Registered company number CE020418
Registered Charity number 1187528
## Bournville Hub CIO
Accounts
31 March 2023
## **Bournville Hub CIO Report and accounts 31 March 2023 Contents**
|||**Page**|
|---|---|---|
|Trustees Report|1-3||
|Independent Examiner's Report|4||
|SOFA|5||
|Balance Sheet|6||
|Notes to the Accounts|7-13||
## **Bournville Hub CIO**
## **The report of the trustees for the year ended 31 March 2023**
## **Introduction**
The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31 March 2023, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015.
## **Objectives and activities**
The objects of the charity, as set out on the Charity Commission website :
Bournville Hub CIO exists to benefit the residents of Bournville and the neighbourhood, 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.
In order to further these objects, the charity runs the community building known as Bournville Hub. It runs a year-round programme of events for the residents of Bournville.
The charity started to employ a full time Hub Manager from October 2023, along with a part time Assistant Manager.
## **Structure, Governance and Management**
## **Governing Document**
Bournville Hub is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission on 23 January 2020.
It is governed by a board of trustees. All newly appointed trustees are given, in the view of the trustees, sufficient training and have enough knowledge to control and effect the charity's governance, strategy and operations effectively. Trustees are recruited, on the basis of having a broad range of knowledge and experience across the board of trustees
## **Achievement and performance**
The Charity has had a year of transition with the Board of Trustees considering at length how to take the Charity forward post Covid and with an independent bookshop in situ in the downstairs of the Hub building. This strategy review was not completed by March 2023 and indeed the decsion to move the Charity forward as a hub, without the independent bookshop being in place was not taken until early summer. This strategy was agreed by all parties as the Bookshop owners took the decsion to relocate to enable the Hub to fully resume its role as a community Hub and to employ the staff required to enable this.
During the year the only real income had been that of renting space to the Indpendent Bookshop and to other local parties.
In addition the Charity has been developing its partnership with Bournville Village Trust and has involved them closely in its strategic planning and has recently negotiated an ongoing lease with the Trust for the building it occupies, finally giving it certainty on the ability to provide the envisaged services.
## **Financial review**
Total income for the year amounted to £33,869 (2021/22: £40,268) and total expenditure amounted to £37,759 ( 2021/22: £39,714) . The net impact of the above results in a deficit of £3,890, decreasing unrestricted reserves to £45,060 (2021/2: £48,950) and total reserves to £48,669 (2021/22: £52,559).
1
## **Bournville Hub CIO**
## **The report of the trustees for the year ended 31 March 2023**
## Going Concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the Balance Sheet date.
## On going Position
As at the authorisation date the Trustees have considered the level of reserves and the commitments now made on behalf of the Charity by employing 2 people and taking on a 5 year lease with Bournville Village Trust and have concluded that core funding is now required along with funding for specific activites as current reserves no longer represent 12 months running costs. This is a key matter for the Hub Manager to address in the immediate future.
## **Risk Management**
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate our exposure to the major risks.
## **Reserves Policy**
The Trustees have adopted a reserves policy of maintaining at least 12 months running costs within general unrestricted reserves, the level of reserves at 31 March 2023 meets this requirement.
_**Registered Company number**_ CE020418
_**Registered Charity number**_ 1187528 _**Registered office**_ 27 Sycamore Road Bournville Birmingham B30 2AA **Independent Examiner** Nicola Tomlin MAAT Member of Association of Accounting Technicans The Barn 173 Church Rd Northfield Birmingham B31 2LS **Bankers** The Co-Operative Bank Plc P.O.Box 250 Skelmersdale WN8 6WT
## _**Trustees**_
John Dolan Moira Wright Edward Rutledge (26th January 2023) Roderick Welch (appointed 2nd March 2023) Sarah Mullen
## _**Key personnel**_
Day to day Management is devolved to the Hub Manager, who regularly reports to the Board of Trustees
2
## **Bournville Hub CIO The report of the trustees for the year ended 31 March 2023**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for preparing 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). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the trustees are required to :
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless inappropriate to presume that the company will continue in business.
## **Approved by order of the board of trustees on its behalf by:**
Trustee John Dolan Date: 7th December 2023
3
## **Independent Examiner' Report to the Trustees of Bournville Hub CIO Accounts to 31st March 2023**
## **Respective responsibilities of charity trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. The charity’s gross income did not exceed £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of the Accounting Technicians
Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the 2011 Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act; and
- state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention to indicate that:
- accounting records have not been kept in accordance with section 386 of the Companies Act 2006;
- the accounts do not accord with such records;
- - where accounts are prepared on an accruals basis, whether they fail; or to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS102)
- any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.
Nicola Tomlin MAAT Member of the Association of Accounting Technicans The Barn !73 Church Rd northfield Birmingham B31 2LS
7th December 2023
4
## **Bournville Hub CIO Statement of Financial Activities**
## **incorporating an Income and Expenditure Account Year Ending 31 March 2023**
|**Current Year**
**2023**
**Unrestricted**
**Fund**
**Note**
£
**Income and Endowments from**
Donations and Legacies
3
212
Other Trading activities
3
33,657
**Total**
33,869
Expenditure
**Raising Funds**
5
-
**Charitable Activities**
5
(37,759)
Net Income / (Expenditure)
(3,890)
**Reconcilition of Funds**
Total funds brought forward
48,950
Transfer between Funds
-
Total funds carried forward
45,060|**Current Year**
**2023**
**Designated**
**Fund**
£
-
-
-
-
-
-
-
-|**Current Year**
**2023**
**Restricted**
**Fund**
£
-
-
-
-
3,609
-
3,609|**Current Year**
**2023**
**Total Funds**
£
212
33,657
-
33,657
-
(37,759)
(4,102)
-
52,559
-
48,457|**Prior Year**
**2022**
**Total Funds**
£
21,056
19,212|
|---|---|---|---|---|
|||||40,268
-
(39,714)|
|||||554
52,005|
|||||52,559|
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
* Please see note 13 for prior year comparative
5
## **Bournville Hub CIO Balance Sheet as at 31 March 2023**
|**Note**
**Fixed assets**
Tangible assets
14
**Current assets**
Debtors
7
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
8
Net current assets
**Net assets**
All funds
9&10
Unrestricted Funds
Designated Funds
Restricted Funds
**Total Funds**|**2023**
**£**
**£**
1,195
1,195
6,519
49,985
56,504
(9,030)
47,474
48,669
45,060
3,609
48,669|**2022**
**£**
**£**
479
479
4,304
56,983
61,287
(9,207)
52,080
52,559
48,950
-
3,609
52,559|**2022**
**£**
**£**
479
479
4,304
56,983
61,287
(9,207)
52,080
52,559
48,950
-
3,609
52,559|
|---|---|---|---|
|||||
||||52,559|
||||48,950
-
3,609|
||||52,559|
The trustees are satisfied that the company is entitled to examption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and by the regulations of the Charity's Commission.
The trustees acknowledge thrie responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts .
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Trustee
John Dolan
Date: 7th December 2023
6
## **Bournville Hub CIO Notes to the Accounts Year Ending 31 March 2023**
## **1 General Information**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **2 Accounting policies**
## _**Basis of preparation**_
The financial statements have been prepared on a going concern basis which assumes that the Company will continue to operate. The validity of this assumption is dependent upon the continuance of support from the Company's key grant funders and in response to the progress made by the Company in pursuing a viable budget including the obtaining of further grants and other funds. The Company's current business plan shows that the Company will be able to operate in the foreseeable future. Based on this understanding, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments, which would result from the basis of preparation being inappropriate.
## _**Tangible fixed assets**_
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life (assets with a cost below £1,000 are not capitalised) :
Fixtures, fittings & equipment -12.5% per annum straight line
Indivdual Fixed assets costing £400 or more are capitalised at cost.
## _**Income**_
Items of income are recognised and included in the accounts when all of the following criteria are met:
- The charity has entitlement to the funds;
- any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity;
- there is sufficient certainty that receipt of the income is considered probable; and
- the amount can be measured reliably.
## _**Expenditure**_
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise staff costs and other direct costs involved in the raising of funds for the charity; - Expenditure on charitable activities includes the direct costs of activities undertaken to further the purposes of the charity and their associated support & governance costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
7
## **Bournville Hub CIO Notes to the Accounts Year Ending 31 March 2023**
## _**Taxation**_
The charity is exempt from corporation tax on its charitable activities within the meaning of schedule 3 of the Charities Act 2011 and is considered to have passed the test set out on Paragraph 1 Schedule 6 Finance act 2010
## _**Fund accounting**_
Unrestricted Funds can be used in accordance with the charitable objectives at the discretion of the trustees. From 2023 it has been decided by the Trustees Play Advocacy as a designated fund rather than Unrestricted.
Restricted funds can only be used for the particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are rasied for a particular restricted purpose.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## _**Debtors**_
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Pension Costs**
The Company operates a money purchase pension scheme for employees. Employer contributions are charged as an expense in the period to which they relate and are allocated to activities in line with the related salary cost.
## **3 Income from Donations and Legacies**
|Secondments
Grants
**Income from Charitable activities**
**Income from other trading activites**
Events
**Investment Income**
Bank account interest
Donations
Office Rental|**2023**
**£**
37
175
212
23,168
10,489
33,657
33,869
**2023**
**£**
0|**2022**
**£**
1,398
6,230
13,429|
|---|---|---|
|||21,057
19,212|
|||19,212|
|||40,269|
|||**2022**
**£**
0|
## **4 Investment Income**
8
## **Bournville Hub CIO Notes to the Accounts**
## **Year Ending 31 March 2023**
## **5 Direct costs of charitable activities**
|**Direct costs of charitable activities**|||
|---|---|---|
|Cost of Events
Wages and Salaries
Premises & office costs
Insurance
Internet
Materials
Subscriptions
Cleaning
Website Costs
Refreshments
Training
Computer & I.T.Costs
Compliance costs
Professional Fees
Consultancy
Depreciation
Indpendent examiner charge 2022
Legal Fees
Entertaining
Bad Debt Beaufort Tutors
Support Costs
Marketing|**2023**
**£**
10,488
10,634
4,754
513
996
128
297
3,721
288
328
300
422
193
893
1,933
132
1,725
14
37,759|**2022**
**£**
21,118
5,241
1,084
1,699
216
4,383
-
435
169
1,107
1,496
80
2,686|
|||39,714|
9
## **Bournville Hub CIO Notes to the Accounts**
## **Year Ending 31 March 2023**
## **6 Staff costs**
|**Staff costs**||
|---|---|
|**2023**
Wages and salaries
9,194
Employer costs - National Insurance
1,362
Pension costs
78
**10,634**
The average number of full time equivalent employees during the year was as follows:
**2023**
1|**2022**
**£**
17,903
2,498
717|
||**21,118**|
||**2022**
1|
There were no trustees remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.
There were no trustees expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022
## **7 Debtors**
|**Debtors**|||
|---|---|---|
|Prepaid expenditure
Trade Debtors
Accrued Income|**2023**
**£**
279
6,238
2
6,519|**2022**
**£**
279
4,025
-|
|||4,304|
## **8 Creditors: amounts falling due within one year**
|Trade creditors
Deferred Income
Accrued expenses|**2023**
**£**
-
6,775
2,255
9,030|**2022**
**£**
178
6,775
2,255|
|---|---|---|
|||9,208|
10
## **Bournville Hub CIO Notes to the Accounts**
## **Year Ending 31 March 2023**
## **9 ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**Unrestricted Funds**
Fixed Assets
**Restricted Funds**
Fixed Assets
**Movement in Funds**
**Unrestricted Funds**
General Fund
**Restricted Funds**
William Cadbury CT
Selly Oak NNS
Charities Aid Foundation
**Total Funds**
Net Current Assets/(liabilities)
Net Current Assets/(liabilities)|**Opening**
**Balance**
£
48,950|2023
£
1195
43,865
45,060
3,609
3,609
**Movement in**
**fund**
£
(3,890)|2022
£
479
48,471|
|---|---|---|---|
||||48,950|
||||3,609|
||||3,609|
||||**Closing**
**Balance**
£
45,060
-|
||48,950
1,500
397
1,712|(3,890)|45,060
1,500
397
1,712|
||52,559
-|(3,890)
-|48,669|
## **10 Movement in Funds**
-
**Net movement in funds, included in above are as follows:**
|**Unrestricted Funds**
General Fund
**Restricted Funds**
William Cadbury CT
Selly Oak NNS
Charities Aid Foundation
**Total Funds**|**Incoming**
**Resources**
**Movement**
**Resources**
**Expended**
**in funds**
£
£
£
33,869
(37,759)
(3,890)
-|
|---|---|
||33,869
(37,759)
(3,890)
-
-
-
-
-
-
-
-
-|
||33,869
-
(37,759)
-
(3,890)|
The General fund represents unrestricted funds that can be utilised for charitable purposes as determined by the Trustees
Funding granted by both the William Cadbury Charitable Trust and Charities Aid Foundation was awarded towards the installation of a commercial kitchen at the hub.
Funding that was provided by Selly Oak NNS was awarded to be used towards providing fromtline community support during the Covid-19 pandemic.
11
## **Bournville Hub CIO Notes to the Accounts Year Ending 31 March 2023**
## **11 Related Party Transactions**
There were no transactions with related parties during the year or previous year that require disclosure in these accounts.
## **12 Ultimate Controlling Party**
The charity is wholly under the control of the board of Trustees.
## **13 Comparative Statement of Financial Activities (incorporating an Income and Expenditure Account) for the year ended 31st March 2022**
|**Unrestricted**
Notes
**Funds**
**£**
INCOME FROM:
Donations & legacies
21,056
Charitable activities
3
19,212
TOTAL INCOME
40,268
EXPENDITURE ON:
Raising funds
5
Charitable Activities
5
39,714
TOTAL EXPENDITURE
39,714
NET INCOME/(EXPENDITURE)
554
RECONCILIATION OF FUNDS:
Total funds bought forward
48,396
TOTAL FUNDS CARRIED FORWARD
48,950
**14**
**Tangible fixed assets**
**Fixtures and**
**Fittings**
**£**
Cost
At 31 March 2022
639
Additions
909
Disposals
As at 31 March 2023
1,548
Depreciation
At 31 March 2022
160
Charge for the year
193
Additions
Disposals
As at 31 March 2023
353
Net Book Value 31 March 2022
479
Net Book Value 31 March 2023
**1,195**|**Restricted**
**Funds**
**£**
0
0
0
3,609
3,609
**Total**
**£**
639
909
1,548
160
193
353
479
**1,195**|**2022**
**Total**
**Funds**
**£**|
|---|---|---|
|||21,056
19,212|
|||40,268|
|||0
39,714|
|||39,714|
||||
|||554|
|||52,005|
|||52,559|
||||
12
## **Bournville Hub CIO Notes to the Accounts Year Ending 31 March 2023**
## **15 Lease Commitments**
There were no operating lease payments committed beyond the year ended 31 March 2023, nor for the year 31 March 2022.
## **16 Capital Commitments**
There were no capital commitments at the date of approving these accounts.
13