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**LoveDover Regeneration Company** (A Charitable Incorporated Organisation)
## **Report and Financial Statements for the year 1 October 2022 to 30 September 2023**
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|
|Statement of Financial Activities||
|Balance Sheet as at 1 October 2023||
## **Board of Trustees**
Allison Burton Simon John Crowley Neil Thomas Rix John Andrew Lamoon Nigel Bodell Susan Jane Jones (resigned 30 June 2023)
## **Bankers**
Barclays Bank
**LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ**
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## **Aims and Objectives**
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 Simon Crowley, who provides ongoing professional management of the Charity’s property pro bono.
The Board of Trustees has been meeting face-to-face as well as using electronic communication is still used and trustees have continued to involve themselves in the business and development of Dover.
The expenditure for the year 2022-23 was £1836.
**LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ**
## **Future Plans**
The trustees continue to explore avenues for future funding of further regeneration in the town centre. During 2022-23, LoveDover was pleased to see the redesign and rebuild of the Market Sq which has had some positive impact for traders in the area including Market Sq Kitchen. However, the redesign and resurfacing of the Square appears to have caused some issues with basement flooding during periods of heavy rain for 7 Market Square and its immediately neighbouring buildings.
Trustees have researched models elsewhere for a groundbreaking funding partnership with the District Council and other public/3[rd] sector partners which would enable further regeneration work to be done In Dover. Despite discussions, we have been unable to progress this but it remains project we think would unlock further improvements whilst saving money from the public purse.
The hospitality business occupying the lower two floors of 7 Market Square has continued in business and been able to meet its obligations in terms of rent and other liabilities. Our trustees continue to encourage Market Square Kitchen to deliver on its undertakings to deliver community benefits from its commercial premises and activities. The space is used to host meetings of the local Safety Partnership gratis.
## **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.
**LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ**
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As LoveDover’s income and expenditure during 2022-23 has remained below Charity Commission thresholds for external and independent audit, trustees have exercised prudence in not retaining auditors.
Approved by the Board of Trustees of LoveDover on 31st July 2024.
**LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ**
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# **LOVEDOVER REGENERATION COMPANY CHARITABLE INCORPORATED ORGANISATION**
**REGISTERED NUMBER 1170981**
**ACCOUNTS YEAR ENDED 30 SEPTEMBER 2023**
**LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ**
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LoveDover Regeneration Company CIO Registered Number 1170981
## Statement of Financial Activities
For the year ended 30 September 2023
|**Notes**
**Receipts**
Interest Received
Rent Received
Insurance Reimbursement|**General**
**Fund**
**Unrestricted**
320
8,666
57|**Restricted**
**Fund**
0
0
0|**Totals**
**2023**
320
8,666
57|**Totals**
**2022**
21
8,000
896|
|---|---|---|---|---|
|**Total Receipts**|**9043**|0|**9043**|**8,917**|
|**Payments**
Property Development
**Property Costs/Water Insurance**
Buildings Insurance
Directors and Officers Insurance
Bank Charges
Accountancy
Sundry/Website)|0
380
1042
144
103
0
110|0
0
0
0
|0
380
1042
144
103
0
110|3,443
2,857
896
137
102
660
244|
||**1836**|**0**|**1836**|**8339**|
||||||
|**Net Receipts/Payments**|7207
0
7207
574||||
|Transfers between funds
Other Gains/Losses|0
0
0
0
0
0
0
0||||
|**Net Movement in Funds**|7207
0
7207
574||||
||||||
|**Total Funds Brought Forward**|64442
176,000
240442
238491||||
**LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ**
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## LoveDover Regeneration Company CIO Registered Number 1170981
## Balance Sheet
For the year ended 30 September 2023
|**Notes**
**Fixed Assets**
Property
1
**Current Assets**
Deposit Account
Current Account
**Current Liabilities**
Creditors (due under 1 year)
Net Current Assets|**General**
**Fund**
**Unrestricted**
-
49045
15398|**Restricted**
**Fund**
176,000
-|
**Totals**
**2023**
176,000
49045
15398|**Totals**
**2022**
176,000
48,725
85112|
|---|---|---|---|---|
||64443
-
64443|-
-
-|64443
-
64443|57236
-
57236|
|Total Assets|64443|176,000|240443|233236|
|**Funds Statement**|||||
|General Fund (Unrestricted)
Restricted Funds|64443|176,000|64443
176,000|57236
176,000|
|**Total Funds**|64443|176,000|240443|233236|
1 The Property at Dickens Corner, 7 Market Square, Dover is owned by the Charitable Incorporated Organisation. The property has been converted to a Café with a flat over. The flat was sold on a leasehold basis in the 2020 year.
Notes:
Closing balance for current account 2022 mis-stated and therefore corrected in these accounts following check of actual bank statement for September 2022.
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**LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ**