REGISTERED c￿ NUMBER.. 1192247 REPORT OF THETRUSTEES AP4D UNAUDITED FINANCIAL ￿ATEmENTs FOR THE PERIOD 2 NOVEMBER 2020TO al DECEMBER ZO21 FOR COWES HERrrAGE AP4D commuN￿Y GftOUP Bri8ht Brown Limited Chartered Accountants Exchange House St. Cr055 Lane Newport Isle of Wight P030 58Z COWES HERITAGEAND COMMUNITY GROUP CONTENTS OF THE FINANaALSTATEMENTS FOR THE PERIOD 2 NOVEMBER 2020TO 31 DECEMBER 2021 R•pDrt oftheTrustèe5 I to 2 Independent Examlnpr's Report 4tementof Finamlal ActSvhle5 Balance Sheet Notes to the Flnantlal Staternents DetalF¢d Stilement of FlnancFal ALifvltles io COWES HERITAGE AND COMMUNIIYGROUP REPORTOFTHE TRUSTEES FOR THE PERIOD2 P4X)VEMBER 2020TO 31 DECEIAAER 2021 The trustees prèsent thelr report with the ffinancial statsments of the chadty for the period 2 November 2020 to 31 Decembèr 2021. The trustees have adopted the prowsions of Accountlng and ReportiTh¥ by Charftle5'. Statement of Recommended Practice appltcable to charitie5 preparin8 thelr accounts in accordance with the Financial Reporting Standard applltable In the UK and Republlc of Ireland IFRS 1021 leffectlve ljanuary 20191. OBJECTIVES AND AcfMTIES ObiecthES and alm5 To offer a weltomingsotialfadlityin the Cowes a￿a by. lil the provision of cla55es In the art5. crafts, local hlstoryand social history,. and 121 the provision of public exhlbitions and presentstions in the herita8e of Cowes, Publk benent All the a¢twitie5 of the Chartty focus on deliverln8 community benèfrt and a￿ in accordance wlth the obierts of the tharity. The Trustee5 have complied wlth their duty to have due regard to the Charity Commlssion's publlc beneflt guKlance when exercisinB any powers or duties to which ihe 8UIdan￿ is relewdnt. ACHIEVEMEPIT AND PERFORMANCE Charltable actlviths The Chartty was successFul in obtalnlng a erant from C¢Jwes Town Councll towards the cost of building an extension to the Beckford Centre to house the Cowes Heritage archivès. This money, together wlth reserves brought to the new charity by both Cowe5 HeritsBe aThJ Cowes Commufiity Group enabled the suc￿55fUl complètion of the bulld and r( beingfitted out with storage shelving for the extensive paper archives. The extensSve historlcal archive was moved in and is belng further recorded and arranged so that St can be made avallable for research purposes. The TThtrstÉes have organlsed several exhibltlon5 of local history rn the Centre and have or8ant5ed local walks to bring the history of Cowes to the attÈfttion of local people. They have also given presentatrD115 to other Island historlcal assodatlon5. FDllowing the need to dose durfng Covid lockdown5. The BeckfLird Centre reopened and has continued to be used as a community rRntre wllh 5evetal Special InteTe5t 8rotsps, Including an art group* history 8¥oup and a current affair5 group meetlng on a weekty basi& Trustees have also opened the Centre on Saturday momings to enable people to come in and further their own research Into local or famlly history. A prolect to di8tt4se and cross reference the ardil¥es has begun to assist with and enhan￿the research opportunlttts. FINANCIAL REVIEW The charity's income for the period was £38.198 and expenditure was £L870. The tharity reported a surplus for the perlod of £36,328. Reserves pollcy The Trustee5 aim to maintsln free re5e*ve5 of at least £5,OLM). This wlll be kept under re¥lew and will be fornially agreed on an annual basls. STRuclliRE. GOVERNANCE AND MANAGEMENT Govèrnin&do£umeDt The charity registered as a Charitable Incorporatèd Organi5ation ICIOI on 9 November 2020 and 15 governed by Its con5titutlon dated 2 November 2020. Pagè I COWE5 HEIIITAGE AND CCIYMUNIIY GROUP REPOATOF THETRUSTEES FOR THE PERIOD 2 NOVEWIBER 2020TO ai DECEMBER 2021 sTrucruRE, GOVERNANCE AND MANAGEMENT RecNStment and appointment of newtrustees Apart from the ffirst Charity TrustÈÉs. Èvery TrusteÈ be appointed for a term of three years by a re501ution passed at a properly convened meetln8 of the Charity Trustee5. In selecting individuals for appointment as Charity Trustee5, the Charity Tru5tee5 must have regard to the 5kill& knowled8e and expef*n¢e rteeded forthe èffertwe administration of CHCG. Inductlon and trainlnB of Trwtrustee5 The CharityTrustees will make available to each new CharityTrustÈè, on or ￿fore hls orherfir5t appointment.. a copy of the current version of this Con5tilution', and Ibl a copy of CHCG'S latestTrustees' Aftnual Report and statement of accounts. Rlsk m￿n￿n￿Tht The trustees have a duty to identlfy and review the ri5k5 to whKh the charlty 15 exposed and to ensure approprtate contro15 are in place to provide reasorthle assurance agalnstfraud and error. REFERENCE AND ADMINISTRATIVE o￿Al&s ReÈisiertd thailty numI￿r 1192247 PrTrKlpal address 8ecklord Cèntre 5 Beckford Road Cowes Isle of WiEht P03175E Miss E M Mackenzie (appointed 2.11.201 Miss L Hayward (appointed 20.1.221 Mrs J Allen lappointed 2.11.201 G Chastney lappointed 2.11.201 M Coventry lappointed 2Ql.221 J Matthews (appointed 2.11.201 {resI￿ed 22.6.221 IDdÈpendeni Examlner Bright Brown Limited Chartered Accountsnts Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ Approved by order of the board of tn￿tee$ on.... .11.1102a........... and s5BnÈd on Its behalf by.. Mi55 L Hayward- Trustee Page 2 INDEPENDENT EXAMINER'S REPORTTOThETRUSTEES OF OWES HERITAGE AND COMMUNftY GROUP Indeptndent examlnarfs r•porttotha truste45 oICow¢s Herltage and Comnwnlty Group I report to the charity tru5tee5 on Fny examinatlon of the accounts of Cowes Heritage and Cornmunity Group Ithe Trust? furthe period 2 November 2020to 31 December 2021. Responslbllttles arml basts of report A5 the charity trustèes of the Trust you are responsible for the Pfeparation of the accounts in accordan￿ wth the requiremenis of the Charitle5 Art 2011 l*he Act'l. I report in respect of my examlnalion of the Tru5V5 Octounts carried out under sectlon 145 01 the Art and in carrySng out my èx3mlnation I have followed all applicable Directions glven by the Charity Commis5Ion under sectlon 14515llbl of the Act. Independent examifter's statement I have completed rny exarninatK)n. I conflrm that no material matters have come to my attentlon In connection with the examlnation giving me cause to believe that in any material re5peLt'. accountlng records weTe not kept In fe5pect of the Trust as reqvlred by sectlon 130 of the Act: or the accounts do not accurd with those records,. or the accounts do not comply with the applicable requirements concerning the forffl and content of accounts set out in the tharities (Account5 and Reportsl Regulations 2(J)8 other than any reguirernent that the accounts give a true and fairview which is not a rnatter considered as part Of an Independent examlnation. I have no concerns and have come aCT0S5 no other matter5 in toDneclkJn wlth the examlnatiDn to which attention 5hDuld be drawn in this Teport in orderto enable a proper understanding of the accounts to be reached. Mrj Palmer FCCA Bright Brown LiMi￿d Charterpd Accountants Exchan8e House st. CT05S Lane Newpxt Isle of WTBht P030 5BZ Page 3 COWES HERITAGEANO COMMUlm 6110UP STATEMÈNTOF FINANaALAcrwttiEs FOR THE PERIOD I NOVEMBER 2020 TO 31 DEceMBER 2021 Unrestricted funds Restritted fund Total fvnd5 Note5 INCOME ANO ENDOWMENTS FROM Oonatlons and le8acie5 27.143 27,143 Charltabte attlvltles GeDeral lo,￿0 io,oc¥J other traiJln8 actlvStles 1.055 1,055 Total 28,198 10,0 38.198 EXPENDITURE ON Ralsing fund5 361 361 tha￿table artl¥ltles General 1509 1,$09 Totsl 1.870 l.B70 NEfiNCOME 26,328 iO,C4)0 36,328 Transfers bEtween fvnds io,c(Jo lio,0001 Net mo¥tmÈnt In lunds 36,328 36,328 TOTALFUNDS fARRIED FORWARO 36,328 36,328 The note5 form part ofthe5eflnanclal statements Page 4 COWES HERITAGE AXD COMMUNIIYGROUP BALANCE SHE 31 DECEMBER 2021 Unrestricted funds Restrlcted fund Totsl fund5 FIXED ASSErs Tan8iblÈ assets 26.856 26.856 CLIARENT ASSETS Cash at bank 9,832 9,832 CREDITORS Arnounts falllng due wlthin one year 13601 13601 NEF CURRENT ASSEtS 9N72 9.472 TOTAL A55Efs LE55 CURRENTiIABILITIES 36,328 36,328 36,328 36,328 FUNDS Unrestrirtod fvnds 36,328 TOTAL FUNDS 36,328 The flnanclal Statements were approved by the Board of Tnjstees and author15ed for Issue . We￿ sl8ned on it5 bÈhalf bv.. on L HayWa￿-TruStee lJllL(JoL,JKi)LI E M Maeken2le-TTUStee The notes foim part ofthe5e flnancial statemei)ts Page 5 COWES IIERITAGE AND COMMUNITYGROUP NOTESTOTHE FINANCIAL STATEMEP4TS FOR THE PERIOD 2 N￿￿MBER 2020TO 31 DECEMBER 2021 ACCOUNTING I>OLICIES Baslsof preparlngthe flnandal statements The financial statements of the charty, which is a public benèfit entity undÈr FRS 102, have been prepared in accordance wilh the Charthes SORP IFRS 1021 ACCO￿nting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financlal RÉportlng standard appllcable In the UK and Republlc of Ireland IFRS 1021 leffective l January 20191,, Financlal Reportlng Standard 102 Yhe Financlal Reportln8 Standard applicable ￿ the UK and Republit of Irèland, and the Charities Act 2011. The financial ststernents ha¥e been prepared underthe historical cost convention. Intome All Income Is recognlsed In the Ststement OF Flnanclal Activltie5 once the charity has entitlement to the funds, It 65 probable thatthe income will be received afid the amount can be measured rellablv. E¥pendlture Liabilities are recognlsed as expendlture as soon as there Ss a legal oi constructlve obllgation committin8 the charity to that expendlture, St is probable that a transfer of economic benefits will be fequired in settlement and the amount of the obligation £an be measured reliably. Expenditure 15 accouwrted for on an accfuals basts and has been classlfied under heodlngs that aggregate all cost related to the cate80ry. Where ciJst5 rHnnoi dIrect￿ attributed to partKular headings they have been allocated to actNities on a basls consistent with the use of resource TanBlblellx*d assets Oepreciation 15 provided at thE follovthn8 annual rates In order to wrfte off èach asset over its estimated useful Taxatlon The charlty Is exemptfrom tax on its Char￿able activlties. Fund accountin Unre5trictedfurtds can be used In atctsrdèn¢e wlth the Cha￿table oblettives atthe discret4on of the trustees. Restricted funds tan only be used for partlcular restrlcted purposes wlthln the objects of the charity. ReMrictions arise when specified by the donor or when funds are raised for partjcular restrlcted purposes. Further explanatlon of the nature and purp)se of each fund 15 included in the note5to the fiwwncial ststements. OThER TRADING ACTMTIES Media sales 1,055 Page 6 continued... COWE5 HERITAGE AND COMMUNIIYGIIOUP NOTESTOTHE FINANOALSfATEMENTS-uiNtlnued FOR THE PERIOD 2 NOVEMBER 2020TO 310ECEMBER 2021 TRUSTEES, REMUNÉRATION AND BEP4EFIT5 There were no trustÈe5' remuneration or other benefrt5 forthe pefN)d ended 31 December 2021. There were no trustees, expEnses paldfoithe perlod ended 31 December 2021. YANGIBLE FIXEDASSETS Improvements to propertv COST Addition5 26,856 f4£T OOOK VAtUE At 31 December 2021 26,856 CREDITORS: AMouf4TS FAUING DUEWITHIM ONEYEAA Other creditors 360 MOVEMEPIF IN FUNDS Net movement in funds Transfers between fund5 At 31.12.21 Unres￿rted fijnds General fund Fixed a55ets 26,328 116,8561 26,856 9,472 26,856 26.328 iO,OLX) 36,328 Resln'rttd funds Buildlng works io,o(yJ iio.o(xJl TOTALFurvs 36,328 36,328 Page 7 contlnued... COWES HERITAGE AND commuN￿GRollp NOTES TO THE FINAPKLAL ￿ATEMENTS- contlnued FOR THE PERIOD 2 NOVEMBER 2020TO ai DECEMBER 2021 MOVEMEMf IN FUNDS-conllnued Net movement in funds, induded inthe above are asfollows.. Incomlng resouros Resources expended Movement in funds Unrestrkted fwids General fvnd 28.198 11.8701 26.32B RÈstrrctèd funds Buildlng works iO,LM)O 10.000 TOTALFUNDS 38,198 11.8701 36,328 Des5snated funth Fixed assetfund The Trustees have decided to show reservp5 felating to fiKEd 355ets 5Èpaiately to free reserve5 to 8fve users a clearer p5rture of the charity's financial pos6tlon. Re5trlEted funds Building works Thi5 fund represents a grant that the charity Ye￿ived that could onty be used on the buildbng works requlred to be caryled out at the Beckford Centre. Transfers t￿tWeen fuTrd5 The transfer between the building 3nd generdS fund was required because the charity had spent the restricted 8Tant butthe asset is avallableforgeneral use by the charity. A furthèr transfer from the general fund to the fiKed asset fund wd5 $0 as to Show the reserves relatlng the tharlty's fixed assets separatelyfrom its free ￿ServeS. Page 8 cOn￿n￿ed... COWES HERtWAGEAND commuN￿v GR(XIP DETAILEDSTATEMENT OF AI4A14CIALAcrivmES FOR THE PERIOD 2 NOVEMBER 2010 TO 31 DECEMBER IOZI INCOME AND ENDOWMENTS l)onatlons and leKade5 Donations Grdnt5 Subscriptions 25,403 1,300 27,143 Othertradlng actlvhlès Medla sates 1,055 Charitthle acllv5tle5 Grants M).0￿] T•)tsl IncomlngRsour¢t5 38.198 &YPENDITURE Ralslng donatlon5 ond leyd•s Postage and stationery StEndries Computer aThJ website 172 24 152 348 OthertradSng actlvlues Commisslon CharftaNe Insuran Utiltties Property repairs AccountanLV 349 707 93 360 1.509 Total resources eipended 1,870 Net Income 36,328 s page does not ftsrni partof thestatutory fln3ncial statements Page ID