1
LoveDover Regeneration Company (A Charitable Incorporated Organisation)
Report and Financial Statements for the year 1 October 2023 to 30 September 2024
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 (resigned Nov 2024) John Andrew Lamoon Nigel Bodell
Bankers
Barclays Bank
LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ
2
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:
-
The advancement of education, training or retraining particularly amongst unemployed people and providing unemployed people with work experience;
-
The creation of training and employment opportunities by the provision of workspace, buildings, and/or land for use on favourable terms;
-
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 2023-24 was £1563.12.
LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ
3
Future Plans
The trustees continue to explore avenues for future funding of further regeneration in the town centre. During 2023-4, a significant development in Bench St of a Digital campus, creative centre and start up accommodation has begun at Bench St across the Market Sq. This has been funded by the Levelling Up grant scheme and initiated by the District Council. Much is hoped for from it.
Trustees have met with another local charity to discuss a joint project buut property rprices have risen , out of town speculators continue to buy up and landbank buildings and funding is very tight from the public sector.
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. Our trustees continue to encourage Market Square Kitchen to deliver on its undertakings to deliver community benefits from its commercial premises and activities. Tendering for external redecoration has taken longer than expected an is now postponed until 2025-6.
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
4
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 12 August 2025.
LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ
5
LOVEDOVER REGENERATION COMPANY CHARITABLE INCORPORATED ORGANISATION REGISTERED NUMBER 1170981
ACCOUNTS YEAR ENDED 30 SEPTEMBER 2024
LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ
6
LoveDover Regeneration Company CIO Registered Number 1170981
Statement of Financial Activities For the year ended 30 September 2024
| Note s Receipts Interest Received Rent Received Insurance Reimbursement |
General Fund Unrestricte d 725 10600 1130 |
Restricte d Fund 0 0 0 |
Totals 2024 725 10600 1130 |
Totals 2023 320 8666 57 |
|---|---|---|---|---|
| Total Receipts | 12455 | 0 | 12455 | 9043 |
| Payments Property Development Property Costs/Water Insurance Buildings Insurance Directors and Officers Insurance Bank Charges Accountancy Sundry/Website) |
0 0 1130 175 102 0 156 |
0 0 0 0 |
0 0 1130 175 102 0 156 |
0 380 1042 144 103 0 110 |
| 1563 | 0 | 1563 | 1836 |
LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ
7
LoveDover Regeneration Company CIO Registered Number 1170981
Balance Sheet
For the year ended 30 September 2024
| Notes Fixed Assets Property 1 Current Assets Deposit Account Current Account Current Liabilities Creditors (due under 1 year) Net Current Assets |
General Fund Unrestricted - 49770 25564 |
Restricted Fund 176,000 - |
Totals 2023 176,000 49770 25564 |
Totals 2022 176,000 48,725 85112 |
|---|---|---|---|---|
| - 75334 |
- - - |
75334 - 75334 |
57236 - 57236 |
|
| Total Assets | 75334 | 176,000 | 240443 | 233236 |
Notes:
1
2
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.
Closing balance for current account 2022 mis-stated and therefore corrected in these accounts following check of actual bank statement for September 2022.
LoveDover Regeneration Company is a registered charity no. 1170981 Dickens’ Corner,7 Market Sq, Dover, Kent, CT16 1LZ