Cornpany registration number.. 08194357 Charity registration number: 1155879 Gwinear-Gwithian Sustainable Community Fund IA company limited by guarantee) Annual Report and Finanual Stslemenls for ihe Year Ended 31 March 2024
Gwinear-Gwithian Sustainable Community Fund Contents TTuslees Report 1 105 Slalemenl of Trustees, Responsibilitlgs Independent Examinels Report Slalemenl of Flnan¢lal Activit19S Balance Sheet Notes lo the Financial Statements 101014
Gwinear-Gwithian Sustainable Community Fund Trustees Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial slalemenls of the charitable company for the year ended 31 March 2024. Oblè¢tives and activities Objects and alms The objects of the charity are.. The promotion of any charitable purposes primarily for the benefit of the community in the Parish of Gwinear-Gwithian and in the event of the Charity having funds surplus to the needs of this area for the benefit of the communities in the Parishss of Camborn9, Crowan, St Erth and Hayle, and in particular to promote Sustainable Development for the benefit of the said communities by.. The preservation. conseryalion and protection of the environment and the prudent use of resources., The relief of povety and the improvement of the Conditions of life in socially and economically disadvantaged communities.. - The promotion of sustainable m8ans of achieving economic growth and regeneration. To advance the education of the public in subjects relating to sustainable development and the protection, enhanceinenl and habIlitatIon of the environment and lo promote study and research in such subjects provided that the useful results of such study are disseminated lo the public at large. Sustainable Development means a 'developmenl wh1ch meets the needs Df the present without compromising the ability of future generation to meet their own need5.. In planning our activities for the year we kept in mind the Charity Commission's guidance on public benefit. Page 1
Gwinear-Gwithian Sustainable Community Fund Trustees Report Gwinear-Gwithian Sustainable Community Fund Achievements and perfomian¢e For the year ending 31st March 2024 the charity had two periods of applications for funding. In the funding round ending 31st May 2023 Directors approved two applications.. the first for Connor Downs Residents Association for a Project Manager lor the Elizabeth Sampson Plawng Field and the second for an Early Years Provision for the Friends of Connor Downs Acaderny. Dire¢lors also continued lo provide a healthy breaklime option lo Busy Bodies Pre-school, Connor Downs Academy and Gwinear Primary for the academic year, this initiative being a response to the cost of living crisis. In the funding round ending 30th November 2023 Directors approved bNo applications.. the first being for Playground Equipment for Friends of Kehelland School and the second towards the oper¥lion costs of the and Towans Ranger rolg for Friends of the Towans. Income of £10,995 was received from Hope Solar Farm and £37,605 was received froTn Churchtown Sdar Park. Interest earned on the Business Saving5 account amounted to £1.038. Cathy Woolcock and Rosemarie Norm8n were reolecled as co-opted Directors. Jane Richards and John Weedon wgre elected as a co-opted Directors. The deadline for the n&xl round of applications for grants 15 31 st May 2024 and has been advertised throughout the parish and on social media. Advanced notifications of the AGM were sent to the Parish Council., GVA, CDFIA, Gwilhian RA and Towans Partnership and published on the website and on social media. Page 2
Gwinear-Gwithian Sustainable Community Fund Trustees Report Gwinear-Gwithian Sustainable Community Fund Financial review The financial results of the charily are sel out in the SOFA on page 8. Policy on reserves The charity's reserves of £41,881 are held to fund future grant applications. The reserves pollcy is lo ensure that at no point will the balance in the bank fall below the committed funds plus running costs. Plans for future perlods Alms and key obJa¢tlve$ for fvture perlods The GGSCF charity has incom8 from the ts0 solai farms, Churchlown Farm Solar Park Ltd and Hope Solar Park Ltd for the next 12 and 14 years respectively. The plan is lo continue with the original aims the fund is for the benefit of the Community. Who can appl Any nol-for-profil organisalion lexcepl those with sole political or religious purposes) based in and for the benefit of people in eligible geographical aroas including.. Registered Charities . Voluntary Groups . Community Groups Clubs Friends Associations Preferen will be given lo first ts'me applicants and projects Ihal.. Involve young people. Promote social indusion. Demonstrate innovation or best practice. Lever in ¢onlributions from other sources. Add value or new dimensions lo existing sustainability projects. Have little access to alternative public funding., andlor Bring organisations or communities together lo tackle problems or promote new ideas. P8ge 3
Gwinear-Gwithian Sustainable Community Fund Trustees Report Structura, governan¢e and managemènt Nature ofgoverning document The charity is govemed by ils memorandum and artides of association. and is a company limited by guarantee. There are seven appointed directors who are selected from people living or working in the Parish who exp$$ an interest by responding lo the call for volunteer directors. The focus for selection is on whal experience people can offer. We look for demonstration of one or more ol the following from each. - Local Knowledge Conservation-Nalure Sustainable EnergylEnergy Consetvalion Youlh-Education Business and Marketing Charity and Community Organisalion Recruitment and appointment of trustees Dir&¢lors and members of the Advisory Panel were advertised for through Ihg websilB, local newsletter5 and on the Parish Council website and notice boards. Di¢10rS may be appointed al any general meeting provided that the correct noli¢e is executed by a director entitled to Vote al the meeting. A director may also be appointed by a board resolution bul the director so appointed musl retire al the next annual general meeting and musl not be taken into account in determining the directors who are lo retire by rotation. Induction and training of trustees On appointment directors recaive the funding agreements and note of assignment. The directors ar8 expe¢led lo be thoroughly familiar with the Articles of Association and the obligatlons of trustees and directors, as set out in the guidan on the Charity Commission and Companies House website. Directors are required lo confirm that they are up lo dale wilh these obligations once a year. Page 4
Gwinear-Gwithian Sustainable Community Fund Trustees Report Reference and Administrative Details Trustees Mrs C Woolcock Mrs J Tovey Mrs R Norman Ms D Hall Mr D Simmons Mrs J S Richards (appointed 28161231 Mr M J Weedon lappointed 712124} Principal and Registered Office clo Flat 3 Moonrakers Parc Owles Carbis Bay TR26 2RE Company Registration Number 08194357 Charlty Reglstrallon Number 11 $5879 Solicitors.. Borlase & Co 45 Coinagehall Street Helston Cornwall TR13 8EU Accountants Francis Clark LLP Lowin House Tregolls Road Truro Comwall TR12NA The annual report was approved by the trustees of the charity on 2 6 / 6 / 2 4 behalf by. and signed on its Mrs C Woolcock Trustee Page S
Gwinear-Gwithian Sustainable Community Fund Statement of Trustees, Responsibilities The Iruslees (who are also the directors of Gwinear-Gwilhian Sustsinable Community Fund for the purposes of MpanY lawl are responsible for preparing the Iru51ees' report and the financial slalements in accordance with applicable Saw and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Praclicel, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" The report and accounts have been prapared in accordan with the provisions in the Companies Act 2006 relating lo small companies. Company law requires the trustees lo prepare financial slalements for each financial year. Under company law the Iruslees musl not approve the finan¢ial statements Ljnless Ihgy are satisfiod Ihal they give a trLJe and fair view of the stale of affairs of the charitable cornpany and of the incoming resources and application of resources, inc5uding its income and expenditure. of the charitable company for that period. In preparing these financial slatemenls, the Iruslees are reqUId to.. select suitable accounting policies and apply them consistentty.. observe the methods and principles in the Charities SORP.. make judgements and eslitnal8s Ihat are reasonable and prudent.. slate whether applicable a¢counting standards, comprising FRS 102 have been followed, subject lo any material departures disdosed and exp18ined in the financial slalemenls.. and prepare the financial statements on tho going concern basis unless it is inappropriate lo presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accura¢y al any tirvie the financial position of Ihe charitable cornpany and enable them lo ensure that tho financial statements comply with the Cornpanies Act 2006. They are also responsible for safeguarding the assets ol th& charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Injslees are responsible for the mainl$nance and integrity of the corporate and finanaal information incJud&d on the charitable company's website. Legislation governing the preparation and dissemination Df financial statements may differ from legislation in other jurisdictions. Approved by the trustees of Ihg charity on 2 6 / 6 / 2 4 and signed on ils behalf by-. Mrs C Woolcock Trusteg Page 6
Gwinear-Gwithian Sustainable Community Fund Independent Examiner's Report to the trustees of Gwinear-Gwithian Sustainable Community Fund ('the Company,) I report lo the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. RgsponslbllltS0$ and basls of report As the charity's Iruslees of the Company {and also ils directors for the purposes of company law} you are responsible for the preparation of the accounts in accordance with the requirgmenls of the Companiès Act 20061'lhe 2006 Acl'l. Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 {'Ihe 2011 Acl'l. In carrying out my examinalion I have followed ihe Directions given by the Charity Commission under section 145{5llbl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have ¢ome lo rny attention in connection with the examination giving me Cause lo believe.. 1. accounting records were not kept in iespecl of Gwnear-Gwilhian Sustainable Community Fund as required by section 386 of the 2006 Act., or 2. the accounts do not accord with those rg¢ords,' or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an indep8ndenl gxaminalion,. or 4. the 8¢¢ounls have not been prepared in accordance with the methods and principles of the Slalement of Recommended Pra¢ti¢e for a¢Gounting and reporting by charities lapplicable lo charities pparing Ihelr accounts in accordance wfch the Finan¢ial Repc>rting Standard applicable in the UK and Republic of Ireland IFRS 70211. I have no concerns and have come across no other matters in connection with the examination lo whi¢h allention should be drawn in this report in order lo enable a proper understsnding of the accounts lo b& reached. Darren Perry BAjHonsj ACA DChA Francis Clark LLP Lowin House Tregolls Road TrLJro Cornwall TR1 2NA Date.. 10 July 2024 Page 7
Gwinear-Gwithian Sustainable Community Fund Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrostricted Funds Total 2023 Unrestricted funds Total 2024 Note Income and Endowments from: Donations and logacies Investment income 47,338 1,213 47,338 1,213 42,635 184 Total Income 48,551 48,551 42,819 Expenditure on: Charitable a¢tivities 161,263 161,263 144,1041 Total Expenditure 61,263 61,263 44,104 Net movemenl in funds 112,7121 112,7121 11,2851 Rèconclliation of funds Toial fLJnds broughl forward 54,573 S4,573 55,858 Total funds carried forward 41,861 41,861 54,573 AJI of the charity's aclivilles derive from continuing operations during the above two pariods. The notes on pages 10 to 14 form an integral part of Ihese Ilnan¢ial statements. Page 8
Gwinear-Gwithian Sustainable Community Fund (Registration number: 08194357) Balance Sheet as at 31 March 2024 2024 2023 Note Currant a$s¢ts Debtors Cash al bank and in hand 78 71,797 121 112,548 71,875 112,669 Creditors.. Amounts falllng due wlthln one year Net assets 30,014 158.096 41,881 54,573 Funds of the charity.. Unrestricted incom8 funds Unreslricled 41,861 54,573 Total fund$ 41,861 54,573 For the financial year ending 31 March 2024 the charity was enlilled to exemption from audit under section 477 of the Companies Act 2006 relating lo small companies. Directors. responsibilities.. The members have not required the charity lo obtain an audit of ils accounts for the year in question in accordan¢tr with section 476., and The directors acknowledge their responsibilities for complwng with the requirements of the Act rith respect lo accounting records and th8 preparation of accounts. These financial slalements have been prepared in accordan with the special provisions relating lo companies subject lo the small companies regime within Part 15 of the Companies Act 2006. The 26 cial statements on pages 8 10 14 were approved by the Iruslees. and aulhorised for issue on and signed on their behalf by.. Mrs C Woolcock Trustee Th9 notes on pages 10 to 14 fomi an integral part of these finanual statements. Page 9
Gwinear-Gwithian Sustainable Community Fund Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charity stalus The charity is limited by guarantee, incorp(>rated in England and consequently does nol have share capital. Each ol the IrLJslees is liable to contribute an amount not eXeding £10 towards the 8ssets of the charity in the event of liquidation. 2 Accountlng pollcles ststement of cornpllance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in acGordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charities Act 2011. Basis of preparation Gwin&ar-Gwithian Sustainable Community Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy notes. Going Concern Thg financial statements have been prepared on a golng concem basis. The trustees assess whether the use of going conrn is appropriate i.e. whether there are any material uncertainties related lo events or ¢ondilions that may cast significant doubl on the ability of the ¢harily lo continue as a going concern. The trustees make this assessment in respect of a period of one year from the datè of approval of the financial stalemenls. In¢ome and endowmants Solar farrn contributions are recognised when the Charity ha5 enlidemeril lo the income, il is probable that the income will be received and Ihe amount can be measured with sufficient reliability. Donations and Iggacies Donations are recognised when the charity has been notbfied in writing of both the amount and selllemenl dale. In the event that a donation is subject to conditions that require a level of performance by the charity before the ¢harity is enlilled lo the funds, the income Is deferred and not recognised until either those conditions are fully mel, or the fulfilmenl of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Expendltur& All expenditure is recognised once ther@ is a legal or constructive obligation lo that expendItu, it is probable selll8ment is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure headings that aggregate similar costs lo that category. Page 10
Gwinear-Gwithian Sustainable Community Fund Notes to the Financial Statements for the Year Ended 31 March 2024 Charitable aGtiwitie$ Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activities and seNices for ils benefi¢i8ries. 11 includes both ¢osts that can be allocated diractly to such activities and those costs of an indired nature necessary to suptX)rt them. Grant expeftditura Provisions for grants are made when the intention to make a grant has been communicated to the reapienl but there is uncortainly about either tho timing of the grant or the amount ol grant payable. 3 In¢oma from donations and lègacies Unrestricted Tota 2023 Unrestricted funds Total 2024 Donations and legacies., Donations from companies, trusts and similar proceeds Solar farm contribullons 1,410 45,928 1,410 45,928 47,338 1.170 41.465 47,338 42,635 4 Expenditure on charllable activities Support o$ts Total 2024 Total 2023 Grant making Grants approved Inote 41 Administrator charges Website development Insurance Accountancy fees Sundry 57.094 57.094 1,958 350 277 1,533 51 40.657 1,615 1,958 350 277 1.533 51 364 1,265 203 57,094 4,169 61,263 44,104 Page11
Gwinear-Gwithian Sustainable Community Fund Notes to the Financial Statements for the Year Ended 31 March 2024 5 Grant-maklng Analysis of grants Grants to Institutions 2024 2023 Recipient Friends of Connor Downs Academy Gwilhian Residents Association Hayle Memory Cafe Kehelland PTSCA Connor Downs residents Friends of Towans Busy Bodies Pre-school Nursery Friends of Gwinear School 12,908 1,161 1,534 745 21,086 16,400 6,000 350 350 340 36.877 57,094 40,657 6 Trustees remuneration and expenses The key management personnel ol the charity are considered to be the Trustees. No trustees, nor any persons connected with them, have received any remuneration or reimbursed expenses from the charity during the year. 7 Debtors 2024 2023 Prepayments 78 121 8 Cash and cash equivalents 2024 2023 Cash al bank 71.797 112,548 Page 12
Gwinear-Gwithian Sustainable Community Fund Notes to the Financial Statements for the Year Ended 31 March 2024 9 Credltors: amounts falllng due wlthln on¢ year 2024 2023 Grants payable A¢¢ru81s Deferred income 6,000 1,400 22,614 30,014 36,877 1,277 19,942 58,096 2024 Deferred income at 1 April 2023 Resources deferred in the period Amounts released frorn previous periods Deferred income at year end 19,942 22,614 19,9421 22.614 10 Funds Balance at 1 April 2023 Incomlng resources Resources expended Balance at 31 March 2024 Unrestrlcted funds Gengral Unr8slricled Funds 54,573 48,551 161,2631 41,861 Balance at 1 April 2022 Incomlng resources Resources expendgd Balance at 31 March 2023 Unrestrlcted funds Ggneral Unrestricted Funds 55,858 42.819 144,104 54,573 Page 13
Gwinear-Gwithian Sustainable Community Fund Notes to the Financial Statements for the Year Ended 31 March 2024 11 Analysis of net assets between funds Unrestricted funds 31 March 2024 Current assets Current liabilities 71.875 30,014 71.875 {30.0141 41,861 Total nel assets 41,861 Unrastrictod fund$ 31 Mar¢h 2023 Current assets Current liabili11gS 112,669 58,096 112,669 58,0961 54,573 Total nel assets 54,573 12 Related party transactions There was no related party transactions In the year. In the prior year there were also no related party transactions. Page 14