Trustees Annual Report 2022/2023 Bedford Street Community Company Ltd
Bedford Street Community Company Limited (A company limited by guarantee) Financial Statements For the Year Ended 31 March 2023
Contents - Legal and Administrative Information - Report of the Management Committee - Statement of Financial Activities Balance Sheet Notes forming part of the financial statements.
Report of the Management Committee for the year ended 31 March 2023
The Management Committee presents its directors’ report and independently examined financial statements for the year ended 31 March 2023.
Reference and Administrative Information
Charity Name: Bedford Street Community Company Ltd. Charity registration number: 1177026. Company registration number: 06118581 Registered Office and operational
address: Foryd Centre, Princes Street,Rhyl LL181LS.
Management Committee – Ms Nicola Jones Chair, Ms Katie Davies Treasurer, Mr M Hughes Trustee, Ms H Walker Trustee. Accountants – Mr S. P. Kell Unit 7a, Lon Parcwr, Ruthin LL15 1NJ
Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are:
Our Aims and objectives
To further or benefit the residents of Rhyl and the surrounding area, without distinction of sex, sexual orientation, race or of 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 with the objective of improving the conditions of life for the residents and The prevention and relief of poverty and financial hardship in Rhyl and the surrounding area,
Our aims fully reflect the purposes that the charity was set up to further.
Ensuring our work delivers our aims.
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
How our activities deliver public benefit.
The focus of our work remains to provide benefit and money advice to the local community, to support clients with finding employment by providing advice, support and guidance with employment searches, applications and CVs, to offer good quality work experience and volunteering opportunities, to provide food support for those facing food insecurity, to provide a community transport and lunch club facility for our older clients and to have a community café that is a warm and welcoming social hub of the community.
Amount of persons using the centre.
From April 2022 to April 2023, the number of persons accessing the centre has increased from 7,450 to 9,350 The increase appears to be due to the issues caused by the Cost of Living crisis which has caused a huge increase in demand for our services particularly benefits advice and food support.
Employment advice and training.
We have provided advice on employment and training to over 280 persons with most support being required with job applications and the preparation of CVs. We have
delivered support to those seeking employment by providing regular updates on our website re new job listings and training courses and have been able to offer accredited training courses on Level 1 and 2 Food Hygiene, Allergen Awareness and Customer Service Level 1via our Community Bakery and Community Café.
.
Benefits and Money Advice.
The demand for our Benefit and Welfare advisor services has grown significantly. Our advisor has been mainly helping clients with Personal Independence claims, Pension Credits, discretionary payments and personal grants and have several trained volunteers to deal with basic claims such as Universal Credit. Over this period we have provided support to over 940 individuals and successfully claimed over £750,000 in benefits for local people. We have also secured funding to provide £50 energy grants to over 130 vulnerable local residents.
Food Bank
Our last year from March 2022 to beginning of April 2023 has been extremely challenging for our food bank with referrals up by over 200%. People have been struggling due to loss of or reduction in income due the rise in the cost of living and increased energy and housing costs. A great deal of our resources are still supporting have gone to supporting those residents in temporary accommodation, some of whom have been there for over 12 months. This has proved challenging as most are now living in local hotels where there are limited cooking options and many have only a kettle. We secured extra funding to supply them with toasters, slow cookers ,airfryers crockery and cutlery as well as suitable food items. Referrals are still on the increase and we now have at least 22 agencies referring their clients to us. At Christmas we secured funding to supply 100 Christmas Hampers to the local community and provided toys for 125 families. Referrals came from local councillors, older persons groups, social services, family support services and housing associations.
Community Café.
Footfall in the café has increased and is up by approximately 40% from 2021/22. To combat the rise in food poverty and the increasing cost of living, we have increased the provision of our £1 Lunch Club every Wednesday to include 2 sittings and are serving over 80 lunches– this is open to all and is widely used by families, older persons and those living in hostels and other temporary housing. We still offer our £1 breakfast on Thursdays and Fridays and are now serving between 90 and 120 people per day. The café is open 3 days per week. It has been decided that this method of delivery works best for the staff and volunteers as they have sufficient time to prepare food ready for service and also to use one day for cleaning and training.
Community Transport.
Funding was received to continue this project for 2022/23 and we hope that this will continue for the following year. The funding is for approximately £12,500 which pays the salary of a part time driver. The minimal charges applied fund the
insurance, fuel and repairs of the vehicle. The number of journeys increased to 5850 in 2022/23. We have built up new partnerships with Social Services and the Local Health Board that has contributed to an increase in journeys and revenue as more hospital journeys are now being made.
Volunteers
We now have 37 volunteers who work at the centre/bakery on a regular basis. We have managed to recruit further additional new volunteers for reception, foodbank, community bakery and community café. We now have a dedicated volunteer coordinator who focuses on recruitment and training which has helped to bolster the number of volunteers and to provide a comprehensive training programme. This year 4 of our volunteers have moved into employment.
Community Bakery .
This has been a very busy year for the bakery with every training day available filled with local residents, community groups, local schools and SEN educational establishments. We have offered taster days, community themed baking events and family days. We have been able to sell high quality, handmade products at affordable prices and donate any unsold items to our foodbank.
Accounts Accounts to March 31st 2023 are provided with this annual report and have been accepted by the Trustees on 2nd January 2024.
Financial Review
The majority of monies received by the organisation is in the form of grant funding and is restricted funding.
We receive £35,000 annually from Henry Smith Charity as funding for project manager and other core costs, £12,500 for the salary of the Community Transport driver and running costs for the Community Vehicle, £76,500 per annum from The National Community Lottery for the Community and have received £40,000 from Independent Age Foundation .The remaining funding comes in the form of smaller grants, many of which were directly related to providing services to deal with Cost of Living or food poverty issues. There has been an increase in the income generated by the Community Cafe and a slight increase in the income generated by Community Transport mainly due to the higher number and longer nature of journeys taken.
Investment Policy
Aside from retaining an amount in reserves each year, equivalent to 6 months running costs, most of the charity’s funds are to be spent in the short term so there are no funds for long term investment
Reserves Policy
The Charity has a larger reserve of £106,047 this year, a percentage of which will again be used to cover the structural repairs to the building that have been identified by landlord Clwyd Alyn and to develop new projects that are deemed of community
benefit due to the impact of the cost of living crisis on the local community.
Structure
The organisation is a charitable company limited by guarantee, incorporated on 20th February 2007 and registered as a charity on 8 6th February 2018. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Recruitment and Appointment of Management Committee
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association
the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. All member of the Management Committee give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity will be set out in the accounts.
Future Plans
The focus of our plans in the short term will be to concentrate specifically on providing food support and money advice to the local community. We have plans to develop a small cooking school within the Community Bakery and we are working with Denbighshire County Council and other partners to establish a countywide approach to food provision for those struggling with food insecurity.
We are working with Clwyd Alyn to discuss the potential purchase of the building which will allow us to pursue more grant funding options for its refurbishment.
Other
The Trustees would like to thank all the volunteers, without whom the Foryd Centre would be unable to deliver such welcoming, caring and much needed services.
Signed on behalf of the Board of Trustees 02/01/2024 Signed ……NICOLA JONES (CHAIRPERSON)………………………………..
Signed……FIONA DAVIES (PROJECT MANAGER)……………………………
REGISTERED NUMBER: 06118581 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
BEDFORD STREET COMMUNITY COMPANY LTD
S P Kell Chartered Accountants Unit 7a Lon Parcwr Business Park Ruthin Denbighshire LL15 1NJ
BEDFORD STREET COMMUNITY COMPANY LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |
|---|---|
| Income Statement | 1 |
| Balance Sheet | 2 |
| Chartered Accountants' Report | 4 |
| Detailed Income and Expenditure Account | 5 |
| Detailed Balance Sheet | 7 |
BEDFORD STREET COMMUNITY COMPANY LTD
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023
| TURNOVER Cost of raw materials and consumables Staff costs Depreciation and other amounts written off assets Other charges Taxation SURPLUS |
31.3.23 £ 230,366 (17,275) (139,578) (6,014) (37,643) - 29,856 |
31.3.22 £ 198,644 (8,823) (125,945) (2,676) (37,260) - 23,940 |
|---|---|---|
Page 1
BEDFORD STREET COMMUNITY COMPANY LTD (REGISTERED NUMBER: 06118581)
BALANCE SHEET 31 MARCH 2023
| 31.3.23 £ FIXED ASSETS CURRENT ASSETS NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES RESERVES NOTES TO THE FINANCIAL STATEMENTS |
31.3.22 £ £ 11,596 94,451 94,451 106,047 106,047 |
£ 20,010 56,181 |
|---|---|---|
| 56,181 | ||
| 76,191 | ||
| 76,191 | ||
1. STATUTORY INFORMATION
Bedford Street Community Company Ltd is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address are as below:
Registered number: 06118581
Registered office:
The Foryd Centre The Old Church Princes Street Rhyl Denbighshire LL18 1LE
2. AVERAGE NUMBER OF EMPLOYEES
The average number of employees during the year was 7 (2022 - 7).
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
-
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
continued...
Page 2
BEDFORD STREET COMMUNITY COMPANY LTD (REGISTERED NUMBER: 06118581)
BALANCE SHEET - continued 31 MARCH 2023
The financial statements have been prepared in accordance with the micro-entity provisions.
The financial statements were approved by the Board of Directors and authorised for issue on 14 December 2023 and were signed on its behalf by:
Ms K L Davies - Director
Page 3
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED FINANCIAL STATEMENTS OF BEDFORD STREET COMMUNITY COMPANY LTD
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bedford Street Community Company Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Bedford Street Community Company Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bedford Street Community Company Ltd and state those matters that we have agreed to state to the Board of Directors of Bedford Street Community Company Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bedford Street Community Company Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Bedford Street Community Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bedford Street Community Company Ltd. You consider that Bedford Street Community Company Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bedford Street Community Company Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
S P Kell Chartered Accountants Unit 7a Lon Parcwr Business Park Ruthin Denbighshire LL15 1NJ
14 December 2023
This page does not form part of the statutory financial statements
Page 4
BEDFORD STREET COMMUNITY COMPANY LTD
DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023
| Turnover Shop takings Vehicle & cafU takings Grants and donations Bakery takings Cost of sales Purchases GROSS SURPLUS Expenditure Rent Rates and water Insurance Light and heat Wages Pensions Telephone Post and stationery Advertising & promotion Motor expenses Repairs and renewals Sundry expenses Training Accountancy Professional fees Finance costs Bank charges Depreciation Fixtures and fittings Motor vehicles Computer equipment Carried forward |
31.3.23 £ 3,085 1,946 218,575 6,760 12,200 444 1,817 5,639 133,083 6,495 1,118 587 - 5,193 8,295 186 923 540 604 1,865 987 962 |
£ 230,366 17,275 213,091 177,124 35,967 97 35,870 3,814 32,056 |
31.3.22 £ 5,450 1,509 191,685 - 8,886 610 3,459 4,294 118,445 7,500 1,265 1,406 1,166 3,430 10,539 656 264 660 602 2,331 2,383 962 |
£ 198,644 8,823 |
|---|---|---|---|---|
| 189,821 163,182 |
||||
| 26,639 23 |
||||
| 26,616 5,676 |
||||
| 20,940 |
This page does not form part of the statutory financial statements
Page 5
BEDFORD STREET COMMUNITY COMPANY LTD
DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023
| 31.3.23 £ Brought forward (Loss)/profit on disposal of fixed assets Motor vehicles NET SURPLUS |
31.3.22 £ £ 32,056 (2,200) 29,856 |
£ 20,940 3,000 |
|---|---|---|
| 23,940 |
This page does not form part of the statutory financial statements
Page 6
BEDFORD STREET COMMUNITY COMPANY LTD
| FIXED ASSETS Fixtures and fittings Motor vehicles Computer equipment CURRENT ASSETS Bank account no. 1 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS RESERVES Income and expenditure account |
DETAILED BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023 31.3.23 £ 7,459 3,947 190 11,596 94,451 94,451 106,047 106,047 106,047 |
31.3.22 £ 9,324 9,534 1,152 |
|---|---|---|
| 20,010 | ||
| 56,181 56,181 |
||
| 76,191 | ||
| 76,191 | ||
| 76,191 |
This page does not form part of the statutory financial statements
Page 7
Independent Examiner's Report to the Trustees of Bedford Street Communlty Company Ltd {'the Company'> I report to the charity trustees on my examination of the accounts of the Company for the year ended 3181 March 2023. Responslbilities and basls of report As the charity's Iruslees of the Company land also Ils directors for the purposes of Company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companie5 Act 20061'lhe 2006 Act'i. Having satisfied myself that the a¢count5 of the Company are not requlred lo be audited under Part 16 of the 20Q6 Act and are eligible for independent examination, I report in respect of my examination of your chBrily'5 accounts as carrted out under section 145 of the Charities Act 2011 {'Ihe 2011 Act,). In carrylng out my examlnalion I have followed the Dlrecllons glven by the Charity Commission under section 145(5} Ibl of the 2011 Act. Independent examlner'$ statement I confirm that l am qualifled to undertake the examinatlon because l am a member of the Institute of Chart@rèd Accountants in England and Wales, which Is one of the listed bodles. I have completed my examinalk)n. I conflrm that no mallers have come lo my attention in connection with Ihe examinatlon gSving me cause to believe.. 1. accountlng records were not kept In respect of the Company as requlred by se¢tton 386 of the 2006 Act., or 2. the accounts do nol eccord with those re¢ords,' or 3. the accounlB do not comply with the accounting requlrements of sectlon 396 of the 2006 Act other than any requirement that the accounts glve a 'lrue and fair vlew whlch is not a maller consSdered as part of an Independent examination., or 4. the accounts have not been prepared In accordance with thè methods and princlples of the Statement of Recommended Practice for accounting and reporting by charilies lapplicable lo charlties preparing Ihelr accounts in accordanc6 with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 10511. I have no concerns and have come across no other matlers in connèction with the examlnation to which attention should be drawn in this report In order to enable a proper underslandlng of the acrounls lo be reached. Steven Paul Kèll FCA SP Kell Ltd Chartered Accountants Unil 78 Lon Parcwr Buslness Park Ruthin Denbighshire LL15 1NJ 14th Dember 2023 Steveii K¢ifL¢& Vitsi 70, LoiiQlTTa1JrQiistiitTT¢Ptt Wi¢fiiii ££1SJJY.' CogWt>.' 0843JJ33