(A Charitable Incorporated Organisation) ## **LoveDover Regeneration Company** ## **Report and Financial Statements for the year 2 October 2019 to 30 September 2020** Charity number: 117 0981 Registered Office: c/o Tersons, 29 Castle Street, Dover CT16 1PT ## **Contents** |**Contents**||| |---|---|---| ||Page|| |Board of Trustees|1|| |Independent Examiners|1|| |Bankers|1|| |Aims and objectives||2| |Structure, Governance and Management||2| |Future Plans||2| |Risk Management|3|| |Independent Examiner’s Report||| |Statement of Financial Activities||| |Balance Sheet as at 1 October 2019||| ## **Board of Trustees** Susan Jane Jones Allison Burton Simon John Crowley Neil Thomas Rix John Andrew Lamoon Nigel Bodell Barry Rolfe ## **Independent Examiners** Evans and Evans Ltd., 24A St Radigunds Road, Dover. CT17 0JY ## **Bankers** Barclays Bank ## **Aims and Objectives** 1 The promotion for the benefit of the public of urban or rural regeneration in areas of social and economic deprivation (and in particular St Radigunds, Tower Hamlets, Buckland and in the region of Dover as a whole) by all or any of the following means: 1. The advancement of education, training or retraining particularly amongst unemployed people and providing unemployed people with work experience; 2. The creation of training and employment opportunities by the provision of workspace, buildings, and/or land for use on favourable terms; 3. The provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing. ## **Structure, Governance and Management** The organisation is a Charitable Incorporated Organisation, registered with the Charity Commission on 4 January 2017. It was briefly a company limited by guarantee established 21 December 2016, prior to gaining charitable status. This company was dissolved and its assets transferred to the CIO. Start up funding of £350,000 to LoveDover was provided without conditions by Dover Town Council. The first tranche of funding was used to purchase 7 Market Square, Dover. The charity trustees give their time voluntarily and receive no benefits from the charity. No expenses have been paid. LoveDover is particularly grateful to Nigel Bodell, without whom the regeneration of 7 Market Square would not have been possible and to Simon Crowley, John Lamoon and Neil Rix for their professional help and advice to the board during this year again. The Board of Trustees has been unable to meet face-to- face since March of 2020 but has continued to conduct business by electronic means and has continued to involve itself in the business and development of Dover. The expenditure for the year 2019-20 was £19,061. ## **Future Plans** Following the successful sale of the apartment on the upper floors of 7 Market Square and the continued occupation of the lower floors’ commercial premises, the trustees continue to explore avenues for 2 future funding of further regeneration in the town centre. Trustees are exploring the opportunities for a funding partnership which would enable further regeneration work to be done In Dover. The sale of the leasehold apartment allowed interest free loans from trustees to the charity of £90,000 to be repaid. The CIO is extremely grateful to the trustees who were generous with their own personal finances. ## **Risk Management** The Board of Trustees has reviewed the risks to which the charity might be exposed and there is a risk register, which is updated at least annually. Where appropriate, systems and procedures are in place to mitigate risks. Internal controls are in place with a procurement policy and financial regulations which are adhered to for all transactions. All policies and procedures are periodically reviewed to ensure they continue to meet the needs of the charity in its current operational environment. The Board is required by law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable incorporated organisation. In doing so the Board of trustees of LoveDover have:- - Followed best practice; - Selected suitable accounting policies and applied them consistently; - Made judgements and estimates that are reasonable and prudent; and - Prepared the financial statements on the basis of LoveDover being an ongoing concern. In accordance with the law, as the charity’s trustees, we certify that so far as we aware, there is no relevant audit information of which the independent examiners are unaware; and we have taken all the steps possible to make ourselves aware of the relevant audit information and to establish that the CIO’s independent examiners are aware of that information. Evans and Evans Ltd have been appointed as LoveDover’s independent examiners for this period and we are grateful for their services. Approved by the Board of Trustees of LoveDover on 27th June 2021 and signed on their behalf by Barry Rolfe and Allison Burton. 3 LOVEDOVER REGENERATION COMPANY CHARITABLE INCORPORATED ORGANISATION REGISTERED NUMBER 1170981 ACCOUNTS YEAR ENDED 30 SEPTEMBER 2020 EVANS & EVANS LTD 24A Sl Radigunds Road Dover Kent CT17 OJY TEL 01304 449043 LoveDover Regeneration Company ao Registered Number- 1170981 Statement of Financial Activities For the year ended 30 September 2020 Notes General Fund Unrestricted Restricted Fund Totals 2020 Totals 2019 Recelpts Interest received Property Sale Proceeds Rent received Grant Rates refund Total Receipts 142 142476 3696 142476 3696 3933 12077 26152 146181 146181 Payments Property Development Property Costs - Net of refunds Professional fees Accountancv Bank Charges Sundry Total Payments 13919 2812 1200 13919 2812 1200 81XJ 60 270 19061 226163 10716 1078 400 80 87 238524 81XJ 270 19061 Net Receipts /{Payments1 127120 127120 -212372 Transfers between funds Other Gains/Losses Net Movement in Funds 127120 127120 -212372 Total Funds Brought Forward -87661 1861XKI 98339 310711 Total Funds Carried Forward 39459 186(MXI 225459 98339 LoveDover Regeneration Company CIO Registered Number- 1170981 Balance Sheet As at 30 September 2020 Notes General Fund Unrestricted Totals 2020 Totals 2019 Restricted Fund Fixed Assets Property 1111 176C 176LKKI 1760CKJ Current Assets Deposit Account Cash & Current Account 42699 7560 50259 42699 7560 50259 2692 10047 12739 Current Llabllltles Creditors (due under l yearl Loan 81TJ 8(Kl 400 9(M)00 Net Current Assets 50259 49459 -77661 Total Assets 50259 1760 225459 98339 Funds Statement General Fund Iunrestrictedl 39459 39459 -87661 Restricted Funds 186LN)O 186000 186CK)O Total Funds 39459 225459 98339 Notes The property at Dickens Corner, 7 Market Square. Dover is owned by the Charitable Incorporated Organisation. The property has been tonverted to a Café with flat over. Following the sale of the flat at 7 Market Square. loans totallinE £90,1J)O were repaid. Attounts approved by Trustees Barry Rolfe Treasurer Chair LoveDover Regeneration Company CIO Registered Number 1170981 Report of the Independent Examiner For the Year Ended 30 September 2020 I report lo the trustees on my examination of the acwunts of the above charity (Ihe Trust.) for the year ended 30 September 2020. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (Ihe Act"). I report in respect of my examination of the Trust's accounts carried oul under section 145 of the 2011 Act and in carying out my examinats'on. I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act Independent examinerfs ststement I have completed my examination. I confimi that no material matters have come to rny attention in connection wth the examinab'on which gives me cause to believe that in. any material respert.. the accounting records were not kept in accordance wilh section 130 of the Charities Act: or the accounts did not accord with the accounting records" or the accounts did not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. I have no concems 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. Signed Date aq og Joa Adrian E Evans ATh(Fellow) Evans & Evans Ltd IICPA Member Firm) 24A Sl Radigunds Road Dover Kent CT17 OJY LOVEDOVER REGENERATION COMPANY CHARITABLE INCORPORATED ORGANISATION REGISTERED NUMBER 1170981 ACCOUNTS YEAR ENDED 30 SEPTEMBER 2020 EVANS & EVANS LTD 24A Sl Radigunds Road Dover Kent CT17 OJY TEL 01304 449043 LoveDover Regeneration Company ao Registered Number- 1170981 Statement of Financial Activities For the year ended 30 September 2020 Notes General Fund Unrestricted Restricted Fund Totals 2020 Totals 2019 Recelpts Interest received Property Sale Proceeds Rent received Grant Rates refund Total Receipts 142 142476 3696 142476 3696 3933 12077 26152 146181 146181 Payments Property Development Property Costs - Net of refunds Professional fees Accountancv Bank Charges Sundry Total Payments 13919 2812 1200 13919 2812 1200 81XJ 60 270 19061 226163 10716 1078 400 80 87 238524 81XJ 270 19061 Net Receipts /{Payments1 127120 127120 -212372 Transfers between funds Other Gains/Losses Net Movement in Funds 127120 127120 -212372 Total Funds Brought Forward -87661 1861XKI 98339 310711 Total Funds Carried Forward 39459 186(MXI 225459 98339 LoveDover Regeneration Company CIO Registered Number- 1170981 Balance Sheet As at 30 September 2020 Notes General Fund Unrestricted Totals 2020 Totals 2019 Restricted Fund Fixed Assets Property 1111 176C 176LKKI 1760CKJ Current Assets Deposit Account Cash & Current Account 42699 7560 50259 42699 7560 50259 2692 10047 12739 Current Llabllltles Creditors (due under l yearl Loan 81TJ 8(Kl 400 9(M)00 Net Current Assets 50259 49459 -77661 Total Assets 50259 1760 225459 98339 Funds Statement General Fund Iunrestrictedl 39459 39459 -87661 Restricted Funds 186LN)O 186000 186CK)O Total Funds 39459 225459 98339 Notes The property at Dickens Corner, 7 Market Square. Dover is owned by the Charitable Incorporated Organisation. The property has been tonverted to a Café with flat over. Following the sale of the flat at 7 Market Square. loans totallinE £90,1J)O were repaid. Attounts approved by Trustees Barry Rolfe Treasurer Chair LoveDover Regeneration Company CIO Registered Number 1170981 Report of the Independent Examiner For the Year Ended 30 September 2020 I report lo the trustees on my examination of the acwunts of the above charity (Ihe Trust.) for the year ended 30 September 2020. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (Ihe Act"). I report in respect of my examination of the Trust's accounts carried oul under section 145 of the 2011 Act and in carying out my examinats'on. I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act Independent examinerfs ststement I have completed my examination. I confimi that no material matters have come to rny attention in connection wth the examinab'on which gives me cause to believe that in. any material respert.. the accounting records were not kept in accordance wilh section 130 of the Charities Act: or the accounts did not accord with the accounting records" or the accounts did not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. I have no concems 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. Signed Date aq og Joa Adrian E Evans ATh(Fellow) Evans & Evans Ltd IICPA Member Firm) 24A Sl Radigunds Road Dover Kent CT17 OJY