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2023-03-31-accounts

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Registered Charity No. 276225

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2023

Page
General Information 1
Report of the Trustees 2 - 3
Report of the Independent Examiners 4
Statements of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 - 11

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

GENERAL INFORMATION for the year ended 31 March 2023

ADDRESS: Manor Road
Horsham St Faith
Norwich
Norfolk
NR10 3LF
TRUSTEES: Mrs J Fisher Chair Appointed 21/06/2023
Mr D Matkin Vice Chair Appointed 12/04/2023
Mrs C Quinton
Mr D Rivers
SECRETARY: Mrs C Clayson Resigned 01/03/2023
Mrs L Matkin Appointed 12/04/2023
MANAGEMENT
COMMITTEE: Mr M Wilson Treasurer
Mr N Howe
Mr P Chapman
Mr D Fisher
Mr R Patton
Ms L Thompson
Mr M McMillan
Mrs D Matthewson Membership Secretary Resigned 03/07/2023
Mr B Ridgeway Resigned 07/06/2023
Mr J Matthewson Resigned 03/07/2023
Mr K Rodgers Resigned 05/07/23
BANKERS: Lloyds Bank Plc
16 Gentlemans Walk
Norwich
Norfolk
NR2 1LZ
INDEPENDENT
EXAMINER: A Orves FCCA FCA
Sexty & Co
Chartered Certified Accountants
2a Church Street
North Walsham
Norfolk
NR28 9DA

1

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

TRUSTEES’ REPORT for the year ended 31 March 2023

History

In 1978, a Committee was formed to raise funds for a Village Hall. Foresight, vision and money raised by a variety of events resulted in St Faiths Community Centre, phase 1 of which opened in December 1985 following the purchase of the land by the parish council. This included the construction of a sports hall. Fund raising continued and phase 2, including a bar and function room, opened in March 1991 followed by phase 3, including a snooker room, swimming pool, band room and gymnasium, in April 2000.

Governing document

The charity is governed by a trust deed dated 28[th] June 1978 amended 2[nd] April 2008 and 8[th] April 2013.

Objectives and Activities of the Trust

The objectives and activities of the Trust are to provide a Community Centre for the inhabitants of the parishes of Horsham St Faith and Newton St Faith. The centre provides a host of sports facilities and entertainment all year round. Rooms are available for hiring for functions and parties.

Achievements and Performance

We are gradually returning to normality after covid with the bar back to opening 7 evenings a week. We now have a new bar manager who is working really hard to generate more revenue for the club.

We have revamped the swimming pool and the tennis courts and are now using an online booking system which is working extremely well. We are working really hard to encourage people to use these facilities and they have both generated many more members which is great news for the club. There are also basketball nets available to be used free of charge which have been well received.

We are still being hit hard by energy prices but hopefully these will gradually decrease and with more users of the club we are hopeful going forward.

We have generously been offered a new website paid for by Ivan Fisher Funeral Homes and the work on this is now taking place to enable us to move forward in a positive way.

With a fairly new committee we are still feeling our way, but going forward we are feeling really positive and are doing all we can to support this wonderful facility.

Review of the activities and results

The statement of financial activities for the year is set out on page 5. The total incoming resources amounted to £46,600 (2022 £53,832) including a donation from the Social Club of £Nil (2022 £Nil). After deducting the total resources expended of £63,040 (2022 £56,765) there were net outgoing resources of £16,440 (2022 £2,933 net outgoing resources). The net outgoing resources have been deducted from the total funds to leave a balance at 31 March 2023 of £253,245 (2022 £269,685).

Governance and internal control

Charity law requires the trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the trustees are required to:

2

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

TRUSTEES’ REPORT (continued) for the year ended 31 March 2023

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They 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 trustees who served during the year and up to the date of this report are set out on page 1. The trustees are fully responsible for decision making and meet regularly.

Appointment of trustees

New trustees are appointed by existing trustees as and when the need arises. The management committee decides when there is a need for a new trustee to be appointed.

Public benefit statement

The trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit, ‘Charities and Public Benefit’.

Risk management

The charity monitors its risk on an ongoing basis and has ensured that both policies and funding to mitigate those risks will be met during the financial year 2023/24.

Internal risks are minimized by the implementation of authorisation and checking procedures covering all transactions undertaken and monitoring procedures to ensure consistent and quality delivery of the services provided by the centre. The trustees regularly review these procedures to ensure that they meet the needs of the charity.

Reserves policy

The trustees have set a reserves policy which requires that general reserves should be maintained at such a level as to ensure that the organisation’s core activities can be maintained over a period of at least six months.

Independent Examiner

A resolution regarding the re-appointment of A Orves FCCA FCA as Independent Examiner will be put to the forthcoming Annual General Meeting.

This report was approved by the Board on 25 September 2023.

Mrs J Fisher – Chairperson

3

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

INDEPENDENT EXAMINER’S REPORT

for the year ended 31 March 2023

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2023 which are set out on pages 5 to 11.

Responsibilities and basis of report

As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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.

A Orves FCCA FCA Sexty & Co Chartered Certified Accountants 2a Church Street North Walsham Norfolk NR28 9DA

Date: 25 September 2023

4

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2023

Notes
INCOMING RESOURCES
Incoming resources from
charitable activities:
Operation of Community
Centre
3
Incoming resources from
Generated Funds:
Fundraising activities
Other income
4
5
Total incoming resources
RESOURCES EXPENDED
Charitable activities:
Operation of Community
Centre
Cost of generating funds:
Fundraising activities
6
6
Total resources expended
Net (outgoing)/incoming
resources
Fund balances at 31 March 2022
Funds balance at 31 March 2023		 Unrestricted
Funds
£
34,164
10,538
1,898
46,600
60,144
2,896
63,040
(16,440)
17,431
991		 Restricted
Funds
£
-
-
-
-
-
-
-
-
252,254
252,254		 Total
2023
£
34,164
10,538
1,898
46,600
60,144
2,896
63,040
(16,440)
269,685
253,245		 Total
2022
£
32,326
9,764
11,742
53,832
53,758
3,007
56,765
(2,933)
272,618
269,685

The notes on pages 7 to 11 form part of these financial statements.

5

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

BALANCE SHEET 31 March 2023

Fixed Assets
Notes
Tangible assets
7
Current Assets
Debtors
Cash at bank and in hand
8
Current Liabilities
Creditors: Amounts falling due within one year
9
Total Assets Less Current Liabilities
Represented by:
Unrestricted funds:
General
Designated
Restricted funds
10
10
10
Total Funds		 2023
2022
£
£
£
£
186,152
193,733
60,085
8,408
56,948
21,833
68,493
1,400
78,781
2,829
253,245
269,685
(7,946)
8,937
252,254
8,494
8,937
252,254
253,245
269,685		 2023
2022
£
£
£
£
186,152
193,733
60,085
8,408
56,948
21,833
68,493
1,400
78,781
2,829
253,245
269,685
(7,946)
8,937
252,254
8,494
8,937
252,254
253,245
269,685		 2023
2022
£
£
£
£
186,152
193,733
60,085
8,408
56,948
21,833
68,493
1,400
78,781
2,829
253,245
269,685
(7,946)
8,937
252,254
8,494
8,937
252,254
253,245
269,685		 2023
2022
£
£
£
£
186,152
193,733
60,085
8,408
56,948
21,833
68,493
1,400
78,781
2,829
253,245
269,685
(7,946)
8,937
252,254
8,494
8,937
252,254
253,245
269,685
253,245 269,685
(7,946)
8,937
252,254		 8,494
8,937
252,254
253,245 269,685

The financial statements were approved and authorised for issue by the Board on 25 September 2023

Signed on behalf of the board of trustees

Mrs J Fisher – Chairperson

The notes on pages 7 to 11 form part of these financial statements.

6

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

NOTES TO THE ACCOUNTS for the year ended 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparation

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

Incoming resources

Income from activities in furtherance of the charity’s objects is included in the period in which the charity is entitled to receipt.

Investment income, grants and donations

These are included in the accounts when received.

Governance costs

Governance costs include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

Preparation of the accounts

The accounts have been prepared on an accruals basis.

Fund accounting

Funds held by the charity are either:

Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Designated funds – these are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.

Restricted funds – these are funds that can only be used for specific purposes as laid down by the donor. Expenditure which meets these criteria are charged to the fund.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings - 50 years straight line Property improvements - 10% straight line Fixtures and equipment - 20% on reducing balance

7

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

NOTES TO THE ACCOUNTS for the year ended 31 March 2023

2. TAXATION

The Trust is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.

3. INCOME RESOURCED FROM CHARITABLE ACTIVITIES

The income derived from the Operation of the Community Centre comprises:-

Membership fees
Sporting activities
Hall hire

 2023
£
8,543
7,194
18,427
34,164
 2022
£
9,936
9,504
12,886
32,326

4. INCOMING RESOURCES FROM GENERATED FUNDS

Tokens
Village journal
Sundry fundraising and receipts
HER INCOME
Hire of car park
Furlough grants		 2023
£
7,728
1,395
1,415
10,538
2023
£
1,200

698

1,898
 2022
£
6,349
2,474
941
9,764


2022
£
7,200
4,542
11,742

5. OTHER INCOME

8

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

NOTES TO THE ACCOUNTS for the year ended 31 March 2023

6. ANALYSIS OF CHARITABLE EXPENDITURE

The costs associated with the running of the Community Centre and its facilities were as follows:-

Wages
Repairs and maintenance
Repairs to property
Rates
Light and heat
Insurance and licences
Telephone
Post and stationery
Independent examination
Other financial services
Bookkeeping
Legal and professional fees
Sundry
Depreciation
The costs associated with fundraising were as follows:-
Fundraising
Village journal		 2023
£
11,770
13,464
2,547
2,668
10,123
4,455
359
394
1,200
1,594
3,600
-
389
7,581
60,144
2,896
2,896		 2022
£
15,130
9,651
703
1,640
6,193
4,377
25
173
1,200
1,696
3,600
370
879
8,121
53,758
3,007
3,007

9

THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

NOTES TO THE ACCOUNTS for the year ended 31 March 2023

7. TANGIBLE FIXED ASSETS

Cost
1 April 2022
Additions
31 March 2023
Depreciation
1 April 2022
Charge for the year
31 March 2023
Net book amount
31 March 2023
31 March 2022
8. DEBTORS
Amount due from St Faiths Centre Social Club
Other debtors
9. CREDITORS
Trade creditors
Social security and other tax
Accruals		 Land &
Buildings
£
270,734
-
270,734
87,815
5,417
93,232
177,502
182,919		 Fixtures &
Equipment
£
104,945
-
104,945
94,131
2,164
96,295
8,650
10,814
2023
£
59,872
213
60,085
2023
£
-
-
1,400
1,400		 Total
£
375,679
-
375,679
181,946
7,581
189,527
186,152
193,733
2022
£
56,948
-
56,948
2022
£
1,216
343
1,270
2,829		 Total
£
375,679
-
375,679
181,946
7,581
189,527
186,152
193,733
2022
£
56,948
-
56,948
2022
£
1,216
343
1,270
2,829
56,948
2022
£
1,216
343
1,270
2,829

10

10 THE ST FAITHS CENTRE TRUST (HORSHAM & NEWTON)

NOTES TO THE ACCOUNTS for the year ended 31 March 2023

10. MOVEMENT OF FUNDS

Unrestricted funds:
General funds
Designated funds
Restricted funds:
Capital funds
Multi Sport Surface fund		 At
01/04/22
£
8,494
8,937
250,000
2,254
269,685		 Incoming
Resources
£
46,600
-
-
-
46,600		 Outgoing
Resources
&
transfers
£
(63,040)
-
-
-
(63,040)		 At
31/03/23
£
(7,946)
8,937
250,000
2,254
253,245

11. TRUSTEE REMUNERATION & EXPENSES

The trustees neither received nor waived any emoluments or expenses during this year or the previous year.

12. AVERAGE NUMBER OF EMPLOYEES

The average number of staff employed was 15 (2022 - 15).

13. RELATED PARTY TRANSACTIONS

There were no related party transactions that require disclosure during this year or in the previous year.

14. CONTROL

The Charity is controlled by the Trustees in office.

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Current assets
Current liabilities
 General
Funds
£
(72,748)
66,202
(1,400)
(7,946)		 Designated
Funds
£
8,900
37
-
8,937		 Restricted
Funds
£
250,000
2,254
-
252,254		 Total
Funds
£
186,152
68,493
(1,400)
253,245

11