Company regisiraiion number: 092i7669 Charity registrdtion Trumber.. 1163601 Par Bay Community Trust IA company limited by guarantee) Annual Report and Financial Siaiemenis for Ihe Year Ended 31 March 20?4 Peter William5 & Co l.athatn Park Si Blazey Road Par Cornwall PL?4 ?HY Par Ba). Community Trust Contents Reference and Adminisirative Deiails Tru￿ee5, Report 2to9 Staiemeni of Trustees, Respo]L8Ébiliti¢$ 10 Independent Examinerfs Report Statement of Financial Aciivities 12to 13 Balance Sh¢¢t 14 Notes to ihe Financial Statements 1Sto20 Par Bay Community Trust Reference and Administrative Details Chairma Mr D E Hughes Trustees Mrs S Tregaskes Mr D E Hughes Mr W R C Taylor Mr5 S A Clyne Mrs E Davies Mrs C Fiizpairick 1163601 Charity Registrntion Number Company Rcgi51ratiov Numbtr 09237669 The ¢hariiy is in¢orporaied in England. Cornubia 31 Ea51cliffe Road Par Cornwall PL?4 2AQ Pel¢T Williaims & Co LathaiT) Park St Blazey Road Par Cornwall PL24 2HY Register￿ Offic Independent F.xamincr Page I Par Bay Community Trust Trustees, Report Tl)e ti'ustccs, wlio 8r¢ directors foi th¥ puwcs of cotnpany law. pr¢s¢ni Ilie atlnual report togetlier with the financial 5tat¢m¢nts of the charitable company for Ihe ytrdr ended 31 March 2024. Objectives and activities ObJeLIIve5, slralegie5 uc¢iw-lies PBCT run5 Comubia guided by ihree principles Community. Creativity and EnierpT15e. These three dcvelopineni sirdnds coniribuie to ¥rowing local well-bein& growing a vibrani local economy and growing reater ac¢¢s5 to and participaiion irb civic life. rollowin&r a lengtihy process of con$idering oplioT15 and identifying 5Ultabl¢ pr¢mi5¢s. Par Bay Coinrnunity Trusi (PBCTI purchased Comubia Hall as a lebTracy vehicle for Par Bay Big Local who fijnded the pur¢liase and initial r¢novaiion of the buildin& which was completed for service delivery in February 2018. The building currently has five Spaces for lei including 2 rethil spa¢¢s. all now on yearly leases. The building has two lar￿¢ ha115. a communiiy room and kitchen for short term Id. Our prlorl¢y List of Activities and Communliy Engagemeni To continue our collaborative approach of working To improve and develop the links with Social Subscribin8 To increase th¢ h¢alih & wellbeing activities by olTering appropriaie faciliiie5. To promote opportunities to increase social inieTaciion To prornole the flexibiliiy of ihe building for even1￿conferenCeS etc. To support siart-ups b￿lnesS and explore links with local artisans eic. To be more aware of our success To be ready to work quickly on things needed like the Warni Hub To be proactive in responding to I￿87 ¢ommurtity pressures and needs Our priority List of future building renovations Due 10 5ucces5ful grani app5ication5 made in the previous year. the majority of these will be install¢d in 2024120?5 Entire bliildinb Replace double glazing as needed A¢ou5tic improvements Lower hall Sound dampening Heatingl power installation of solar panels and batteries Upstairs Hall Privacy screens We would Ilke to have finished all major renovations by March 2025 Wc hope to do thls by: Having and keeping our l year's running cost reserve fund. Page 2 Par Bay Community Trust Tru5tees' Report Extcrnal flindin￿ grants Prgfit from events Donationsl gift aid Achievins a positiv¢ cash flow with rtntol and r¢)om hir¢ Developinbp our Trusiee base Publie benefit Tli¢ trusiees confimi that Ihey have complied wilh the requiremenis of seciion 17 of rhe Cliarit1¢5 Act ?01 I to h1( ve due resard io ihe public benefii guidance published by ihe ChaTity Conimission for EngTland and Wales. PRCT hcls Stopped beins the "Local Trusied Orsanisaiion" in chargie of ilic Big Local Expendiiure for Par Bay Bib Loc media posis rhis has helped io increase Cornubia's presence online and with local re5idenlS. Undcr ihc Surt C¢r8ml¢s Siudlo has coniinued in the studio space Gill's pottery ¢lasses are in¢rea%inkly populur .u sourcc ol. menial wellbcinb> and enienainmeni as well as Icarnin8 new Icchniqu¢s. Th¢r¢ is a 51cady stream of beauliful and amusing pollery produced. Three H#rbours NHS Te#m Oiir two Iip5tc1ir$ tenant rooms aTe now the home of ihe Soci¥41 Prescribing and Diab¢tL¢ team5. Thi5 link has Ilowcd us 10 move forwards with plans of providing support for those in isolation and depression artd Imeetin￿Tr5 with the social pre%riber have been made. The lower hall, upper hall. sm411 meeting room wnd Community room are #ll avallable for rent Regular aclivilie5 include.. Tai chi, Karate, Taekwondo and Judo A rang>e ol. dance classe5 and workshops, including ballel. 505a, hip-hop and street dance, tap. jazz, Spanish, coniemporary Theatre groups and improvisation groups Community evenis and mee(ings. car E4x)i sales Mental wellbeing support groups include Knit & Nailer. Canasia. creaiive work5hop& painiing Workshops. colmputer support. The warni hub. organise by the Trust. coniinues as an addition to this. held on 3 morning5 a week Page 3 Par Bay Communit), Trust Trustees, Report The Warm Hub Lstablished in November 2022, Ihrough an initiative of Cornwall Council, Comwall Voluniary Service and the NHS, our aim is io ta¢kl¢ i501ation and healih Ihrough companionship, healthy living. and coinmunity suppon. Our w¢ll-¢stablislied pallem for ihe week is always evolving as new opportutLit1¢5 or needs arise. We work in collabor3tion wirh many other agencies including CRCC. Gateway. Voluntcer Cornwall, Local NHS Team, Adlllt Social Care, Hou5in& Employmeni. FinanciailBenefiisIGranis Digital Together: support otTered by CRCC is now a monihly session providing vital knowledge on using sinart pl)one5. tabl¢t5 apps eic.. Messenger groups have been sei up so ihai people can kc¢p touch wlien ihey are at home and provide companionship apd even play online games. The transport group now uses WhaigApp 10 k¢¢p in touch with each orher and confiden¢¢ is growing rdpidly. In ihese limc5 when Doctors. appoiniinents need lo be made online and many other 85P￿tS of our lif¢ depend on intemei access, they provide viial support. Foot¢are: W¢ have added visiis from our fooicare lady. Michelle. who now ha$ ) regular six weekly bookin slot with u5 wheTe She provides our allendees wilh fooi¢are ai a discounted price. She wa5 fully booked aglain tliis Inonih and those who had appoinimenis w¢re very ple85¢d with ihe work she did on their feet. Her next visit is already fully booked too. Page 4 Par Bay Community Trnst Truslees, Report Achievements lind performanee Financial Advice.. Our financial advisor. Kerry. coniinucs to cary out her monihly visit, covering free advice rcgiardin& ihingTS like will WTiting.' estate planning.. managing energ), bills- loan applieaiions eic. she also very kindly pops in for one-to-one sessions in (he in(eriin, and does free liomc visits. should iinyone link¢d 10 ihe Hub n¢¢d them. She told us "li feels like the aciivity is building now l atn starting to become knowi as the 'lady who visits Cornubia" and this is great because it means ihar she is getting paid work from the PL?4 eon)muniiy as & result of th¢ voluntary work she covers io us and our attendees a¢ the Hub. Age UK.. Free electric blankeis. glove& rugs and other useful supplies were provided by Age UK and much appreciaied. Thcy also run wellbeing sessions like Step inio Wellness in ihe Community Room and support the Cominunity Minibu5 which we have used 10 brinu people io and from ihe Hub. Soci¥l prescrSber.' we aTe in close contact wilh Ihe Frailty Team and Heidi. our Social Prescriber often accoinpi1niL's Iier clienis on their fir51 V15il. We have a number of people aiiending who have specific necd5. facili¥ health challcn&tcs such as Parkinson's dis¢a5e. demeniia. or recovering froim a stroke. These conditiuns can olTren be qiiit¢ 1501aiinby so w¢ iry io subtly seal Ihese individuals alongside oihers whom we fe¢1 Ini&ihi have positiv¢ inflii¥nc¢ on ihem. All new arrivals comineni on ihe welcoming aimosph¢re and how lovelv the people aTe. l)&in clinic: a bbroup has been started by the Social Prescribing ¢eom io help pain management. l ¢iiglii Cornw#ll.. a receni fascinaiing? talk wa5 extremely infomaiiv¢ with insi&>h( inio all rhe u5elul aid5 for those with lailins? sighi. We aim to keep in touch and mount a displa>. of aids for ihose who are hard ol'l)eai'ing. Mciil4: 21134 frLshly ccKiked. affordable mea15 were Served over ih¢ pasi year. We are braieful for the back-up of cal¥rir Muliolm I larris who sieppLd in when our cook. LoTrain¢. w&% ill. He coniinucs io provide a larsie weekly pol on Friday5 as our numbers often exceed forty. We also order delicious pasii¢s troin a fonner cook al fowey 8Lliool. For some. our meals are th¢ only hoi food (hey will eai duriiig ih¢ day. We ran also provid¢ a meal to iakL home and heat up ihe nexi day. A dona(¢d air fryer has been a great boon. Volunleers: 2,27S.S volunteer hours Oiir volunteers are crucial in the Tunning of our Hub:. someone to keep an eye out for anyone who might be Sillins? on Iheir own or needingv ¢h¢¢rinb7 up. help put oui tables and chaiTS. lift OUT spirits witli niusic or transport those who can no longer dTive are Nppre¢iat¢d so very much. Activities PuT.zles.'_ crossword puzzles, wordsearche& word wheels. sudoku are very popular and keep our milld5 active. Chalrobi£s has ￿en very popular as it is designed specifically for our group. 15 niinute5 of bFentle 5tr¢tchinb to Iiiusic. scaled on a Ghair. 15 just PErfrtt to ease limbs (hai are siitT. One recent arrival with a paiiiful back wl)o lias blin usin&T 8 PU51ichair to help her iyalk was ama£ed io find she could walk unaided aft¢T Hayley'5 S¢55ion and rang? lo ask us to thank Hayley. She came ihis week withoui ihe pushchair. The ncw sturdy chairs we purchased have bttn much appreciaied as ihey are comfortable and steady Quiz.. In addiiion 10 a physical workoul. the weekly quiz also stretches our memory banks a5 well as all the pllzzle5 and w'ordsearches available. Fecl Good Friday- 15 the mosi popular day of ihe ivc¢k with volunt¢er mu5iC141ll5 who ctsme and play. The l.owcr I lall 15 alive with everyone singing along or shaking rattling and tapping our colleciion of bamboo pcroussion insirumenis. Those who have losi iheir short-i¢rrn memory can Still remember ihe words of old songs trom the 50s and 60s. A lady of 90 is a regular perfornier on the keyboard. Page 5 Par Bay Community Trust Trustees, Report Books.. Our book wall now has exrra shelves to house the multitud¢ of reading Inat¢rial that lias been so very kindly donated to us. They are all free for people to tak-e hol￿e. and they usually repay us by bringing in other books so the 5h¢lves are constanily updaied which is gr¢at. It'5 8 v¢ry w¢ll-used feature of the Hub. Funding: we have appreciated funding from NHS/Volunteer Cornwall. Ihe Rowse Family Trust and the National Loitery Community Or8anisati0Ths Cosi of Living Fund as well as from our local parish councils, the Coop and A5da plus donaiions from local support¢rs. Our rnusicians have been inspired to put on fund.raising contert5 to 5UPPOrt the Hub and our Cornubia Fair-now on¢¢ a monih will have a Hub table io suppon ihe Hub. Oiir thanks must go to Activities Coordinator. Jayne. who complete5 a brilliani monihl)I report io Volunt¢¢r Cornwall who coordinate all the Hub5 in th¢ County. Bill Davies. our Communily Maker, 15 always full of praise lor her reports. He also loves io pay a visit on Fridays avd frcqucntly comments on the 'abundance ol. kindness ond community spirii" in ihe room. She also produces ihe wondcTful blo¥ on our Facebook pagie and Ihe colourful posters advenising our aciivilies and support scssions. hEps:Ilwww.fa¢ebook.¢omlgroup￿¢omVbIawarn)hub The Community Garden The esiablished Coinmunity Garden has continued to thriv¢ and be a popular meeting point, with aciiviiies happeninbj re￿￿1￿rIy. Donations of plant5 and gardening accessories have ¢oniinu¢d and bjrown, and the 'Swap and Share. 1$ a w¢ll-known and much appreciaied feaLure for many lo¢al residenis. The Hi5torlc Project The I'rust were awarded £2K io put on a display re old anifactslphoiographs many historic photographs and inforniation of Par and Si Blazey that had been donoted to the Trust were curated. 'rhi5 PL24 area is of &reat inierest due to the industrie5 that have been here. including mining and shipbuildin which then led to the arrival of ihe railways, and a150 many shops and associated businesses. The whole collection has been digilalized as a way of conserving them for futur¢ g¢nerat10115 will be seen on local websites et¢. in the future Everythin&? was then prin(ed out and displayed to be used at 2 exhibilions that were held in (he PL24 area. Tliese were a great success wilh & large attendance at each event. More information and more photou>raphs were also donated. Renovatlon/Upgrade$ We have achieved less renovations this year whilsi waiting to see what granE applicarions were successful. Oue electrical pane15 have been upgraded The heating in lh¢ Clinical rooms has been up&>rdded. Door5 have been changed and generdl decordting and repairs have bttn compleied. The COCL grant enabled us to purchase more chairs and tables. And pay some of utility bi115 Several new outdoor signage was installed Page 6 Par Bay Community Trust Trustees, Report Financial review Fiiiifl.I lil defiL'II We liav¢ no lllnds in deficit. Incom¢ and fuftdraisinb: We siill aim to apply for more grani aid to provide athiviiies ar a lowerlfree ¢ost. but grnnis are ditTicuIt. We have revi¢w¢d our headings within our accounts and will be ¢hanbving them as ai April 20?4. Thi5 15 because som¢ were us¢d as headings re grdnis b>iven and are now fini5h¢d. Ai Ihe same lime. we review￿ our running costs reserve and will change it in the new financial year. Policy on reserves WL need to protect against loss of in¢om¢. Continue with building renovalion$ and running> activities in Cornubia pILlS iakingi advantabie of new opportunilies. Wc are very aw8r¢ of the rockelin&J ulility C051S WL aim to have l years, worth of running ¢osts in reserve io enable us to continue rnnning Comubia. W¢ have continued io ab>ree io hold approx. £60K in reserve for ihis. Our monies held are all related io Cornubia and aeiiviiies within ihe area. Assets We have an upio4ate rc¥isier of assets owned by Ihe Trust Wc have a ¢urren( accouni and a 5aving5 account lo ¢#piialise on interest. Our monles were split into ihe folltswlng funds All lunds a5 groEs 85 &t end of M&reh 2024 Buildinbi Upkeep £ 5.754.68 Buildinb Incidenlals £ 519.50 BuildinbT Upbjrades £ 2.370.86 Activities Well-bein8 Resiri¢ted £ 4.104.43 Donations £ 850.00 Community Garden Reserved £ 2,807.25 Hi5tori¢ Project £ 1.459.66 Wann Hub Restricted £27.508.88 Par BAY Bis Local Restricied £ 0.00 Page 7 Par Bydy Community Trust Trustees, Report Row5¢ fund ResificiLd £15.000.00 COCL gront funds Reserved £ 0.00 Manager's ￿nd £10.000.00 General Funds £20,846.17 Saving5 Ac¢ouni l year's worth of running cosis £60.754.40 We made some decisions io chang¢ / deleie heading iiiles and ihis will take place from April 2024 as some of th¢5¢ headings were hisiori¢al because of now finished grani$. Future Headings Finished COCL PBBL Stxying Community CJaTden Reserved Hi51oric Project Resiricied Warm Hub Reslricted Rowse fund Restrieied General Funds l year's worth of running costs Changing We have amalgamAied the 3 building fvnds inio"Buildings Upkeep" Activities and Fundraising have been put into gener41 funds Ncw A m8nagers role fund A Lift replacement fund Structure? governance and management Nrtlure fJfxoveriiliiK dociinieni The orbwanisation is a ¢haritsble company limited by guardntee. incorporaied on 26 Sepiember 2014 and rebwistered as a charity on 16 September 2015. The cornpany was esiablished under a Memgrpnduin of Association whi¢h established ihe objects and powers of the charitable company and is govemed under its Articles of Association. In ihe event of the company being wound up Membe￿ are required to contribute an amount noi exceedin¥ £ l O. Ret'rnlimieiii uiid uppoiiilmeiil of irtssie Page 8 Par Bay Community Trust Trustees, Report The direcioTS of the company are also charity Irusiees for rhe PUTP05es of Charity law and under the company's Anicles are known a5 tnetnbeTS of the Manayemeni Commillee. Under the requirements of the Memorandum and Articles of A550ciation the number of direciors shall noi be le55 than three but shall not be subjecr to any maximum. All member of th¢ Management Committee give their tim¢ voluniarily and received no benefits frorn th¢ Meii)bersliip is open io oiher individuals who apply to the chariiy in ihe forni required by th¢ direetors and are approv¢d by the directors. SMMII companie5 provlslon $iaitment 1.his report has been prepared in accordance with ihe small companie5 regime under the Companies Aci 2006. The annual report wa5 approved by the tru*e¢s of lh¢ chari Ociober ?024 and sib¥ned on ils behalf by.. Mrs S .1 re]AskL Trustee r D f Hughes Chaimian and Trusttt Page 9 Par Bay Community Trnst Statement of Trustees, ResponsibililA¢S Tlie tru5t¢es (who ar¢ also thc dir¢ctors of Par Bay Cojninuiiity Trusi for Ule purposes of eompany lawl are responsible for prcparing the iru5tees' report and th¢ finan¢ial statements in accordance with applicable law 2nd United Kingdom Accounting Siandards (United Kingdotn G¢n¢rJll)' Accepted Accounting Practice). includiiig FRS 10? 'The Financial Reporting Siandaid applicable iv the UK and Republic of Ireland" The report and EILcounts have been prepared in accordance wkih th¢ provi5ion5 in rhe Companies Act 2006 relaiin¥ tts small compani¢5. Coinpany law requires the trustees io preFore financial siaiemenis for each financial y¢8r. Under coimpany law the irustces musi not appmve the fiTtan¢ial siaiemenis unless ihey are saiisfied thai they s?ive a tnje and fair view of the stale of affairs of the charitable company and of ihe incoming resources and application of r¢sources. inLliidin&T it5 income and expenditure, of the charitable company for ihai period. In preparing ihese financial statements. Ihe trustees are required to.. select suirabl¢ ac¢ountin& wTrlicies and apply ih¢m consis¢¢nily: observe ihe methods and prin¢iple5 in the Charicies SORP: make judgements and esiimaies that are reasonable and p￿den1' state whether applicable accounting sthndards. eomprisirtg FRS 10? have been followed, subject to any mai¢rial departures disclosed and explained in the financial staiernents,. and prLpare ihe financial siaiemenis on th¢ gToing concern basis uThless li is inappropriate to presume that the eharitable company will coniinue in business. The irusiees are responsible for keepin8 proper accouniing records ihat can disclose with reosonable accuracy at any lime the financial position of the charithble company and enable (hem to ensure that the financial staleinen15 comply with the Companies Aci 2006. They are also responsible for safegTuarding ihe asset5 of the cliariiable company and hence for taking reasonable steps for ihe prevention and deiection of fraud and other irregularilie5. The tr115tees aTe Tesponsible for the maintenance and iniegriiy of the ¢ory)orate and financial inforrnation inLliided on th¢ chariiablc company's website. Legislaiion goveminb the preparaiion w)d dis5¢mination of rinancial 51atemenis may ditT¢r from legislation in oiher jurisdiciions. Page 10 Par Bay Community Trust Independent Examiner's Report to the trustees of Par Bay Community Trust {'the Companv,) I report to the ¢harity irusiees on my examination of lh¢ ac¢ounts of the Company for the year eftded 31 March ?0?4. Responsibilities and basis of report A8 the ch￿￿rIty,￿ trugtees of ihc Company land also its directors for the pury)05es of Company law) you are rLsponsible for the PTepardlion of the accounts in accordance with the requireTnents of the Companies Aci 2006 I'the ?006 Act.). I lavinb) satislied Inyself that ¢hc accounis of the Company are not r¢quir¢d to be audiied under Part 16 of the 2006 Acr and are eligiible for ind¢p¢nd¢ni examinaiion. I report in r¢sp¢ct of my examinaiion of y(Trur charity's accoiints a5 ¢arried out under section 145 of ihe Choriiies Act ?01 I I'ihe ?01 l Aci'}. In ¢arryinbT out my eiainination I have lollowed the Direciions given by ihe Chority Commission under section 14515Xbl of the ?01 l Aci. Independent txaminer's $t¥temtni I hEiV¥ ¢oinplelLd i)iy Lxaminaiion. I confirn) that no matters have come io my attenlion in conne¢tion with (lie examination bjiving me cause to believe.. accountin& re¢ords were noi kept in respecl of Par Bay Communiry TNst as required by se¢tion 386 of ilie ?006 A¢1: or 2. the accounis do nol a¢¢ord with ihose records: or 3. the ELCeOLinis do noi comply wilh Ihe accountinbt rcquircments of scction 396 of the ?006 Aci other Ihan any rLqiiiremeni tha¢ the accoun15 give h 'iru¢ and fair view, which is noi a maii¢r considered as part ol-an independeni examination- or 4. the accounts have not been prepared in accordance with Ihe meihods and principles of thc Siai¢iiiLiiI of RecominLndcd Pra¢ti¢¢ for accounting and reporting by ¢harilies lapplicable io charities PTcparing ih¢ir accoiints in accordance with the Financial Reponing Standord applicable in the UK and Republic of Ireland IFRS 10211. I havc no concerns and have come acr055 no other maiiets in connection with thc examination 10 which aitcniion should be drawn in this report in order to enabl¢ a proper undersianding of the accounts 10 be reached. Mrs Lois St¢ph¢n Cliartered Certified Accouniani l.atham Park Si Blazey Road Par Cornwall PL?4 2HY Date.. Page 11 Par Bay Community Trust Statement of Financial Activities for the Year Ended 31 Mareh 2024 (Including Income and Expenditure Account and Statement of Total Re¢ogni5ed Gains and L055es) Vnre5tricted funds Re51ricted Total 2024 Note Income and Endowrnents from: Donations aiid legacics Investment income Oiher income 46J34 640 35,1S6 59,995 106.329 640 40.992 5.836 Total income 82.130 65,831 147.961 Expenditure on: Charitable activiiies (84.6011 145,813) (130,414) 'rotal expenditure Nei lexpendiiureyincom¢ Transl¢rs beiween funds (84.6011 145.813) (130.414} 12.4711 (14.938) 20.018 14.938 17,547 Nei mov¢meni in funds (17.409) 34.956 17,547 ReconcillAtlon of funds 'I'olal funds broubJl)t forward Total funds carried forward 442.624 14.464 457.088 14 425.?15 Unrt5trieted funds 49.4?0 Rt5trtcted funds 474.635 Total 2023 Note Income And Endowmtnt5 from: Donations and le¥acies IiiveslmLnt income Other income 74,748 30,029 104.777 46.369 382 46.751 'I'otal income 121.229 30.411 151,640 F.xpenditure on.. (84.0471 158.918 142.965 Total expenditure (84.047 158.918) {142.965) Net incomel(expenditUTe) Transf¢r5 between funds 37.182 120,108) 128,507) 20.108 8,675 N¢t movement in funds 17.074 18.399) 8,675 Reconciliation of funds Total fllnds brotsght forward Total funds carried forward 425,550 448.413 14 44?.6?4 14.464 457.088 All of the charity'5 aciiviiies derive from continuing op¢rd¢ioiis during Ihe above Iwo period5. The notes on pages 15 10 20 forni an integral part of these financial statements. Page 12 Par Bay Communitv Trust Stalement of Financial Aetivities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) I'he fund5 breakdown for 20?) is shown in Note 14. The notes on pages 15 10 20 forni an iniegral part of these financial sratements. Page 13 Par Bay Community Trust (Registration number: 09237669) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets Current asset5 Dcbiors Cash ai bank and in hand 10 321.848 321,848 1,497 152 ?81 3,618 133.847 12 15i.778 137.465 Creditors: Amounts falling due within one year 13 1991 (2.225 Net ¢urr¢nl 4sscI$ 15? 787 l j5?40 Net #ssets 474.635 457.088 Funds ofthe eharlty: Rcslricted income funds Resiri¢t¢d fuiids 49,420 14.464 Unrestricted income fund$ UnrL51rict¢d lunds 425.21 S 442.624 Total funds 14 474.633 457.088 ror ihe financial year cnding 31 March 20?4 the chariiy was entitled io exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have nol required the charity to obtain an audit of its accounts for the year in question in accordance with section 476.. and The direciors a¢knowledge therr responsibilities for complying with ihe requirernents of the Act wilh respect to accountin¥ record5 and the pr¢paratiort of a¢counis. These financial statements have been prepared in accordance with the special provisions relating to companies siibject to the small comp?nies regime within Part 15 of the Companies Act ?006. The financial Statements on pages 12 10 20 were approved b the trustees. and authorised for issue on 16 October 2024 and signed on their behalf by.. Mrs s'fregaskes Trustee F. Hu¥hcs Chairnian and Trusiee The noies on pag¢s 15 to 20 fonn an integral part of these financial sratement5. Page 14 Par Bay Community Trust Notes lo the Financial Statements for the Year Ended 31 Mareh 2024 I Churity 5tatU5 The charity is limited by guarantee. incorpordled Ensland. and consequently does noi have Share capiial. Fach ol'th¢ trust¢¢S Is liable io ¢oniribute an amount not exceedinu £Nil toivards Ihe assets of rhe charity in the event of liquidation. Th¢ address of its regist¢r¢d olYi¢¢ is.. Comubia 31 Easlcliffc Road Par Cornwall PL24 ?AQ These financial statements weTe authori5ed for issue by the trustees on 16 (ktober 2024. 2 Aeeountlng polleies .%ummary of sigNifi¢¥nl a¢¢ouNling polici￿ #nd k¢y accouniing esitmates ThL principal accouniing policies applied in the preparaiion of ihese financial statements are set out below. ThLSL policies have been consis￿n11Y applied to all ilie years presenicd. uvless otherwise 51at¢d. it#lement ofcompllanee Tli¢ finllncial slatcmenis liav¢ prepa￿d in a¢cordartce with Accountinbr and Repoflinb by CliarillLS'. Siaiemeni ol. Recommended Practice {applicable 10 chariiies preparin&> ihcir accouiiis iii accordaiicL with Ihe l.'i11l1 Iicial Reportitl¥T siandard applicable in the UK and Republic of Ireland {fRS 10?1} (issued iii Ociober ?0191 ILliilrilie5 SORP11.'RS 10?)}. Ihc Financial Rewting Standard appli¢abl¢ in th¢ UK and Republi¢ of Ir¢land {l.'R% l O?) and th¢ Coinpanies A¢t ?006. IJMsis of prcp#rxiion Par Bay Coinniiinily 'l'nJst meets th¢ definition of a public benefit entity under fRS 102. Assets and liabiliiies r¢ initially rtcobJni5ed ai historical e051 or transaction value unless otherwise siaied in Ihe relevant dccoiiniinb policy note5. Cioing enncern Tlie Irusiees consider that there are no material uncertainties about the cliarity's ability to continue as a ¥ioing concem nor any significani areas ofuncenainty that affecl the carying value of assets held by the ¢hariry. lrteom¢ and endowments All incoiiie 15 r¢cogJiiised once the charity has entitlement to the income. it is probable that the income will be received and the amount of th¢ in¢om¢ re¢¢ivabl¢ Can be measured rtliably. DfJiiulii)ii.s legucie.s Donations are recogTrnised when the chariry has been noiified in writingj of boih the amoui)t and sertleinent date. In Ihe eveni ihat a donation is 5ubje¢i to condiiions ihai Tequire a level of perfonnance by the chariry before ihe charity is entiiled io ihe fund5. Ihe in¢om¢ is deferred and not r¢coonis¢d until either those conditions are fully met. or the fulfilment of those conditions is wholly within the control of the charity and it 15 pr(Trbable thai these condition5 will be fulfilled in the reporting ￿riod. Page 15 Par Bay Community Trust Note5 to the Financial Statements for the Year Ended 31 March 2024 Grdiiis recelvable Grants are recoLJnised when ihe charity has an eniitlement to the fvnds and any conditions linked to the grants have been mel. Where peTfom)ance condiiions are a¢iached to ihe grdni and are yet io be met, tlie incom¢ is r¢co&Tnised as a liability and included on the balance sheei as deferred income to be released. liivellnieiil liie(Ime Dividcnds are reco&>nised once ihe dividend has been declared and noiifica(ion has been received of the dividend due. Expenditure All expenditure is re¢ognised once there i5 a legal or con5trnciive obligation lo lh* expenditure, it is probable 5¢til¢in¢nt is required and the amount can be Ineasured reliably. All cosis are allocared to ihe applicablc expenditurc heading ihat aggregyaie similar costs io th￿ caiegory. Where cosis cannot be directly attributed to particiilar h¥adings they havc been allocaied on a basis consisieni will) Ihe use of resources, witli ceniral staff osls allocaied on the basis of (irnc speni. and dcprcciation charges allocated on the ponion of the asset's Use. Oil)er support cos15 are allocated based on the spread of 5taifcosts. Cliuriliihle iicilvliles Charilybl¢ expendilure comprises those cos15 in¢urred by ihe Charity in the delivery of its activitie5 and 5eryice5 for 115 beneficiarie5. It include5 both cos15 that can be allocaied directly to such activities and those costs of an illdirect nature necessary to 5UPPOrt them. Gruiilpriivl.¥liin.¥ Provisions for ￿rantS are made when ihe inieniion io rnake a 8fdlll has been communicated to the recipient but there is uncertainty aboul either the liming of the granl or ihe amount of grant payable. Suppori ¢ost5 Support costs include central functions and have been allocaied io activity cosi categories on a basis consisiLnl wilh the use of resources, for example, allocating property costs by fl¢)or areas, or per capith, sialy cosis by ihe lime spent and other Costs by their usage. Gov¢rrtance costs Tlies¢ inllude the costs Rttributable to the charity's compliance with consiiiutiollal and sia(uiory requiremenis, iiicluding audit, strategic rnanagemeni and iTusiees meeiings and reimbursed expenses. TaAation The charity is eonsidered to pass ihe tests set out in Paragrnph I Schedule 6 of the Financc Act 2010 and tlierefore li meeis the definition of a charitable company for UK corporation lax purposes. According)ly, Ihe charity is potentially exempt from taxation in resped of income or capital gains received within catebTories overed by Chaptei 3 Part I l of the Cotporalion Tax Act ?010 or Section 256 of the Taxation of Char&ieabl¢ Gains Act 1992. 10 the extent ihai Such income or sains are applied exclusively io charitable pur￿Ses. Tangible flxed assets Individual fixed assets costin& £0.00 or more are iniiially recorded ai cost. less any subsequent accumulated depreciation and subsequeni accumulated impaimieni losses. Page 16 Par Bay Community Trusl Note5 to the Financial Statements for the Year Ended 31 Mareh 2024 TradL¥ debtors I radl dcbtor5 are amounts due from customers for merchandise sold or services perfonmcd in the ordinary course of business. Trade debtors are recognised initially at the transaaion price. They are subseqllenily measured at amortised cost using the ¢rreciive interest method. less provision for impairmcnt. A provision foT thc iNIPiiim)¢ni ol. Irade debtOTS 15 Cgtablished when theTe is objective eviden¢e ihai the charity will noi be able to collect all amounis du¢ accordin&T to th¢ oribiinal iernis ofihe receivables. Cmsh c#sh equivalents Cash aiid ca511 e4uivalLnts comprise e#sh on hand and call dep051ts. And oiher short-iemi hibihly liquid invc5tm¢nis thai are readily convertible 10 a known amount of cash and are subject to an insignili¢ant risk or ch#ngre in value. Fund structure UnrLsiricred iiicome funds are bJ¢n¢ral funds that are available for use at ihe trustees discr¢iion in furtherance of Ilii objectives ol ihe chariiy. Restricted incgrne lunds are those donaied for use in a particular area or for specific purposes. Ihe use of which is rLstriciLd io that ar¢tL or purpose. 3 Income frorn donAtlons #nd leg#cie5 Unresirieled fund5 Goner#l Restricted funds Tol41 fund$ Doiiaiions and l¢ba¢ies; t)onuiions trom individiials Gran15. includinby capital bjranis: Gran15 Irom oth¢r ¢hari(ies 29.702 21,777 51.479 16.632 54.8.50 Total for 2024 46.334 59.995 106.3?9 Tot#1 for 2023 74.748 30.029 104.777 4 Investm¢nt in¢oThe UNrestrielcd fund5 General Total furtd5 Total for 2024 Totxl for 2023 Page 17 Par Bay Community Trust Notes to the Finvdncial Statements for the Year Ended 31 Mareh 2024 5 Other ineorne Unrestricted funds Gcneral Total lunds Total for 2023 24,410 24.410 6 Expenditure charitable a¢tivlties Unreslrieted funds Genorgl Restrleted Toial funds Note Allo¢ol¢d suppon costs Governance costs 82.755 1.846 45.813 128.568 1.846 TotAI for 2024 84.601 45,813 130.414 Total for 2023 84.047 58.918 14? 965 Tolal expenditure In addition ¢0 the expenditure analysed above. ther¢ ar¢ a150 governance costs of £1.846 (2023 £1,813) whi¢h relate directly lo charitable activities. Stt note 7 for further de￿ils. 7 Att8lysi5 of governance and support Costs Governinee e05tS Unre5trirl¢d Totol funds General Allocated 511PPOrt Costs 1.846 1.846 Total for 2024 1.846 1,846 Total for 2023 1.813 Page 18 Par Bay Community Trust Notes to the Fin2nciAI Statements for the Year Ended 31 March 2024 8 Trustees remuneration and expenses No Irusiees. nor any persons connected with them. have received any ￿m￿neral10￿ from the Charity duriiig th¢ year. 9 T#xAtion TIIL cliariiy 15 a registered charity and is iherefore exempt from tsxation. 10 T#Ngible fixed Ms5ets #nd bulldlngs Total Cost At l April 2023 321.848 3?1.848 Ai 31 March 20?4 371.848 321.848 Dtpreclsltlon At 31 March ?024 Net book value At 31 MELrch 2024 371.848 321.848 Ai 31 March 2023 3?1.848 3?1,848 l Debtors 2024 2023 Trade debtors 1.497 3,618 12 Cash and c85h cquivglent5 2024 2023 Cash on hand Cash ai bank 305 151,976 128 133.719 152.281 133.847 13 Creditors: amount5 falling due wiihin one year Page 19 Par Bay Community Trust Notes to the Financial Statements for the Year Ended 31 Mareh 2024 2024 2023 VAT grdni repayable Oiher creditors Accruals (511) 726 1.500 1.5(M) 991 2.225 14 Fund5 Balunce at 31 Mareh 2024 Balhnce at I April 2023 Incoming resourees R¢$ources txpended Trnnsf¢r$ Unrestrlcted funds Genernl 44?.6?4 82.130 (84,601) (45.813 {14.9381 425.215 Rtsirl¢ied fund5 14.464 65.831 14.938 49.420 Totul funds 457.088 147.961 1130.414) 474.635 Unre51ricled funds 1$ Related parly transaction5 'I'here wer¢ no related pany iTansaction5 in the year. Page 20 Par Bay Community Trust Statement of Financial Activities by fund for the Year Ended 31 March 2024 Unrestricted Funds Total Tolal Vnrestricte(l Unreslricled Fund5 Fiinds 2024 2023 Incomt and Endowments from: Donation5 and lebacies InvLstn)eni income Oili¢r income 46.334 640 35.156 74,748 46.369 Ttsial income 82.130 121 ??9 Exp¢ndilure on: 184,601 184.0471 Total expenditure 84,601) 184,0471 N¢1 lexp¢ndilurellincome Translers between funds {2,471) 114,938) 37.182 l?0,1081 NLII movement in funds 117.409) 17.074 Reconciliation of fund5 Total fiinds brou¥ht forward I'olal funds ca￿led forward 442.6?4 425,550 4?5?15 44?.6?4 This pag¢ does not fomi pan of ihe staiutory financial siaiements. Page21 Par Bay Community Trust Statement of Financial Activities by fund for the Year Ended 31 March 2024 Restricted Funds Tot81 Restricted Funds 2024 Total Restrieted Funds 2023 Income #nd ENdowrnent5 froJR: Donations and lebFacies Oiher income 59,995 5,836 30.029 382 Total income 65,831 30.41 Expenditure on: Cliaritable activiiies 145,813) 158.918) Total expenditure 145.813) (58,918) Net incomel{expenditure) 'rran5fers betw¢en funds 20,018 14,938 {28,5071 20.108 Net movement in funds 34.956 (8,399) Rec'onelllutlon or runds '[ oial I'unds brought forward 'I'otal funds carried forward 14.464 22.863 49.420 14.464 This page doe5 not forn part of the slatutory financial s¢atements. Page 22