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2023-03-31-accounts

Registered number: 08550189 Charity number: 1156826

ASHOVER COMMUNITY MEDICAL CENTRE LTD

UNAUDITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

ASHOVER COMMUNITY MEDICAL CENTRE LTD

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 16

ASHOVER COMMUNITY MEDICAL CENTRE LTD

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees Andrew S King, Treasurer
W Edward Willmot, Chairman
Jacquie W Collins, Trustee
Paul A G Winter, Trustee (resigned 11 July 2023)
D Lucy Wilson (previously D Lucy Taylor), Trustee
Company registered
number 08550189
Charity registered
number 1156826
Registered office Unit 6, The Mall
Market Street
Clay Cross
Chesterfield
Derbyshire
S45 9JE
Accountants Shorts
Chartered Accountants
2 Ashgate Road
Chesterfield
Derbyshire
S40 4AA
Bankers National Westminster Bank plc

Page 1

ASHOVER COMMUNITY MEDICAL CENTRE LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the financial statements of Ashover Community Medical Centre Ltd ("the charity" or "the company") for the year ended 31 March 2023. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

POLICIES AND OBJECTIVES

The object of the charity is to apply its income in the parish of Ashover and such surrounding districts ("the Area of Benefit") to:

"(i) relieve sickness, old age and disability of the inhabitants of the area of benefit and to establish, equip and maintain a primary care centre."

"(ii) promote for the benefit of the inhabitants of the Area of Benefit without distinction of sexual orientation, race or political, religious or other opinions, by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants."

To this end, the charity's principal activities are to support the continued existence of the primary care centre for the benefit of the local community, promote education, and provide recreational facilities. To date, these activities have focused on the following:

In planning the charity's activities, the Trustees have regard to both the Charity Commission's general guidance on public benefit and the specific objectives of the charity. Public benefit is achieved by providing a building for use both as a primary care centre and by local community groups combined with making funding available for community social and recreational activities, including the provision of capital equipment.

REVIEW OF ACTIVITIES

During the year financial support was provided for local sports £1,147 (2022: £2,654), social and recreational activities £8,673 (2022: £7,304) together with £3,010 for upgraded defibrillator cabinets and £300 towards the running of a First Aid drop in centre, allowing all members of the local community to benefit from the funds raised.

The primary care centre building continues to be available for general community purposes in addition to being used as the Ashover Medical Centre. General maintenance of the property and grounds has been carried out as necessary.

Page 2

ASHOVER COMMUNITY MEDICAL CENTRE LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023

GOING CONCERN

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

PRINCIPAL RISKS AND UNCERTAINTIES

Although Covid-19 restrictions are now minimal enabling the premises to fully function, the Trustees continue to be mindful of the need for vigilence with regard to virus containment, particularly within the environment of the primary care centre building, upgrading landlord fixtures if required.

The leasehold property continues to be let to a GP practice under a lease expiring in 2031, providing a regular quarterly income which helps to maintain liquidity.

FINANCIAL REVIEW

Although major roof repairs costing £62,000 during the year to maintain the building in a fully weatherproof condition have temporarily reduced the amount of liquid funds available the trustees anticipate being able to continue providing financial support for community activities albeit at a more reduced level for the time being.

The Trustees have reviewed the requirement for free reserves, which are those unrestricted funds not invested in fixed assets, designated for specific purposes, or otherwise committed. The Trustees consider that there should be 12-15% of the insured value of the charity's buildings. Currently, this would give a target of £75,000 to £94,000. This level of reserves is felt to be needed both to enable the Trustees to continue the current activities of the charity should there be a significant drop in the rental income and to provide an emergency repairs fund.

PLANS FOR FUTURE PERIODS

The Trustees will continue to give consideration to all requests received for funding from the local area inhabitants and hold regular meetings to enable a pipeline of approved funding requests to be maintained.

STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION

The organisation is a registered charity and a company limited by guarantee. It is governed by its articles of association dated 30 May 2013 and revised on 8 October 2013. At the year end there were 5 members (2022: 5), each of whom agrees to contribute £1 in the event of the charity winding up.

Page 3

ASHOVER COMMUNITY MEDICAL CENTRE LTD (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES

The charity's Trustees are also the company's directors. New Trustees may be appointed by either by the existing Trustees or the members by ordinary resolution.

The number of Trustees shall be not less than three. There is no maximum number.

The Trustees who served during the year are as follows:

Jacquie W Collins Andrew S King D Lucy Wilson (previously D Lucy Taylor) W Edward Willmot Paul A G Winter (resigned 11 July 2023)

TRUSTEES' INDEMNITIES

The charity maintains liability insurance for the Trustees, both as Trustees and as directors of the company, with a cover limit to each claim or series of claims against them in that capacity. The directors have also been granted a qualifying third party indemnity provision under section 234 of the Companies Act 2006. Neither the company's indemnity nor the insurance provides cover in the event of a Trustee being proved to have acted fraudulently or dishonestly.

INDEPENDENT EXAMINER

A resolution to reappoint H K Freeman as the independent examiner will be proposed at the annual general meeting.

Page 4

ASHOVER COMMUNITY MEDICAL CENTRE LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of Ashover Community Medical Centre Ltd for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and 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.

This report was approved by the Trustees, on 19 September 2023 and signed on their behalf by:

W Edward Willmot Chairman

Page 5

ASHOVER COMMUNITY MEDICAL CENTRE LTD

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ASHOVER COMMUNITY MEDICAL CENTRE LTD (the 'charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2023.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; 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 independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Dated: 19 September 2023

H K Freeman

SHORTS

Chartered Accountants 2 Ashgate Road, Chesterfield Derbyshire, S40 4AA

Page 6

ASHOVER COMMUNITY MEDICAL CENTRE LTD

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
funds
Note
2023
£
INCOME FROM:
Donations and legacies
13
Investments
29,500
TOTAL INCOME
29,513
EXPENDITURE ON:
Raising funds
2
66,284
Charitable activities
3
15,321
TOTAL EXPENDITURE
81,605
NET INCOME / (EXPENDITURE) BEFORE OTHER
RECOGNISED GAINS AND LOSSES
(52,092)
NET MOVEMENT IN FUNDS
(52,092)
RECONCILIATION OF FUNDS:
Total funds brought forward
392,422
TOTAL FUNDS CARRIED FORWARD
340,330		 Total
funds
2023
£
13
29,500
29,513
66,284
15,321
81,605
(52,092)
(52,092)
392,422
340,330		 Total
funds
2022
£
13
29,500
29,513
4,444
11,873
16,317
13,196
13,196
379,226
392,422

The notes on pages 9 to 16 form part of these financial statements.

Page 7

ASHOVER COMMUNITY MEDICAL CENTRE LTD (A company limited by guarantee) REGISTERED NUMBER: 08550189

BALANCE SHEET AS AT 31 MARCH 2023

Note
FIXED ASSETS
Tangible assets
7
Investment property
Total tangible assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
10
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Unrestricted funds
TOTAL FUNDS		 £
1,515
273,627
14,531
75,574
90,105
(24,917)		 2023
£
275,142
275,142
65,188
340,330
340,330
340,330		 £
1,480
268,127
2,299
135,250
137,549
(14,734)		 2022
£
269,607
269,607
122,815
392,422
392,422
392,422

The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the charity to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 19 September 2023 and signed on their behalf, by:

W Edward Willmot, Chairman

The notes on pages 9 to 16 form part of these financial statements.

Page 8

ASHOVER COMMUNITY MEDICAL CENTRE LTD (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Ashover Community Medical Centre Ltd 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 stated in the relevant accounting policy.

The charity qualifies as a small company under the Act and the Trustees have elected to take advantage of the exemption in the SORP from the requirement to prepare a cash flow statement.

1.2 Company status

The charity is a private company registered in England and Wales limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

1.3 Transfer from predecessor charity

All of the operations, funds, assets and liabilities of the Ashover Primary Care Centre Charitable Trust were transferred to this charity on 7 July 2014, on which date the predecessor charity was dissolved. The transfer of assets and liabilities was at their book values, but the investment property was valued as at 7 July 2014, and the surplus shown as part of the opening funds, in order to conform with the accounting policies adopted.

1.4 Income

Donations are accounted for when received. Grant and other income is recognised when the charity becomes entitled to the income. Gifts in kind are included at valuation. Investment income is accounted for on the accruals basis. The value of services provided by volunteers is excluded from the accounts as it cannot be reasonably quantified.

1.5 Expenditure

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and governance costs are costs incurred on the charity's educational and recreational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

All expenditure is accounted for on the accruals basis and is allocated to the fund to which the expenses relate. Support costs are allocated between categories of expenditures as an estimated proportion based on management time spent on each category.

Page 9

ASHOVER COMMUNITY MEDICAL CENTRE LTD (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (continued)

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are originally recorded at their cost to the charity, or, if donated, at their market value at that time.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Furniture & equipment

20% reducing balance

Investment properties are shown at their fair value and are not depreciated. The surplus or deficit arising from the annual revaluation is shown in the "gains/(losses) on investment assets" section of the Statement of Financial Activities.

1.7 Operating leases

Rentals under operating leases are charged to the Statement of Financial Activities incorporating income and expenditure account on a straight line basis over the lease term.

1.8 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.9 Taxation

In view of the company's charitable status and the application of funds generated for the pursuit of its charitable objectives, no corporation tax is payable. The charity is, however, liable to pay value added tax (VAT) on its rental income, after offsetting VAT suffered on applicable expenditure.

1.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Page 10

ASHOVER COMMUNITY MEDICAL CENTRE LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (continued)

1.11 Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgement:

Valuation of investment property

The Trustees have made key assumptions in the determination of the fair value of the investment property in respect of the state of the market in the location where the property is situated and in respect of the range of reasonable fair value estimates used.

There are no other accounting estimates or assumptions that have a significant risk of causing a material adjustment to the carrying values of any assets or liabilities within the next financial year.

2. EXPENDITURE ON RAISING FUNDS

Unrestricted
funds
2023
£
Rent
1,420
Repairs and maintenance
1,300
Utilities and cleaning
250
Insurance
408
Governance costs see note 4
906
Major roof repairs
62,000
66,284
Total 2022
4,444		 Total
funds
2022
£
1,420
1,079
250
413
1,282
-
4,444

Page 11

(A company limited by guarantee)

ASHOVER COMMUNITY MEDICAL CENTRE LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3. EXPENDITURE ON CHARITABLE ACTIVITIES

Funding provided for local sports and social events:
Ashover Football Club
Ashover Junior Football Club
Ashover Cricket Club
Ashover Lunch Club
Ashover Brownies and Ashover Rangers
Cycle Rack
Parish Party
Christmas Events
Woolley Show
Senior Citizens
Jubilee Events
Defibrillator Cabinets
Uppertown Social Centre
First Aid Drop In Centre
Ashover Produce Club
Ashover Art Group
May Day Carnival
Other:
Depreciation of Care Centre furniture and equipment
Governance costs - see note 4

Total		 2023
£
647
-
500
2,000
196
-
151
700
-
-
2,062
3,010
2,090
300
100
300
1,074
379
1,812

15,321		 2022
£
671
983
500
1,900
350
500
1,289
700
600
2,465
-
-
-
-
-
-
-
448
1,467
11,873

The 2023 and 2022 expenditure on charitable activities was all in relation to unrestricted funds.

4.

GOVERNANCE COSTS

Accountancy and independent examiner's fee
Legal and professional fees
Companies House fees
Trustees' liability insurance
Other

Total		 2023
£
1,625
160
13
859
61

2,718		 2022
£
1,250
620
13
466
400
2,749

Governance costs are allocated between the expenditure on raising funds (2023: £906 2022: £1,282) and expenditure on charitable activities (2023: £1,812 2022: £1,467). Costs which cannot be directly attributed to a particular category of expenditure are allocated as to raising funds one third and charitable activities two thirds.

Page 12

ASHOVER COMMUNITY MEDICAL CENTRE LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. NET INCOME/(EXPENDITURE)

This is stated after charging:

2023 2022
£ £
Depreciation of tangible fixed assets:
- owned by the charity 379 448

No remuneration or reimbursed expenses were paid during the year to any of the Trustees or persons connected with them (2022: £nil).

The charity employs no staff and no amounts are included in the accounts in respect of services donated by volunteers.

6. INDEPENDENT EXAMINER'S REMUNERATION

The Independent Examiner's remuneration amounts to an Independent Examination fee of £900 (2022: £750), and preparation of financial statements and other services of £725 (2022: £500).

Page 13

ASHOVER COMMUNITY MEDICAL CENTRE LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Cost
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Furniture &
equipment
£
8,725
414
9,139
7,245
379
7,624
1,515
1,480

The furniture and equipment is provided for Ashover Medical Centre which is used for direct charitable purposes.

Page 14

(A company limited by guarantee)

ASHOVER COMMUNITY MEDICAL CENTRE LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. INVESTMENT PROPERTY

Valuation
At 1 April 2022
Additions at cost
At 31 March 2023		 Leasehold
investment
property
£
268,127
5,500
273,627

The land is held on two 96 year leases, terminating on 11 July 2100, from Ashover Parish Council. The building is let for the majority of the time as a medical practice which is on a 15 year lease expiring July 2031. The building is also available for uses in connection with local social and sporting events, for which a nominal charge is currently made. Despite this, the primary use of the building is to raise income for the charity and so it is classed as an investment property in accordance with the provisions of the SORP.

The property was valued, on an open market basis, by the Trustees, after taking appropriate professional advice, at £245,000 as at 7 July 2014, being the date of its acquisition from the predecessor charity. In the opinion of the Trustees there has been no appreciable change to the fair value between then and the balance sheet date. The original cost of the building was £231,594 and improvements were made to the property during the 2020/21 financial year costing £23,127. Further improvements were made of £5,500 during the 2022/23 financial year.

9. DEBTORS

Prepayments
Accrued income		 2023
£
943
13,588
14,531		 2022
£
2,299
-
2,299

10. CREDITORS: Amounts falling due within one year

Trade creditors
Other taxation and social security
Deferred income
Accruals		 2023
£
13,588
1,377
6,808
3,144
24,917		 2022
£
-
1,290
6,808
6,636
14,734

Page 15

ASHOVER COMMUNITY MEDICAL CENTRE LTD (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11. OPERATING LEASE COMMITMENTS

At 31 March 2023, the charity had a total commitment to pay £7,498 (2022: £8,918) under operating leases for land which expire more than five years after the balance sheet date.

12. RELATED PARTY TRANSACTIONS

No (2022: none) transactions were undertaken with related parties, including businesses or other parties connected to any of the Trustees. Trustees are specifically excluded from discussions of matters that might give rise to conflicts of interest.

13. FUNDS

There are no restricted funds.

The unrestricted income fund is available to be utilised at the Trustees' discretion in furtherance of the charity's objectives.

Page 16