**REGISTERED COMPANY NUMBER: CE006260 (England and Wales) REGISTERED CHARITY NUMBER: 1166564**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 April 2023
for Tees Valley Community Asset Preservation Trust
J P Walters & Co Chartered Accountants 67 Duke Street Darlington Co. Durham DL3 7SD
Tees Valley Community Asset Preservation Trust
Contents of the Financial Statements for the Year Ended 30 April 2023
||Page|
|---|---|
|Report of the Trustees|1 to 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7 to 8|
|Notes to the Financial Statements|9 to 15|
|Detailed Statement of Financial Activities|16 to 17|
Tees Valley Community Asset Preservation Trust
Report of the Trustees for the Year Ended 30 April 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The charity's purposes are set out in the objects are:
To further or benefit the residents of the Tees Valley without distinction of sex, sexual orientation, race or political, religious or other opinions by associating together the said residents and local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents.
In furtherance of these objects but not otherwise, the Trustees shall have power to maintain and manage or co-operate with any statutory authority in the maintenance and management of community centres for activities promoted in furtherance of the above objects.
Page 1
Tees Valley Community Asset Preservation Trust
Report of the Trustees for the Year Ended 30 April 2023
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
At the beginning of 2021/2022 the country remained partially locked down and activities involving people gathering together in groups were still not permitted under government rules. This severely affected our ability to deliver the broad range of social and recreational activities that people had been accustomed to and also had a detrimental effect on income generation.
However, by August 2021 all restrictions had been lifted and after a 17-month absence, Children’s Soft Play parties were permitted to take place again enabling Children to once again create great memories celebrating birthdays with their friends and family.
In the first quarter of 2021/2022 the Charity’s main priority continued focussing on protecting assets and services at Hemlington Lake Recreation Centre. An emergency budget was still in place to legislate for a worst-case scenario but by the end of the year spending restrictions eased as normal services resumed.
- The Barn Nursery continued providing high standards in early years education giving children the best start in life
- The food bank, which was established to collect and distribute food donations to vulnerable adults who were forced to self-isolate continued operating until September
- The Charity’s partnership with the Linx Youth Project continued - children helped to create and maintain our community garden;
- Virgo's Community Café, an independent café which operates from Hemlington Recreation Centre, re-opened with new owners and extended opening hours
- The community Garden Project which was developed to encourage people to get more active through volunteering post lockdown had matured and bird boxes were erected to provided safe habitats for migrating birds
Throughout 2021/22 Trustees applied for, and secured several grants and would like to note our thanks to the following governmental and philanthropic organisations who supported us throughout the year:
- The Social Enterprise Support Fund - £47,000 to help the Charity bounce back from the affects of the pandemic
- Middlesbrough Council - Community Grant to support the creation of a Dementia Café who awarded us £3000
- Middlesbrough Council - Who provided 75% Business Rates Relief
- Middlesbrough Council - Omicron variant support scheme who provided £4000 business support
- The Government Coronavirus Job Retention Scheme Grant - who awarded the Charity £9,450 to secure the jobs of the two longest serving staff.
Throughout 2021/2022 Trustees continued to share their expertise to support charitable organisations with similar aims, these included
- The Friends of Fryers Field, a voluntary group that manages a community park on the east side of Darlington - received advice and some financial support
-
- Sadberge Village Hall - Advice guidance, consultancy and sourcing funding
-
- The Glebe Community Association – Funding advice and community centre management services
Page 2
Tees Valley Community Asset Preservation Trust
## Report of the Trustees
for the Year Ended 30 April 2023
- Harrowgate Hill Community Association received advice on preparing funding applications to develop a partnership
- - project aimed at protecting a playing field.
-
- Red Hall Community Association received support to apply for business support grants.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
Tees Valley Community Asset Preservation Trust is a Charitable Incorporated Organisation (CIO), governed by a constitution (Foundation Structure) dated 5th September 2015 (amended 13th April 2016). It was entered on to the Register of Charities with the registered charity number 1166564 on the 15th April 2016.
## **Recruitment and appointment of new trustees**
The Constitution states that the CIO shall have a Board of Trustees comprising at least 3 persons. New trustees may be recruited to the Board at any time by the Trustees. In selecting individuals for appointment as trustees, the Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. The Trustees may, by and from their number and from time to time, elect such officers (chair, secretary and treasurer) as they see fit.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
CE006260 (England and Wales)
## **Registered Charity number**
1166564
## **Registered office**
98 Welbeck Avenue Darlington Co. Durham
## **Trustees**
M Landers Mrs L Paley C Upton M Wood Mrs J Stainsby
## **Company Secretary**
## **Independent Examiner**
J P Walters & Co Chartered Accountants 67 Duke Street Darlington Co. Durham DL3 7SD
Approved by order of the board of trustees on …………………… and signed on its behalf by:
Page 3
Tees Valley Community Asset Preservation Trust
Report of the Trustees for the Year Ended 30 April 2023
M Landers - Trustee
Page 4
## Independent Examiner's Report to the Trustees of Tees Valley Community Asset Preservation Trust
## **Independent examiner's report to the trustees of Tees Valley Community Asset Preservation Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 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 the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
J P Walters FCA J P Walters & Co Chartered Accountants 67 Duke Street Darlington Co. Durham DL3 7SD
………………
Page 5
## Tees Valley Community Asset Preservation Trust
Statement of Financial Activities for the Year Ended 30 April 2023
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
3
Centre
20,353
Other trading activities
2
146,031
**Total**
166,384
**EXPENDITURE ON**
**Charitable activities**
Centre
200,388
**NET (OUTGOINGS)/INCOME**
(34,004)
**Transfers between funds**
12
-
**Net movement in funds**
(34,004)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
9,763
**TOTAL FUNDS CARRIED FORWARD**
(24,241)|Restricted
fund
£
9,700
-
9,700
14,530
(4,830)
(-)
(4,830)
490,670
485,840|30.4.23
Total
funds
£
30,053
146,031
176,084
214,918
(38,834)
-
(38,834)
500,433
461,599|30.4.22
Total
funds
£
73,350
126,420|
|---|---|---|---|
||||199,770
181,437|
||||18,333
-|
||||18,333
482,100|
||||500,433|
The notes form part of these financial statements
Page 6
## Tees Valley Community Asset Preservation Trust
## Balance Sheet
## 30 April 2023
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
8
1,887
**CURRENT ASSETS**
Debtors
9
3,750
Cash at bank
(28,708)
(24,958)
**CREDITORS**
Amounts falling due within one year
10
(1,170)
**NET CURRENT ASSETS**
(26,128)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
(24,241)
**NET ASSETS**
(24,241)
**FUNDS**
12
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
373,212
-
139,380
139,380
(26,752)
112,628
485,840
485,840|30.4.23
Total
funds
£
375,099
3,750
110,672
114,422
(27,922)
86,500
461,599
461,599
(24,241)
485,840
461,599|30.4.22
Total
funds
£
375,211
5,077
127,940
133,017
(7,795)
125,222
500,433
500,433
9,763
490,670
500,433|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
## Tees Valley Community Asset Preservation Trust
Balance Sheet - continued
30 April 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ……… and were signed on its behalf by:
M Landers - Trustee
L Paley - Trustee
The notes form part of these financial statements
Page 8
Tees Valley Community Asset Preservation Trust
Notes to the Financial Statements for the Year Ended 30 April 2023
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost Computer equipment - 25% on reducing balance
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 9
Tees Valley Community Asset Preservation Trust
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
|**2.**
**OTHER TRADING ACTIVITIES**
Vending machine income
Room hire
Miscellaneous
**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Centre
Middlesbrough Council – Dementia Fund
MBC Covid-19 Business Support Grant Fund
Sport England
Awards For All
Moo Music
Durham County Council
Coronavirus Job Retention Scheme Grant
Key Fund
**4.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Other operating leases|30.4.23
£
-
142,657
3,374
146,301
30.4.23
£
30,053
30.4.23
£
2,000
-
3,230
2,000
1,500
11,623
-
9,700
30,053
30.4.23
14,917
-||30.4.22
£
-
121,320
5,100
126,420
30.4.22
£
73,350
30.4.22
£
-
12,900
-
-
-
-
13,450
47,000
73,350
30.4.22
£
16,045
-|
|---|---|---|---|
|||||
|||||
continued...
Page 10
Tees Valley Community Asset Preservation Trust
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the year ended 30 April 2022.
||**Trustees' expenses**|||||
|---|---|---|---|---|---|
||||30.4.23||30.4.22|
||||£||£|
||Trustees' expenses||11,390||9,874|
|**6.**|**STAFF COSTS**|||||
||The average monthly number of employees during the year was|as follows:||||
||||30.4.23||30.4.22|
||Office and administration||4||4|
||No employees received emoluments in excess of £60,000.|||||
|**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|||||
|||Unrestricted|Restricted||Total|
|||fund|fund||funds|
|||£|£||£|
||**INCOME AND ENDOWMENTS FROM**|||||
||**Charitable activities**|||||
||Centre|26,350|47,000||73,350|
||Other trading activities|126,420||-|126,420|
||**Total**|152,770|47,000||199,770|
||**EXPENDITURE ON**|||||
||**Charitable activities**|||||
||Centre|165,895|15,542||181,437|
||**NET (EXPENDITURE)/INCOME**|(13,125)|31,458||18,333|
||**Transfers between funds**|-|(-)||-|
||**Net movement in funds**|(13,125)|31,458||18,333|
||**RECONCILIATION OF FUNDS**|||||
||**Total funds brought forward**|22,888|459,212||482,100|
||**TOTAL FUNDS CARRIED FORWARD**|9,763|490,670||500,433|
continued...
Page 11
Tees Valley Community Asset Preservation Trust
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
## **8. TANGIBLE FIXED ASSETS**
|Long
Plant and
leasehold
machinery
£
£
**COST**
At 1 May 2022
379,636
58,024
Additions
14,664
141
At 30 April 2023
394,300
58,165
**DEPRECIATION**
At 1 May 2022
33,939
31,634
Charge for year
8,097
6,545
At 30 April 2023
42,036
38,179
**NET BOOK VALUE**
At 30 April 2023
352,264
19,986
At 30 April 2022
345,697
26,390
**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 11)
Trade creditors
Accrued expenses|Computer
equipment
£
4,280
-
4,280
1,156
275
1,431
2,849
3,124
30.4.23
£
3,750
-
3,750
30.4.23
£
26,752
-
1,170
27,922|Totals
£
441,940
14,805
456,745
66,729
14,917
81,646
375,099
375,211
30.4.22
£
3,750
1,327
5,077
30.4.22
£
6,625
-
1,170
7,795|Totals
£
441,940
14,805
456,745
66,729
14,917
81,646
375,099
375,211
30.4.22
£
3,750
1,327
5,077
30.4.22
£
6,625
-
1,170
7,795|
|---|---|---|---|
||||7,795|
continued...
Page 12
Tees Valley Community Asset Preservation Trust
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
## **11. LOANS**
An analysis of the maturity of loans is given below:
|Amounts falling due within one year on demand:
Bank loans
**12.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as
**Unrestricted funds**
General fund
**Restricted funds**
General fund
**TOTAL FUNDS**|At 1.5.22
£
9,763
490,670
500,433
follows:|Net
movement
in funds
£
(-)
-
-
Incoming
resources
£
-
-
-|30.4.23
30.4.22
£
£
26,752
6,625
Transfers
between
At
funds
30.4.23
£
£
-
9,763
(-)
490,670
-
500,433
Resources
Movement
expended
in funds
£
£
(-)
(-)
(-)
-
(-)
-|
|---|---|---|---|
continued...
Page 13
Tees Valley Community Asset Preservation Trust
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
## **12. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the
**Unrestricted funds**
General fund
**Restricted funds**
General fund
**TOTAL FUNDS**|Net
movement
At 1.5.21
in funds
£
£
22,888
(13,125)
459,212
31,458
482,100
18,333
above are as follows:
Incoming
resources
£
152,770
47,000
199,770|Transfers
between
At
funds
30.4.22
£
£
-
9,763
(-)
490,670
-
500,433
Resources
Movement
expended
in funds
£
£
(165,985)
(13,125)
(15,542)
31,458
(181,437)
18,333|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
General fund
**TOTAL FUNDS**|At 1.5.21
£
22,888
459,212
482,100|Net
movement
in funds
£
-
-
-|Transfers
between
funds
£
-
(-)
(-)|At
30.4.23
£
-
-
-|
|---|---|---|---|---|
continued...
Page 14
Tees Valley Community Asset Preservation Trust
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
## **12. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
-
-
-|Resources
Movement
expended
in funds
£
£
(-)
-
(-)
-
(-)
-|
|---|---|---|
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 April 2023.
Page 15
|Tees Valley Community Asset Preservation|||
|---|---|---|
|Trust|||
|Detailed Statement of Financial Activities|||
|for the Year Ended 30 April 2023|||
||30.4.23|30.4.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Other trading activities**|||
|Vending machine income|-|-|
|Room hire|142,657|121,320|
|Miscellaneous|3,374|5,100|
||146,301|126,420|
|**Charitable activities**|||
|Grants|30,053|73,350|
|**Total incoming resources**|176,084|199,770|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|82,740|53,729|
|Pensions|-|-|
|Project costs|28,268|11,784|
|Donations|4,950|4,950|
||115,958|70,463|
|**Support costs**|||
|**Management**|||
|Business support services|1,292|18,195|
|Training|3,577|8,536|
|Rates and water|3,029|1,240|
|Insurance|2,896|1,697|
|Light and heat|17,502|15,583|
|Postage and stationery|670|1,037|
|Advertising and marketing|739|2,140|
|Sundries|-|-|
|Travelling expenses|417|256|
|Repairs and renewals|27,212|25,195|
|Property renovation costs|-|-|
|Maintenance contracts|9,266|7,989|
|Licences and subscriptions|1,068|364|
|Cleaning|1,574|1,350|
|Depreciation of leasehold property|8,097|7,015|
|Depreciation of plant & machinery|6,545|8,725|
|Depreciation of computer equipment|275,|305|
||84,159|99,627|
This page does not form part of the statutory financial statements
Page 16
Tees Valley Community Asset Preservation Trust
|Detailed Statement of Financial Activities|||
|---|---|---|
|for the Year Ended 30 April 2023|||
||30.4.23|30.4.22|
||£|£|
|**Management**|||
|**Finance**|||
|Bank charges|-|-|
|Loan interest|1,527|303|
||1,527|303|
|**Governance costs**|||
|Trustees' expenses|11,390|9,874|
|Professional fees|714|-|
|Accountancy and legal fees|1,170|1,170|
||13,274|11,044|
|Total resources expended|214,918|181,437|
|**Net (expenditure)/income**|(38,834)|18,333|
This page does not form part of the statutory financial statements
Page 17