REGISTERED CHARITY NUMBER: 282839
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MARCH 2023
FOR
FISHERMEAD TRINITY CENTRE
FISHERMEAD TRINITY CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] MARCH 2023
| Page | |
|---|---|
| Report of the Trustees | 3 - 5 |
| Independent Examiner's Report | 6 - 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 - 12 |
| Detailed Statement of Financial Activities | 13 - 14 |
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FISHERMEAD TRINITY CENTRE REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31[st] MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31[st] March 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2011.
A. REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number:
282839
Principal Address
Fishermead Boulevard Fishermead Milton Keynes MK6 2LA
Trustees
M R Petchey D Kendrick D J Mahon[(appointed 21st July 2021)]
Independent Examiner
Timothy May 7 Sandown Court Bletchley Milton Keynes MK3 5LZ
B. STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Risk Management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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C. OBJECTIVES AND ACTIVITIES
The core objective of the charity is the operation of a Community Hall in Fishermead, Milton Keynes.
To provide facilities for recreation and leisure time for the inhabitants of Fishermead and its immediate neighbourhood, together with the advancement of the Christian religion by provision of facilities for the Church of England, the Methodist Church, the Baptist Church and the United Reformed Church.
Public benefit that is provided by the charity
The trustees confirm that they have given their due consideration to the Charity Commission guidance on the operation of the Public Benefit requirement.
D. ACHIEVEMENTS AND PERFORMANCE
The changed financial situation has further delayed the Community Asset Transfer process. Significant renovation and refurbishment plans remain on hold. The Centre is gradually returning to the pre-pandemic utilisation levels.
Most of the regular groups have returned to using the centre since the lifting of restrictions. The returning groups offer a range of activities covering various styles of martial arts, dance groups, professional training and counselling. The centre continues to welcome community and family events. There has been a marked economic decline meaning families having to manage increases in both energy prices and the cost of living. Given this backdrop the centre has become a hub partnering with groups to deliver warm spaces, after school projects and a community larder.
E. FINANCIAL REVIEW
Policy on reserves
The cash at the bank is £24,149, which represents £24,108 of general, unrestricted funds and a balance of £41 of restricted funds split between the Fishermead 50 Celebration, Community Garden and Community Larder.
Only the unrestricted general funds meets the Charity Commission’s definition of reserves. The trustees seek to maintain reserves at not less than thirteen weeks (three months) general fund expenditure (i.e. £6,292 based on 2022/23 activity), believing that this provides a prudent buffer against unforeseen expenditure. The funds currently held are equivalent to 41 weeks of expenditure.
Investment Policy
To invest the unused funds in secure interest bearing deposit accounts. To hold these in secure and ethical funds in accordance with the Trust Deeds.
Review
The General Fund net incoming/(outgoing) resources amounted to a surplus of £19,851 (2022; £6,588 deficit) during the year.
The centre became a victim of a break-in in February 2022. Several items were stolen but the main loss were the laptops gifted for the digital deprivation project. The insurance claim was concluded in April and the award included in the 2022/2023 accounts.
The 2022/2023 Financial Year was the full year, since the pandemic, that the centre did not need to impose restrictions on the use of the building. Following the manager resignation, in summer 2021, a small pool of volunteers took over the running of the Centre. This group continued their support throughout the 2022/2023 year. This enabled the centre to continue to be available to groups throughout the week covering the hours
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booked during the day. The saving of staff costs has enabled the centre to consolidate the reserves. The trustees appreciated all the efforts of those who stepped in to continue to maintain the operation of the building for the full financial year.
ON BEHALF OF THE BOARD
Trustee: …………………………
D.J.Mahon
25[th] January 2024
Date: …………………………
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CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examinefs Report Report to the trusteesl members of ',hBrity Tr*e Trinity Centre Trust On accounts for the year ended 31, March 2023 Charity no if anyl 282839 Set out on pages 8t014 IKern&inb£r :o IUde tbe page numbers 0.. 3ddiiional sheets) I report to the trustees on my examination of the accounts of the above ¢harily I'lhe Trust'} for the year ended 3110312023. Responsibilities and As the charity trustees, you are responsible for the preparation of the basis of report accounts in accordan with the Charities Act 2011 ("the ACV'I. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Corv,mission under section 14515llb) of the Act. Independent he charity's gross income exceeded £250,000 and l am qualified to exarniner's statement undertake the examination by being a qualified member of linsert name Df applicable listed bodyll Delete I l if not applicable. I have completed my examination. I confirm that no matenal matters have come to my attention I ') in connection with Ihe examination which gives me cause lo believe that In, any material respect.: the accounting records were not kept in accordance wffch section 130 of the Act.. 01 the accounts did not accord with the accounting reGords, or the accounts did not comply with the applicable requirements concerning the form and conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue 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 matlers in connertion with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Pleaso dolcle the words in the brackets if thoy do not apply. Signed: Date: Name.. Relevant professional qualification(s) or body lif any).. rJ.A. IER October 2018
Ilf any).. Address.. 7 Sandown Court Bletchley Milton Keynes, MK3 5LZ Section B Disclosure Only complete If the examiner needs lo highlight material mallers ol concem (see CC32, Independent examination of Gharily accounts." directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018
FISHERMEAD TRINITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31[st] MARCH 2023
| Notes Unrestricted Funds £ INCOMING RESOURCES Incoming Resources from Generated Funds Voluntary Income 2,789 Insurance Claim 14,027 Activities for Generating Funds 2 28,204 Total Incoming Resources 45,020 RESOURCES EXPENDED Governance Costs 960 Other Resources Expended 24,209 Total Resources Expended 25,169 NET INCOMING/(OUTGOING) RESOURCES BEFORE TRANSFERS 8 19,851 Transfers between Funds 0 Net Incoming/(Outgoing) Resources 19,851 RECONCILIATION OF FUNDS Total Funds Brought Forward 8,513 TOTAL FUNDS CARRIED FORWARD 28,364 |
Restricted Funds £ 2,810 0 0 2,810 0 2,896 2,896 ( 86) 0 ( 86) 1,061 975 |
2023 Total Funds £ 5,599 14,027 28,204 47,830 960 27,105 28,065 19,765 0 19,765 9,574 29,339 |
2022 Total Funds £ 4,712 0 22,691 |
|---|---|---|---|
| 27,403 274 32,983 |
|||
| 33,257 (5,854) 0 |
|||
| (5,854) 15,428 |
|||
| 9,574 |
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FISHERMEAD TRINITY CENTRE
BALANCE SHEET
AT 31[st] MARCH 2023
| Notes FIXED ASSETS Tangible Assets 5 CURRENT ASSETS Cash at Bank and in Hand Debtors 6 CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted Funds 8 Restricted Funds |
Unrestricted Funds £ 4,952 24,108 0 24,108 696 23,412 28,364 28,364 |
Restricted Funds £ - 41 934 975 - 975 975 975 |
2023 Total Funds £ 4,952 24,149 934 25,083 696 24,387 29,339 29,339 28,364 975 29,339 |
2022 Total Funds £ 478 5,986 3,780 |
|---|---|---|---|---|
| 9,766 670 |
||||
| 9,096 | ||||
| 9,574 | ||||
| 9,574 | ||||
| 8,513 1,061 |
||||
| 9,574 |
The financial statements were presented to the Trustees 25[th] January 2024 and were signed on their behalf by:-
Trustee………………………………..
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] MARCH 2023
1. ACCOUNTING POLICIES
Accounting Convention
The financial statements have been prepared under the historical cost convention and in accordance with the current Financial Reporting Standard. In preparing the financial statements the Trust follows best practice as set out in the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” effective January 2015.
Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources Expended
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.
Tangible Fixed Assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Equipment and Computing Equipment on a 33% reducing balance basis.
Fixtures and Fittings are estimated to have a five year life.
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 notes to the financial statements.
2. ACTIVITIES FOR GENERATING FUNDS
| Letting Income Bank Interest Office Income |
2023 £ 28,161 41 2 **28,204 ** |
2022 £ 22,690 1 0 22,691 |
|---|---|---|
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31[st] MARCH 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remunerations or other benefits for the year ended 31[st ] March 2023 nor for the year ended 31[st] March 2022.
Trustees' Expenses
There were no trustees' expenses paid for the year ended 31[st] March 2023 nor for the year ended 31[st] March 2022.
4. STAFF COSTS
| Wages and Salaries Work Place Pension Furlough Scheme Total Payroll |
2023 £ 3,214 0 0 . 3,214 |
2022 £ 11,229 843 (1,339) . 10,733 |
|---|---|---|
5. TANGIBLE FIXED ASSETS
| Plant and Machinery |
Fixtures and Fittings |
Fixtures and Fittings |
Computer Equipment |
Computer Equipment |
Total | |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| COST | ||||||
| At 1stApril 2022 | 322 | 52,621 | 1,978 | 54,921 | ||
| Disposals in year | - | - | - | 0 | ||
| Additions | 2,812 | 416 | 3,793 | 7,021 | ||
| At 31stMh 2023 | 3134 | 53037 | 5771 | 61942 | ||
| arc | , | , | , | , | ||
| DEPRECIATION | ||||||
| At 1stApril 2022 | 313 | 52,241 | 1,889 | 54,443 | ||
| Disposals in year | - | - | - | 0 | ||
| Charge for Year | 931 | 335 | 1,281 | 2,547 | ||
| At 31stMh 2023 | 1244 | 52576 | 3170 | 56990 | ||
| arc | , | , | , | , | ||
| NET BOOK | ||||||
| VALUE | ||||||
| At 31stMarch 2023 | 1,890 | 461 | 2,601 | 4,952 | ||
| At 31stMh 2022 | 9 | 380 | 89 | 478 | ||
| arc |
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[st] MARCH 2023
6. DEBTORS; AMOUNTS DUE AT FINANCIAL YEAR END
| 6. DEBTORS; AMOUNTS DUE AT FINANCIAL YEAR END | ||
|---|---|---|
| 2023 2023 General Restricted Fund Fund £ £ Hall Hire 0 0 Community Garden Grant application 0 934 - - 0 934 7. CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 £ £ Waste Collection 146 166 Insurance Premium 550 504 696 670 |
2023 Restricted Fund £ 0 934 - |
2022 Total Funds £ 1,420 2,360 |
| ___ __ 3,780 |
8. MOVEMENT IN FUNDS
| Unrestricted General Fund Restricted Funds: Community Larder Internet Café Fishermead 50 Celebration Community Garden Total Funds |
Net At 1stApril Movement 2022 in Funds £ £ 8,513 19,851 500 0 0 0 0 250 561 (336) 9,574 19,765 |
Transfers Between 31stMarch Funds 2023 £ £ - 28,364 - 500 - 0 - 250 - 225 - 29,339 |
|---|---|---|
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31[st] MARCH 2023
| INCOMING RESOURCES Voluntary Income Grants Donations Insurance Activities for Generating Funds Letting Income Bank Interest Office Income Total Incoming Resources RESOURCES EXPENDED Governance Costs Accountancy and Bookkeeping Legal and Professional Fees Insurance Claim Other Resources Expended Cleaning Repairs, Renewals and Maint Regeneration and Refurbishment Support Costs Management Wages Rates and Water Insurance Light and Heat Telephone/Broadband Postage, Stationery and Advertising Sundries Waste Disposal Premises Costs Finance Bank Charges Information Technology IT Costs Other Fixtures and Fittings Depreciation Computer Equipment Depreciation Plant and Equipment Depreciation Total Resources Expended Net Income/(Expenditure) |
Unrestricted Funds £ 2,400 389 14,027 28,161 41 2 45,020 0 72 888 960 1,045 5,332 0 6,377 3,214 1,485 550 5,225 619 889 197 1,051 1,341 14,571 288 426 335 1,281 931 2,547 25,169 19,851 |
Restricted Funds £ 2,810 - - - - - 2,810 - - - 0 - 80 599 679 - - - - - - 112 - - 112 - 2,105 - - - 0 2,896 ( 86) |
2023 Total £ 5,210 389 14,027 28,161 41 2 47,830 0 72 888 960 1,045 5,412 599 7,056 3,214 1,485 550 5,225 619 889 309 1,051 1,341 14,683 288 2,531 335 1,281 931 2,547 28,065 **19,765 ** |
2022 Total £ 4,160 552 0 22,690 1 0 |
|---|---|---|---|---|
| 27,403 100 72 0 |
||||
| 172 952 3,813 503 |
||||
| 5,268 10,733 2,112 504 5,374 3,605 581 115 1,106 1,241 |
||||
| 25,371 561 1,585 252 44 4 |
||||
| 300 33,257 |
||||
| (5,854) |
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31[st] MARCH 2023
| Restricted Funds Analysis INCOMING RESOURCES Voluntary Income Grants Donations Total Incoming Resources RESOURCES EXPENDED Other Resources Expended Repairs, Renewals and Maint Regeneration and Refurbishment Telephone/Broadband Postage, Stationery and Advertising IT Costs Total Resources Expended Net Income/(Expenditure) |
2023 Community Garden £ 0 0 0 0 0 80 0 165 0 91 0 0 0 0 0 336 0 ( 336) |
2023 Internet Café £ 2,560 0 0 0 2,560 0 0 434 0 21 0 0 0 2,105 0 2,560 0 |
2023 F'rmead 50 Celebration £ 250 0 0 0 250 0 0 0 0 0 0 0 0 0 0 0 250 |
2023 Restricted Total £ 2,810 0 |
|---|---|---|---|---|
| 2,810 80 599 112 0 2,105 |
||||
| 2,896 | ||||
| ( 86) |
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