REGISTERED CHARITY NUMBER: 1202694
Report of the Trustees and
Unaudited Financial Statements for the Period 12 April 2023 to 30 April 2024
for
Bromham Community Hub
Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
Bromham Community Hub
Contents of the Financial Statements for the Period 12 April 2023 to 30 April 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
Bromham Community Hub
Report of the Trustees for the Period 12 April 2023 to 30 April 2024
The trustees present their report with the financial statements of the charity for the period 12 April 2023 to 30 April 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objects are:
To further or benefit the residents of Bromham in the county of Wiltshire 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 provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents.
Significant activities
The primary focus of Year 1 activities of the charity has been preparing for and initiating procurement of a £1.2m building, in which all future community activities in Bromham will take place. Throughout 2023 Bromham Community Hub supported Bromham Parish Council who had initiated the early stages of the capital project development process in August 2021. Bromham PC appointed Oxford Architects in April 2023 to design the building and a pre planning public consultation on the design was held and unanimously approved by the community members present. In December the application for planning permission was made. In January 2024 Bromham Parish Council formally handed over all responsibility and available funding for the construction to Bromham Community Hub. In March 2024 the old charity Bromham Social Club ratified an earlier decision and submitted the necessary application to the Charity Commission to close, and transfer remaining assets to Bromham Community Hub as the successor charity. We await formal notification of the transfer of remaining assets.
Having assumed full responsibility for the project, since January 2024, Bromham Community Hub, in order to procure a construction partner, has appointed Oxford Architects, Girafffe Engineering, Envirotas Consultancy (Mechanical and Electrical) to provide technical information and drawings. VWV LLP for legal services and Horsecombe Projects undertaking the roles of Quantity Surveyors and Employers Technical Agent will represent Bromham Community Hub interests throughout the remainder of the construction project. The tender documents, have been prepared in consultation with all of the appointed companies, and were issued in April 2024 to a shortlist of contractors. All identified contractors have a proven track record with the public sector for Design and Build contract projects, with a value of between £1-2million.
The procurement process is being supported by the Government department responsible for the Community Ownership Fund from whom we have been awarded a £300,000 grant towards the building. Further fundraising is still required, with a bid into the National Lottery for a further £100,000.
Public benefit
The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake. The trustees consider that they have acted in the public benefit.
ACHIEVEMENT AND PERFORMANCE
-
Supported Parish Council appointment of architects and through RIBA design stages1-3 in 2023 until planning application in early December 2023
-
Awarded £300,000 grant from Community Ownership Fund 21st Dec 2023
-
Other sources of local fundraising have raised £75,000 to date
-
Took on whole responsibility for construction project
-
Procured and engaged range of construction consultants Feb- April 2024
-
Produced Employers Requirement and all Tender Documents Feb-April 2024
-
125yr lease for parcel of land for Parish Council agreed April 2024
-
Construction project issued for tender April 2024.
FINANCIAL REVIEW
Financial position
At 30 April 2024 the charity held total funds of £349,624.
Reserves policy
A reserves policy is not currently required, all funds received for this current year will be used for the construction phase of the Bromham Hub project.
Page 1
Bromham Community Hub
Report of the Trustees for the Period 12 April 2023 to 30 April 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document. The charity is a Charitable Incorporated Organisation (CIO) registered 12th April 2023.
Recruitment and appointment of new trustees
The constitution and Charity Commission rules, stipulate that the initial Trustees must either stand down, or put themselves up for re-election, after an initial 18-month period. Current activity in the community is around identifying potential Trustees for the next period. Some current Trustees will be standing down, role profiles are being prepared to support the proposal and election of new Trustees, to maintain strong governance and continuity through the construction phase of the project.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1202694
Principal address
New Road Bromham Chippenham SN15 2JB
Trustees
S Wilkinson (appointed 17.4.23) Mrs K M White (appointed 17.4.23) J Hindle (appointed 17.4.23) R Phillips (appointed 17.4.23) G Prichard (appointed 17.4.23)
Independent Examiner
James Gare FCA DChA Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
11 June 2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Trustee
Page 2
Independent Examiner's Report to the Trustees of Bromham Community Hub
Independent examiner's report to the trustees of Bromham Community Hub
I report to the charity trustees on my examination of the accounts of Bromham Community Hub (the Trust) for the period 12 April 2023 to 30 April 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
James Gare FCA DChA
Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA 19 June 2024 Date: .............................................
Page 3
Bromham Community Hub
Statement of Financial Activities for the Period 12 April 2023 to 30 April 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 - Other trading activities 4 - Investment income 5 - Other income 6 - Total - EXPENDITURE ON Charitable activities 7 Community hub - NET INCOME - TOTAL FUNDS CARRIED FORWARD - |
Restricted fund £ 9,608 500 280 375,000 385,388 35,764 349,624 349,624 |
Total funds £ 9,608 500 280 375,000 |
|---|---|---|
| 385,388 | ||
| 35,764 | ||
| 349,624 | ||
| 349,624 |
The notes form part of these financial statements
Page 4
Bromham Community Hub
| Balance Sheet 30 April 2024 Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Restricted funds TOTAL FUNDS |
£ 363,678 (14,054) 349,624 349,624 349,624 349,624 |
|---|---|
| 349,624 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 11 June 2024
............................................. Trustee
The notes form part of these financial statements
Page 5
Bromham Community Hub
Notes to the Financial Statements
for the Period 12 April 2023 to 30 April 2024
1. GENERAL INFORMATION
The charity is a Charitable Incorporated Organisation. The registered office address and principal activities are given in the trustees report.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound.
There are no significant areas of judgements or key sources of estimation uncertainty. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Current assets
Amounts owing to the charity are shown as debtors less provisions for amounts that may prove uncollectable.
Current liabilities
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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.
Page 6
continued...
Bromham Community Hub
Notes to the Financial Statements - continued for the Period 12 April 2023 to 30 April 2024
2. ACCOUNTING POLICIES - continued
Fund accounting
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 notes to the financial statements.
3. DONATIONS AND LEGACIES
4.
5.
6.
| DONATIONS AND LEGACIES | |
|---|---|
| £ | |
| Donations | 9,608 |
| OTHER TRADING ACTIVITIES | |
| £ | |
| Fundraising events | 500 |
| INVESTMENT INCOME | |
| £ | |
| Deposit account interest | 280 |
| OTHER INCOME | |
| £ | |
| Transfer from Parish Council | 375,000 |
Bromham Parish Council transferred £375,000 to the charity. This comprised £300,000 insurance monies and £75,000 fundraising monies.
7. CHARITABLE ACTIVITIES COSTS
8.
| Direct Support Costs (see costs (see note 8) note 9) £ £ Community hub 27,652 8,112 DIRECT COSTS OF CHARITABLE ACTIVITIES Insurance Sundries Architect and other consulting fees |
Totals £ 35,764 |
|---|---|
| £ 96 274 27,282 |
|
| 27,652 |
9. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Governance | |
| costs | |
| £ | |
| Community hub | 8,112 |
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continued...
Bromham Community Hub
Notes to the Financial Statements - continued for the Period 12 April 2023 to 30 April 2024
9. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
| Support costs, included in the above, are as follows: | |
|---|---|
| Community | |
| hub | |
| £ | |
| Legal fees | 3,744 |
| Accountancy and Independent examination | 4,368 |
| 8,112 |
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 30 April 2024.
Trustees' expenses
There were no trustees' expenses paid for the period ended 30 April 2024.
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accrued expenses |
£ 9,110 4,944 |
|---|---|
| 14,054 |
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted fund £ Current assets - Current liabilities - - 13. MOVEMENT IN FUNDS Restricted funds Construction of the Community Hub TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Restricted funds Construction of the Community Hub 385,388 TOTAL FUNDS 385,388 |
Restricted Total fund funds £ £ 363,678 363,678 (14,054) (14,054) 349,624 349,624 Net movement At in funds 30.4.24 £ £ 349,624 349,624 349,624 349,624 Resources Movement expended in funds £ £ (35,764) 349,624 (35,764) 349,624 |
Total funds £ 363,678 (14,054) |
|---|---|---|
| 349,624 | ||
| At 30.4.24 £ 349,624 |
||
| 349,624 | ||
| 349,624 |
Construction of the Community Hub - Funding for the construction of the new Bromham Community Hub
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continued...
Bromham Community Hub
Notes to the Financial Statements - continued for the Period 12 April 2023 to 30 April 2024
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 30 April 2024.
15. CONTINGENT ASSET
The charity has been awarded £300,000 from the Government Community Ownership fund which is payable at 80% of eligible expenditure. The income from this fund will be recognised as the spend is incurred and the value of the grant can be reliably calculated.
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