ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
HONITON COMMUNITY SPACES
(CUB)
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1192604
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
HONITON COMMUNITY SPACES (CUB)
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Pages 4 to 5 | Trustees' Report |
| Page 6 | Statement of Financial Activities |
| Page 7 | Balance Sheet |
| Pages 8 to 13 | Notes to the Financial Statements |
| Page 14 | Independent Examiner's Report |
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HONITON COMMUNITY SPACES (CUB)
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1192604 DATE OF REGISTRATION 1st December 2020 START OF FINANCIAL YEAR 1st January 2022 END OF FINANCIAL YEAR 31st December 2022 TRUSTEES AT 31ST DECEMBER 2022 Michael Jones Thomas Hedger Diana Virgin Christopher Doran Miriam Thomas (Appointed 1st December 2022) Brian Houlihan (Appointed 26th October 2022) Zoe Allars (Resigned April 2023) Stephen Craddock (Resigned November 2022) Jason Hannay (Resigned December 2021) LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Foundation Registered 1st December 2020
OBJECTS
To further or benefit the residents of Honiton 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 promote facilities in the interest of social welfare for recreation and leisure time occupation with the object of improving the condition of life for the residents. In furtherance of these objects but not otherwise, the Trustees shall have the power: a) To establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for the activities promoted by the Charity in furtherance of the above objects.
CORRESPONDENCE ADDRESS Honiton Community Use Building School Lane Honiton Devon EX14 1QW PRIMARY BANKERS Lloyds Bank Plc 25 Gresham Street London EC2V 7HN INDEPENDENT EXAMINERS Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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HONITON COMMUNITY SPACES (CUB)
(Charitable Incorporated Organisation)
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022
Community Use Building
The project is an astonishing success in the way it is being used by a large number of community groups and particularly vulnerable, less-abled, low-income and mental mentoring & supporting groups.
With over 500 regular users a week and 15 different groups that provide, safe supervision, care, health and well-being, fun, life-skills, crafts and family support.
But of course, we are reminded daily that we not only have vulnerable users we also have a vulnerable building which needs a great deal of time and TLC and a lot of money to keep it safe and to stop the rain coming in.
From a base of existing four user groups in 2021, now we can hardly cope with the demand for safe space. The existing voluntary users were the Youth Club, Mother & Toddlers, 729 Club plus the anchor tenants who are Third Sector social care companies providing vital support with adults with additional needs who live in the community.
Although the last 3 years has been a traumatic experience as we try to keep the building intact, we have also seen tremendous growth of need from vulnerable groups seeking safe usable spaces. We now have 15 different groups in the building and in the woodland craft centre and many of them simply treat this facility as a second home.
If we can only mend our building then this would be an amazing success story and a unique facility unapparelled in the provision for vulnerable groups in the whole of East Devon.
The financial viability of the CUB is now well established and we have managed to employ Clare as our Centre Manager which has greatly increased the sense of family and pastoral care on the whole site and hugely increased the sustainability of the project. We can now confidently imagine our long-term plan for the site coming gradually into vision.
The exciting news is that as of July 2023 we have been successful in fund raising for urgent, emergency and vital repairs. New roof, new windows, fire safety and security compliance can all addressed and are presently being planned for the next few months.
The development of the woodland craft centre has been a major success and an opportunity to connect to so many more groups in the community. It has also given us a deeper understanding that this site is as much about the health & well-being of the outside natural environment as in the usual activities inside the building.
This last 12 months has seen a great leap forward in how this site is used by the community and in every way, it has exceeded our expectations; if we can keep the funds rolling in then the building can be completely, mended, updated and expanded to respond to the overwhelming community needs in Honiton and East Devon.
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HONITON COMMUNif( SPACES (CUB) TRiJSTEES' REPORT IContinu•dl FOR THEYEAR ENDED 31ST DECEMBER 2022 Tru•'Re&p0nA1l Charrt$ Aci 2Q11 reryes tho sWeMe for Each Nch fv a Iwe and fa vw of Ihe stsie of •ffas d tr c and d ** ol () ln i18 swements IhE Irusteoswfr requtrqd I . ilwl . Prepare cn Cor iwis to weaum IP•t ts CIO Thè IfLtstsèS ar r¢spcffitle keetdng pw XUmllThJ rets ¥Jlh rea¥onth XCLVXY al Ilme I n•n¢iaS of tho W. TW 4r• •lw rebI9 fc¢ gafeguth CKI liw r8awb IILkth
HONITON COMMUNITY SPACES (CUB)
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Activities for Generating Funds 3b Investment Income 3c Other Incoming Resources 3d TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 16,991 - 16,991 33,531 30,594 - 30,594 5,420 6 - 6 - 11,745 - 11,745 585 59,336 - 59,336 39,536 52,863 - 52,863 10,467 4,662 - 4,662 8,987 57,525 - 57,525 19,454 1,811 - 1,811 20,082 20,082 - 20,082 - 21,893 - 21,893 20,082 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 13 form part of these financial statements.
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HONITON COMMUNITY SPACES {CUB) BALANCE SHEET AS AT31ST DECEMBER 2022 Totsl 31.D•c-n Totst 31-D•¢-21 Flxed Aswts Aell In¥¥lmenls Ttyt•l FIAed Aswts Curronl AsMI¥ C•4h 1 ••nk •hd iti T•1 CurreDt As5et5 22.676 24.271 22,676 20,457 20.657 2J78 2?78 373 21J93 TOTALASSETS r#mN 21.193 21093 20,082 e year a1.1ga Fundolth•Chirlty Gener Fwd¥ Rttitricted FuTrJu 21J99 21ffi3 T•t•l Fuo 21.893 21.l•J 20.012 Iher Iri41••........ .. . ..
HONITON COMMUNITY SPACES (CUB)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. 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 (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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HONITON COMMUNITY SPACES (CUB)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Reducing Balance Basis
2. TANGIBLE FIXED ASSETS
The CIO held no fixed assets during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st December 2022 : None
31st December 2021 : None
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HONITON COMMUNITY SPACES (CUB)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gifts & Donations Grants Received b) Activities for Generating Funds Premises Hire c) Investment Income Interest d) Other Incoming Resources Insurance Income Sundry Income |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 8,976 - 8,976 3,651 8,015 - 8,015 29,880 16,991 - 16,991 33,531 30,594 - 30,594 5,420 30,594 - 30,594 5,420 6 - 6 - 6 - 6 - 11,090 - 11,090 - 655 - 655 585 11,745 - 11,745 585 |
|---|---|
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HONITON COMMUNITY SPACES (CUB)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
4. RESOURCES EXPENDED
| Nolte a) Cost of Charitable Activities Bank Charges Cleaning Costs Equipment Costs Gifts & Donations Health & Safety Costs Insurance Costs Office Costs Rent & Rates Repairs & Maintenance Staff Costs 12 Sundry Expenses Travel & Subsistence Utility Costs b) Governance Costs Independent Examiners Fees 9 Legal & Professional Fees |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 55 - 55 - 868 - 868 2,040 748 - 748 414 - - - 870 1,358 - 1,358 576 900 - 900 870 668 - 668 - 219 - 219 - 33,089 - 33,089 3,097 6,153 - 6,153 - 183 - 183 927 631 - 631 100 7,992 - 7,992 1,573 52,863 - 52,863 10,467 800 - 800 575 3,862 - 3,862 8,412 4,662 - 4,662 8,987 |
|---|---|
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HONITON COMMUNITY SPACES (CUB)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
5. RESTRICTED FUNDS
The CIO held no restricted fund during this or the previous financial period.
6. INVESTMENTS
The CIO held no fixed assets investments during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| Cash at Bank & in Hand 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Restricted Total Total Fund Fund 31-Dec-22 31-Dec-21 £ £ £ £ 22,676 - 22,676 20,457 22,676 - 22,676 20,457 Unrestricted Restricted Total Total Fund Fund 31-Dec-22 31-Dec-21 £ £ £ £ 1,595 - 1,595 200 1,595 - 1,595 200 |
|---|---|
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Sundry Creditors Independent Examiners Fees |
Unrestricted Restricted Total Total Fund Fund 31-Dec-22 31-Dec-21 £ £ £ £ 1,578 - 1,578 - 800 - 800 575 2,378 - 2,378 575 |
|---|---|
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this or the previous financial period.
11. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Total Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ - - - - 21,893 - 21,893 20,082 - - - - 21,893 - 21,893 20,082 |
|---|---|
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HONITON COMMUNITY SPACES (CUB)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
12. STAFF COSTS AND NUMBERS
| TOTAL 2022 £ Gross Wages, Salaries & Fees 6,153 Employer's National Insurance Costs - Pension Contributions - 6,153 Employees who were engaged in each of the following activities: TOTAL 2022 Charitable Activities 1 |
TOTAL 2021 £ - - - - TOTAL 2021 Nil |
|---|---|
The Charity employs members of staff on a Self-Employed Basis under a Contact for Services and is therefore not liable for their National Insurance and Pension Costs. No employees received emoluments in excess of £60,000.
13. TRUSTEES AND OTHER RELATED PARTIES
During the financial period, Clare Jones (Spouse to Trustee Michael Jones) received £6,153 under a Contract for Services for undertaking the cleaning and maintenance for Honiton Community Spaces (CUB) in furtherance of the Charity's objects. All conflicts of interest have been identified, documented and managed in accordance with the Charity's Governing Document.
No other payments were made to trustees or any persons connected with them during this financial period. No other material transaction took place between the organisation and a trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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