REGISTERED CIIARITY NUMBER: 1155904 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 FOR THE MARGATE CAVES COMMUNrrY EDUCATION TRUST (CIO) Spurling Cantwn Chartered Certified Accoutstants 424 Margate Road Westwood Ran]sgate CT12 6SJ
THE MARGATE CAVES COMMUF4rrY EDUCATION TRUST (CIO) CONTENTS OF THE FL¥IlNCIAL STATEMENTS FOR THE YEAR EP4DED 29 FEBRUARY 2024 Page Report of the Trustees I to 7 Illdepelldent Examfner's Report Statement of Flnxnelal Aetlvldes Baianee Sheet 10 Cash Flow Statement Notes to the C45b Flow Statejryefjl 12 Notes to the Fin4ncial St4tswents 13 io 21 Detsiled Statement of Flnanelal Actlvltl 22 to 23
THE MARGATE CAVES COMTrtUNTfY EDUCATION TRUST (CIO) REPORT OF THE TRUSTEES FOR THE YEAR ETr4DED 29 FEBRUARY 2024 Th¢ trustces present their rcport with the financial Statements of the charity for the year ended 29 Febrnary 2024. The tnteeS havc adopted the provisions of Aecountillg and Reporting by Charities: Stat¢tnent of Rec0mnThdCd Practice applicable to clwilies preparing thcir a¢¢ounts iu accordance with thc Fiyanci Reporting Stall¢Jard applicable in tbe UK and Republic oltteland {FRS 102) (¢ffe¢tive l January 2019}. This year saw wirk b¢giTh io ¢arnest on tILe Tballet Heritage Volunte¢r Hub projecL fided by the Heritag¢ Lottery Fund. Our aim is to r¢build aDd improve the volunteer base in this import8llt industry, attracting & water numb¢r aud diversity of well trained arld supported volunt¢¢rs, wthil¢ creating employMt opportunities tbat will also strengthen the paid workforce. Many heritage sit¢5 lo¢ally rely oll v0lulltee, and would benefit from input on policses and proCedUs, and assistauee witb training - more news on our progr¢ss below. The trustees would like to thank those who sit on tbe Steing Group, and our partner orgaThi5ations, for their support. Our visitor nuTllbcrs to th¢ Cav¢s rontillued with steady growth this year, as we build awdren¢ss of our fabulous sit¢. Our comtnunity rooms are well used by wups al organisations froyn tr and far. detailed b¢low, and we're so proud of our staff and volunteer tcam in their efforts to support each other and ow local COrnmLUllty. , behalf of the Ttees, I would as cver, like to thank the team for th¢ir ¢ommiknent and dedication. We'r¢ lookillg fotward to weltomillg more visitors to s¢¢ our fascinating Caves, visit OUT café and enjoy our fn& in the coming year. OBJECTtVES AND AcfiviTIES Objectlves aims The Maig2Ée Caves Commurrity Education TDJst is a c]wity workJDg to advance tbe ¢d[tion of the publi¢ in the subjecl and meoning of the environrnent and social history of the Margat¢ Caves and thB Isle of Tbanet alhd to provide opportutiiue6 for learning and education that support tbe local commutiity in tathlillg dssadvalltage. We aim to achi¢ve this by working to developing the Margate Cave5 Site for public benefiL whi]st delivering o prograullne of education and leaming. W¢ striv¢ to be accountable for the fimds we llse. cost<ff¢ctive in carrying olli our purpose. caring and piofessional in the way we work and trallsparent in all our activiti¢s. The Margate Caves C0mUnity Educatioll TDJst operates as an incorporated charity whose objwt is to advattee the oducaiion of the environmental and social bistory of the Margate Caves atd the Isle of Than¢t in aY llwhtter that, now or beffafter, njay be deemed by law to be Charitable. Slgnlficant actAvltAes Th¢ r¢l¢vant powers granted by th¢ ¢ollstitutiott io aehieve the Charitys objectiyes are.. - To encourage, promote, organise alld advance tbe education of tbe publi¢ SU tbe enviroJ]mental and swial history of the Igle of Thanet. - To work in partn¢rship with oth¢r organisations for the advallccrDenl of education and the alleviation of disadvantage. - To iaise fi]Dds to support the work of tbe c]wity' - To purchase and/or lease lat or prop¢rty' - Other purposes that are de¢med exclusively ¢harÈtabl¢. Publfic benefit In %eking to achieve its objectives the charity h8$ had regard to th¢ guidance issued by the Clty Cok]]mission in respect to public benefit. Page I
THE LIWiGATE CAVES COMNIITNrrY EDUCATION TRUST (CIO) REPORT OF THE TRUSTEES FOR THE YEAR EE4DED 29 FEBRUARY 2024 OBJECTIVES AND ACTIVTTIES Voluttteers Last year 39 volunteers leantw th¢ir time and sllpport. VolurLtcers gave 4927 hours over the last twelve nnths, making a SigDificant contribution to ow ability to operate and provide an excelle visitor experiellce. As always, we thank the siThcerely. Our volunteers contribute across all th¢ rol¢s within the C¢ntre. ranging from Caves Guides to Pirates to Father ChristEDas to GaEdellers to MaltenanCe Workers aud Cafe Assistallts. and travel off site to give talks to local groups- in short, th¢re'5 tthIng our volunt¢¢rs cant do! Wr hav¢ tUQDthly bri¢fing5 to kttp volunteers up lo date with what ig goillg 04 as well as trainittg sessions througb our quieter nk)nths. All new voluttleS are buddi¢d with an experienced volunteer and have an induction progrdn)me. We value our volunteers and do our b¢st tQ 5UPPOrt theEll in not only enjoying thcir tirnc but in achieving their ambitions and aspirations, whether tbat is sinwly to meet people or build their skills and experience ill order to gain Cmployettt. This y¢ar olle of ow young volllnieers who came to us for wrk fatniliarisatiofy beeame a k¢y niemb¢r of the team and built their confidence to a point wher¢ they w¢nt on io s¢¢k paid employment to Pursue thcir career dreams. Another volunteer who Call to us for work experience is now working in the retail sector, and one 82ined a job with DWP. Ottc of our existing volunteer% built further on their skills by deliverillg tslks to comrnllnity grnup5. W¢ applaud all of these achievements. 58 /G of our volunteers identify as having ¢ot)ditions undcr thc ncurodiycrse spectnll and 31 /0 of our volllllteers consider themselves dis&bl¢d in way. We again worked with a local college and a local supported living place to support 50rlle volutkteers with severe additional needs gain work familiarisation. Reeo8nising thai loneliness continues to be an Ille for some of our volunteers, we continued our infornml evening volunteer socials. Activities across the year included Serabbl4 quiz nights and tbe opportunity to atlend the thss r¢hearsal of our MurdeT Mystery Event. In thc quieter nK)nths this year we took the voluyJt¢¢rs who wishcd to join irA on fanJiliaTisatioll trips to some local attraction5. This year vffj visited Monkton Nature Reserve and Fan Bay Deep Shelter ne8r Dover. We recogmse the effect of the Cost of Living eri$is on our volunic¢rs, so wc offcrcd a warni space during the wintcr rnonths, as well a5 having wam)ing healthy nalS availabl¢ to thos¢ who nccdcd thenL We fte& each volunteer a Tcsco voucher in thc Icad up lo Christtnas and we continued to stock with toiletries, food and laundry rablets thc anonytnous box for volllnteers to help themselves io free of Charge. We have also supported some Voluntee with access w IIK&l food bank and Sla1 sbop services. Pagc 2
THE NfARGATE CATrTS COMMUNrrY EDUCATION TRUST (CIO) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 2024 ACHIEVEMENf Af+lD PERFORMAf4cE Charitable a¢tivitie$ Visitors We welcomed 28,172 visitors tt> the Caves tbis year, and we're so happy to report that ow f¢edback on sites su¢b as Trip Advisor aud Google is excellent. We've b¢¢n pleA$ed to hosi visits by teams from fellow attractions su¢h as tbe BAF Man5ton History Mus¢un4 Mot]kton Nature Reserve and Dickcns House Museum. Of course, we conti]Lue to support our eolleagues at Visit Thallet amd Visit Britain by hosliDg prcs% and iufiu¢ncer visits and wc thank our local tourism colleagues for their support. Tbe Commullity Café Our COllL1ty café once again regainc4J its 5-star Food Hygiene status tbis Yr, 2nd bas conlinu¢d to provide healthy, Iow-¢OSt rn¢nus. Our café tearn cater for many on-sit¢ cv¢nts alld meetings too, which this year have includL. three-course dinner nwiu5 for OUT popular Murder Mystery evenings. an afternoon tea for th¢ Mayor of Margat¢ wl was hosting 0¢b Nfayors, Chairmen and Councillors from across Kenl a buffet for a naming c¢remotty' a larg¢ cooked buffet for a ruby wedding ¢¢l¢bratio and marty nLOie. The café's pay-it-fonvard scheme continues. visitors can pay for a slip, the cost of which is equival¢nt to a hot drink These then go on the board and can be u5¢d by anyone who needs a hot drink W¢ have seen uptsk¢ ill tbis from s¢rvice us¢r$ of some of the hires in our community roo, as well 8s som¢ locals. The Conununity Rooms As well as using the conjmunity rooms for cducation a[ events they have been hired by the followiDg users. oth¢rs.' - Wren Project - Margat¢ Pride - Beyond the Page - Power of Women Festival Thanet - Home education groups - Oasis - Advoea¢y tor All - Speak Up CIC - DWP Jobs Fairs - For Us Too - Spurling Cantson Accoutttants - K¢nt Comlnunity Fowidation - Manspa F¢stival of Cats . Vikiug Care -U3A . W&]thill Commutiity Gardens Th¢ rootns have also been hired by individuals in the cotnmunity to host birthday parti¢$, cl)risteoings, social gatherings and hen do's. tkarnAllg Educatlon With our leamittg MaterIS to hand, we hosted 17 school Trisits this year, 8 of which aIso did one of our workshops. We a150 w¢lcorn¢d 6 unifomi groups for out-of-hours visits, 5 English language sch(K)Is and a Tang¢ of other 0upS. We look to making all of our seh)ol holiday activities cducational for children and educational. For the Faster holidays, for example, focussed on thc 160th anniversary of the Caves opening to the publi¢ and invited back Birchington-based artist Da1 Col¢ to celebrate Andividual achicv¢mellts with a continuation of her Chalk Up workshop$ from th¢ previous year, with more than 100 Child making posters and badges. We themed our Summer oliday activities around Alice ill Wollderlalld and we also celebrated local wildLife, ¢r¢epy crdwlies and WoD]cn in Sciellce {irtcludillg son]e local history-rnaking wom¢ll) across the otkn¢r s¢hool holiéays. Our Messy Mondays craft aetiviti¢s iDvolved mor¢ 400 ¢hildren across all of the school holidays. Page 3
THE MARGATE CAVES COMMUNITY LDUCATION TRUST (CIO) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 21124 M¢Tnbers of our team w¢r¢ often out and about tsking infornThtion about tbe Caves itito the community. Kaylcigb, our Centre Manager, attended heriEage events at Ramsgate Tunnels and the Powcll-cotton Museum. and our team gave tslks to the Pilg[in, Hospice, U3A and Wl. FllDdrai$ing a¢tiTAtie$ Our hvo main fimdraising cvcnts this year hav¢ once again bccn Murder Mysiery and Father Cbristtllas at the Caves,. the forn contributed a net sllrplus of £2,587.63 over three nights ill March and Novcmber. Father Christmas at the Caves added £12.062 to ourunrestricted fimds. Santa was residence ITh the Caves for 12 days OV weekellds and then for the week rullnillg up until 23rd D¢cembeT. The event attracted 1172 excited children plus their families a[ was really well received. We're planning year round for annual Émprovements to this ¢v¢nt to keep our customers retiirniiig to us, in what ¢arL be quite a crowded nrkel Our Quizzes and vintage fairs made £355 and have the benefit of bringing Jmv visitors to the Caves alld swelling tbe afé's takings too. Sincere thanks eyeryolle who has support¢d our work Thanet Herltage Volunteer Hub Our project managevs work started in earnest in the early months of 2023, beginning with work on the branded w¢bsitc and conducting a survcy of the selected project partners to establish their organisational, volunteering and training needs. This audit discovered that there wcre thcre were 71 vollmteers across the project partners, most of tbese being at IiAF ton. The other partlls all revealed a need for more voluntcers to 5UPPOrt keeping their attractions open. The survey also highlightcd that these relatively small organisations require assistance with establishing effectiv¢ polici¢s and procedwes to support the recnEitmerLt and management of volunteers. Work began on producing a comprehensive toolkit ol policies alld PredUreS, the evenal - ambitiousl _ aim being to iDclude the 'too]kit' olk the Hub website with easy-to-follow lirlks to a set of template do¢um¢nts that collld be dowoloaded and personalised for I¢. The site will also include IiDks to onli¢ traillin& thus making skills and knowledge easy to update for those organisations that have difficulti¢s fiuding the to release volullteer5 atd tnanagers to attend coutses. The project encountered a number of unforeseen proble5 during the year qt a partner trdining provider restructtwing and changing the eurriculum that had been offere¢L This issue was overcome by working Kent Coast VolunteIll (KCVI to pmauce a trainillg prOarnMe to support the portnership with volunteer management traiDing. Meallwhile, work began on piupointing th¢ best methods to reernit volunteers, with our PM Visiting cou)ll]unity organisations to champion tbe message of voluut¢¢r1& proTroting vacallcies on tbe KCV web$it¢, estabEishiug litjks with Job Centre Plu$ and attending Job Fairs in Margate and Ramsgatc. This lattu prov¢d to b¢ an effective method of recmiting interested pcople who then att¢nd¢d inf0mtIoll sessions at the Caves. The process of becomiug a Job Fair host began in Novernber 2023 and we h&ve just hosted ovr fLf5t sll¢¢¢ssful Job$ Fair. Pag¢ 4
THE MAJiGATE CAVES COMTrIiINITY EDUCATION TRUST (CIO) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 2024 FUTURE PLANS The main prioriti¢s for The Margate Caves Conllnurrity Education Trngt during 2024125.. - To acbi¢v¢ vi51tor llUEnbers of 28.OLK)' - To a¢hieve budget targets for the Ceth. - To coJtsAnue to develop the cbariWs ¢otnrouwty atul leamillg prograJj)Ds, developitig parth¢Tships that will help deliver th - To drive fonyard th¢ Than¢t H¢ritage Voluttteer Hub and identify fvnding tbat could support the project beyond its vo-year pilot" - To eolltinue to build our Cbristnw fundraising event - To maximise sccondary spending in our shop,. - To continue to investigate n¢w us¢s for our rooms, improve our flltIeS and develop that in¢ome stream. To wThtinu¢ iwroving the gard¢lls attd work towards a plan for th¢ land at the rear of the building. STRUCTURE, GOVERNANCE AND MANAGEMENT Goyernlng doellllhent Th¢ charity is ¢oDstityt¢d under a chitable InCorporaa Organisation S¢hem¢ regiSred with th¢ Charity Commission (C]wity number 1155904). cOnstittion The Margate Caves Comtnurrity Education Tn1 OpateS as an incOorated charity whose obj¢ct 1$ to advance the education of th¢ ¢nviroJJm¢ntal a[ 5wial history of tbe Margate Caves and the Isl¢ of Thanet in any manner whi¢b now or bereafier lljay be deemed by law to be charitable. Recruitment and appoillt]lleDt of new tru$tees The Trustees are appoitited by members ill a general Meeti Officers alld Trustees retir¢ ¢aoh year and Officers ar¢ available for r¢-¢l¢ction for up to 8 ¢oDseeutive years and TNstees for 6 con5¢CUtive years. The number of Trnstees should Thot be less than three but there ts no upper limit on nutnb¢TS. The Trustees who s¢ryed during th¢ p¢rio& together with alky cl]anw to tbe date aT¢ ]isted oll page 5. Trnstees are rttruited based on the skills and expcrience required for successful governance of th¢ organisatioTh. All Trust¢cs r¢eeive a ¢opy of all the charity policies. the charity tlustee bandbook and undertake all induction training session at the chariiies base in Lolldon. Organisational structure The Trustees meet as requÈred and not normally less than 4 titn¢s a year. The Trustees took direct r¢$poEJsibility for the janagee atsd director of the charity, as well as governance aod 5trat¢gy. Rtskmanage]nent Th¢ Trnstees hav¢ undertak¢n 8 review of the major risks to wl)i¢h the clwity is exp05c(L and systen]s have been established to mitigate those risks. Periodic reviews are made to ensure that the charity ¢OlJtillues to identify and mitigat¢ any tnajor risks that may arise. REFERENCE AND ADMINISTRATIVE DETAILS Regtstered Cbarity number 1155904 Page 5
THE MARGATE CAVES COI¥IMUNITY EDUCATION TRUST (CIO) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 2024 Prineipxl addres$ The Margate Caves l Northdown Road Margate Kent CT9 IQH Trustee5 S Vickery Chairnwi A Cannoll Treasurer Mts V Kirscbller A Smith K MeChesThey (appointed 151512024) Independent Enmlner Sophie Grant Spurllng Cannon Chartered CertifIed Accountants 424 Margate Road Westwood Ramsgat¢ Kent CT12 6SJ COMMENCEMENT OF ACTtVlTIES The Charitics activities colljrllenced in November 2013, with the Charitsble IllcorpoTated Organisation beitig fornled in Febtuary 2014. TREAsIR's REPORT AND Accoijr Aehleycments and Perf0rDllee Last year we set ourselves these objectives.. - To achicvc, Covid restrictions allowing, visitor llumbeis of 28,000,. - To achieve budget iargets for th¢ Centre,. To continue to develop the charity's conununity and learning prograMn8 dcvcloping paEtskerships that will help deliver them. - To refibISh and develop the gardens and land &t the rear of the building. I'tn pleased to report that i)ur charity has had a year of cngagcment. We set a tsrget of 28,000 visitors, and we have mct this goal, welcoming a total of 28,172 visitors. This achievement rcflects our communitys support and our team's hard work. Fin#neIal Rthew The Stat¢m¢llt of FiDaticLal Activities shows a n¢t deficit for the year of £84,851. The ctwity's reserves total £1,125,723 of which £841,666 are restri¢ted and £60,000 are designated for the r¢furbishm¢nt ofour gardens and the laDd at th¢ back of the building. Vutsre Developments Our key objectivcs for next year are detailed witbill the "Objects alld Activities" page of this r¢port. Health Safety Poliey and Rlsk Asses5meD¢ P•li¢y The charity has a document¢d Risk Assessment and Health and Safety Policies. these ar¢ av#ilabl¢ on requ¢st. Policies ar¢ updated in lEgl of curr¢nt Icgislation a[ changes withitt TMCCET'5 working pra¢ti¢¢s. Reserves Pollcy The ¢harity's airn is to hold one year's operdting costs plus redundancy provisions at all times. This we have achieved. Page 6
THE MARGATE CAVES COMMUNrrY EDUCATION TRUST (CIO) REPORT OF THE TRUSf£ES FOR THE YEAR ENDED 29 FEBRUARY 2024 Approved by ordcr of th¢ board of tsStee8 on ... SL Pag¢ 7
INDEPENDENT EXAmK,s REPORT TO THE TRUSTEES OF THE IVIARGATE CAVES COMMUNITY EDUCATION TRUST {CJO) Independent examiner's report to the I$te¢S of Tbe Marg*ts Caves Communlty Education Trust (CIO) I r¢port to the charity twstees on my examination of the accounts of Th¢ Margate Caves Comnwnity Education Tn1 (CIO) (the Trust) for tbe year ended 29 F¢bruary 2024. Responslbi]itles and basls of report As ihe charity trustees of the Trust you are respoDsible for the preparatioll of thc a¢counts in accordance with the reqUirenrtts of the Charities Act 2011 {'tbe Act). I report in respect of my examination of the Tt'S accounts Cated out under Section 145 of the Ad and in carrying oiit my ekwNnation I hav¢ lollow¢d 211 applieabl¢ Dire¢tioD$ giv¢n by the Ciwity Commission uttder SeetioD 145(5)(b) of the Act. IDdepelldetst examiner's statsment I have completed w examirrdtion. I confimi that no matcrtal rnatters have come to my attention in connection wxth the cxamioation giving me callse to believe that in at]y material respect". accounting records were not kept in respect of the Tnt as required by Section 130 of the Act. or the accouuts do not accord with those records. or the accourAts do not comply with the appticable requirements conc¢rning the form and content of accouttts set out An tbe Charities {Accounts and Reports) ReatiOnS 2008 other than any requitentht that th¢ a¢coullls give a tNe and fair view whi¢h is not a matter ¢on8id¢r¢d 0$ pth of an independellt exatnination. I have no wll¢¢rns alld have coDk aeross no other mattels in collnectioll with th¢ ¢xwDination to which attention should be drawll in this report ill order to enable a proper understanding of the accounts to be reached. Sophie Grant Th¢ Association of Chartered CertÈfied AccowLlants Spurling C2nnon Chart¢d C¢rtifi¢d Accountallts 424 Margate Road Westtvood Ratn5gat¢ Kent cr12 6SJ Date.. Page 8
THE MARGATE CAVES COMMUNITY EDUCATtON TRUST (CIO} STATEMENI OF FINANCIAL ACTivrrIES FOR THE YEAR ETr4DED 29 FEBRUARY 21124 2f124 Total funds 2023 Total fijnds Unrestricted lic*ricted funds Notes DICOME AND ENDOWMENTS FROM Donations and legacies 15&830 40,521 199,351 180,305 Investmenl illcome &726 &726 7,970 167,556 40,521 208,077 188,275 EXPEE4DITURE ON Raising fvnds 27,328 27,328 25,033 Ch4ritable 4¢tivitie$ Development of Conjmunity and Education Centre 168,653 43,401 212,054 168,286 Other 53,546 53,546 53.546 Total 195,981 96,947 291.928 246.865 NET INCOMEI{£XPEf4DrrtlRE) (28.425) (50,426) (84,851) (58,590) RECONCILIATIOP4 OF FUNDS Totsl fund5 brought fonvard 312,482 898,092 1,210,574 1.269.164 TOTAL FUNDS CARRIED FORWARD 284,057 841,666 1,125,723 1,210,574 The notes fomipart of the fin2n¢ial $tst¢tn¢nts Page 9
THE MARGATE CAVES coM[v EDUCATIOT¥4 TRUST (CIO) BALANCE SHEET 29 FEBRUARY 2024 21124 Totsl funds 2023 Total fimd8 Utjrestricted fid8 Restricted fiujds Notes FIXED ASSETS Tangible assets 10 814,450 814,450 867.996 CURRENT ASSETS Stocks Debtors Cash at ballk and hand 7,126 4,758 279,813 7,126 4,758 307,982 8,502 2.252 337,285 12 28,169 291,697 28,169 Jlg,866 348,039 CREDTTORS Amounts falling due tbin one year 13 (7,6411) (953) (&593) (5.461) NET CURREPU ASSETS 284,057 27,216 311,273 342,578 TOTAL ASSETS LESS CURRENT LLiBILITIES 284,057 841,666 1,125,723 1.210.574 NET ASSETS 284,057 841,666 1,125,723 1,210,574 FUNDS Unrestricted ndS Restricted filnds 14 284,057 841,666 312,482 898,092 TOTAL FUNDS 1,125,723 1.210.574 The fmancial stal ellts were approv¢d by tbe Board of Trustees and authorised for issuc alld were siglled on its bthalf by.. on A Cannon- Tne Thc notes forni part of tbcse flnancial statcm¢nts Page 10
THE MARGATE CAVES COTrIMiTrIITY EDUCATION TRUST (CIO) CASH FLOW STATEMENT FOR THE ITAR EIYDED 29 FEBRUARY 2024 2024 2023 Notes Cash flows from operatlng aetlvltfies C&sh generated frotn operations (29,465) (5,829) Net ¢ash used in op¢rating activities (29,465) (5,829) Cash flows from illvesting activitles Intercst r¢ceived 162 1,114 Net cash provided by investing activiti¢s 162 1.114 Ch4nge ID cash 4nd ¢•sh equival¢nts In th¢ reportillg perlod CAsh and cash equivalents 4t tbe beglnlllng of the reportlng perlod (29J03) (4.715) 337,285 342,000 Cash and eash equlvalents at tbe end of the reportillg period 307,982 337.285 The notes fornh part of these fal statements Page 11
THE MARGATE CATrTS COMMUNTfY EDUCATION TRUST (CIO) NOTES TO TIIE CASH FLOW STATEMENT FOR THE YEAR ENDED 29 FEBRUARY 2024 RECONCILIATION OF NET EXPENDrruRE TO NET CASH FLOW FROM OPERATING ACTtVITIES 21124 2023 Net eendIture for the repordllg perlod (9$ per tbe Statement of FIDanclal Actlylrfes) Adju$tmellts for". Depreciation charges Interest received Decrea5el(lnea$e} in stocks (Increa5e)/decr¢ase in debtors tncrease in creditors (84851) (58.590) 53J46 (J621 1?76 (2,607) 3,233 53.546 {772) 377 724 Net Cash used in operations {29,465) (5,829) ANALYSIS OF CIIANGES IN NET Fuf+lDS A¢ 113r23 Cash flow At 2912124 Net e8$b Cash at baTJk alld hand 337285 (29J03) 307,982 337,285 (29J03) 3117,982 Tot 337285 (29?03) 307,982 The notes foTm part of tbese r]n2ncial statements Pag¢ l2
THE MARGATE CAVES coMTrIU EDUCATION TRUST (CIO) NOTES TO THE FINANCIAL STATEMENTS FOR THE ITAR £Tr4DED 29 FEBRUARY 2024 ACCOUNTING POLICIES Basts of preparlng the fillanciaI stf4tetnent5 Thc financial 5tat¢ments of thc chariry, which 15 a public b¢u¢fit entity under FRS 102, have been Prepared i a¢¢ordauce with the Charities SORP IFRS 102) 'A¢¢owiting attd Reporttng by Charities.. Statement of Recommended Practice applicablc to charities preparing th¢ii aollnts in accordanc¢ with the Financiat Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) (effective l January 2019),. Financial Reporting Statdard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, the Charities Act 201 l. Th¢ fu)au¢ial Sttttents have bKn prepared uler the ILiStorical cost ¢onv¢ntiou. IDcDme AII iDcom¢ is r¢¢ognised ill th¢ Statemellt of Finaticial ActlVLti¢s on¢¢ the ¢11ty has entitI¢Dlt to the funds, it is probable tIt the income will be received and the amoullt ¢au b¢ Jlleasured reliably. ExpeDditsre Liabilities are reCOlsed as expenditure as soon as t1¢ is a legal or constNcliv¢ obligation con)mitting tbe cb8rity to that ¢xp¢nditur¢, it is piobabk that a tratjsfer of econon)i¢ b¢nefits will be required in wttlemellt and the amowit of the obligatiort catt be measured reliably. Expenditure is accounted for on an aceruals basis and has b¢¢ll ¢lassifi¢d u[er h¢adings that aggr¢gate all cost related to the category. Where costs caDnot be directly altribud io particular ]ditigs tbey have been allo¢al¢d to activities on a basis COll5iStent with th¢ use of resow¢¢s. Tangible red assets DepreeiaÉaon is provided at tbe following aD]wal rdtes ordei to writ¢ off ¢ach asset over its ¢stitiJated usefi lif¢. Freehold pmpety Fixtur¢s and fitting5 Computer equipment in accordance with th¢ prop¢rty 200/0 on Cost 330/0 on cost Sto¢ks Stocks are valued at the lower of cost and net realisable value, after n)akiDS due allowance for obsol¢te aTLd slow moving it¢ms. Taxatloll Th¢ Charity is ¢xempt from t&T on its charitxbl¢ a¢tivit¢s. Fund 4ccoulltillg Unrestricted fimds can be used in accordance with the charitsble objectiv¢$ at the discretion of tbe tLVSt¢¢$. Restricted fimds can only be used for particular restricied purposes within the obj¢¢ts of the charity. Restrictions arise when specified by th¢ donor or wh¢n fiDds ar¢ raLSed for particular restricted pw)oses. Furth¢r explaDation of th¢ natu and PUTPOS¢ of ¢ach is illcluded in the Dotes to the fwancial statemellts. Hlre purebase leaslng eomjnltmellts R¢ntals paid under opernting leases are charged to the Statemellt of Finall¢ial A¢tivÈties on a straigbt line basls over the period of the lease. Pensfi0 Costs and other po$t-retiTement bellefits The ¢huity operatcs a defined contribution pension schen*. Contributions payablc to the charitys pension scheme are charged to the Stat¢mcnt of Fillao¢ial Activities in the period to which th¢y relate. Page 13 ¢ontinu¢(t..
THE MARGATE CAVES COMMifNrrY EDUCATtON TRUST (CIO) NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YKAR ENDED 29 FEBRUARY 2024 DONATIONS AP4D LEGACIES 2024 2023 Admissions Donation5 77J78 2,198 25,278 38.671 411,520 15J06 67,177 1,333 21,251 32.670 41,900 15,866 108 Shop Cafe Events Activities 199J51 180,305 Grants received, inclllded in the above. are as follows.. 2024 2023 Other grdnts 40,520 41,900 INVESThIENT INCOME 2024 2023 COnunity centre Deposit account interest 8,564 162 6,856 1,114 8,726 7,970 RAISING FUNDS Other tradittg actlvfitles 2024 2023 Opening sto¢k Purchases Closing stock 8,S02 25.952 (7,126) 7,730 25,805 (8.502) 27J28 25,033 Pag¢ l4 continued...
THE MARGATE CAVES EDUCATION TRUST ICIO) NOTES TO THE FINANCIAL STATEMENfs- colltiDued FOR THE ITAR ENDED 29 FEBRUARY 2024 CHARITABLE ACflVITIES COSTS Support costs (see uote 6) Direct Costs Totals D¢v¢lopm¢nt of Comllllty and Educatioll Ccntre 195,567 16,487 212,054 SUPPORT COSTS Gov¢rnallee Costs Financ¢ Totsis Dcv¢lopm¢ut of 0)n]muty and Education Centrc 3,0411 13,447 16,487 TRUSTEES, REMUNERATION AND BENEFITS Trustees. expenses There were no ttustees, expenses paid for th¢ year ended 29 February 2024 nor for the year e]ed 28 February 2023. STAFF COSTS 2024 2023 Wages and salarie5 Social Srity sts Other pension costs 127.293 3,713 1193 97,923 987 1,306 133,199 100.216 Th¢ F4v¢rag¢ tTh)nthly nurob¢r of ¢mployees duTing the year was a5 follo". 2(J24 2023 No employees r¢¢¢ived ¢moluments in ex¢ess of £60,000. COMPARATIVES FOR THE sTATELENT OF FINANCIAL ACTtVlTIES U1¢&t[]cted fimds Rcstricted funds Total INCOME AND EE4DOWMENTS FROM DonatiOll5 and legacies 138,405 41,900 180,305 ItLvetsttll¢llt itwn 7.970 7.970 Totsl 146,375 41.900 188,275 EXPEf4DrruRE ON Raising fidS 25.033 25.033 Page 15 colltinued..
THE MARGATE CAVES COMMUNrrY EDUCATION TRUST (CIO) NOTES TO THE FINANCIAL STATEMENTS- eontknued FOR THE YEAR ENDED 29 FEBRUARY 2024 COMPA114TIVES FOR THE STATEMENT OF FtNANCLtL ACTIVITIES- contlnued Unrestricted Restricted Total flld$ Charltable aedvltles Development of Community and Education Centre 153,953 14.333 168,286 Other 53,546 53,546 Total 178,986 67,879 246,865 NET INCOMEIIEXPEP4DTTURE) (32.611) (25,979) (58,590) RECONCILIATION OF FUNDS Total fiwds brought fonvard 345,093 924,071 1,269,164 TOTAL FUNDS CARRIED FORWARD 312.482 898,092 1,210,574 io. TANGIBLE FIXED ASSETS Fixtures and fittillgs FreehoEd property Computer equipment Totals COST At l March 2023 and 29 F¢bruary 2024 1,026,809 53584 2.951 1.1)83.4114 DEPRECIATION At l Marcb 2023 Cb2rge for year 170,289 42,829 42,168 10,717 2,951 215,408 At 29 February 2024 213,118 52,885 2,951 268.954 NET BOOK VALUE At 29 FebLW 2024 813,751 699 814,4511 At 28 February 2023 856,580 11,416 867,996 The building will b¢ dcpreciated in line wlth the remaining Icase lifc of 24 years from 2019. Page 16 contimied...
THE MARGATE CAVES COMMUNrrY EDUCAfioN TRUST (CIO) NOTES TO THE FINANCIAL sTATETs- continued FOR THE YEAR EM)ED 29 FEBRUARY 2024 ii. STOCKS 21124 2023 Stocks 7,126 8,502 12. DEBTORS: AMOUNTS FALLING DUE wrntll¥ ONE YEAR 2024 2023 Trade debtors VAT Prepayments 1,968 ioi 2,151 2,7911 4,758 2,252 13. CREDITORS: AMOi)TrITS FALLING DUE WITHtN ONE YEAR 2024 2023 Trade creditors Taxation and social security Oth creditors 485 1,008 7.100 I,450 4.011 8,593 5,461 14. MOVEMENT IN FUNDS Net movement ill fiLll¢ls At 2912124 At 113123 Unrestricted funds G¢n¢ral fiwd Capital Wokn Furtd 252,482 60,000 (28,4251 224,057 00,00 312,482 (28A25) 284,057 Restrieted funds Heritage Lottery Fund Garfield Weston Fwjd Roger De Haa Kent Community Fuud Loan Building Fund HF Covid FuDd 34370 2,979 1,000 2,0011 857.608 235 (18} (2,979} (1,000) (2,000} (41,802) (117) 25,742 815,806 118 898,092 (56,426) 841.666 TOTAL FUNDS 1,210574 (84,851} 1,125,723 Page 17 continued...
THE MARGATE CAVES COmI4wNf EDUCATION TRUST (CIO) NOTES TO THE FINANCIAL STATEMENTS- cothtinued FOR THE ITAR ENDED 29 FEBRUARY 2024 14. MOVEMENT IN FUNDS- ntInUed N¢t mov¢rn¢nt iti¢luded in tbe abov¢ are as follows.. In¢on)ing resource5 Resources Movement expended in fLllLds Unrestrlcted TrdS General fund 167556 (195,981) {28,425) RtrIcted funds Heritage Lottery Fund Garfield Weston Fund Roger De Haan Keni Commurjity Fwhd Loall Building Fulld HF Covid FuDd 40,520 (49,048) (2,9791 {i.0001 {2,000) (41,8021 (118) (8.528) (2,979) (1.000) (2,000) (41.802) {117) 40521 (96,94D (56,426) TOTAL Ft1Tr4DS 2118,077 (292,928) (84,8SI) CompAratives for movement In funds Net mov¢ment in fia$ At 28r2123 At 113122 Unrcstricted funds General fund Capital Works Fund 285,093 60,000 (32.611) 252.482 60,000 345.093 (32.6111 312.482 Restrlctsd funds Herstage Lottery Fund Garfield Weston Fund Rogcr D¢ Haan Kent Community Fund Loan Building Fuud HF Covid Fund 9.822 8,486 2,000 4.000 899,410 353 24,448 {5,5071 {I,0001 (2,0001 (41,8021 {118} 34,270 2,979 1,000 2.000 857,608 235 924,071 (25,979) 898,092 TOTAL Fuf4DS 1,269,164 (58590} 1,210,574 Pag¢ 18 ¢ontinued...
THE MARGATE CAVES com[UNrry EDUCATION TRUST (CIO) NOTES TO THE FINATrtCIAL STATEMENTS- eontlnlled FOR THE ITAR ENDED 29 FEBRUARY 2024 14. MOVEMENT IN FUNDS- continued Cotnpardtive net movement in fiu]ds, included in th¢ above are as follows: Incorning resouw¢s Resources expended Movement in fijnds Unrestrlcted fund$ General fimd 146.375 (178,986} (32.611) Rcstrtcted funds Heritage Lottery Fund Garfield Weston Fund Roger De Haan Kellt Commutiity FwLd Loan Building Fuud HF Covid Fund 41.900 (17.452) (5,507) (1.000) (2.000) (41,802) (I l8) 24,448 (5,5071 {i.0001 (2,0001 (41,8021 (118) 41,900 (67.879) (25.979) TOTAL FUNDS 188,275 (246,865) (58,590) A current year 12 nnthS and prior year 12 months combined p)sition is as follows: Net moveEn¢nt in fiJtMIs At 2912124 At 113122 Unrestricted fullds G¢n¢ral fiu Capital Works Fund 285,093 60,000 (61,036) 224,057 60,0(M) 345,093 (61,036) 284,057 Restricted funds Heritage Lottery Fulld Garfield Wcstoll Fund Roger De Haall K¢nt Community Fund Lan Buildirtg Fund HF Covid Fund 9.822 8,486 2,000 4,000 899,410 353 15,920 {8,486) (2.000) (4,000) (83,604} (235} 25,742 815,806 118 924,071 (82,405) 841,666 TOTAL FUIIDS 1.269,164 {143,441) 1,125,723 Page 19 conttnued...
THE MARGATE CAVES COMMUNrrY EDUCATION TRUST (CIO) NOTES TO THE FINANCLIL STATEMENfs- Continued FOR THE YEAR ENDED 29 FEBRUARY 2024 14. MOVEMENf IN FUNDS- contlnued A current year 12 months and prior year 12 months combined net movenw in fiwds. iThcluded in the above are &$ follows.. Iorning resources Resources expended Movemeni in fiJnd8 Unrestrfeted funds General fid 313,931 (374,967) (61,036) Restri¢trd fund$ Heritage Lottery Fund Garfield Wcston Fund Roger De Haan Kent Community Fund LoaD Building Fund HF Covid Fund 82.420 (66.500) (8,486) (2,000) (4,000) (83,604) (236) 15.920 (8,486) (2,000) (4,000) (83,604) <235) 82,421 1164,826) (82,405) TOTAL FUNDS 396,352 (539,793} (143,441) 15. RELATED PARTY DISCLOSURES Th¢r¢ were llo related paty traStionS for the year ended 29 February 2024. 16. DESCRIPTION OF FUNDS KEKf CO COLfNCIL MEMBERS GRANr This grant was awarded to assist with the development the Margatc Caycs Ccntrc. BJG LOTTERY FUND This gydn¢ is a contribution towards the d¢v¢loprn¢nt of tbe Margate cav Celltrc. HERITAGE LOTTERY FUND This grant is A contribution towards the developrnent of the Mxrgat¢ cav Ccntrt. GABFIELD WESTON FUND This grallt is a contribution towards the interpretation and deVelOpnnt of learning mat¢Tial for the new buil(L Cash funds of £17.874 were spent on l May 2019 for an asset wiÉh the purpose of developing thc new build. The fimd balance reported per the accow)ts is the asset valu¢ and th¢s¢ fijnds will depreciated over the use1 life of the asset. ROGER DE HAAN FUND This grant was awarded for the int¢Jpretstion of the new build. Cash fidS of £1,062 olld £3,938 were sp¢ni on 28 Jun¢ 2019 and 27 August 2019, respectively. The fid balanc¢ ryorted per the ac¢ounts is the asset value al these fidS will be depreciated over the useful life of tb¢ asset. Page 20 ¢ontinu¢d...
THE TrIARGATE CAVES COMTrIUNrrY EDUCATIO TRUST (CIO) NOTES TO THE FINANCIAL STATEMENTS. continued FOR THE YEAR ENDED 29 FEBRUARY 2024 16. DESCRIPTION OF FUNDS- coDtlnued BUILDING FUND The building fllt re]ate5 to th¢ prop¢ty l Northaown Road. KENT cOmNIUNf FOUNDATION FUND This W was a colltribtstton towards the fitting out of tbe Co]Dttnmity Rooms. Cash fill]ds of £IO,O(K) re spent Ort 27 August 2019 towards tbe fitting out of th¢ Conununity Rooms. Thc fL]ud balau¢e rq)orted per the accounts L5 the asset valu¢ and tbese fillth will b¢ d¢preciated over th¢ usefid [e of the asscl. TRUSTHOUSE CHARITABLE FOUNDATION FUND ThS grant is a contrAbution towards the building of the ncw Cornmunity and Visitor C¢ntre 2nd tbe refuTbishuRtst of tbe new build. HEIUTAGE COVID FUND This grdDt was awarded for the assistance of associated eosts required in ord¢r to operate through restrictions applied tbrough Corouavirns. 17. CHARGES TO PROPERTY There are restrictions on the property l Northdowi Road as set out by the Heritage Lottery Fut]d and Big IA)ttery Fut]d, thc fimders of the project, stating th¢ charity must keep ex¢lu5iY¢ control over it. The PTOP¢rty IIliLSt not be sold. l¢t or oth¢EWi5¢ part¢d with or any interest in IL OI any rights given over to aDyOll¢ ¢lse WiUt approval beforehand. If approval is given for tbe sale of tbe property, a proportion of tbe leS price is Icpayabk. The pioperty must be n]aintained in good repair and collditioll aud must be iosyred as set out by the fld¢r& guidan¢¢. Page21
THE MARGATE CAVES COMhlUNITY EDUCATION TRUST (Cto) DETAILED STATEMENf OF FINANCLIL Ac[tv[Es FOR THE YEAR ENDED 29 FEBRUARY 2024 2024 2023 INCOME AND ENDOWMENTS Dottatiotts and leEaefies Admissions Donatiolls Shop Cafe GraThts Evellts Activities 77,378 2,198 25,278 38,671 40,520 15J06 67.177 1,333 21,251 32,670 41,900 15,866 108 199?51 180,305 InvestmeDt income CornTnurLity crlltre Deposit account interest 8,564 162 6.856 1,114 8,726 7.970 Tot41 in¢oxniti£ T¢sources 208,077 188,275 EXPEP4DrruRE Other tradlllg Actlvfitles Opentng stock Shop expenses Cafe expenses Closing stock 8,502 12,941 13.011 (7,126) 7,730 12,765 13.040 (8,5021 27J28 25.033 Charitable aftivitie5 Wages Social s¢¢urity Pensions Repai & rene19 Computer exp¢nses Insttrance Light and heat Telephone Printing. postage & stationery Advertising and nwketing Cleaning & waste disposal Project nJanag¢tn¢Tht Other congultaucy fees Miscellaneous exp¢ns¢$ New st2ff Carried forward 127,293 3,713 2,193 10,218 297 6,1011 111,006 1,149 1,374 3,574 2,525 97,923 987 1,306 23,090 981 6,281 5.425 971 1.243 2,733 8,348 490 1,268 4,092 1.731 5.200 185,465 153,086 This page does not fornipart of the statutory financial stat¢rn¢nts Page 22
THE MARGATE CAVES COMMUNrrY EDUCATION TRUST (CIO) DETAILED STATEMENT OF FANCIAL ACTIvrrIES FOR T YEAR EIYDED 29 FEBRUARY 21124 2024 2023 Charitable a¢tivRtles Brought forwyd TrdintTrg costs Activity costs Fundraising costs Event expenses Volunteer expenses 185A65 1,454 150 153,086 507 1,681 2,595 892 3.202 6,063 1435 195,567 161,963 Other Fr¢¢holdpropcrty Fixttres and fittings 42829 10,7l7 42,829 10,717 53,546 53,546 Support ewJt$ Finanec Bank charges 3,(J40 2,535 Govern&nce costs HMRC Illterest AecountslleyAnd legal fees 14 13.433 3,788 13,447 3,788 Total resources expcndcd 292928 246,865 Net expenditure (84,851) (58.590) This page does not forni pth of the statutory fitjallcial statements Page 23