Charity registration number 213710
CAISTER COMMUNITY SUPPORT
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
CAISTER COMMUNITY SUPPORT
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr Brian Lawn |
|---|---|
| Mr Peter Moss | |
| Cllr. Donna Kay Hammond | |
| Rev. David Wells | |
| Mrs Rosemary Harrocks | |
| Mrs Ann Grace Lawn | |
| Mr Robert Coe | |
| Mr Brian Herring | |
| Charity number | 213710 |
| Principal address | 11 Chapman Avenue |
| Caister on Sea | |
| Great Yarmouth | |
| NR30 5HS | |
| Independent examiner | Sotos Christophi FCCA |
| Aston Shaw Limited | |
| Chartered Certified Accountants | |
| The Union Building, 51-59 Rose Lane | |
| Norwich | |
| Norfolk | |
| England | |
| NR1 1BY |
CAISTER COMMUNITY SUPPORT
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Statement of cash flows | 6 |
| Notes to the financial statements | 7 - 12 |
CAISTER COMMUNITY SUPPORT
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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
The relief of need within the Parish of Caister on Sea with West Caister.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Financial review
The increase in income is due to further receipts from the sale of the field to developers. The payment of the second instalment of £300,000 was made in May 2022. An agreed payment of £252,000 was made in lieu of overage payments of 2%, which would have been paid on the sale of each property.
The final payment of £300,000 is due to be made in May 2023.
Investment policy
The Trustees invest available funds to provide a source of income to cover applications for relief, without reducing their working capital.
£500,000 was placed on short term deposit with Lloyds Bank plc £60,000 was placed with stock brokers Barett & Cooke for investment in stocks and shares.
Structure, governance and management
The Trustees who served during the year and up to the date of signature of the financial statements were: Mr Brian Lawn
Mr Peter Moss Cllr. Donna Kay Hammond Rev. David Wells Mrs Rosemary Harrocks Mrs Ann Grace Lawn Mr Robert Coe Mr Brian Herring
Political and Charitable Donations
No political or financial donations have been made during the last financial period.
Policy on the inclusion of all people
The charity has a policy of engaging with all people, with no regard to their gender, ethnic background, colour, physical or mental ability and age.
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CAISTER COMMUNITY SUPPORT TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Th8 Trustees report was approved by the Board IrfTwstees. Mr Michael Doy Secretary Mr Pan La Chatr Oate-.
CAISTER COMMUNITY SUPPORT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CAISTER COMMUNITY SUPPORT I report to the Trustees on my examination of the finar1&1 statements of Caister Community Supwrt (the charity) f()r Ihe year ended 31 March 2023. Rèsponsibilities and basis of report As the Trustees ol the charity you are respon&ble for the prepardlion of the financial statements in aCrdanCe wth Ihe requirements of the Charits"es Act 2011 Ilhe 2011 Act}. I rÈport in respect of rny examination ol the charity's financial statements C2rried out under section 145 of the 2011 Act. In carrying o(Jt my exarnination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Ad. Independent examlnerfs statement Since Ihe charity's gross incorne exceeded £250.000 YOUT examiner must be a member of a tx)dy listed in section 145 of the 2011 Acl. I confirm that l qualffied to undertake the examination because l am a member of the Association ol charte Certtffied A¢cA)unlants. which is of the listed bodies. Your atienlion is drawn lo the lact that the tharity has ptepared nanual stalements in accordance with AccoLJnting and Reporting by Charities prèparing thr accounts in accordance with the Financial Reporting Standard applicabl8 in the UK and Republi¢ of Ireland IFRS 1021 in preference to the Accounbng and Reporting by Charities.. Statement ol Recommended Piactice issued on 1 April 2CK)5 whith is refer to in the extant regulations but has now been thdravm. l understand that Ihrs has been done in order for frnanaal statements to provide a true and fair view in accordan wittt Generally Accepted Accounbng PCtICe effective for repotbng periods beginning on or after 1 January 2015. I havé c()mpleted rny examination. I cx)nfim Ihal no matters have oyne to my attention in cA)nneclion with the examination giving me cause to believe that in any material respect.. accounts.ng record5 were not kept in Tespect of the thanty as required by section 130 of the 2011 Act.. or the financial statements do noi accord with those records.. or the financial staternents do not comply wth the applicable requiTements conceming the form and conlenl ol accounts set out in the Charities IAccounts ènd Reports} Regulations 2008 other than any requiremellt that the accounts giv8 a true and fair wew which is not a matter consKlefed as part ol an independent exarninabon. I havè no concerns and have wme atxoss no other malters in o)nnec*on Ihe examinats'on lo which attention should be drawn in this Teport in order to enable a proper undwstsnding of the finanryal statements to be reached. Sotos Christophi FCCA Aston Shaw Limited Chartered Certified Accountants The Union Building, 51-59 Rosè Lane NOn1¢h Norfolk NR1 1BY England Dated..
CAISTER COMMUNITY SUPPORT
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations and legacies | 3 | - | 65 |
| Charitable activities | 4 | 552,000 | 398,355 |
| Investments | 5 | (1,328) | 156 |
| Other income | 6 | 1 | - |
| Total income | 550,673 | 398,576 | |
| Expenditure on: | |||
| Raising funds | 7 | - | 219,525 |
| Charitable activities | 8 | 6,350 | 4,014 |
| Total expenditure | 6,350 | 223,539 | |
| Net income and movement in funds | 544,323 | 175,037 | |
| Reconciliation of funds: | |||
| Fund balances at 1 April 2022 | 195,856 | 20,819 | |
| Fund balances at 31 March 2023 | 740,179 | 195,856 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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CAISTER COMMUNITY SUPPORT BALANCE SHEEr ASAT31 MARCH 2023 2023 2022 Notes Fixed assèts Inveslments 12 5&534 Current a&8ets D8blors Cash at bank and in hand 13 683,205 195,791 683.205 195.856 Credltors.. amounts falllng due withln one year 14 (1.560) Nel current assets 681.645 195.856 Total a55ets less current Ilabllltles 740.179 195.B58 Net assets oxcludtng pen51on Ilablllty 740.179 195.856 The funds of the chaiity Unrestricled funds 740.179 195,856 740.179 195.856 &13125 The fin8nd81 statements were 8pprc)ved by Ihe Tru31ees on ......................... Mr Bri8n Lawn Chair
CAISTER COMMUNITY SUPPORT
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023
| Notes Cash flows from operating activities Cash generated from operations 17 Investing activities Purchase of investments Investment income received Net cash (used in)/generated from investing activities Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2023 £ (58,534) (1,328) |
£ 547,276 (59,862) - 487,414 195,791 683,205 |
2022 £ - 156 |
£ 174,816 156 - |
|---|---|---|---|---|
| 174,972 20,819 |
||||
| 195,791 |
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CAISTER COMMUNITY SUPPORT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Charity information
Caister Community Support is an unincorporated charity.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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CAISTER COMMUNITY SUPPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations and gifts | - | 65 |
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CAISTER COMMUNITY SUPPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
4 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Field Sale | 552,000 | 400,000 |
| Reduction of Sales Value Insurance | - | (1,645) |
| 552,000 | 398,355 |
5 Income from investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Dividends received | 10 | - | |
| Revaluation of Investments | (1,338) | - | |
| Interest receivable | - | 156 | |
| (1,328) | 156 | ||
| 6 | Other income | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other income | 1 | - | |
| 7 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Legal Fees | - | 10,000 | |
| Agents Fees | - | 209,250 | |
| Survey Work | - | 275 | |
| - | 219,525 |
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CAISTER COMMUNITY SUPPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
8 Expenditure on charitable activities
| Direct costs Distributions Assistance Grants Secretary's Fees Office Expenses Bank charges Insurance Accountant's Fees Computer expenses Donations Stock Exchange Licenses Analysis by fund Unrestricted funds |
2023 £ 2,461 830 300 30 36 440 1,560 55 500 138 6,350 6,350 |
2022 £ 720 722 300 240 102 450 1,480 - - - |
|---|---|---|
| 4,014 | ||
| 4,014 |
9 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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CAISTER COMMUNITY SUPPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
12 Fixed asset investments
| Cost or valuation At 1 April 2022 Additions Valuation changes At 31 March 2023 Carrying amount At 31 March 2023 At 31 March 2022 13 Debtors Amounts falling due within one year: Other debtors 14 Creditors: amounts falling due within one year Accruals and deferred income |
Barratt & Cooke Investments £ - 60,000 (1,466) 58,534 58,534 - 2023 2022 £ £ - 65 2023 2022 £ £ 1,560 - |
|---|---|
15 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 April | Incoming | Resources | At 31 March | |
|---|---|---|---|---|
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 195,856 | 550,673 | (6,350) | 740,179 |
| Previous year: | At 1 April | Incoming | Resources | At 31 March |
| 2021 | resources | expended | 2022 | |
| £ | £ | £ | £ | |
| General funds | 20,819 | 398,576 | (223,539) | 195,856 |
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CAISTER COMMUNITY SUPPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
16 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
| 17 Cash generated from operations Surplus for the year Adjustments for: Investment income recognised in statement of financial activities Movements in working capital: Decrease/(increase) in debtors Increase in creditors Cash generated from operations |
2023 £ 544,323 1,328 65 1,560 547,276 |
2022 £ 175,037 (156) (65) - 174,816 |
|---|---|---|
18 Analysis of changes in net funds
The charity had no material debt during the year.
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