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## **Company No: 10416063 Charity No: 1177817**
## **Beechwood Village Community Trust**
Annual Report and Financial Statements
**Year ended 31 March 2021**
DocuSign Envelope ID: 81DE852E-BFE2-458D-B93A-5030C0FDEFC2
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|Beechwood Village Community Trust||
|---|---|
|Year ended 31 March 2021||
|**Contents of the Annual Trustees’ Report**||
||**Page**|
|Legal and Administrative Details|1|
|Chair’s Report|2|
|Report of the Trustees|3|
|Independent Auditor’s Report|9|
|Statement of Financial Activities|13|
|Statement of Financial Position|14|
|Statement of Cash Flows|15|
|Notes to the Financial Statements|16-19|
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## **Legal and Administrative Details**
|Trustees/Directors|S Fawcett|Resigned 24 June 2020|
|---|---|---|
||R Fallon|Resigned 27 August 2020|
||C Richardson||
||D Hunt||
||T Blunsten||
||M Edwards||
||J Welsh||
||G Taylor||
||P Morley-Watts|Appointed 1 July 2020|
|Registered Office|Pilgrim House||
||High Street||
||Billericay||
||Essex||
||CM12 9XY||
|Companies House Registered Number|10416063||
|Charity Commission Registered Number|1177817||
|External Auditor|Grant Thornton UK|LLP|
||30 Finsbury Square||
||London||
||EC2A 1AG||
|Solicitors|TLT LLP||
||20 Gresham St||
||London||
||EC2V 7JE||
|Bankers|Natwest||
||29 East Walk||
||Basildon||
||Essex||
||SS14 1HD||
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DocuSign Envelope ID: 81DE852E-BFE2-458D-B93A-5030C0FDEFC2
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Beechwood Village Community Trust Year ended 31 March 2021
## **Chair’s Report**
## **Welcome to the Beechwood Village Community Trust Annual Report for the financial year to 31 March 2021**
Beechwood Village Community Trust (“BVCT”) is now in its fourth year of operation and undoubtedly, this year has been our most challenging yet. The global pandemic and the restrictions placed upon us, temporarily paused the delivery of funded projects and affected the amount of new applications coming forward for consideration. Despite this, the Trust has continued to function, has enabled projects to adapt and is now looking at ways that it can help to support the local community as we move out of lockdown.
Due to the inability to deliver face to face and the closure of the Beech Community Hub due to Covid, projects that were due to start, such as the Parents 1[st] Family Support Programme, H&L Resources, Transform and Achieve Employment Programme, and the Youth Club run by Essex Boys and Girls Club, were all deferred until the centre could reopen.
The Board of Trustees quickly adapted their ways of working and moved to meeting virtually, which enabled the business of the Trust to be continued. Trustees remain passionate about ensuring that we are able to meet our objectives and that we continue to make a difference to the residents of Beechwood Village and Craylands.
Projects receiving funding support include:
- Southend ATF – Prospects Project - Weekly outdoor sports sessions for young people aged 11-16
- The Shaddow Group – Flavasum Project – Online/face to face Music, Film and Drama Project for young people aged 10 - 18.
The Board has continued to monitor the impact and accessibility of funds during the year and following a review decided to diversify our fund portfolio to increase the number of grant funding applications it receives. We have revised our Grant Funding Policy which introduces three new funding streams:
- The ‘Give it a Go’ Fund. To encourage residents to develop an idea in response to local need, which applicants can apply to for up to £500.
- The ‘Helping Hand’ Fund. To provide financial support to families living in the area with the means to enable their children to participate in groups, activities and clubs, for which applicants can apply for up to £500.
- The ‘Big Grant’ Fund. To provide support for groups and organisations up to £20,000 over 2 years. This will provide funding certainty for a longer period of time, which will enable activities to become embedded and more sustainable.
The Trust continues to develop its website content and is committed to keeping residents and stakeholders informed of our work throughout the last year. Resident and Stakeholder newsletters were distributed to all homes on the Beechwood Village and Craylands estate (Residents Newsletters: April 2020, October 2020 and March 2021 and Stakeholder Newsletters: May 2020 and January 2021)
Trustees have continued to work collaboratively during these unprecedented times to take the Trust forward and I would like to express my sincere thanks to all of the Trustees for their continued support, expertise and enthusiasm and look forward to a brighter, less restricted, exciting year ahead in 20212022.
Peter Morley-Watts Date: 29 July 2021
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Beechwood Village Community Trust Year ended 31 March 2021
## **Report of the Trustees**
The Trustees, who are also Directors of the charitable company for the purposes of company law present their report and the financial statements year ended 31 March 2021.
## **Structure, Governance and Management**
Beechwood Village Community Trust (“BVCT”) (“the Charitable Company” or “the Charity”) was incorporated on 7 October 2016. The Charitable Company is a company limited by guarantee and hence does not have a share capital.
The Charitable Company was registered as a charity with the Charity Commission on 4 April 2018 and accepted as a charity by HM Revenue & Customs on 4 May 2018. The Charitable Company’s principal objects are to develop the capacity and skills of the members of the socially and economically disadvantaged community of the area formerly commonly known as Craylands in Basildon, Essex including that part which has been subject to regeneration and has been renamed Beechwood Village in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.
The Charitable Company will seek to utilise all its available resources on projects and initiatives which help to build the capacity of the community. It is aware that the regeneration of the area being undertaken is in its early stages and hence BVCT may initially build its resources so that they can have greater overall impact in later stages of the regeneration, whilst at the same time building the capacity of current members of the community in order that the skills they develop can be used to benefit future incoming residents also.
The governing documents of the Charitable Company are the Memorandum and Articles of Association. The Charitable Company is governed by a Board of Trustees, who meet a minimum of four times each year to ensure the proper administration of the Charitable Company and the application of its resources.
The Trustees have had regard to the Charity Commission’s guidance on public benefit https://www.gov.uk/guidance/public-benefit-rules-for-charities.
Trustees can serve for a term of three years, after which time they are eligible for re-election. The maximum time that Trustees can serve is 9 years. Trustees undertake any training considered desirable from time to time.
There have been several changes to the membership of the Board during the 2020/2021 year. The Chair of the Board, Sandra Fawcett, representing Swan Housing Association, resigned on 20 June 2020 and Rab Fallon, representing Basildon Borough Council resigned on 27 August 2020. A replacement representative has yet to nominated by Basildon Council to join the Board and this position currently remains vacant. Pete Morley-Watts, representing Swan Housing Association, joined the Board as from 1 July 2020 and was elected as Chairperson.
The current Board of Trustees is made up of the following members:
- Pete Morley-Watts – Swan Housing – Chairperson
- Caroline Richardson – Swan Housing
- Grant Taylor – Basildon Borough Council
- Debbie Hunt – Resident
- Marlon Edwards – Resident
- Toby Blunsten – Independent
- Jason Welch – Independent
New trustees are recruited through advertising in local newsletters and job search engines. Council and Swan Housing trustees are recruited through internal nominations. Independents and residents are interviewed, and all candidates have an induction.
## **Review of the year**
In the year under review, the Charitable Company received £35,500 (2020: £48,000) in donations and approved grant funding totalling £9,550 (2020: £32,140). Funding approved falls within one of two funding streams: Grants to Organisations or Commissioned Projects.
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Beechwood Village Community Trust Year ended 31 March 2021
## **Report of the Trustees (cont)**
## **Grants to Organisations**
BVCT grants can be awarded up to a maximum value of £5,000. In total, three applications have been received during the 2020/2021 financial year, as follows:
- The Active Essex Foundation – Street Tag £2,500
- Southend ATF – Prospects £5,000
- The Shaddow Group – Flavasum Project £4,550
A summary of each application received, together with the funding decision is given below.
## **The Active Essex Foundation**
At its meeting on 20 April 2020, the Board considered a grant funding application from the Active Essex Foundation in relation to Street Tag, which sought a funding contribution to the value of £2,500. Street Tag – is a mobile phone app, which encourages people of all ages to increase their participation in physical activity, through the creation of a number of ‘virtual’ markers located within the local area. Points are awarded to participants, which feed into a leader board, creating the spirit of competition amongst users.
Most of the funding for this project had been secured from the Essex Local Delivery Pilot, and the request for funding was to make up a shortfall of the total costs. The Board of Trustees gave careful consideration to this request, but did not feel that this project brought direct benefit to the residents of Beechwood Village and Craylands and for this reason the request was declined. However, the wider remit of the project, which aims to encourage the take up of physical activity, was noted and Trustees offered to support the promotion of the App through its newsletter and social media channels.
## **Southend AFT**
At its meeting held on 30 July 2020, BVCT awarded the sum of £5,000 to Southend ATF (Achievement Through Football) for the provision of weekly outdoor sports sessions for young people aged 10 – 16, for the period of one year at Northlands Park, Basildon.
Southend ATF commenced their activities at Northlands Park and continued over the course of the Summer and Autumn, until October 2020. The outdoor sessions were paused due to increasing numbers of Covid 19 cases but Southend ATF were able to relocate to Briscoe Primary School, where they were able to run a half-term holiday club. Seventy young people attended each day, for all 5 days during the holiday, and all received a free lunch.
Sessions continued within Briscoe Primary School during November and December 2020, in order to maintain continued engagement with the young people and their families. At Christmas, Southend ATF delivered food parcels to around 70 families within the Northlands Park area. They also commenced 1- 2-1 sessions for those who were home schooling and provided activity packs for children. Southend ATF also set up ‘FayreShare’ for deliveries of excess food from Tesco to the families they engaged with.
Activity was suspended during the first two weeks of January 2021, as there had been a further surge in Covid-19 cases and the national lockdown was invoked. However, 1-2-1 coaching resumed for children of families at risk and for those children of key workers who were attending Briscoe School. The Club restarted afterschool activity sessions from 8 March 2021 when all children were permitted to return to school as part of easing measures.
Activities held at Briscoe School were all outdoors and ran four days a week (Mon, Weds, Thurs & Fri) with each session attracting between 15/20 children, 60-80 children per week. Activities resumed delivery from Northlands Park on 12 April 2021 and will continue to run until June 2021.
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## **Report of the Trustees (cont)**
## **The Shaddow Group**
At its meeting held on 22 October 2020 the Trust awarded the sum of £4,550 to the Shaddow Group, for the provision of the ‘Flavasum’ Project: a music, film and drama project for children and young people aged 10 – 18. The project already had a proven track record after being successfully piloted at the Laindon Community Centre.
The project was originally planned to be delivered face to face but was adapted to run online due to the lockdown restrictions. The project ‘officially’ commenced from 4 January 2021 and work to promote the online sessions more widely across Beechwood Village and Craylands was undertaken during January, February and March 2021. Engagement was challenging and numbers of young people signing up were low despite a leaflet drop, poster campaign and social media advertising.
However this has enabled a revised period of delivery to be negotiated with the Shaddow Group and the project start date was set back to 1 April 2021, which will see the project extended to finish at the end of March 2022.
Children and young people can meet online with the support of Shaddow Group staff, where they can learn and practice their musical and acting skills. Each week they are assigned a weekly task for completion during the week. It is anticipated that this project will return to face to face delivery from the Beech, from 28 June 2021, as a result of restrictions being eased and it is anticipated that this will significantly increase number of young people engaging.
## **Broadening Our Reach**
Whilst the pandemic posed a unique set of challenges in relation to the commencement and delivery of projects, it also provided an opportunity for reflection. The Trustees were prompted to consider how the Trust could make its funding more accessible to both residents and stakeholders, in order to encourage an increase in funding applications to bring greater community benefit to the neighbourhood.
Trustees recognised that the impact of the pandemic directly affected families and children through job losses and food poverty. The decrease in the number of funding applications being received by the trust has also been a concern despite having a new website in place to promote the work of the Trust.
In order to widen the reach of the Trust and make funding more accessible, a review was undertaken of its Grant Funding Policy. Instead of having just one fund available to applicants, Trustees developed three brand new funding streams which aim to target different areas of benefit.
- The ‘Give it a Go’ Fund: which aims to encourage residents to develop an idea in response to local need, to which applicants can apply for up to £500. This funding can be awarded to an individual who wants to get something going, such as an after-school Art Club, a Coffee Morning for older, vulnerable people, or a Mums Keep Fit session.
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## **Report of the Trustees (cont)**
- The ‘Helping Hand’ fund: which provides financial support to families living in the area with the means to enable their children to participate is groups, activities and clubs for which applicants can apply for up to £500. This fund can be used to provide resources for children and young people whose families are in receipt of Universal Credit, to directly support an afterschool activity to make a contribution to the purchase of school uniforms.
- The ‘Big Grant’ Fund; which has the scope to provide support to groups and organisations up to £20,000 over 2 years. This will provide funding certainty for a longer period of time, which will enable activities to become embedded and sustainable. Applicants to this fund will be required to complete a more comprehensive application which will need to complete more robust monitoring requirements but will enable the applicants to develop their projects and consider ways to sustain activity after the period of BVCT grant funding has ended.
The original ‘Grants to Organisations’ Fund still remains in place, which can provide applicants with up to £5,000 for a project lasting up to one year.
In addition to work undertaken to make funding more accessible, a Communications Plan was developed which aimed to help raise the profile of the Trust. As part of this work a presentation was made to the Basildon Community Involvement Network on 20 January 2021. Work has also begun on a range of promotional materials to showcase the new funding pots and these will be distributed across our networks and to residents in hard copy and through social media.
## **Previously Funded Projects:**
At the beginning of the year no one could have predicted the impact that the global pandemic was to have on the country or the way it would affect our way of life. During this time, most of the projects that were up and running, ceased. All activity was suspended by Beechwood Boxercise, as the Beech Community Hub had to close its doors and organisers did not wish to move to online delivery.
Junior Parkrun was suspended, as large gatherings of people were not permitted outside. Essex Boys and Girls Club had no sooner publicised their launch date of 1 April 2020, when at the end of March 2020, the first lockdown was invoked.
The Beech Community Hub closed its doors and has remained closed for over a year. Both The 10week Family Support Programme to be run by Parents 1st and the Transform and Achieve Programme, to be delivered by H&L Resources, were both postponed due to the closure of the Hub.
The Government messages in relation to the virus encouraged people to ‘wash hands, stay at home, stay safe’ and so by its very nature, work to encourage and develop community volunteers to step up in their community, could not be taken forward.
The first lockdown was followed by a second and third lockdowns in November 2020 and January 2021, respectively, preventing much of the work of the trust from continuing. As we move into the 2021-2022 year, lockdown measures are beginning to ease, the days are getting longer and the trust is now ready to begin its work again, reaching out to the local community to continue what we have already started, with a bigger, better range of funding streams and increased opportunity for all.
## **Resident and Stakeholder Newsletters**
Over the course of the last year, five newsletters for both Residents and Stakeholders have been produced, bringing up to date news on the work of the Trust to the local community. Residents Newsletters are distributed to residients of both Beechwood Village and Craylands, which reach over 700 homes. Newsletters to residents were distributed in April 2020, October 2020 and March 2021.
Stakeholder newsletters are distributed via e-mail to approximately 40 local businesses, statutory and voluntary and community sector partners. Two newsletters were produced for Stakeholders, which were distributed in May 2020 and January 2021.
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## **Report of the Trustees (cont)**
The Charitable Company’s reserve policy which stated a minimum reserve balance of £20,000 (2020: £20,000) was observed throughout the year.
## **Going concern**
Grants are only awarded when cash is available. Administrative support is currently provided by Swan Housing Association Limited, a member of the Charitable Company, for no charge. The Charitable Company anticipates the receipt of further donations for the foreseeable future, being a period of at least 12 months after the date on which the accounts are signed. Therefore, the Trustees are able to have a reasonable expectation that the charitable company has sufficient resources to continue in operational existence for a period of not less than 12 months from the date of approval of these financial statements.
## **Directors’ Indemnity Insurance**
The Charitable Company maintains Directors’ and officers’ liability insurance for its Trustees and officers, which is renewed annually.
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## **Report of the Trustees (cont)**
## **Trustees Responsibilities Statement**
The Trustees (who are also directors of Beechwood Village Community Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law including FRS 102). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable Company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees confirm that:
- so far as each Trustee is aware, there is no relevant audit information of which the Charitable Company’s auditor is unaware; and
- the Trustees have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the Charitable Company’s auditor is aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of Section 418 of the Companies Act 2006.
## **Reference and administrative details**
These are given on page 1 of the Annual Report.
## **Auditor**
A resolution to reappoint Grant Thornton UK LLP as auditor of the Charitable Company is to be proposed in accordance with Section 485 Companies Act 2006.
In preparing this report, the Trustees have taken advantage of the small companies exemption in Part 15 of the Companies Act 2006.
Approved by the Board of Trustees and signed on their behalf:
Peter Morley-Watts Trustee Date: 29 July 2021
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## **Independent Auditor's Report to the Members of Beechwood Village Community Trust**
## **Opinion**
We have audited the financial statements of Beechwood Village Community Trust (the ‘charitable company’) for the year ended 31 March 2021, which comprise the Statement of Financial Activities (incorporating a profit and loss account), the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102; The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2021 and of its incoming resources and application of resources including, its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We have been appointed as auditor under the Companies Act 2006 and report in accordance with regulations made under that Act. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the ‘Auditor’s responsibilities for the audit of the financial statements section’ of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We are responsible for concluding on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the company to cease to continue as a going concern.
In our evaluation of the trustees’ conclusions, we considered the inherent risks associated with the charitable company’s business model including effects arising from macro-economic uncertainties such as Brexit and Covid-19, we assessed and challenged the reasonableness of estimates made by the trustees and the related disclosures and analysed how those risks might affect the charitable company’s financial resources or ability to continue operations over the going concern period.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
The responsibilities of the trustees with respect to going concern are described in the ‘Responsibilities of trustees for the financial statements’ section of this report.
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## **Independent Auditor's Report to the Members of Beechwood Village Community Trust (cont)**
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees, prepared for the purposes of company law, for which the financial statements are prepared is consistent with the financial statements.
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
## **Matter on which we are required to report under the Companies Act 2006**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies’ exemptions in preparing the report of the trustees and from the requirement to prepare a strategic report.
## **Responsibilities of trustees for the financial statements**
As explained more fully in the Trustees' Responsibilities Statement set out on pages 3 to 8, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes
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## **Independent Auditor's Report to the Members of Beechwood Village Community Trust (cont)**
our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant which are directly relevant to specific assertions in the financial statements are those related to the reporting framework FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, the Companies Act 2006, and the Charities SORP.
- We assessed the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur and the risk of management override of controls. Audit procedures performed by the engagement team included:
- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
- Identifying and testing journal entries; and
- Identifying and testing related party transactions.
- Assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team's understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation.
- In assessing the potential risks of material misstatement, we obtained an understanding of:
- the entity's operations, including the nature of its income sources and of its objectives and strategies to understand the classes of transactions, account balances, expected financial statement disclosures and business risks that may result in risks of material misstatement;
- the entity's control environment, including management’s knowledge of relevant laws and regulations and how the company is complying with those laws and regulations, the adequacy of procedures for authorisation of transactions, and procedures to ensure that possible breaches of law and regulations are appropriately resolved.
- We enquired of management and the Board of Trustees about the company’s policies and procedures relating to the identification, evaluation and compliance with laws and regulations and the detection and response to the risks of fraud and the establishment of internal controls to mitigate risks related to fraud or noncompliance with laws and regulations.
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## **Independent Auditor's Report to the Members of Beechwood Village Community Trust (cont)**
- We enquired of management and the Board of Trustees, whether they were aware of any instances or noncompliance with laws and regulations or whether they had any knowledge of actual, suspected or alleged fraud.
- These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. However, detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as those irregularities that result from fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Joanne Love LLB FCA Senior Statutory Auditor for and on behalf of Grant Thornton UK LLP Statutory Auditor, Chartered Accountants London
15 December 2021
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DocuSign Envelope ID: 81DE852E-BFE2-458D-B93A-5030C0FDEFC2
Commercial in confidence
Beechwood Village Community Trust Year ended 31 March 2021
## **Statement of Financial Activities (incorporating Profit and Loss account)**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**1 April 2020 to**|**1 April 2019 to**|
||**Notes**|**31 March 2021**|**31 March 2020**|
|||**£**|**£**|
|Income received – donations and gifts in kind||37,397|49,843|
|**Total income received**|2|37,397|49,843|
|Expenditure on charitable activities|3|(9,550)|(35,814)|
|Other expenditure|4|(4,534)|(5,540)|
|Bank interest received||47|159|
|**Surplus / net movement in funds**||23,360|8,648|
|**Reconciliation of funds**||||
|Total funds brought forward||96,999|88,351|
|Total funds carried forward||120,359|96,999|
The notes on pages 16 to 19 form part of these financial statements.
All of the Charitable Company’s operations are classified as continuing. There were no gains or losses other than those included in the Statement of Financial Activities above.
13
DocuSign Envelope ID: 81DE852E-BFE2-458D-B93A-5030C0FDEFC2
Commercial in confidence
Beechwood Village Community Trust Year ended 31 March 2021
## **Statement of Financial Position**
|**tatement of Financial Position**|||
|---|---|---|
|**Notes**
**Current assets**
Prepayments
Cash at bank and in hand
Creditors – amounts falling due within one year
5
**Net current assets being net assets**
**Capital and reserves**
Share capital
6
Reserves (Unrestricted)
(Restricted)
7
**Total Charity funds**|**2021**
**£**
2,171
140,765
_______
142,936
(22,577)
_______
120,359
-
120,359
-
120,359|**2020**
**£**
-
118,605
_______
118,605
(21,606)
_______
96,999|
|||-
96,999
-|
|||96,999|
The notes on pages 16 to 19 form part of these Financial Statements.
The financial statements were approved and authorised for issue by the Board of Trustees on 29 July 2021 and were signed on its behalf by:
Peter Morley-Watts Trustee
Company Number: 10416063
14
DocuSign Envelope ID: 81DE852E-BFE2-458D-B93A-5030C0FDEFC2
Commercial in confidence
Beechwood Village Community Trust Year ended 31 March 2021
## **Statement of Cash Flows**
|**tatement of Cash Flows**||||
|---|---|---|---|
||**Notes**|**1 April 2020**|**1 April 2019**|
|||**to 31 March**|**to 31 March**|
|||**2021**|**2020**|
|||**£**|**£**|
|Net cash inflow from operating activities|A|22,160|29,254|
|**Net movement in cash and cash equivalents**||22,160|29,254|
|Cash and cash equivalents at beginning of the period||118,605|89,351|
|**Cash and cash equivalents at end of the period**||140,765|118,605|
## **A. Reconciliation of surplus to net cash inflow from operating activities**
||**1 April 2020**|**1 April 2019**|
|---|---|---|
||**to 31 March**|**to 31 March**|
||**2021**|**2020**|
||**£**|**£**|
|Surplus|23,360|8,648|
|_Add back:_|||
|Increase in debtors|(2,171)|-|
|Increase in creditors|971|20,606|
|**Net cash inflow from operating activities**|22,160|29,254|
The notes on pages 16 to 19 form part of these Financial Statements.
15
DocuSign Envelope ID: 81DE852E-BFE2-458D-B93A-5030C0FDEFC2
Commercial in confidence
Beechwood Village Community Trust Year ended 31 March 2021
## **Notes to the Financial Statements**
## **1. Accounting policies**
Beechwood Village Community Trust is a Charitable Company limited by guarantee. Beechwood Village Community Trust is incorporated and domiciled in England and Wales. The members are Swan Housing Association Limited and Basildon Borough Council. In the event of the Charitable Company being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charitable Company.
The financial statements are prepared in accordance and compliance with applicable United Kingdom accounting standards including FRS102 and the Companies Act 2006, and the Statement of Recommended Practice: Accounting and Reporting by Charities.
The significant accounting policies adopted are described below.
## **Going concern**
Grants are only awarded when cash is available. Administrative support is currently provided by Swan Housing Association Limited a member of the Charitable Company for no charge. The Charitable Company anticipates the receipt of further donations for the foreseeable future, being a period of at least twelve months after the date on which the accounts are signed. Therefore, the Trustees are able to have a reasonable expectation that the charitable company will be able to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being the period to March 2023.
## **Accounting convention**
The financial statements are prepared under the historical cost convention.
## **Significant judgements and estimates**
The preparation of financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the year end and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Due to the nature of the Charitable Company’s activities, the Trustees consider that there are no significant judgements or key sources of estimation uncertainty.
## **Taxation**
The Charitable Company has been accepted as a Charity and consequently is exempt from taxation on its surpluses provided its resources are utilised for charitable activities.
## **VAT**
The Charitable Company is not registered for VAT and consequently its expenditure is shown inclusive of VAT, where applicable.
## **Incoming resources**
All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt.
## **Donations**
Donations are recognised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised.
16
DocuSign Envelope ID: 81DE852E-BFE2-458D-B93A-5030C0FDEFC2
Commercial in confidence
Beechwood Village Community Trust Year ended 31 March 2021
## **Notes to the Financial Statements (cont.)**
## **1. Accounting policies (cont.)**
## **Gifts in kind**
Where goods or services are gifted to the Charitable Company, the estimated fair value of such goods and services are recorded gross in income and expenditure.
## **Grants made**
Where grants are made these are reported as expenditure in accordance with the terms of the grant offer letter, and are recognised at the point a commitment is made by the Charitable Company, i.e. when approved by Trustees.
## **Financial instruments**
Other than its cash balance, accrual for audit fees and trade creditors, the Charitable Company has no financial assets or financial liabilities as defined in Section 11 of FRS102.
## **Related party disclosures**
Transactions with related parties are reported in accordance with Section 33 of FRS102.
## **2. Analysis of Charitable Income**
The Charitable Company generates income from the following key activities.
||**1 April 2020 to**|**1 April 2019 to**|
|---|---|---|
||**31 March 2021**|**31 March 2020**|
||**£**|**£**|
|Donations|35,500|48,000|
|Gifts in kind|1,897|1,843|
||**37,397**|**49,843**|
During the year the Charitable Company received £1,897 (2020: £1,843) of non-monetary donations in support of Charity administration and projects. This amount is included in both the income and charitable expenditure (note 4).
17
DocuSign Envelope ID: 81DE852E-BFE2-458D-B93A-5030C0FDEFC2
Commercial in confidence
Beechwood Village Community Trust Year ended 31 March 2021
## **Notes to the Financial Statements (cont.)**
## **3. Expenditure on charitable activities**
The Charitable Company undertakes its charitable activities through creating, delivering and funding projects that help to build the capacity of the local community. The following is an analysis of grants made in the year.
||**1 April 2020 to**|**1 April 2019 to**|**1 April 2019 to**|
|---|---|---|---|
||**31 March 2021**|**31 March 2020**||
||**£**||**£**|
|Southend ATF|5,000||-|
|Shaddow Group|4,550||-|
|Beechwood Boxercise|-||3,168|
|Essex Boys & Girls Club|-|19,208||
|Parents 1st|-||4,764|
|H&L Resources|-||5,000|
|Participatory City|-||3,674|
|**Total**|**9,550**|**35,814**||
The Charitable Company had no employees in the year or the preceding period and the Trustees did not receive any remuneration for their qualifying services (2020: £nil).
## **4. Other expenditure**
||**1 April 2020 to**|**1 April 2019 to**|
|---|---|---|
||**31 March 2021**|**31 March 2020**|
||**£**|**£**|
|Operating surplus is stated after charging:|||
|Auditor’s remuneration for the audit of the Charitable|||
|Company’s financial statements|1,000|1,000|
|Bank charges|52|52|
|Insurance|1,505|1,445|
|Marketing|80|1,200|
|Services in kind (note 2)|1,897|1,843|
||______|______|
|**Total**|**4,534**|**5,540**|
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DocuSign Envelope ID: 81DE852E-BFE2-458D-B93A-5030C0FDEFC2
Commercial in confidence
Beechwood Village Community Trust Year ended 31 March 2021
## **Notes to the Financial Statements (cont)**
## **5. Creditors: amounts falling due within one year**
|Audit fee accrual
Website build accrual
Trade Creditors
Grants Payable
**Total**|**2021**
**£**
1,000
-
2,171
19,406
**22,577**|**2020**
**£**
1,000
1,200
-
19,406|
|---|---|---|
|||**21,606**|
## **6. Called Up Share Capital**
The Charitable Company is a company limited by guarantee and consequently has no share capital. The amount guaranteed at the year end by the Charitable Company’s two members was £2 (2020: £2).
## **7. Reserves**
Profit and loss account includes all current and prior year retained profits and losses.
## **8. Members**
The members of the Charitable Company are Swan Housing Association Limited and Basildon Borough Council.
## **9. Related Party Transactions**
The following transactions took place between the Charitable Company and Swan Housing Association Limited (a member of the Charitable Company):
- Donations totalling £30,000 were received (2020: £45,000).
- The provision of services in connection with the Charitable Company’s general administration and support developing charitable projects £1,897 (2020: £1,843) services in kind.
The following transactions took place between the Charitable Company and Swan New Homes Limited (a subsidiary of Swan Housing Association Limited):
- Donations totalling £5,500 (2020: £3,000) were received.
No balances were outstanding between the related parties above as at 31 March 2021 or 31 March 2020.
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