**REGISTERED CHARITY NUMBER: 1169335** Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for Chelmsford Garden Community Trust Pink Pig Financials Ltd Fifth Floor Suite 23 63/66 Hatton Garden London EC1N 8LE ## Chelmsford Garden Community Trust Contents of the Financial Statements for the Year Ended 31 March 2024 ||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 Chelmsford Garden Community Trust Report of the Trustees for the Year Ended 31 March 2024 The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Charity number** 1169335 ## **Registered Office** Beaulieu Community Centre 17 Centenary Way Chelmsford CM1 6AU ## **Trustees** Chloe Rose Tron Mark Arrowsmith Rev Dan Pierce Maxine Talbot Ian David Fuller ## **Independent Examiner** Pink Pig Financials ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The company is a registered charity, number 1169335. The charity is governed by its Trust Constitution 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. The charity is governed by its Trust Constitution 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 Chelmsford Garden Community Trust Report of the Trustees for the Year Ended 31 March 2024 ## **Risk management** The trustees have 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** The Trust will fall under the new Parish Boundary of Chelmsford Garden with effect from 1st April 2023 and the Trust will therefore be a sub-tenant of Chelmsford Garden Community Council who takes over the head lease from Springfield Parish Council on that date. 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 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 to improve the conditions of life for the residents. In furtherance of these objects but not otherwise, the trustees shall have the 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. Chelmsford Garden Community Trust (CGCT) 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). From 1st April 2023, the Trust became a sub-tenant of Chelmsford Garden Community Council who took over the head lease from SPC on that date. The community centre sits in a maturing development to the northeast of Chelmsford, which will eventually cover around 10,000 homes. The community centre is acting as a keystone resource to facilitate community development. It is a useful venue for many diverse groups that deliver a range of user-led activities creating opportunities 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 facilities at the centre. The community centre is acting as a keystone resource to facilitate community development. It is a useful venue for many diverse groups that deliver a range of user-led activities creating opportunities 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 facilities at the centre. The Trust will fall under the new Parish Boundary of Chelmsford Garden with effect from 1st April 2023 and the Trust will therefore be a sub-tenant of Chelmsford Garden Community Council who takes over the head lease from Springfield Parish Council on that date. Page 3 ## **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 actively involved in the management of the centre and using it 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. The Trust employs a Centre Manager and a number of other staff who help with administration and act as points of contact for users. Most are local residents and are aware of issues in the community and can bring matters to the attention 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 creative skills. A food bank 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 Activity, the centre staff have been extremely successful in re-establishing the level of hall hire income that was being achieved before the COVID-19 pandemic. However, this resulted in the Trust exceeding the VAT limit and having to register for VAT in January 2022. The Trust’s cash position is healthy as of 31st March 2024 however repayment of the long-term loan will restart again on an annual basis in 2024/25 and with a significant rise in operating costs not yet covered by an increase in income, cash reserves will start to be depleted throughout the coming year. The Trust will undertake a full utilisation and pricing strategy review during 2024/25, together with the exploration of other funding sources, to ensure that accumulated reserves and a healthy cash position can be maintained moving forward. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on and signed on the board's behalf by: Mark Arrowsmith - Interim Treasurer Page 4 Independent Examiner's Report to the Trustees of Chelmsford Garden Community Trust I report on the accounts for the year ended 31 March 2024 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 satisfied 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; and - to prepare accounts which accord with the accounting records, comply 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: 11th June 2024 ## Page 5 ## Chelmsford Garden Community Trust Statement of Financial Activities for the Year Ended 31 March 2024 |Notes
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Grants - Unrestricted
Donations
Hall Hire
Room Hire
Grants - Restricted
Other Revenue
**Total incoming resources**|31.03.24
Unrestricted
fund
£
23,800
10,000
52
109,120
0
2,216| |---|---| ||135,188| |**Governance costs**
Cost of Goods Sold
Direct Expenses
Advertising & Marketing
Audit & Accountancy fees
Licences
Bank Fees
Cleaning
Consulting
Depreciation Expense
Charitable and Political Donations
General Expenses
Insurance
Light, Power, Heating
Water
Printing & Stationery
IT Software and Consumables
Service Charge
Repairs & Maintenance
Hygiene Services
Refuse Removal
Security
Salaries
Staff Training
Pensions Costs
Subscriptions
Telephone & Internet
Bad Debt
**Total resources expended**
**NET INCOMING/(OUTGOING) RESOURCES**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|1,120
936
44
6,171
325
4
9,402
1,378
6,054
208
263
(626)
15,538
231
294
936
10,475
17,089
706
527
95
60,289
290
1,168
208
1,295
437| |---|---| ||133,735| ||133,735| ||333
52,874| ||53,207| The notes form part of these financial statements Page 7 ## Chelmsford Garden Community Trust Balance Sheet at 31 March 2024 |||31.10.24| |---|---|---| |||Unrestricted| ||Notes|fund| |||£| |**FIXED ASSETS**||| |Kitchen equipment||4,397| |Building fixtures and improvements||14,624| |Computer Equipment||1,392| |Office furniture||3,994| |Plant & Equipment||2,428| |**CURRENT ASSETS**||| |Cash at bank||64,992| |Accounts Receivable & Prepayments||10,920| |**CREDITORS**
Amounts falling due within one year
3
**NET CURRENT ASSETS/(LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after one year
**NET ASSETS/(LIABILITIES)**
**FUNDS**
Unrestricted funds
4
**TOTAL FUNDS**|7,540| |---|---| ||68,372| ||95,207
42,000| ||53,207| ||53,207| ||53,207| The charitable company is entitled to exemption from audit for the year ended 31 March 2024. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2024. Page 8 The trustees acknowledge their responsibilities for (a) ensuring that the charity keeps accounting records that comply with the Charities Act and (b) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the Charities Act. |The financial statements were approved by the Board of Trustees on|and were signed on its| |---|---| |behalf by:|| Mark Arrowsmith - Interim Treasurer The notes form part of these financial statements Page 9 Chelmsford Garden Community Trust Notes to the Financial Statements for the Year Ended 31 March 2024 ## **1. ACCOUNTING POLICIES** ## **Accounting convention** The financial statements have been prepared under the historical cost convention and in accordance with the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **Exemption from preparing a cash flow statement** Exemption has been taken from preparing a cash flow statement on the grounds that the charity qualifies 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 quantified with reasonable accuracy. ## **Resources expended** Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs 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 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. ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2024 Page 10 ## **3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 31.03.24 £ Accrued Expenses 1250 ## **4. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 31.03.23
£
Adjustments
£
Net
movement
in funds
£
52,874
333
53,207
52,874
333
53,207|At 31.03.24
£
53,207| |---|---|---| |||53,207| Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**
helmsford Garden Community Trust
etailed Statement of Financial Activities
r the Year Ended 31 March 2024|Incoming
Resources
£
135,187
135,187
Page 11|Resources
Expended
£
Movement in
Funds
£
(134,854)
333
(134,854)
333
31.03.24
Unrestricted
fund
£|Movement in
Funds
£
333| |---|---|---|---| ||||333| Chelmsford Garden Community Trust Detailed Statement of Financial Activities for the Year Ended 31 March 2024 |**INCOMING RESOURCES**|| |---|---| |**Voluntary income**|| |Grants - Unrestricted|10,000| |Donations|52| |Hall Hire|109,120| |Grants - Restricted|13,800| |Other Revenue|2,216| ||135,188| |**Total incoming resources**|135,188| |**Governance costs**|| |Cost of Goods Sold|1,120| |Direct Expenses|936| |Advertising & Marketing|44| |Audit & Accountancy fees|6,171| |Licences|325| |Bank Fees|4| |Cleaning|9,402| |Consulting|1,378| |Depreciation Expense|6,054| |Charitable and Political Donations|208| |General Expenses|263| |Insurance|- 626| |Light, Power, Heating|15,538| |Water|231| |Printing & Stationery|294| |IT Software and Consumables|936| |Service Charge|10,475| |Repairs & Maintenance|17,089| |Hygiene Services|706| |Refuse Removal|527| |Security|95| |Salaries|60,289| |Staff Training|290| |Pensions Costs|1,168| |Subscriptions|208| |Telephone & Internet|1,295| |Bad Debt|437| ||| **Total Resources Expended** 133,735 ## **NET INCOMING/(OUTGOING) RESOURCES** This page does not form part of the statutory financial statements