 2013. Recruitment and appointment of trustees Trustees, who must be members of the charitable company, are elected by the members up to a maximum of twelve. No specific policies for the induction and training of trustees are considered to be necessary. Membership of the charitable company is open to any individual or organisation interested in promoting the objects who applies for membership and is approved by the trustees.
BUCKLAND NEwfoN CPT LIMITED TRUSTEES, REPORT Small companles provlsion statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the trustees of the charity on I behalf by: Il.i. and signed on its Mr A G Stone Trustee
BUCKLAND NEwfoN CPT LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Buckland Newton CPT Limited for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), Including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial 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 that can disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. .4pproved by the trustees of the charity on ..Iq I i ! IG and signed on its behalf by: Mr A G Stone Trustee
BUCKLAND NEwfoN CPT LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUCKLAND NEwfoN CPT LIMITED I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2025. Responsibilities and basls of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the 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: 1. accounting records were not kept in respect of Buckland Newton CPT Limited as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 accounts to be reached. Howard Jon BA FCCA Edwards a d Keeping Limited Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorset DT11HA Date:.. eoz6
BUCKLAND NEwfoN CPT LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025 (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) Total 2025 Total 2024 Note Income and Endowments from: Rental income Interest on cash deposits Total income 67,790 24 60,573 25 67,814 60,598 Expenditure on: Property Insurance Propety repairs and maintenance Trade subscriptions Sundry expenses Accountancy and independent examination Management fees Depreciation of housing properties 3,313 10,557 390 3,758 10,491 375 35 1,939 4,421 22,235 1,990 4,956 22,235 Total expenditure 43,475 43,254 Net income 24,339 17,344 Net movement in funds 24,339 17,344 Reconciliation of funds Total funds brought fOard Total funds carried forward 894,345 877,001 918,684 894,345 All of the charity's activities derive from continuing operations during the above two periods.
BUCKLAND NEwfoN CPT LIMITED (REGISTRATION NUMBER: 06209593) BALANCE SHEET AS AT 30 APRIL 2025 2025 2024 Note Flxed assets Tangible assets Current assets Debtors Cash at bank and in hand 861,514 883,748 7,879 52,841 7,432 23,879 31,311 (20,714 10,597 60,720 (3,550) 57,170 Creditors: Amounts falling due within one year Net current assets Net assets 918,684 894,345 Funds of the charity: Unrestricted Income funds Unrestricted funds 918,684 894,345 894,345 Total funds 918,684 For the financial year ending 30 April 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on .Lq l.(.l.Lk.... and signed on their behalf by: MrA G Stone Trustee
BUCKLAND NEWTON CPT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 1 Charity status The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: Unity Chambers 34 High East Street Dorchester Dorset DT11HA The principal place of business is: Sunnyside Buckland Newton Dorchester Dorset DT2 7BX 2 Accountlng policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance The financial statements have been prepared in accordance with 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)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Buckland Newton CPT Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The accounts are presented in £ sterling. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Exemption from preparing a cash flow statement The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Income and endowments All income is recognised when the charity has entitlement to the Income, there is sufficient certainty of receipt and so it is probable that the income will be recelved, and the amount receivable can be measured reliably.
BUCKLAND NEWTON CPT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Donated servlces and facllities No amounts are included in the accounts for services donated by volunteers. Other tradlng actlvltles Gross rental income received from the letting of the charity's housing properties is recognised on a receivable basis. Investment income Investment income is recognised on a receivable basis. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources and depreciation charges allocated on the portion of the asset's use. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Housing properties are stated at cost less depreciation. Cost includes the cost of acquiring land and buildings, development costs, interest charges incurred during the development period and expenditure incurred in respect of improvements. Depreciatlon and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Depreclatlon method and rate Not depreciated 20/0 Straight Line Depreciation Asset class Land Buildings Trade debtors Trade debtors are rents due and are recognised at the settlement amount. Prepayments Prepayments are valued at the amount prepaid after taking account of any trade discounts due. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
BUCKLAND NEWTON CPT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Provisions Provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Fund structure The charity's funds comprise solely general, unrestricted income funds, which are available for use at the trustees, discretion in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. 3 Net incomingloutgoing resources Net incoming resources for the year include: 2025 2024 Depreciation of fixed assets 22,235 22,235 ln.
BUCKLAND NEwfoN CPT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 4 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 5 Independent examiner's remuneration 2025 2024 Other fees to examiners Examination-related assurance services All other services 385 1,605 456 1,483 1,990 1,939
BUCKLAND NEWTON CPT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 6 Tangible fixed assets Land and bulldlngs Total Cost At 1 May 2024 At 30 April 2025 Depreciation At 1 May 2024 Charge for the year At 30 April 2025 1,164,128 1,164,128 1,164,128 1,164,128 280,380 22,234 280,380 22,234 302,614 302,614 Net book value At 30 April 2025 At 30 April 2024 861,514 861,514 883,748 883,748 Included within the net book value above is a cost of £52,392 in respect of land which is not depreciated and is pledged as security for the West Dorset District Council loan. The remaining balance is freehold properties. Capitalised borrowing costs Within Land and buildings are capitalised borrowing costs of £42,170 (2024 £42,170). The capitalisation rate used to determine the amount of finance costs capitalised during the period was 5 %. The amount capitalised in the period was £Nil (2024 - £Nil). 1?.
BUCKLAND NEwfoN CPT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 7 Debtors 2025 2024 Trade debtors Prepayments 4,312 3,567 4,018 3,414 7,879 7,432 8 Creditors: amounts falling due withon one year 2025 2024 Trade creditors Other loans Accruals 1,750 1,939 17,215 1,560 1,800 3,550 20,714 Other borrowlngs West Dorset District Council Loan was repaid in full during the period (balance due at 30.04.24 £17,215). The loan is denominated in £ Sterling with a nominal interest rate of 5% (2024 5% ). The final instalment was made on 21 November 2024. The loan was secured on the housing properties at Buckland Newton which had a carrying value of £861,514.
BUCKLAND NEWTON CPT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 9 Funds Balance at 1 May 2024 Incoming resources Resources expended Balance at 30 Aprll 2025 Unrestricted General 894,345 67,814 43,475 918,684 Balance at 1 May 2023 Incoming resources Resources expended Balance at 30 April 2024 Unrestricted General 877,001 60,598 (43,254 894,345 10 Analysis of net assets between funds Unrestrlcted funds General Total funds at 30 Aprll 2025 Tangible fixed assets Current assets Current liabilities 861,514 60,720 3,550 861,514 60,720 3,550 Total net assets 918,684 918,684 Unrestrlcted funds General Total funds at 30 April 2024 Tangible fixed assets Current assets Current liabilities 883,748 31,311 20,714 883,748 31,311 20,714 Total net assets 894,345 894,345 11 Related party transactions There were no related party transactions in the year. 14-