||Par Bay Community Trust||
|---|---|---|
|Reference and Administrative Details|||
|Chairman|Mr D E Hughes||
|Trustees|Mrs S Tregaskes||
||Mr D E Hughes||
||Mr W R C Taylor||
||Mrs S A Clyne||
||Mr M Beer||
||Mrs E Davies||
||Mrs C Fitzpatrick||
|Charity Registration|1163601||
|Number|||
|Company Registration|09237669||
|Number|The
charity|is|
||incorporated|in|
||England.||
|Registered Ofce|Cornubia||
||31 Eastclife Road||
||Par||
||Cornwall||
||PL24 2AQ||
|Independent|Peter Williams & Co||
|Examiner|Chartered Certifed||
||Accountants||
||Latham Park||
||St Blazey Road||
||Par||
||Cornwall||
||PL24 2HY||
The trustees, who are directors for the purposes of company law, present the annual report together with the financial
Page 1
Par Bay Community Trust
## Trustees' Report
statements of the charitable company for the year ended 31 March 2023
## **Objectives, aims and activities**
PBCT runs Cornubia guided by three principles – Community, Creativity and Enterprise. These three development strands contribute to growing local well-being, growing a vibrant local economy and growing greater access to and participation in civic life.
Following a lengthy process of considering options and identifying suitable premises, Par Bay Community Trust (PBCT) purchased Cornubia Hall as a legacy vehicle for Par Bay Big Local who funded the purchase and initial renovation of the building, which was completed for service delivery in February 2018.
The building currently has five spaces for let including 2 retail spaces, all now on yearly leases. The building has two large halls, a community room and kitchen for short term let.
## **Our priority List of Activities and Community Engagement**
To continue our collaborative approach of working
To improve and develop the links with Social Subscribing To increase the health & wellbeing activities by offering appropriate facilities.
To promote opportunities to increase social interaction To promote the flexibility of the building for events/conferences etc.
To support start-ups business and explore links with local artisans etc.
To be more aware of our success
To be ready to work quickly on things needed like the Warm Hub
To be proactive in responding to local community pressures and needs
## **Our priority List of future building renovations**
Page 2
Par Bay Community Trust
Trustees' Report Entire building Replace double glazing as needed Acoustic improvements Modify for sight & hearingimpaired individuals Roof Solar panels Ground floor Lower Hall Install new fire panel Upstairs Hall Privacy screens A more Clinical Offices efficient heating system **We would like to have finished all major renovations by March 2025**
## **We hope to do this by:**
Having and keeping our 1 year’s running cost reserve fund. External funding/ grants Profit from events Donations/ gift aid
Achieving a positive cash flow with rental and room hire Developing our Trustee base
## **Public benefit**
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
**PBCT** has continued to be the “Local Trusted Organisation” in charge of the Big Local Expenditure for Par Bay Big Local but has finished the Creative Civic Change project
## : **Regular activities include**
Tai chi, Karate, Taekwondo and Judo
A range of dance classes and workshops, including ballet, sosa, hip-hop and street dance, tap, jazz, Spanish, contemporary Theatre groups and improvisation groups
Community events and meetings, car boot sales
Page 3
Par Bay Community Trust
## Trustees' Report
Mental wellbeing support groups include Knit & Natter, Canasta, creative workshops, painting workshops, computer support. The warm hub is now an addition to this, held on 3 mornings a week
## **Our 2022/23 tenants are** :
**Morva Maid** has made a success of the former shop and reception areas, showcasing and selling a wide range of local artisan work. This has transformed the reception area making an attractive, welcoming entrance with footfall increasing daily. With over 50 artisans sharing media posts this has helped to increase Cornubia’s presence online and with local residents. **“Cornwall Made”** will be taking over with the same principles of local artisans
**Under the Sun Ceramics Studio** has continued in the studio space
Gill’s pottery classes are increasingly popular -a source of mental wellbeing and entertainment as well as learning new techniques. There is a steady stream of beautiful and amusing pottery produced.
## **Three Harbours NHS Team**
Our two upstairs tenant rooms are now the home of the Social Prescribing and Diabetic teams. This link will allow us to move forwards with plans of providing support for those in isolation and depression and meetings with the social prescriber have been made.
## **Media**
Cornubia’s media profile has been raised considerably this year with almost daily requests to join the Facebook group
## **Renovation/Regularisation**
We have already saved £5,000 in electric expenses this last year by changing suppliers with careful monitoring and timing
Page 4
## Par Bay Community Trust
## Trustees' Report
the heaters: but we are very conscious of rising utility costs and continue to investigate energy-saving opportunities
## **Achievements and Performance**
All the outer walls have now been fully insulated
## **Upstairs toilets and kitchenette**
The floor level has been raised to bring them level with the hall, and the installation of a disabled toilet has made the upper floor fully accessible.
The kitchenette is used by the tenants and by parents waiting for their children attending activity sessions, taking advantage of the free wi-fi throughout the building to catch up on social media or use their laptop.
## **Downstairs**
The air conditioning has been improved
A second toilet has been installed next to the community room. The Lower Hall can be accessed directly via the rear entrance and is fully wheelchair accessible.
## **Small Meeting Room**
The office has been transformed into an accessible, welcoming space for 1-1 sessions, small group work and a space for the administrator to work.
Monthly visits from a financial advisor, energy advisor and Citizens Advice provide good support for the community
## **The Warm Hub**
The Community Room and Kitchen adjoining the lower hall is a popular spot for the recent “Warm Hub” initiative, started in autumn 2022, providing refreshments and affordable meals 3 days a week as part of its “offer”.
This is a collaborative initiative supported by:
Volunteer Cornwall NHS Cornwall Council Cornwall Energy Age UK Cornwall College Plus
Page 5
Par Bay Community Trust
Trustees' Report
Also provided are monthly advice sessions on finance, energy costs, Citizens Advice and free/affordable haircuts and chiropody trimming.
It has been a great success and is continuing until at least Easter 2024 and hopefully after that as well.
So far, the Hub is attracting the older generation and we already have a lovely core group of regulars attending, along with others who drop in and out when they are free. We’ve put out a suggestions sheet for activities to give us an idea of what people might enjoy and they requested: dancing; hand bell ringing; folk music; singing; a sound bath session; cooking demonstrations; pottery and crafts sessions.
We have our local social prescribers holding meetings here at Cornubia and directing people to the Hub too, and this will help us to reach those most isolated individuals in our community. We are in the process of arranging transport for people who might otherwise struggle to get to the Hub.
## **Food.**
Our cook is producing some wonderful meals, prepared on site, and they are going down very well. We ask for a small donation for drinks, charge £1 for soup and a roll, or £1.50 for more substantial meals such as pasta and home-made tomato sauce, stew or cottage pie.
We have started our own Community Larder with donations from a local butcher and local residents. The Co-op have set up a donation box for items for our trolley. We are running this along the same lines as our Community Garden Swap and Share
## **The Community Garden**
The established Community Garden has continued to thrive and be a popular meeting point, with activities such as Kernow Youth’s meet and greet, craft activities and pottery workshops. Donations of plants and gardening accessories have continued
Page 6
## Par Bay Community Trust
## Trustees' Report
and grown, and the ‘Swap and Share’ is a well-known and much appreciated feature for many local residents.
## **Financial review**
Income and Fundraising:
We still aim to apply for more grant aid to provide activities at a lower/free cost, but grants are difficult.
## **Funds in deficit**
We have no funds in deficit.
## **Policy on reserves**
We need to protect against loss of income, continue building renovations and running activities in Cornubia plus taking advantage of new opportunities.
We need to protect against loss of income, continue building renovations and running activities in Cornubia plus taking advantage of new opportunities.
We are very aware of rocketing utility costs and have upped our reserve
We aim to have 1 years’ worth of running costs in reserve to enable us to continue running Cornubia.
We have agreed to hold approx. £60K in reserve for this.
Our monies held are all related to Cornubia and activities within the area.
Assets
All monies are gross 1 years’ worth of running costs held in reserve £60,007.01 Working capital £51,514.82 which include: Building Upkeep £ 6999.64 Building Incidentals £ 354.00 Covid Recovery grant £ 840.24 Activities Well-being £ 4104.43 Donations Reserved £ 3155.78
Page 7
Par Bay Community Trust
||Trustees' Report||
|---|---|---|
|Community Garden|Reserved £ 2898.05||
|Building Upgrades|Restricted£14621.52||
|Historic Project|Restricted|£ 2000.00|
|Warm Hub|Restricted|£ 6751.18|
|Par Bay Big Local|Restricted£ 9789.98||
## **Structure, governance and management**
## **Nature of governing document**
The organisation is a charitable company limited by guarantee, incorporated on 26 September 2014 and registered as a charity on 16 September 2015. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
## **Recruitment and appointment of trustees**
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the number of directors shall not be less than three but shall not be subject to any maximum.
All members of the Management Committee give their time voluntarily and received no benefits from the charity.
Membership is open to other individuals who apply to the charity in the form required by the directors and are approved by the directors.
The annual report was approved by the trustees of the charity th th on October 5 or 12 and signed on its behalf by:
Page 8
Par Bay Community Trust
Trustees' Report
......................................... ................................ Ms S Tregaskes ......... Trustee Mr D E Hughes Chairman and Trustee
Page 9
Par Bay Communitv Tru$t
Trustees, Report
Community Garden Restricied £ 2.847.75
Building Upgrn(ks Reserved £14.621.52
Historic Project Reserved £ 2,OCK).LK)
Warn Hub Restricted £ 7.449.91
Por Bay Big L(Kal Reserved £ 9.875.82
Sewing Project Restricted £ 61.64
Stru¢ture* govern•n¢t #ttd m*n*zement
Nolure ofgowniln8 docunmni
The organisaiion ij a charitabl¢ company limited by guoranttt, in¢orpoTated on 26 September 2014 and
regisiered charity on 16 Sepiember 2015. The ¢ompBny was established under a Memorandum of
Associaiion which established ¢h¢ objects and power5 of the Chanble compan>. and is governed und¢r lis
Anicles of A5sociaiion. In the eveni of the companv bein8 wound up members are required to contribute an
Amount noi ex¢e¢din8 £10.
Kecrnllmeiii and ippolnthKni ofmtSfftS
The directors of the company are also chariry truStr for the purposes of charity law and under the company's
Arti¢l¢s are knowTr a5 members of the Management Committee. Under the requirements of the Memorandum
and Articles of A55OCi81ion the number of directors shall noi be less than three but shall not be subjeci io any
maximum.
All member of the Management Committee give their lime voluntarily and received no l)¢nefits from the
chariry.
Membership is open to h¢r individuals who apply io the ¢harity in the form required by the dir¢¢iors and are
approved by th¢ directors.
The annual relrt was approved by the trustees of charity on 12
r 2023 and signed on its behalf by:
Mrs S Tr¢
Trustee
Chairnian and Trnsttt
Page 7
Company registration number: 09237669 Charity registration number: 1163601
## Par Bay Community Trust
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2023
Peter Williams & Co Latham Park St Blazey Road Par Cornwall PL24 2HY
## **Par Bay Community Trust**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 7|
|Statement of Trustees' Responsibilities|8|
|Independent Examiner's Report|9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Notes to the Financial Statements|12 to 17|
## **Par Bay Community Trust**
## **Reference and Administrative Details**
**Chairman** Mr D E Hughes **Trustees** Mrs S Tregaskes Mr D E Hughes Mr W R C Taylor Mrs S A Clyne Mr M Beer Mrs E Davies Mrs C Fitzpatrick **Charity Registration Number** 1163601 **Company Registration Number** 09237669 The charity is incorporated in England. **Registered Office** Cornubia 31 Eastcliffe Road Par Cornwall PL24 2AQ **Independent Examiner** Peter Williams & Co Latham Park St Blazey Road Par Cornwall PL24 2HY
Page 1
## **Par Bay Community Trust**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2023.
## **Objectives and activities**
## _**Objects and aims**_
PBCT runs Cornubia guided by three principles – Community, Creativity and Enterprise. These three development strands contribute to growing local well-being, growing a vibrant local economy and growing greater access to and participation in civic life.
Following a lengthy process of considering options and identifying suitable premises, Par Bay Community Trust (PBCT) purchased Cornubia Hall as a legacy vehicle for Par Bay Big Local who funded the purchase and initial renovation of the building, which was completed for service delivery in February 2018.
The building currently has five spaces for let including 2 retail spaces, all now on yearly leases. The building has two large halls, a community room and kitchen for short term let.
## **Our Priority List of Activities and Community Engagement**
To continue our collaborative approach of working
To improve and develop the links with Social Subscribing
To increase the health & wellbeing activities by offering appropriate facilities.
To promote opportunities to increase social interaction
To promote the flexibility of the building for events/conferences etc.
To support start-ups business and explore links with local artisans etc.
To be more aware of our success
To be ready to work quickly on things needed like the Warm Hub
To be proactive in responding to local community pressures and needs
## **Our Priority List of future building renovations**
Entire building Replace double glazing as needed
Acoustic improvements Modify for sight & hearing-impaired individuals
Roof Solar panels
Ground floor Lower Hall Install new fire panel
Upstairs Hall Privacy screens
Clinical Offices A more efficient heating system
## **We would like to have finished all major renovations by March 2025**
## **We hope to do this by:**
Page 2
## **Par Bay Community Trust**
## **Trustees' Report**
Having and keeping our 1 year’s running cost reserve fund.
External funding/ grants
Profit from events
Donations/ gift aid
Achieving a positive cash flow with rental and room hire
Developing our Trustee base
## **Public benefit**
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
**PBCT** has continued to be the “Local Trusted Organisation” in charge of the Big Local Expenditure for Par Bay Big Local but has finished the Creative Civic Change project.
## **Regular activities include** :
Tai chi, Karate, Taekwondo and Judo
A range of dance classes and workshops, including ballet, sosa, hip-hop and street dance, tap, jazz, Spanish, contemporary
Theatre groups and improvisation groups
Community events and meetings, car boot sales
Mental wellbeing support groups include Knit & Natter, Canasta, creative workshops, painting workshops, computer support.
The warm hub is now an addition to this, held on 3 mornings a week
## **Our 2022/23 tenants are** :
**Morva Maid** has made a success of the former shop and reception areas, showcasing and selling a wide range of local artisan work. This has transformed the reception area making an attractive, welcoming entrance with footfall increasing daily. With over 50 artisans sharing media posts this has helped to increase Cornubia’s presence online and with local residents.
**“Cornwall Made”** will be taking over with the same principles of local artisans
**Under the Sun Ceramics Studio** has continued in the studio space
Gill’s pottery classes are increasingly popular -a source of mental wellbeing and entertainment as well as learning new techniques. There is a steady stream of beautiful and amusing pottery produced.
## **Three Harbours NHS Team**
Our two upstairs tenant rooms are now the home of the Social Prescribing and Diabetic teams. This link will allow us to move forwards with plans of providing support for those in isolation and depression and meetings with the social prescriber have been made.
Page 3
## **Par Bay Community Trust**
## **Trustees' Report**
## **Media**
Cornubia’s media profile has been raised considerably this year with almost daily requests to join the Facebook group
## **Renovation/Regularisation**
We have already saved £5,000 in electric expenses this last year by changing suppliers with careful monitoring and timing the heaters: but we are very conscious of rising utility costs and continue to investigate energy-saving opportunities.
Page 4
## **Par Bay Community Trust**
## **Trustees' Report**
## **Achievements and performance**
All the outer walls have now been fully insulated
## **Upstairs toilets and kitchenette**
The floor level has been raised to bring them level with the hall, and the installation of a disabled toilet has made the upper floor fully accessible.
The kitchenette is used by the tenants and by parents waiting for their children attending activity sessions, taking advantage of the free wi-fi throughout the building to catch up on social media or use their laptop.
## **Downstairs**
The air conditioning has been improved
A second toilet has been installed next to the community room.
The Lower Hall can be accessed directly via the rear entrance and is fully wheelchair accessible.
## **Small Meeting Room**
The office has been transformed into an accessible, welcoming space for 1-1 sessions, small group work and a space for the administrator to work.
Monthly visits from a financial advisor, energy advisor and Citizens Advice provide good support for the community
## **The Warm Hub**
The Community Room and Kitchen adjoining the lower hall is a popular spot for the recent “Warm Hub” initiative, started in autumn 2022, providing refreshments and affordable meals 3 days a week as part of its “offer”.
This is a collaborative initiative supported by:
Volunteer Cornwall NHS Cornwall Council Cornwall Energy Plus Age UK Cornwall College
Also provided are monthly advice sessions on finance, energy costs, Citizens Advice and free/affordable haircuts and chiropody trimming.
It has been a great success and is continuing until at least Easter 2024 and hopefully after that as well.
So far, the Hub is attracting the older generation and we already have a lovely core group of regulars attending, along with others who drop in and out when they are free. We’ve put out a suggestions sheet for activities to give us an idea of what people might enjoy and they requested: dancing; hand bell ringing; folk music; singing; a sound bath session; cooking demonstrations; pottery and crafts sessions.
We have our local social prescribers holding meetings here at Cornubia and directing people to the Hub too, and this will help us to reach those most isolated individuals in our community.
We are in the process of arranging transport for people who might otherwise struggle to get to the Hub.
Page 5
## **Par Bay Community Trust**
## **Trustees' Report**
## **Food**
Our cook is producing some wonderful meals, prepared on site, and they are going down very well. We ask for a small donation for drinks, charge £1 for soup and a roll, or £1.50 for more substantial meals such as pasta and home made tomato sauce, stew or cottage pie.
We have started our own Community Larder with donations from a local butcher and local residents. The Co Op have set up a donation box for items for our trolley. We are running this along the same lines as our Community Garden Swap and Share
## **The Community Garden**
The established Community Garden has continued to thrive and be a popular meeting point, with activities such as Kernow Youth’s meet and greet, craft activities and pottery workshops. Donations of plants and gardening accessories have continued and grown, and the ‘Swap and Share’ is a well-known and much appreciated feature for many local residents.
## **Financial review**
Income and Fundraising:
We still aim to apply for more grant aid to provide activities at a lower/free cost, but grants are difficult.
## _**Funds in deficit**_
We have no funds in deficit.
## **Policy on Reserves**
We need to protect against loss of income, continue building renovations and running activities in Cornubia plus taking advantage of new opportunities.
We are very aware of rocketing utility costs and have upped our reserve.
We aim to have 1 years’ worth of running costs in reserve to enable us to continue running Cornubia. We have agreed to hold approx. £60K in reserve for this.
Our monies held are all related to Cornubia and activities within the area.
Assets
All monies are gross
1 years’ worth of running costs held in reserve £60,007.01
Working capital £72,235.98 which include:
Building Upkeep £ 6,999.64
Building Incidentals £ 354.00
Covid Recovery grant £ 103.36
Activities Well-being Restricted £ 4,104.43
Donations Reserved £ 3,155.77
Page 6
## **Par Bay Community Trust**
## **Trustees' Report**
Community Garden Restricted £ 2,847.75
Building Upgrades Reserved £14,621.52
Historic Project Reserved £ 2,000.00
Warm Hub Restricted £ 7,449.91
Par Bay Big Local Reserved £ 9,875.82
Sewing Project Restricted £ 61.64
## **Structure, governance and management**
## _**Nature of governing document**_
The organisation is a charitable company limited by guarantee, incorporated on 26 September 2014 and registered as a charity on 16 September 2015. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
## _**Recruitment and appointment of trustees**_
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the number of directors shall not be less than three but shall not be subject to any maximum.
All member of the Management Committee give their time voluntarily and received no benefits from the charity.
Membership is open to other individuals who apply to the charity in the form required by the directors and are approved by the directors.
The annual report was approved by the trustees of the charity on 12 October 2023 and signed on its behalf by:
......................................... Mrs S Tregaskes Trustee
......................................... Mr D E Hughes Chairman and Trustee
Page 7
## **Par Bay Community Trust**
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of Par Bay Community Trust 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
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 its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 8
## **Par Bay Community Trust**
## **Independent Examiner's Report to the trustees of Par Bay Community Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also 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 Company 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 your charity’s accounts as 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 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 Par Bay Community Trust 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.
...................................... Mrs Lois Stephen Chartered Certified Accountant
Latham Park St Blazey Road Par Cornwall PL24 2HY
5 September 2023
Page 9
## **Par Bay Community Trust**
## **Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Investment income
4
Other income
5
Total income
**Expenditure on:**
Charitable activities
6
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
14
**Note**
**Income and Endowments from:**
Donations and legacies
3
Investment income
4
Other income
5
Total income
**Expenditure on:**
Charitable activities
6
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
14|**Unrestricted**
**funds**
**£**
74,748
112
46,369
121,229
(84,047)
(84,047)
37,182
(20,108)
17,074
425,550
442,624
**Unrestricted**
**funds**
**£**
63,628
3
28,276
91,907
(63,531)
(63,531)
28,376
28,376
397,173
425,549|**Restricted**
**funds**
**£**
30,029
-
382
30,411
(58,918)
(58,918)
(28,507)
20,108
(8,399)
22,863
14,464
**Restricted**
**funds**
**£**
99,524
-
215
99,739
(98,040)
(98,040)
1,699
1,699
21,164
22,863|**Total**
**2023**
**£**
104,777
112
46,751|
|---|---|---|---|
||||151,640|
||||(142,965)|
||||(142,965)|
||||8,675
-|
||||8,675
448,413|
||||457,088|
||||**Total**
**2022**
**£**
163,152
3
28,491|
||||191,646|
||||(161,571)|
||||(161,571)|
||||30,075|
||||30,075
418,337|
||||448,412|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 14.
The notes on pages 12 to 17 form an integral part of these financial statements. Page 10
## **Par Bay Community Trust**
## **(Registration number: 09237669) Balance Sheet as at 31 March 2023**
|**Note**
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
11
Cash at bank and in hand
12
**Creditors: Amounts falling due within one year**
13
**Net current assets**
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
14|**2023**
**£**
321,848
3,618
133,847
137,465
(2,225)
135,240
457,088
14,464
442,624
457,088|**2022**
**£**
321,848
1,912
125,603|
|---|---|---|
|||127,515
(951)|
|||126,564|
|||448,412|
|||22,863
425,549|
|||448,412|
For the financial year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 10 to 17 were approved by the trustees, and authorised for issue on 12 October 2023 and signed on their behalf by:
......................................... ......................................... Mrs S Tregaskes Mr D E Hughes Trustee Chairman and Trustee
The notes on pages 12 to 17 form an integral part of these financial statements. Page 11
## **Par Bay Community Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **1 Charity status**
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.
The address of its registered office is: Cornubia 31 Eastcliffe Road Par Cornwall PL24 2AQ
These financial statements were authorised for issue by the trustees on 12 October 2023.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
Par Bay Community Trust 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 notes.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Page 12
## **Par Bay Community Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## _**Grant provisions**_
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 13
## **Par Bay Community Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **3 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Grants, including capital grants;
Grants from other charities
**Total for 2023**
**Total for 2022**|**Unrestricted**
**funds**
**General**
**£**
1,402
73,346
74,748
63,628|**Restricted**
**funds**
**£**
2,513
27,516
30,029
99,524|**Total**
**funds**
**£**
3,915
100,862|
|---|---|---|---|
||||104,777|
||||163,152|
- **4 Investment income**
|**Total for 2023**
**Total for 2022**|**Unrestricted**
**funds**
**General**
**£**
-
3|**Total**
**funds**
**£**
-|
|---|---|---|
|||3|
Page 14
## **Par Bay Community Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **5 Other income**
|Rental income
**Total for 2023**
**Total for 2022**|**Unrestricted**
**funds**
**General**
**£**
24,410
24,410
23,609|**Total**
**funds**
**£**
24,410|
|---|---|---|
|||24,410|
|||23,609|
## **6 Expenditure on charitable activities**
|**Note**
Grant funding of activities
Allocated support costs
7
Governance costs
7
**Total for 2023**
**Total for 2022**|**Unrestricted**
**funds**
**General**
**£**
26,080
56,154
1,813
84,047
63,531|**Restricted**
**funds**
**£**
10,646
48,272
-
58,918
98,040|**Total**
**funds**
**£**
36,726
104,426
1,813|
|---|---|---|---|
||||142,965|
||||161,571|
**Total expenditure £**
In addition to the expenditure analysed above, there are also governance costs of £1,813 (2022 - £1,920) which relate directly to charitable activities. See note 7 for further details.
## **7 Analysis of governance and support costs**
## **Governance costs**
|Allocated support costs
**Total for 2023**
**Total for 2022**|**Unrestricted**
**funds**
**General**
**£**
1,813
1,813
1,920|**Total**
**funds**
**£**
1,813|
|---|---|---|
|||1,813|
|||1,920|
Page 15
## **Par Bay Community Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **8 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
## **9 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **10 Tangible fixed assets**
|**Cost**
At 1 April 2022
At 31 March 2023
**Depreciation**
At 31 March 2023
**Net book value**
At 31 March 2023
At 31 March 2022
**11 Debtors**
Trade debtors
Other debtors
**12 Cash and cash equivalents**
Cash on hand
Cash at bank||**Land and**
**buildings**
**£**
321,848|**Total**
**£**
321,848
321,848
-
321,848
321,848
**2022**
**£**
751
1,161|
|---|---|---|---|
|||321,848
-||
|||321,848||
|||321,848||
|||**2023**
**£**
3,618
-
3,618
**2023**
**£**
128
133,719
133,847||
||||1,912|
||||**2022**
**£**
99
125,504|
||||125,603|
## **13 Creditors: amounts falling due within one year**
Page 16
## **Par Bay Community Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
|VAT grant repayable
Other creditors
Accruals
**14 Funds**
**Unrestricted funds**
General
**Restricted funds**
**Total funds**|**Balance at 1**
**April 2022**
**£**
425,550
22,863
448,413|**Incoming**
**resources**
**£**
121,229
30,411
151,640|**Resources**
**expended**
**£**
(84,047)
(58,918)
(142,965)||**2023**
**£**
726
(1)
1,500
2,225
**Transfers**
**£**
(20,108)
20,108
-||**2022**
**£**
(550)
1
1,500|
|---|---|---|---|---|---|---|---|
||||||||951|
||||||||**Balance at**
**31 March**
**2023**
**£**
442,624
14,464|
||||||||457,088|
## **Unrestricted funds**
Page 17
## **Par Bay Community Trust**
## **Statement of Financial Activities by fund for the Year Ended 31 March 2023**
## **Unrestricted Funds**
|**Unrestricted Funds**|||
|---|---|---|
|**Income and Endowments from:**
Donations and legacies
Investment income
Other income
Total income
**Expenditure on:**
Charitable activities
Total expenditure
Net income
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**Unrestricted**
**Funds**
**2023**
**£**
74,748
112
46,369
121,229
(84,047)
(84,047)
37,182
(20,108)
17,074
425,550
442,624|**Total**
**Unrestricted**
**Funds**
**2022**
**£**
63,628
3
28,276|
|||91,907|
|||(63,531)|
|||(63,531)|
|||28,376
-|
|||28,376
397,173|
|||425,549|
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## **Par Bay Community Trust**
## **Statement of Financial Activities by fund for the Year Ended 31 March 2023**
## **Restricted Funds**
|**Restricted Funds**|||
|---|---|---|
|**Income and Endowments from:**
Donations and legacies
Other income
Total income
**Expenditure on:**
Charitable activities
Total expenditure
Net (expenditure)/income
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**Restricted**
**Funds**
**2023**
**£**
30,029
382
30,411
(58,918)
(58,918)
(28,507)
20,108
(8,399)
22,863
14,464|**Total**
**Restricted**
**Funds**
**2022**
**£**
99,524
215|
|||99,739|
|||(98,040)|
|||(98,040)|
|||1,699
-|
|||1,699
21,164|
|||22,863|
This page does not form part of the statutory financial statements. Page 19