Charity registration number:
211018
## **Portreath Improvements Committee**
Annual Report and Financial Statements for the Year Ended 31st October 2022
Celtic Bookkeeping and Accountancy Services Ltd Suite 8 Tower House New Portreath Road Redruth TR16 4QL
## **Portreath Improvements Committee**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2-3|
|Statement of Trustees' Responsibilities|4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8-15|
## **Portreath Improvements Committee**
## **Reference and Administrative Details**
**Trustees** Cath Dennis Mel Southerden Shirley Nash Graham Waters Ian Stewart Colin Higgs Pat Kessell Steve Davies Zoe Ford Colin Male Geoff Hodge Caroline Thomas Rick Kneebone Louise Mallas Joe Urban
|**Principal Office**|**Bankers**|
|---|---|
|3 Bassett Terrace|Unity Trust Bank|
|Penberthy Road|Nine Brindley place|
|Portreath|Birmingham|
|TR16 4LT|B1 2HB|
## **Charity Registration Number**
211018
## **Independent Examiner**
Leanda Daddow MICB
Celtic Bookkeeping and Accountancy Services Ltd
Suite 8 Tower House New Portreath Road Redruth TR16 4QL
## **Portreath Improvements Committee**
## **Trustees' Report**
The Trustees present their report along with the financial statements of the charity for the year ended 31/10/2022
The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the charity's constitution and applicable law.
Reference and Administrative information, set out on Page 1, forms part of this report.
## **GOVERNANCE**
Portreath Improvements Committee is a registered charity number 211018. It was founded on 1 August 1962 and is managed in accordance with the Trust Deed of that date.
The committee trustees during the period and at the date of this report (unless otherwise indicated) were: -
Cath Dennis President Mel Southerden Chair Shirley Nash Vice Chair Graham Waters Ian Stewart Colin Higgs Louise Mallas Pat Kessell Steve Davies Zoe Ford Secretary Joe Urban Colin Male Geoff Hodge Caroline Thomas Treasurer Rick Kneebone Louise Mallas Joe Urban
The Committee is entitled to appoint charity trustees if required, in accordance with the Trust Deed. There are 24 places on the Portreath Improvements Committee and our Annual General Meeting is held on the last Monday of January.
Residents of the village can, if there are places apply to be on the committee, in writing two weeks before the AGM by applying to the secretary and must be purposed and seconded by two village residents. If there are more applications than vacancies a vote will be held.
## **Portreath Improvements Committee**
## **Trustees' Report**
## **OBJECTIVES AND ACTIVITIES**
The objective of the charity is that its property shall be held and managed for the benefit of the inhabitants of the village of Portreath in the County of Cornwall. This objective is achieved by using the income generated to provide and maintain a village hall and playing fields, to protect and maintain the sea front, to provide and maintain public seats and shelters and to preserve and enhance the beauty of the village. Furthermore, in furtherance of the above, to give financial assistance to any other charitable bodies or organizations.
## **PUBLIC BENEFIT STATEMENT**
In planning our activities for the year the trustees have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission. The charity continually expends its income on maintaining its assets which are used for the benefit of all the inhabitants of Portreath and visitors to the area.
## **ACHIEVEMENTS AND PERFORMANCE**
Income is generated by the charity principally from monies received from Portreath Association Ltd in respect of the Car Park supplemented by income from letting the Institute and Millennium Halls, income is beginnning to return to pre-Covid levels. The money received from PAL goes towards the upkeep of the PIC assets. This year the PIC donated significant funds to match the village coffee morning for Ukraine DEC appeal, donated a defib to Portreath SLSC, Redruth Lions Easter Egg hunt and the improvement of community managed green spaces within the village.The village has benefited with multiple Hotch Potch performances, Jubilee Party celebrations and craft making for this event as well as the annually supplemented Christmas trees, Trembling Tram and carols around the Christmas tree all bringing the village together. The income received from the car park for the year was £50,000 and rental income of £10,910 and £1200 from Cornwall Council resulting in a total income of £62,110. (2021: £54,855). A total of £87,329 (2021: £110,465) was expended on upkeep and activities within the village of Portreath.
## **FINANCIAL REVIEW**
A deficit of £13688.78 (2021: deficit £55,610) has arisen on unrestricted funds this year. This is significantly less than in previous years due to less larger projects requiring funding after major maintenance work on the Millennium Hall was carried out in previous years. Many organized activities which have brought the village together and green spaces continually maintained for villager enjoyment. It is the intention of the charity to maintain unrestricted funds, which are the free reserves of the charity, at an amount not less than the equivalent of 3 months expenditure, as recommended by the Charity Commission
However, in addition, sufficient funds need to be retained to ensure the charity is able to finance necessary improvements and major repairs that may be required in respect of the car park, sea front, buildings and the village generally. The Trustees consider that the funds currently retained are sufficient for this purpose.
The attached annual accounts comply with current statutory requirements, the charity's governing document and the Statement of Recommended Practice (Charities SORP (FRS 102)).
The annual report was approved by the trustees of the charity on 28/08/2023
and signed on its behalf by: Caroline Thomas
Caroline Thomas (Aug 30, 2023 10:08 GMT+1){{sig1_es_:signer1:signature:dimension(width=80mm, height=15mm)}} ~~...............~~ ..........................
Caroline Thomas
Trustee
## **Portreath Improvements Committee**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the trustees of the charity on 28th August 2023 and signed on its behalf by:
## Caroline Thomas
Caroline Thomas (Aug 30, 2023 10:08 GMT+1){{sig2_es_:signer1:signature:dimension(width=80mm, height=15mm)}}......................................... Caroline Thomas Trustee
## **Portreath Improvements Committee**
## **Independent Examiner's Report to the trustees of Portreath Improvements Committee**
I report on the accounts of the charity for the year ended 31 October 2022 which are set out on pages 6 to 15. Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015
## **Respective responsibilities of trustees and examiner**
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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•
•
•
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- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity
- Commission under section 145(5)(b) of the 2011 Act; and
- to state whether any particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the 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 you as 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 next statement.
## **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:
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•
•
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- to keep accounting records in accordance with section 130 of the Charities Act 2011; and
- to prepare accounts which according with the accounting records and comply with the accounting requirements of the 2011 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.
...................................... Leanda Daddow Celtic Bookkeeping and Accountancy Services Ltd Suite 8 Tower House New Portreath Road Redruth
TR16 4QL
## **Portreath Improvements Committee**
## **Statement of Financial Activities for the Year Ended 31st October 2022**
|**Note**|**Unrestricted Funds**
**Restricted Funds**
**Total 2022**
**Total 2021**|
|---|---|
|**_Income and Endowments from:_**||
|Donations and legacies
2
Charitable Activities
3
Other Trading Income
4
Investment Income
5|(£
1,200.00)
(£
- )
(£
1,200.00)
(£
- )
(£
60,910.00)
(£
- )
(£
60,910.00)
(£
54,855.00)
(£
- )
(£
- )
(£
- )
(£
- )
(£
- )
(£
- )
(£
- )
(£
- )|
|Total Income|(£
62,110.00)
(£
- )
(£
62,110.00)
(£
54,855.00)|
|||
|**_Expenditure on:_**||
|Charitable Activities
6|(£
86,064.60)
(£
- )
(£
86,064.60)
(£
(130,365.00)|
|Fixed Assets
11|(£
- )
(£
- )
(£
- )
(£
- )|
|||
|Total Expenditure|(£
86,064.60)
(£
- )
(£
86,064.60)
(£
(130,365.00)|
|Net Movement in Funds|(£
(23,954.60)
(£
- )
(£
(23,954.60)
(£
(75,510.00)|
|**Reconciliation of Funds**||
|Total funds brought forward
Total funds carried forward
14|(£
439,287.00)
(£
- )
(£
- )
(£
514,797.00)|
||(£
415,332.40)
(£
- )
(£
- )
(£
439,287.00)|
All the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for year ending 31st October 2023 is shown in note 14.
## **Portreath Improvements Committee**
## **Balance Sheet as at 31st october 2022**
## **Registration number 211018**
|**Note**
**Total 2022**
**Total 2021**|**Note**
**Total 2022**
**Total 2021**|
|---|---|
|**_Fixed Assets_**||
|Tangible Assets
11
(£
265,831.00)
(£
309,927.00)
Shelter installation at allotment
(£
- )
(£
- )||
|Final work at MAGU
(£
- )
(£
- )
Total Fixed Assets
(£
265,831.00)
(£
309,927.00)||
|Total Fixed Assets
(£
265,831.00)
(£
309,927.00)||
|||
|**_Current Assets_**||
|Debtors
**12**
(£
8,171.28)
(£
7,226.00)||
|Accrued Income
(£
- )
(£
- )
Cash in bank and in hand
(£
113,748.23)
(£
123,397.00)||
|Total Current Assets
(£
121,919.51)
(£
130,623.00)||
|||
|**_Creditors_**||
|Amounts falling due within one
year
**13**
(£
4,778.37)
(£
1,263.00)||
|**Net Current Assets**
(£
117,141.14)
(£
129,360.00)||
|||
|**Net Assets**
(£
382,972.14)
(£
439,287.00)||
|||
|**_Funds of the charity_**||
|Unrestricted Funds
(£
382,972.14)
(£
439,287.00)||
|Total Funds
14
(£
382,972.14)
(£
439,287.00)||
## **Note**
The financial statements on pages 6 to 15 were approved by the trustees, and authorized for issue on 27/08/2023 and signed on their behalf by:
## Caroline Thomas
Caroline Thomas (Aug 30, 2023 10:08 GMT+1)
... ~~................~~ ......................
Caroline Thomas
Trustee
## **Portreath Improvements Committee**
## **Notes to the Financial Statements for the Year Ended 31st October 2022**
## **Charitable activities**
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
## **Irrecoverable VAT**
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
## **Tangible fixed assets**
Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortization**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
## **Asset class Depreciation method and rate**
Fixtures and fittings 20% & 50% reducing balance Land and Buildings Not depreciated due to having a residual value more than the carrying value.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustee’s discretion in furtherance of the objectives of the charity. Restricted funds are grants and funds allocated to specified expenditure.
## **Financial instruments**
## _**Classification**_
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instrument
## _**Recognition and measurement**_
Basic financial assets and liabilities are initially measured at transaction price (including transaction costs) and subsequently measured at their settlement value.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognized amounts and the Charity intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.
Financial assets are derecognized when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognized only when the obligation specified in the contract is discharged, cancelled or expires.
## **Portreath Improvements Committee**
## **Notes to the Financial Statements for the Year Ended 31st October 2022**
## **2. Income from donations and legacies**
||**Unrestricted**|**Funds**|||||||
|---|---|---|---|---|---|---|---|---|
||**General**||**Restricted Funds**||**Total 2022**||**Total 2021**||
|Donations and legacies|(£|- )|(£|- )|(£|- )|(£|- )|
|Grant from Cornwall Council|(£|1,200.00)|(£|- )|(£|1,200.00)|(£|- )|
|Grant from Any 2021 projects|(£|- )|(£|- )|(£|- )|(£|- )|
||(£|1,200.00)|(£|- )|(£|1,200.00)|(£|- )|
## **3. Income from charitable activities**
||**Unrestricted Funds**|**Unrestricted Funds**|||||||
|---|---|---|---|---|---|---|---|---|
||**General**||**Restricted Funds**||**Total 2022**||**Total 2021**||
|Hire of Halls|(£|10,910.00)|(£|- )|(£|10,910.00)|(£|4,855.00)|
|Monies received from: Portreath|||||||||
|Association Limited|(£|50,000.00)|(£|- )|(£|50,000.00)|(£|50,000.00)|
||(£|60,910.00)|(£|- )|(£|60,910.00)|(£|54,855.00)|
## **4. Income from other trading activities**
||**Unrestricted**|**Funds**|||||||
|---|---|---|---|---|---|---|---|---|
||**General**||**Restricted Funds**||**Total 2022**||**Total 2021**||
|Other income from other trading|||||||||
|activities|(£|- )|(£|- )|(£|- )|(£|- )|
||(£|- )|(£|- )|(£|- )|(£|- )|
## **5. Investment income**
No investment income 2021 or 2022.
## **6 Expenditure on charitable activities**
||**Activity**|**Undertaken**|**Activity**|**Support**|||||
|---|---|---|---|---|---|---|---|---|
||**directly**||**Costs**||**Total 2022**||**Total**|**2021**|
|Car Park|(£|572.50)|(£|4,062.90)|(£|4,635.40)|(£|409.00)|
|Jubilee Hall|(£|3,476.07)|(£|- )|(£|3,476.07)|(£|4,404.00)|
|Millennium Hall|(£|18,914.15)|(£|2,480.78)|(£|21,394.93)|(£|59,031.00)|
|Village Upkeep|(£|13,684.79)|(£|2,369.00)|(£|16,053.79)|(£|30,533.00)|
|Governance|(£|18,513.51)|(£|11,697.08)|(£|30,210.59)|(£|18,031.00)|
|MAGU|(£|- )|(£|11,559.00)|(£|11,559.00)|(£|17,957.00)|
||(£|55,161.02)|(£|32,168.76)|(£|87,329.78)|(£|130,365.00)|
£87329.78 (2021 - £130,635) of the above expenditure was attributable to unrestricted funds.
## **Portreath Improvements Committee**
## **Notes to the Financial Statements for the Year Ended 31st October 2022**
||||||**Millennium**|**Millennium**||**Village**|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||**Car Park**|**Jubilee Hall**|||**Hall**||**Upkeep**||**MAGU**|**Governance**|||**Total**|
|**_Direct Costs_**|||||||||||||||
|Establishment costs|(£|572.50)|(£|3,476.07)|(£|2,861.67)|(£|3,554.50)|(£|- )|(£|341.77)|(£|10,806.51)|
|Repairs and Maintenance|||(£|- )|(£|16,052.48)|(£|10,130.29)|(£|- )|(£|322.00)|(£|26,504.77)|
|Printing, postage and|||||||||||||||
|stationery|(£|- )|(£|- )|||(£|- )|(£|- )|(£|240.00)|(£|240.00)|
|Subscriptions and donations|(£|- )|(£|- )|||(£|1,580.00)|(£|- )|(£|18,410.16)|(£|19,990.16)|
|Sundry and other costs|(£|- )|(£|- )|(£|- )|||(£|- )|||(£|- )|
|Legal and professional costs|(£|4,015.90)|(£|- )|(£|2,167.78)|||(£|- )|(£|9,663.66)|(£|15,847.34)|
||(£|4,588.40)|(£|3,476.07)|(£|21,081.93)|(£|15,264.79)|(£|- )|(£|28,977.59)|(£|73,388.78)|
|**_Support Costs_**|||||||||||||||
|Depreciation of tangible assets|(£|47.00)|(£|- )|(£|313.00)|(£|789.00)|(£|11,559.00)|(£|33.00)|(£|12,741.00)|
|Accountancy fees|(£|- )|(£|- )|(£|- )|(£|- )|(£|- )|(£|1,200.00)|(£|1,200.00)|
||(£|47.00)|(£|- )|(£|313.00)|(£|789.00)|(£|11,559.00)|(£|1,233.00)|(£|13,941.00)|
## **7. Analysis of governance and support costs**
## **Basis of allocation**
## **Reference**
Depreciation of tangible fixed assets Accountancy fees
## **Method of allocation**
## Usage
All costs go to Governance
|**Governance costs**|||||||
|---|---|---|---|---|---|---|
||**Unrestricted**|**funds General**||**Total 2022**||**Total 2021**|
|Independent Examiner Fees|(£|360.00)|(£|360.00)|(£|360.00)|
|Examination of the financial statements|(£|840.00)|(£|840.00)|(£|840.00)|
|Other fees paid to Examiners|(£|- )|(£|- )|(£|14,188.00)|
|Legal & Professional Fees|(£|9,663.66)|(£|9,663.66)|(£|2,659.00)|
|Other Governance Costs|(£|19,346.93)|(£|19,346.93)|(£|11,655.00)|
## **Portreath Improvements Committee**
## **Notes to the Financial Statements for the Year Ended 31st October 2022**
## **8. Net incoming/outgoing resources**
|**8. Net incoming/outgoing resources**|||||
|---|---|---|---|---|
|||**2022**||**2021**|
|Net incoming resources for the year include:|||||
|Depreciation of Fixed Assets|(£|12,741.00)|(£|19,900.00)|
## **9. Trustees remuneration and expenses**
During the year the charity made expense repayments to the following trustees, for events and materials. C Male – £31.07
Z Ford –£30.00 I Stewart - £204.08 S Davies - £176.11
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any other benefits from the charity during the year.
## **10 Independent examiner's remuneration**
|**10 Independent examiner's remuneration**|||||
|---|---|---|---|---|
|||**2022**||**2021**|
|Examination of Financial Statements|(£|360.00)|(£|360.00)|
|**Other fees to examiners**|||||
|All other services|(£|840.00)|(£|840.00)|
||(£|1,200.00)|(£|1,200.00)|
## **11 Tangible fixed assets**
|**11 Tangible fixed assets**||||||||
|---|---|---|---|---|---|---|---|
|||**Land and**|**Furniture and**|||||
|||**buildings**||**equipment**||**Total**||
|**_Cost_**||||||||
|At 1 November 2021|(£|214,830.00)|(£|95,097.00)|(£|309,897.00)||
|Additions|(£|- )|(£|- )|(£|- )||
|At 31 October 2022|(£|214,830.00)|(£|95,097.00)|(£|309,897.00)||
|**_Depreciation_**||||||||
|At 1 November 2021|(£|- )|(£|44,096.00)|(£|44,096.00)||
|Charge for the year|(£|- )|(£|12,741.00)|(£|- )||
|**At 31 October 2022**|**(£**|**- )**|**(£**|**44,096.00)**|**(£**|**44,096.00)**||
|**_Net book value_**||||||||
|At 31 October 2022|(£|214,830.00)|(£|51,001.00)|(£|265,831.00)||
## **Portreath Improvements Committee**
## **Notes to the Financial Statements for the Year Ended 44865**
## **12. Debtors**
|||**2022**||**2021**|
|---|---|---|---|---|
|Prepayments|(£|8,171.28)|(£|6,128.00)|
|Accrued income|(£|- )|(£|- )|
|Other debtors|**(£**|**- )**|(£|- )|
||(£|6,128.00)|(£|1,935.00)|
## **13. Creditors: amounts falling due within one year**
|**unts falling due within**|**one year**|||||
|---|---|---|---|---|---|
|||**2021**|||**2020**|
|Accruals|(£||87.45)|(£|1,263.00)|
## **14. Funds**
|**_Unrestricted Funds_**|||||||||
|---|---|---|---|---|---|---|---|---|
|||**Balance at 1**||||||**Balance at 31**|
|||**November 2021**|**Incoming**|**resources**|**Resources Expended**|||**October 2022**|
|General|(£|(439,827.00)|(£|(62,110.00)|(£|83,729.78)|(£|418,207.22)|
|**Restricted Funds**|(£|- )|(£|- )|(£|- )|(£|- )|
|**_Unrestricted Funds_**|||||||||
|||**Balance at 1**||||||**Balance at 31**|
|||**November 2020**|**Incoming**|**resources**|**Resources Expended**|||**October 201**|
|General|(£|(514,797.00)|(£|(54,855.00)|(£|129,825.00)|(£|439,827.00)|
## **15. Analysis of net assets between funds**
||**Unrestricted Funds**|**Unrestricted Funds**|||
|---|---|---|---|---|
|||**General**||**Total Funds**|
|Tangible Fixed Assets|(£|265,831.00)|(£|265,831.00)|
|Current Assets|(£|121,919.51)|(£|121,919.51)|
|Current Liabilities|(£|(4,778.37)|(£|(4,778.37)|
|Total net assets|(£|382,972.14)|(£|382,972.14)|
## **16. Related party transactions**
During the year the charity made the following related party transactions:
## **Portreath Association Limited**
(The Board of Directors of Portreath Association Limited comprises of five directors, three of whom are appointed by the charity).
Portreath Association Limited rents the car park from Portreath Improvements Committee. The charity received income of £50,000 (2021 - £55,000) in respect of its car park from Portreath Association Limited. At the balance sheet date the amount due from Portreath Association Limited was £NIL (2021 - NIL).