Bagworth Community Centre Trust (2013) Limited Report and Flnanclal Statement8 For the year ended 31*1 March 2024 Reglstered Charity number: 1165947 Worklngweek Llmlted 2West End Bariestone Warwickshire CV13 OEJ
Bagworth Community Cantre Trust {2013) Limited Report and Flnanclal Statements .Forthe year ended 31" March 2024 Contents Page Report of the Trustees Report of the Independent Examiner Statement of Financial Activitie8 Balance Sheet Notes to th8 Financial Statements
Bagworth Community Centre Trust (2013) Limited Report of th8 Trustees Forthe year ended 31" March 2024 The Trustees present their report together with the ftnancial statements of the charityfor the year ended 31" March 2024 Organlsational structure The Company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under it8 Articles of Association. The organisation is a charitable company limited byguarantee. incorporated on 3 April 2013 and registered as a charityon 27 February2014. The companywas established undera Memorandum of Association which established tha objects and powers of the charitsble company and is governe(i under its Articles of Associatlon. Inthe event of the cornpany beingwound up members are required to contribute an amount not exceeding E1. Govern8nce and Management The Trust has four Dlrectors plus a smslL number of volunteers who regularly attend arid participate in Trust Leadership meetings. known as Management Committee Meetings. and events. There Is a good mix of user group representatives, business skills and social diversity wlthln the Commlttee. Notices promotlng the Trust's work are dlsplayed In the bulldlng and anyone who Ss interested in supportlng ourwork Is invlted to become more Involved. Expressions of interest to be a Director are w8lcomed and prospective Trustees are appointed by the existlng Board of Directors following the procedures detailed in paragraphs 33-35 of th8 Articles of Association. All members of the Management Committee give their time voluntarily and receive no benefits from the charlty. The Trust's annual accounts are revlewed by an Independent person In the interests ol transparency. The Communlty Centre bulldlng. which the Trust was established to run and operate, is owned by Bagworth and Thornton Parish Council.TheTrust leasesthe building forthe surn of E1 peryear under a 6-yearagreement. TheTru8t18 managed entirely independently of the Parlsh Councll. ObJ8GtIvo8 and aotivities Our charity's purpose as set out in the objects contained in the Comp8nVs memorandum of 88sociation are specific8lly restricted to the following: {1} To further or benefit the residents of Bagworth and the neighbourhood. without distinction of Sex. Sexual orientation, race or of political. religious or other opinions by associating togetherthe sald residents and the locat authoTlties, voluntary and other OanIsatiOnS in a cornmon effort to advance education and to providefacilities in the interests of socialwelfarefor recreation leisure time occupation with the objective of impr¢)ving the conditions of life for the resl¢Jents. In lurtherance of these objects but not otherwise, thetrustees shall hava power: (21 To establish or securethe establishment of 8 communtycentre and to maintain or manage or co-operatewith any statutoryauthorityin the maintenance and management of such a centrefor activities promoted bythe charity in furtherance ofthe above objects. The Trust continued to make the Community Centre available for the use of villagers from Bagworth, Thoriiton, Merry L8es and the surrounding area.
Bagworth Cornmunlty Centre Trust (2013) Llmlted Report of the Trustees Forthe year ended 31" March 2024 The Trustees conttnued to promote the Centre as a venue for prlvate use with regulareditorial in the local press and on our website and social media pages. A preschool operates from the Centre, providing a popular essential service to localyoungsteis. A number of classes are held at the Community Centre by third parties including stay and play and sign language groups for young children. danclng classes for children and adutts, martial arts, drna, yoga and wellness and others. In addition. there is a regular drop-in Sociaigroup for retired people and the local branch of the Women's Institute hold their meetings at the Community Centre once a month. The H81ts are also popularwith locals wishingto hold one-off personal events. We continue to work with Forever Savvy, who provide work experience for adults with learning difficulties. They open the coffee 8hop every weekday and the number of regular customers has continued to increese. Achlev8ments and Performance Bookings hav8 continued to rl8e durlng the yesr, demonstratlng the importance of this centre to the local community. The Trust continue to control operating and administrative expense8 88 much as possible, although energy price increased end repairs and maintenance have considerably affected the business. The trustees confirm that they have pald due regard to Charity Commission guidance on public benefit in d8cidingwhat 8Ctivities to undertake. Flnan¢l8l rovlow The Trust has 8 Reserves policy in place. 'Maintenance this fund has been created to coverthe costs of redecoratlngthe Inside ofthe Centre within 5years, as required bythe buildingiease. The target for thi8 tund within that period is 85000. General the charity has acknowledged the fact that a general reserve should be held to cover unexpected expenses and cash flow timings. The gene18L reserv8 is de8m8d sufficient to cover this risk. Reservos pollcy The Trust has a Reserves pollcyln place. 'Maintenance this fund has been created to COV8rthe costs of redecoratingthe inside ofthe Centre within 5years, as required bythe buildinglease. The target for thi8 fund within that period 58 85000. General the charity has 8cknowiedged the fact that a general reserve should be held to cover unexpected expenses and cash flow tlmings. The generaL reserve is deemed sufficientto cover this fisk.
Bagworth Community Centre Trust {2013) Llmited Report of the Trustees Fortheyear ended 31" March 2024 Future developments Fundraising and funding Bagworth and Thornton Parish Council will continue to make 8 substantial contribution tOW8rds the overheads of the Centre as part ot its remit to facilitate community cohesion. The Trust has no reason to believe that Bagworth and Thornton Parish Council will not continue to contribute to the overheads of the Centre in the foreseeable future. Investment policy The Trust did not mak8 any investments over the reporting period. All funds generated are used to improvethe facillties for Centre users. Trustae8 The trustees holdingoffice duringthe whole year unless otherwlse st8ted were as follow8: RobertAu8tln steve Dowell Robert Miles Donn8-Mari8 Newman-Treasure Trustees. r88pon8ibllltle8 In relatlon totha financlal statoments Law applicable to charities in England and Wales requ5res the trustees to prepare fin8nci81 8tatements lor each financial year which give a true and fair view of the charity's financial activities duTing the year and of its financial position at the end of the yeai. In preparlng those flnancial statements, thetrustees are reouired to: select suitable accounting policies and then applythem consistently; make judgments and estimates that are reasonable and prudent; state whether applicable accounting st8ndards and Statements of recommend8d practice have b8en followed subject to any departures disclosed 8nd explained in the financl81 statements: and prepare the financial statements on the going concein b8818 unless It Is Inapproprlate to presume thgtthe charitywill continue in business. The trustee8 are responsible for keeping accounting records which disclose wtth reasonable accuracy at any time the financia( position of the charity and enable them to ensure that the financi81 st8tements comply with the Charlties Act 2011.They are also responsible for 8afeguarding the asset8 Ot the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved bythe trustees on... and signed on their behalf by Haro Corri Trustee
Independent Examlner's Report to the Trustees of Bagworth Communty Centre Trust (2013) Limited I report on the accounts of Bagworth Community Centre Trust12013) Limited for the year ended 31" March 2024. which comprise the statetnent offinanci31 activities. the balance sheet and the related notes. Respective responsibilities ottrustees and examlner The charity's trustees are responslble for the preparation of the accounts. The charitys trustees considerthat an audtt is not required forthisyear undersection 144of the Charities Act 2011 {the Charities Act) and that an independent examination is needed. It is my responsibiLityto: examine the accounts under section 145 of the Charltles Act; to follow the procedur88 l8id down In the general Directions given by the Charity Commission (under section 14515) {b) of the Ch8ritles Act); 3nd to state whether particular matters have come to my attention. Bas18 of Independent examiner'8 report My examination was carried out in accofdance with the G8neral Directions given by the Charity Commission. An ex8min8tion includes a reviewof the accountlngrecords kept bythe ch8rityand comparison oftha account8 presented with those records. It also includes conslderation of any unusual items or di8closur88 in the accounts and seeklng explanatlons from you 88 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion Is glven as to whether the accounts present a 'true and fair. vlew and the report is limited to those matters set out in the statement below. Independent examlner'8 8tatement In connection with my examlnatlon. no matter has come to my 8ttention: which gives me reasonablec8us8to believethat in anymaterlalr8spectthe requirement8 to keep accounting records in accordance with section 1300tthe 2011 Act; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirement8 of the Charities Act have not be8n met; or 2. to which, in my opinion. attention should be drawn in orderto en8b18 a proper understanding of thefinancial statementsto be r88ched. Marzena Wright 2West End Bariestone Warwickshire CV13 OEJ Date:
Bagworth Community Centre Trust {2013) Llmlted Statement of Financial Activities Fortheyear ended 31" MarGh 2024 Notes 2024 2023 Unr8Strlcted Restricted Income Donations 7,520 Income from charitable activities Total Income Expenditure Rsisingfunds 2.878 Charitable Activities Total Expenditure Net Inoomel(Expendltura) -31,628 4.271 Total Funds Brought Forward Total Funds Carrl8d Forward The notes form part of these financial statements
Bagworth Communlty Centre Trust {2013) Llmlted Balance Sheet 31° MarGh 2024 Notes 2024 2023 Fixed assets Tangible assets 2.489 3,187 Current assets Debtors Cash at bank and in hand 4.735 4.006 11,103 45,138 CrèdFtors: Amounts falling due within one year . 3.422 6,527 Net current aet¥ Total assets less Gurrent liabllltle8 Funds Unrestricted and Designated 4,370 35.998 Restricted 5,800 5,800 Approved bythe Trustees on.... ... and signed on their behalf by Har Idc Trustee The notes form part of these financial statements
Bagworth Communlty Centre Trust {2013) Limited Notes to the FinanGial Ststem8nts For the year ended 31" March 2024 1.Accountlng Pollcl8S The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice appliGableto charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16July 2014 and the Financial Reporting Standard for Smaller Entities (effective April2015). a) Accounting conventlon The financial statements are prepared under the historical cost convention. and on a going concern basis. b) Income recognltlon Income is recognised in the period towhich it relates. c) Expandlture Expenditure is accounted for as It becomes due and h8s been allocated to 8Ctivities on a basis consistentwith the use of resources. d) Tangible flxed a88ets TanglbLe flxed 888ets are stated in the balance sheet at their acqulsition c08t 188s accumulated depreciatlon. Depreclatlon Is provided on all tanglble fixed assets, to write of the cost less estimated residuaLvalue of 88ch asset over its expected useful Life as follows: - Plant and Machinery- 25% on cost Fixture and fittings- 25% on cost - Computer equipment-25¥0 on cost o) Taxatlon The activities ofthe chartyare exempt from taxation on the net Incoming resources. f) Funds Unrestricted funds are available to be used for purposes within the objects of the charity 8t the discretion of the truste8s. Restricted funds can only be used for speclllc restrlcted purposes wlthln the objects of the charity. The restrlctlons are specified by the donor or when funds are ralsed tor partlcular restricted purpo8es. 2.Donatlon- Income 2024 2023 Donatlons and Legacles 7,520
Bagworth Communlty Centre Trust {2013) Limited Notes to the Flnanclal Statements (Gontinued) Fortheyear ended 31" March 2024 3. Incomg from the charitable aGtivities: 2024 2023 Coffee Shop Room hire 3,705 3,668 4. Expenditur08 ol Charlt8ble aotivitles 2024 2023 Purchases 2,122 Electric, gas, water 24,752 6,789 Wages 15,767 11,548 Telephone 420 469 Travelling 33 Llcences and Insurance 1,178 906 Repalrs and renewals 11,528 5.727 Household and cLeanSng 3,877 4.303 Events 2,676 Software & IT 2,072 1,231 Accountancy 1,080 3,075 Subscriptions 339 865 Bad debts- 235 Bank charges 24 Depreciation 5. Staff costs W8g85 2024 2023 Wages 15.767 11,548 The average number of employees duringthe yearwas 2
Bagworth Community Centre Trust (2013) Limited Notes to the Financlal Statements (continued) Fortheyear ended 31" March 2024 6. Tangible flxed assets Plant and Machinery Fixture and fittings Computer equipment Totals COST At 1 April 2023 Additions-- At 31 March 2024 2,942 6,200 9,142 DEPRECIATION At 1 April 2023 Charge foryear- At 31 March 2024 2,942 3,013 5,955 NETBOOKVALUE At 31 March 2024- At 31 Merch 2023- 7. Debtors: Amountsfaiilng due wlthln one year 2024 2023 Trade debtors Other debtors 2,922 2,667 8. CredltOr8: Amountslalllng duewlthln one year 2024 2023 Trade creditors Taxation and social security Other creditors 1,499 26 1,676 657 9. AnalyBl$ of net a559ts arnong funds Unrestrlctad R&strlcted Total Tangible Fixed Assets Cash at bank Other current assets Current liabilities 2.489 568 4,735 2,489 6.368 4,735 5.800