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2023-12-31-accounts

Somerdale Pavilion Trust (A Company Limited by Guarantee)

Report of the Trustees and financial statements Company registration number 11730938 Registered charity number 1182426

Year ended 31 December 2023

Somerdale Pavilion Trust

Contents

Trustees and advisors 1
Report of the Trustees 2
Independent auditor’s report to the Trustees of 7
Somerdale Pavilion Trust
Statement of financial activities 11
Balance sheet 12
Notes 13

Somerdale Pavilion Trust

Trustees and advisors

Trustees H L M Bothamley (resigned 18 October 2023)
L A Freed
P J Rilett
T S Ross
R T Wynn-Jones
Company number 11730938
Registered charity number 1182426
Registered office c/o St Monica Trust
Cote Lane
Bristol
BS9 3UN
Business address Tiberius Road
Keynsham
Bristol
BS31 2FF
Auditors Bishop Fleming
10 Temple Back
Bristol
BS1 6FL
Banker NatWest Bank
32 Corn Street
Bristol
BS99 7UG

1

Somerdale Pavilion Trust

Report of the Trustees For the year ended 31 December 2023

The Trustees present their report along with the financial statements of the charity for the year ended 31 December 2023.

Governing document

Somerdale Pavilion Trust is a company limited by guarantee, incorporated on 17 December 2018 and registered as a charity on 17 December 2018. The charity was established under a Memorandum of Association which established the objects and powers of the charity and is governed under its Articles of Association. In the event of the charity being wound up each member promises to pay up to £1 towards the costs of dissolution and the liabilities incurred by the charity while the contributor was a member. The charity registration number, company number, principal office and registered office are noted on page one.

Directors and Trustees

St Monica Trustee Company Limited (a company limited by guarantee registered number 9357207) is the sole member of Somerdale Pavilion Trust.

The Directors of the charity are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The Trustees who served throughout the year are noted on page one. The Trustees are appointed and serve in accordance with the Articles of Association. The Trustees meet four times per year or more if required. The Trustees receive no remuneration from the charity.

The Board is composed of no fewer than three Trustees and is not subject to any maximum, with up to five Trustees appointed by the member. The Trustees may appoint further persons to be Trustees.

The Trustees appoint a Chairperson amongst themselves prior to a Trustee meeting taking place. Sub- groups and advisory boards can also be appointed to provide other resources of expertise.

Each Trustee is appointed for a three-year term. At the end of each term a Trustee shall retire from office but may be reappointed to serve no more than three consecutive terms of office.

The charity’s legal advisors have worked with the Trustees to compile a Trustees’ Policies document, as well as a Governance Timetable. They also provide legal and regulatory updates as required, to ensure that the Trustees' knowledge remains current.

Statement of Trustees’ responsibilities in respect of the Report of the Trustees and the financial statements

The Trustees are responsible for preparing the Trustees’ Annual Report 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 they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

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 income and expenditure for that period. In preparing those financial statements, the Trustees are required to:

2

Somerdale Pavilion Trust

Report of the Trustees For the year ended 31 December 2023

Statement of Trustees’ responsibilities in respect of the Report of the Trustees and the financial statements continued

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 charitable company and enables them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

Objects and activities of the charity

The objects of the charity are, for the public benefit:

  1. the provision and maintenance of a pavilion, playing fields and other facilities for the use of the inhabitants of Keynsham and the surrounding areas without distinction of political, religious or other opinions, including use for:

  2. (a) meetings, lectures, classes, sporting activities; and

  3. (b) other forms of recreation and leisure time occupation, with the object of improving the conditions of life for the inhabitants.

  4. the relief of those individuals (and if appropriate their spouses) who are in need by reason of age, disability or ill-health by the provision of:

  5. (a) accommodation and associated facilities; and/or

  6. (b) other services or assistance.

Risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems are in place to mitigate their exposure to the major risks.

3

Somerdale Pavilion Trust

Report of the Trustees For the year ended 31 December 2023

Public benefit

The Trustees are aware of the Charity Commission guidance on public benefit and have paid due regard to this guidance when deciding on what activities the charity should undertake.

In 2023 the Trust was able to support 2,365 beneficiaries in the following categories:

(a) 748 gym members

(c) 1,146 members of 21 sports and activities clubs

Membership of the sports and activities clubs is shown below:

----- Start of picture text -----
Membership of Clubs Members
Baseball 91
Cadbury Pensioners 65
Cycle cross 30
Joggers 13
Netball 11
Netball Juniors 37
Bowls 80
Somerdale Community Shed 22
Step out and Move On 23
Tennis 32
Tennis Juniors 48
Cricket 70
Fry Junior Football Club 200
Fry Seniors Football Club 84
Red Falcons Football Club 200
Cosmos Football Club 20
Old Georgians Football Club 30
Redbridge Football Club 20
Cadbury Heath Football Club 20
Red Falcon Men’s Football Club 20
Mencap 30
Total beneficiaries 1,146
----- End of picture text -----

Achievements and performance

The Trust has built a strong relationship with all existing sports and social clubs associated with the Pavilion with the objective of providing encouraging health and wellbeing of the local community through physical and social activities.

4

Somerdale Pavilion Trust

Report of the Trustees For the year ended 31 December 2023

Achievement and performance continued

The Trust continued to provide and support the Fry Pensioners, Somerdale Shed and Fry Bowls, Tennis, and netball sections. The table above highlights the full extent of the physical and social activities the Trust provided and supported.

The Trust continues to manage and operate the gyms and spa at the Somerdale Pavilion and the Chocolate Quarter, supporting around 748 members and over 100 Pay as you go members.

The restaurant has been a very successful addition to the Pavilion and has become the central hub for families and friends to dine in a relaxed environment with an inclusive menu which caters for all allergens and food intolerances.

There were any successful social events held throughout the year, a family funday celebration for the RNIB and the return of the prestigious Fry Club Cup which completed its 51st year. Tribute nights have been very successful this year, Take That and The Beetles and many others. The Trust ended the year with a New Year’s Eve party and disco which was very appreciated by the local community.

The Trust in common with much of the Leisure sector has experienced a challenging year with higher than average energy prices and the cost of living crisis, however, Somerdale Pavilion Trust achieved a positive financial result.

Financial review

The performance of the Trust to 31 December 2023 was favorable to the expectations and plans of the Trustees that were developed. The financial surplus for the period to 31 December 2023 was £200k which was generated from total income of £1,263k and charitable expenditure of £1,063k.

Future plans

It is projected that there will be an adverse affect in the catering performance due to two major tenants operating from the Chocolate Factory which is adjacent to the Pavilion, leaving at the end of 2023. The two employers, IVC and Pukka had employed around 400 people, however with the St Monica Trust Block D development now under there will be an opportunity to capitalise and cater for the contractors completing the build.

A condition survey will be undertaken in order to identify the corrective works that will be required to address a number of issues with leaks to the roof.

It has been a challenging start to the year due to the continuing cost of living crisis. People are clearly trying to cut back on expenses. In addition to this the weather hasn’t been particularly kind to us and we are witnessing the worst floods we have ever seen, but we are hoping with continued marketing campaigns that there will be a recovery by mid-year.

All the Trust’s sport clubs including, baseball, bowls, cricket, football, netball and tennis have expressed their commitment to the Pavilion and will continue to support us.

The Trust is looking into the possibility of relocating the tennis and Netball courts. The original courts have deteriorated quite badly over the years and would require an investment of 40k to replace the courts surface. The Trust are looking into the possibility of multi sports court thus being able to cater for more members and a more varied sporting discipline.

5

Somerdale Pavilion Trust

Report of the Trustees For the year ended 31 December 2023

In the long term, the Trust remains committed to working with new and existing groups and individuals of all ages to encourage the community to make better use of the club and the facilities it has to offer.

Reserves policy

The Trusts’ policy is to maintain unrestricted reserves equivalent to three month’s operating expenditure, which at this stage of the SPT’s operation would be £266K. As at 31 December 2023 the value of unrestricted reserves was £486k.

Auditors

Following the completion of a competitive tendering process for external audit services, Bishop Fleming LLP were appointed as auditor to Somerdale Pavilion Trust on 1 September 2023.

This report has been prepared in accordance with current statutory requirements, the memorandum of association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Approved by the Trustees on 20 June 2024 and signed on their behalf by:

…………………………………………..

Mr Peter Rilett Trustee Somerdale Pavilion Trust

6

Independent auditor’s report to the Trustees of Somerdale Pavilion Trust

OPINION

We have audited the financial statements of Somerdale Pavilion Trust (the ‘Charity’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes, 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:

BASIS FOR OPINION

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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

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.

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 Charity’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.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

OTHER INFORMATION

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. 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. 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 course of the audit, or otherwise appears to be materially misstated.

7

Independent auditors’ report to the Trustees of Somerdale Pavilion Trust

If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.

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:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of our knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charity 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 Charity'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 Charity or to cease operations, or have no realistic alternative but to do so.

8

Independent auditors’ report to the Trustees of Somerdale Pavilion Trust

AUDITORS’ 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 Auditors' Report that includes 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.

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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained understanding of the legal and regulatory frameworks that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and FRS 102 and UK tax legislation.

In addition, we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charity’s ability to operate or avoid a material penalty.

Our procedures to respond to risks identified included the following:

9

Independent auditors’ report to the Trustees of Somerdale Pavilion Trust

We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

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 Auditors' Report.

OTHER MATTERS

The prior year comparative figures were not audited.

USE OF OUR REPORT

This report is made solely to the Charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's trustees those matters we are required to state to them in an Auditors' 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 Charity and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Joseph Scaife FCA (Senior Statutory Auditor)

for and on behalf of Bishop Fleming LLP Chartered Accountants Statutory Auditors 10 Temple Back Bristol BS1 6FL

Date: 17 July 2024

10

Somerdale Pavilion Trust

Statement of financial activities (including income and expenditure account) For the year ended 31 December 2023

Notes
Income
Grant income
Charitable activities
Other trading activities
Total income
Expenditure
Charitable activities
2
Other
Total expenditure
Net income
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
-
440,145
822,530
1,262,675
900,109
162,665
1,062,774
199,901
199,901
286,185
486,086		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 Total funds
year ended
31
December
2023
£
-
440,145
822,530
1,262,675
900,109
162,665
1,062,774
199,901
199,901
286,185
486,086		 Total funds
period
ended 31
December
2022
£
34,529
329,851
616,135
980,515
749,593
116,385
865,978
114,537
114,537
171,648
286,185

Incoming resources and resulting net movement in funds arise from continuing operations. The charity has no recognised gains or losses other than those shown above.

11

Somerdale Pavilion Trust

Balance sheet As at 31 December 2023

Notes
Fixed assets:
Equipment
6
Current assets:
Stock
7
Debtors
8
Cash at bank and in hand
Creditors: due within one year
9
Net current assets
Net assets
Total restricted funds
Total unrestricted funds
Total funds
10, 11		 6,173
60,784
778,280		 2023
£
4,553
4,553
481,533
486,086
-
486,086
486,086		 4,586
127,278
381,510		 2022
£
5,741
5,741
280,444
845,237 513,374
(363,704) (232,930)
286,185
-
286,185
286,185

These financial statements were approved by the Board on 20 June 2024 and were signed on its behalf by:

Mr Peter Rilett Trustee Somerdale Pavilion Trust

12

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2023

1 Accounting policies

1.1 Company information

Somerdale Pavilion Trust is a private charitable company limited by guarantee incorporated in England and Wales, company number 11730938. The registered office is c/o St Monica Trust, Cote Lane, Bristol, BS9 3UN.

1.2 Basis of preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The charity constitutes a public benefit entity as defined under FRS 102.

Under Section 7.1B of FRS 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds of its size.

These financial statements have been prepared under the under the historical cost convention. The principal accounting policies adopted are set out below.

The Trustees have prepared the financial statements on a going concern basis which they consider is appropriate for the following reasons. The business model of the charity is such that its charitable activities are limited to those which it has sufficient funds to support from the excess of funding received over the costs of administering the charity. The charity therefore has no specific commitments and no committed costs beyond its fixed costs of operation which are detailed in the Consolidated Statement of Financial Activities and notes 2 to 4.

The Trustees have reviewed cash flow forecasts for a period of 12 months from the date of approval of these financial statements which indicate that the charity will have sufficient funds to meet its liabilities as they fall due for that period. As a result, the Trustees consider it appropriate for the financial statements to be prepared on a going concern basis.

There are no material uncertainties about the charity’s ability to continue as a going concern.

13

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2023

1.3 Incoming resources

Donations are credited on a receivable basis unless related to a specific period, in which case they are deferred until that period.

All other income is recognised once the charity has entitlement to the resources, it is probable the resources will be received and the monetary value of the incoming resources can be measured with sufficient reliability.

1.4 Resources expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis, including irrecoverable VAT and has been classified under headings that aggregate all costs related to the category.

Governance costs include those incurred with constitutional and statutory requirements.

1.5 Stocks

Stocks consist of catering supplies and have been valued at the lower of cost and net realisable value.

1.6 Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, bank overdrafts or other short-term liquid investments with original maturities of three months or less.

1.7 Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which includes debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

14

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2023

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as 'creditors: amounts falling due within one year' if payment is due within one year or less. If not, they are presented as 'creditors: amounts falling due after more than one year'. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8 Funds structure

Unrestricted funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects.

Restricted funds comprise those funds which the donor has specifically restricted the purpose for which they can be used.

1.9 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided on these assets at annual rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows:

Office equipment 20% straight line per annum

15

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2023

2 Analysis of total resources expended

Staff costs (note 4)
Food and drink purchases
Equipment
Repairs and maintenance
Premises costs
Office running costs
Service contracts
Professional and legal fees
Bank charges
Depreciation
Governance costs (note 3)		 Charitable
activities
Other
costs
2023
£
£
£
457,603
-
457,603
-
162,665
162,665
15,646
-
15,646
146,727
-
146,727
202,625
-
202,625
36,069
-
36,069
22,182
-
22,182
885
-
885
9,384
-
9,384
1,188
-
1,188
7,800
-
7,800
900,109
162,665
1,062,774		 Charitable
activities
Other
costs
2022
£
£
£
365,920
-
365,920
-
115,379
115,379
19,753
1,006
20,759
136,482
-
136,482
164,099
-
164,099
22,558
-
22,558
22,542
-
22,542
2,240
-
2,240
8,811
-
8,811
1,188
-
1,188
6,000
-
6,000
749,593
116,385
865,978

3 Governance costs

overnance costs
Auditor’s remuneration (inclusive of VAT) 2023
£
7,800
7,800		 2022
£
6,000
6,000

4 Staff numbers and costs

The average number of persons employed by the company during the year was 33 (2022: 28).

The aggregate payroll costs were as follows:

Wages and salaries
Social security costs
Pensions
Contractor costs		 2023
£
399,315
20,220
6,608
31,460
457,603		 2022
£
312,839
19,733
5,147
28,201
365,920

16

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2023

During the current and previous year, the Trustees were not paid any remuneration or reimbursed for expenses, and no Trustees made donations to the charity.

Key management remuneration in total for the year was £nil (2022: £nil).

There were no employees whose emoluments were in excess of £60,000 per annum in the current or previous year.

5 Taxation

None of the income received by the charity is subject to UK corporation tax. As such, there is no tax arising on the movement in funds during the year.

6 Tangible fixed assets

Cost
At 1 January 2023
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
As at 31 December 2023
As at 31 December 2022
Stocks
Catering supplies
Cleaning supplies		 Equipment
£
11,959
11,959
6,218
1,188
7,406
4,553
5,741
2023
£
5,231
942
6,173		 Total
£
11,959
11,959
6,218
1,188
7,406
4,553
5,741
2022
£
3,660
926
4,586

7 Stocks

17

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2023

8 Debtors

Trade debtors
Amounts owed by group undertakings
Prepayments
Accrued income
Other debtors		 2023
£
5,318
-
1,193
54,273
-
60,784		 2022
£
46,745
8,809
5,504
66,220
-
127,278

9 Creditors: amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Accruals
Deferred Income
Other creditors		 2023
£
36,727
101,638
47,313
11,822
166,204
363,704		 2022
£
39,861
-
-
79,914
113,155
232,930

10 Analysis of charitable funds

Unrestricted
funds
Restricted
funds
Unrestricted
funds
Restricted
funds		 1 January
2023
Incoming
resources
Resources
expended
Transfers
between funds
31 December
2023
£
£
£
£
£
286,185
1,262,675
1,062,774
-
486,086
-
-
-
-
-
286,185
1,262,675
1,062,774
-
486,086
1 January
2022
Incoming
resources
Resources
expended
Transfers
between funds
31 December
2022
£
£
£
£
£
171,648
980,515
(865,978)
-
286,185
-
-
-
-
-
171,648
980,515
(865,978)
-
286,185

18

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2023

11 Analysis of net assets between funds

Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors
Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors		 Unrestricted
funds
Restricted
funds
Total funds
2023
£
£
£
4,553
-
4,553
6,173
-
6,173
60,784
-
60,784
778,280
-
778,280
(363,704)
-
(363,704)
486,086
-
486,086
Unrestricted
funds
Restricted
funds
Total funds
2022
£
£
£
5,741
-
5,741
4,586
-
4,586
127,278
-
378,784
381,510
-
381,510
(232,930)
-
(232,930)
286,185
-
286,185

12 Financial commitments

At the year end, contractual commitments totalling £nil (2022: £nil) were in place in respect of future building improvements work to be undertaken.

13 Related party transactions

Somerdale Pavilion Trust is related to St Monica Trustee Company Limited, which is the sole Trustee of St Monica Trust, by common directors.

During the year, St Monica Trust provided staff time and funds for operating expenses to the charity totalling £17,000 (2022: £15,469). The charity provided services to St Monica Trust in the form of parking and academy rent totalling £225,150 (2022: £234,905). The amount owed by Somerdale Pavilion Trust at the year-end was £101,638 (2022: -£8,810).

19

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2023

14
Comparative statement
Income
Grant income
Charitable activities
Other trading activities
Total income
Expenditure
Charitable activities
Other
Total expenditure
Net income
Net movement in funds
Total funds brought forward
Total funds carried forward		 of financial activities
Unrestricted
funds
Restricted
funds
£
£
-
-
440,145
-
822,530
-
1,262,675
-
900,109
-
162,665
-
1,062,774
-
199,901
-
199,901
-
286,185
-
486,086
-		 Total funds year
ended 31
December 2023
£
-
440,145
822,531
1,262,676
900,109
162,665
1,062,774
199,901
199,901
286,185
486,086

20