**REGISTERED COMPANY NUMBER: 04475291 REGISTERED CHARITY NUMBER: 1155468** **Report of the Trustees and Financial Statements for the Year Ended 31 March 2023 for The Colebridge Trust Ltd** The Colebridge Trust Ltd Contents of the Financial Statements for the Year Ended 31 March 2023 Page Foreword by the Chair Report of the Trustees 3 to 11 Report of the Independent Audltors 12 to 24 Statement of Flnanclal Actlvltles 15 Balance Sheet 16 Cash Flow Statement 17 Notes to the Cash Flow Statement 18 Notes to the Financial Statements 19 to 29 On behalf of the Board of Trustees I would like to introduce this report, covering the period from 1[st] April 2022 to 31[st] March 2023. I would like to start by saying thank you to Phil Mayhew, who has stepped down as Chair for personal reasons but has agreed to remain on the board to offer his experience and support for this financial period. I am grateful for the opportunity to step in as interim Chair of the board, having been a trustee for a number of years and worked within North Solihull for over 30 years. As a former school head and former CEO of the North Solihull Schools collaborative, Unity, the local community is close to my heart and for many years, I have been involved in range of initiatives that have the aim of narrowing the gap between more affluent and the most deprived parts of Solihull. In particular, I have been involved with work that highlights the importance of providing young people with the best start in life. To facilitate this, it has always been hugely important to support their families and also to ensure that the wider community is also able to thrive. It has been particularly pleasing to see the work at Evergreen (family hub) and Junction (community centre) grow around this need. The partnership with Yorkswood School for the development of the Family Hub is a great example of what organisations can achieve when collaborating. The board of trustees would like to thank the team staff and volunteers for another successful year. continued to help people improve attainment, secure jobs. Improve health and wellbeing and continued to deliver much relied upon community facilities. Our partnership working has resulted in the development of community assets and we continue to be the Local Trusted Organisation for Cars Area Together. We also continue to have a presence at Three Trees Community Centre and partnerships with Solihull Moors, Solihull Council and the West Midlands Combined Authority; amongst others. Our work has always been driven by an Asset Based Community Development (ABCD) approach that responds to local need. Local people and groups are key to the delivery of our work and help us to obtain the outcomes that we do so thank you to everybody that has participated in our work during this past year. The CEO, Chet Parmar and his leadership team continue to be committed to the development of the trust and social enterprise. As our work evolves they are working tirelessly to improve and adapt our ways of working so that we continue to work efficiently and effectively ensuring that we can deliver as much value as possible for the income that we generate and reinvest in our work. Our social enterprise is once again grateful to have the involvement and support of WAGO UK and Ireland, who have enabled us to support many people with work-based training, employment, and inclusion opportunities. The private sector can play an important role in ensuring the sustainability and impact of community organisations. Finally, I would like to thank fellow trustees and directors for giving up their time and expertise to govern the charity and enterprise. The trust prides itself on being transparent and accountable to enable others to continue placing their trust in us. On behalf of the Board of Trustees I would like to introduce this report, covering the period from 1[st] April 2022 to 31[st] March 2023. I would like to start by saying thank you to Phil Mayhew, who has stepped down as Chair for personal reasons but has agreed to remain on the board to offer his experience and support for this financial period. I am grateful for the opportunity to step in as interim Chair of the board, having been a trustee for a number of years and worked within North Solihull for over 30 years. As a former school head and former CEO of the North Solihull Schools collaborative, Unity, the local community is close to my heart and for many years, I have been involved in range of initiatives that have the aim of narrowing the gap between more affluent and the most deprived parts of Solihull. In particular, I have been involved with work that highlights the importance of providing young people with the best start in life. To facilitate this, it has always been hugely important to support their families and also to ensure that the wider community is also able to thrive. It has been particularly pleasing to see the work at Evergreen (family hub) and Junction (community centre) grow around this need. The partnership with Yorkswood School for the development of the Family Hub is a great example of what organisations can achieve when collaborating. This partnership is set to grow as we work with other schools and support the plans of the local authority for a network of hubs. The board of trustees would like to thank the team staff and volunteers for another successful year. continued to help people improve attainment, secure jobs. Improve health and wellbeing and continued to deliver much relied upon community facilities. Our partnership working has resulted in the development of community assets and we continue to be the Local Trusted Organisation for Cars Area Together. We also continue to have a presence at Three Trees Community Centre and partnerships with Solihull Moors, Solihull Council and the West Midlands Combined Authority; amongst others. Our work has always been driven by an Asset Based Community Development (ABCD) approach that responds to local need. Local people and groups are key to the delivery of our work and help us to obtain the outcomes that we do so thank you to everybody that has participated in our work during this past year. The CEO, Chet Parmar and his leadership team continue to be committed to the development of the trust and social enterprise. As our work evolves they are working tirelessly to improve and adapt our ways of working so that we continue to work efficiently and effectively ensuring that we can deliver as much value as possible for the income that we generate and reinvest in our work. Our social enterprise is once again grateful to have the involvement and support of WAGO UK and Ireland, who have enabled us to support many people with work-based training, employment, and inclusion opportunities. The private sector can play an important role in ensuring the sustainability and impact of community organisations. Finally, I would like to thank fellow trustees and directors for giving up their time and expertise to govern the charity and enterprise. The trust prides itself on being transparent and accountable to enable others to continue placing their trust in us. **Dev Wilson Interim Chair of Trustees The Colebridge Trust Limited** - 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, - Provision of employment and skills related activities for people often deemed furthest away from employment due to poor attainment, disability, learning difficulty, or health issues. - Delivery of specialist projects for young people, to help improve their future prospects by improving their health and wellbeing needs, educational attainment and employability skills. - Provision of support in relation to the relief of the effects of deprivation, including initiatives for food poverty, health and wellbeing, inclusion and advocacy services. - Support of local groups and organisations through the delivery of consultancy, back office support, representation at steering groups and coproduction / coworking. This includes representing the VCFSE sector at Integrated Care System steering group meetings. - Strategic and operational support of Around Again Charity. - coordination and delivery of support relating to the emerging Covid-19 needs including access to food; wellbeing; and physical health. - Promotion and delivery of partner health and wellbeing initiatives, with partners such as Solihull Council, The Active Wellbeing Society and Think Active. Creation and management of the Active Communities Network. - The delivery of high-quality assembly and packing services which facilitate vital work experience and inclusion opportunities; and - Operation of community facilities to enhance the lives of local people and facilitate vital health and wellbeing opportunities. This includes Junction, our community centre and community gardens. - Running of a Family Hub in North Solihull, to improve the life chances of young people and their families through activities that enhance daily life, educate and help create opportunities. - Consultancy to local authorities around social enterprise, inclusion and funding. WAGO UK & Ireland have developed a close working relationship with Colebridge Trust / Colebridge Enterprises. By working together, they have helped us to meet our obligations by providing a high quality assembly and packaging service for one of our best selling products. At the same time, WAGO UK & Ireland collaboration with Colebridge Trust has helped to provide valuable training and development opportunities for their beneficiaries, empowering them to build personal and professional skills whilst benefiting from inclusion activities that will help them to achieve their goals. Our experience has taught us that by joining forces with local charities and social enterprises, we can make a positive impact on our community and create a brighter **Wago UK & Ireland** - Growth in the number of hours of supported employment delivered over 600 hours each week. Secured new customer within the IT industry. - Transitioned people into mainstream employment. - Continued providing inclusion opportunities, directly to learning disabled adults. - Continued providing inclusion opportunities in partnership with local special schools and colleges. - Supported the health and wellbeing of participants through mentoring and peer-to-peer support. - Passed the ISO9001 audit and achieved high levels of quality in our assembly process. during this stage my anxiety and confidence was at its all-time low. I was unable to talk to new people sometimes to the point of not even being able to form a sentence. The Family Hub Coordinator told me what they had to offer, the one thing that sparked interest the most was the opportunity to volunteer. I began volunteering in November at the Friday family activity session and began training to teach table tennis to the group. The staff working with me, getting me doing new things and without my knowing building on my confidence. In June I took up a volunteering opportunity at another Colebridge Trust office, which improved my personal development even more. I met new people and made friends and within one month, I found paid **Jo Sowsberry, Colebridge Trust Volunteer** - Continued collaboration with local partners to deliver wellbeing trail in targeted areas of North Solihull with higher levels of physical inactivity. - Delivery of Long Covid Workshops to raise awareness amongst communities are disengaged from health services. - through local volunteers. - Securing Commonwealth Games Legacy funding as part of a multiagency project team, aimed at upscaling health across the Borough, - Delivering support to ~~f~~ amilies through activities at Family Hub and Junction, and empowering them to access wider range of intervention and crisis prevention services, - Exceeded outcome targets for the European Social Fund, Employed for Success programme helping over 100 people with health conditions and other barriers into employment and training. - Rebranding of the Solihull Community Network to the Active Communities Solihull and East Birmingham to increase knowledge of health and wellbeing opportunities for people in Birmingham who access support outside of the area. - Commissioned to facilitate the Solihull Food Bank Network, reviewing existing emergency food provision within the Borough and advising SMBC on new ways to distribute food more effectively to those in need. - Improving the physical environment by developing the Junction Garden with support from partners, whilst establishing a food growing initiative and offering volunteering opportunities. - Delivery of health and wellbeing activities for all age groups, introducing physical literacy from an early exercise and litter picking - The centre continues to be well utilised and delivers a range of activities for local people to access across the whole week. These include a large proportion of external bookings, including dance, fitness and a childminder network who meet to share best practice. - The centre is also home to Around Again Charity, a food pantry project to support people tackle food poverty and improve health and wellbeing, as well as providing a range of volunteering opportunities. - We continue to offer a drop-in job club with access to laptops to support digital inclusion and job searching. - We have a good number of volunteers supporting the running of the centre, Around Again and community garden, including groups from the NHS and Princes Trust. - bereavement, long term illness, physical activity, housing, energy advice, financial literacy and more. - Our wellbeing drop-ins are hugely popular and benefitted many socially isolated residents. - Our impactful loss and bereavement workshops have been replicated elsewhere, locally. - Through our interaction with residents within the centre we have been able to make important safeguarding referrals as well as help people to connect to connect to specialist organisations for interventions. - group - Another successful year of achieving our target on the Skills for Job project of working closely with 50 people within areas of deprivation and securing employment and training outcomes. - Hundreds of people accessing our digital inclusion support. - We successfully concluded our HS2 funded project with over 200 people engaged and over 100 hundred people with health needs supported into employment. - Over 200 people with additional needs supported through programmes, including the ESF part-funded support, Employed for Success. - 33 young people supported - . - Once again we helped hundreds of people with barriers that include attainment, poverty, health, care, addiction and housing through direct interventions and with the support of referral partners. The Colebridge Trust Ltd Report of the Trustees for the Year Ended 31 March 2023 FINANCIAL REVIEW Financial overview The consolidated results for the year and the financial position of the group and the charity are shown in the financial statements annexed lo this report. In the financial year to 31 Ma￿h 2023 the charity made a surplus of £66,430. increasing reserves to £533,079. Consolidating the results of the trading subsidiary, the group made a surplus of £22,474. This will enable the group to sustain current projects once current funding streams end and further funding is sought. Charity income decreased by £61,835 compared with the previous year. This is a result of the ending of projects such as the Kicks18rt and the Wèsl Midlands Combined Authority programmes. New funding appliealions to ￿place this income havè been successful and the Trustees consider this lo be a very positive outlurn. Income includes 8 gr8nt of £90,797 from the subsidiary company Colebridge Enterprises. Sources of charity income included a total of £561,958 from grants, of which £169,679 was restricted income from the Big Local Trust, the Big Lottery and other local Irusls. Reserves pollcy The charity's consolidated free reserves at 31 March 2023 are £507,415. The unreslricled funds, except those invested in tsngible 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 lolal reserves at 31st March 2023. The board aspires lo 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 concorn The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The Iruslees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial slalements. The budgeted income and expenditure is sufficient with the level of resetves for the charity to be able to continue as a going Gon￿m. Page 7 - Increase the community offer, including Family Hub and Junction. - Secure contracts and funding for our Employment and Skills Team so that we can continue to be the leading community-based provider of employability support in Solihull. - Continue developing our employment readiness programme for learning disabled and other long-term disadvantaged job seekers at the Colebridge Enterprises manufacturing assembly and packaging unit. This includes the further development of our care support services and social inclusion activities. - Establish further formal collaborations to tackle the effects of deprivation. - Continue to develop plans for the redevelopment of Junction and develop a strategy for community-led housing. - To continue to support the resident led Big Local Cars Area Together committee to secure the long-term legacy opportunities from the Big Local programme for the area within the latest stage of developing their project. - Continue to strengthen the leadership team and develop the workforce. - Significantly grow our health and wellbeing work and continue working closely with health partners. - The board has been strengthened and we will continue to bring in new trustees who can enhance our knowledge. We will also strengthen through the use of specialist advisors. - The trust will continue to seek new customers and generate income to meet the adult social care need via the activities at the assembly and packing social enterprise. - Employment project funding continues to be reviewed and changes to funding pose an on-going risk to the trust. Business development will be a priority within this area and we have established key relationships in place. We continue to ensure that performance standards are met. - The lease for the land occupied by the premises at Junction expired at 31 March 2018 and the local authority has confirmed that we have protected rights. The local MP, council leader and senior officers have visited the site and we have received positive feedback. We are now in discussions with Solihull Metropolitan Borough to consider alternative sites and bring forward an ambition on behalf of the local community. It should be noted that our ability to support local people as an anchor organisation has been largely facilitated through the community asset in Fordbridge (bordering Chelmsley Wood). We are working with West Midlands Community Urban Housing to help develop a scheme. - Management of the trust has been with Chet Parmar for the last 4 years and we continue to build a capable management team to support the CEO and trustees / directors. The structure will be periodically reviewed to ensure that it is fit for purpose. - The trust are actively looking for areas to invest in that will bring about long-term positive impacts and change. This may include the need to consider social finance and additional resources to support bid writing and grant applications. Our social enterprise growth ambitions require investment. - The trust continues to be a member of Locality and regularly seeks the advice and guidance of specialist organisations. As an example the use of Roots HR C.I.C a specialist human resources advice provider. - Staff and volunteer risks continue to be mitigated against through policies and procedures. We will continue to review these regularly and update in tandem with identified best practice. - Recruitment and retention is difficult for the whole of the sector and we regularly benchmark salaries and consider ways in which we can both attract staff and retain them. - Safeguarding is a key risk which will continue to be managed with stringent policies, effective recruitment and ensuring that all staff are aware of their responsibilities. - Competition from charities and other organisations is increasing as funding becomes a challenge within the sector. We continue to mitigate through effective relationship building with stakeholders, delivering quality work and maintaining a presence around our area of benefit. We also have a specific remit with our Community Development Trust approach and recognition of this status from Locality. This is in addition to the recognition from the local authority as a Community Anchor Organisation. 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 Ch8pelhouse R08d Chelmsley Wood B37 SHA Trustees and Directors D Wilson Chair linteriml D A Dunkley - Vice Chair WJ Albutt P J Hammonds C Rapson A S Poller L Harrison J Timbrell P N Mayhew Company Secretary C Parmar Auditors Locke Williams Associates LLP Chartered Accounlanls 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 Page10 The Colebridge Trust Ltd Report of the Trustees for the Year Ended 31 March 2023 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iruslees (who are also the directors of The Colebridge Trust Ltd for the purposes of company lawl 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 lo prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the ch8ritable company and of the incoming resources and application of resources, including the income and expènditure, of the ch8ri18ble company for that period. In preparing those financial st8temenls, the Iruslees are required to select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charity SORP, make judgements and eslimalès that are reasonable and prudent", prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Iruslees are responsible for keeping proper accounts'ng 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.. there is no relevant audit information of which the charitable company's auditors are unaware., and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and lo establish that the auditors are aware of that information. AUDITORS The auditors, Locke Williams Associates LLP, will be proposed for re-appointment al the forthcoming Annual General Meeting. Approved by order of the board of trustees on 1911212023 and signed on its behalf by.. Deb Wlson- Trustee- Chair Page11 LOCKEWILLIAMS • ASSOCIATES LLP 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 Ilhe parent 'charilable company'l and ils subsidiary Ilhe 'group'l for the year ended 31 March 2023 which comprise the consolidated Statement of Financial Aclivilies, the consolidated and parent company Balance Sheet, the consolidated Cash Flow statement and notes to the financial slalements, 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 Praclicel. In our opinion the financial statements.. give a true and fair view of the slate of the group's and of the parent charitable company's affairs as at 31 March 2023 and of the group's Incoming resources and application of resources, including its Income and expenditure, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII 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 a￿ relevant lo 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 lo provide a basis for our opinion. Conclusions relating to going Concern In auditing the financial slalemenls, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financi81 statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast signifi'cant 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 lo 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 Ihereon. Our opinion on the financial stslements does not Cover the other Infomialion and, except lo the extent otherwise explicitly stated in our report, we do not express any form of assuran￿ conclusion thereon. In connection with our audit of the financial slatemenls, 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 lo 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 misstalemenl of this other information, we are required lo report that fact We have nothing lo report in this regard. Page 12 LOCKEWILLIAMS • ASSOCIATES LLP 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.. the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consislenl with the financial slalemenls,. and the Report of the Trustees has been prepared in accordan￿ with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and Ils environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing lo report in respect of the following matters where the Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us," or the financial statements are not in agreement with the accounting records and returns., or ertain disclosures of Iruslees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit", or the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 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 lawl are responsible for the preparation of the financial slalements and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary lo 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 lo continue as a going concern, disclosing, as applicable, mallers related to going COn￿M and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or lo 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 ststemenls as a whole are free from material misslatemenl, whether due lo fraud or error, and lo 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 IUKI will always detect a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slatemenls. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures In line with our responsibilities, outlined above, to delect material misstalemenls in respect of Irregularities, including fraud. The extent lo which our proTrdures 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 il operates, and considered the risk of acts by the company that were contrary lo applicable laws and regLJlalions, including fraud. We designed audit procedures to respond to these risks, recognising that the risk of not detecting a material misstatement due lo fraud is higher than the risk of not delecling one resulting from error, as fraud may invO￿e deliberate concealment by, for example, forgery or intentional misrepresentations, or throLJgh collusion. Page 13 LOCKEWILLIAMS • ASSOCIATES LLP Report of the Independent Auditors to the Members of The Colebridge Trust Ltd We focussed on laws and regulations which could gwe rise lo a material misslalemenl in the financial slalemenls, including, but not limited lo, 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 ftjrther removed non- compliance with laws and regulations is from the events and transactions reflected in the financial stslements, 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 intemal controls, including testing joumals and checking the aulhorisation of expenditure as part of our substantive lesling, 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 misstalemenl due to fraLJd. A further description of our responsibilities for the audit of the financial stslements is located on the Financial Reporting Council's website al www.frc.org.uklaudilorsresponsibilities. 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 slate to the charitable company's members those matters we are required lo slate to them in an auditors, report and for no other purpose. To the fullest extent permilled 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 Slatulory Audilorl for and on behalf of Locke Wlliams Associates LLP Chartered Accounlanls Registered Auditors do Blackthorn House st Pauls Square Birmingham West Midlands B3 1RL Dale.. 2011212023 TRUSTED ACCOUNTING SOLUTIONS ICAEW CHARTERED ACCOUNTANTS 4IdAIVMl&￿F{ACrA TE n￿￿837p￿T..0121 ￿? M) Page 14 info@lo¢k•williams.¢om www.lo¢k¢willioms.¢om The Colebridge Trust Ltd statement of Financial Activities for the Year Ended 31 March 2023 31.3.23 Total funds 31.3.22 Totsl fvnds Unrestricted funds Reslricled funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1.138 1.138 773 Charitable activities Charitable activities 392.279 169.679 561,958 783,675 Other trading activities 372.053 372,053 345,947 Total 765.470 169.679 935.149 1,130,395 EXPENDITURE ON Raising funds 27,029 27,029 25,687 Charitable activities Charitable activities 731.286 154.360 885.646 978,045 Total 758 315 912 675 1,003,732 NET INCOME 7,155 15,319 22,474 126,663 RECONCILIATION OF FUNDS Total funds brought forward 500,260 81,146 581,406 454,743 TOTAL FUNDS CARRIED FORWARD 507.415 96.465 603,880 581,406 The notes form part of these financial statements Page 15 The Colebridge Trust Ltd (Registered number: 044752911 Balance Sheet 31 March 2023 Group 31.3.23 Charlty 31.3.23 31.3.22 31.3.22 Notes FIXED ASSETS Tangible assets 11 6.934 9,245 CURRENT ASSETS Debtors Cash al bank and in hand 13 157,349 615,517 185,108 505,779 421.426 245.790 355,852 224,462 772.866 690,887 667.216 580,314 CREDITORS Amounts falling due within one year 14 1175.9201 {118,7261 1134,1371 1113,6651 NET CURRENT ASSETS 596.946 572,161 533.079 466,649 TOTAL ASSETS LESS CURRENT LIABILITIES 603,880 581,406 533,079 466,649 NET ASSETS 603 880 581,406 533 079 466 649 FUNDS Unrestricted funds Restricted funds 16 507,415 500,260 81,146 436,614 385,503 81,146 603,880 581.406 533,079 466,649 These financial statements hsve been prepared in accordance with the provisions applicable lo charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and aulhorised for issue on 1911212023 snd were signed on its behaw by.. Deb Wilson - Trustee - Chair The notes form part of these financial statements Page 16 The Colebridge Trust Ltd Cash Flow Statement for the Year Ended 31 March 2023 31.3.23 31.3.22 Notes Cash flows from operating activities Cash generated from operations 109.738 66,425 Net cash provided by operating activities 109 738 66,425 Cash flows from investing activities Purchase of tangible fixed assets Net cash provided byllused inl investing activities 9,2451 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 109.738 57,180 505.779 448,599 Cash and cash equivalents at the end of the reporting period 615 $17 505,779 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 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.23 31.3.22 Net income for the reporting period {as per the Statement of Financial Activities) Adjustments for: Depreciation charges Decreasellincreasel in debtors Increaselldecreasel in creditors 22.474 126,663 2,311 29,309 55,644 148,0321 12,2061 Net cash provided by operations 109.738 66,425 ANALYSIS OF CHANGES IN NET FUNDS Al 1.4.22 Cash flow At 31.3.23 Net cash Cash al bank and in hand 505,779 109,738 615,517 505.779 109,738 615,517 Total 505.779 109 738 615517 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 2023 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 IFRS 1021 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191,, 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 ex￿ptIOn of investments which are included al 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 entillement lo the funds, il is probable that the income will be received and the amount can be measured reliably. For donations lo be recognised the charity will have been notified of the amounts and the setllemenl dale 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 fulfilmenl 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 lo lenanls. 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, whelher'capitsl, grants or 'revenue' grants, is recognised at fair value when the charity has entitlement after any performan￿ conditions have been met, il is probable that the income will be received and the amount can be measured reliably. If entillemenl is not mel 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 nolificalion of the interest paid or payable by the Bank. Expenditure Liabilities are recognised as expenditure as soon as there is a legal orconstruclive obligation commilling the charity to that expenditure, il 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 allribuled to particular headings they have been allocated lo activities on a basis consistent with the use of resources. Expenditure is classified under the following activity headings". Costs of raising funds comprise the costs of commercial trading including those of the wholly owned trading subsidiary. Expenditure on charitable activities includes the direct costs of activities undertaken to further the purposes of the charity, including grants payable and all associated SLJPPOrt costs. Irrecoverable VAT is charged as an expense against charitable activities. Page19 The Colebridge Trust Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ACCOUNTING POLICIES - contlnued Expenditure Grants payable lo third parties are within the charitable objectives. Vvhere unconditional grants are offered, this is accrued as soon as the recipient is nolilied of the grant, as this gives rise lo a reasonable expectation that the recipient will re￿1ve the grants. Where grants are conditional relating lo 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 bul do not directly represent charitable activities and Include Offi￿ costs, governance costs, administrative payroll costs. They are Incurred directly in support of expendrture on the objects of the charity. Where support costs cannot be directly attributed lo particular headings they have been allocated to cost of raising funds and expenditure on charitsble 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 apilalised 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 al 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 tonsfer of funds to a third party and the amount due to settle the obligation can be measU￿d or estimated reliably. Creditors and provisions ao nom)ally recognised al their selllemenl 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 lo pass the lesls sel out in Paragraph 1 Schedule 6 Finan￿ Act 2010 and therefore il meets the definition of a charity for UK corporation lax purposes. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives al the discretion of the Iruslees. Reslricled funds Can only be used for particular restricted purposes within the objects of the charity. Reslriclions 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 lo the financial statements. Pension costs and other po$t-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 lo which they relate. Page 20 The Colebridge Trust Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2023 DONATIONS AND LEGACIES- GROUP 31.3.23 31.3.22 Donations 1.138 773 The wholly owned trading subsidiary Colebridge Enterprises Ltd is incorporated In the United Kingdom {company number 085060311 and pays all of ils profits to the charity under the Gift Aid scheme. A summary of the trading results is shown below. 31.3.23 31.3.22 Turnover Cost of sales and administration costs Other income 357,949 1402,2711 165 335,856 1245,0581 NET ILOSSIIPROFIT 43,957) 90,798 Amount gift aided to the charity 90,797 23,958 Retained in the subsidiary 114,756 The assets and liabilities of the subsidiary were.. Fixed assets Current assets Current liabilities 6,934 445,192 9,245 345,067 Total nel assets 114756 Aggregate share capital and reserves 114,756 The company pays over its taxable profits lo 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 Irealed as a distribution of profits and so will be accounted for when paid, not accrued. OTHER TRADING ACTIVITIES- GROUP 31.3.23 31.3.22 Sales Room hire 361,948 10,105 336,010 9,937 372,053 345,947 Page 21 The Colebridge Trust Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2023 INCOME FROM CHARITABLE ACTIVITIES - GROUP 31.3.23 31.3.22 Activity Charitable activities Grants 561.958 783,675 Grants received, included in the above, are as follows.. 31.3.23 31.3.22 Solihull Metropolitan Borough Council Kickslart Solihull College Wesl Midlands Combined Authority HS2 Grant The Co operative Society Heart of England Community Fund - Big Local Community Fund-'Sleps to the Real Me, Big Local employment support grant SMBC Household Support Fund SMBC Debt and Money Advice SMBC Vulnerable Renter Fund SMBC Commonwealth Games SMBC Cars Area Together Holidays Activity Fund The Active Wellbeing Society Heart of England Making Good Grow Think Active CSW Tackling Inequalities Think Active CSW Womèn's Walking Project Think Active CSW School Holiday Provision National Grid BVSC CYP Field Lab The Michael Marsh Charitable Trust 29th May 1961 Charitable Trust The Eveson Charitable Trust SMBC Wellbeing on the move Birmingham Airport Community Fund 150,178 48,704 72,000 40,014 29,445 3,000 4,946 145,950 97,486 247,329 72,000 109,274 25,762 11,045 10,000 83,840 92,090 9,782 3,150 5,000 5,300 12,107 14,883 6,010 8,075 1.272 2.000 3,000 1,770 1,000 704 3.000 3.600 5,487 2,000 5,000 5,000 995 3,455 561958 783,675 Page 22 The Colebridge Trust Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2023 RAISING FUNDS- GROUP other trading activities 31.3.23 31.3.22 Trading cost of goods sold and overheads Depreciation 24.718 2.311 25,687 25,687 CHARITABLE AcTIV￿lEs COSTS- GROUP Direct Costs Charitable activities 885,646 NET INCOMEIIEXPENDITUREI- GROUP Net incomellexpendilurel is slated after chargingllcreditingl.. 31.3.23 31.3.22 Depreciation - owned assets Auditors, remuneration Auditors, remuneration - subsidiary 2,311 2,800 2,700 TRUSTEES. REMUNERATION AND BENEFITS - GROUP AND CHARITY There were no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. Trustees. expenses There were no Iruslees, expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. STAFF COSTS- GROUP AND CHARITY 31.3.23 31.3.22 Wages and salaries Social security costs other pension costs 605,006 31,569 13,290 532,901 29,481 11,123 573,505 The average monthly number of employees during the year was as follows.. 31.3.23 14 25 31.3.22 14 23 Full lime Part time 39 37 No employees received emoluments in excess of £60,000. Page 23 The Colebridge Trust Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2023 STAFF COSTS- GROUP AND CHARITY- contlnued The total amount of employee benefits received by key management personnel is £115,034 12022 £105,388. The Trust considers ils 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 Unreslricled Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 773 773 Charitable adivities Charitable activities 601,099 182,576 783,675 Other trading artivilies 345,947 345,947 Total 947,819 182,576 1,130,395 EXPENDITURE ON Raising funds 25,687 25,687 Charitable activities Charitable activities 754,777 223,268 978,045 Total 780,464 223,268 1,003,732 NET INCOMEIIEXPENDITUREI Transfers between funds 167,355 432 140,6921 126,663 Net movement in funds 167,787 141,1241 126,663 RECONCILIATION OF FUNDS Total funds brought forward 332,473 122,270 454,743 TOTAL FUNDS CARRIED FORWARD 500,260 81,146 581,406 Page 24 The Colebridge Trust Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2023 11. TANGIBLE FIXED ASSETS- GROUP AND CHARITY Improvements Fixtures and fillings Plant and machinery Computer equipment propety Totals COST Al 1 April 2022 and 31 March 2023 77,766 9,245 14,889 2.000 103.900 DEPRECIATION Al 1 April 2022 Charge for year 77,766 14,889 2.000 94.655 2,311 At 31 March 2023 NET BOOK VALUE At 31 March 2023 6,934 6,934 At 31 March 2022 9,245 9,245 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. 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group Charity 31.3.23 31.3.23 31.3.22 31.3.22 Trade debtors other debtors Amounts owed by subsidiary undertaking Social security and other taxes Prepayments and accrued income 60.744 1.550 110,050 20.484 77,804 340.191 234,496 33.745 61.310 29,250 45,808 60,751 43,552 157.349 185,108 421426 355,852 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group Charity 31.3.23 31.3.22 31.3.23 31.3.22 Trade creditors Social security and other taxes Other creditors Accruals and deferred income 13,953 60.030 11.519 90.418 12,224 39,180 11,287 56,035 13,810 60,030 11,519 48,778 9,262 39,180 11,287 53,936 175.920 118,726 134,137 113,665 Page 25 The Colebridge Trust Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2023 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - contlnued Income is deferred where il is subject lo the performan￿ of certain terms or conditions. Vwhere these have not been mel al the balance sheet dale, the income is not recognised in the statement of financial activities. 31.3.22 31.3.22 Deferred income brought forward Income now released to SOFA Income received In the year and deferred Deferred income carried forward 25.552 {25,552} 21.242 21,242 20,833 {20,8331 26,652 25,552 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.23 Total funds 31.3.22 Total funds Unrestricted Restricted funds funds Fixed assets Current assets Current liabilities 6,934 674,851 174 370} 6,934 771,316 174 370) 9,245 690,887 118,7261 96,465 507,415 96,465 603,880 581,406 16. MOVEMENT IN FUNDS- GROUP Net movement in funds At 31.3.23 At 1.4.22 Unrestrlcted funds General fund 500,260 7,155 507,415 Restricted funds Street Games Project Big Local 6 Big Lottery STTRM Big Local General Purpose Big Local Wnter trails walks Big Local SMBC essential grant Big Local Wellbeing grant Big Local Birmingham Airport Community Fund Big Local Think Active Big Local HAF fvnding Big Local JLR Fund Big Local Heart of England Making Good Grow Big Local Think Acb"ve holiday school provision 116 37,646 32,915 7,135 490 2,209 177 1116) 42,280 132,915) 38 15) 2,656 1177) 79,926 7,173 485 4,865 128 705 {375} 1128) 1705) 791 600 416 600 2,000 2.000 1,000 1.000 81.146 15.319 96.465 TOTAL FUNDS 581406 603 880 Page 26 The Colebridge Trust Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2023 16. MOVEMENT IN FUNDS- GROUP- contlnued Nel movement in funds, included in the above are as follows.. Incoming reSoUr￿S Resources expended Movement in funds Unrestricted funds General fund 765,470 1758,315} 7.155 Restricted funds Street Games Project Big Local 6 Big Lottery SFtRM Big Local General Purpose Big Local Imnter trails walks Big Local SMBC essential grant Big Local Wellbeing grant Big Local Birmingham Airport Community Fund Big Local Think Acb've Big Local HAF funding Big Local Celebrating Communities Big Local JLR Fund Big Local Heart of England Making Good Gmw Big Local Think Active holiday school provision 1116) 1103,670} 132.915) 145,950 42,280 {32.9151 38 38 5,300 {2,644) 1177) 2,656 11771 1128) (2,475) (7,284) {4,946) 11281 17051 791 1,770 8,075 4,946 600 600 2,000 2,000 169 679 TOTAL FUNDS 935,149 912,675} 22,474 Page 27 The Colebridge Trust Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2023 16. MOVEMENT IN FUNDS- GROUP- contlnued Comparatives for movement in funds Nel movement in funds Transfers he￿een funds Al 31.3.22 At 1.4.21 Unrestricted funds General fund 332,473 167,355 432 500,260 Restrictod funds Street Games Project Big Local 6 Big Lottery STTRM Big Local General Purpose Big Local Imnter trails walks Big Local SMBC essential grant Big Local Wellbeing grant Reach Assembly Business Planning Reach HR Consultancy Reach - Internal management costs Reach - Company structurellegal costs Active Wellbeing (slay & playl Big Local Birmingham Airport Community Fund Big Local Think Acb've Big Local HAF funding 1,976 47,493 49,604 7,068 904 348 4,749 4,320 1,568 928 2,880 432 11,8601 19,8471 {16,6891 67 14141 1,861 14,5721 14,3201 11,5681 19281 12,8801 116 37,646 32,915 7,135 490 2,209 177 14321 128 705 128 705 122 270 432 TOTAL FUNDS 454,743 126,663 581,406 Page 28 The Colebridge Trust Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2023 16. MOVEMENT IN FUNDS- GROUP- contlnued Comparative net movement in funds, included in the above are as follows.. Incoming reSoUr￿S Resources expended Movement in funds Unrestricted funds General fund 947,819 1780,4641 167,355 Restricted funds Street Games Project Big Local 6 Big Lottery SFtRM Big Local General Purpose Big Local Imnter trails walks Big Local SMBC essential grant Big Local Wellbeing grant Reach Assembly Business Planning Reach HR Consultancy Reach - Internal management costs Reach - Company structurellegal costs Big Local Birmingham Airport Community Fund Big Local Think Active Big Local HAF funding {1.8601 193,6861 1108,7791 {1,8601 19,8471 116,6891 67 14141 1,861 14.5721 14.3201 11,5681 19281 12,8801 83,839 92,090 67 14141 {1.3491 {4.5721 {4.3201 11,5681 19281 (2,8801 3,210 2,06S 1,305 (1,9371 16001 375) 128 705 3751 182 576 223 268 TOTAL FUNDS 1,130,395 1,003,732) 126,663 17. RELATED PARTY DISCLOSURES- CHARITY Colebridge Enterprises Ltd Subsidiary company Colebridge Enterprises Ltd is charged during the year for direct costs and management charges lotalling £284,24512022 203,4811 in respect of staff costs and overheads. Al profits in the company are gift aided to the charity. The donation received in the year was £90,797. 31.3.23 31.3.22 Amount due from related party at the balance sheet date 340,191 234,496 Page 29