## **Treasurer’s Report for the period** ## **01/04/2023 To 31/03/2024** ## **Charity name: Bushmead Community Centre** ## **Review of the charity’s fnancial positon at the end of the period** The charity has faced another challenging year. The cost of gas, electricity and water has increased substantially and staff costs have increased as well, mainly through the employment of a Centre Assistant needed to help the Centre Manager. The increase in the Living Wage has also increased staff costs. The main challenge has been the necessity to replace the hub heating boilers as they are obsolete and it is no longer possible to acquire spare parts. See below for more information. The Covid virus caused extra expenditure and the Centre Manager coped with the situation extremely well. At the end of the year, there had been a loss of £8871, with cash funds of £40,293 held (not including any Reserves). Hub Heatng. The boilers have been a problem for some time, but we were finally advised that both boilers are obsolete and replacement parts could no longer be found. The Trustees were left with no choice but to source replacements as the Hub could not remain open without heating. Using professional advice, the boiler replacement was put out to tender and four tenders were received and we proceeded with the tender totalling £108,990 with a further £6,612 for professional fees. The total cost exceeded the trustees’ expectations and so it was decided to appeal to the local community for assistance of £25,000 towards the cost, with the trustees using all the Reserves of £76,534 and the balance coming from the cash held in the bank account. Thank you to all the people that contributed to the appeal. Stage payments were agreed and £83,748 was paid in the period under review and the bulk of the balance was paid in July 2023, leaving a retention of £2724 to be paid when all outstanding works have been completed. ## **Reserves.** The Trustees have had to utilise all the Reserves held at 31[st] March 2023 towards the boiler replacement. During the year, the trustees were able to restore the Reserves by £25,000. ## **A descripton of the principal risks facing the charity** The Trustees are all volunteers who give their time freely. To replace a retiring Trustee can be quite difficult and we are always looking for additional trustees to help spread the work load. The charity is aware of the need to accumulate sufficient reserves to cope with possible show stopping events, such as replacing the guttering and roof tiles. The Trustees are aware that they are providing a service to the local community but it is necessary to cover increasing costs whilst being cognitive of the pressures facing our hirers and the local community. |**BUSHMEAD COMMUNITY HUB**|**BUSHMEAD COMMUNITY HUB**||**1169398**|| |---|---|---|---|---| |**Receipts andpayments accounts**||||**CC16a**| |**For the period**
**from**|**01/04/2023**|**To**|**31/03/2024**|| |**Section A Receipts and payments**|**Section A Receipts and payments**|**Section A Receipts and payments**||||||| |---|---|---|---|---|---|---|---|---| |**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest**
**£**
**150,072**
**3,220**
**500**
**4,090**
**-**
**10,525**
**-**
**168,407**
**-**
**-**
**-**
**168,407**||**Restricted**
**funds**
**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**||**Endowment**
**funds**
**to the nearest £**|**Total funds**
**to the nearest £**
**150,072**
**3,220**
**500**
**4,090**
**-**
**10,525**
**-**
**168,407**
**-**
**-**
**-**
**168,407**||**Last year**
**to the nearest £**| |HALL HIRE|**150,072**||||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**150,072**||**121,676**| |DONATIONS|**3,220**|||||**3,220**||**28,141**| |GRANTS|**500**|||||**500**||**1,000**| |SUNDRIES|**4,090**|||||**4,090**||**1,621**| |INTEREST ON DEPOSIT|**-**|||||**-**||**341**| |ROOM HIRE DEPOSITS|**10,525**|||||**10,525**||**11,503**| |TRANSFER FROM RESERVES|**-**|||||**-**||**76,194**| |**_Sub total_**_(Gross income for_
_AR)_|**168,407**|||||**168,407**||**240,476**| |||||||||| |**A2 Asset and investment sales,**
**(see table).**||||||||| ||**-**||||**-**
**-**
**-**|**-**||| ||**-**|||||**-**||**-**| |**_Sub total_**|**-**|||||**-**||**-**| |**_Total receipts_**
**A3 Payments**||||||||| ||||||**-**|**168,407**||**240,476**| |||||||||| |GRANTS|**317**||||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**317**|0|**632**| |REPAIRS/MAINTENANCE|**6,594**||**-**|||**6,594**||**9,457**| |BUILDING IMPROVEMENTS|**3,650**|||||**3,650**||**3,306**| |WAGES & STAFF COSTS|**87,613**||**-**|||**87,613**||**70,471**| |LIGHT & HEATING|**13,804**||**-**|||**13,804**||**24,572**| |WATER & SEWERAGE|**1,453**||**-**|||**1,453**||**2,216**| |CLEANING|**4,392**||**-**|||**4,392**||**6,411**| |TELEPHONE/BROADBAND/IT|**2,175**||**-**|||**2,175**||**2,721**| |ROOM HIRE DEPOSITS REFUNDED|**11,292**|||||**11,292**||**10,606**| |BUSINESS RATES|**429**|||||**429**||**738**| |FIRE & SAFETY|**1,765**|||||**1,765**||**2,895**| |GENERAL COSTS|**6,962**|||||**6,962**||**12,897**| |BOILER REPLACEMENT|**36,832**||**-**|||**36,832**||**83,748**| |**_Sub total_ **|**177,278**||**-**||**-**|**177,278**||**230,670**| |||||||||| |**A4 Asset and investment**
**purchases, (see table)**||||||||| ||**-**||||**-**
**-**
**-**|**-**||| ||**-**|||||**-**||| |**_Sub total_ **|**-**|||||**-**||**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**||||||||| ||||||**-**|**177,278**||**230,670**| |||||||||| ||**- 8,871**||||**-**|**- 8,871**||**9,806**| ||||||**-**
**-**|**-**||**-**| |||||||||| ||**65,293**||||**-**|||**74,164**| CCXX R1 accounts (SS) 20/01/2025 1 ## **Section B Statement of assets and liabilities at the end of the period** |**Categories**
Signed by one or two trustees on
behalf of all the trustees
**B1 Cash funds**
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**
**B3 Investment assets**|Signature
**Alan Mason**
**Details**
**Details**
**CASH**
**CASH - RESERVES**
**Details**
**Details**
**_Total cash funds_**
(agree balances with receipts and payments
account(s))
**Details**|**Unrestricted**
**funds**
**Restricted**
**funds**
**to nearest £**
**to nearest £**
**40,293**
**25,000**
**-**
**-**
**40,293**
**25,000**
Agreement Error
Agreement Error
**Unrestricted**
**funds**
**Restricted**
**funds**
**to nearest £**
**to nearest £**
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**Fund to which**
**asset belongs**
**Cost (optional)**
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**Cost (optional)**
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**liability relates**
**Amount due**
**(optional)**
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Print Name
**ALAN MASON**|**Endowment**
**funds**
**to nearest £**| |---|---|---|---| ||||| ||||**-**| ||||**-**| ||||**-**| ||||OK| ||||**Endowment**
**funds**
**to nearest £**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**When due**
**(optional)**| ||||| ||||| ||||| ||||| ||||| ||||| ||||Date of
approval| ||**Alan Mason**|**ALAN MASON**|**16 04 2024**| ||||| CCXX R2 accounts (SS) 20/01/2025 2 CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the truste￿1 members of BUSHMEAD COMMUNITY CENTRE On accounts for the year ended 3110312024 Charfty no Ilf any) 1169398 Set out on pages I report to the trustees on my examination of the accounts of the above charity {'the Trust.) for the year ended 3110312024. Rosponslbllltlas and As the tharity trustees of the Trust, you are responsib18 for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (llhe Acr). I report in respect of my examination of the Trust's arzounts carried out under section 145 of the 2011 Act and in carrying oul my examination, I have followed the applicable Directions given by the Charrty Commission under section 145{S)Ibl of the Act. I have cornp￿ted my examination. I confim that no matenal matters have come to my attention (other than that disclosed below ") in connection wrth the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examinerf8 Statom•nt I have no concerns and have come across no other matters in connection with Ihe examination to which attention should be drawn in order to enable proper understanding of the accounts to be reached. Please delete the words in the brackets rfthey do not apply. Sl9ned: Dats: Namo: LAWRENCE PA￿ERsON Relevant professional quallficationls) or body (if any): TREASURER, RAYNHAM WAY COMMUNITY CENTRE AddrevJ: 66 EATON GREEN ROAD, LUTON, BEDFORDSHIRE, LU2 9JE IER October 2018 Section B Disclosure Only complete if the examiner needs to highlight matters of con￿￿ {5ee CC32, Independent examination of chanty a¢￿unt$.. directions and guidance for examiners). Give here brief details of any items that the examlner wlshes to dlsclosè. NIA IER October 2018