Fairfield Community Trust (Registered charity, number 1194736) Financial statements for the year ended 31 July 2022
| Page | Contents |
|---|---|
| 2 - 3 | Trustees’ annual report |
| 4 - 5 | Independent examiner’s report |
| 6 | Receipts & payments account |
| 7 | Statement of assets & liabilities |
| 8 | Notes to the accounts |
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Fairfield Community Trust (Registered charity, number 1194736) Financial statements for the year ended 31 July 2022
Full name: Fairfield Community Trust
Registered charity number: 1194736
Principal address: Fairfield Community Hall, Kipling Crescent, Fairfield, SG5 4GY
Trustees (as at 31/07/22:
Mr Nicholas Andrews Ms Anna Papakosta Mr Barrie Dack Mrs Julie Turner Mrs Sara Chick Ms Marcia Epstein Mr Grant Bellingham
Independent examiner
Matthew Westlake ACMA, CGMA, 2 Juniper Mead, Stotfold, SG5 4RU
Governance and management
The charity is operated under the rules of its CIO Foundation dated June 8,2021.
Aims and objectives
The property and the trust fund and its income shall be applied for the purposes of a community of Fairfield for the use of the inhabitants of the area of benefit without distinction of sex, sexual orientation, age, disability, nationality, race or political, religious or other opinions, including use of the property for meetings, lectures and classes or other forms of recreation and leisure time occupation in the interests of social welfare and with the object of improving the conditions of life for the said inhabitants.
Summary of the main activities undertaken for the public benefit:
The year opened with a change in name of the Trust and a slight variation of its objectives. The new Trust Deed also sees us operate under a CIO Foundation rather than as a Standard Trust.
Under the previous trust our activities had to be confined to our immediate premises whereas we can now widen this and hold events on the various green spaces of the village. The change to a CIO was to give financial security to our trustees.
2022 also saw us begin our 10[th] year of operation during which time we were using the building by a permission letter from the developers, Linden Homes (Northern). After a long-drawn-out saga, the ownership of the hall was transferred to the Fairfield Parish Council in accordance with the 106 Agreement.
This gives the Trust a lot more freedom. A letter of agreement has been exchanged between the Council and the Trust with the former now responsible for the external of the building and the Trust the internal. It also means that we can spend money on improvements safe in the knowledge that now we have security of tenure.
Over the 10 years we had built up a substantial surplus, but we are now looking at improvements and alterations and expect our surplus to shrink to an acceptable level over the next two years.
Fairfield Community Trust (Registered charity, number 1194736) Financial statements for the year ended 31 July 2022
In the immediate future, we intend to install a battery for our solar panels so that we use our excess rather than return it to the National Grid, change and update the boiler of our central heating system and paint the interior.
James Woollett decided to stand down as a trustee at the changeover and we thank him for his services. Grant Bellingham, Sara Chick, and Marcia Epstein agreed to become trustees and we thank them for the contributions they are making.
We closed the year with a cash balance (surplus) of £65,459.52.
Signed on behalf of the charity’s trustees:
Signed (Trustee) ____ Date 23[rd] May 2023
Signed (Trustee) ____ Date 23rd May 2023
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Fairfield Community Trust (Registered charity, number 1194736) Financial statements for the year ended 31 July 2022
Receipts & payments account 2021-22
| 2021 £ Receipts £22,334.74 Regular Hire £4,709.22 Occasional hire £0.00 Payments in Advance £35,197.89 Donations and Grants £0.00 Sundry Income Deposits held Bank Interest |
2022 £ £55,086.12 £11,656.00 £1,836.00 £6,709.41 £5,356.55 £300.00 £4.98 |
|---|---|
| £62,241.85 Total receipts |
£80,949.06 |
| Payments £14,757.66 Wages, NI & pension £511.04 Professional Fees £2,593.36 Electric £1,521.35 Gas £697.68 Water and Sewage £29,904.46 Renewals £15,139.54 Repairs £2,231.17 Insurance £541.65 IT Costs £403.38 Telephone/internet £316.91 Community Events 0.00 Consumables £0.00 Postages 88.34 Printing & Stationery £762.95 Janitorial/Cleaning Services £1,968.72 Licences/Permits Refreshments £312.19 Bank Charges £200.00 Donations £232.71 Sundry Payments |
£27,653.37 £2,088.00 £762.00 £1,897.76 £931.45 £5,625.65 £10,116.79 £579.96 £472.17 £428.44 £4,499.05 £700.00 £0.00 £122.37 £1,664.38 £194.00 £121.52 £239.55 £0.00 £171.20 |
| £72,183.11 Total payments |
£58,267.66 |
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Fairfield Community Trust (Registered charity, number 1194736) Financial statements for the year ended 31 July 2022
| -£9,941.26 Net receipts/(payments) |
£22,681.40 |
|---|---|
| £52,719.38 Cash funds at start of this period Transfers between funds |
£42,778.12 |
| £42,778.12 Cash funds at end of this period |
£65,459.52 |
Statement of assets and liabilities at 31 July 2022
| Cash assets Bank Account - CAF Bank Account - PayPal Cash in hand Other Monetary Assets Debtors Liabilities |
£61,401.46 £4,025.79 £32.27 |
|---|---|
| £65,459.52 | |
| £913.75 £24.00 |
These financial statements are accepted on behalf of the charity by:
Signed (Trustee)
__ Dated 23 May 2023
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Fairfield Community Trust (Registered charity, number 1194736) Financial statements for the year ended 31 July 2022
Fairfield Community Trust Notes to the accounts for the year ended 31 July 2022
1. Receipts & payments accounts
Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received and cash spent will include transactions through bank accounts and cash in hand.
2. Debtors
£
Overdue Hirers 913.75
3. Creditors
£
Overdue creditors 24
4. Trustees’ remuneration
Trustees received no expenses, remuneration or benefits in this period.
5. Glossary of terms
Creditors: These are amounts owed by the charity, but not paid during the accounting period.
Debtors: These are amounts owed to the charity, but not received in the accounting period.
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