Friends of Downe Activity Centre FINANCIAL STATEMENTS of the TRUSTEES for the Perlod 10 June 2021 . 31 March 2022 Charlty Regl8tratlon Number 1194761 Independent Examlner.. SADLER FOGARTY SERVICES LTD TIAS Sadler Davies & Co Charte￿d Accountsnts 3 Enterprise House 8 Essex Road KENT DAI 2AU Registered Address: 3 Hilborough Way, Orpington, BR6 7EW Friends of Downe Activity Centre Trustees, Annual Re ort for the erlod from ioth June 2021 to 31st March 2022 Charitsble In¢orporated Organlsatlon: CE025534 Charlty number: 1194761 Reglstered Offlce: 3 Hilborough Way, Orpington. BR6 7EW Bankers: Metro 8anK Orpington, Bromley BR5 3RP Accountants: Sadler Fogarty Services Ltd. TIAS Sadler Davies & Co, Chartered Accountants, 3 Enterprise House, 8 Essex Road, Dartford. Kent DAI ZAU Dlrertors and trustees: The dirertors of the charitsble company Ithe charity) are its trustees for the purpose of charity law. Angela Righelato (Chair) Appointed 10 June 2021 Gavln Jackman (Vice Chairl Appointed June 2021 Christopher Hayes Appointed ioth June 2021 Thomas Dawkins Appointed 10th June 2021 Alice Jackman Appointed 10 June 2021 Govemln Document Friends of Downe Activity Centre became reglstered as a Charitsble Incorporated Organlsatlon on 10th June 2021 wlth the Charlty Commlssion. In the event of the CIO being wound up, Trustees of the CIO have no Ilability to contribute to its assets and no personal responsibility for settlln8 Its debts and liabilitles. Ob"ectlves and actlvltles To advance the outdoor education of young people. for the purposes of Physical and Mental Health, personal development and their environmentsl consciousness. Trustees consider ￿gUlarlY how planned activities wlll contribute to the aims and obje¢tlves set in accordance with publlc beneflt guidance. Chalrs Report and Review of the Year Intr¢)ductlon In order to prevent the site from being sold off to land developers and105ing thls communlty space we created Friends of Downe Actlvlty Centre which was formed in May 2021 with the express intention to pu￿haSe the slte from TSA to fulfil our objÈct as a charlty. In our infancy we formed the charlty, created the website and submitted a bld to TSA for the site. TSA decided we were the favourable optlon and accepted our bid of £2 million pounds (based on the $119 charity valuationlfft giving us just Six months to ralse funds. At the same time In mid-2021 we applled to London Borough of Bromley ILBB) councll for an Asset of Community Value IACVI status for the site, garnerlng over 10,000 signatures of support. This status was granted and offers several protectlons to the slte and to any potential community-based purchaser. We took this step as a contingency in case TSA backed away from the deal or we could not raise funds in time. In January 2022 it became apparent as a new and emerglng charlty atJust over one year. it 15 dlffi¢ult to evidence this additlonal provenance wlthout being operational and generating income throu8h the Site. However, if these measures were in place, they would view our application as robust. meeting their requirements for due dl1l8en￿, the last block to funding. We are confident we have built relationships with grant makers that will lead to funding once we have the operational provldence. We proposed the solution to TSA of a pre-purchase lease, whereby the Slte would be leased on a 5-10 year full repairing lease. This would provide the 5-7 year legacy period that grant makers like to see on lease arrangements to guarantee legacy. During this period, FODAC would continue to fundraise to ralse the purchase prlce and trlgger a break clause In the lease when the purchase prlce is reached. We expect this to take fivè years. Unfortunately. after months of negotiations in July 2022, TSA confirmed they were going to proceed with a Sale to a property Investment company. At thls polnt the Trustees of FODAC appealed to the Trustees of TSA for a wider conversatlon, thls was held late September 2022, this saw a refined more detailed proposal being submltted to the board of Trustees. Unfortunately, they voted overwhelmlngly for Immedlate sale of the slte. However, after a prolonged discussion {over nine months) TSA decided to move forward with another buyer, a land investor and developer who was cash ready. After a reminder from LBB of thelr legal position TSA informed the Council of thelr Intention to dispose of the slte and triggered the ACV and resultin8 moratorium. Volunteerlng We are extremely proud to say that through our workdays, events and regular Service Team commltments. The site and FODAC benefited from over 3,000 volunteering hours from our highly skilled volunteer team. Specific projerts included drain and structural surveys, Tree Survevs, Tree Surgery, Rewlrin& plumblng, and glazing. The Tuesday Crew have continued to manage the main reteption area, cuttin8 grass. mana8in8 hedges as well as maintenance. Workdays were well attended. with 6040 people in attendance. These allowed a B￿aterSC0pe of maintenance to be carried out across the site. Forestry weekends, our skilled team of tree surgeons spent 4 weekends making safe trees that had become dangerous, removing fallen trees as well as clearing significant wlndfall caused by the storms that battered the site in February and March. We are extremely grateful for everything that our volunteers have contributed.. time. energy, and support, Flnan¢ial Revlew The fundraising team has ralsed £72,086.30, as at the 31st March 2022. Cash funds held at year end amounted to £67,506.32. In addition to the attached accounts FODAC have also Validated Pled8es Personal Pledges12 Indlvidualsl £107.000 Company Pledges13 Companies) £20,000 Grouplunit Pledge517 entities) £31,500 Total £158,500 ment and Assets Over the last year, through networking in the lo¢al community and by approaching local businesses, we have asked for. collected, or been gifted a wide range of equipmentlassets for the day-to-day running of the site. Thls Includes the following,. catering equipment to the value of £5.000 a towable PR trailer complete with full AV setup and TV to the value of £4.OC#) • gardenin8 equipment. indudin8 several petrol lawnmowers. strlmmer's and other tools to the value of £1,800 fold up tsble5, chairs and benches to the value of £2.0 fully refurbished photocopier. including toner sets and paper to the value of £700.00 cleaning supplies and equipment to the value of £l,OLNI power tools to the value of £4.1 miscellaneoLtrS equipment and rtems to the value of £2,0￿) • event audio/¥isual equipment to the value of £6.OtKJ miscellaneous items to the value of £i.IXI) This report was approved by the trustees and signed on their behalf by.. Angela Righelato Chair Date: Lb.l. FRIENDS OF DOWNE AcfiviTY CENTRE STATEMENT OFNSSETS AND UABIUTIES AS AT31sf MARCH 202Z Note Unrestrlrted Restrlrted Tot•1 Z022 Tanslbla Flxed Assèts £98.L)J £98.00 Current Ass•ts Bank Accounts Prepayments & Accrued Income Totsl Ctsrnent Assets 65.506.32 £65,506.32 £2,000.00 £67,506.32 £67.506.32 Uabllltles.. amounts falling due within I year E125.00 £125.00 Curront A55ets le95 Cwrrent L*bMIUes £67,381.32 É67,381.32 Totsi Assets less Current Uabllllles £67A79.32 £67,479.32 FUNDS Un￿Stricted Funds- Génèral Restrirted Funds £58,279.32 £58.279.32 £9,200.C(I £9.2￿.00 £58,279.32 £9.200.00 £67.479.32 Slgned bw. Date.. 23.l.ZoL STATEmE1￿OFFIAA￿C￿Ac1rffl7ES FOR THE PERKID IOJUNE2021. 31 MARCH 2022 FuTrJ5 INCOMING RESOLIACES VDluntsry Income& Grants Charftabye ktivi¢ie5 Intt*nefrc4n Investments TOTAL INCOMING RESOURCES £45,685A £17201.21 £45,685.09 £26.401al £9,2CQ.tK* £62,886.30 £9.200.(KS m,086.30 RESOLIRCES EAPENDa) cha￿ta￿eArt1￿ltles Other E￿pe￿d6tUre TOTAL RESOURCES E￿ENDED £4.149.52 f457.46 £4,149.52 £457.46 £4.606.98 ￿￿INcOMING1{ OUTfjOIt161 RESOUftCES BÉFWTrAIIS £5&27932 9.2CIIC £67.47932 ADDITIONSTO & RELFASES HIOM AIMOS Nrf MOVÉMENTIN FUNDS £58.27932 9.200.00 £67.479.32 BALANCÉS BROLIGHT FWDAT IOJUNE 2021 BALANCES CARRIED FWDAT 31 MARCH 2022 £SB.27932 £9.200.L £67 479.32 FOR ThE PtThXl IOJUPIE 2021. 31 PIARCH2021 At￿n￿n•pa￿dQs rhe financlal ththrnents ha¥e betn wepwed thlerthe trdstorkacort afvj In a(cord•￿e *lth th¥lde5 statery￿￿t of RKgmmended PracOrt ISORP FR51021 Iolsand theawlllesAtl 3ML An IrhknTwJeDtwmlDth15 reg￿led ￿deIthe th•rltlesAtt2011. Ib FwK14(fwntl Unrestrfcted funds•re MI1•￿e foruse *thedbtre￿on ofthe Inthesfjn furt1￿ ofthe8wMAI obJecUv¢softhe thirtty. Restrirt¢d fvnds •r• wbl¢ded to th¢kw¢nd6bxe tswsed bythe domr. TA14fj18LE FLMED A55EIS Eouloment Costbm Addlt5ons Actumul*teé Dèllrttlttlon 10th￿￿• 2021 Charie lor £24.SO 14ET 8110K VAWE 31st Marth 2021 UAWUTIF5 FALiSN6 OIX VrnIM I YEA A¢uu•d •xp•ns•s Cr•dltors £U5. £L25.QI INCOMING AESIXJRLSS y4)￿￿1•ry In¢• Amazon Smll• £65.64 £29.974.20 £15,645.25 £29.974.20 £15.615.25 OonaUons- Glft lJd•d £45 685.09 4b Ch•rtt•bl• AtW¥*t Fundr41slw ArtMtIqs Fundra7￿￿0 ArtMtlés- GIftAlded Bad8QS 84d8•s-GfftAld•d Membqrshlps Member5hlps.GIftAld•d Natlonal Lottqry Comrnunlty Fund £2,55S.21 £7.51&((I £imi.o) £187.fy) £3.14k £2,?￿lx) £2,555.21 £7,515.C(* £1.021.CQ £187.C¢* £3.143.CQ £17W.LN) £92(rfJ.C Grant.. £92[￿.¢71 £17 1.21 W8Ès p￿ClAS0d Cornp￿tercg$ts FkÈwalk Insw￿ceS £J578 U9JSI £1gL51 er ProFE551w￿ 5Br¥I￿% PoSra8eardSta￿Ery Substrw>t*X E7tyts) £120 É4SA)J £U85m £12S £110.81 £45.ro £L3ts.07 Dewedauon k th¥ryes U4.50 43L96 É457.46 t457AS nyla H*h*roldoNredro