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2024-03-31-accounts

Kingstrust Network CIO

Charity No: 1161181

‘

KINGSTRUST NETWORK CIO

FINANCIAL STATEMENTS

Year ended

31 MARCH 2024

PHOENIX ACCOUNTANCY AND BUSINESS CONSULTANCY LIMITED

Kingstrust Network CIO

Contents to the Financial Statements For the year ended 31 March 2024

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 2024

The Trustees present their report with the financial statements of the charity for the year ending 31 March 2024.

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 Resigned 27/01/2024 Jorrell Meade Re-appointed 22/12/2022 David West Re-appointed 14/09/2024 Roger Anderson Resigned 08/10/2024 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 2024

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 2024

Objectives and Activities

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

Main objective for current year 2023/24:

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

We intended to maintain and strengthen the services provided by the Gateway Community Care Hub in Withernsea, increasing the numbers of local people using the hub. We are always looking to do more, but we need leaders and volunteers to come forward in order to do so.

Activities in 2023/24:

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

We also continue to deliver donated furniture and white goods to those in need, collecting the same as donations from the local community using our own delivery van.

We donated 55 Christmas hampers and 152 Christmas gifts 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 2023. This was the charity’s 9[th] cycle challenge and fundraiser.

Due to the loss of competent cookery teachers we had to suspend our training in healthy living, eating and cooking. For the same reason we had to stop work on our “Gateway Growing” project. We are actively looking for new teachers and leaders and hope to relaunch these activities because 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.

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Kingstrust Network CIO

Trustees Annual Report For the year ending 31 March 2024

We renewed our lease on the hub buildings for a further 3 years from 14 April 2024.

Main objectives for the following year 2024/25:

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.

The main task for 2023/24 is to continue to maintain the activities of the Gateway Community Care Hub in Withernsea. We plan to restart the our “Gateway Growing” project in March 2025. The project operates out of the back yard of the hub, growing healthy vegetables for our kitchen. We badly need a volunteer leader for this project and we need new volunteer cookery teachers in order to resume our healthy living and cooking classes.

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:

We are finding obtaining grant funding harder this year than ever before with more refusals that in previous years (usually without any reason being given). We find that other charities we know are having similar problems. This is a major challenge for the coming year.

Kingstrust Mission Statement:

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 2024

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 2024

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 2024, 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 2024

Notes
RECEIPTS
1
Sales
Donations
Fundraising
Grants
2
Interest
PAYMENTS
Staffing Costs
3 & 6
Rent, Rates & Bond
Utilities
Insurance
Professional Fees/Licences
Travel Expenses
Volunteer Costs
Other Shop Running Costs
Christmas Hampers
Other Charitable Expenses
Office Costs
Maintenance and Refurbishment
Motor Running Cost
Bank Charges
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		 2024
2024
2024
2023
2023
2023
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
£
£
£
£
£
£
4,813
-
4,813
4,724
-
4,724
3,274
-
3,274
5,317
-
5,317
4,992
-
4,992
3,744
-
3,744
6,000
28,403
34,403
3,000
18,921
21,921
408
-
408
59
-
59
19,487
28,403
47,890
16,844
18,921
35,765
3,093
14,229
17,322
5,001
9,677
14,678
1,435
5,765
7,200
5,031
2,427
7,458
-
3,221
3,221
-
1,945
1,945
46
783
829
345
345
690
-
460
460
806
188
994
-
271
271
312
775
1,087
-
756
756
-
-
-
-
82
82
137
-
137
426
1,094
1,520
4,045
-
4,045
-
225
225
663
158
821
-
394
394
142
-
142
-
460
460
1,034
1,428
2,462
-
954
954
1,255
512
1,767
76
29
105
-
-
-
5,076
28,723
33,799
18,771
17,455
36,226
14,411
(320)
14,091
(1,927)
1,466
(461)
-
-
-
-
-
-
-
-
-
-
-
-
14,411
(320)
14,091
(1,927)
1,466
(461)
494
(494)
-
6
(6)
-
14,107
1,466
15,573
16,028
6
16,034
29,012
652
29,664
14,107
1,466
15,573

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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 2024

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
Printer
Laptop
ThinkPad - Lenovo
Creditors
Commission Payable
Trustees Loans/Outstanding Expenses
6
Accounts Fee
Pension - Nest		 2024
2023
£
£
1,467
1,290
28,197
14,273
-
10
29,664
15,573
29,012
14,107
652
1,466
29,664
15,573
-
148
-
66
1,750
1,750
-
360
129
129
300
300
945
945
389
389
191
191
120
-
125
-
170
170
4,119
4,448
-
(34)
-
-
(360)
(360)
(62)
(62)
(422)
(456)

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 2024

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 2023.

2 Grants

Roos Wind Farm
Community Benefit
Fund
East Riding of
Yorkshire Council –
Warm Spaces
Two Ridings
Community
Foundation - Cost of
living
Tesco –
Groundworks
Trusthouse
Charitable
Foundation
Garfield Weston
Foundation
Allen Lane
Foundation
Two Ridings
Community
Foundation -
Gateway Community
Care Hub
The National Lottery
Community Fund
East Riding of
Yorkshire Council -
DIFEY		 2024
2024
2024
2023
2023
2023
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
£
£
£
£
£
£
-
2,742
2,742
-
-
-
- 405 405
- 1,223
1,223
-
-
- 3,000 2,000
5,000
- 500 500
-
-
-
-
10,000
10,000
-
-
-
-
5,000
5,000
-
-
-
6,000
-
6,000
-
-
-
-
-
-
- 5,000 5,000
-
9,756
9,756
-
9,511
9,511
-
-
-
- 1,187 1,187
6,000
28,403
34,403
3,000
18,921
21,921

3 Staffing Costs

Staffing Costs 2024
£
2023
£
17,322
14,678
17,322
14,678

Notes to the Financial Statements

12

Kingstrust Network CIO

For the year ended 31 March 2024

4
Restricted Funds
Opening Transfers Closing
Balance at Receipts Payments Between Balance at
01/04/23 Funds 31/03/24
£ £ £ £ £
Two Ridings Community
Foundation 1,553 - (1,059) (494) -
East Riding of Yorkshire –
Warm Spaces (87) 405 (318) - -
Roos Windfarm Fund - 2,742 (2,742) - -
Trusthouse Charitable - 10,000 (10,000) - -
Foundation
Tesco - Groundworks - 500 (500) - -
Garfield Weston Foundation - 5,000 (4,454) - 546
National Lottery - 9,756 (9,650) - 106
1,466 28,403 (28,723) (494) 652

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 transferred to unrestricted funds, confirmed in writing by Two Ridings we can do so)

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 £9,756 was received from the National Lottery Community Fund to help towards general running costs of the charity.

Roos Windfarm Fund

A restricted grant of £2,742 was received from the Roos Windfarm Fund to help with running costs.

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 for £405.

Trusthouse Charitable Foundation

A restricted grant of £10,000 was received from the Trusthouse Charitable Foundation to help with charities core running costs.

Garfield Weston Foundation

A restricted grant of £5,000 was received from the Garfield Weston Foundation to help with charities core running costs.

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Kingstrust Network CIO

Charity No: 1161181

Notes to the Financial Statements For the year ended 31 March 2024

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 £33.58 (2023: £3) 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 £0 (2023: £25.65) towards his travel expenses.

There were no other reimbursement of travel expenses to Trustees paid during the year or in the prior year

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