CHARITY NUMBER: 1154020
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP
ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 DECEMBER 2024
LEVICKS Chartered Accountants and Business Advisers 61 London Road Maidstone Kent ME16 8TX
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Page 1
Reference and administrative information
The first trustees were appointed by the Parochial Church Council of St Faith’s Church Maidstone. Additional trustees are appointed by the existing trustees.
During the year the following served as trustees of the charity
Rev Canon Arthur Houston - retired 30 September 2024 Reverend Mark Pavey (Chair) - appointed 15 October 2024 Dale Nurden Rose Henn-Macrae Susan Shaw Keith Settle Elizabeth Druker Sir John Young Frances Butler Coral Stimson Zoe Adams Bankers: Natwest Independent Examiner: J A Griggs FCA Levicks Chartered Accountants & Business Advisors 61 London Road, Maidstone, Kent ME16 8TX Registered charity number: 1154020 Registered Address: St Faith’s Centre Moncktons Lane Maidstone ME14 2PY Website: www.stfaithscentre.uk
Structure, governance and management
Ringlestone Community Centre Development Group was formed to build and develop a community centre both for worship and community use by the people of Ringlestone and Springfield Maidstone, replacing the old St Faith’s Hall in Ringlestone. The building project started with contractors on site from October 2021, and was completed in July 2023 and has been fully operational throughout 2024. The charity is constituted as a Charitable Incorporated Organisation and registered with the Charity Commission on 1 October 2013.
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
Page 2
Trustees and Management
The recruitment of trustees is through clear communication with users of the centre and represents the diversity of the congregation and centre users through its spread of ages, experiences and cultural backgrounds. The method of appointment is laid out in the charity constitution. New members are given a general introduction and welcome, with specific explanations as required. In September 2024 Rev Canon Arthur Houston retired as both Priest-in-Charge and Chair of Trustees, and from October 2024 Rev Mark Pavey was appointed as Priest-in-Charge and voted in as RCCDG Chair of Trustees.
There is a finance committee consisting of the chair, the treasurer and suitably experienced nominated trustees which meets from time to time to make decisions about practical administration and to monitor finances.
Objectives and activities
The objects of the charity are:
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(1) To benefit the residents of Ringlestone, Springfield and the surrounding neighbourhood, in particular but not exclusively, children, young people, families, vulnerable adults and the elderly by associating together the said residents and the local authorities, St Faith’s church, voluntary and other organisations in a common effort to advance education, and to provide facilities in the interests of social welfare and for recreation and leisure time occupation with the objective of improving the conditions of life for the residents, for the benefit of the public.
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(2) To establish or secure the establishment of a community centre and to maintain or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in the furtherance of the above objects.
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(3) To advance the Christian religion for the benefit of the public
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(4) Any other object that is exclusively charitable under the Laws of England and Wales
Achievements and performance
St Faith’s Centre is now fully operational, providing a meeting place for local community and church groups, a community café, food bank, FareShare shop open to all and use of the Main Hall for worship every Sunday. The garden was laid out and planted up by Arthur Houston with a small team which has established well through 2024. A pergola surrounding a terrace was erected and provides seating at the higher level in the garden. Individual rose trees were purchased and dedicated by members of the church and community as part of the garden.
Ringletots, the parent/carer and preschool group, and Rainbows and Brownies, previously using the old Church Hall, have returned and are flourishing in the new Centre. %occupancy continued to grow throughout 2024, reflected in the increase in hire income. New regular and one-off groups, as well as individuals, have booked the various spaces in the Centre, and a private Speech Therapist has become a permanent booking in the smallest room upstairs in the Centre. RingleRainbows daycare nursery (a private provider) continues to offer care to preschool children in their dedicated space downstairs with use of the kitchen and play area in the garden.
We continue to have good local community links with the Ringlestone Community Association who are firmly represented as trustees in the Ringlestone Community Centre Development Group and key members volunteer regularly in the Centre.
The majority of loans were paid off in 2024, a marvellous achievement.
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP Page 3 ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
Financial Review
Restricted funds stand at £2,091,880 and are detailed in the financial statements. Gross income of £160,686 was received, the majority of which has been used to fund the operation of the new community and worship centre in Ringlestone. Cash funds of £72,982 were carried forward into 2025. Funds will be used for ongoing maintenance and enhancement of the centre, and to run the activities of the centre now it is open.
Reserves Policy
The trustees aim to build a healthy balance if possible on unrestricted funds to cover emergency situations that may arise. The centre is now open for use and so able to generate unrestricted income to be used for the continued maintenance and upkeep of the building and its facilities.
M Pavey Trustee on behalf of the board of trustees
17 November 2025
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF Page 4 RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP FOR THE YEAR ENDED 31 DECEMBER 2024
I report on the accounts of the Ringlestone Community Centre Development Group for the year ended 31 December 2024 which are set out on Page 5 to 16.
Respective responsibilities of trustees and examiner
The trustees 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. Income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the General Directions given by the Charity Commissioner under section 145(5)(b) of the 2011 Act; and
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to 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 the seeking of 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.
Independent examiner’s statement
In connection with my examination, no material matters have come to my attention which give me cause to believe that in any material respect:
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the accounting records were not kept in accordance with section 130 of the 2011 Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of the accounts other than any requirement to show a ‘true and fair’ view, which is not a matter considered as part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
61 London Road J A Griggs FCA Maidstone LEVICKS Kent Chartered Accountants & Business Advisers ME16 8TX
20 November 2025
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP Page 5 STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Restricted | ||||
|---|---|---|---|---|---|
| Funds | Funds | Total | |||
| 2024 | 2023 | ||||
| Note | £ | £ | £ | £ | |
| INCOME FROM: | |||||
| Donations and legacies | 3a,b,c | 13,318 | 99,762 | 113,080 | 879,536 |
| Charitable activities | 3a | 47,397 | - | 47,397 | 14,645 |
| Investments | 3b | 209 | - | 209 | 234 |
| Other | 3c | - | - | - | - |
| _ | ______ | _ | _ | ||
| TOTAL INCOME | 60,924 | 99,762 | 160,686 | 894,415 | |
| _ | ______ | _ | ______ | ||
| EXPENDITURE ON: | |||||
| Charitable activities | 3a,b,c | 44,156 | 54,120 | 98,276 | 31,929 |
| Other | 3a,c | 1,980 | - | 1,980 | 1,250 |
| _ | ______ | _ | _ | ||
| TOTAL EXPENDITURE | 46,136 | 54,120 | 100,256 | 33,179 | |
| _ | ______ | _ | _ | ||
| NET INCOME/(EXPENDITURE) | 14,788 | 45,642 | 60,430 | 861,236 | |
| AND MOVEMENT IN FUNDS | |||||
| RECONCILATION OF FUNDS: | |||||
| BALANCES BROUGHT FORWARD | 6,968 | 2,046,238 | 2,053,206 | 1,191,970 | |
| 1 JANUARY 2024 | |||||
| __ | __ | __ | __ | ||
| BALANCES CARRIED FORWARD | 21,756 | 2,091,880 | 2,113,636 | 2,053,206 | |
| 31 DECEMBER 2024 | __ | __ | __ | __ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP
Page 6
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Note | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | 4 | 2,049,731 | 2,016,569 | ||
| CURRENT ASSETS | |||||
| Debtors | 5 | 643 | 4,470 | ||
| Cash at bank | 72,982 | 338,536 | |||
| ____ | ___ | ||||
| 73,625 | 343,006 | ||||
| ____ | ___ | ||||
| LIABILITIES: AMOUNTS | 6 | ||||
| FALLING DUE WITHIN ONE | 7,720 | 4,369 | |||
| YEAR | |||||
| ____ | ___ | ||||
| TOTAL NET CURRENT ASSETS | 65,905 | 338,637 | |||
| LIABILITIES: AMOUNTS | 7 | ||||
| FALLING DUE IN OVER ONE | 2,000 | 302,000 | |||
| YEAR | |||||
| ___ | ____ | ||||
| TOTAL NET ASSETS | 2,113,636 | 2,053,206 | |||
| ___ | ____ | ||||
| CHARITY FUNDS | |||||
| Unrestricted | 21,756 | 6,968 | |||
| Restricted | 10 | 2,091,880 | 2,046,238 | ||
| ___ | ____ | ||||
| 2,113,636 | 2,053,206 | ||||
| ___ | ____ |
The trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at the year end the CIO did not have any outstanding guarantees to third parties nor any debts secured on the assets of the CIO.
We approve these accounts and confirm we have made available all relevant records and information for their preparation.
Keith Settle - Treasurer signature 18 November 2025 M Pavey - Trustee signature 17 November 2025
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
Page 7
1. ACCOUNTING POLICIES
a) Basis of preparation and assessment of going concern
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard FRS 102 and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
b) Funds structure
General funds represent the funds of the charity that are not subject to any special restrictions regarding their use and are available for application on the general purposes of the charity. Funds designated for a particular purpose by the charity are also unrestricted. Funds designated for a particular purpose by persons or organisations independent of the charity are treated as restricted funds.
c) Income recognition
Donations are recognised when received by the charity treasurer.
Income tax recoverable on gift aid donations is recognised as it accrues.
Grants and Legacies to the charity are accounted for as soon as the charity is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the charity is probable.
Interest is accounted for when received. Interest received on monies held which include restricted and unrestricted funds, is allocated between those funds on a proportional basis.
Shop and café income is recognised when received.
Room hire is recognised as receivable.
d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
Charitable activities includes those costs directly related to the running of the centre and the activities provided.
Governance costs includes those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination.
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP
Page 8
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES (continued)
e) Tangible fixed assets and depreciation
Fixtures, fittings and office equipment where the charity is free to dispose of such assets is written off in the SOFA as incurred where expenditure does not exceed £500.
Depreciation is provided on the cost less residual value over the anticipated useful economic life of the asset at the following rates.
Leasehold Community and Worship Centre – nil and 2 years straight line. Fixtures and fittings – 15% reducing balance
The leasehold Community & Worship Centre is stated at the cost of the construction. No depreciation is provided on the building as its residual value is not considered to be lower than its cost.
f) Current assets
Amounts owed to the charity at the year end are shown as debtors, less provision for amounts that may prove uncollectible.
g) Current liabilities
Creditors and accruals represent sums irrevocably committed for payment prior to the balance sheet date which were not settled at that date.
2. TRUSTEE REMUNERATION AND EXPENSES AND RELATED PARTY TRANSACTIONS
No charity trustee or related party to the charity or trustees has been paid or is payable remuneration or expenses from the funds of the charity.
There were no donations made to the charity, by trustees, with conditions attached.
The aggregate of trustee donations without conditions was £nil.
Aggregate outstanding loans to the charity by trustees amounted to £2,000.
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP
Page 9
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3. (a) UNRESTRICTED FUND – GENERAL FUND
| INCOME Donations & legacies: Donations Gift aid donations Income tax recovered Charitable activities: Room hire Shop donations Café donations Fundraising Investment income: Bank interest TOTAL INCOME EXPENDITURE Charitable activities: Hall hire catering Light and heat Cleaning Administration costs Bank charges General expenses Depreciation Insurance Lease costs Shop and café purchases Shop and café staffing costs Repairs & Maintenance Water rates Other Independent examination TOTAL EXPENDITURE NET INCOME / EXPENDITURE AND MOVEMENT OF FUNDS BALANCE BROUGHT FORWARD 1 JANUARY 2024 BALANCE CARRIED FORWARD 31 DECEMBER 2024 |
2024 £ 12,618 560 140 _ 13,318 38,357 3,727 4,538 775 _ 47,397 209 60,924 787 7,552 6,760 1,977 103 658 29 1,823 7,500 8,618 5,782 2,290 277 44,156 1,980 46,136 _ 14,788 6,968 _ 21,756 |
2023 £ 1,501 - - ___ 1,501 |
|---|---|---|
13,166 1,479 - - ___ 14,645 |
||
- 16,146 |
||
420 2,799 2,096 2,091 131 357 34 - - - - - - 7,928 1,250 9,178 _ 6,968 - _ 6,968 |
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP Page 10 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3. (b) RESTRICTED FUNDS Year Ended 31 December 2024
| INCOME Donations and legacies: Donations Income tax recovered Grants Investment income: Bank interest TOTAL INCOME EXPENDITURE Charitable activities: Advertising Website costs General expenses Parent and toddler group Singing Repairs and maintenance Staffing costs Training Food larder Depreciation Sound and IT Administration costs TOTAL EXPENDITURE NET INCOME (EXPENDITURE) AND MOVEMENT IN FUNDS BALANCES BROUGHT FORWARD 1 JANUARY 2024 BALANCES CARRIED FORWARD 31 DECEMBER 2024 |
Build Fund £ - - 55,500 - 55,500 - - - - - 17,171 - - - 3,248 1,891 - 22,310 33,190 2,011,128 2,044,318 |
Media/ Publicity Fund £ - - - - - 880 - - - - - - - - - - - 880 (880) 7,436 6,556 |
National Lottery Fund £ - - 37,500 - |
|---|---|---|---|
| 37,500 | |||
| - - - - - - 22,901 2,664 - 326 316 120 |
|||
| 26,327 | |||
| 11,173 22,976 |
|||
| 34,149 |
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP Page 11 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 3. (b) RESTRICTED FUNDS (continued) Year Ended 31 December 2024 INCOME Donations and legacies: Donations Income tax recovered Grants Investment income: Bank interest TOTAL INCOME EXPENDITURE Charitable activities: Advertising Repairs and maintenance Staffing costs Training Food larder Depreciation Sound and IT Administration costs Staff Welfare Activities & workshops TOTAL EXPENDITURE NET INCOME/EXPENDITURE AND MOVEMENT IN FUNDS Transfer of funds BALANCES BROUGHT FORWARD 1 JANUARY 2024 BALANCES CARRIED FORWARD 31 DECEMBER 2024 |
Community Resilience Fund £ - - 6,750 - 6,750 - - - 103 2,925 496 - 31 73 975 4,603 2,147 2,267 2,265 6,679 |
Community Fund Ringletots Fund £ £ - - - - - 12 - - - 12 - - - - - - - - - - - - - - - - - - - - - - - 12 (2,267) - 2,267 166 - 178 |
Total Funds £ - - 99,762 - 99,762 880 17,171 22,901 2,767 2,925 4,070 2,207 151 73 975 54,120 45,642 - 2,046,238 2,091,880 |
|
|---|---|---|---|---|
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP Page 12 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3. (c) RESTRICTED FUNDS Year Ended 31 December 2023
| INCOME Donations and legacies: Donations Income tax recovered Grants Investment income: Bank interest TOTAL INCOME EXPENDITURE Charitable activities: Café costs Shop purchases Advertising Website costs General expenses Parent and toddler group Singing Repairs and maintenance Staffing costs Training Light and heat Depreciation TOTAL EXPENDITURE NET INCOME/EXPENDITURE AND MOVEMENT IN FUNDS BALANCES BROUGHT FORWARD 1 JANUARY 2023 BALANCES CARRIED FORWARD 31 DECEMBER 2023 |
Build Fund £ 44,828 8,644 777,813 234 831,519 - - - - - - - - - - - 3,230 3,230 828,289 1,182,839 2,011,128 |
Media/ Publicity Fund £ - - - - - - - 694 1,001 - - - - - - - - 1,695 (1,695) 9,131 7,436 |
National Lottery Fund £ - - 37,500 - |
|---|---|---|---|
| 37,500 | |||
| - - - - 50 - - - 13,870 220 - 384 |
|||
| 14,524 | |||
| 22,976 - |
|||
| 22,976 |
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP Page 13 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3. (c) RESTRICTED FUNDS (continued) Year Ended 31 December 2023
| INCOME Donations and legacies: Donations Income tax recovered Grants Investment income: Bank interest TOTAL INCOME EXPENDITURE Charitable activities: Café costs Shop purchases Advertising Website costs General expenses Parent and toddler group Singing Repairs and maintenance Staffing costs Training Light and heat Depreciation TOTAL EXPENDITURE NET INCOME/EXPENDITURE AND MOVEMENT IN FUNDS BALANCES BROUGHT FORWARD 1 JANUARY 2023 BALANCES CARRIED FORWARD 31 DECEMBER 2023 |
Resilience Fund £ - - 3,500 - 3,500 640 - - - - - 400 195 - - - - 1,235 2,265 - 2,265 |
Community Fund Ringletots Fund £ £ - - - - 4,500 1,250 - - 4,500 1,250 658 - 1,575 - - - - - - - - 1,084 - - - - - - - - - - - - 2,233 1,084 2,267 166 - - 2,267 166 |
Total Funds £ 44,828 8,644 824,563 234 |
|
|---|---|---|---|---|
| 878,269 | ||||
| 1,298 1,575 694 1,001 50 1,084 400 195 13,870 220 - 3,614 |
||||
| 24,001 | ||||
| 854,268 1,191,970 |
||||
| 2,046,238 |
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP Page 14 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4. TANGIBLE FIXED ASSETS
| Cost Balance 1 January 2024 Additions Balance 31 December 2024 Depreciation Balance 1 January 2024 Provision for the year Balance 31 December 2024 Net book value 31 December 2023 Net book value 31 December 2024 |
Leasehold Community & Worship Centre 1,995,896 33,931 2,029,827 - 496 496 1,995,896 2,029,331 |
Fixtures & Fittings 24,440 3,329 27,769 3,767 3,602 7,369 20,673 20,400 |
Total 2,020,336 37,260 |
|---|---|---|---|
| 2,057,596 | |||
| 3,767 4,098 |
|||
| 7,865 | |||
| 2,016,569 | |||
| 2,049,731 |
The freehold of the Community and Worship Centre is owned by the Diocese of Canterbury.
5. DEBTORS
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Room hire | 465 | 4,470 |
| HMRC gift aid claim | 140 | - |
| Other | 38 | - |
| __ | ___ | |
| 643 | 4,470 | |
| __ | ___ |
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP
Page 15
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6. LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other creditors -Independent examination | 4,370 | 2,390 |
| -Light and heat | 2,335 | 1,979 |
| -Staff training | 1,015 | - |
| __ | ___ | |
| 7,720 | 4,369 | |
| __ | ___ |
7. LIABILITIES: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Loan from St Faith’s PCC | - | 200,000 | |
| Personal loans | 2,000 | 102,000 | |
| __ | ___ | ||
| 2,000 | 302,000 | ||
| __ | ___ | ||
| 8. ANALYSIS OF NET ASSETS BY FUND | |||
| Year ended 31 December 2024 | |||
| Unrestricted | Restricted |
Total | |
| Fund | Fund | Funds | |
| £ | £ | £ | |
| Fixed assets | |||
| Tangible assets | 162 | 2,049,569 | 2,049,731 |
| Current assets | |||
| Debtors | 643 | - | 643 |
| Cash at bank | 29,531 | 43,451 | 72,982 |
| Current liabilities | |||
| Creditors | 6,580 | 1,140 | 7,720 |
| Creditors over one year | 2,000 | - | 2,000 |
| __ | __ | __ | |
| Fund balances | 21,756 | 2,091,880 | 2,113,636 |
| __ | __ | __ |
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP
Page 16
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8. ANALYSIS OF NET ASSETS BY FUND (continued)
Year ended 31 December 2023
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Fund | Funds | Funds | |
| £ | £ | £ | |
| Fixed assets | |||
| Tangible assets | 191 | 2,016,378 | 2,016,569 |
| Current assets | |||
| Debtors | 4,470 | - | 4,470 |
| Cash at bank | 5,536 | 333,000 | 338,536 |
| Current liabilities | |||
| Creditors | 3,229 | 1,140 | 4,369 |
| Creditors over one year | - | 302,000 | 302,000 |
| __ | __ | __ | |
| Fund balance | 6,968 | 2,046,238 | 2,053,206 |
| __ | __ | __ |
9. INDEPENDENT EXAMINERS FEES
Fees payable to the independent examiner, including VAT, were as follows:
| 2024 | 2025 | |
|---|---|---|
| Independent examination | 1,020 | 900 |
| Accountancy fees | 960 | 720 |
| ______ |
______ | |
| 1,980 | 1,620 | |
| ______ |
______ |
RINGLESTONE COMMUNITY CENTRE DEVELOPMENT GROUP Page 17 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
10. STAFF COSTS
Staff were not directly employed by the Centre in the current or previous year but were paid under contract.
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Staff contract costs | 28,683 | 15,509 |
11. RESTRICTED FUNDS
Building fund
This represents the construction costs of Ringlestone Community and Worship Centre.
Media/Publicity fund
Grants received to fund publicity and advertising for the new centre including set up and maintenance of the website.
National Lottery fund
Monies received to fund the post of centre manager.
Resilience fund
Funding from Maidstone Borough Council for projects supporting the local community through the cost of living crisis.
Community fund
Funding from Maidstone Borough Council to support community based projects including school meals in the holidays and a food larder.
Ringletots fund
Grants in support of the Ringlestone parent and toddler group.
12. TRANSFERS
The Community and Resilience Funds have been combined as the funds received related to the same objective.