REGISTERED COMPANY NUMBER: 08645262 (England and Wales) REGISTERED CHARITY NUMBER: 1154886
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2023
for
Onsite Building Trust
Onsite Building Trust
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Cash Flow Statement | 5 |
| Notes to the Cash Flow Statement | 6 |
| Notes to the Financial Statements | 7 to 14 |
Onsite Building Trust
Report of the Trustees for the Year Ended 31 March 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
Trustees of the charity
The directors of the charitable company are its trustees for the purposes of charity law. Details of the trustees who have served during the year and since the year end and can be found on page 3.
OBJECTIVES AND ACTIVITIES
The charity’s objects are specifically restricted to the following:
“To further or benefit the residents of the Tees Valley 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 and 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 power to maintain and manage or co-operate with any statutory authority in the maintenance and management of community centres for activities promoted in furtherance of the above objects.”
ACHIEVEMENTS AND PERFORMANCE
The period 1 April 2022 to 31 March 2023 was the charity’s ninth full year of operation.
Onsite Building Trust was a project initiated by Catalyst Stockton as part of the Transforming Local Infrastructure Funding Programme. The charity became fully operational as a company limited by guarantee with charitable status in April 2014, when four community centres were transferred from Stockton-on-Tees Borough Council under the Community Asset Transfer Scheme. In the following years, a further three centres were transferred to the charity, and we now also provide management services to a number of other centres.
The business model which we have created delivers long-term, sustainable, community-based solutions that safeguard the future of community facilities, in the light of increasingly challenging funding settlements for local government.
Our ethos is aimed at keeping centres in the community as vital hubs providing services, promoting engagement and cohesion, whilst ensuring that they become subsidy-free and self-sustaining.
Our mission is “ develop our community centres to be sustainable, viable and easy to use with our communities ”.
Our vision is to be “ agents of community development ”.
2022/2023 was a more normal year after the turbulence caused by the pandemic and we have moved back to a normal operating environment.
There were also a number of other successes in 022/2023. The community café at Ragworth re-opened providing a new service for local people, offering hot meals and snacks.
Gym membership increased and now maintains a steady membership of just over 100 members.
The Soft Play Service launched at Ragworth during the previous year it has developed into a successful service, meeting local need and delivering a positive contribution to Charity financial performance.
The major refurbishment work took place at the Grangefield Centre has dramatically improved the quality of the space for users. We also completed the installation of new toilets in the Glebe Community Centre.
Page 1
Onsite Building Trust
Report of the Trustees - continued for the Year Ended 31 March 2023
Throughout the winter months, Onsite supported the Council’s warm spaces initiative. Warm spaces are free, non-judgemental public spaces where people can go for shelter, save money on their household bills, avoid social isolation, receive vital support and advice while staying as well as possible.
In the latter part of the year, a funding application was submitted to the National Lottery Reaching Communities Fund to improve Stillington Village Hall. If successful, the funding will be used to address a number of problematic building related issues in order to secure the building’s long-term future and ability to continue to meet community need.
FINANCIAL REVIEW
As reflected in the Statement of Financial Activities, the charity had net incoming resources for the year of £4,758 (2022: £151,059), the trustees consider that the cash-backed unrestricted funds broadly equivalent to three month ‘core’ annual expenditure across those funds would be sufficient to enable them to restructure or wind up the charity’s affairs in an orderly manner.
This minimum level of cash-backed unrestricted funds is currently estimated at circa £135,000 which was surpassed by the unrestricted cash and bank balances at both 31 March 2022 and 31 March 2023. This position is carried forward into 2023/2024 and will be reviewed as the charity continues to develop its activities.
PLANS FOR FUTURE PERIODS
The focus on ‘invest to save’ initiatives will continue, as well as reducing energy costs and waste. We will also continue to invest in growing our staff team, and providing them with new skills, to reduce dependence on external contractors and ensure that we have a well-motivated, multi-disciplinary learn.
With one eye on the future, we are looking to continue to invest in the key areas of the centres that generate a positive customer experience including carpeting, decorating, and refurbishing toilets focus on areas of greatest need. We are also working with a number of partners to seek to obtain a new artificial football pitch for the Grangefield site.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk Management
The trustees have conducted a review of the major risks to which the charity is exposed. External risks to funding can only be reduced by allowing for diversification of funding and activities. With the current challenges of increasing costs there is a key focus on managing this and ensuring value for money is delivered in all areas of activity. Internal financial risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity,
Increasing wholesale energy costs is currently the biggest threat to the Charity’s long-term sustainability. Gas and electricity costs represent 30% of annual running costs, up from 14% on last year and these could rise further due to the volatility of the current energy market.
To mitigate risks, the Charity successfully secured funding support from the Energy Resilience Fund, a pot of money part funded by the European Union Regional Development Fund and administered by the Key Fund, to enable community and social enterprises to install energy saving/cost reducing technology within their buildings. The ultimate aim being to help them stabilise or reduce energy bills in the face of rising costs. The fund, a blended mix of loan and grant monies repayable up to 7 years, facilitated the installation of solar panels on at Ragworth Centre.
The management of health and safety for our staff and customers also remained a high priority in 2022/2023. An annual review was undertaken, with Board scrutiny, and the findings considered by the Board. Health and safety is also considered by the charity’s senior management team and at team meetings. Compliance is checked regularly and routinely in relation to fire safety, asbestos, electrical safety, gas safety and legionella, to ensure that all required certification is in place. Building inspections are carried out regularly by Centre Managers and senior staff alongside this process.
Page 2
Onsite Building Trust
Report of the Trustees - continued for the Year Ended 31 March 2023
Energy Costs and Inflation
The cost of energy along with other goods and services is a challenge to the UK economy and charities are not exempt from this. Onsite continuously looks to achieve best value in all its spending decisions and we have also looked to proactively manage our energy costs. We are looking to utilise micro generation (solar panels) on some centres during the next financial year.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
08645262 (England and Wales)
Registered Charity number 1154886
Registered office
Elmwood Centre 53 Darlington Road Stockton-on-Tees TS18 5EP
Trustees/Directors
G Lee S Hosking A J Campbell Mrs P Beall U A Hanif A Sledmore Mrs C Clark
Managing Director I Brown
Company Secretary
I Brown
Independent Examiner
J P Walters & Co Chartered Accountants 67 Duke Street Darlington Co. Durham DL3 7SD
Bankers The Co-operative Bank P.O.Box 250 Delf House Southway Skelmersdale WN8 6WT
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
........................................................................S Hosking - Trustee
Page 3
Onsite Building Trust
Statement of Financial Activities for the Year Ended 31 March 2023
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Unrestricted funds|Restricted funds|Total funds|
|2023|2022|2023|2022|2023|2022|
|Notes|£|£|£|£|£|£|
|INCOME|
|Grants, donations and legacies|3|-|196,105|56,786|31,020|56,786|227,125|
|Income from charitable activities|4|550,725|463,397|10,298|8,175|561,023|471,572|
|Other income|5|67,129|27,782|-|-|67,129|27,782|
|-----------|----------|---------|---------|----------|----------|
|TOTAL INCOME|617,854|687,284|67,084|39,195|684,938|726,479|
|-----------|----------|---------|---------|----------|----------|
|EXPENDITURE|
|Charitable activities|6|646,150|541,690|34,030|33,730|680,180|575,420|
|-----------|----------|---------|---------|----------|----------|
|TOTAL EXPENDITURE|646,150|541,690|34,030|33,730|680,180|575,420|
|-----------|----------|---------|---------|----------|----------|
|Net income for the year|(28,296)|145,594|33,054|5,465|4,758|151,059|
|Transfers between funds|16|5,947|6,724|(5,947)|(6,724)|-|-|
|-----------|----------|---------|---------|----------|----------|
|Net movement in funds|(22,349)|152,318|27,107|(1,259)|4,758|151,059|
|RECONCILIATION OF FUNDS|
|Total funds brought forward|856,230|703,912|24,247|25,506|880,477|729,418|
|------------ -------------|---------|---------|----------|----------|
|TOTAL FUNDS CARRIED FORARD|833,881|856,230|51,354|24,247|885,235|880,477|
|======= =======|=====|=====|======|======|
----- End of picture text -----
The Statement of Financial Activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes form part of these financial statements
Page 4
Onsite Building Trust
Balance Sheet 31 March 2023
| Notes FIXED ASSETS Tangible assets 13 CURRENT ASSETS Debtors 14 Cash at bank Total CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 387,156 79,462 415,878 495,340 (48,615) 446,725 833,881 |
Restricted funds £ 19,574 5,926 56,856 62,782 (31,002) 31,780 51,354 |
31.3.23 Total funds £ 406,730 85,388 472,734 558,122 (79,617) 478,505 885,235 833,881 51,354 885,235 |
31.3.22 Total funds £ 416,984 75,463 424,173 499,636 (36,143) 463,493 880,477 856,230 24,247 880,477 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. S Hosking – Trustee
............................................. G Lee - Trustee
The notes form part of these financial statements
Page 5
Onsite Building Trust
| Cash Flow Statement for the Year Ended 31 March 2023 Notes Cash flows from operating activities Cash generated from operations Net cash inflow from operating activities Cash flows from investing activities Interest element Purchase of tangible fixed assets Net cash outflow from investing activities Cash flows from financing activities Capital repayments – finance lease contracts Net cash outflow from financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.3.23 £ 62,785 62,785 (-) (14,224) (14,224) - - 48,561 424,173 472,734 |
31.3.22 £ 144,339 144,339 (179) (132,069) (132,248) (1,440) (1,440) 10,651 141,497 424,173 |
|---|---|---|
The notes form part of these financial statements
Page 6
Onsite Building Trust
Notes to the Cash Flow Statement for the Year Ended 31 March 2023
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest element of finance lease payments Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by operations 2. ANALYSIS OF CASH AND CASH EQUIVALENTS Notice deposits (less than 3 months) Overdrafts included in bank loans and overdrafts falling due within one year Total cash and cash equivalents |
31.3.23 £ 4,758 24,478 - (9,925) 43,474 62,785 31.3.23 £ - - - |
31.3.22 £ 151,059 23,103 179 (42,161) 12,159 144,339 31.3.22 £ - (-) |
|---|---|---|
The notes form part of these financial statements
Page 7
Onsite Building Trust
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Charities Act 2011 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Income Recognition
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured with sufficient reliability.
- (a) Grants and donations
Voluntary income received by way of grants and donations is included in the Statement of Financial Activities when receivable and only when the Charity has unconditional entitlement to the income;
-
(b) Donated assets, services and facilities
-
These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Leasehold property | - | Straight line over the term of the lease |
|---|---|---|
| Furniture, plant and equipment | - | 15% reducing balance |
| Computer equipment | - | 25% straight line |
| Caravan | - | 15% reducing balance |
| Motor vehicles | - | 25% reducing balance |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
Onsite Building Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
The charity is also part of a multi-employer defined benefit pension scheme, the Teesside Pension Fund, which is administered by Middlesbrough Borough Council. As the charity’s contributions are set in relation to the current service period only and are not affected by any surplus or deficit in the scheme relating to past service of its own employees, the actual contributions paid are treated as the cost to the charity in the accounts.
Operating leases
Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against revenue on a straight-line basis over the period of the lease.
Trade debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand and short-term highly liquid investments with original maturities of three months or less.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fuds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2. COMPANY STATUS
Onsite Building Trust is a private company limited by guarantee registered in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 4 of these financial statements. The nature of the charity’s operations and principal activities are to advance education and the provision of facilities in the interests of social welfare for recreation and leisure time occupation.
3. DONATIONS AND LEGACIES
| Unrestricted funds | Unrestricted funds | Restricted funds | Restricted funds | Total | funds | |
|---|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| Coronavirus Job Retention Scheme | - | 75,437 | - | - | - | 75,437 |
| Local Restrictions Support Grants | - | 22,668 | - | - | - | 22,668 |
| Restart Grants | - | 98,000 | - | - | - | 98,000 |
| National Lottery | - | - | - | 9,900 | - | 9,900 |
| Kickstart | - | - | - | 15,056 | - | 15,056 |
| Umi: business support | - | - | - | 6,064 | - | 6,064 |
| Northern Impact | - | - | 12,850 | - | 12,850 | - |
| Business Growth Fund | - | - | 43,936 | - | 43,936 | - |
| ----------- | ---------- | --------- | --------- | ---------- | ---------- | |
| - | 196,105 | 56,786 | 31,020 | 56,786 | 227,125 | |
| ======= | ====== | ====== | ===== | ====== | ====== |
The charity benefits from the involvement and enthusiastic support of its volunteers. In accordance with accounting standards, the economic contribution of general volunteers is not measured in the accounts.
continued...
Page 9
Notes to the Financial Statements - continued
Onsite Building Trust
for the Year Ended 31 March 2023
4. INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted funds | Unrestricted funds | Restricted funds | Restricted funds | Total | funds | |||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||
| £ | £ | £ | £ | £ | £ | |||
| Room hire and lettings | 550,725 | 463,397 | 10,298 | 8,175 | 561,023 | 471,572 | ||
| ====== | ====== | ====== | ===== | ====== | ====== | |||
| 5. | OTHER INCOME | |||||||
| Unrestricted funds | Restricted funds | Total | funds | |||||
| 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||
| £ | £ | £ | £ | £ | £ | |||
| Gym memberships | 11,130 | 9,279 | - | - | 11,130 | 9,279 | ||
| Parties and soft play | 33,735 | 12,099 | - | - | 33,735 | 12,099 | ||
| Cleaning services | 12,934 | 6,404 | - | - | 12,934 | 6,404 | ||
| Pitch hire | 9,330 | - | - | - | 9,330 | - | ||
| ---------- | ---------- | -------- | -------- | ---------- | ---------- | |||
| 67,129 | 27,782 | - | - | 67,129 | 27,782 | |||
| ====== | ====== | ===== | ===== | ====== | ====== | |||
| 6. | CHARITABLE ACTIVITIES | COSTS | ||||||
| Notes | Unrestricted funds | Restricted funds | Total | funds | ||||
| 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||
| £ | £ | £ | £ | £ | £ | |||
| Salaries and wages | 188,356 | 184,064 | - | 19,396 | 188,356 | 203,460 | ||
| Social security costs | 9,449 | 9,884 | - | - | 9,449 | 9,884 | ||
| Pension contributions | 12,428 | 13,356 | - | - | 12,428 | 13,356 | ||
| Gas | 79,881 | 52,398 | 266 | - | 80,147 | 52,398 | ||
| Electric | 89,592 | 56,845 | 131 | - | 89,723 | 56,845 | ||
| Rates and water | 9,843 | 11,588 | 742 | - | 10,585 | 11,588 | ||
| Maintenance contracts | 19,945 | 15,827 | - | - | 19,945 | 15,827 | ||
| Licences | 2,404 | 3,134 | - | - | 2,404 | 3,134 | ||
| Insurance | 22,551 | 12,664 | - | 365 | 22,551 | 13,029 | ||
| Printing, postage and stationery | 410 | 430 | - | - | 410 | 430 | ||
| Telephone | - | 5,879 | - | - | - | 5,879 | ||
| Cleaning | 26,991 | 11,816 | 1,050 | 1,338 | 28,041 | 13,154 | ||
| Marketing and promotion | 644 | 790 | - | - | 644 | 790 | ||
| Staff travel | 2,746 | 162 | - | - | 2,746 | 162 | ||
| Volunteer and board expenses | 386 | - | - | - | 386 | - | ||
| Training | 209 | 780 | - | - | 209 | 780 | ||
| Repairs and renewals | 72,434 | 55,647 | 22,108 | 6,514 | 94,542 | 62,161 | ||
| Environmental maintenance | - | 2,382 | - | - | - | 2,382 | ||
| Caravan site fees | - | - | 5,786 | 3,797 | 5,786 | 3,797 | ||
| Soft play expenses | - | 3,557 | - | - | - | 3,557 | ||
| Online booking system | - | 4,800 | - | - | - | 4,800 | ||
| Motor expenses | - | 3,601 | - | - | - | 3,601 | ||
| Sundries | 75 | 1,050 | - | - | 75 | 1,050 | ||
| Bad debts | 2,832 | - | - | - | 2,832 | - | ||
| Finance lease charges | - | 179 | - | - | - | 179 | ||
| Loan interest | - | - | 844 | - | 844 | - | ||
| Depreciation | 21,375 | 20,783 | 3,103 | 2,320 | 24,478 | 23,103 | ||
| Support costs | 7 | 80,389 | 64,446 | - | - | 80,389 | 64,446 | |
| Governance costs | 8 | 3,210 | 5,628 | - | - | 3,210 | 5,628 | |
| ----------- | ---------- | --------- | --------- | ---------- | ---------- | |||
| 646,150 | 541,690 | 34,030 | 33,730 | 680,180 | 575,420 | |||
| ======= | ====== | ====== | ===== | ====== | ====== |
continued...
Page 10
Onsite Building Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 7. SUPPORT COSTS Basis of Apportionment Wages and salaries Staff role Social security costs Staff role Pension contributions Staff role 8. GOVERNANCE COSTS Accountancy Legal and professional fees 9. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation Independent Examiner’s fees: - External scrutiny - Other services - Under provision re previous period |
|
|---|---|
10. TRUSTEES' REMUNERATION AND BENEFITS
No remuneration was paid to any trustee or to any person connected to them nor for the year ended 31 March 2022. No trustees were reimbursed any expenses (2022: Nil).
The charity has indemnity insurance on behalf of the trustees.
11. STAFF COSTS
| Wages and salaries Social security costs Pension contributions The average monthly number of employees during the year was as follows: Direct charitable staff Administrative |
31.3.23 £ 260,474 14,113 16,035 290,622 31.3.23 8 4 12 |
31.3.22 £ 260,488 14,450 16,208 291,146 31.3.22 11 3 14 |
||
|---|---|---|---|---|
No employees received emoluments in excess of £60,000. The total employment benefits of key management personnel were £46,149 (2022: £46,149).
continued...
Page 11
Onsite Building Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
12. COMPANY STATUS
H M Revenue & Customs Charities Division have approved the charitable status of Onsite Building Trust and its income is therefore exempt from tax, under Sections 505 and 506 of the Taxes Act 1988, provided that it is applied for charitable purposes only.
13. TANGIBLE FIXED ASSETS
| Leasehold | Plant and | Computer |
Motor | |||
|---|---|---|---|---|---|---|
| Property | Equipment | Equipment | Caravan | vehicles | Total | |
| £ | £ | £ | ||||
| COST | ||||||
| At 1 April 2022 | 306,229 | 194,215 | 12,727 | 30,000 | 8,350 | 551,521 |
| Additions | - | 14,224 | - | - | - | 14,224 |
| Disposals | - | - | - | - | - | - |
| ----------- | ---------- | ---------- | --------- | --------- | ----------- | |
| At 31 March 2023 | 306,229 | 208,439 | 12,727 | 30,000 | 8,350 | 565,745 |
| ----------- | ---------- | ---------- | --------- | --------- | ----------- | |
| DEPRECIATION | ||||||
| At 1 April 2022 | 11,311 | 96,062 | 7,731 | 16,856 | 2,577 | 134,537 |
| Charge for the year | 3,182 | 16,746 | 1,135 | 1,972 | 1,443 | 24,478 |
| Eliminated on disposal | - | - | - | - | - | - |
| ----------- | ---------- | ---------- | --------- | --------- | ----------- | |
| At 31 March 2023 | 14,493 | 112,808 | 8,866 | 18,828 | 4,020 | 159,015 |
| ----------- | ---------- | ---------- | --------- | --------- | ----------- | |
| NET BOOK VALUES | ||||||
| At 31 March 2023 | 291,736 | 95,631 | 3,861 | 11,172 | 4,330 | 406,730 |
| ====== | ====== | ====== | ====== | ====== | ====== | |
| At 31 March 2022 | 294,918 | 98,153 | 4,996 | 13,144 | 5,773 | 416,984 |
| ====== | ====== | ====== | ====== | ====== | ====== |
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.3.23 | 31.3.22 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 69,407 | 51,261 |
| Other debtors | 4,000 | 5,810 |
| Prepayments and accrued income | 11,981 | 18,392 |
| 85,388 | 75,463 | |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Trade creditors and accruals | 44,244 | 31,753 |
| Social security and other taxes | 4,371 | 4,390 |
| Other loans | 31,002 | - |
| 79,617 | 36,143 |
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
continued...
Page 12
Onsite Building Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
16. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||||
|---|---|---|---|---|---|
| Transfers | |||||
| between | At | ||||
| 2023 | At 1.4.22 | Income | Expenditure | Funds | 31.3.23 |
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General | 856,230 | 617,854 | 646,150 | 5,947 | 833,881 |
| ----------- | ---------- | ----------- | ---------- | ---------- | |
| Restricted funds | |||||
| Stockton Borough Council | 13,144 | - | 1,972 | - | 11,172 |
| Caravan lettings | 5,156 | 10,298 | 9,950 | - | 5.504 |
| Thirteen Housing | 1,827 | - | - | (1,827) | - |
| National Lottery | 4,120 | - | - | (4,120) | - |
| Northern Impact | - | 12,850 | - | - | 12,850 |
| Business Growth Fund | - | 43,936 | 22,108 | - | 21,828 |
| ----------- | ---------- | --------- | ---------- | ---------- | |
| Total Restricted funds | 24,247 | 67,084 | 34,030 | (5,947) | 51,354 |
| ----------- | ---------- | ---------- | ---------- | ----------- | |
| Total Funds | 880,477 | 684,938 | 680,180 | - | 885,235 |
| ======= | ====== | ====== | ====== | ====== | |
| Transfers | |||||
| between | At | ||||
| 2022 | At 1.4.21 | Income | Expenditure | Funds | 31.3.22 |
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General | 703,912 | 687,284 | 541,690 | 6,724 | 856,230 |
| ----------- | ---------- | ----------- | ---------- | ---------- | |
| Restricted funds | |||||
| Stockton Borough Council | 15,464 | - | 2,320 | - | 13,144 |
| Caravan lettings | 3,215 | 8,175 | 6,234 | - | 5,156 |
| Thirteen Housing | 1,827 | - | - | - | 1,827 |
| Sport England Covid-19 | 5,000 | - | 5,000 | - | - |
| National Lottery | - | 9,900 | 5,780 | - | 4,120 |
| Kickstart | - | 15,056 | 14,396 | (660) | - |
| Umi: business support | - | 6,064 | - | (6,064) | - |
| ----------- | ---------- | --------- | ---------- | ---------- | |
| Total Restricted funds | 25,056 | 39,195 | 33,730 | (6,724) | 24,247 |
| ----------- | ---------- | ---------- | ---------- | ----------- | |
| Total Funds | 729,418 | 726,479 | 575,420 | - | 880,477 |
| ======= | ====== | ====== | ====== | ====== |
Restricted funds:
Stockton Borough Council – the ownership of a caravan was transferred from Stockton Borough Council to the charity on 1 March 2017. The caravan must be used only for a project as set out in an agreement with Stockton Borough Council.
Caravan lettings income – income from the letting of the caravan which must be used in accordance with the terms of a Conditional Asset Transfer Agreement with Stockton Borough Council for a period of 10 years from 1 March 2017 until 28 February 2027.
continued...
Page 13
Onsite Building Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
Northern Impact – funding towards solar panels at Ragworth Community Centre.
Business Growth Fund – funding towards capital works at Grangefield Community Centre.
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible | Net Current | ||
|---|---|---|---|
| Fixed Assets | Assets | 31.3.23 | |
| £ | £ | £ | |
| Restricted funds | 19,574 | 31,780 | 51,354 |
| Unrestricted funds | 387,156 | 446,725 | 833,881 |
| ----------- | --------- | --------- | |
| 406,730 | 478,505 | 885,235 | |
| ======= | ====== | ====== |
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
19. CONTROLLING PARTY
Throughout the period under review, the charity was under the control of the Board of Trustees.
20. PENSION SCHEME
The charity operates a defined contribution pension plan for its employees and is also part of a multi-employer defined benefit scheme, The Teesside Pension Fund, which is administered by Middlesbrough Borough Council. The pension costs charged in the financial statements represent the contributions payable by the charity in the year and amounted to £16,035 (2022: £16,208), of which £2,055 was outstanding at the year end (2022: £2,545).
Page 14