## ## |Protectors Report||| |---|---|---| |Group Report ofthe Trustees including|Strategic Report|2-11| |Report ofthe Independent
Auditors||12-15| |Statement
of Financial Activities||16-17| |Balance Sheet||18-19| |Statement
ofCash Flows||20| |Notes to Financial Statements||21-41| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |REFERENCE AND ADMINISTRATIVE|REFERENCE AND ADMINISTRATIVE|REFERENCE AND ADMINISTRATIVE|REFERENCE AND ADMINISTRATIVE|DETAILS|||||| |---|---|---|---|---|---|---|---|---|---| |Charity name||||Building Communities
Trustee|||Limited||| |Charity registration||number||1164509|||||| |||||Linked charities|||||| |||||1164509-1—Invest Local Trust|||T/A Building Community||Trust 8 BCT| |Company registration|||number|08916805|||||| |Registered office||||Britannia House|||||| |||||Caerphilly
Business Park|||||| |||||Caerp hilly|||||| |||||CF833GG|||||| |Trustees||||David Dallimore - Chair|||||| |||||Dr Eva Elliot - Chair Programme|||sub-committee||| |||||Joanne Oak - Chair Finance and General||||Purposes Committee|| |||||Professor Kent Matthews|||||| |||||Dewi Llwyd Evans —Resigned||26October 2023|||| |||||Hannah
Thorn —Appointed 03|||January 2023||| |||||Casy Edwards
-Appointed
03||January 2023|||| |||||William Jenkins —Appointed||03January||2023|| |||||Martin Blakebrough|||||| |||||Graham
Benfield|||||| |||||Carol Green —Resigned|25August 2023||||| |Chief Executive||||Mr CJohnes|||||| |Key management||personnel||Mr CJohnes - Chief Executive|||||| |||||Mrs M Williams - Finance Manager|||||| |Independent|auditors|||Azets Audit Services|||||| |||||Chartered
Accountants|&Statutory Auditors||||| |||||Ty Derw, Lime Tree Court, Cardiff Gate||||Business Park|| |||||Cardiff, CF23 BAB|||||| |Bankers||||Unity Trust Bank|||||| |||||Brindley Place|||||| |||||9Brindley Place|||||| |||||Birmingham,
812HB|||||| |Solicitors||||Geldards|||||| |||||4 Capital Quarter|||||| |||||Tyndall Street|||||| |||||Cardiff CF104BZ|||||| |Investment|Managers|||CCLA Investment
Management|||Ltd||| |||||COIF Charity Funds|||||| |||||80Cheapside,
London,|EC2V 6DZ||||| ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||Total|Total| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|funds|funds| ||||Note|funds|funds|2023|2022| ||||||f|E|f| |Income and endowments||from:|||||| |Charitable
activities|||||7,100|7,100|3,501| |Investments|||||268,652|268,652|52,504| |Other income|||||92|92|389| |Totalincome and|endowments||||275,844|275,844|56,394| |Expenditure
on:|||||||| |Charitable
activities|||||2,048,902|2,048,902|1,070,328| |Total expenditure|||||2,048,902|2,048,902|1,070,328| |Net (losses)/gains
investments|on||12||224.295|224.295|~303,5423| |Net expenditure|||||(1,548,763)|(1,548,763)|(1,317,476)| |Reconciliation of|Funds||||||| |Total funds brought forward|||18||11,729,939|11,729,939|13,047,415| |Totalfunds carried forward|||18,19||10,181,176|10,181,176|11,729,939| ## ## |||||||Total|Total| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|funds|Funds| ||||Note|funds|funds|2023|2022| |||||E|E|E|f| |Income and endowments||from:|||||| |Charitable
activities|||||||| |Investments|||||||| |Other income|||||||| |Totalincome
and|endowments||||||| |Expenditure
on:|||||||| |Charitable
activities|||||179|179|179| |Total expenditure|||||179|179|179| |Net movementin|funds||||(178)|(178)|(179)| |Reconciliation of|Funds||||||| |Total funds brought forward|||18||9,229|9,229|9,408| |Totalfunds carried forward|||18,19||9,051|9,051|9,229| |||BUILDING COMMUNITIES TRUSTEE|BUILDING COMMUNITIES TRUSTEE|BUILDING COMMUNITIES TRUSTEE|LIMITED||| |---|---|---|---|---|---|---|---| |||CONSOLIDATED||BALANCE SNEET|||| |||ASAT30SEPTEMBER2023|||||| |||||2023||2022|| |||Note|||||| |Fixed assets:|||||||| |Tangible assets||11|||4,386||5,004| |Investments||12|||11,164,227||12,342,629| ||||||11,168,613||12,347,633| |Current assets:|||||||| |Debtors||14||30,302||14,093|| |Cash at bank and in|hand|||742,972||651,452|| |||||773,274||665,545|| |Uabilities:|||||||| |Creditors: Amounts|falling due||||||| |within one year||15|(1,285,148)|||(871,961)|| |Net current (liabilities)/assets|||||(511,874)||(206,416)| |Total assets less current liabilities|||||10,656,739||12,141,217| |Creditors: Amounts|falling due|after|||||| |more than one year||16|||(475,563)||(411,278)| |Net assets||19|||10,181,176||11,729,939| |The funds ofthe charity:|||||||| |Restricted income funds||18|||10,181,176||11,729,939| |Total charity funds||19|||10,181,176||11,729,939| ## |~Grou|||Note|2023|2022| |---|---|---|---|---|---| |||||E|E| |Net cash (used in) operating
activities|||25|(1,578,249)|1,100,789| |Cash flows from investing
activities:|||||| |Dividends,
interest and rents from investments||||268,652|52,504| |Proceeds from sale ofinvestments||||2,932,128|| |Purchase ofproperty,
plant and equipment||||(1,580)|(4,693)| |Purchase ofinvestments||||(2,932,128)|(2,000,000)| |Net cash provided
by investing
activities||||267,072|(1,952,189)| |Change
in cash and cash equivalents|in the reporting|pedod||(1,311,177)|(3,052,978)| |Cash and cash equivalents
at the beginning ofthe reporting|||||| |period||||8,272,762|11,325,740| |Cash and cash equivalents
at the end|ofthe reporting|period|25|6,961,585|8,272,762| ## ## ## ## ## ## ## ## ## |Depreciation
is calculated
the useful economic life of|so as to writ
the asset a| |---|---| |IT Equipment|-3years| |Fixtures and Fittings|-3years| |Leasehold
Improvements|-3years| ## ## ## ## ## ## ## ## ## ## ## ## ## |4.|INCOME FROM INVESTMENTS||||| |---|---|---|---|---|---| |||Unrestricted|Restricted|Total|Total| ||~Grou|fundsf|funds
f|2023f|2022
f| ||Interest earned on cash and cash||||| ||instruments||268,652|268,652|47,910| ||Dividends
from equities||||4,594| ||||268,652|268,652|52,504| |||Unrestricted|Restricted|Total|Total| ||~Charlt|funds|funds
f|2023f|2022
f| ||Interest earned on cash and cash||||| ||instruments||||| |5.|INCOME FROM OTHER SOURCES||||| |||Unrestricted|Restricted|Total|Total| |||funds|funds|2023|2022| ||~Grou|f|f|f|f| ||Insurance
claim||||389| ||Event income||92|92|| ||||92|92|389| |||||||IQ0|O|0
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0|C|| |unds Distrib|uted||| |---|---|---|---| |||Total|Total| |||committed|committed| |||to date|todate| |||2023|2022| |Invest local|area|E|| |Caerau||694,207|656,365| |Cefn Golau||966,487|966,487| |Clase||444,682|400,404| |Glyn||438,886|499,019| |Hubberston|and Hakin|996,975|590,070| |Llwynhendy||345,035|142,385| |Maesgeirchen||572,225|572,225| |Penywaun||305,856|290,106| |Phillipstown||246,006|206,006| |Pillgwenlly||303,815|288,065| |Plas Madoc||894,997|894,997| |Trowbridge|and StMellons|936,206|245,530| |ynysowen||339,534|323,784| |||7,484,911|6,075,443| ## |Governance costs||||| |---|---|---|---|---| ||Unrestricted|Restricted|Total|Total| ||funds|funds|2023|2022| |~Grou|E|E|f|f| |Trustees' expenses||832|832|338| |Costs ofmeetings||820|820|204| |Trustees training||||1,650| |Trustee recruitment||901|901|| |ITcosts||308|308|| |Protector's fees||8,000|8,000|8,000| |Staff costs||24,559|24,559|22.331| |Audit fees||7,212|7,212|6,324| |||42,632|42,632|38,847| ## ## |Fees for examination|ofthe accounts||||| |---|---|---|---|---|---| |||Unrestricted|Restricted|Total|Total| |~Grou||funds|funds|2023|2022| |||f||f|f| |Auditors fee|||7,212|7,212|6,324| ||||7,212|7,212|6,324| |8.|NET EXPENDITURE FOR THE YEAR||| |---|---|---|---| ||This isstated after charging:||| |||2023|2022| ||~Grou|f|f| ||Operating
leases|9,834|5,808| ||Depreciation|2,198|2,686| ||Auditors
remuneration:||| ||Audit fees|7,212|6,324| ## |MANAGEMENT
PERSONNEL||| |---|---|---| ||2023|2022| |~Grou|E|E| |Wages &salaries|330p054|272,141| |Social security costs|28,148|22,853| |Pension costs|18,279|20,925| ||376,481|315,919| ## ## ## ## ## |he ave|rage monthly
number ofstaff employed|during the year was as follows:|| |---|---|---|---| |||Total|Total| |||2023|2022| |~Grou||No|No| |Office|staff|10|9| |||10|9| ## ||Fixtures 8|IT|| |---|---|---|---| |~Grou|Rttings
f|Equipment
E|Total
E| |Cost|||| |At 1October 2022|1,490|15,411|16,901| |Additions||1,580|1,580| |Disposals||(2,034)|(2,034)| |At 30September 2023|1,490|14,957|16,447| |Depreciation|||| |At 1October 2022|1,490|10,407|11,897| |Charge for year||2,198|2,198| |Disposals||(2,034)|(2,034)| |At 30September 2023|1,490|10,571|12,061| |Net book value|||| |30September 2023||4,386|4,386| |30September 2022||5,004|5,004| |~Charit|||| |Cost|||| |At 1October 2022|1,490|1,000|2,490| |At 30September 2023|1,490|1,000|2,490| |Depreciation|||| |At 1October 2022|1,490|1,000|2,490| |At 30September 2023|1,490|1,000|2,490| |Net book value|||| |30September 2023|||| |30September 2022|||| ## ## ## ||||2023|2022| |---|---|---|---|---| |Garou|||E|f| |Market value|1October 2022||4,721,319|3,024,861| |Investment
additions|||2,932,128|2,000,000| |Investment
disposals|||(2,932,128)|| |Net (loss)/gain
on revaluation|||224,295|(303,542)| |Fair value at|30September 2023||4,945,614|4,721,319| |Cash held on|deposit at30September 2023||6,218,613|7,621,310| |Total investments|||11,164,227|12,342,629| |Net cash released from investments||was E1,655,000(2022:E1,480,000).||| |Investments|by type|||| |Equity|||2,012,324|4,721,319| |Fixed interest|||2,933,290|| |Cash|||6,218,613|7,621,310| ||||11,164,227|12,342,629| ## |A summary
ofthe results|are shown|below:|||| |---|---|---|---|---|---| |||Unrestricted|Restricted|Total funds|Total funds| |||funds|funds|2023|2022| |||E|E|E|f| |Income and endowments|from:||||| |Charitable
activities|||7,100|7,100|3,501| |Investments|||268,651|268,651|52,504| |Other|||92|92|389| |Total income and endowments|||275,843|275,843|56,394| |Expenditure
on:|||||| |Charitable
activities|||2,048,723|2,048,723|1,070,149| |Total expenditure|||2,048,723|2,048,723|1,070,149| |Net losses/gains
on investments|||224,295|224,295|(303,542)| |Net income/(expenditurej|||(1,548,585)|(1,548,585)|(1,317,297)| |Reconciliation ofFunds|||||| |Totalfunds
brought forward|||11,720,710|11,720,710|13,038,007| |Totalfunds carried forward|||10,172,125|10,172,125|11,720,710| |Balance Sheet||||2023|2022| |||||E|f| |Fixed assets||||4,386|5,004| |Investments||||11,164,227|12,342,629| |Debtors||||30,302|14,093| |Cash at bank||||733,921|642,223| |Liabilities||||(1,760,711)|(1,283,239)| |||||10,172,125|11,720,710| |Restricted reserves||||10,172,125|11,709,710| ||||||BUILDING COMMUNITIES TRUSTEE LIMITED|BUILDING COMMUNITIES TRUSTEE LIMITED|BUILDING COMMUNITIES TRUSTEE LIMITED|BUILDING COMMUNITIES TRUSTEE LIMITED||| |---|---|---|---|---|---|---|---|---|---|---| ||||||NOTES TO THE FINANCIAL STATEMENTS|||||| ||||||FOR THE YEAR|ENDED 30SEPTEMBER||2023||| |14.|DEBTORS|||||||||| |||||||Group||Group|Charity|Charity| |||||||2023||2022|2023|2022| |||||||f||f|f|f| ||Prepayments|||||2,963||3,103||| ||Accrued|income||||27,339||10,990||| |||||||30,302||14,093||| |15.|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR||||||| |||||||Group||Group|Charity|Charity| |||||||2023||2022|2023|2022| |||||||f||f|f|f| ||rrade creditors|||||9,907||18,942||| ||Other creditors|||||1,206||||| ||Social security||and other||taxation|8,166||7,550||| ||Accruals|||||6,996||6,901||| ||Funding|Commitments||||1,258,873||838,568||| |||||||1,285,148||871,961||| |16.|CREDITORS:AMOUNTS|||FALLING DUE AFTER MORE THAN ONE YEAR||||||| |||||||Group||Group|Charity|Charity| |||||||2023||2022|2023|2022| |||||||f||f|f|f| ||Funding|Commitments||||475,563|411,278|||| |||||||475,563|411,278|||| |17.|FINANCIAL INSTRUMENTS|||||||||| ||||||||||2023|2022| ||~Grou||||||||f|f| ||Carrying|amount offinancial assets||||||||| ||Investments||measured||at fair value|||11,164,227||12,342,629| ||~Chari|||||||||| ||Carrying|amount offinancial assets||||||||| ||Investments||measured||at fair value|||||| ## |||F|OR THE YEAR ENDED|30SEPTEMB|ER2023||| |---|---|---|---|---|---|---|---| |18.|RESTRICTED|FUNDS|||||| ||||At||||At 30| ||||1October|||Gains/|September| ||~Grou||2022
E|Income
E|Expenditure
E|(losses)|2023f| ||Big Lottery|fund|7,470,842||(2,041,710)||5,429,132| ||Other Income|||7,192|(7,192)||| ||Investment|income|4,259,097|268,652||224,295|4,752,044| ||||11,729,939|275,844|(2,048,902)|224,295|10,181,176| ||Charity||||||| ||Big Lottery|fund|9,229||(179)||9,051| ||||9,229||(179)||9,051| ||~pr vi ~se|r|||||| ||||At||||At 30| ||||1October|||Gains/|September| ||~Grou||2021
E|Income
f|Expenditure
f|(losses)
f|2022
f| ||Big Lottery|fund|8,537,280||(1,066,438)||7,470,842| ||Other Income|||3,890|(3,890)||| ||Investment|income|4,510,135|52,504||(303,542)|4,259,097| ||||13,047,415|56,394|(1,070,328)|(303,542)|11,729,939| ||tharitE||||||| ||Big Lottery|fund|9,408||(179)||9,229| ||||9,408||(179)||9,229| ## ## ## |19.|ANALYSIS|OF NET ASSETS BETWEEN FUN|DS|||| |---|---|---|---|---|---|---| ||||Unrestricted||Restricted|Total| ||~Grou|||E|f|f| ||Fixed assets||||4,386|4,386| ||Investments||||11,164,227|11,164,227| ||Current|assets|||773,274|773,274| ||Current|liabilities|||1,285,148|1,285,148| ||Long term liabilities||||475,563|475,563| ||||||10,181,176|10,181,176| ||~Chari|||||| ||Current|assets|||9,051|9,051| ||||||9,051|9,051| ||||Unrestricted||Restricted|Total| ||~Grou|||f|f|f| ||Fixed assets||||5,004|5,004| ||Investments||||12,342,629|12,342,629| ||Current|assets|||665,545|665,545| ||Current|liabilities|||(871,961)|(871,961)| ||Long term liabilities||||(411,278)|(411,278)| ||||||11,729,939|11,729,939| ||~Charit|||||| ||Current|assets|||9,229|9,229| ||||||9,229|9,229| |20.|OPERATING LEASES|||||| ||||||Total|Total| ||~Grou||||2023f|2022
f| ||Due less|than one year||||7,834| |||||||7,834| ## ## ## ## ## ## |RECONCILIATION
OF NET INCOME/(EXPENDITURE)|TO NET CASH FLOW|FROM OPERATING|ACTIVITIES| |---|---|---|---| |~Grou|Note|2023|2022| |||E|E| |Net income/(expenditure)
for the reporting|period (as||| |per the Statement ofFinancial Activities)||(1,548,763)|(1,317,476)| |Adjustments for.|||| |Depreciation||2,198|2,686| |(Gains)/losses
on revalued
fixed assets||(224,295)|303,542| |Dividends,
interest and rents from investments||(268,652)|(52,504)| |(Increase)/decrease
in debtors||(16,209)|9,934| |Increase/(decrease)
in creditors||477,472|(46,971)| |Net cash (used in) operating
activities||(1,578,249)|(1,100,789)| |Analysis ofCash and Cash Equivalents|||| |Cash in hand||742,972|651,452| |Cash held in dealing account|12|6,218,613|7,621,310| |Total Cash and Cash Equivalents||6,961,585|8,272,762| ## ## ||||||Total| |---|---|---|---|---|---| ||||Unrestricted|Restricted|funds| ||||funds|funds|2022| |~Grou|||f|f|f| |Income and endowments||from:|||| |Charitable
activities||||3,501|3,501| |Investments||||52,504|52,504| |Other income||||389|389| |Totalincome and|endowments|||56,394|56,394| |Expenditure on:|||||| |Raising funds|||||| |Charitable
activities||||1,070,328|1,070,328| |Total expenditure||||1,070,328|1,070,328| |Net (losses)/gains|on investments|||~353,542)|)3D3,542)| |Net expenditure)||||(1,317,476)|(1,317,476)| |Reconciliation
of|Funds||||| |Total funds brought forward||||13,047,415|13,047,415| |Totalfunds carried forward||||11,729,939|11,729,939| |Charity|||||| |Income and endowments||from:|||| |Charitable
activities|||||| |Investments|||||| |Other income|||||| |Total income and|endowments||||| |Expenditure
on:|||||| |Charitable
activities||||179|179| |Total expenditure||||179|179| |Net movement
in|funds|||(179)|(179)| |Reconciliation
of|Funds||||| |Total funds brought forward||||9,408|9,408| |Totalfunds carried forword||||9,229|9,229|