REGISTERED CHARITY NUMBER: 282839
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MARCH 2024
FOR
FISHERMEAD TRINITY CENTRE
FISHERMEAD TRINITY CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] MARCH 2024
| 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 2024
The trustees present their report with the financial statements of the charity for the year ended 31[st] March 2024. 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 has returned to the pre-pandemic utilisation levels. There has been a further rotation of staff during the financial year which has had an impact on the level of service the centre can offer.
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. The continued economic and financial pressures has meant families are still having to manage the increased energy prices and cost of living impacts. Given this backdrop the centre has become a hub partnering with groups that deliver warm spaces, after school projects, internet for those deprived of online access and a community larder.
E. FINANCIAL REVIEW
Policy on reserves
The cash at the bank is £23,620, which represents £23,752 general, unrestricted funds. The delayed Digital Deprivation grant application has delivered an overdrawn balance of £132 on the restricted funds. Although the Digital Deprivation is overdrawn there are balances on 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) of general fund expenditure (i.e. £7,736 based on 2023/24 activity), believing that this provides a prudent buffer against unforeseen expenditure. The funds currently held are equivalent to 55 weeks of expenditure. Although considerably higher than the policy target it will permit the smooth induction of a centre manager.
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 £4,182 (2023; £19,851 surplus) during the year.
The 2023/2024 Financial Year continued to deliver its activities with the support of a pool of volunteers although this pool has gone through a number of rotations. Unfortunately the volunteer who agreed to fulfil the manager role departed in the winter of 2023. This
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prompted the decision to split the manager role. It has been split between the booking administration work and the general management of the centre. The centre successfully appointed the booking administrator in the summer of 2024 but the general management is still being shared between a small team of volunteers.
The centre continues to be available to groups and the community for six days of the week. Christian worship is celebrated on Sundays. The centre was used as a warm space facility during the winter and spring of the financial year. The centre is also equipped to provide IT support to those in the community who are digitally deprived. The reduced staff costs have enabled the centre to continue to consolidate its reserves.
The trustees appreciate all the efforts of those who stepped in to continue to maintain the operation of the building.
ON BEHALF OF THE BOARD
Trustee: …………………………
D.J.Mahon 30[th] January 2025 Date: …………………………
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CHARITY COMMISSION FOR ENGLANO AND WALES Section A Independent Examiner's Report Report to the trusteesl members of Trinity Centre Trust On accounts for the year ended 3151 March 2024 Set outon pages 8-14 I report lo the trustees on my examination of the accounts of the above ¢haTity I'the Trust } for the year endéd 3110312024. Regpon91billtles and AS the Charity trustees, you are responsible for the preparation of the basis of report accounts in accordance with the Charities Act 2011 {"the Acf,) I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying oul my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515llb) of the Act. Independent IThe charity's gross income exeded £250,000 and l am qualified lo examiner's statement undertake the examination by being a qualified member of linsert name of applicable listed bodyll. Dèlète I l if not applicable. I have completed my examination. I confirm that no material mallers have come lo my attention I ') in conneclion with the examination which gives me cause lo believe that in. any material respect.. the accounting record8 were not kept in accordan with section 130 of the Act,. or the accounts did not accord with the accounting records,. 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 mallers 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. Please delete the words in the brackols if they do not apply. Signed: Name: Timothy May Relevant profe$$lonal qualifi¢ationlsl or body , M BA (if anyl-
Address:
7 Sandown Court
Bletchley
Milton Keynes, MK3 5LZ
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here details of any items that the examiner wishes to disclose .
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FISHERMEAD TRINITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31[st] MARCH 2024
| Notes Unrestricted Funds £ INCOMING RESOURCES Incoming Resources from Generated Funds Voluntary Income 30 Insurance Claim 0 Activities for Generating Funds 2 35,095 Total Incoming Resources 35,125 RESOURCES EXPENDED Governance Costs 279 Other Resources Expended 30,664 Total Resources Expended 30,943 NET INCOMING/(OUTGOING) RESOURCES BEFORE TRANSFERS 4,182 Transfers between Funds 0 Net Incoming/(Outgoing) Resources 4,182 RECONCILIATION OF FUNDS Total Funds Brought Forward 28,364 TOTAL FUNDS CARRIED FORWARD 8 32,546 |
Restricted Funds £ 1,030 0 0 1,030 0 1,203 1,203 ( 173) 0 ( 173) 975 802 |
2024 Total Funds £ 1,060 0 35,095 36,155 279 31,867 32,146 4,009 0 4,009 29,339 33,348 |
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 |
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FISHERMEAD TRINITY CENTRE
BALANCE SHEET
AT 31[st] MARCH 2024
| 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 £ 3,411 23,752 5,545 29,297 162 29,135 32,546 32,546 |
Restricted Funds £ - (132) 934 802 - 802 802 802 |
2024 Total Funds £ 3,411 23,620 6,479 30,099 162 29,937 33,348 33,348 32,546 802 33,348 |
2023 Total Funds £ 4,952 24,149 934 |
|---|---|---|---|---|
| 25,083 696 |
||||
| 24,387 | ||||
| 29,339 | ||||
| 29,339 | ||||
| 28,364 975 |
||||
| 29,339 |
The financial statements were presented to the Trustees 25[th] January 2025 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 2024
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 |
2024 £ 34,774 291 30 **35,095 ** |
2023 £ 28,161 41 2 28,204 |
|---|---|---|
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FISHERMEAD TRINITY CENTRE NOTES TO FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[st] MARCH 2024
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remunerations or other benefits for the year ended 31[st ] March 2024 nor for the year ended 31[st] March 2023.
Trustees' Expenses
There were no trustees' expenses paid for the year ended 31[st] March 2024 nor for the year ended 31[st] March 2023.
4. STAFF COSTS
| Wages and Salaries Work Place Pension Furlough Scheme Total Payroll |
2024 £ 8,182 0 0 . 8,182 |
2023 £ 3,214 0 0 . 3,214 |
|---|---|---|
5. TANGIBLE FIXED ASSETS
| Plant and Machinery |
Fixtures and Fittings |
Fixtures and Fittings |
Computer Equipment |
Computer Equipment |
Total | |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| COST | ||||||
| At 1stApril 2023 | 3,134 | 53,037 | 5,771 | 61,942 | ||
| Disposals in year | - | - | - | 0 | ||
| Additions | 0 | 0 | 225 | 225 | ||
| At 31stMh 2024 | 3134 | 53037 | 5996 | 62167 | ||
| arc | , | , | , | , | ||
| DEPRECIATION | ||||||
| At 1stApril 2023 | 1,244 | 52,576 | 3,170 | 56,990 | ||
| Disposals in year | - | - | - | 0 | ||
| Charge for Year | 624 | 209 | 933 | 1,766 | ||
| At 31stMh 2024 | 1868 | 52785 | 4103 | 58756 | ||
| arc | , | , | , | , | ||
| NET BOOK | ||||||
| VALUE | ||||||
| At 31stMarch 2024 | 1,266 | 252 | 1,893 | 3,411 | ||
| At 31stMh 2023 | 1890 | 461 | 2601 | 4952 | ||
| arc | , | , | , |
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[st] MARCH 2024
6. DEBTORS; AMOUNTS DUE AT FINANCIAL YEAR END
| 6. DEBTORS; AMOUNTS DUE AT FINANCIAL YEAR END | ||
|---|---|---|
| 2024 2024 General Restricted Fund Fund £ £ Hall Hire 5,545 0 Digital Deprivation Grant Application 0 934 - - 5,545 934 7. CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 £ £ Waste Collection 162 146 Insurance 550 162 696 |
2024 Restricted Fund £ 0 934 - |
2023 Total Funds £ 0 934 |
| ___ __ 934 |
8. MOVEMENT IN FUNDS
| Unrestricted General Fund Restricted Funds: Community Garden Internet Café Fishermead 50 Celebration Community Larder Total Funds |
Net At 1stApril Movement 2023 in Funds £ £ 28,364 4,182 225 0 0 0 250(203) 500 30 29,339 4,009 |
Transfers Between 31stMarch Funds 2024 £ £ - 32,546 - 225 - 0 - 47 - 530 - 33,348 |
|---|---|---|
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31[st] MARCH 2024
| 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 £ 0 30 0 34,774 291 30 35,125 200 79 0 279 1,005 2,985 919 4,909 8,182 1,856 563 8,375 666 1,002 111 1,075 1,484 23,314 258 417 209 933 624 1,766 30,943 4,182 |
Restricted Funds £ 1,000 30 - - - - 1,030 - - - 0 - - 167 167 - - - - - - 1,036 - - 1,036 - - - - - 0 1,203 ( 173) |
2024 Total £ 1,000 60 0 34,774 291 30 36,155 200 79 0 279 1,005 2,985 1,086 5,076 8,182 1,856 563 8,375 666 1,002 1,147 1,075 1,484 24,350 258 417 209 933 624 1,766 32,146 4,009 |
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 ** |
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31[st] MARCH 2024
| Restricted Funds Analysis INCOMING RESOURCES Voluntary Income Grants Donations Total Incoming Resources RESOURCES EXPENDED Other Resources Expended Repairs, Renewals and Maint Regeneration and Refurbishment Sundries Postage, Stationery and Advertising IT Costs Total Resources Expended Net Income/(Expenditure) |
2024 Community Garden £ 0 0 30 0 0 0 0 0 0 0 0 0 0 0 0 0 0 **30 ** |
2024 Internet Café £ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 |
2024 F'rmead 50 Celebration £ 1,000 0 0 0 1,000 0 0 167 0 1,036 0 0 0 0 0 1,203 ( 203) |
2024 Restricted Total £ 1,000 30 |
|---|---|---|---|---|
| 1,030 0 167 1,036 0 0 |
||||
| 1,203 | ||||
| ( 173) |
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