**REGISTERED CHARITY NUMBER: 1169335** Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2022 for Beaulieu Community Trust Pink Pig Financials Ltd Fifth Floor Suite 23 63/66 Hatton Garden London EC1N 8LE ## Beaulieu Community Trust Contents of the Financial Statements for the Year Ended 31 March 2022 ||Page| |---|---| |Report of the Trustees|1 to 3| |Independent Examiner's Report|4| |Statement of Financial Activities|5 to 6| |Balance Sheet|7 to 8| |Notes to the Financial Statements|9 to 10| |Detailed Statement of Financial Activities|11| Page 1 Beaulieu Community Trust Report of the Trustees for the Year Ended 31 March 2022 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 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended PracDce (SORP) 'AccounDng and ReporDng by ChariDes' issued in March 2005. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1169335 ## **Registered ofJice** Beaulieu Community Centre 17 Centenary Way Chelmsford CM1 6AU ## **Trustees** Cllr. Susan Sullivan Emma Carrington Cllr. Ian Fuller Joel Gowen Rev. Dan Pierce Cllr. Yvonne Spence Maxine Talbot Mark Arrowsmith David Thoms ## **Independent examiner** Pink Pig Financials ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The company is a registered charity, number 1169335. The charity is a Foundation Constitution. The charity is governed by its Memorandum and ArDcles of AssociaDon and is managed by its trustees. Three trustees are appointed by Springfield Parish Council, three are appointed by Beaulieu Church and three are residents in the local area. Page 2 Beaulieu Community Trust Report of the Trustees for the Year Ended 31 March 2022 ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** There are 2 main objectives: 1. To further or benefit the residents of Beaulieu, Springfield and the surrounding areas of Essex, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the 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 establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects. 2. To further such charitable purposes for the public benefit as are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine. Beaulieu is a maturing development to the north of Chelmsford for up to 3,600 new dwellings. Beaulieu Community Trust (BCT) manages the community centre built by the developer. A lease for 125 years was signed in 2018 between the developer and Springfield Parish Council (SPC) and a similar underlease between SPC and BCT. Another development of at least 400 dwellings, called Channels, is close by and although it falls outside the boundary of the Parish Council, the trustees have sought to be mindful of the needs of the residents there as well. The community centre is acDng as a keystone resource to facilitate community development. It is a useful venue for many diverse groups that deliver a range of user-led acDviDes creaDng opportuniDes for social, leisure and personal development. The trustees seek to maximise the public benefit of such a community centre and have been mindful of this as they have sought to improve the faciliDes at the centre. ## **STRATEGIC REPORT** ## **Achievement and performance** Trustees are working closely with the local church. One of the trustees is the pioneer minister for the St Francis Community, which serves the Beaulieu and Channels development and he has been acDvely involved in the management of the centre and using it at as a resource to help social cohesion. The centre is next to The Beaulieu Park School, the first “All Through” school in Essex and the Trust will seek to work with the school as it grows in size. Page 3 The Trust employs a Centre Manager and a number of other staff who help with administraDon and act as points of contact for users. Most are local residents and are aware of issues in the community and can bring ma`ers to the a`enDon of the Trust, to help its response. Following on from the lockdown brought about by the Covid pandemic, the Centre Manager has worked hard with local businesses and residents to re-establish community events around Halloween and Remembrance Day. A successful Scarecrow Trail was set up in the area and a Mini Market took place in the centre showcasing local creaDve skills. A Foodbank operates out of the centre once a week. ## **Financial review** As will be seen from the profit and loss included in this Statement of Financial AcDvity, the centre staff have been extremely successful in re-establishing the level of hall hire income that was being achieved prior to the Covid pandemic. However, this resulted in the Trust exceeding the VAT limit and having to register for VAT in January 2022. Therefore, VAT has had to be added to all centre hire invoices from that date onwards. This has, we are pleased to say, been accepted by hirers and to date has not impacted on hiring demand. On a posiDve note, it has meant the Trust was able to make a substanDal reclaim of VAT it had paid on assets purchased in the previous 3 years. The result of this was to turn an approximate loss of £5,000 in the current year to a profit of £5,246 and improve previous years retained by £5,000 approximately. It is anDcipated that the Trust will conDnue to increase hiring income in 2022/3 but due to increased costs, it will once again depend on Parish Council grants to break even. The Trust’s cash posiDon remains healthy, due to the VAT reclaim menDoned above and the fact that a significant amount of depreciaDon has been included in the trading results. It is expected to remain so going forward even though the staggered repayment of the long term loan will commence Report of the trustees, incorporaDng a strategic report, approved by order of the board of trustees, as the company directors, on and signed on the board's behalf by: Cllr. Ian Fuller - Trustee & Secretary Page 4 Independent Examiner's Report to the Trustees of Beaulieu Community Trust I report on the accounts for the year ended 31 March 2022 set out on pages four to seven. ## **Respective responsibilities of trustees and examiner** The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. Having satis[ied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under Section 145 of the 2011 Act - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and - to state whether particular matters have come to my attention. ## **Basis of the independent examiner's report** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Pink Pig Financials Ltd Fifth Floor Suite 23, 63/66 Hatton Garden, London, EC1N 8LE Date: 08/06/2020 Page 5 ## Beaulieu Community Trust ## Statement of Financial Activities for the Year Ended 31 March 2022 |Notes
**INCOMING RESOURCES**
**Incoming resources from generated**
**funds**
Voluntary income from Grants
Hall Revenue
Donations
Other Revenue
Covid Grants
**Total incoming resources**
**Governance costs**
Accountancy
Advertising & Marketing
Charitable and political donations
Cleaning
Consulting
Cost of Goods Sold
Direct expenses
Bank Fees
Depreciation Expense
Hygiene Services
General Expenses
Insurance
IT Software & Consumables
Legal Expenses
Light, Power, Heating
Pensions Costs
Printing & Stationery
Refuse Removal
Repairs & Maintenance
Salaries
Subscriptions
Telephone & Internet
Security
Service Charge
Staff Training
Travel|31.03.22
Unrestricted
fund
£
5,100
105,039
0
623
9,281| |---|---| ||120,043
3,892
0
0
9,219
1,639
187
1,067
4
4,389
1,106
52
4,520
633
0
9,213
695
230
552
3,965
58,458
0
709
731
12,138
398
0| ||114,797| |**Total resources expended**|114,797| |**NET INCOMING/(OUTGOING)**
**RESOURCES**|5,246| |---|---| ||| |**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|7120| ||12,366| The notes form part of these financial statements Page 7 Beaulieu Community Trust Balance Sheet at 31 March 2022 |Notes|31.10.22
Unrestricted
fund
£
10,778
4,748
0
135
45,815
9,588
9,698| |---|---| |**FIXED ASSETS**
Fixtures & Fittings
Furniture
Computer Equipment
Plant & Machinery
**CURRENT ASSETS**
Cash at bank
Accounts Receivable & Prepayments
**CREDITORS**
Amounts falling due within one year
3|| ||| |**NET CURRENT ASSETS/(LIABILITIES)**|45,705| ||| |**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after one year|61,366
49,000| ||| |**NET ASSETS/(LIABILITIES)**|12,366| ||| |**FUNDS**
Unrestricted funds
4|12,366| ||| |**TOTAL FUNDS**|12,366| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the charitable company to obtain an audit of its [inancial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for Page 8 (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing [inancial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each [inancial year and of its surplus or de[icit for each [inancial 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 [inancial statements, so far as applicable to the charitable company. These [inancial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008). The [inancial statements were approved by the Board of Trustees on and were signed on its behalf by: Cllr. Ian Fuller - Trustee & Secretary The notes form part of these [inancial statements Page 9 Beaulieu Community Trust Notes to the Financial Statements for the Year Ended 31 March 2022 ## **1. ACCOUNTING POLICIES** ## **Accounting convention** The [inancial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **Exemption from preparing a cash Jlow statement** Exemption has been taken from preparing a cash [low statement on the grounds that the charitable company quali[ies as a small charitable company. ## **Incoming resources** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quanti[ied with reasonable accuracy. ## **Resources expended** Expenditure is accounted for on an accruals basis and has been classi[ied 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. ## **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 speci[ied 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 [inancial statements. ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other bene[its for the year ended 31 March 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2022 Page 10 ## **3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 31.03.22 £ Accrued Expenses 0 ## **4. MOVEMENT IN FUNDS** ||At 31.03.21
£
Adjustments
£
2,290
4,831|
Net
movement
in funds
£
5,246|At 31.03.22
£
12,366| |---|---|---|---| |**Unrestricted funds**
General fund|||| ||||| |**TOTAL FUNDS**|2,290
4,831|5,246|12,366| ||||| |Net movement in funds, included in the above are as follows:|||| ||||| ||Incoming
Resources
£|Resources
Expended
£|Movement in
Funds
£| ||||| |**Unrestricted funds**
General fund|120,043|(113,541)|6,502| ||||| |**TOTAL FUNDS**|120,043|(113,541)|6,502| ||||| Page 11 ## Beaulieu Community Trust ## Detailed Statement of Financial Activities for the Year Ended 31 March 2022 |**INCOMING RESOURCES**
**Voluntary income**
Grants
Hall Revenue
Donations
Other Revenue
Covid Grants|31.03.22
Unrestricted
fund
£
5,100
105,039
0
623
9,281| |---|---| ||120,043| ||| |**Total incoming resources**|120,043| ||| |**RESOURCES EXPENDED**|| |**Governance costs**
Accountancy
Advertising & Marketing
Charitable and political donations
Cleaning
Consulting
Cost of Goods Sold
Direct expenses
Bank Fees
Depreciation Expense
Hygiene Services
General Expenses
Insurance
IT Software & Consumables
Legal Expenses
Light, Power, Heating
Pensions Costs
Printing & Stationery
Refuse Removal
Repairs & Maintenance
Salaries
Subscriptions
Telephone & Internet
Security
Service Charge
Staff Training
Travel|3,892
0
0
9,219
1,639
187
1,067
4
5,389
1,106
52
4,520
633
0
9,213
695
230
552
3,965
58,458
0
709
731
12,138
398
0| |---|---| ||114,797| ||| |**Total resources expended**|(114,797)| ||| |**Net Income/(expenditure)**|5,246| This page does not form part of the statutory financial statements