## **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **HONITON COMMUNITY SPACES** ## **(CUB)** (Charitable Incorporated Organisation) ## **CHARITY REGISTRATION No: 1192604** Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ ## **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| 2 ## **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 2023 **END OF FINANCIAL YEAR** 31st December 2023 **TRUSTEES AT 31ST DECEMBER 2023** Michael Jones Miriam Thomas Brian Houlihan Thomas Hedger Christopher Doran Diana Virgin Zoe Allars Gail Ann Evans (Appointed 27th July 2023) **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 Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ 3 ## **HONITON COMMUNITY SPACES (CUB)** (Charitable Incorporated Organisation) ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **Community Use Building** This report is being compiled in the summer of 2024 and we have now been the guardians of this community facility for nearly three years. 2023 was a year that will long last in the memory as the year of extremes; huge challenges that demanded great resilience and not a little grit and determination to carry on in the face of considerable adversity. But also, in the early part of the year the management team had slowly built up the number of users until almost 500 people a week were using the facilities and it was full almost every opening hour. The new manager was building excellent relationships with the users and establishing a pattern of using the building safely and efficiently giving a growing sense of familiar ‘family’ space. By the summer our long-held ambition of replacing the main roof was achieved as we were blessed by a gift from a very generous local benefactor as well as a steady stream of successful funding applications. By the end of August 2023 everything seemed good and we could have congratulate ourselves on a job well done….so far. Then came 16th September 2023 and the floods. Our site is serviced by an on-site pumping station and when that pumping station failed we had foul sewage flooding across the entire lower hall. And so began the difficult and tortuous journey of building closure, insurance claims, clean-up and rebuilding. That by itself would have been difficult enough, but two additional floods made the job almost impossible and there were many moments when recovery seemed very uncertain. In the community all those 500 users were distressed as promises of re-opening were continuously postponed. Inside the building are best efforts at rebuilding were constantly hampered by new flooding. By mid-November we eventually had a fifth visit from South West Water, this time their best team of engineers solved the problem. After hundreds of hours of work from trustees and our manager dealing with mountains of admin, insurers and subcontractor co-ordination we eventually re-opened for the Christmas charity Operation Rudolph which feeds 150 people Christmas lunch. Inevitably some clients found other places to meet and so we started working hard to find new users and rebuild the income stream. The re-built facilities are now of a good quality and will attract a bigger variety of community users. The new kitchen refurbished lower hall with new fire escape and ramp and refurbished toilets are a major improvement in the overall quality of the spaces. We can look forward to the next phase of our development with new opportunities to expand activities across the site and linking more to the wider community. 4 HONITON COMMUNITY SPACES {CUB> Icharitalje Incorporated Organisatsonl TRUSTEES, REPORT {Contlnuèdl FOR THE YEAR ENOED 31ST DECEMBER 2023 Trust888' R88pon81bllltl88 trustees a￿ resrowbk for p￿par1rYj the Trw%tees' Rewrt aThJ the firontsal Statements in acetydance with appl¢able Law and the Ge￿rallY Accepted Ac¢ountiThJ Principles IGA4PI i￿1r9 Financk?l RetKJrting Stsndarcl 102.. The Financkal Rerorting StsrKlard applrable in the UK and RetxJtAic of IUnite(l Kiwjfyn Gererally knepted A¢countlThJ Pra¢llc¥l. The Chadtbs Act 2011 require the truslees to p￿pa￿ firy4rtg1 stateft*nts for each fir0￿la1 year whith give a true and falr vlew of state of affalrs of the CIO arKI of Ihe Su￿$ c* deficit ol the CIO that ￿r￿XI. In preparing those flnanclal $talemenls the trustees a￿ ￿quIre**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Donations, Grants & Legacies
**3a**
Activities for Generating Funds
**3b**
Investment Income
**3c**
Other Incoming Resources
**3d**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Cost of Charitable Activities
**4a**
Governance Costs
**4b**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING (OUTGOING) RESOURCES**
Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2023**
**2022**
£
£
£
£
91,420
-
91,420
16,991
33,999
-
33,999
30,594
218
-
218
6
26,223
-
26,223
11,745
**151,859**
**-**
**151,859**
**59,336**
152,431
-
152,431
52,863
7,132
-
7,132
4,662
**159,563**
**-**
**159,563**
**57,525**
**(7,704)**
**-**
**(7,704)**
**1,811**
21,893
-
21,893
20,082
**14,189**
**-**
**14,189**
**21,893**| |---|---| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 8 to 13 form part of these financial statements. 6 HONITON COMMUNITY SPACES {CUB> Icharitalje Incorporated Organisatsonl BALANCE SHEET AS AT31ST DECEMBER 2023 UMestriL1ed ReStrict￿j Furmts Funds Total 31.Doc-23 Total 31.0￿22 Flxed As50t5 Tangib￿ Assets Investment5 Totsl Flxed Assots Current Assets Debtor5 & Prepay￿ntS Cash al Bank and in Hand Total Curront Assets 4.110 11.063 15,173 4,110 11.063 15,173 1,595 22,67 24,271 Cr•dltors.' Amounts lalllng withln o year 2,378 NET CURRENT ASSETS 14.189 14,189 21,893 TOTAL ASSETS less current liabilities 14,189 14,189 21,893 Credltorn.. Amounts falllrg du• in rTh)rè than one year 10 NET ASSETS 14,189 14,189 21,893 Fund•ofthoCha￿ty Ger￿ra1 Funds Re$tri¢te¢ Fun¢$ 14,189 14,189 21,893 Totsl Fund• 14.189 14,189 21.893 111092024 Ap[￿Ve0 by the Trustees on..............................................................................................................................., M B Jones SKJre(J on t￿1r behalf by Trustee .......................................................................................................................... Prlnte(l Name.. Michael Bryn Jones ## **HONITON COMMUNITY SPACES (CUB)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **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 note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (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. 8 ## **HONITON COMMUNITY SPACES (CUB)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **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 2023 : None 31st December 2022 : None 9 ## **HONITON COMMUNITY SPACES (CUB)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **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
Refunds
Sundry Income|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2023**
**2022**
£
£
£
£
421
-
421
8,976
90,999
-
90,999
8,015
**91,420**
**-**
**91,420**
**16,991**
33,999
-
33,999
30,594
**33,999**
**-**
**33,999**
**30,594**
218
-
218
6
**218**
**-**
**218**
**6**
21,268
-
21,268
11,090
3,126
-
3,126
-
1,829
-
1,829
655
**26,223**
**-**
**26,223**
**11,745**| |---|---| 10 ## **HONITON COMMUNITY SPACES (CUB)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **4. RESOURCES EXPENDED** |**Nolte**
**a) Cost of Charitable Activities**
Bank Charges
Cleaning Costs
Equipment Costs
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
**2023**
**2022**
£
£
£
£
60
-
60
55
-
-
-
868
3,905
-
3,905
748
-
-
-
1,358
932
-
932
900
255
-
255
668
345
-
345
219
118,949
-
118,949
33,089
20,620
-
20,620
6,153
883
-
883
183
56
-
56
631
6,426
-
6,426
7,992
**152,431**
**-**
**152,431**
**52,863**
960
-
960
800
6,172
-
6,172
3,862
**7,132**
**-**
**7,132**
**4,662**| |---|---| 11 ## **HONITON COMMUNITY SPACES (CUB)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **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** ||Unrestricted|Restricted|**Total**|**Total**| |---|---|---|---|---| ||Fund|Fund|**31-Dec-23**|**31-Dec-22**| ||£|£|**£**|**£**| |Cash at Bank & in Hand|11,063||-
11,063|22,676| ||**11,063**||**-**
**11,063**|**22,676**| |**8. DEBTORS AND PREPAYMENTS**
Sundry Debtors|Unrestricted
Fund
£
4,110|Restricted
Fund
£|**Total**
**31-Dec-23**
**£**
-
4,110|**Total**
**31-Dec-22**
**£**
1,595| ||**4,110**||**-**
**4,110**|**1,595**| |**9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Sundry Creditors
Independent Examiners Fees|Unrestricted
Fund
£
24
960|Restricted
Fund
£|**Total**
**31-Dec-23**
**£**
-
24
-
960|**Total**
**31-Dec-22**
**£**
1,578
800| ||**984**||**-**
**984**|**2,378**| ## **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-23**
**31-Dec-22**
£
£
£
£
-
-
-
-
14,189
-
14,189
21,893
-
-
-
-
**14,189**
**-**
**14,189**
**21,893**| |---|---| 12 ## **HONITON COMMUNITY SPACES (CUB)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **12. STAFF COSTS AND NUMBERS** |**TOTAL**
**2023**
£
Gross Wages, Salaries & Fees
20,620
Employer's National Insurance Costs
-
Pension Contributions
-
**20,620**
Employees who were engaged in each of the following activities:
**TOTAL**
**2023**
Charitable Activities
2|**TOTAL**
**2022**
£
6,153
-
-
**6,153**
**TOTAL**
**2022**
1| |---|---| 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 £20,228 (2022: £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. 13 ## **HONITON COMMUNITY SPACES (CUB)** (Charitable Incorporated Organisation) ## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** Report to the trustees/ members of Honiton Community Spaces (CUB) on the accounts for the year ended 31st December 2023 set out on pages 6 to 13. ## **Respective responsibilities of trustees and examiner** The charity's trustees 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. It is my responsibility to: - examine the accounts under section 145 of the Charities Act, - 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: 1. which gives me reasonable cause to believe that in any material respect, the requirements: - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ Date: 13th September 2024 14