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2023-03-31-accounts

Kingstrust Network CIO

Charity No: 1161181

KINGSTRUST NETWORK CIO

FINANCIAL STATEMENTS

Year ended 31 MARCH 2023

PHOENIX ACCOUNTANCY AND BUSINESS CONSULTANCY LIMITED

Kingstrust Network CIO

Contents to the Financial Statements For the year ended 31 March 2023

Page
Trustees Annual Report 3
Independent Examiners’ Report 9
Receipts and Payments Account 10
Statement of Assets and Liabilities 11
Notes to the Financial Statements 12

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Kingstrust Network CIO

Charity No: 1161181

Trustees Annual Report For the year ending 31 March 2023

The Trustees present their report with the financial statements of the charity for the year ending 31 March 2023.

Reference and Administrative Details of the Charity, its Trustees and Advisers

Name of charity:

Kingstrust Network CIO

Charity Registration Number: 1161181 Principal Operating Address: 104 Queen Street Withernsea East Yorkshire HU19 2HB

Trustees:

Names of trustees who served during the year and since the year end up to the signing of this report were as follows:

Annette Jarvis Chairperson Re-appointed 15/01/2022 Timothy Jarvis Treasurer Re-appointed 15/01/2022 Mike Hardy Re-appointed 22/12/2022 Jorrell Meade Re-appointed 22/12/2022 David West Appointed 02/02/2021 Roger Anderson Appointed 29/10/2022 Roger Main Appointed 29/10/2022 Belinda Ives Appointed 29/10/2022

Professional Advisors:

Accountant: Rebecca Triffitt, MAAT
Practice Accountant, Employee of
Phoenix Accountancy and Business Consultancy Ltd
Morley’s Cottage
Morley’s Yard
Walkergate
Beverley
HU17 9BY
Solicitors Anthony Collins Solicitors
134 Edmund Street
Birmingham
B3 2ES

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Kingstrust Network CIO

Charity No: 1161181

Trustees Annual Report For the year ending 31 March 2023

Professional Advisors (continued):

Bankers HSBC 3-4 Jameson Street Hull HU1 3JX

Structure, Governance and Management

Governing Document

Kingstrust Network CIO is a registered charity governed by its Constitution adopted on 7 April 2015.

Recruitment and appointment of Trustees

The Trustees form the Executive Committee of the charity. The members of the Executive Committee are elected at the Annual General Meeting by the members of the Charity, and usually serve for a three year term. All members are circulated with invitations to nominate Trustees in advance of the AGM. There is a provision for the co-option of additional Trustees if required.

The Constitution states that the number of trustees must not be less than three but shall not be subject to any maximum.

Trustee Induction and Training

New trustees are required to undergo induction training, provided by the other trustees or suitable persons. Ideally, the induction includes a discussion about the role and responsibilities of trustees, the activities, aims and objectives of the charity, the structure of the organisation, board of trustees, general procedures of the organisation. New trustees are introduced to members of staff and other trustees, and are provided with the Charity Commissions ‘Roles and Responsibilities of Trustees’, the Constitution, the latest statutory financial statements, Annual Report and copies of the minutes and management reports provided to the board of trustees. Any additional training required by the new trustees will be identified during induction, and may be requested at any point by new and existing trustees, where it is considered useful to their role as trustee.

Organisational Structure

The board of trustees manages the Charity, and aims to consider only strategic decisions at its meetings. Trustees are aware that any conflict of interest is declared and minuted. The board meets quarterly and occasionally on other occasions as required.

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Kingstrust Network CIO

Charity No: 1161181

Trustees Annual Report For the year ending 31 March 2023

Objectives and Activities

The objects of the charity as set out in the Constitution are:

Main objective for current year 2022/23:

The charity runs the Gateway Community Care Hub in Withernsea as its main vehicle for delivering its charitable objectives.

We intended to strengthen the services provided by the Gateway Community Care Hub increasing the numbers of local people using the hub. We set out to complement our healthy eating club by adding the Gateway Growing project designed to grow vegetables for our teaching kitchen. We believe education and training is one of the answers to breaking the link between poverty and poor health. We want to teach growing, cooking and healthy eating skills as a holistic solution.

Activities in 2022/23:

Our existing services (as follows) were maintained and increased:

We also continue to deliver donated furniture and white goods to those in need.

We continued our healthy eating and cooking training classes in our community kitchen for another year. We weren’t able to add the Gateway Growing project as originally intended due to the late arrival of the funding from 2-Ridings GVC. By the time funding arrived the spring planting season was over and our area was in the grip of a drought with a hose-pipe ban.

We donated 105 Christmas hampers to local families in need. An annual service we have performed every Christmas since 2013.

The charity also organised another coast-to-coast cycle challenge fundraiser during July 2022. This was the charity’s 9[th] cycle challenge and fundraiser.

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Kingstrust Network CIO

Charity No: 1161181

Trustees Annual Report For the year ending 31 March 2023

Main objectives for the following year 2023/24:

In developing the main objectives for the following year the Trustees have given regard to the Charity Commission guidance on public benefit.

The trustees are continuing the charity’s activities in and around our Withernsea hub as in previous years. They have agreed with the Landlord to renew the rental agreement on the hub premises in Withernsea for another 3 years.

The main task for 2023/24 is to continue to expand the activities of the Gateway Community Care Hub in Withernsea. We planned to start the delayed “Gateway Growing” project in the back yard of the hub, growing healthy vegetables for our kitchen. We succeeded in constructing the growers and operating the project in the spring and summer of 2023.

The cost-of-living crisis continues to hit our impoverished community disproportionately. We will continue to provide food parcels, Christmas hampers and a warm space during the winter for those in our community who badly need this help.

We will continue to meet the charity’s financial needs from:

Kingstrust aims to help people have a better quality of life, one that's stable and meaningful. Relieving poverty is much more than just handing out food, clothing and furniture. It’s about changing poverty mindsets; in education, in healthy living and eating. We will continue to work to do just this as well as helping local residents in any way we can.

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Kingstrust Network CIO

Charity No: 1161181

Trustees Annual Report For the year ending 31 March 2023

Financial Review

Reserves Policy

The charity aims to keep six month’s core running costs in the unrestricted general fund in line with current Charities Commission advice. In addition the charity aims to keep an additional £5,000 in the unrestricted general fund to cover dilapidations at their premises in Withernsea (as required by the rental agreement), and other unbudgeted emergencies.

These provisions will ensure a sufficient buffer to enable effective financial decision-making, rather than short term decisions. The trustees will continue to maintain this buffer in the future by looking at all suitable fund raising activities.

Plans for Future periods

Please see main objectives for the following year.

Statement of disclosure of information to Independent Examiner

We, the trustees of the Charity who held office at the date of approval of these financial statements, each confirm so far as we are aware, that:

Statement of Trustees’s responsibilities

Charity law requires the Trustees to prepare financial statements for each financial year. The Charity has elected to prepare its accounts on the Receipts and Payments basis in line with the Charities Act 2011 which allows non-company charities with an income of less than £250,000 to prepare their accounts on this basis.

The Trustees confirm that the accounts comply with the above requirements. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Kingstrust Network CIO

Charity No: 1161181

Trustees Annual Report For the year ending 31 March 2023

Independent Examiner

A resolution to appoint Independent Examiner’s, Phoenix Accountancy and Business Consultancy Limited will be proposed at the forthcoming annual general meeting.

By order of the Board

Annette Jarvis Chairperson

Date:

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Kingstrust Network CIO

Charity No: 1161181

Independent Examiner’s Report to the Members of Kingstrust Network CIO

I report on the accounts of Kingstrust Network CIO for the year ended 31 March 2023, which are set out on pages 10 to 14.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the 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 given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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

Rebecca Triffitt, MAAT

Practice Accountant

Employee of Phoenix Accountancy and Business Services Limited Morley’s Cottage, Morley’s Yard, Walkergate Beverley, East Yorkshire, HU17 9BY Date:

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Kingstrust Network CIO

Charity No: 1161181

Receipts and Payments Account For the year ended 31 March 2023

Notes
RECEIPTS
1
Sales
Donations
Fundraising
Grants
2
Rental Income
Interest
PAYMENTS
Staffing Costs
3 & 6
Rent, Rates & Bond
Utilities
Insurance
Professional Fees/Licences
Travel Expenses
Goods for Resale (and commission)
Other Shop Running Costs
Christmas Hampers
Other Charitable Expenses
Office Costs
Maintenance and Refurbishment
Motor Running Cost
Charitable Donations
Surplus/(Deficit) for the year
Trustee Loan repayment
6
Trustee Loans
6
Net Surplus/(Deficit)
Funds Transfer
Cash & Bank Balances brought forward
Cash and Bank Balances carried forward		 2023
2023
2023
2022
2022
2022
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
£
£
£
£
£
£
4,724
-
4,724
6,883
-
6,883
5,317
-
5,317
10,390
-
10,390
3,744
-
3,744
440
-
440
3,000
18,921
21,921
-
8,553
9,003
-
-
-
716
-
716
59
-
59
2
-
2
16,844
18,921
35,765
18,431
8,553
26,984
5,001
9,677
14,678
6,892
4,594
11,486
5,031
2,427
7,458
9,527
600
10,127
-
1,945
1,945
668
1,028
1,696
345
345
690
743
-
743
806
188
994
992
-
992
312
775
1,087
671
388
1,059
-
-
-
52
-
52
137
-
137
340
-
340
4,045
-
4,045
1,987
296
2,283
663
158
821
332
1,250
1,582
142
-
142
359
14
373
1,034
1,428
2,462
5,530
1,702
7,232
1,255
512
1,767
1,436
438
1,874
-
-
-
-
-
-
18,771
17,455
36,226
29,529
10,310
39,839
(1,927)
1,466
(461)
(11,098)
(1,757)
(12,855)
-
-
-
-
-
-
-
-
-
179
-
179
(1,927)
1,466
(461)
(10,919)
(1,757)
(12,676)
6
(6)
-
(24)
24
-
16,028
6
16,034
26,971
1,739
28,710
14,107
1,466
15,573
16,028
6
16,034

10

The notes on page 12-14 form part of these financial statements.

Kingstrust Network CIO

Charity No: 1161181

Statement of Assets and Liabilities As at 31 March 2023

Notes
Monetary Assets
HSBC– Current Account
HSBC– Savings Account
Cash in hand
Total Monetary Assets
Comprising:
Unrestricted Funds
Restricted Funds
4
Non Monetary Assets and Liabilities
Fixed Assets for the Charity's use (at cost)
Computer Equipment
CCTV
Van
Mobile Phones
Vacuum - Henry
Large Storage Cupboard
3 Sofas & 6 Chairs
Freezer
Microwave
ThinkPad - Lenovo
Creditors
Commission Payable
Trustees Loans/Outstanding Expenses
6
Accounts Fee
Pension – Nest		 2023
2022
£
£
1,290
2,610
14,273
13,214
10
210
15,573
16,034
14,107
16,028
1,466
6
15,573
16,034
148
148
66
66
1,750
1,750
360
360
129
129
300
300
945
945
389
-
191
-
170
170
4,448
3,868
(34)
(34)
-
(179)
(360)
(360)
(62)
(103)
(456)
(676)

These financial statements were approved by the committee on ______ and signed on its behalf by:

_____Annette Jarvis, Chairperson _____Timothy Jarvis, Treasurer

The notes on page 12-14 form part of these financial statements.

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Kingstrust Network CIO

Charity No: 1161181

Notes to the Financial Statements For the year ended 31 March 2023

Notes 1 Basis of Preparation

These accounts have been prepared on a receipts and payments (R&P) basis in line with charity commission guidance for a charity of this size.

The comparative figures relate to the year ending 31 March 2022.

2
Grants
Roos Wind Farm Community
Benefit Fund
East Riding of Yorkshire
Council – Warm Spaces
Two Ridings Community
Foundation - Cost of living
Two Ridings Community
Foundation - Bettys & Taylor
Two Ridings Community
Foundation - Gateway
Community Care Hub
The National Lottery
Community Fund
East Riding of Yorkshire
Council - DIFEY		 2023
2023
2023
2022
Unrestricted
Restricted
Total
Total
£
£
£
£
-
-
-
2,366
-
1,223
1,223
-
3,000
2,000
5,000
-
-
-
-
5,000
-
5,000
5,000
-
-
9,511
9,511
-
-
1,187
1,187
1,187
3,000
18,921
21,921
8,553

3 Staffing Costs

Staffing Costs

2023 2022
£ £
14,678 11,486
14,678 11,486

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Kingstrust Network CIO

Charity No: 1161181

Notes to the Financial Statements For the year ended 31 March 2023

4
Restricted Funds
Opening Transfers Closing
Balance at Receipts Payments Between Balance at
01/04/22 Funds 31/03/23
£ £ £ £ £
Two Ridings Community
Foundation - 7,000 (5,447) - 1,553
East Riding of Yorkshire –
Warm Spaces - 1,223 (1,310) - (87)
Roos Windfarm Fund 6 - - (6) -
Do It 4 East Yorkshire - 1,187 (1,187) - -
National Lottery - 9,511 (9,511)
6 18,921 (17,455) (6) 1,466

A brief description of the restricted funds are shown below:

Two Ridings Community Foundation

A restricted grant of £5,000 was received from Two Ridings Community Foundation as part of the Gateway Community Care Hub. This grant is help set a vegetable garden at the Withernsea premises. (£494 left to spend during 23/24)

A restricted grant of £2,000 was received from Two Ridings Community Foundation as part of the Cost of living grant, these funds are to be used to help to pay towards the heating bills. (£1,059 left to spend during 23/24)

National Lottery Community Foundation

A restricted grant of £9,511 was received from the National Lottery Community Fund to help towards general running costs of the charity.

Roos Windfarm Fund

A restricted grant of £2,366 was received from the Roos Windfarm Fund to help with running costs. The balance of £6.00 was transferred to unrestricted funding.

Do it 4 East Yorkshire (DIFEY)

A restricted grant of £1,187 was received from the East Riding of Yorkshire to fund furniture, storage cupboards and refreshments to the elderly.

Warm Spaces

A restricted grant of £1,223 was received from the East Riding of Yorkshire to fund heating & refreshments to the elderly. Another payment is due in 23/24.

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Kingstrust Network CIO

Charity No: 1161181

Notes to the Financial Statements For the year ended 31 March 2023

5 Taxation

The Charitable Incorporated Organisation (CIO) is a registered charity, registration number 1161181. All the CIO’s income is applied to its charitable objectives and the Charity is therefore exempt under current legislation from most forms of taxation.

6 Trustee Remuneration/Related Party Transactions

Tim Jarvis has purchased goods £2.98 (2022: £179) for the Charity which he is due to be reimbursed for. Also Tim Jarvis, Treasurer is the husband of Annette Jarvis the Chair.

Mike Hardy was reimbursed £25.65 towards his travel expenses in 2022/23. There were no other reimbursement of travel expenses to Trustees paid during the year or in the prior year

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