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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 04475291 REGISTERED CHARITY NUMBER: 1155468

Report of the Trustees and Financial Statements for the Year Ended 31 March 2022 for The Colebridge Trust Ltd

The Colebridge Trust Ltd

Contents of the Financial Statements for the Year Ended 31 March 2022

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 Sheets 16
Cash Flow Statement 17
Notes to the Cash Flow Statement 18
Notes to the Financial Statements 19 to 30

The Colebridge Trust Ltd

Foreword by the Chair, Phil Mayhew for the Year Ended 31 March 2022

On behalf of the Board of Trustees I would like to introduce this report, covering the period from Aril 2021 to March 2022.

Last year I reflected how we were in the midst of the COVID-19 pandemic. Many of the effects of the virus have continued to both impact and steer our work. However, we have also moved forward and continued to develop both our charitable and social enterprise activities.

The board would like to say a huge thank you to the team of staff and volunteers. Once again, the board is immensely proud of what has been achieved in difficult circumstances and limited resources. However, we do have a very willing and able team and we have been able to support hundreds more local people and several community partners through our efforts.

This is actually our 20[th] year of operation and as a result we are strongly embedded in Solihull. Over the time that I have known the trust, we have continued to adapt and change to the needs of local people and based upon feedback from partners and our experienced staff. Although already recognised as Solihull’s community development trust by Locality, it was nice to be referred to as a “vital community anchor” by Solihull Council. Indeed, we have been vital to the local COVID response, including supporting more local people to get vaccinated.

This year, I would like to celebrate the trustees who are vital in helping to govern the organisation and act as a sounding board for the CEO. Thank you to the following for giving up your time for something that I know that you are all passionate about.

As ex-head teachers and education consultants, Dave Dunkley and Deb Wilson have a long history of working with families in Solihull (in particular North Solihull) as well as understanding the wider health and social care system. Lisa Harrison, also has links to schools and also provides valuable insight as a local resident.

Charles Rapson, Philip Hammond and Warren Albutt have expertise in social enterprise, and helping businesses with their plans for growth.

Last but not least Jen Timbrell and Andrew Potter bring with them both knowledge of the local area and specialisms in HR and IT.

Chet Parmar has continued to lead Colebridge as CEO and the work to evolve the trust so that it is able to meet existing and future need. This includes the work that we are increasingly doing within the health and wellbeing space and around supporting families. In addition, a lot of work has gone into modifying technology and introducing a new HR system and CRM system.

Christine Grace, our accountant, has once again been exceptional in managing our finances and the financial management information that enables the managers to make key decisions.

Barry Blyth, Enterprises Manager has kept our ISO9001 assembly and packing social enterprise on track to deliver both social outputs and turnout exceptionally high-quality work. Great to see such a diverse group of participants and employees demonstrating that inclusive workplaces are both happy places to be and very productive.

Wago continue to be a key partner for our enterprise work, therefore it seems appropriate to thank their UK Managing Director, Richard Beighton and his management team once again for showing faith in our work.

Gemma Ashington has stepped up brilliantly to the newly created post of Community Projects Manager, with a great amount of passion and energy. Thanks to Gemma and the team, we have made huge strides helping people to be physically active, mentoring young people and creating a team of volunteers from within the community.

Page 1

The Colebridge Trust Ltd

Foreword by the Chair, Phil Mayhew for the Year Ended 31 March 2022

The Family Hub is a vital partnership between Colebridge Trust and Yorkswood School. Working together with other service providers, we are able to offer families a range of enrichment opportunities. This includes empowering parents to start their own activities and support each other through them.

Serena Sale, the Employment and Skills Manager has worked tirelessly with the employment and skills team to deliver upon projects for the West Midlands Combined Authority, Solihull College, HS2 and ESF (European Social Fund) projects in partnership with Solihull Metropolitan Borough Council. We have maintained our approach to work with all ages and abilities, something that we are able to do with our health and wellbeing approach.

Once more we have been retained as 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. Judy Tullett continues to do an important job as Project Manager, providing safe hands through her many years of community development experience.

Solihull Metropolitan Borough Council (SMBC), West Midlands Combined Authority and Solihull College are key strategic partners and share our passion to strengthen and develop the local community and improve the lives of local people. There has been very close working with the Active Wellbeing Society and Think Active to improve health and well being in the borough too.

Charity, Around Again operates in tandem with Colebridge Trust, getting food and other essentials to people who need it most. The work also includes family budget advice and help to enhance shopping and cooking skills. Our thanks to award winning chef Tom Shepherd, who worked on suitable recipe cards for our slow cooker giveaway project. I am pleased to say that a decision in principle has been agreed to link the two charities together and will be presented to members at next year’s AGM.

At the 2021 / 2022 annual general meeting (AGM) members agreed to changes that would enable us to work in surrounding areas of Solihull, in recognition of boundaries not being recognised by those who present to us in need of support. This was amongst a few other changes to help us to improve the operation and governance.

The discussion of the redevelopment of Junction continues and we continue to hold a high ambition for a new community facility within North Solihull. The community garden is an important asset, used by many individuals and groups. Plans are in place for food growing to support the aforementioned Around Again initiative.

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 2022

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 2022. 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:.

A, The promotion for the benefit of the public of urban regeneration in areas of social and economic deprivation in Solihull by all or any of the following means:

B. To promote the voluntary sector for the public benefit in Solihull by building the capacity of voluntary sector organisations and providing them with the necessary support, information and services to enable them to pursue or contribute to any charitable purpose.

C. Such other purposes as are exclusively charitable in accordance with the laws of England and Wales as the trustees may from time to time determine,

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.

Page 3

The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Our primary charitable activities during the year were the: -

The majority of work was delivered within the Metropolitan Borough of Solihull for the benefit of its residents; or people that have strong links to the area. 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 throughout 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

This year, core 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 collaborative working can be demonstrated through the partnership with Solihull Moors and Northern Star Arts, delivering upon the on Steps to the Real Me project. Young people with additional needs are supported via 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 and the distribution of slow cookers and ingredients to empower people to cook.

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The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2022

HIGHLIGHTS AND IMPACT

Social Enterprise – Employment, Training & Inclusion

"WAGO UK & Ireland are lucky to have you as a partner”

Richard Beighton, UK Managing Director, Wago UK & Ireland

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:

“Very proud to have had the opportunity to transition Colebridge Enterprises from a grant dependant provision for adults with learning disabilities to a fully blown Social Enterprise. And hugely impressed by how you have built on it and moved it forward to double the size and impact”.

Charles Rapson, Former Managing Director, Colebridge Enterprise and current Director of School of Social Entrepreneurs - Midlands

Community Projects

"Having graduated as a mature student, I was keen to find a suitable role that would allow me to apply what I had learned about, regularly challenge me and have a strong social purpose attached to it. After successfully delivering a project to help community groups to become more inclusive, I was interviewed for and accepted the Community Projects Manager role. I have been supported to develop as a manager and to grow our community offer. As a local person that has faced many of the challenges that our service users face, I am determined to use my skills and experience to to make a difference”.

Gemma Ashington - Community Projects Manager

Page 5

The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2022

Junction - Community Centre

Employment and Skills - Support and Advisory Projects

" The help and benefits that Jacques has had mean a great deal to me as it is hard to think how to help my son as he is autistic. I think that there are many people in the community that would benefit and be grateful for the service provided”.

Mother of young person aged 19 with additional needs.

Collaborative Working – Big Local

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 height of the pandemic and post-Covid19.

The street connectors co 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.

Fundraising activities

The charity does not carry out significant fundraising.

Page 6

The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2022

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 2022 the charity made a surplus of £35,866 , increasing reserves to £466,649. Consolidating the results of the trading subsidiary, the group made a surplus of £126,663. This will enable the group to sustain current projects once current funding streams end and further funding is sought.

Charity turnover increased by £92,520 compared with the previous year. This is the result of an increase in grants to support activities. 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 £783,675 from grants of which £182,576 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 2022 are £500,260. 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 31st March 2022.

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.

Page 7

The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2022

FUTURE PLANS

The priorities for the 2022/23 operating year will be:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document and constitution

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.

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.

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.

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.

The CEO is jointly employed with Yorkswood School and his terms and conditions fall under an agreement with Solihull Metropolitan Borough Council. The pay is below comparable benchmarked charity CEO rates, however on a par when benefits are taken into consideration.

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The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2022

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

Page 9

The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2022

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 J Timbrell

Company Secretary

C Parmar

Auditors

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

Bankers

The Co-operative Bank PLC PO Box 101 1 Balloon Street Manchester B91 3RG

Page 10

The Colebridge Trust Ltd

Report of the Trustees for the Year Ended 31 March 2022

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 Report of the Trustees 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 13 December 2022 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 2022 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 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.

Page 12

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.

Page 13

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 noncompliance 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 analytical 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.

David Williams (Senior Statutory Auditor) 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

15 December 2022

Page 14

The Colebridge Trust Ltd

Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
Charitable activities
4
Other trading activities
3
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
Charitable activities
6
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
16
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
773
601,099
345,947
947,819
25,687
754,777
780,464
167,355
432
167,787
332,473
500,260		 Restricted
funds
£
-
182,576
-
182,576
-
223,268
223,268
(40,692)
(432)
(41,124)
122,270
81,146		 31.3.22
Total
funds
£
773
783,675
345,947
1,130,395
25,687
978,045
1,003,732
126,663
-
126,663
454,743
581,406		 31.3.21
Total
funds
£
2,266
678,574
280,758
961,598
31,464
764,964
796,428
165,170
-
165,170
289,573
454,743

The notes form part of these financial statements

Page 15

The Colebridge Trust Ltd (Registered number: 04475291)

Balance Sheets 31 March 2022

Notes
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds		 Group
31.3.22
£
9,245
185,108
505,779
690,887
(118,726)
572,161
581,406
581,406
500,260
81,146
581,406		 31.3.21
£
-
137,076
448,599
585,675
(130,932)
454,743
454,743
454,743
332,473
122,270
454,743		 Charity
31.3.22
£
-
355,852
224,462
580,314
(113,665)
466,649
466,649
466,649
385,503
81,146
466,649		 31.3.21
£
-
315,071
243,058
558,129
(127,346)
430,783
430,783
430,783
308,513
122,270
430,783

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 13 December 2022 and were signed on its behalf by:

P N Mayhew - Trustee

The notes form part of these financial statements

Page 16

The Colebridge Trust Ltd

Cash Flow Statement

for the Year Ended 31 March
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash (used in)/provided by investing 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		 2022
31.3.22
£
66,425
66,425
(9,245)
(9,245)
57,180
448,599
505,779		 31.3.21
£
188,912
188,912
-
-
188,912
259,687
448,599

The notes form part of these financial statements

Page 17

The Colebridge Trust Ltd

Notes to the Cash Flow Statement for the Year Ended 31 March 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
31.3.22 31.3.21
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 126,663 165,170
Adjustments for:
(Increase)/decrease in debtors (48,032) 24,674
Decrease in creditors (12,206) (932)
Net cash provided by operations 66,425 188,912
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.21 Cash flow At 31.3.22
£ £ £
Net cash
Cash at bank and in hand 448,599 57,180 505,779
448,599 57,180 505,779
Total 448,599 57,180 505,779

The notes form part of these financial statements

Page 18

The Colebridge Trust Ltd

Notes to the Financial Statements for the Year Ended 31 March 2022

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, with the exception of investments which are included at market value.

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.

Page 19

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

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 Colebridge Trust Ltd meets the definition of 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 charity 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 2022

2. DONATIONS AND LEGACIES - GROUP

31.3.22 31.3.21
£ £
Donations 773 2,266
773 2,266
The wholly owned trading subsidiary Colebridge Enterprises Ltd is incorporated in the United Kingdo
(company number 08506031) and pays all of its profits to the charity under the Gift Aid scheme.
summary of the trading results is shown below.
31.3.22 31.3.21
£ £
Turnover 335,856 271,838
Cost of sales and administration costs **(245,058) ** (263,095)
NET PROFIT **90,798 ** 8,743
Amount gift aided to the charity **23,958 ** 53,718
Retained in the subsidiary **90,798 ** 8,743
The assets and liabilities of the subsidiary were:
Fixed assets 9,245 -
Current assets 345,067 253,943
Current liabilities **(239,556) ** (229,984)
Total net assets **114,756 ** 23,959
Aggregate share capital and reserves **114,756 ** 23,959

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.

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 - GROUP

Fundraising events
Sales
Room hire		 31.3.22
£
-
336,010
9,937
345,947		 31.3.21
£
6,752
272,039
1,967
280,758

Page 21

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

4.
INCOME FROM CHARITABLE ACTIVITIES - GROUP
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
West Midlands Combined Authority
Kickstart
The Michael Marsh Charitable Trust
29th May 1961 Charitable Trust
The Eveson Charitable Trust
The Active Wellbeing Society
HS2 Grant
Big Local employment support grant
Heart of England
SMBC Essential Food Grant
SMBC Household Support Fund
SMBC Wellbeing on the move
Birmingham Airport Community Fund
The Co operative Society
The Grimmitt Trust
The Richard Cadbury Charitable Trust
William A Cadbury Charitable Trust
The W.E.D. Charitable 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
SMBC – Covid business interruption		 31.3.22
£
783,675
31.3.21
£
97,486
72,000
83,840
92,090
-
109,274
247,329
2,000
5,000
5,000
5,487
25,762
9,762
10,000
1,500
1,650
995
3,455
11,045
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
783,675		 31.3.21
£
678,574
31.3.20
£
70,759
72,000
106,541
91,178
10,000
143,799
-
-
5,000
-
-
18,402
9,762
5,000
1,000
-
-
-
-
750
500
750
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
10,000
678,574

Page 22

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

5. RAISING FUNDS - GROUP

Other trading activities
31.3.22
£
Trading cost of goods sold and overheads
25,687
CHARITABLE ACTIVITIES COSTS - GROUP
Charitable activities		 31.3.21
£
31,464
Direct
Costs
£
978,045

6. CHARITABLE ACTIVITIES COSTS - GROUP

7. NET INCOME/(EXPENDITURE) - GROUP

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

31.3.22 31.3.21
£ £
Auditors' remuneration 2,700 2,500
Auditors' remuneration - subsidiary 1,650 1,600

8. TRUSTEES' REMUNERATION AND BENEFITS - GROUP AND CHARITY

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Page 23

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

9. STAFF COSTS - GROUP AND CHARITY

Wages and salaries
Social security costs
Other pension costs		 31.3.22
£
532,901
29,481
11,123
573,505		 31.3.21
£
518,124
28,175
21,321
567,620

The average monthly number of employees during the year was as follows:


Full time
Part time		 31.3.22

14
23
**37 **		 31.3.21
10
23
33

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

The total amount of employee benefits received by key management personnel is £105,388 (2021 £77,201. 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.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - GROUP

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2,266
Charitable activities
Charitable activities
443,753
Other trading activities
280,758
Total
726,777
EXPENDITURE ON
Raising funds
31,464
Charitable activities
Charitable activities
569,067
Total
600,531		 Restricted
funds
£
-
234,821
-
234,821
-
195,897
195,897		 Total
funds
£
2,266
678,574
280,758
961,598
31,464
764,964
796,428

Page 24

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL COMPARATIVES FOR THE STATEMENT OF FINANCIAL COMPARATIVES FOR THE STATEMENT OF FINANCIAL COMPARATIVES FOR THE STATEMENT OF FINANCIAL COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - GROUP - continued ACTIVITIES - GROUP - continued ACTIVITIES - GROUP - continued
Unrestricted Restricted Total
funds funds funds
£ £ £
NET INCOME 126,246 38,924 165,170
RECONCILIATION OF FUNDS
Total funds brought forward 206,227 83,346 289,573
TOTAL FUNDS CARRIED FORWARD 332,473 122,270 454,743
11. TANGIBLE FIXED ASSETS - GROUP AND CHARITY
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£ £ £ £ £
COST
At 1 April 2021 77,766 - 14,889 2,000 94,655
Additions - 9,245 - - 9,245
At 31 March 2022 77,766 9,245 14,889 2,000 103,900
DEPRECIATION
At 1 April 2021 and
31 March 2022 77,766 - 14,889 2,000 94,655
NET BOOK VALUE
At 31 March 2022 - 9,245 - - 9,245
At 31 March 2021 - - - - -

12. FIXED ASSET INVESTMENTS - CHARITY

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.

Page 25

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Amounts owed by subsidiary undertaking
Social security and other taxes
Prepayments and accrued income		 Group
31.3.22
31.3.21
£
£
110,050
50,089
-
-
29,250
20,020
45,808
66,967
185,108
137,076		 Charity
31.3.22
31.3.21
£
£
77,804
22,999
234,496
225,495
-
-
43,552
66,577
355,852
315,071

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 Group
31.3.22
31.3.21
£
£
12,224
21,635
39,180
44,360
11,287
9,955
56,035
54,982
118,726
130,932		 Charity
31.3.22
31.3.21
£
£
9,262
20,131
39,180
44,360
11,287
9,955
53,936
52,900
113,665
127,346

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		 31.3.22
£
20,833
(20,833)
26,652
26,652		 31.3.21
£
30,807
(30,102)
20,128
20,833

Page 26

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

15.
ANALYSIS OF NET ASSETS BETWEEN FUNDS - GROUP
Unrestricted
Restricted
funds
funds
£
£
Fixed assets
9,245
-
Current assets
609,741
81,146
Current liabilities
(118,726)
-
500,260
81,146
16.
MOVEMENT IN FUNDS - GROUP
Net
movement
At 1.4.21
in funds
£
£
Unrestricted funds
General fund
332,473
167,355
Restricted funds
Street Games Project
1,976
(1,860)
Big Local 6
47,493
(9,847)
Big Lottery STTRM
49,604
(16,689)
Big Local General Purpose
7,068
67
Big Local Winter trails walks
904
(414)
Big Local SMBC essential grant
348
1,861
Big Local Wellbeing grant
4,749
(4,572)
Reach Assembly Business Planning
4,320
(4,320)
Reach HR Consultancy
1,568
(1,568)
Reach - Internal management costs
928
(928)
Reach - Company structure/legal costs
2,880
(2,880)
Active Wellbeing (stay & play)
432
-
Big Local Birmingham Airport
Community Fund
-
128
Big Local Think Active
-
705
Big Local HAF funding
-
(375)
122,270
(40,692)
TOTAL FUNDS
454,743
126,663		 31.3.22
Total
funds
£
9,245
690,887
(118,726)
581,406
Transfers
between
funds
£
432
-
-
-
-
-
-
-
-
-
-
-
(432)
-
-
-
(432)
-		 31.3.21
Total
funds
£
-
585,675
(130,932)
454,743
At
31.3.22
£
500,260
116
37,646
32,915
7,135
490
2,209
177
-
-
-
-
-
128
705
(375)
81,146
581,406

Page 27

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

16. MOVEMENT IN FUNDS - GROUP - continued

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

Unrestricted funds
General fund
Restricted funds
Street Games Project
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
Big Local Birmingham Airport
Community Fund
Big Local Think Active
Big Local HAF funding
TOTAL FUNDS		 Incoming
resources
£
947,819
-
83,839
92,090
67
-
3,210
-
-
-
-
-
2,065
1,305
-
182,576
1,130,395		 Resources
expended
£
(780,464)
(1,860)
(93,686)
(108,779)
-
(414)
(1,349)
(4,572)
(4,320)
(1,568)
(928)
(2,880)
(1,937)
(600)
(375)
(223,268)
(1,003,732)		 Movement
in funds
£
167,355
(1,860)
(9,847)
(16,689)
67
(414)
1,861
(4,572)
(4,320)
(1,568)
(928)
(2,880)
128
705
(375)
(40,692)
126,663

Page 28

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

16. MOVEMENT IN FUNDS - GROUP - continued

Comparatives for 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 29

The Colebridge Trust Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

16. MOVEMENT IN FUNDS - GROUP - continued

Comparative 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

17. RELATED PARTY DISCLOSURES - CHARITY

Colebridge Enterprises Ltd

Subsidiary company

Colebridge Enterprises Ltd is charged during the year for direct costs and management charges totalling £203,481 (2021 £187,913) 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 £24,731.

Amount due from related party at the balance sheet date 31.3.22
£
234,496		 31.3.21
£
225,495

Page 30