**Cholsey Community Development Trust** (A Company Limited by Guarantee) ## Cholsey Community Development Trust Annual Report and Statements for The Year Ended 30[th] June 2024 Company Registration No: **07589995** Charity Registration No: **1154165** Page 1 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Contents** |Page|| |---|---| |3 - 6|Report of the Directors| |7|Statement of Financial Activities| |8|Balance Sheet| |9 – 14|Notes to the Financial Statements| |15|Independent Examiners Report to Trustees| Page 2 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Legal and Administrative Information** **Company Registration Number: 07589995** **Date of Incorporation – 4[th] April 2011** **Date of Charity Registration – 10th October 2013** **Start of Financial Period 1[st] July 2023** **End of Financial Period 30[th] June 2024** ## **Directors during 2023/24** **Richard Harding Valerie Bolt Irene Neill, resigned 24.11.2023 Kelly Dawson (Treasurer) Dorothea Price Niall Hammond Alan Newell Jaqueline Logan Judith Collins, appointed 24.11.2023 Philip Lucas, appointed 10.06.24** ## **Governing Document: Cholsey Development Trust Constitution** ## **Objects:** To further or benefit the residents of Cholsey and the surrounding area, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents. In furtherance of these objects but not otherwise, the trustees shall have the power to establish or secure the establishment of community facilities and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such facilities for activities promoted by the charity in furtherance of the above objects. The promotion of the conservation, protection and improvement of the physical and natural environment for the public benefit by raising awareness of and encouraging practical steps to reduce levels of atmospheric carbon dioxide. Under the Lease for the Great Hall, the Trust has full maintenance responsibility for all **internal** maintenance and decoration. The Trust also has responsibility to maintain and replace all internal equipment, fixtures and fittings, including heating and lighting systems, kitchen, toilets and water supply. The trust aims to hold reserves equivalent to at least 50% of its annual core budget, with designated reserves being built up for Maintenance and Sinking funds. The Trust aims to generate enough income in order to transfer sufficient funds into the Maintenance Reserve, and to transfer agreed amounts into the Designated Sinking Fund. Should the income fall short of what is required, then the Trustees may decide to transfer the shortfall from the General Fund into the Sinking Fund. We have referred to the guidance contained in the Charity Commission’s general Page 3 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. ## **Composition of the Board:** The Board of Trustees is made up of up to 12 positions from the key partners, Cholsey Parish Council (1), Soha Housing (1), facility user groups (2), businesses (2), residents from social and private housing (3) and specialist skills (3). In addition, further (non-voting) members with specialist skills desired by the Trust may be invited to participate. The position of Chair will be appointed from within the Board membership or otherwise co-opted as a specialist skill. All nominations to be Directors, to be approved by existing Board of Trustees prior to the AGM to ensure representative balance of gender, age, and experience, and that all candidates are deemed suitable to work in the interests of the Trust. The Trust is committed to the principle of people being appointed on the basis of merit, including skills, knowledge, and competence. It is vital to ensure a good and strong balance of gender, age, circumstance, skills and experience on the Board. ## **Responsibilities of Board of Trustees:** The board is required to meet frequently to set policy and direct the organisation. Its responsibilities are likely to include: - defining policy and strategy for programme activities to meet CDT aims - ensuring financial viability and sustainable funding strategy - negotiating over specification and transfer of land and buildings - agreeing priorities and performance targets through the annual business plan - agreeing annual budget and monitoring income and expenditure - approving service level agreements for any sub-contract activities - appointing and managing Cholsey CDT staff or any interim contract staff - monitoring performance and directing action if required - representing Cholsey CDT to outside agencies and forums The Trust has both formal and informal methods of recording and reporting on its progress to manage risks and account for progress. This is to fulfil legal and contractual obligations, as well as report back to the Board, the Parish and District Councils, and the users, and partners to keep people informed and to manage the organisation. There are a number of risks associated with the development of Cholsey CDT and the successful commissioning of the community facilities in particular. Given the tight management role played by the Trust Board and the strong involvement of the core partners, these can be managed and the impact minimised. A risk register forms part of the Business Plan which is reviewed on a regular basis. The following legal and operational policies have been approved and are subject to review by the board: - Financial procedures - Volunteer expenses - Declaration of conflicts of interest - Health and Safety - Equalities (Equal Opportunities) - Complaints - Code of conduct - Training and development - Volunteer policy Page 4 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) - Hand-book including contracts of employment and terms and conditions - Working with children, young people and vulnerable adults - Great Hall and Pavilion lettings pricing, policies and procedures **Registered Address: Cholsey Great Hall Fair Mile, Cholsey, OX10 9GW** **Bankers: Cooperative Bank PO Box 101, 1 Balloon Street, Manchester, M60 4EP** **Nat West Bank 11 Market Place Abingdon OX14 3HH** **Independent Examiner: Nigel Thomas 14 The Forty Cholsey OX10 9LH** ## **Chair’s Report 2023/24:** In April 2024 we celebrated our 10 year anniversary with afternoon tea and displays in the Great Hall and an excellent evening talk on the history of Fair Mile from Ian Wheeler. April was rounded off with a three-night stint by the comedian, Henning When. These were probably our best attended events ever, with a sell-out each night. As well as attracting new people to the Great Hall, we made a tidy profit for the CCDT, which we are able to plough into community events and upgrading our facilities. Many thanks to all of those behind the bar and front of house. We’ve also run our ‘usual’ offering of events, films, National Theatre broadcasts and comedy nights. These have varied attendances but generally make a small profit and are enjoyed by all. One highlight for me was the screening of the environmental film, Six Inches of Soil, this attracted an audience of 150 people and was followed by a lively debate of the future of food in our community. Of course, we continue to have our daytime activities, yoga, table tennis, band practices etc, etc, and community activities in the summer, particularly for the younger people. We are always looking for new events and activities – so if you have any ideas (or want to organise something) let us know. The Cricket Club have had a successful season in 2024, in particular the youth cricket. In 2024, the Club had over 120 children training on a Friday evening with more kids than ever representing Cholsey this year at all levels. Last year, seven youths were accepted on the Oxfordshire pathway and a number playing in Oxfordshire representative teams. The Club has again had under 11, under 13 and under 15 games against local teams and this year even an under 9s match. Also, a number of the youth squad have played in the adult matches – a succession the Club was always hoping for. Thanks are due to all the coaches and helpers (and to CCDT support). The Club could expand further but are limited by the number of helpers and coaches they have – so if you want to help please get in touch. In 2023, we had an energy audit of the Great Hall carried out by Low Carbon Hub. The report made a number of practical suggestions to reduce our carbon emissions and heating costs. A major recommendation was to insulate below the Hall floor, this would both reduce our energy losses and improve the comfort of users. We are seeking grant funding to assist with the costs of this. We are also planning an upgrade to the kitchen which should increase its utility and make it more energy efficient. Page 5 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) As ever the success of the last year has been down to the hard work of our administrator, Anna Swindell, the Trustees and volunteers. Many thanks to all. This year Alan Newell is stepping down from the committee. Alan has done sterling work looking after our audiovisual equipment, running the bar and much else, he will be much missed. We do, however, welcome a new recruit, Philip Lucas. I should add we are still looking for a Treasurer, if you feel you could help have a word with Anna, Sue Jeffs or myself. Finally, thank you all for your support over the last year and I look forward to seeing you at our events next year. ## **Richard Harding, Chair** ## **Report of the Directors For Year Ended 30[th] June 2024** ## **Statement of Directors Responsibilities** Company law requires the directors to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the company and of the profit and loss of the company during that period. In preparing those financial statements the directors are required to; 1. Select suitable accounting policies and then apply them consistently, 2. Make judgements and estimates that are reasonable and prudent, 3. Prepare financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business. The directors 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In preparing this report the directors have taken advantage of special provisions of the Companies Act 2006 relating to small companies. I approve the attached statement of financial activities and balance sheet for the year ended 30[th] June 2024 and confirm that I have made available all information necessary for its preparation. Approved by the Directors on the Signed on their behalf by Director Print Name: Richard Harding Page 6 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Statement of Financial Activities For the Year Ended 30[th] June 2024** ## **Incorporating Income and Expenditure Account** |**Notes**
**Incoming Resources**
**Incoming Resources from**
**Generated Funds (Unrestricted)**
**Grants**
**3a**
**Residents Levy**
**3b**
**Investment Income**
**Other Income**
**3c**
**Total Incoming Resources**
**Resources Expended**
**Costs of Generating Funds**|**2023/24**
**2022/23**
**-**
**-**
**26,310**
**24,887**
**-**
**-**
**69,633**
**50,416**
**95,943**
**75,303**| |---|---| |**Charitable Activities**
**4a**
**Governance Costs**
**4b**
**Total Resources Expended**
**Net Incoming / (outgoing) Resources**|**95,799**
**72,922**
**200**
**202**
**95,999**
**73,124**
**(56)**
**2,179**| Page 7 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Balance Sheet As at 30[th] June 2024** |**Notes**
**Fixed Assets**
**Tangible Assets**
**2**
**Current Assets**|**30th June**
**2024**
**30th June**
**2023**
**43,766**
**48,564**| |---|---| |**Cash at Bank and In Hand**
**5**
**Debtors, Accrued income and Prepayments**
**6**
**Stock**
**Total Current Assets**
**Current Liabilities**
**Creditors and Accruals (falling due in one year)**
**7**
**Deferred Income**
**8**
**Total Assets less Current Liabilities**
**Funds of Charity**
**Designated Capital Fund**
**9**
**Designated Maintenance Fund**
**10**
**Designated Sinking Fund**
**11**
**Coronavirus Recovery Fund**
**12**
**General Fund**
**Funded by**|**131,122**
**121,675**
**14,966**
**13,791**
**846**
**768**
**146,934**
**136,234**
**7,610**
**2,267**
**2,045**
**1,430**
**181,045**
**181,101**
**43,766**
**48,564**
**8,750**
**8,000**
**48,200**
**40,700**
**5,366**
**10,014**
**74,963**
**73,823**
**181,045**
**181,101**| For the year ending 30/06/2024 the company 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 company to obtain an audit in accordance with section 476 of the Companies Act 2006. - The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. - These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with FRS102 SORP. ## **Approved by the Directors on the** ## **Signed on their behalf by Director** ## **Print Name: Richard Harding** Page 8 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) **Notes to the Financial Statements For the Year ending 30[th] June 2024** ## **1. Accounting Policies** ## **Basis of preparation** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts 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 applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011. ## **Incoming Resources** ## **Recognition of Incoming Resources** These are included in the statement of Financial Activities (SOFA) when; - The company becomes entitled to the resources - The Directors are virtually certain they will receive the resources; - The monetary value can be measured with sufficient reliability ## **Incoming Resources with Related Expenditure** Where incoming resources have related expenditure, the incoming resource and related expenditure are reported gross in the SOFA. ## **Grants and Donations** Grants and Donations are only included in the SOFA when there is unconditional entitlement to the resource. ## **Government Grants** The charity has not received government grants in the 2023/24 reporting period. ## **Donated Services and Facilities** These are only included in incoming resources (with an equivalent amount in resource expended) where the benefit to the company is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the company of the service or facility received. ## **Volunteer Help** The value of any voluntary help received is not included in the accounts but is described in the Directors annual report. ## **Investment Income** This is included in the accounts when receivable. Page 9 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Expenditure and Liabilities** ## **Liabilities recognition** Liabilities are recognised as soon as there is a legal or constructive obligation committing the company to pay out resources. ## **Governance Costs** Includes costs of the preparation and examination of statutory accounts, the costs of Directors meetings, and cost of any legal advice to Directors on governance or constitutional matters. ## **Fixed assets** These are capitalised if they can be used for more than one year, and cost at least £100. They are valued at cost or, if gifted, at the value to the charity on receipt. ## **Depreciation** 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 lives as follows; **Asset Class Depreciation Rate** Fixtures & Fittings 10 to 30 years Plant & Machinery 3 to 10 years ## **Stocks** Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. ## **Debtors** Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. ## **Reserves** The trust aims to hold reserves equivalent to at least 50% of its annual core budget, with designated reserves being built up for Maintenance and Sinking funds. Each year, through its budget, the Trust aims to generate enough income in order to transfer sufficient funds into the Maintenance Reserve, and to transfer agreed amounts into the Designated Sinking Fund. Should the income fall short of what is required, then the Trustees may decide to transfer the shortfall from the General Fund into the designated funds. The Designated Capital Fund is held to fund Fixed Asset purchases. On approval of a capital scheme a budget is approved, and funding moved to the Capital Fund. These funds are then released back to the General Fund in line with depreciation of the assets. There is a temporary Coronavirus Recovery Fund. The Charity received a number of Grants to support its position and recovery from Covid-19. Although there was no restriction on where this grant was spent, the Trustees wanted to monitor it separately from the General Fund. Page 10 of 15 ## **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **2. Tangible Fixed assets** ||Plant and|Fixtures and|Total| |---|---|---|---| ||Machinery|Fittings|| |Cost|||| |At 1 July 2023|51,124|91,016|142,140| |Additions|2,203|1,696|3,899| |At 30 June 2024|53,327|92,712|146,039| |Depreciation|||| |At 1 July 2023|29,502|64,074|93,576| |Charge for year|3,800|4,897|8,697| |At 30 June 2024|33,302|68,971|102,273| |Net book value|||| |At 30 June 2023|21,622|26,942|48,564| |At 30 June 2024|20,025|23,741|43,766| ## **3. Incoming Resources** |a).
Grants
Covid-19 Job Retention
Scheme (CJRS)
Covid-19 Retail, Hospitality and
Leisure Kick start Grant
b).
Residents Contributions
c).
Other Income
Events and Hire Income
Donations
Recharges
Sales|2023/24
-
-
-
2023/24
26,310
2023/24
64,209
3,598
1,826
-
69,633|2022/23
-
-| |---|---|---| |||-| |||2022/23
24,887
2022/23
46,977
1,888
1,515
36| |||50,416| Page 11 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **4. Resources Expended** |a).
Charitable Activities
Cost of Events
Admin Wages
Events management
Advertising and Marketing
Repairs and maintenance
Utilities
Cleaning
Admin expenses
Insurance
Service charges
Depreciation
Cricket club water, electric & fire safety
b).
Governance Costs
Independent Examiners Fee
Meeting expenses
Solicitors Fees|2023/24
30,607
6,998
10,497
1,170
4,319
10,548
6,957
5,725
1,691
6,764
8,697
1,826
95,799
2023/24
200
-
-
200|2022/23
17,765
5,874
8,810
1,333
2,558
7,651
7,106
3,227
1,544
5,919
9,620
1,515| |---|---|---| |||72,922| |||2022/23
200
2
-| |||202| ## **5. Cash at bank and in hand** |2023/24
Current Accounts
130,759
Paypal Account
-
Cash in transit (Zettle, Website, Post Office)
88
Petty Cash
275
131,122|2022/23
120,929
-
337
409| |---|---| ||121,675| Page 12 of 15 ## **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **6. Debtors and Prepayments** |Debtors Control Account
Accrued Income - Residents levy
June hires invoiced in July
Cricket Club recharge
Donation due from match funding
Insurance paid in advance
Screening licence deposit
Service charge paid in advance
Subscriptions paid in advance
Acts booked for future events|2023/24
7,469
-
1,028
1,826
-
1,260
150
1,345
388
1,500
14,966|2022/23
1,007
6,524
1,240
1,515
-
1,271
150
1,970
114
-| |---|---|---| |||13,791| ## **7. Creditors and Accruals: Amounts falling due within one year** |Trade creditors
Deposits for future events
Social security taxes
Pension liabilities
Accruals
Independent examiners fee
**erred income**|2023/24
4,321
1,050
510
-
1,529
200
7,610|2022/23
1,017
750
209
55
36
200| |---|---|---| |||2,267| |||| |||| |Deferred Income
Invoices raised for hire after 30th June
Tickets purchased for future events|2023/24
2,045
2,045|2022/23
1,082
348| |||1,430| ## **8. Deferred income** ## **9. Designated Capital Fund** These are the balances used to fund the capital expenditure of the charity. Funds are released from the General Fund account to the Capital Fund to support the initial purchase of fixed assets. These funds are later released from the Capital Fund to the General Fund matching depreciation. ## **10.Maintenance Fund** This fund is being built up to support 5-yearly redecoration of The Great Hall (as required by the lease). In 2023/24 a £750 transfer has taken place (2022/23 £750). ## **11.Sinking Fund** The sinking fund is a reserve for any large capital repair and maintenance expenditure that may be required for the Great Hall in the future. In 2023/24 a transfer of £7,500 has been made from the general fund to the Sinking Fund (2022/23 £5,000). Page 13 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **12.Coronavirus Recovery Fund** In 2019/20 the charity received a grant of £25,000 to support its recovery following the impact of Covid 19 followed by another £12,000 in 2021/22 as a kick-start grant. £10,014 was carried forward into 2023/24 with £4,648 being used in year to purchase equipment and pay for additional advertising and marketing. ## **13.Analysis of movements between funds** ||Designated
Capital Fund
Designated
Maintenance
Fund
Designated
Sinking Fund
Coronavirus
recovery fund
General
Fund|Designated
Capital Fund
Designated
Maintenance
Fund
Designated
Sinking Fund
Coronavirus
recovery fund
General
Fund|Designated
Capital Fund
Designated
Maintenance
Fund
Designated
Sinking Fund
Coronavirus
recovery fund
General
Fund| |---|---|---|---| |Opening balances|48,564
8,000|40,700|10,014
73,823| |Depreciation|(8,697)
8,697||| |Capital Budget|3,899
(3,899)||| |Transfer to Maintenance
Fund|750
(750)||| |Transfer to Coronavirus
Recovery Fund|(4,648)
4,648||| |Transfer to Sinking Fund|7,500
(7,500)||| |(Deficit) / surplus for the
year|(56)||| ||43,766
8,750
48,200
5,366
74,963||| ## **14.Related Party Transactions** There have been no related party transactions in the year ended 30[th] June 2024. ## **15.Number of staff employed** Number of employees during the year was as follows: 1 (2022/23 Employees: 1) ## **16.Corporation Tax** The charity is exempt from tax on income and gains to the extent that these are applied to its charitable objects. Page 14 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Independent Examiner’s Report on the Accounts for the Year Ended 30[th] June 2024** ## **Respective responsibilities of Trustees and Examiner** The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. ## It is my responsibility to: - Examine the accounts under section 145 of the Charities Act, - To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(9)(b) of the Charities Act), - Accounts comply with the requirements of the 2011 Act - The charity keeps accounting records under section 130 of the Act - To state whether particular matters have come to my attention. ## **Basis of Independent Examiner’s Statement** My examination was carried out in accordance with 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 the 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 matter has come to my attention; - which gives me reasonable cause to believe that in, any material respect, the requirements: - To keeping accounting records in accordance with section 130 of the Charities Act; - To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or - To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. **Nigel Thomas 14 The Forty Cholsey OX10 9LH** **Date: 6[th] February 2025** Page 15 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## Cholsey Community Development Trust Annual Report and Statements for The Year Ended 30[th] June 2024 Company Registration No: **07589995** Charity Registration No: **1154165** Page 1 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Contents** |Page|| |---|---| |3 - 6|Report of the Directors| |7|Statement of Financial Activities| |8|Balance Sheet| |9 – 14|Notes to the Financial Statements| |15|Independent Examiners Report to Trustees| Page 2 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Legal and Administrative Information** **Company Registration Number: 07589995** **Date of Incorporation – 4[th] April 2011** **Date of Charity Registration – 10th October 2013** **Start of Financial Period 1[st] July 2023** **End of Financial Period 30[th] June 2024** ## **Directors during 2023/24** **Richard Harding Valerie Bolt Irene Neill, resigned 24.11.2023 Kelly Dawson (Treasurer) Dorothea Price Niall Hammond Alan Newell Jaqueline Logan Judith Collins, appointed 24.11.2023 Philip Lucas, appointed 10.06.24** ## **Governing Document: Cholsey Development Trust Constitution** ## **Objects:** To further or benefit the residents of Cholsey and the surrounding area, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents. In furtherance of these objects but not otherwise, the trustees shall have the power to establish or secure the establishment of community facilities and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such facilities for activities promoted by the charity in furtherance of the above objects. The promotion of the conservation, protection and improvement of the physical and natural environment for the public benefit by raising awareness of and encouraging practical steps to reduce levels of atmospheric carbon dioxide. Under the Lease for the Great Hall, the Trust has full maintenance responsibility for all **internal** maintenance and decoration. The Trust also has responsibility to maintain and replace all internal equipment, fixtures and fittings, including heating and lighting systems, kitchen, toilets and water supply. The trust aims to hold reserves equivalent to at least 50% of its annual core budget, with designated reserves being built up for Maintenance and Sinking funds. The Trust aims to generate enough income in order to transfer sufficient funds into the Maintenance Reserve, and to transfer agreed amounts into the Designated Sinking Fund. Should the income fall short of what is required, then the Trustees may decide to transfer the shortfall from the General Fund into the Sinking Fund. We have referred to the guidance contained in the Charity Commission’s general Page 3 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. ## **Composition of the Board:** The Board of Trustees is made up of up to 12 positions from the key partners, Cholsey Parish Council (1), Soha Housing (1), facility user groups (2), businesses (2), residents from social and private housing (3) and specialist skills (3). In addition, further (non-voting) members with specialist skills desired by the Trust may be invited to participate. The position of Chair will be appointed from within the Board membership or otherwise co-opted as a specialist skill. All nominations to be Directors, to be approved by existing Board of Trustees prior to the AGM to ensure representative balance of gender, age, and experience, and that all candidates are deemed suitable to work in the interests of the Trust. The Trust is committed to the principle of people being appointed on the basis of merit, including skills, knowledge, and competence. It is vital to ensure a good and strong balance of gender, age, circumstance, skills and experience on the Board. ## **Responsibilities of Board of Trustees:** The board is required to meet frequently to set policy and direct the organisation. Its responsibilities are likely to include: - defining policy and strategy for programme activities to meet CDT aims - ensuring financial viability and sustainable funding strategy - negotiating over specification and transfer of land and buildings - agreeing priorities and performance targets through the annual business plan - agreeing annual budget and monitoring income and expenditure - approving service level agreements for any sub-contract activities - appointing and managing Cholsey CDT staff or any interim contract staff - monitoring performance and directing action if required - representing Cholsey CDT to outside agencies and forums The Trust has both formal and informal methods of recording and reporting on its progress to manage risks and account for progress. This is to fulfil legal and contractual obligations, as well as report back to the Board, the Parish and District Councils, and the users, and partners to keep people informed and to manage the organisation. There are a number of risks associated with the development of Cholsey CDT and the successful commissioning of the community facilities in particular. Given the tight management role played by the Trust Board and the strong involvement of the core partners, these can be managed and the impact minimised. A risk register forms part of the Business Plan which is reviewed on a regular basis. The following legal and operational policies have been approved and are subject to review by the board: - Financial procedures - Volunteer expenses - Declaration of conflicts of interest - Health and Safety - Equalities (Equal Opportunities) - Complaints - Code of conduct - Training and development - Volunteer policy Page 4 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) - Hand-book including contracts of employment and terms and conditions - Working with children, young people and vulnerable adults - Great Hall and Pavilion lettings pricing, policies and procedures **Registered Address: Cholsey Great Hall Fair Mile, Cholsey, OX10 9GW** **Bankers: Cooperative Bank PO Box 101, 1 Balloon Street, Manchester, M60 4EP** **Nat West Bank 11 Market Place Abingdon OX14 3HH** **Independent Examiner: Nigel Thomas 14 The Forty Cholsey OX10 9LH** ## **Chair’s Report 2023/24:** In April 2024 we celebrated our 10 year anniversary with afternoon tea and displays in the Great Hall and an excellent evening talk on the history of Fair Mile from Ian Wheeler. April was rounded off with a three-night stint by the comedian, Henning When. These were probably our best attended events ever, with a sell-out each night. As well as attracting new people to the Great Hall, we made a tidy profit for the CCDT, which we are able to plough into community events and upgrading our facilities. Many thanks to all of those behind the bar and front of house. We’ve also run our ‘usual’ offering of events, films, National Theatre broadcasts and comedy nights. These have varied attendances but generally make a small profit and are enjoyed by all. One highlight for me was the screening of the environmental film, Six Inches of Soil, this attracted an audience of 150 people and was followed by a lively debate of the future of food in our community. Of course, we continue to have our daytime activities, yoga, table tennis, band practices etc, etc, and community activities in the summer, particularly for the younger people. We are always looking for new events and activities – so if you have any ideas (or want to organise something) let us know. The Cricket Club have had a successful season in 2024, in particular the youth cricket. In 2024, the Club had over 120 children training on a Friday evening with more kids than ever representing Cholsey this year at all levels. Last year, seven youths were accepted on the Oxfordshire pathway and a number playing in Oxfordshire representative teams. The Club has again had under 11, under 13 and under 15 games against local teams and this year even an under 9s match. Also, a number of the youth squad have played in the adult matches – a succession the Club was always hoping for. Thanks are due to all the coaches and helpers (and to CCDT support). The Club could expand further but are limited by the number of helpers and coaches they have – so if you want to help please get in touch. In 2023, we had an energy audit of the Great Hall carried out by Low Carbon Hub. The report made a number of practical suggestions to reduce our carbon emissions and heating costs. A major recommendation was to insulate below the Hall floor, this would both reduce our energy losses and improve the comfort of users. We are seeking grant funding to assist with the costs of this. We are also planning an upgrade to the kitchen which should increase its utility and make it more energy efficient. Page 5 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) As ever the success of the last year has been down to the hard work of our administrator, Anna Swindell, the Trustees and volunteers. Many thanks to all. This year Alan Newell is stepping down from the committee. Alan has done sterling work looking after our audiovisual equipment, running the bar and much else, he will be much missed. We do, however, welcome a new recruit, Philip Lucas. I should add we are still looking for a Treasurer, if you feel you could help have a word with Anna, Sue Jeffs or myself. Finally, thank you all for your support over the last year and I look forward to seeing you at our events next year. ## **Richard Harding, Chair** ## **Report of the Directors For Year Ended 30[th] June 2024** ## **Statement of Directors Responsibilities** Company law requires the directors to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the company and of the profit and loss of the company during that period. In preparing those financial statements the directors are required to; 1. Select suitable accounting policies and then apply them consistently, 2. Make judgements and estimates that are reasonable and prudent, 3. Prepare financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business. The directors 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In preparing this report the directors have taken advantage of special provisions of the Companies Act 2006 relating to small companies. I approve the attached statement of financial activities and balance sheet for the year ended 30[th] June 2024 and confirm that I have made available all information necessary for its preparation. Approved by the Directors on the Signed on their behalf by Director Print Name: Richard Harding Page 6 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Statement of Financial Activities For the Year Ended 30[th] June 2024** ## **Incorporating Income and Expenditure Account** |**Notes**
**Incoming Resources**
**Incoming Resources from**
**Generated Funds (Unrestricted)**
**Grants**
**3a**
**Residents Levy**
**3b**
**Investment Income**
**Other Income**
**3c**
**Total Incoming Resources**
**Resources Expended**
**Costs of Generating Funds**|**2023/24**
**2022/23**
**-**
**-**
**26,310**
**24,887**
**-**
**-**
**69,633**
**50,416**
**95,943**
**75,303**| |---|---| |**Charitable Activities**
**4a**
**Governance Costs**
**4b**
**Total Resources Expended**
**Net Incoming / (outgoing) Resources**|**95,799**
**72,922**
**200**
**202**
**95,999**
**73,124**
**(56)**
**2,179**| Page 7 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Balance Sheet As at 30[th] June 2024** |**Notes**
**Fixed Assets**
**Tangible Assets**
**2**
**Current Assets**|**30th June**
**2024**
**30th June**
**2023**
**43,766**
**48,564**| |---|---| |**Cash at Bank and In Hand**
**5**
**Debtors, Accrued income and Prepayments**
**6**
**Stock**
**Total Current Assets**
**Current Liabilities**
**Creditors and Accruals (falling due in one year)**
**7**
**Deferred Income**
**8**
**Total Assets less Current Liabilities**
**Funds of Charity**
**Designated Capital Fund**
**9**
**Designated Maintenance Fund**
**10**
**Designated Sinking Fund**
**11**
**Coronavirus Recovery Fund**
**12**
**General Fund**
**Funded by**|**131,122**
**121,675**
**14,966**
**13,791**
**846**
**768**
**146,934**
**136,234**
**7,610**
**2,267**
**2,045**
**1,430**
**181,045**
**181,101**
**43,766**
**48,564**
**8,750**
**8,000**
**48,200**
**40,700**
**5,366**
**10,014**
**74,963**
**73,823**
**181,045**
**181,101**| For the year ending 30/06/2024 the company 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 company to obtain an audit in accordance with section 476 of the Companies Act 2006. - The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. - These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with FRS102 SORP. ## **Approved by the Directors on the** ## **Signed on their behalf by Director** ## **Print Name: Richard Harding** Page 8 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) **Notes to the Financial Statements For the Year ending 30[th] June 2024** ## **1. Accounting Policies** ## **Basis of preparation** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts 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 applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011. ## **Incoming Resources** ## **Recognition of Incoming Resources** These are included in the statement of Financial Activities (SOFA) when; - The company becomes entitled to the resources - The Directors are virtually certain they will receive the resources; - The monetary value can be measured with sufficient reliability ## **Incoming Resources with Related Expenditure** Where incoming resources have related expenditure, the incoming resource and related expenditure are reported gross in the SOFA. ## **Grants and Donations** Grants and Donations are only included in the SOFA when there is unconditional entitlement to the resource. ## **Government Grants** The charity has not received government grants in the 2023/24 reporting period. ## **Donated Services and Facilities** These are only included in incoming resources (with an equivalent amount in resource expended) where the benefit to the company is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the company of the service or facility received. ## **Volunteer Help** The value of any voluntary help received is not included in the accounts but is described in the Directors annual report. ## **Investment Income** This is included in the accounts when receivable. Page 9 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Expenditure and Liabilities** ## **Liabilities recognition** Liabilities are recognised as soon as there is a legal or constructive obligation committing the company to pay out resources. ## **Governance Costs** Includes costs of the preparation and examination of statutory accounts, the costs of Directors meetings, and cost of any legal advice to Directors on governance or constitutional matters. ## **Fixed assets** These are capitalised if they can be used for more than one year, and cost at least £100. They are valued at cost or, if gifted, at the value to the charity on receipt. ## **Depreciation** 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 lives as follows; **Asset Class Depreciation Rate** Fixtures & Fittings 10 to 30 years Plant & Machinery 3 to 10 years ## **Stocks** Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. ## **Debtors** Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. ## **Reserves** The trust aims to hold reserves equivalent to at least 50% of its annual core budget, with designated reserves being built up for Maintenance and Sinking funds. Each year, through its budget, the Trust aims to generate enough income in order to transfer sufficient funds into the Maintenance Reserve, and to transfer agreed amounts into the Designated Sinking Fund. Should the income fall short of what is required, then the Trustees may decide to transfer the shortfall from the General Fund into the designated funds. The Designated Capital Fund is held to fund Fixed Asset purchases. On approval of a capital scheme a budget is approved, and funding moved to the Capital Fund. These funds are then released back to the General Fund in line with depreciation of the assets. There is a temporary Coronavirus Recovery Fund. The Charity received a number of Grants to support its position and recovery from Covid-19. Although there was no restriction on where this grant was spent, the Trustees wanted to monitor it separately from the General Fund. Page 10 of 15 ## **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **2. Tangible Fixed assets** ||Plant and|Fixtures and|Total| |---|---|---|---| ||Machinery|Fittings|| |Cost|||| |At 1 July 2023|51,124|91,016|142,140| |Additions|2,203|1,696|3,899| |At 30 June 2024|53,327|92,712|146,039| |Depreciation|||| |At 1 July 2023|29,502|64,074|93,576| |Charge for year|3,800|4,897|8,697| |At 30 June 2024|33,302|68,971|102,273| |Net book value|||| |At 30 June 2023|21,622|26,942|48,564| |At 30 June 2024|20,025|23,741|43,766| ## **3. Incoming Resources** |a).
Grants
Covid-19 Job Retention
Scheme (CJRS)
Covid-19 Retail, Hospitality and
Leisure Kick start Grant
b).
Residents Contributions
c).
Other Income
Events and Hire Income
Donations
Recharges
Sales|2023/24
-
-
-
2023/24
26,310
2023/24
64,209
3,598
1,826
-
69,633|2022/23
-
-| |---|---|---| |||-| |||2022/23
24,887
2022/23
46,977
1,888
1,515
36| |||50,416| Page 11 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **4. Resources Expended** |a).
Charitable Activities
Cost of Events
Admin Wages
Events management
Advertising and Marketing
Repairs and maintenance
Utilities
Cleaning
Admin expenses
Insurance
Service charges
Depreciation
Cricket club water, electric & fire safety
b).
Governance Costs
Independent Examiners Fee
Meeting expenses
Solicitors Fees|2023/24
30,607
6,998
10,497
1,170
4,319
10,548
6,957
5,725
1,691
6,764
8,697
1,826
95,799
2023/24
200
-
-
200|2022/23
17,765
5,874
8,810
1,333
2,558
7,651
7,106
3,227
1,544
5,919
9,620
1,515| |---|---|---| |||72,922| |||2022/23
200
2
-| |||202| ## **5. Cash at bank and in hand** |2023/24
Current Accounts
130,759
Paypal Account
-
Cash in transit (Zettle, Website, Post Office)
88
Petty Cash
275
131,122|2022/23
120,929
-
337
409| |---|---| ||121,675| Page 12 of 15 ## **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **6. Debtors and Prepayments** |Debtors Control Account
Accrued Income - Residents levy
June hires invoiced in July
Cricket Club recharge
Donation due from match funding
Insurance paid in advance
Screening licence deposit
Service charge paid in advance
Subscriptions paid in advance
Acts booked for future events|2023/24
7,469
-
1,028
1,826
-
1,260
150
1,345
388
1,500
14,966|2022/23
1,007
6,524
1,240
1,515
-
1,271
150
1,970
114
-| |---|---|---| |||13,791| ## **7. Creditors and Accruals: Amounts falling due within one year** |Trade creditors
Deposits for future events
Social security taxes
Pension liabilities
Accruals
Independent examiners fee
**erred income**|2023/24
4,321
1,050
510
-
1,529
200
7,610|2022/23
1,017
750
209
55
36
200| |---|---|---| |||2,267| |||| |||| |Deferred Income
Invoices raised for hire after 30th June
Tickets purchased for future events|2023/24
2,045
2,045|2022/23
1,082
348| |||1,430| ## **8. Deferred income** ## **9. Designated Capital Fund** These are the balances used to fund the capital expenditure of the charity. Funds are released from the General Fund account to the Capital Fund to support the initial purchase of fixed assets. These funds are later released from the Capital Fund to the General Fund matching depreciation. ## **10.Maintenance Fund** This fund is being built up to support 5-yearly redecoration of The Great Hall (as required by the lease). In 2023/24 a £750 transfer has taken place (2022/23 £750). ## **11.Sinking Fund** The sinking fund is a reserve for any large capital repair and maintenance expenditure that may be required for the Great Hall in the future. In 2023/24 a transfer of £7,500 has been made from the general fund to the Sinking Fund (2022/23 £5,000). Page 13 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **12.Coronavirus Recovery Fund** In 2019/20 the charity received a grant of £25,000 to support its recovery following the impact of Covid 19 followed by another £12,000 in 2021/22 as a kick-start grant. £10,014 was carried forward into 2023/24 with £4,648 being used in year to purchase equipment and pay for additional advertising and marketing. ## **13.Analysis of movements between funds** ||Designated
Capital Fund
Designated
Maintenance
Fund
Designated
Sinking Fund
Coronavirus
recovery fund
General
Fund|Designated
Capital Fund
Designated
Maintenance
Fund
Designated
Sinking Fund
Coronavirus
recovery fund
General
Fund|Designated
Capital Fund
Designated
Maintenance
Fund
Designated
Sinking Fund
Coronavirus
recovery fund
General
Fund| |---|---|---|---| |Opening balances|48,564
8,000|40,700|10,014
73,823| |Depreciation|(8,697)
8,697||| |Capital Budget|3,899
(3,899)||| |Transfer to Maintenance
Fund|750
(750)||| |Transfer to Coronavirus
Recovery Fund|(4,648)
4,648||| |Transfer to Sinking Fund|7,500
(7,500)||| |(Deficit) / surplus for the
year|(56)||| ||43,766
8,750
48,200
5,366
74,963||| ## **14.Related Party Transactions** There have been no related party transactions in the year ended 30[th] June 2024. ## **15.Number of staff employed** Number of employees during the year was as follows: 1 (2022/23 Employees: 1) ## **16.Corporation Tax** The charity is exempt from tax on income and gains to the extent that these are applied to its charitable objects. Page 14 of 15 **Cholsey Community Development Trust** (A Company Limited by Guarantee) ## **Independent Examiner’s Report on the Accounts for the Year Ended 30[th] June 2024** ## **Respective responsibilities of Trustees and Examiner** The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. ## It is my responsibility to: - Examine the accounts under section 145 of the Charities Act, - To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(9)(b) of the Charities Act), - Accounts comply with the requirements of the 2011 Act - The charity keeps accounting records under section 130 of the Act - To state whether particular matters have come to my attention. ## **Basis of Independent Examiner’s Statement** My examination was carried out in accordance with 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 the 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 matter has come to my attention; - which gives me reasonable cause to believe that in, any material respect, the requirements: - To keeping accounting records in accordance with section 130 of the Charities Act; - To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or - To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. **Nigel Thomas 14 The Forty Cholsey OX10 9LH** **Date: 6[th] February 2025** Page 15 of 15 Cholsey Community Development Trust (A Company Limited by Guarantee) Independent Examinerfs Report on the Accounts for the Year Ended 30th June 2024 Respective responsibilities of Trustees and Examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: Examine the accounts under section 145 of the Charities Act, To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(9)(b) of the Charities Act), Accounts comply with the requirements of the 2011 Act The charity keeps accounting records under section 130 of the Act To state whether particular matters have come to my attention. Basis of Independent Examinerfs Statement My examination was carried out in accordance with 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 the trustees conceming 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 fairf view and the report is limited to those matters set out in the statement below. Independent Examine￿5 Statement In connection with my examination, no matter has come to my attention,. which gives me reasonable cause to believe that in, any material respect, the requirements: To keeping accounting records in accordance with section 130 of the Charities Act., To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met., or To which, in my opinion, attention should be drawn in order to enable a proper understsnding of the accounts to be reached. Nigel Thomas 14 The Forty Cholsey OX10 9LH th Date: 6 February 2025 Page lsof IS