ANNUAL REPORT AND FINANCIAL STATEMENTS
A Charitable Incorporated Organisation Registered Charity Number 1190394 First Annual Report Inception to 31 March 2021
TRUSTEES REPORT AND FINANCIAL STATEMENTS 2020/21
1. Introduction
Welcome to this first report of the trustees which includes the financial statements for the period ending 31 March 2021.
We are a new local charity established in July 2020 with the purpose of benefiting the residents of Leatherhead and the surrounding area through establishing a community hub.
The charity brings together foundation partners who share the passion, skills and faith to help re-build a true sense of community.
With the support of Mole Valley District Council, we are establishing a new community centre at the heart of North Leatherhead, where people of all ages can connect, learn, have fun and find the support they need to thrive.
2. Vision, Mission and Values
Our vision is a vibrant, caring and hope-filled community where everyone matters and belongs.
Our mission is to create a safe, beautiful and welcoming space in the heart of the community where people of all ages can connect, learn, have fun and find the support they need to thrive.
Our values define how we deliver our mission. We are:
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People-centered: We care deeply about people and always put them first.
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Open-hearted: We strive to be kind and welcoming, offering time, space and a listening ear to all.
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Creatively-minded: We love finding new and imaginative ways for people to use, grow and share their gifts.
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Community-led: We want to be shaped by the opportunities and ideas that come from within the community.
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Faith-full: We believe the best of every person and are trustworthy and committed in all we do.
3. Reference and administrative details
Charity number 1190394
Registered Office
Garden House, St Nicholas Avenue, Bookham, Surrey KT23 4AY
Operational address
Leatherhead Community Centre, Kingston Road, Leatherhead, Surrey KT22 7PX
Trustees
Andy Moulton (Chair) (appointed 13/7/20) Jenny Moore (appointed 13/7/20) Ruth Shepherd (appointed 13/7/20) Penny Horner Long (appointed 13/7/20) Richard Furze (appointed 15/1/21)
Bankers
The Co-operative Bank PO Box 250 Skelmersdale WN8 6WT
4. Structure, governance and management
a. Governing documents
The organisation is a Charitable Incorporated Organisation, incorporated on 13 July 2020. The charity was established under a Foundation Model Constitution which establishes the objectives and powers of the charitable incorporated organisation and is governed under its Constitution.
b. Appointment of Trustees
Trustees are appointed with regard to the skills required by the charity and their dedication to its purposes. The initial trustees have been appointed for a range of periods to ensure continuity. Other trustees are appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
c. Organisation
The Trustees meet each month with key volunteers and deal with the administration of the charity encompassing the strategic vision, financial accountability and risk management.
The operational management of the organisation is undertaken by the Operations Team of volunteers led by the Operational Manager appointed in January 2021, working in conjunction with the Board of Trustees.
d. Risk management
The Trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. These include the implementation of procedures for authorisation of all transactions and projects and for ensuring the consistent quality of the delivery of all operational aspects of the charitable organisation. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
5. Partners
Leatherhead Community Hub is an umbrella organisation that brings together seven local organisations, who are already active in the North Leatherhead community. Co-locating in a single community hub will help us to achieve far more than we can do on our own.
The Trustees would like acknowledge with thanks the support and collaboration of:-
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St Giles Playgroup and Nursery
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The Hive
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The Epsom & Ewell Foodbank
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Mid Surrey Community Fridges
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Citizens Advice Mole Valley
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The Molebridge GP Practice
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The Gathering Church
6. Achievements and Performance
The first period of the charity has been a very busy one. Following a listening exercise carried out by MVDC in 2019 which highlighted the lack of community facilities and amenities for the residents of North Leatherhead, the charity conducted a consultation with the local communuty and received detailed survey feedback from more than 350 residents. This strongly confirmed the need for a communuity centre where people of all ages could come together to build connections, acquire new skills and receive services from local charities.
Initially, the charity's plan was to bid for a five-year lease to the Aperdele Road site owned by the Diocese of Guildford as part of the latter's decision to sell the site. The Trustees believe that they presented a professional and compelling bid for its use for community purposes and are most
grateful for the support they received from many parties in preparing this bid. Unfortunately, it was confirmed to us in March 2021 that the Diocese had decided to sell the site outright and that we were therefore not the preferred bidder.
In the meantime, the charity had established a contingency plan and entered into a five-year lease for the North Leatherhead Community Association (NLCA) building in Kingston Road. We are now committed to developing this building for use by the community. St Giles Playgroup also have a lease of part of the building as do Epsom and Ewell Foodbank and both of these partner organisations have already been working there during this period. In January 2021, the Community Fridge also started to provide a service to the local community on two days per week. Work was underway from January to refurbish and redecorate a part of the premises initially for use by the Hive and the Gathering Church. We are hugely grateful to all the volunteers who have worked so hard to move this project forward.
The charity has also spent time, in consultation with its partners, in clarifying its Vision, Mission and Values which were finalised in March and are covered in section 2 of this report.
7. Financial review
The results for the period and the charity’s financial position at 31 March 2021 are shown in the following financial statements.
During the period, the Charity had income of £13,095 and expenditure of £5,689. There was an operating surplus of £7,406.
The first period of the charity had few financial transactions. A rent deposit was paid to secure the lease of the premises with Mole Valley District Council (MVDC) but a rent holiday has been granted until May 2021 so that the first rent instalment will be paid in June 2021. We have also received a grant of £6,000 from MVDC to assist with rent and other expenses given that the centre has not, in the main, been able to function due to Covid-19 restrictions. We were also grateful to Tim Hall, our Surrey County Council local councillor for a grant of £3,000 towards work on the centre and additional grants towards early expenses from MVDC, Leatherhead United Charities and other donors.
Expenses other than the rent deposit largely related to the refurbishment of the centre. A number of other grants have been awarded which will be payable in the new financial year against refurbishment costs.
Although not given a financial value in these accounts, a number of giftsin-kind have been received from local businesses and individuals and we are most grateful to everyone who has helped in this way.
Reserves policy
The trustees have a strategy to continue to build reserves through planned operating surpluses.
Given the potential volatility of income, we aim to retain a reserve representing at least 3 months expenditure at all times to ensure that we can meet our ongoing needs. This reserve will need to be built up over a period of time through fundraising and with the help of our partners. The Trustees are satisfied that, for the present, actions have been put in train to ensure the financial viability of the charity.
8. Plans for the future
The trustees continue to have ambitious plans for the development of the charity in several areas.
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Our primary focus in the short term is to complete the refurbishment and improvement works at the Community Centre to fully open to the community during 2021/22. This will include the establishment of a community café.
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We are seeking to negotiate a long-term lease with Mole Valley District Council (the owners of the community centre) to secure certainty of tenure and enable us to invest further in the facilities available to the community and our partners.
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Continuing to work closely with Surrey County Council and Mole Valley District Council to secure funding for a new, purpose-built community space in North Leatherhead to supplement the services and facilities provided from our current location.
9. Statement of Trustee Responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity Law requires the trustees to prepare financial statements for each financial year which give a view of the state of affairs of the charitable incorporated organisation and of incoming resources and application of resources, including the income and expenditure of the charitable incorporated organisation for that year. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently.
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charitable incorporated organisation and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charitable incorporated organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Board on 04.08.2021 and signed on their behalf by:
A. Moulton (Chair)
Leatherhead Community Hub Profit and Loss Account for the period ended 31 March 2021
| Leatherhead Community Hub Proft and Loss Account for the period ended 31 March 2021 |
|
|---|---|
| Unrestrict ed Restricted Total |
|
| Funds Funds Funds |
|
| Notes | 2021 2,021 2021 |
| £ £ £ |
|
| Incoming resources | |
| Incoming resoures from generated funds: | |
| Voluntary income 2 |
11095 2000 13095 |
| Investment income 3 |
0 0 0 |
| Total incoming resources |
11095 2000 13,095 |
| Resources expended | |
| Costs of charitable activities 4 |
3689 2000 5689 |
| Total resources expended | 3,689 2,000 5,689 |
| Net movement in funds | 7,406 0 7,406 |
| Total funds brought forward | 0 0 0 |
| Total funds carried forward | 7,406 0 7,406 |
| Leatherhead Community Hub |
||
|---|---|---|
| Balance Sheet | ||
| As at 31 March 2021 | ||
| Note s |
2,021 | 2,021 |
| £ | £ | |
| Current assets | ||
| Stocks | - | |
| Cash at bank and in hand | 10,406 | |
| 10,406 | ||
| Creditors: amounts falling due within one year 6 |
(3,000) | |
| Net current assets | 7,406 | |
| Net assets | 7,406 | |
| The funds of the charity: | ||
| Unrestricted revenue accumulated funds 7 |
7,406 | |
| Restricted revenue accumulated funds 8 |
0 | |
| Total charity funds | 7,406 |
Leatherhead Community Hub
Notes to the Accounts for period ended 31 March 2021
- 1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland and with the Charities Act 2011.
Incoming resources
Donations
Donations are credited in the year in which they are receivable. Associated gift aid is recognised in the period when the donation is received.
Interest
Interest is credited in the year in which it is receivable.
Resources expended
Expenditure is recognised when a liability is incurred.
| 2 Voluntary Income |
2021 2021 2021 |
|---|---|
| £ £ £ |
|
| Unrestricte d Restricte d Total |
|
| Donations by organisations | 0 2,000 2,000 |
| Grants | 11,095 0 11,095 |
| Total voluntaryincome | 11,095 2,000 13,095 |
| 3 Investment income |
2021 2021 2021 |
| £ £ £ |
|
| Unrestricte d Restricte d Total |
|
| Bank interest | 0 0 0 |
| Total investment income | 0 0 0 |
| 4 Costs of charitable activities |
2021 2021 2021 |
| £ £ £ |
|
| Unrestricte d Restricte d Total |
|
| Equipment | 494 0 494 |
| Refurbishment | 23 2000 2,023 |
| Insurance | 96 0 96 |
| Rent | 3,000 0 3,000 |
| Other general administration costs |
76 0 76 |
| Total costs of charitable activities | 3,689 2,000 |
5,689 |
|---|---|---|
| 5 Taxation |
||
| The charityis exempt from tax on its charitable activities. | ||
| 6 Creditors: amounts falling due within one year |
2021 | |
| £ | ||
| Creditors and accruals | 3,000 | |
| 3,000 | ||
| Duringtheperiod the charityreceived an unsecured loan of £3000 repayable in the next fnancialyear. | ||
| 7 Unrestricted Funds |
2021 | |
| £ | ||
| Incoming resources | 11,095 | |
| Outgoingresources | (3,689) | |
| Balance at 31 March 2021 | 7,406 | |
| 8 Restricted Funds |
2021 | |
| £ | ||
| Incoming resources | 2,000 | |
| Outgoingresources | (2,000) | |
| Balance at 31 March 2021 | 0 |