REGISTERED COMPANY NUMBER: 08878132 (England and Wales)
REGISTERED CHARITY NUMBER: 1161410
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022
FOR
SUDBURY GASWORKS RESTORATION TRUST LTD
Brookes Stephens
New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ
SUDBURY GASWORKS RESTORATION TRUST LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022
|
Page |
Reference and Administrative Details |
1 |
Report of the Trustees |
2 to 4 |
Independent Examiner's Report |
5 |
Statement of Financial Activities |
6 |
Balance Sheet |
7 to 8 |
Notes to the Financial Statements |
9 to 15 |
Detailed Statement of Financial Activities |
16 to 17 |
SUDBURY GASWORKS RESTORATION TRUST LTD
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 28 FEBRUARY 2022
TRUSTEES |
Mr B Bozier |
|
Ms A M Massey Fryer |
|
Mr T Harvey |
|
Ms G A Prew |
|
Mr T Webber |
|
Mrs J White |
|
Ms K M Filby (appointed 10.3.2021) |
|
Mr J Bozier (appointed 1.9.2021) |
|
Miss L A Baggott |
REGISTERED OFFICE |
Dovebank House |
|
Sudbury |
|
Ashbourne |
|
Derbyshire |
|
DE6 5HR |
REGISTERED COMPANY NUMBER |
08878132 (England and Wales) |
REGISTERED CHARITY NUMBER |
1161410 |
INDEPENDENT EXAMINER |
Brookes Stephens |
|
New Media House |
|
Davidson Road |
|
Lichfield |
|
Staffordshire |
|
WS14 9DZ |
-1-
SUDBURY GASWORKS RESTORATION TRUST LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended28February2022.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
2021 to 2022 saw the trust have to applyfor an upliftin grant award from the NationalLotteryHeritageFund due to a
riseininflationcausedbytheCovid19Pandemic.Thisapplicationwassuccessfulandisnowenablingthe Trust’s
objectivestobe realisedandtheGasworksbuildingtobe renovatedforthegoodof Sudbury,itsinhabitantsand the
nation.
OBJECTIVES AND ACTIVITIES
Objectives and aims
To preserve and restore Sudbury Gasworks for the benefit of the people of Sudbury Parish, Derbyshire and the Nation.
Preserving the historical, architectural and constructional heritage of the gasworks and its environment.
Topromotethehistorical,architecturalandconstructionalheritageoftheGasworksforthebenefitofthepeople of
Sudbury Parish, Derbyshire and the Nation.
Public benefit
The Trustees have had regard to the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The main outcomes delivered by the Trust have been to:
Completethedevelopmentphaseoftheproject.Themajorityofthisworkhasbeenmanagedbyour contracted
Project Manager, Lucy Godfrey.
Agrantupliftwasappliedforandawardedonthe21stFebruary2022for£219,500.Thistookthetotalgrant award
from the NationalLotteryHeritageFund to £1,377,800meaningthat buildingworks are able to start and that inflation
of material costs could be taken into account following delays due to The Covid 19 pandemic.
Finalisation and agreement on the design between all stakeholders.
Updating our business plan.
Updating the capital Cost Plan for the project delivery based on a fixed price tender.
MaintainingthesupportfromfunderstoadequatelymatchthefundssoughtfromtheHeritageFund,despite delays
in the delivery phase project start date.
Maintaining support from the Landlord, Sudbury Estate and The National Trust.
Delivering on the development phase activity plan.
Variation in the planning consent in our favour and completion of the pre-construction surveys.
-2-
SUDBURY GASWORKS RESTORATION TRUST LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022
ACHIEVEMENT AND PERFORMANCE Fundraising activities
Community Fund Raising:
Our Fund-RaisingCommitteehave been very active,with events during2021. Communityfundraisingis important not
only becauseof the essentialfunds raised,but becauseit symboliseslocal supportfor the Trust. It has been a triumph
of our fundraising team that we have met our targets during the 2021 following the pandemic.
Fundraising from third parties:
FundswereappliedforandawardedbyTheLotteryCommunityfundtohelpputonalargevillageeventfor the
queens Jubilee in order to raise the profile of the gasworks within the local parish.
FINANCIAL REVIEW
Financial position
Income: Over financial year to February 2022 decreased to: £100,477
Expenditure: increased at: £41,503
Reserves: Increased at: £164,891
Principal funding sources
TheNationalLotteryHeritageFund,TheVernonCharitableTrust,SudburyParishRoomCommittee,The Coop
Foundation,SudburyParishCouncil,HeritageCompass,The LotteryCommunityFundandrepresentativesof the local
and wider communities who have supported our fundraising efforts.
Reserves policy
Withmostfundspledgedtoourcharitablegoalsbeingrestrictedtospecificprojectdelivery,ourpolicyisto build
reservesthroughcommunityfundraisingtomeetthecostsofrunningthecompanyandmatch-funding and
seed-funding our project development.
FUTURE PLANS
2021 has been gettingbackto businessfollowingthe Covid-19pandemic.We go forwardwithbuildingworks starting
early2022tohopefullycompleteintheSpringof2023.Thebusinessplancannowstarttobeimplemented and
bookings for future hire taken.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.
Governing document: Articles of Association, dated 15 March 2015.
Constitution: Private Company limited by guarantee. Company number 08878132
Organisational structure
Theadvancementofthecompany'sobjectivesiscarriedout,day-to-daybytheprojectmanager,contractedto carry
out this work under the direction of the Board of Directors.
-3-
SUDBURY GASWORKS RESTORATION TRUST LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
Trusteesaredirectorsofthecompanyandelectedfrommembersofthecompany.Theremustbeatleast3and no
more than 12 trustees. No individual may be appointed as trustee unless willing to act as Charity Trustee.
Persons disqualified from acting as trustees are defined in clause 14.7 of the company's articles of association.
TrusteesareusuallyelectedattheAGM bya ballotof members.Trusteesmayco-opta suitablyqualifiedmember to
fill a vacancy; such co-opted trustees to hold office until the next AGM.
Atrusteemustdeclarethenatureandextentofanyinterest,directorindirect,whichtheyhaveinthe proposed
workings of the charity.
This reporthas been preparedin accordancewith the specialprovisionsof Part 15 of the CompaniesAct 2006 relating
to small companies.
Approved by order of the board of trustees on 1 August 2022 and signed on its behalf by:
Mrs J White - Trustee
-4-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SUDBURY GASWORKS RESTORATION TRUST LTD
Independent examiner's report to the trustees of Sudbury Gasworks Restoration Trust Ltd ('the Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
28 February 2022.
Responsibilities and basis of report
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company 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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Leon Stephens
FCA
Brookes Stephens
New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ
1 August 2022
-5-
SUDBURY GASWORKS RESTORATION TRUST LTD
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2022
Unrestricted
fund
Notes
£
Income and endowments from
Donations and legacies
2
1,763
Other trading activities
3
8,051
Investment income
4
5,864
Total
15,678
Expenditure on
Raising funds
4,003
Charitable activities
Charitable
6,333
Total
10,336
NET INCOME
5,342
Reconciliation of funds
Total funds brought forward
8,734
Total funds carried forward
14,076 |
Restricted
fund
£
84,799
-
-
84,799
8,235
22,932
31,167
53,632
97,183
150,815 |
2022
Total
funds
£
86,562
8,051
5,864
100,477
12,238
29,265
41,503
58,974
105,917
164,891 |
2021
Total
funds
£
97,798
6,878
- |
|
|
|
104,676
984
6,797 |
|
|
|
7,781 |
|
|
|
96,895
9,022 |
|
|
|
105,917 |
The notes form part of these financial statements
-6-
SUDBURY GASWORKS RESTORATION TRUST LTD
BALANCE SHEET 28 FEBRUARY 2022
Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Prepayments and accrued income
Cash at bank and in hand
Creditors
Amounts falling due within one year
11
Net current assets
Total assets less current liabilities
Creditors
Amounts falling due after more than one year
12
NET ASSETS
Funds
15
Unrestricted funds:
General fund
Restricted funds:
Restricted
Total funds |
2022
£
101,091
4,066
5,806
106,815
116,687
(6,685)
110,002
211,093
(46,202)
164,891
14,076
150,815
164,891 |
2021
£
66,860
3,799
139
38,901
42,839
(3,782)
39,057
105,917
-
105,917
8,734
97,183
105,917 |
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 28 February 2022.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
28 February 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
-7-
SUDBURY GASWORKS RESTORATION TRUST LTD
BALANCE SHEET - continued 28 FEBRUARY 2022
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies
subject to the small companies regime.
The financialstatementswere approvedby the Board of Trustees and authorisedfor issue on 1 August2022 and were
signed on its behalf by:
Mrs J White - Trustee
The notes form part of these financial statements
-8-
SUDBURY GASWORKS RESTORATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trusteeshave confidencethatthe charityhas adequateresourcesto continuein operationalexistence for
the foreseeablefuture.Thusthe charitycontinuesto adoptthe goingconcernbasisin preparingthe financial
statements. The financial statements are prepared in sterling, which is the functional currency of the charity.
The charityis a private companylimited by guaranteeand has no share capital.The liabilityof each member in
the event of winding up is £10.
The country of incorporation and the registered office address are both detailed in the Report of the Trustees.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Raising funds
Raising funds comprise of the costs associated with attracting voluntary income.
Tangible fixed assets
Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful
life.
Long leasehold
- Over 99 years
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
continued...
-9-
SUDBURY GASWORKS RESTORATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayableto the
charitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesintheperiod to
which they relate.
2. DONATIONS AND LEGACIES
Donations
Grants
Grants received, included in the above, are as follows:
Garfield Weston Grant
Pilgrims Trust
Co-op Grant
Lottery Community Grant
AFIAC
Heritage Compass
Heritage Fund
Other grants
3.
OTHER TRADING ACTIVITIES
Fundraising events
4.
INVESTMENT INCOME
Deposit account interest |
2022
£
1,763
84,799
86,562
2022
£
-
-
10,000
9,985
6,472
2,500
54,842
1,000
84,799
2022
£
8,051
2022
£
5,864 |
2021
£
-
97,798 |
|
|
97,798 |
|
|
2021
£
30,001
7,191
-
-
-
-
60,606
- |
|
|
97,798 |
|
|
2021
£
6,878
2021
£
- |
continued...
-10-
SUDBURY GASWORKS RESTORATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2022 |
2021 |
|
£ |
£ |
Depreciation - owned assets |
1,170 |
682 |
6. TRUSTEES' REMUNERATION AND BENEFITS
Therewere no trustees'remunerationor otherbenefitsforthe yearended28 February2022norforthe year
ended 28 February 2021.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended28February2022norfortheyear ended
28 February 2021.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
Income and endowments from
Donations and legacies
-
Other trading activities
6,878
Total
6,878
Expenditure on
Raising funds
984
Charitable activities
Charitable
6,115
Total
7,099
NET INCOME/(EXPENDITURE)
(221)
Reconciliation of funds
Total funds brought forward
8,955
Total funds carried forward
8,734 |
Restricted
fund
£
97,798
-
97,798
-
682
682
97,116
67
97,183 |
Total
funds
£
97,798
6,878 |
|
|
104,676
984
6,797 |
|
|
7,781 |
|
|
96,895
9,022 |
|
|
105,917 |
continued...
-11-
SUDBURY GASWORKS RESTORATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
8. AVERAGE NUMBER OF EMPLOYEES
The average number of employees in the year was 2 (2020 nil).
9. TANGIBLE FIXED ASSETS
COST
At 1 March 2021
Additions
At 28 February 2022
DEPRECIATION
At 1 March 2021
Charge for year
At 28 February 2022
NET BOOK VALUE
At 28 February 2022
At 28 February 2021 |
Long
leasehold
£
67,542
34,875
102,417
682
1,038
1,720
100,697
66,860 |
Plant and
machinery
£
-
287
287
-
72
72
215
- |
Computer
equipment
£
-
239
239
-
60
60
179
- |
Totals
£
67,542
35,401 |
|
|
|
|
102,943 |
|
|
|
|
682
1,170 |
|
|
|
|
1,852 |
|
|
|
|
101,091 |
|
|
|
|
66,860 |
TheleaseholdadditionsrepresentworkcarriedouttotheSudburyGasworkswhichisownedbythe Sudbury
Estate.
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
VAT |
2022
£
-
4,066
4,066 |
2021
£
117
3,682 |
|
|
3,799 |
continued...
-12-
SUDBURY GASWORKS RESTORATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 13)
13.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due between two and five years:
Bank loans - 2-5 years
14.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
fund
fund
£
£
Fixed assets
394
100,697
Current assets
66,569
50,118
Current liabilities
(6,685)
-
Long term liabilities
(46,202)
-
14,076
150,815 |
2022
£
4,098
388
199
2,000
6,685
2022
£
46,202
2022
£
46,202
2022
Total
funds
£
101,091
116,687
(6,685)
(46,202)
164,891 |
|
|
|
|
continued...
-13-
SUDBURY GASWORKS RESTORATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
15. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS |
At 1.3.21
£
8,734
97,183
105,917
Incoming
resources
£
15,678
84,799
100,477
At 1.3.20
£
8,955
67
9,022 |
Net
movement
At
in funds
28.2.22
£
£
5,342
14,076
53,632
150,815
58,974
164,891
Resources
Movement
expended
in funds
£
£
(10,336)
5,342
(31,167)
53,632
(41,503)
58,974
Net
movement
At
in funds
28.2.21
£
£
(221)
8,734
97,116
97,183
96,895
105,917 |
|
|
|
continued...
-14-
SUDBURY GASWORKS RESTORATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS |
Incoming
resources
£
6,878
97,798
104,676 |
Resources
Movement
expended
in funds
£
£
(7,099)
(221)
(682)
97,116
(7,781)
96,895 |
|
|
|
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2022.
17. INDEPENDENT EXAMINERS' REMUNERATION
TotalamountspayabletotheIndependentExaminerfortheexaminationoftheaccountswas£2,000 (2021
£1,000).
-15-
SUDBURY GASWORKS RESTORATION TRUST LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2022
Income and endowments
Donations and legacies
Donations
Grants
Other trading activities
Fundraising events
Investment income
Deposit account interest
Total incoming resources
Expenditure
Raising donations and legacies
Fundraising expenditure
Other trading activities
Room hire
Subcontractors
Charitable activities
Wages
Social security
Pensions
Insurance
Postage and stationery
Sundries
Accounting
Subscriptions
Bank charges
Legal & Professional
Irrecoverable VAT
Website costs |
2022
£
1,763
84,799
86,562
8,051
5,864
100,477
3,993
10
8,235
8,245
19,799
31
455
946
132
709
1,800
841
129
13
511
663
26,029 |
2021
£
-
97,798 |
|
|
97,798
6,878
- |
|
|
104,676
822
80
82 |
|
|
162
1,415
-
-
151
43
209
1,200
194
80
2,823
-
- |
|
|
6,115 |
Support costs
This page does not form part of the statutory financial statements
-16-
SUDBURY GASWORKS RESTORATION TRUST LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2022
Support costs
Management
Long leasehold
Plant and machinery
Computer equipment
Governance costs
Loan
Total resources expended
Net income |
2022
£
1,038
72
60
1,170
2,066
41,503
58,974 |
2021
£
682
-
- |
|
|
682
- |
|
|
7,781 |
|
|
96,895 |
This page does not form part of the statutory financial statements
-17-