R EGISTERED CHARITY NUMBER: 1198207
MARSH RECREATION GROUND AND COMMUNITY CENTRE TRUST CIO
TRADING AS THE EDWARD MARSH CENTRE
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
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MARSH RECREATION GROUND AND COMMUNITY CENTRE TRUST CIO TRADING AS THE EDWARD MARSH CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST MARCH 2024
| Page | |
|---|---|
| Report of the Trustees | to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | **6 t8 ** |
| Detailed Statement of Financial Activities | 9 |
MARSH RECREATION GROUND AND COMMUNITY CENTRE TRUST CIO TRADING AS THE EDWARD MARSH CENTRE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 st March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ireland (FRS 102)(effective 1 January 2019).
i
OBJECTIVES AND ACTIVITIES
Objectives and aims
The provision and maintenance of a community centre and playing field and recreation ground for the use of the inhabitants of the Parish of Kinver and the neighbourhood.
Significant activities
Provision of sporting activities including football, cricket and other outside facilities including skate park and basketball together with numerous indoor activities for organisations including U3A, indoor bowling, keep fit classes, art classes, model engineers, repair cafe and social events. The centre has a community cafe, run primarily by vohmteers which has become very successful.
Public benefit
The Trustees confirm that they have had regard to the guidance issued by the Charity Commission on public benefit
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The main achievements in the year under review have been the considerable maintenance and improvement to the internal condition and decor of the building for the benefit of the users and the community. This was made possible by the substantial input of the Trustees and volunteers .
FINANCIAL REVIEW
Financial Review
This is the first full financial year of the charity operating as an incorporated charity. Therefore, the accounts for the previous year are not representative of a full financial year’s income and expense and the accounts for KSCA (charity 522687) should be considered in conjunction with EMC to understand the full prior year comparative results of the charity.
Reserves policy
The charity has a policy for holding ring-fenced reserves for the playing fields, roof repairs and for building n renovation costs. As of 31.03.24 the playing fields fund holds reserves of £6,732 (2023 - £8,616) contingency fund holds reserves of £10,000 (2023 - £10,000) and building renovation costs £10,000 (2023 - £10,000).
The charity has received several grants during the year that are still work in progress, the total amount held at 31.03.24 is £40,641 (2023 - £99,313) of which £21,474 (2023- £54,450) relates to landscaping and planting of the Sterrymere, £15,000 (2023 - £15,000) to refurbish changing rooms and £4,167 (2023 - £4,637) for other grant work. The automated barrier and k-gate project (2023 – £25,226) was successfully installed during the year, most of the other projects will be completed in the next 12 months.
During the year, the charity was awarded a grant of £99,475 from SSDC UKSPF residual fund to underpin the building and refurbish the changing rooms and disabled toilet facilities. The total project cost is £142,107. The Charity must make up the shortfall, £15,000 is already ring fenced (see above) and the remaining £27,632 will come from general reserves, therefore this amount has been ring fenced. The funds will be received from SSDC as work is invoiced by the contractor. Most of this work will be completed in the next 12 months.
The further balancing reserves of £31,566 (2023 - £32,804) are viewed as general working capital of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an incorporated charity.
Pagel
191712024 P4W4T
MARSH RECREATION GROUND AND COMMUNITY CENTRE TRUST CIO TRADING AS THE EDWARD MARSH CENTRE
| STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 INCOME AND ENDOWMENTS FROM Donations and grants Other trading activities Total EXPENDITURE ON Charitable objectives NET INCOME (EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD Note 2 |
2024 Totl fnds £ 49,448 152,075 |
2023 Totl fd £ 152,742 77,106 229,848 69,115 |
|---|---|---|
| 201,523 235,685 (34,162) 160,733 126,571 |
||
| 160,733 _O _ 160,733 |
The notes form part of these financial statements
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MARSH RECREATION GROUND AND COMMUNITY CENTRE TRUST CIO TRADING AS THE EDWARD MARSH CENTR E
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
l. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS I02, have been prepared in accordance with the Charities SORP (FRS I 02) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 201 I. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared on a receipts and payments basis.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the Report of the Trustees. 2. OTHER TRADING ACTIVITIES
| Fundraising events Cafe and bar commission Community Cafe Football pitch hire Hire of hall and rooms |
2024 £ 15,090 9,163 78,393 4,191 45,238 152,075 |
2023 £ 8,161 3,765 42,102 1.091 21,987 77,106 |
|---|---|---|
3.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 (2023 NIL).
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 st March 2024 (2023 NIL)
continued. ..
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MARSH RECREATION GROUND AND COMMUNITY CENTRE TRUST TRADING AS THE EDWARD MARSH CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
4. STAFF COSTS
T he average monthly number of employees during the year was as follows :
| 5. Direct staff No employees received emoluments in excess of £60,000. MOVEMENT IN FNDS Unrestricted funds W orking capital Playing fields Contingency Renovation Sterrymere The National Lottery Changing rooms& underpinning Other Donors TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds Working capital Playing fields Contingency Renovation Sterrymere The National Lottery Changing rooms& underpinning Other Donors TOTAL FUNDS ! |
At l.423 £ 32,804 8,616 10,000 10,000 54,450 3,866 0 160,733 160,733 Incoming reour £ 107,133 4,191 0 0 12,250 6,852 28,465 201,523 201,523 40,997 42,632 |
2024 7 Net movement in funds £ (1,238) (1,884) 0 0 (32,976) (1,290) (39,406) (34,162) 42,632 |
2024 7 Net movement in funds £ (1,238) (1,884) 0 0 (32,976) (1,290) (39,406) (34,162) 42,632 |
2023 7 At 31.3.24 £ 31,566 6,732 10,0 10,0 21,474 2,576 1,591 126,571 42,632 |
|||
|---|---|---|---|---|---|---|---|
| (34,162) | 126,571 | ||||||
| Ru expnde £ (108,371) (6,075) 0 0 (45,226) (8,142) (67,871) (235,685) (235,685) 0 |
Movement in fnds £ (1,238) 0 0 (32,976) (1,290) (39,406) (34,162) (34,162) (1,884) 42,632 |
||||||
continued. ..
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MARSH RECREATION GROUND AND COMMUNITY CENTRE TRUST CIO TRADING AS THE EDWARD MARSH CENTRE
NOTES TO THE FINANCIAL STATEMENTS - cont continued FOR THE YEAR ENDED 31 ST MARCH 2024
5. MOVEMENT IN FUNDS - continued Comparatives
for movement In funds
| Net movet |
A | ||
|---|---|---|---|
| Atl.4.22 | in fd | 313.23 | |
| Unrestricted funds | £ | £ | £ |
| Working capital Playing fields |
0 0 |
8,616 32,804 |
8,616 32,804 |
| Contingency | 0 | 10,000 | 10,000 |
| Renovation | 0 | 10,000 | 10,000 |
| Sterrymere | 0 | 54,450 | 54,450 |
| The National Lottery | 0 | 3,866 | 3,866 |
| Other Donors | 0 | 40,997 | 40,997 |
| 0 | 160,733 | 160,733 | |
| TOTAL FUNDS | 0 | 160,733 | 160,733 |
Comparative netmovement in funds, included in the above areas follows :
| Icom | Resu | Moeme | |
|---|---|---|---|
| reou | **exn ** | i fd | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Working capital Playing fields Contingency Renovation Sterrymere The National Lottery OtherDonor |
96,348 9,037 10,000 57,500 3,866 43,097 10,000 |
(63,544) 0 0 (3,050) 0 (421) (2,100) |
32,804 8,616 10,000 10,000 54,450 3,866 40,997 |
| TOTAL FUNDS | 229,848 | (69,115) | 160,733 |
| 229,848 | (69,115) | 160,733 |
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 st March 2024 (2023 NIL)
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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| INCOME AND ENDOWMENTS Donations and Grants Sundries Donations and Grants Transfer from KSCA Other trading activities Fundraising events Cafe and bar commission Community cafe Football pitch hire Hire of hall and rooms Total Incoming resources Expenditure Raising Donations and legacies Wages Water Booking fees Light and Heat Telephone& alarm rental Professional fees and licenses Cleaning materials & travel Football sundries/ pitch marking(nc £5,334 for tractor) Football/Purchase of new tractor(total £32,334) Automated barrier Repairs & refurbishments Refuse collection & pest control Community cafe expenses Sterrymere grant Other expenditureOverheads Insurance Accountancy Sundry expenses Total resources expended Net Income/(expenditure) |
2024 £ 1,881 47,567 0 4 9,448 15,090 9,163 78,393 4,191 45,238 152,075 201,523 14,952 922 3,285 18,297 832 6,680 241 6,075 27,000 24,,600 8,518 3,713 45,226 5,535 450 6,769 12,754 235,685 (34,162) 61,242 171,331 |
£ 2,540 85,434 64,742 152,742 8,161 3,765 42,102 1,091 21,981 77,106 229,848 4,637 455 1,100 6,908 349 8,913 3 42 0 7,912 48 28,921 3,050 2022 2023 0 |
|
|---|---|---|---|
62,747 5,061 0 1,307 |
|||
| 6,368 69,115 |
|||
| 160,733 |
This page does not fonn part of the statutory financial statements
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