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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 04475291 REGISTERED CHARITY NUMBER: 1155468

Report of the Trustees and Financial Statements for the Year Ended 31 March 2021 For The Colebridge Trust Ltd

The Colebridge Trust Ltd

Contents of the Financial Statements for the Year Ended 31 March 2021

Page
Foreword by the Chair 1 to 2
Report of the Trustees 3 to 11
Report of the Independent Auditors 12 to 14
Consolidated Statement of Financial Activities 15
Balance Sheet (consolidated and parent company)
16
Consolidated Cash Flow Statement 17
Notes to the consolidated Cash Flow Statement 18
Notes to the Financial Statements 19 to 30
Detailed Statement of Financial Activities 31

The Colebridge Trust Ltd

Foreword by the Chair, Phil Mayhew for the Year Ended 31 March 2021

On behalf of the Board of Trustees I would like to introduce this report, covering the period from April 2020 to March 2021.

It goes without saying that the greatest issue facing us, the communities we serve and indeed the entire world, has been the Covid pandemic. These have been the most challenging times for us as individuals and I know many have been personally affected by the serious consequences of the virus.

Colebridge Trust has responded magnificently to the challenges as a direct result of the immense and impressive efforts of all our staff and volunteers. They have played their part in helping us respond to the new demands and enabled us to continue to deliver essential support to our beneficiaries. On

behalf of the board of trustees, I would like to say a huge thank you and state that the board is immensely proud of what has been achieved.

A few people and organisations deserve a special mention as I have been particularly aware of their contributions. Chet Parmar, stepped up to becoming our CEO at the most challenging of times. His tireless efforts and wise advice have been in invaluable to the board, resulting in a defining contribution to the on-going revitalisation of the trust and growth in our capabilities.

Christine Grace, our Accountant who has worked diligently to ensure our financial health.

Serena Sale, the Employment and Skills Manager also deserves a mention for leading her wonderfully dedicated team. They have never been in so much demand and have been magnificent in rising to the needs and challenges.

I am also delighted to reflect on the progress our team at Unit 21 have made despite the need to furlough and a period of shutdown. I want to particularly mention here the contribution that Steve Bramley, General Manager made in turning Unit 21 around. The assembly and packing social enterprise operation is now in the safe day-to-day hands of Barry Blyth who is continuing its upward trajectory and increasing our ability to offer vital inclusion and work experience opportunities.

Wago are a key partner and I'd like to thank their UK Managing Director, Richard Beighton and his management team. They worked closely with Colebridge to allow us to restart operations at the industrial unit in a manageable and responsible way after our Covid related lockdown.

Solihull Metropolitan Borough Council (SMBC) are a strategic partner and key stakeholder of our work. We continue to enjoy a positive relationship with the local authority, as we work together to achieve our shared passion to strengthen and develop the local community and improve the lives of local people.

Prior to the pandemic we identified the need to reinvigorate a dormant charity in Around Again. After rebuilding their board and supporting with fundraising, we have been blessed to have continued our close working relationship with them at such a crucial time. Providing essential items, food, advice and guidance to some of the most vulnerable families and individuals within one of our most deprived areas.

I would like to highlight the ongoing commitment and support that the whole of the Colebridge board makes to the effective governance of the charity and social enterprise. Like so many organisations, we have had to make the transition to online meetings and these have worked well despite the occasional technical glitch! We have welcomed three new trustees and board members within this financial year: - Jenifer Timbrell (HR Partner), Alistair Murray (Accountant) and Lisa Harrison (Business Manager). Each as brought with them a specialism and huge enthusiasm for the work that we do.

Looking forward, we are thinking about how we shape things post-Covid. We eagerly await the regeneration of Kingshurst to see what opportunity for collaborative working this brings. The community need is certainly evident, from our existing work in the area and feedback from partners.

Our encouraging dialogue with SMBC on the potential redevelopment of Junction and maintaining a critical mass of other key community facilities within Solihull continues. There is recognition that communities need assets to rebuild and develop resilience. Our plans are ambitious but not unachievable.

Page 1

The Colebridge Trust Ltd

Foreword by the Chair, Phil Mayhew for the Year Ended 31 March 2021

We also look forward to continuing our fruitful relationship with the Cars Area Big Local, where we are acting as the Local Trusted organisation. This is a key legacy of our community infrastructure work and a hugely important project for Smiths Wood.

Despite all of the challenges within the last 12-months, Colebridge Trust has finished the year in a significantly stronger position than we started. These accounts do show a surplus, which will absolutely be reinvested in our capacity to deliver even more effective support and sustain our essential activities. The board are mindful of both rising costs and the Charity Commission's guidance to maintain a healthy reserve position.

So once again, a big thank you to our staff, volunteers, my fellow trustees and partners. Despite the odds, we have kept things going and enabled Colebridge Trust to move forwards for the sake of its beneficiaries.

Phil Mayhew

Chair of Trustees - Colebridge Trust

Page 2

The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2021

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 2021. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Our charity's purposes are as set out in the objects contained in the company's governing documents and are:.

Public benefit

The trustees consider that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

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The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2021

ACHIEVEMENT AND PERFORMANCE Charitable activities Our primary charitable activities during the year were:

Most of our work was delivered within the Metropolitan Borough of Solihull for the benefit of its residents; or people that have strong links to Solihull i.e., through family, work or regular access to services. Our other major beneficiary group were organisations that also support the local area or who carry out charitable work in the surrounding area. We delivered outcomes that helped people into work or further training; improved the health and / or wellbeing of individuals; empowered people to overcome poverty related issues; helped organisations to sustain their charitable activities; and helped people through the Covid-19 pandemic.

In addition to income generated directly, our work has been substantially supported by service level agreements with West Midlands Combined Authority, Solihull Council (European Social Fund) Solihull College and HS2. Furthermore, we received restricted grant funding through the Big Local Fund, which is administered by Local Trust for the Big Lottery Fund. The Directors are pleased to acknowledge their appreciation of this support from funders and strategic partners

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The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2021

The trust continues to bounce back from the loss of the infrastructure contract which we held for many years. This was a key contributor to our core operating costs. This year, these costs have been offset by the increase in the delivery of our employment and skills services, including European Union funded work and a payment by results contract with the West Midlands Combined Authority. Our support of the sector continues through our fundraising service, accountancy service and via our collaborative working. The latter continues to be

demonstrated through the partnership with Solihull Moors and Northern Star Arts on the Steps to the Real Me project, where we support young people with additional needs. The programme includes interventions for physical fitness and mental health. Participants are also supported with careers advice, work experience and employment support. We have also continued to develop our partnership with Around Again Charity to provide a comprehensive support offer to those who are facing the effects of poverty, this includes food parcels during Covid.

Collaborative Working – Big Local

“As one of the best Big Local project within the country, we have proven time and again how communities can be trusted to manage resources for the betterment of their localities” Alan Crawford, Development Manager – Cars Area Big Local and Colebridge Trust

The Colebridge Trust has continued to act as the Local Trusted Organisation to support the resident led committee and hold the funds for this project. Working alongside the local resident-led Partnership, the key achievement has been the ongoing support of people in Smiths Wood, during the Covid pandemic.

The street connectors work tirelessly to respond to the emerging need, identifying those who may not be able to access support and ensuring that the community are accurately represented.

Over the years many new activities have been brought into the area and the team are looking forward to fulfilling their promise to save a vital green space in the area, so that it can be enjoyed by future generations.

“Working directly with service users to listen to their experiences of services across health and social care, housing and communities is something Gemma at Colebridge has helped us to do in the Kingshurst and surrounding area of North Solihull. Gemma’s upbeat and inclusive approach to engagement is second to none.” Alex Evans, Public Engagement Manager - Birmingham Community Healthcare NHS Foundation Trust

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The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2021

Social Enterprise – Employment, Training & Inclusion

"I came to Colebridge when I was made redundant from my role in the airline industry. Due to the economic downturn as a result of Covid-19, I was forced to consider new careers. Whilst receiving employment support as a participant, I was pleased to successfully interview at Colebridge Enterprises – I am now the General Manager, lending my many years of experience to the mentoring and up-skilling of locally unemployed people and inclusion activities, including supported work placements. It’s especially pleasing, as I have a strong connection to the area." Barry Blyth, General Manager – Unit 21

The Trust has continued to support learning disabled adults and other groups of long-term unemployed by providing experience of assembly and packing work (at Unit 21) secured by our trading subsidiary. Key achievements in the year have been:

“It’s an honour that Wago are fortunate to work alongside such a fabulous partner.” Richard Beighton, UK Managing Director, Wago UK & Ireland

“My mentor, Mark gave me confidence and helped me to work hard. He helped me to get fit and talked to me about my life. I proved myself during work experience and then I was offered a paid job at Unit 21, which I did not think was possible. My mentor and mum are really proud of me.” Male, 20 – formerly a student with additional needs

Employment and Skills - Support and Advisory Projects

"After over 30 years of bringing up my children and not working my confidence was at an all-time low. I was referred to Colebridge…what a difference it has made to me! Made me realise that I was able to get out there and fulfil my potential and that I am to do more things than I thought possible" Participant, 47 Female

“I am homeless and sofa surfing. Colebridge Trust has helped me to get fresh, warm clothes and food from the Around Again Social Supermarket. Because of my maths and English, I am going on a course at the local college. I come to Colebridge every week to look for jobs with my coach’s help. I have a problem with drink and sometimes drugs, but the coach is sound and found me someone to speak to - who can hopefully help me.” Participant, 43 Male (dictated to employment coach)

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The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2021

Junction - Community Centre

“The Junction means a lot to me and my small business, opening many doors. We cater for the younger generation, building confidence and self-esteem through dance. This important community venue has empowered young people and helped them to make lifetime friendships. Through Junction, we also deliver adult classes to help them conquer fears of their personal development and / or the wider community. The Junction has opened many doors in the young people, adults and my business”. Toffee, Dance Director / Owner – Sticky Toffee Dance

“Attending Junction has been a valuable experience for me as a community outreach worker. Thanks to Colebridge, I was able to deliver important education and information about fuel poverty and energy saving. I worked with service users from the local area who have benefitted from the holistic nature of the work undertaken at Junction – being empowered to make positive changes.” Sophie Vann -Warmer Home West Midlands

Fundraising activities

The charity does not carry out significant fundraising.

FINANCIAL REVIEW

Financial overview

The consolidated results for the year and the financial position of the company are shown in the financial statements annexed to this report. In the financial year to 31 March 2021 the charity made a surplus of £156,427, increasing reserves to £430,783. Consolidating the results of the trading subsidiary, the group made a surplus of £165,170. This will enable the group to sustain current projects once current funding streams end and further funding is sought.

Charity turnover increased by £193,848 compared with the previous year. This is the result of an increase in grants to support activities and also covid related support. It also includes a grant from the subsidiary company Colebridge Enterprises. The Trustees consider this to be a very positive outturn given the challenging conditions this year.

Sources of charity income included a total of £668,574 from grants of which £234,821 was restricted income from the Big Local Trust, the Big Lottery and other local trusts.

Reserves policy

The charity's consolidated free reserves at 31 March 2021 are £332,473. The unrestricted funds, except those invested in tangible fixed assets, are the free reserves of the charity. There are restricted funds, from the Big Local Trust and the Big Lottery, included in the total reserves at 31 March 2021.

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The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2021

The board aspires to sustain free reserves above a level of three months running costs and this is currently the position. This policy will be reviewed in the next financial year.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

FUTURE PLANS

The priorities for the 2021/22 operating year will be:

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document and constitution

The organisation is a charitable company limited by guarantee incorporated on 7 February 2002 and registered as a charity on 24 January 2014. It was established under a Memorandum of Association, the objects of which were amended by the Annual General Meeting on 4 November 2013 prior to application for registration as a charity. It is governed under its Articles of Association.

Organisational structure

The directors of the company are also charity trustees for the purposes of charity law and form the Board of the company. Under the Articles of Association, half of the members of the Board will stand down each year at the AGM. Each Trustee/Director gives their time voluntarily and receives no benefit from the charity. New Trustee/Directors are subject to an induction programme and training in the responsibilities of the role is available to those who have not previously had experience of such a role and relevant training.

The Board delegate day to day responsibility for the operation of the company to the Chief Executive Officer, Mr C Parmar, and a Scheme of Delegation is in place. Any risks to which the charity is exposed are identified through regular review and assessed before consideration and determination of management action through the Board. The charity is not presently subject to any major risks requiring disclosure.

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The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2021

Key management remuneration

The board of directors, who are the Trust's trustees, and the senior management team comprise the key management personnel of the charity, in charge of directing and controlling, running and operating the Trust on a day-to-day basis. All directors give of their time freely and no director received remuneration in the year.

The pay of the senior staff is usually reviewed annually and normally increased in accordance with average earnings. Due to the uncertainties arising from Covid it was not possible to do this during 2020 / 2021. Our usual process is for directors benchmark against pay levels in other charities in the West Midlands region of a similar size. This also considers opportunities to work on a voluntary basis. Thereafter, roles are advertised at the target rate suggested by these benchmarks and after that the market prevails.

Risk management

The trustees have examined the major strategic, business and operational risk's which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen those risks

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The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04475291 (England and Wales)

Registered Charity number 1155468

Registered office

Junction 100 Chapelhouse Road Chelmsley Wood B37 5HA

Trustees

P N Mayhew - Chair D A Dunkley – Vice Chair W J Albutt P J Hammonds C Rapson D Wilson A S Potter L Harrison A J Murray J Timbrell

Company Secretary

C Parmar

Auditors

Locke Williams Associates LLP Chartered Accountants Registered Auditors c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL

Bankers

The Co-operative Bank PLC PO Box 101 1 Balloon Street Manchester M60 4EP

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The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2021

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Colebridge Trust Ltd for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Locke Williams Associates LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 14 December 2021 and signed on its behalf by:

P N Mayhew - Trustee

Page 11

Report of the Independent Auditors to the Members of The Colebridge Trust Ltd

Opinion

We have audited the financial statements of The Colebridge Trust Ltd (the parent 'charitable company') and its subsidiary (the ‘group’) for the year ended 31 March 2021 which comprise the consolidated Statement of Financial Activities, the consolidated and parent company Balance Sheet, the consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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Report of the Independent Auditors to the Members of The Colebridge Trust Ltd

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to these risks, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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Report of the Independent Auditors to the Members of The Colebridge Trust Ltd

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of third parties where appropriate.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud.

As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and checking the authorisation of expenditure as part of our substantive testing, using analyitical review to identify any significant or unusual transactions and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

for and on behalf of Locke Williams Associates LLP Chartered Accountants Registered Auditors c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL

20 December 2021 Date: .............................................

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The Colebridge Trust Ltd

Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2021

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
2,266
Charitable activities
4
Charitable activities
443,753
Other trading activities
3
280,758
Total
726,777
EXPENDITURE ON
Raising funds
5
31,464
Charitable activities
6
Charitable activities
569,067
Total
600,531
NET INCOME
126,246
RECONCILIATION OF FUNDS
Total funds brought forward
206,227
TOTAL FUNDS CARRIED FORWARD
332,473		 Restricted
funds
£
-
234,821
-
234,821
-
195,897
195,897
38,924
83,346
122,270		 31.3.21
Total
funds
£
2,266
678,574
280,758
961,598
31,464
764,964
796,428
165,170
289,573
454,743		 31.3.20
Total
funds
£
3,835
529,448
237,049
770,332
27,573
681,904
709,477
60,855
228,718
289,573

The notes form part of these financial statements

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The Colebridge Trust Ltd (Registered number: 04475291)

Balance Sheets 31 March 2021

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds		 Group
31.3.21
£
-
137,076
448,599
585,675
(130,932)
454,743
454,743
454,743
332,473
122,270
454,743		 31.3.20
£
-
161,750
259,687
421,437
(131,864)
289,573
289,573
289,573
206,227
83,346
289,573		 Charity
31.3.21
£
-
315,071
243,058
558,129
(127,346)
430,783
430,783
430,783
308,513
122,270
430,783		 31.3.20
£
-
278,353
125,302
403,655
(129,299)
274,356
274,356
274,356
191,010
83,346
274,356

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 14 December 2021 and were signed on its behalf by:

P N Mayhew - Trustee

The notes form part of these financial statements

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The Colebridge Trust Ltd

Consolidated Cash Flow Statement
for the Year Ended 31 March 2021
31.3.21
Notes
£
Cash flows from operating activities
Cash generated from operations
1
188,912
Tax paid
-
Net cash provided by operating activities
188,912
Change in cash and cash equivalents
in the reporting period
188,912
Cash and cash equivalents at the
beginning of the reporting period
259,687
Cash and cash equivalents at the end
of the reporting period
448,599		 31.3.20
£
79,095
23
79,118
79,118
180,569
259,687

The notes form part of these financial statements

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The Colebridge Trust Ltd

Notes to the Consolidated Cash Flow Statement for the Year Ended 31 March 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
31.3.21 31.3.20
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 165,170 60,855
Adjustments for:7
Decrease in stocks - 1,330
Decrease/(increase) in debtors 24,674 (12,464)
(Decrease)/increase in creditors (932) 29,374
Net cash provided by operations 188,912 79,095
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.20 Cash flow At 31.3.21
£ £ £
Net cash
Cash at bank and in hand **259,687 ** 188,912 448,599
**259,687 ** 188,912 448,599
Total **259,687 ** 188,912 448,599

The notes form part of these financial statements

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The Colebridge Trust Ltd

Notes to the Financial Statements for the Year Ended 31 March 2021

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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiary Colebridge Enterprises Ltd on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the Trust has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

Income

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 reliably.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Income from trading activities includes income earned from fundraising events. trading activities and recharges of premises costs to tenants. Income is received in exchange for supplying goods and services, in order to raise funds and is recognised when entitlement has occurred.

Income from grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

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. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as an expense against charitable activities.

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The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES - continued

Expenditure

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Tangible fixed assets

All tangible fixed assets are fully depreciated.

Individual fixed assets costing £1,000 or more are capitalised at cost.

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 at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

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 funds 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.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 20

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
31.3.21 31.3.20
£ £
Donations 2,266 3,835

The wholly owned trading subsidiary Colebridge Enterprises Ltd is incorporated in the United Kingdom (company number 08506031) and pays all of its profits to the charity under the Gift Aid scheme. A summary of the trading results is shown below.

Turnover
Grants received
Cost of sales and administration costs

Grant received from The Colebridge Trust Ltd
NET PROFIT
Amount gift aided to the charity
Retained in the subsidiary
The assets and liabilities of the subsidiary were:
Current assets
Current liabilities

Total net assets
Aggregate share capital and reserves		 31.3.21
£
271,838
10,000
(273,095)
-
8,743
53,718
8,743
253,943
(229,984)
23,959
**23,959 **		 31.3.20
£
202,407
-
(187,192)
38,503
53,718
-
53,718
188,355
(173,139)
15,216
15,216

The company pays over its taxable profits to The Colebridge Trust Ltd by way of a Gift Aid donation. In accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", this will be treated as a distribution of profits and so will be accounted for when paid, not accrued.

3. OTHER TRADING ACTIVITIES

Fundraising events
Sales
Room hire		 31.3.21
£
6,752
272,039
1,967
280,758		 31.3.20
£
11,023
216,726
9,300
237,049

Page 21

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

4. INCOME FROM CHARITABLE ACTIVITIES

4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Charitable activities
Grants received, included in the above, are as follows:
Solihull Metropolitan Borough Council
Solihull College
Community Fund - Big Local
Community Fund - 'Steps to the Real Me'
The Sobell Foundation
Reach Fund
West Midlands Combined Authority
The Grimmitt Trust
The Richard Cadbury Charitable Trust
William A Cadbury Charitable Trust
Michael Marsh Charitable Trust
Bernard Piggott Charitable Trust
29th May 1961 Charitable Trust
The W.E.D. Charitable Trust
Co-op Foundation
Edward Cadbury Charitable Trust
Active Wellbeing Stay and play
F B Bailey Thomas Charitable Fund
The Sheldon Trust
F W Bailey Thomas Grant Charitable Trust
The Sheldon Trust
Field Family Trust(Assembly)
Gostling Foundation
Rowlands Trust
Archer Trust
The Cole Charitable Trust
Love Brum
Employment and Skills small Grants
HMRC Job Retention Scheme
SMBC Covid Business Support Grant
Awards for All Covid Support
The Active Wellbeing Society
HS2 Grant
Big Local employment support grant
Heart of England
SMBC Essential Food Grant
SMBC – Covid business interruption
5.
RAISING FUNDS
Other trading activities
Trading cost of goods sold and overheads		 31.3.21
£
678,574
31.3.21
£
70,759
72,000
106,541
91,178
10,000
-
143,799
750
500
750
-
-
5,000
1,000
-
-
-
-
-
8,036
5,000
3,438
5,000
2,000
1,500
1,000
3,500
890
51,671
10,000
9,795
30,303
18,402
9,762
5,000
1,000
10,000
678,574
31.3.21
£
**31,464 **		 31.3.20
£
529,448
31.3.20
£
74,584
72,000
145,684
94,978
10,000
3,520
95,543
750
500
-
2,000
1,000
5,000
1,000
7,681
1,000
1,172
8,036
5,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
529,448
31.3.20
£
27,573

Page 22

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

6. CHARITABLE ACTIVITIES COSTS

Charitable activities
SUPPORT COSTS
Charitable activities
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Auditors' remuneration - subsidiary		 Direct
Costs
£
762,464
Support
costs (see
note 7)
Totals
£
£
2,500
764,964
Governance
costs
£
2,500
31.3.21
31.3.20
£
£
2,500
2,500
1,600
1,750

7. SUPPORT COSTS

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Full time
Part time		 31.3.21
£
518,124
28,175
21,321
567,620

31.3.21
10
23
33		 31.3.20
£
396,733
23,086
5,514		 31.3.20
£
396,733
23,086
5,514
425,333
31.3.20
8
20
28

No employees received emoluments in excess of £60,000.

The total amount of employee benefits received by key management personnel is £77,201 (2020 £41,272. The Trust considers its key management personnel compromise the board of directors, who are the Trust's trustees, and the senior management team. From January 2020 the chief executive officer is not on the payroll of the charity.

Page 23

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
894
Charitable activities
Charitable activities
280,501
Other trading activities
235,297
Total
516,692
EXPENDITURE ON
Raising funds
27,573
Charitable activities
Charitable activities
448,992
Total
476,565
NET INCOME
40,127
Transfers between funds
259
Net movement in funds
40,386
RECONCILIATION OF FUNDS
Total funds brought forward
165,838
TOTAL FUNDS CARRIED FORWARD
206,224		 Restricted
funds
£
2,941
248,947
1,752
253,640
-
232,912
232,912
20,728
(259)
20,469
62,880
83,349		 Total
funds
£
3,835
529,448
237,049
770,332
27,573
681,904
709,477
60,855
-
60,855
228,718
289,573

Page 24

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

12. FINANCIAL PERFORMANCE OF THE CHARITY

The consolidated statement of financial activities includes the results of the charity’s wholly owned subsidiary. The summary financial performance of the charity alone is:

Income
Gift aid from subsidiary company
Expenditure on raising funds
Expenditure on charitable activities
Net income
Total funds brought forward
Total funds carried forward
TANGIBLE FIXED ASSETS
Improvements
to
property
£
COST
At 1 April 2020 and 31 March 2021
77,766
DEPRECIATION
At 1 April 2020 and 31 March 2021
77,766
NET BOOK VALUE
At 31 March 2021
-
At 31 March 2020
-		 Fixtures
and
fittings
£
14,889
14,889
-
-		 31.3.21
31.3.20
£
£
867,673
727,543
53,718
-
921,391
727,543
-
(764,964)
(720,407)
156,427
7,136
274,356
267,220
430,783
274,356

Computer
equipment
Totals
£
£
2,000
94,655
2,000
94,655
-
-
-
-

13. TANGIBLE FIXED ASSETS

14. FIXED ASSET INVESTMENTS

The charity holds the 1 issued £1 Ordinary share in Colebridge Enterprises Limited. This is included in the balance sheet of the charity at nil value.

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Amounts owed by subsidiary undertaking
Social security and other taxes
Prepayments and accrued income		 Group
31.3.21
31.3.20
£
£
50,089
83,735
-
-
20,020
20,388
66,967
57,627
137,076
161,750		 Charity
31.3.21
31.3.20
£
£
22,999
55,186
225,495
169,071
-
-
66,577
54,096
315,071
278,353

Page 25

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 Group
31.3.21
31.3.20
£
£
21,635
25,264
44,360
39,988
9,955
3,316
54,982
63,296
130,932
131,864		 Charity
31.3.21
31.3.20
£
£
20,131
24,454
44,360
39,988
9,955
3,316
52,900
61,541
127,346
129,299

Income is deferred where it is subject to the performance of certain terms or conditions. Where these have not been met at the balance sheet date, the income is not recognised in the statement of financial activities.

Deferred income brought forward
Income now released to SoFA
Income received in the year and deferred
Deferred income carried forward		 31.3.21
£
30,807
(30,102)
20,128
20,833		 31.3.20
£
705
-
30,102
30,807

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
funds
£
Current assets
463,405
Current liabilities
(130,932)
332,473		 Restricted
funds
£
122,270
-
122,270		 31.3.21
Total
funds
£
585,675
(130,932)
454,743		 31.3.20
Total
funds
£
421,437
(131,864)
289,573

Page 26

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

18. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Street Games Project
Co-op foundation
Big Local 6
Big Lottery STTRM
Big Local General Purpose
Big Local Winter trails walks
Big Local SMBC essential grant
Big Local Wellbeing grant
Reach Assembly Business Planning
Reach HR Consultancy
Reach - Internal management costs
Reach - Company structure/legal costs
Active Wellbeing (stay & play)
TOTAL FUNDS		 At 1.4.20
£
206,227
1,976
938
55,441
17,923
7,068
-
-
-
-
-
-
-
-
83,346
289,573		 Net
movement
in funds
£
126,246
-
(938)
(7,948)
31,681
-
904
348
4,749
4,320
1,568
928
2,880
432
38,924
165,170		 At
31.3.21
£
332,473
1,976
-
47,493
49,604
7,068
904
348
4,749
4,320
1,568
928
2,880
432
122,270
454,743

Page 27

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

18. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
The Field Family Charitable Trust -
employment support staff
Co-op foundation
Big Local 6
Big Lottery STTRM
Big Local Winter trails walks
Big Local SMBC essential grant
Big Local Wellbeing grant
F Bailey Grant
Gostling Foundation
Rowlands Trust
Archer Trust
Reach Assembly Business Planning
Reach HR Consultancy
Reach - Internal management costs
Reach - Company structure/legal costs
Active Wellbeing (stay & play)
TOTAL FUNDS		 Incoming
resources
£
726,777
3,438
-
106,541
91,178
1,000
1,000
5,000
8,036
5,000
2,000
1,500
4,320
1,568
928
2,880
432
234,821
961,598		 Resources
Movement
expended
in funds
£
£
(600,531)
126,246
(3,438)
-
(938)
(938)
(114,489)
(7,948)
(59,497)
31,681
(96)
904
(652)
348
(251)
4,749
(8,036)
-
(5,000)
-
(2,000)
-
(1,500)
-
-
4,320
-
1,568
-
928
-
2,880
-
432
(195,897)
38,924
(796,428)
165,170

Page 28

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Grant scheme
Love Brum
Street Games Project
Junction local research
Eveson Charitable Trust - assembly
work
The Field Family Charitable Trust -
employment support staff
Co-op foundation
Big Local 6
Big Lottery STTRM
Big Local General Purpose
TOTAL FUNDS		 At 1.4.19
£
165,838
45,996
2,000
2,896
5,736
3,000
3,252
-
-
-
-
62,880
228,718		 Net
movement
in funds
£
40,130
(42,590)
(2,000)
(920)
(5,736)
(3,000)
(3,252)
938
55,441
17,923
3,921
20,725
60,855		 Transfers
between
funds
£
259
(3,406)
-
-
-
-
-
-
-
-
3,147
(259)
-		 At
31.3.20
£
206,227
-
-
1,976
-
-
-
938
55,441
17,923
7,068
83,346
289,573

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Grant scheme
Love Brum
Street Games Project
Junction local research
Eveson Charitable Trust - assembly
work
The Field Family Charitable Trust -
employment support staff
Co-op foundation
Big Local 6
Big Lottery STTRM
Big Local General Purpose
TOTAL FUNDS		 Incoming
resources
£
516,692
(5,727)
-
-
-
-
-
7,682
152,058
94,979
4,648
253,640
770,332		 Resources
Movement
expended
in funds
£
£
(476,562)
40,130
(36,863)
(42,590)
(2,000)
(2,000)
(920)
(920)
(5,736)
(5,736)
(3,000)
(3,000)
(3,252)
(3,252)
(6,744)
938
(96,617)
55,441
(77,056)
17,923
(727)
3,921
(232,915)
20,725
(709,477)
60,855

Page 29

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

19. RELATED PARTY DISCLOSURES

Colebridge Enterprises Ltd

Subsidiary company

Colebridge Enterprises Ltd is charged during the year for direct costs and management charges totalling £187,913 (2020 £159,619) in respect of staff costs and overheads. All profits in the company are gift aided to the charity. The donation received in the year was £53,718.

Amount due from related party at the balance sheet date 31.3.21
£
225,495		 31.3.20
£
170,071

This page does not form part of the statutory financial statements

Page 30

The Colebridge Trust Ltd

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

31.3.21 31.3.20
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 2,266 3,833
Gift aid donation from subsidiary company 53,718 -
55,984 3,833
Other trading activities
Fundraising events 6,752 11,023
Contractual payments 188,114 173,939
Room hire **1,967 ** 9,300
196,833 194,262
Charitable activities
Grants 668,574 529,448
Total incoming resources 921,391 727,543
EXPENDITURE
Charitable activities
Wages 518,124 396,733
Social security 28,175 23,086
Pensions 21,321 5,514
Rent, rates, premises charges and water 5,907 15,253
Insurances 8,577 8,345
Heat, light and power 3,284 5,513
Office expenses 14,635 17,708
Motor and travel expenses 817 3,174
Professional fees 59,406 102,234
Purchases 10,215 24,073
General expenses 21,844 5,459
Grant expenditure 65,037 98,792
Training costs 2,772 5,073
Marketing, PR and networking 2,350 4,252
Non recoverable VAT write off - 1,831
Donations made - 375
Bad debts - 492
762,464 717,907
Support costs
Governance costs
Auditors' remuneration 2,500 2,500
Total resources expended **764,964 ** 720,407
Net income 156,427 7,136

This page does not form part of the statutory financial statements

Page 31