CHARITY REGISTrATION NUMBER: 288092 Haverhill Community Trust Unaudited independently examined accounts 31 March 2024
Haverhill Community Trust Financial statements Year ended 31 March 2024 Pag• Trustee's annual rewt IndeperKlent examinovs rerK)rt10 th8 trustèe statement of financial actiuib8S BalawKe sheet Notes lo th& financial statements
Haverhill Community Trust Trustee's annual report Year ended 31 March 2024 The trustee presents his report and Ihe unauthled finan¢taE stslewils of the ¢harfty for the yw ended 31 March 2024. The finanoxal 3talements have Ln prepared tn th the atIj policies sel out in notes lo the acccxjnls and cornpty WTth the charitys 9OVoming docunwL thg Charities Act 2011 and AuntIng and Reporng by Charities.. Stslement of RoconMn8nded Ptactice aPFIaLle to Charities proparfng their a¢Unts In accordance with the Fan(JaI ReportirwJ Standwd apilxb1e in the UK and Republic of Irdand published in October 2019. Reference and admlnlstrtho dots1 Regl8tered charfty name Hawhlll COMMlty Trnst Charlty r•glstratlon number 288092 Prlnclpal office Haverhlll Tth¥n H811 High Street Haverhill SLrffrAk C89 8AR The trustse The Ifustees who $emd the yewand at the date of approval were a5 foltows.. Havwhill Town cou4 cre to tho trusteè C PIKd Banker8 Uoyds Bank plc 8 High Street Haverhill Suffdk CB98AR Ind&pendent exarnlner L Thurston FCCA Lovewel Blake LLP Chartered anI•$ First Floor &Jite 2 Hillside Business Park Bury St Edmunds IP32 7EA
Haverhill Community Trust Trustee's annual reportl¢oftlnuoAI Year endod 31 March 2024 ObJectiveB and activiti•¥ Havethill Communlty Trust rmoteS such Charttable pvrpose5 the benefft of the inhabhants of Havethlll as the Tru51ee thinks rrt, and in particlar by the pmvision of pwrises for the benefit of the publlc. The charlty rents out Ihe use of th& okl IMI hall as an Arts Centr? 1nd1 offic0$ to Havethill Town Council. A room wlthSn the bulldlng is letto the LIMI History Group. Achiev•ments #nd perfomMn¢e Durfng 2023 the Ttywn Counul fu[bi$hed fhe dressirrfJ room areas of the Old Tvwn Hajl lo improve the artist experien. The Old Town Hall was also used lo hosl a major art exhibition. Muiiny in Colour. which proved 8xtraMdYkn•n4LjUi Ouring the 202>24 ye8r the charity was aÈ4e to support the fiju rarvJe of acti19 delivered by con$tent groUpSul1ngS opwating under its wng. The Clernewts C(¥nmunty Centre proTrThks hire Sp for a wd8 rar4e of ¢XTrmrTnitY uses, from l(H)ch club8 lo sport and fitrS use. The Haverhil Zon8 Youlh and Famfy Hub: The T(rwn Council oper8tfrs a soft-rAay which the Trust Use5 as a setting for youlh work and also for supw)rting farnilies IhroLvJh a rarvJe of activity. Thè Youth Skills SeNice. delivered by the town counol as a member of ONE Havethill Partnership, is also based here and deler$ support under auspices of fv conty Trttst for y[9 pgf)ple in danger of becoming NEET. 11 also provides a safe space f( young pIe to meet weekty, the Wellbeing Hub. Signpost. both for adults and younger peoK4e, elmtinues lo wovide support for people arp Struggling lo malntaln their place in education. training or ernployTnenl. The Youth Sknlls Service also ceiVed funding from the Breakthrough Fund: which is used lo help people overcome pra(#S¢al barriers lo employment, such as buying a ke to get lo work, or t15 and safety boots. The Walk, Talk and Bee Happy project supported people experienciNJ low mood, through wrvJ. dItalIOn and potIN thinkiro. The Trust maintained a watching brief over the Zone Ixjilding. As woll as offerfng an affordable soft-play cenlre, it includes prowsion for SEND thildren indudiTrJ a Monday club runnirtg throughout the year and a sensory roorn. The Zone also acts as a Irteracy chanwion offering supported reading and giMng out free botsks on behalf of the National Ltteracy Tr1. A is wovMJod for Rwm4 n$¢111j for young people who have experienced trauma. Terrffic Tugsdays Dementia Group.. This ff)nlinues to prThide a rarYJe of acliwtios for lis members. ThkS goes to Mr D Wenddl WIK) cowrtwiues to kad thi5 group M&JnIfinfy. Men's Group.. This continues lo wowde a range of ¥tIeS for Its monl)ers. Thanks goe$ to Mr Wendell who continues lo lead this group magnilkenty. Comwnunty l¢hen.. This has be usod by several 9)5 to teth 0.j and independence for a range of residents. Haverhill Volunteer Centre: Th8 Vdunteer Centre was $thal at The link, in Hwthill High Str88t. It W8S oped that this would help improve wsibility, aCSS and the numtr of people conNng loard lo volunleer In Haverhll. Unfortunately this did not materilSe, so fvnders tr)ok Ihe decisk)n dng this financial yaar lo Ihdraw funding from M8rch 31st 21r24 arKI an orderty winding LV of rt8 affairs before Summer 2024. Th8 Town CouncAI will continue lo support the Good Nghb(MI[S Schern8. Havethill In 00M.. The members of this group rarb9ed another impressive display of colourful planter5, hanging baskels and troughs in Ihe town centre. Thanks go lo Mrs S Roach for leading this ac1ive grcAJp. During Aulumthinter 2023 Ihe grp agreed a sL¥Y seTVi ff Flants That Grcw, near Rldgewell.
Haverhill Communty Trust Trustee's annual rePort(c(onU8¢fj Year endad 31 March 2024 Haverhill & District Famity Carers Supwrt (w): This yrw) cgwne under the wing of Éhg ConNnurMty Trust by resolution of the Tru80 on 18th July 21r22. TIMS grwp supports famli y wers in the town and thank5 goes to Ms J Brett for her leadershlp of thi8 grjp. Publ1¢ benefft In shaping our objecbves for the pericJ and nIr0 our acbvrbes. the Trustees have r¥JnshJered the Charity Commission's guidance on Pubfic Banefrt induding. Th8 PUbr B8n&ffit Rwir8manl {PB1), Running a Charity (PB2) and R8poJtin9 IPB31. Fln8n¢lal rethi Income from on-going 8ctbMI the year arTn1j to £391.1W2 P023'. £229,262) of whith £322,594 was for s¢fiC resld(aed projects. Hi510ri•. a granl is rrAde by Havethill Tvwn Councfi to meet any shortfam in annual in(x)me and in 2023r24 this amounted to £225,tYYJ121Y23: £117,000). Conversely. Iho £73,730 resknicted fundiro releds the ongolng success of Trust proje&s in gnIng financSal support from tharitable InlS and putrAi¢ bodies forthe work that tha Tnjsl does fLY Haverhlll. The costs of mantaining the Town Hall. clents Communty C&ntr& and other Pr150$ costs during Iho year anwnted to 10.469 12023.. £210,413) rel]ec1ing the orvJoing inveslrnenl in the Tru5fs priwnary oblecknvo of woviding PTemise5 for tharitatle a¢AMty in Ha¥ethil. over and abo¥e the direcl charrtable actIlieS ddivered through woiects. RKorvgs pokcy The charitls poky on the @StalSn( maintenance ade(pJacy of reserves WKJ b81wKos will be rèwvwed annuaty and will bè h8ld for fr main purposes: a working baance to help cvshion Ihe impact of Lmeven cash lknvs and avoid nCeSSary temwary kx)Thowing- this fomis pat of general reseNe$' a contingency lo ¢u$hlon tho Irr of urwected events or eeneS - this also fm5 part of gener81 reserves.. a means of building up funds. often referred to as deswJnaled funds. lo nwt kn(pwn or predicted r8quir&ments,' dèsignat thrKls aro a(%nted f separately but remaln legally part of the unrestricted funds. as well as reserves d8signal8d by the Ch towards knwn or predidgd requirements, there arè also r&stricted r8sems whar8 fuThJs given by a third party towards a pardlar prokd. with any match funding ¢x)mmitted by the Trust as part of a formd agreemenL Thv charitys reserves policy is lo hold 5uffiuenl reserves to ¢Thr the objecti've5 aLxTrve considerwj ID be at least Six months. unrpstsicled running costs eqUalW to £40:365 (2023.. £44,063) based on 31 March 2024 actiwty levels. Free reserves. bn9 unwtTthd and -eS19naIed fvnds. as al 31 March 2024 amounlod to £8,774 12023: £23.289) whith when comLKned th arTh)unts held for restrided projects total £82.504 {2023'. £76.627) as shown in the Staterrt of Finanoal AcbtIe$. Indepèndent examlnor rgappoknlrnnt A r&solution lo apwinl L Thurston FCCA of Lovewell Blake LLP as irthperthit examlnar wlll be proposed at the next Annual General Meeling.
Haverhill Community Trust Trustse's annual reporti¢¢nrfnuo Year ended 31 March 2024 Structure¥ govornanc• and managhwiil The Town Ham. High Street, Hav&fvl, Suffolk CB9 8AR, was r8gist8r8d 8S 8 charitab18 Injsl wilh Ih8 Charity Commisgoners in 1896. On 1 August 2004 the $c4e Tru51eeship of Ihe Clwity was tranSferd frorn St Edmundsbury Borou CounrAI to Hav8rhil Town Couwl, Ihè building haNryNJ been pemk9nently endowed to cffie of the Councifs preda¢essor hOrit in 1895 by a kxxl lamity. On 13 April 2015 the Charity Comrnission issued a stheme lo g¥wem the ¢harfty, replacing the Trust Deed. Tha scheme also prowded a new (4ects dause for the charlty. tsxtendng rem beyond that of Trustee ol the Town Hall. The object of the charrty is to promote sh charitatr4e pury)oses for Ihe geral benefft of Ihe inhabitants of the area of benefit as the Trustee Ihlnk frt. and in Fk9rtilar. iKrt wilhoul litTWtation. by the prowsIc armj malnlen8n¢e of weml$e$ for charitaL4e purposes for the benefrt of the publi& In addition. the offla1 Custodian for Chafilies was apwnted by the charity as Custo(fjan Trustee for Ihe Town Hall on 3 March 2015. Under the terrns of 8(erne, the Town CourKil as body Cote 15 responsible for the managemeril of th8 charity and may determine rutes. UlatiOnS, charges. tom, condlbons and prosOnS for that purpose. As part of their inductiotraInIng Counrylk)rs re¢eTve inStr"On and guitlaM on their role as Truslee, th8 hlstory and otry'ectives of the charfty. aml the relatILshIp belween HaverhAI Town Coundl and HethI11 Gornmunity Trust. The derk lo TnJsle¢ managgs the day-t(Hlay Opeti8 of the thatty. The tharity has a very dose relalionshlp wtth Its Trusto&. Havethil coun1. wl¥ch pm%rydes funding arbd day4¢bday services lo enable the charity to carry out its charilatle obiectwes. Rlsk managomont The Trustee has assessed the rr01 risks to whith the dwity is exposed, in particular related lo the opèr81ions financ&s of th8 tharify and is satisfied th8t systems and pro(ur$S are in pl8C8 to miligale ils èxrM)sur8 to thèsè major risks. The ackrvywledge5 Tts ultimate responslbdity for ensuring that the charity has in pl a system of Intem conlrol that is appropriale to Ihe business erNironment in which il opwales. These controls are designèd to gi¥8 reas(Ne 9Ssuran with r&scl to.. Th8 r81iability of finanoa information used wlthin the charity orfor pUbIhtIOn The maintenance of woper accountrThJ records. and The safeguarding ol assets against unauthoris8d usa ordisw&siti¢)n. It 15 the Trustee's reSpsIbl1ty to estatlsh aThJ mairrtain syslems of intemal finanoal ntr. StKh systems can only provide reaSonae and rKJl absdLrte assurance against malwla financial risstslemenl or loss. Key elements indude ensuring that.. POIleS and wdureS are in pl¥, Indsn9 Ihe (lo¢IenlIon of key syslerns and rulgs rolating lo the delegation of auttrK)tilies, whvth allow Ihe moniiorirrfj of controls and restrtct the authIse{l use of the Charitys assels. Officers at the appropriat¢ I1$ tak& rOspsIti1Y for imw)rtrt Iwsiness functhons. Information in respect of inry)rne and expen¢bJre 15 availabk whth allows the Trustee to monitor key business risks fmancial obi8cbv&s. and rws towards ffinanrial plans sg1 frw Ihg al. Fin8nual infL¥malion is prepared on a regulw basis. JI Tnajor CO¥1ments arKI invesknenl prc4ects are subpd lo fomial authorisation prrxedures. Rgports ftom management, and fr(Mn thè independent examiner in reswt of control prdureS are reviewed. Appropriate action is taken to correct weaknesses idanbfi8d from Ihe above repNts.
Haverhill Community Trust Trustee's annual report (conthtn Yoar ended 31 March 2024 On behaw of fhe Tru51ee. the Finan Cornrnittee ha5 remewed the effecfNeness of the system of internal financial in existenr£ for the thaiity frthe yearerKl8d 31 Mard) 2(r24. No weakne&se8 were fourvj in intemal financia cortsols whK reqre di5d05ure in Ihe financial st81gmenl8 or in Ihe independent examinerfs reF¥Nt finanual stalemenl$. The ¢thBrits mn unreslricte(l is ckned from renting spaL to vther organi58tions, induding Haverhill and Di8trict L¢Jcal History Museum and HaverhfA Town Gcyjnc. The rent receNed fM tsnan15 was reviewed in 21Y22 by an independent expert and set by th& Trustee at the Ve[ adwsed. Rolat8d party trnnsactlons The charity has a very close relationship ¥th tho ¢uThent Trust. Havevhill T¢)wn CwrKI. A summary of Iransacllons with this party is Dsted In the notes to the llnancial statements. Plans for fu10 perfods The charKy plan8 to t¥)ntlnue to promote its a¢ti¥ities for the fiJrtheM¢e of ris otiectives for the b8nefil of the inhabitants of the area of benefit as the Trustee thinks fiL and in particular. bul wthLMJt limitation, by the provision and maintsnance of premis8s for etharilatrA8 purpos&s ofth8 k)ng tèm) t&fil of the public. The trustee's annual report was approwd on ....... ..... ............ .. biJsla8s by. nod on behalf of the t#)*d of C Poole Clerk lo the trnslee
Haverhill Community Trust Independent examinovs report to the trustee of Haverhill Community Tt Year ended 31 March 2024 I report lo the chwty trust86 on my eX9That of the ffinancial statn8ntS of the charity for th8 y&ar 8Th18d 31 Mard) 2024 which comprise the statement of ffinancial ibibos, blan( shegt and the rglaled nolgs. Re$poMlblltle$ and ba$is of rgwt As the charitys Itustee you are responsible for the preparatKin of the fmandal stat&ments In ardanc? with the requirements of fhe Charili6s Aci 20111'the Ad). I report in rospt of my examlnatk)n of the (witys finanraal statemenls carl oul Ldr section 145 of the Act and in (xrrying out my examinatbjn I have foltred all the aprCabb Dlrg¢tk)ns gl¥en by th¢ Charity Commission under 8tion 14515}Ib) ofthe ACL Independent examlnerfs statom•nt sin the charitys gr05s income exceed £250,( yr examiner musl be a member of a body 118led In section 145 of the 2011 Ad. I that l am qualified to undertake the examination because l am a member ofthe AssoclatK)n of Chartered Certffied Accn&ts. leh is OM ofth8 Ilsted bodiès. I have completed my examination. l nfim7 that no material matters havè cornè lo my attenlc>n in connection wilh Ihg examination giwng me cause to bdieve that in any material respecL ar%ounting records were not kepl in rwe¢t of the itharity as wired by $tion 130 of the Act,. or the finansial Stslements ¢kn not aCCC wilh those rOrds.. or Ihe finanoal stalemonls do not ¢xJmpty WTth Ihe applicable rre[rn1$ reMing Ihe fcffli and Content of a¢cuunts set out in the Chariknes ccJnlS and Reports) R&gulations 20D8 olher IhBn any r8qulrèrnent that the accounts give a'lrue and faif wew wlN"ch ks not 8 fflaltei Considered as part of an independent examinati¢)n. I have no ¢on¢ems and have come across rKJ olher matters in conn8cbon th8 8X8minalon to which attention Should be drdwn in Ihis report In cYd8r to en8ble 8 prc•er understanding of the a¢Unts lo bè reached. Your attention 18 dwn lo the fact Ihal Charity has wepared the )Unts laal stslements) in accordance with Accounting and R8poIr0 by Charftie8.' Statement of Recomrnended Prdctice applicable lo chariti&s preparing thèir OUnts in att0rdat with the FanCIal Reporting Standard applicable in the UK and Republic of Irelarvj IFRS 102) in preference to the Ar)tiJ and Reporting by Charillgs.. S18Éennl of Recommended Practlce issued on 1 April 2005 ¥hl( Is feffed to in the extant regulalh)ns bul has Since boon withdrawn. l understand that this has been done in ¢yder f tho a¢c(Kmts to prowide a tsue and fair wew in accordance with the G8n8raty Aacepl8d Accounting Practi(% effeGtNe for rep)rbng periods beginning on cw after 1 January 2015. L Thurston FCCA Independert Fxamlner Lov8W811 Blak8 LLP CharteTed accountsnts First Floor Suite 2 Hlllsid8 Buwness Park Bury St Edmunds IP32 7EA 29 November 2024
Haverhill Community Trust Statement of financial activities Year ondad 31 March 2024 2024 2023 lurbjs funds fvnds Totsl fvnds Total funds Income and endowments Donations, gr8nts 8nd legacles Charilable acti¥iti8s other Irling actnritses Total Income 297.507 25.087 298,168 44,892 48,102 391.1K2 141,650 40,857 46,755 229,2S2 19.80S 48,102 68,568 322,594 ExpenTe Charitable gclfvili8S 80,729 80,729 385,285 385,285 238,747 238,747 Total expenthbjre Net Incomellexpendliure) b•foYe transfer of funds (12,161) 18.0&8 5,877 {9,4851 Transfers b6ts¥ean fuThJs (2,354} Ng1 movornent in funds (14,5151 20.392 5,877 {9,4851 R•¢on¢iliation of funds Total funds brought forward Total fundB caTrfed forward 23,289 53.338 358.500 4&5,127 441,004 444,612 8,774 73,730 358,500 435,127 The statemenl of flnancial athlles indudes all arvj h)s5es wiwj in the ygar. AJI Inconk and exwndilurB derive frorn {tinLrj &Nities. Tho notos on pages 9 to 18 farni p•rt ofthe8e flnancl•l ¥tstw*nt•.
Haverhill Community Trust Balance sheet 31 March 2024 2024 Fixgd assets T8ngible fixed as8ets 367,188 368,926 Current a8$•ts Debtor Cash at bank awKI in hand 50,889 27,622 78,511 32.341 50.4 82.837 Credllorn: Amounts falling qtue wlthln one year current assets 12 (4,695) {16.6361 73.816 66,201 435.127 435,127 Total assots1•$8 ¢unenl Il•blllll•s 441,¢J)4 Net a¥sets 441.Crf)4 Funth ofthe rharity Endowmant funds Restri¢tèd funds Unrestricted fvnd8 358,500 73.730 8,774 356,500 53,338 23,289 435,127 Total ¢hqiity funds 13 441,CKJ4 These fi anual $tatwnents were by the board of trustees a1 aulhoris8d for issu8 on .7s2¥ and are signed on behalf ofthe board by.. C Poole Clark to th8 trust88 The noles on pages 9 to 18 fonn partof these financial slatemonts.
Haverhill Community Trust Notes to tho financlal statements Year ended 31 March 2024 General InfornutloTr The charity is a putlic benefit entity and a registered chaTrty in England arKI Wale8 and is uninccyporatsd. The addre$$ of Ihe wine4) Off is Ha¥Mtrill Town Hall, High Slre8t. HathIN, Suffolk, CB9 8AR. Sl4tsm¢nt of Comp4cO Th9 chatfty (StituteS a pulAic tenefit entity as defined by FRS 11Y2. The financial stalements have been prepared In actsjrdance wrth Ao)Juntir¥J and Rwting by Chariiie5.' Statement of Recornrnended Pract8 applicable to charities wep3mg Iheir accounts in accordance with Ihe Financial Reporbro sdard aprAlcable kn the UK and RewNic of Ireland Issued In October 2019, the Financ18t Rewjrbng Standard 4)plIcae in the United lQngdorn and RepUbL of Ireland IFRS 1021, the Chariiles A& 2011 and UK Generany Accepted Accounting pract. Accounting policlos Basis of preparation The finandal slatements have teen prepared on the historical cost basis. a5 modiffied by the revaluation of certain finala1 assets and liabilillos and investsnent propertigs measured at fair value thr(HJgh kneomo or expendiiure. The finanaal stalernents prepared in ste9. 1¢h is Iho fun(*itywl currency ofthe entity. Going concern Th8 ar]unts have been prepared on the gng (%)rrn basis and the Truste85 beli8ve that no rn81Èri81 uncartainties exSst. Trustees have considered the level of funds held 8nd the expecled In¢ome 8nd expanditure for the next 12 [rnIhS from authorising these financial statements. The ldgeted income and expenditure is suffictent the thl of reserves for Ihe tharity lo be able to continue as 8 wng concem. Income tax The a¢livitips of Haverhill Community Trust are exempt from United lfjwydom Incomè arvj Cuwrdtion taxation, proded that the IncljK 15 apF4ied to cthaiilable purposes. Fund accountkng Unreslrided knds are waifable for use al the dist¥etion of the Trustees to further any of the tharitls PUfP05e8. Dgnated fvnds ¥th8rè rwssary, we UnSti[Wj thd$ eamthed by the Trustees particular fubjre prtsje or comnmtsnent Rostiicted funds are Sublted to reslridions on tt1r expendthre dedared by the donor or through the temis of an appeal. and fal into of two s>dasses. restricled income fiJnd5 or endrywrnenl funds.
Haverhill Communty Trust NotOS to the financlal statsments {¢onOnuodJ Year ended 31 March 2024 A¢countlng pollcl8s (conthiiod Income All incorne is induded in the statement of financial actwrbes when enlillemenl has passed to the charity, it is probable that the econonyc beneffts assoc4aknl wlth the tranSactn will flow lo the chaiity and the 8rnnt can be reliably measuwj. The f(th>hng $pe¢ifi¢ wlides are 8ppli8d to parttcular ¢alegories olin¢ome: income from donations or granls is recc9$9d there Is den of enlillement to the gift, re¢elpt is probable and Rs am(wnl can be measured relbly. In partIlar. grants from Hav&rhill Town Council is set lo meet Ihe net Costs ofthe Ch[ during its trusteesh and 1$ pald over and above any rent payab. IBgacy iThx)me. where relevrt is rse when Cept is wobabla and enfiuemenl Is establish1. from donated wls is mga8twe(18tthe fairvalue of the gwds unless IhSs is impracknl to measure reliably, in which case the walue is derived trom the cx)st to the donor or tho esllmalod resale Wdlue. Donated facilifies and seNces are recognised in the accounts when reIved rf the value can be rdiabty measured. No amounls arg in¢ltkd for the contribution of general VolunteS. Income from contracts for the suppfy of services is recogrwsed with the delivery of the iyjntracted seNce. This 1$ classifd as unrestrictad funds unl8SS thèr& is a contractual requirement for it lo be 5penl i>n 3 pthAar purpK)se and reluml rf wspert vthith case it may be regarded 8$ restricted. Expendlture Expen(filure 15 reo)gnised on accwals basis as a fiabilty is iwjrred. Expenditure includes any VAT whith cannot be fijlly recovered, and is rJassffied under headings of the statement of financial acimties lo 4thich il L9$. expenditu on raising lunds indudes the o)sts of al fundrydi8ing 8ctivities, gvenls, no charitable Ir&Jing aclniibes. a1 th8 sal8 of ¢kJnated grM>Js. expenditure on Chilable acuwties indLkles all cosls irKurred by a charity in undertaking 8CtiMti8s that fvrther its ¢h8wilat4e aims the benefit of its benefiLXali@s, indling thos support Costs and costs relating to the governan of th8 charity aFwlioned to charitable adNth8S. oth8r expenditurg in¢ludo$ 41 gxwrfrture that Is nwiher related lo raising funds for the tharily nor p( of its expendiiure on charitatrAe athwit1. l ts)sts are allo(led to expendre ialagories refbèctlng use of the resour¢e. Direct $15 attributable lo a single actimty are allocat diredy lo that activity. Shared costs are apportioned belween the a¢tiMlies they ntribUte to on a reasonab, justiffiable K1 ¢x)nsislent b8SiS. Tangible assgts Tangible assets are irilkally recorded at Cost. and SLtsequently stated at cost less any accumulated depreciation and imwrment losses. Any tsNJitrAe assets wried al revalued anuntS ar8 recordad al the falr value al the date of re¥alualion less any sub8equenl actwmul8ted depreci8tion 2nd subsequent aumulated impalmnI b)sses. -10-
Haverhill Community Trust Notes to the financial statements (¢othw¢Q Year ended 31 March 2024 Ac¢ounting policies [10U) Tanglbh assets (MnllnLO) in¢reaso In the carryitvJ amount of an asset as a result of a revaluafion. is reDJgnised in other recogni5ed gains and knsses. unsS it rnv8rsas a tharyè for Impainyt that has pr8viously bègn recognised as expenditure wrfhin th& st41erTwI of finan0Y acltvities. A decrease in the carrying amount of an asset as a rasult of rewaluation. recogn15ed in other regnised gains and losses. exp1 lo whl¢h11 offsets any previous revauabon gain. in which case the loss is shown within other recogrthsed gains and losses on the sta11 offfinarx44 #l¥ilig$. The freohold property, which c(¥Sts of the Hayerhill To¥ffl Hall and associated an1 and machinery within the buihjing is held al Wdluabon. The ofth• wop8rty is raviVed annualty by th8 trusl88S. Lreclation Depreciation is calculated so as to write off Ihe or ¥ual)n of an assgt. loss hs residual valu$, over the useful economic lrfe of that asset as folows.. Fi¥turas and fittings 10% straght Flnan¢lo1 Intstiumonts A fin8n¢i818sset LY a financ4al fiabRity is reccwised onty when Ilk enlty beCmeS a paity lo the ocactUal prowsK)ns of Ihe instru[tl. Bac flnancial instNments are inibalty rrISed at amunt wryvablo or payatrfe induding any related Iransaclhjn costs, unless arrang¢monl (x)nstiiutos a fin8nong Ira)sa¢Uon. whtrre il is recognised al Ihe presenl value of Iho future pay115 thscounted at a Ike1 Tale of tnler8st for a similar d8bl instrunwt. Current assets and current liatrmlitlgs ore subw4uw)Uy measured al the cash or other LwisDJeryatlon ex lo be paKI 01 reCEd and Th)t discounbj. Debt instruments are subwu&ntly m8asur8d at antxtsed iJ)sl. Donatlon grants and 9a•S Unrestricted FuThJs Reslricted Totsl Fund$ Funds 2024 Donations Donalion5 and gfft aid Grants Havethill Town Counal CommunityAction Sullolk Wesl Suffoike#tCounc41 Suffolk County Cc4Jndl Tackling Poveriy Othèr grants rerAved belcw £5,C(Kl 225,(KJO 5,131 44,970 1,020 14,223 6,503 225,0 5,131 44,970 1,020 14,223 7,164 298,16e 297,507 11
Haverhill Community Trust Notes to the financial statements {conthw Year anded 31 March 2024 Donation8J grants and legacles (conf Unres1rictwJ Fd5 Re5trthd TLal Funds Funds 2023 Donatlons Donations and gfft 376 1.602 1.978 Grants Haverhlll Town COUNI Community Actlon Suffolk Wesl Suffolk GoyBty Councl Suffolk County CnCil T8¢kling Poverty Other grants re¢elved bel É5.C 87.OLKJ 6.717 9.387 1.850 2,514 2.4tM 117,000 6,717 9,387 1,650 2,514 30,376 111.274 141,650 Charitable actiYitig$ Unr8strictad Funds Roslrided Tot•1 Funds Funds 2024 Letbng cMunity group incfj Volunloer Centre Income Dernentia group incx)me Community acaivrties and support sep4i 19,805 19,805 23.811 1.276 23,811 1.278 19,805 25.087 44,892 Unreslricted Funds Reslricted Tolal Funds Funds 2023 Letting Community group income Voluntser Cent irwne Demenlia group inciime Community activits $Lvtth seN¢xs 12,660 12,660 2,275 16,255 2.275 16.255 9.667 9,667 12,660 28,197 40,8S7 Other trading activltie5 Unrostslcted Total Funds Unrestricted Total Fund$ FWNIS 2024 Funds 2023 Rent and booknng fees inrne 48.102 48,102 46.755 46,755 12-
Haverhill Community Trust Notes to the financial ststements (cothuo Year ended 31 March 2024 Exp•ndEturn on charltabl• aetmtles Unrestricted Funds Restricted Total Funds Funds 2024 Other prenThses costs Conwnuntty group exn"tUffe COnunity l¢han Haverhill in blwm Community acli¥ities and wpport servKs Supwrt costs 73.683 233,981 5,121 820 5.637 58,387 610 307,864 5,121 B20 5,637 58.387 7,656 385,285 80.729 Unrestrided Funds Restricted Total Funds Funds 2D23 Olher premises sts Community group expenditure Community kilthen Haverhill in bloom Communriy acti$ and Supp ser¥iL%S Support costs 80.2T2 121.709 201,981 1,653 8,535 14,195 6.470 6,535 14,195 14,323 238,747 7,853 88,125 150,622 Analysls of support ¢osts 2024 2023 Insurance Bank targes Other costs Independent eXInation fee Depreciation 2.912 4,911 215 5,374 2,085 1,738 14,323 1.950 1,738 7,65S N•t Fnc(M)wllexpgn¢fthrnl Net Sncc1(0xp¢n¢fflurel ts ststed after drgI{¢7&d1tsng): 2024 2023 Deprectallon of fawible flX asset8 1.738 1,738 Stsff costs Thè average ha1 rx)unl of oyeeS during the yearwas Nl (2023: N1 . No emoyee received ernOyee benofits of nre than £.[ during the yw (2023: £Nill. The Trustees neither receNed not waNed any 1emunerd1Tr during the year P023.' £Nil) and no TnJst88 has r8ceiv8d any reimbufsernenk of expenses from the Chlty during Iho yoar ofthor thredly or IndirY. 13-
Haverhill Community Trust Not8s to the flnancial statements Year ended 31 March 2024 10. Tanglble fixed assets Fmhold Hxwres and pro&wty fittin Total At 4 AFII 2023 and 31 March 2024 Dopre¢latlan At 1 April 2023 Charge fthe year At 31 Mar¢h 2024 358.SOO 17.378 375.876 6.952 8.952 1.738 8,690 carn9 amount At31 Narch 2024 358.5DO 8,688 367,188 Al 31 Marth 2023 358.5DQ 10.426 368.926 The fteehokl propety and ils contents has been hislori¢ally valued at £358.500 by the Valuation Office Sn 8¢COrda wlth the Slaterwl of A55et Valuation Practice and Guldance Notes of The Royal Inslrtule of Chartered Surveyors. The Trustees have valued the property at each sub8equonl repcting period wrth tho valLk inline the fomial vuatw)n undertakèn. 11. D•btor& 2024 2023 Trade debtor5 Prepayments and acLrued income Amounts owed by Haverhill Town Counul Oth8r debtors 1,345 4.470 20,771 5,755 5.682 26.234 18.188 50,889 32,341 12. Credltors: Amounts fallng due wlthln one year 2024 2023 Trade credtLor5 Accruals and deferred income 2,432 2,283 4.695 5,639 10,997 16,636 14-
Haverhill Community Trust Notes to the financial statements icon Year endod 31 March 2024 13. Analws of Charitab funds Endowmènt funds At1Awl 2023 At 31 March 2024 IrKom8 EXpIllure TSle[S 358,500 At1Awl 2022 Al 31 March 2023 IrKorne Exprture Transfers Arts Centre 358.51KI 358,500 Restrlcted funds All41 2023 Al 31 March 2024 Incorne EXd[ture Transfers Arts Centre Terrtfic Tuesday demenlla group Famity Carors SUPPOrt group m.$ grp Social pr8scribtng Community group y proj&t Kitchen prqect Thèzone Havert)ill in bloom Signp051 (C(0p) Signpost (Wesl Sufftjlk Counclll Walk& Ta Breakthrough HAC Puk4ic Mental 224.808 {192.115) (32,2281 3.500 3.214 2252 {5,4e4) (4) 700 22,341 19,558 22,341 19.545 2.746 2,928 1,723 (131 IY2,1541 (6,629) fy).318 34,582 1.723 500 5,338 2.645 11,130 73.730 ) 13,034 11.2401 (304,556) 12.370 322,594 -15-
Haverhlll Community Trust Notes to the flnanclal statements (con Year ended 31 March 2024 At 1 Awil At 31 March 2023 Inm Exp)ditwo Tran8fer8 Clgmonts Communrty Centre Arts Centre Terrific lue$day dementla group Family Carws support group Men's group Sodal we$¢xlblng Communlty group youth project Kitchen pr¢i8ct The Zone Haverhill volunteer centr Hav8rhill in bloom 6,447 137 30,317 (6,5841 3,2 3,035 1,219 {1.6531 3.214 1,056 440 700 420 7[ 18.fj65 19.618 6.197 8.818 {5.1421 22,341 19.5S8 68.947 22,240 6.717 139.471 r15,1441 2.2401 {6,&341 {150.6221 2,811 64,489 2,994 S3,336 UntrIcted fundB At1Awl 2W23 At 31 March 2024 Ir Expendrtwe Tran$fers neral funds De$ign8tad- Propèty aNI repair8 P6,187) (6.1461 8.774 20.750 (54,5421 3,7¥2 23.289 &8,568 <80,7291 (2.3541 8,774 At 1 Awil 2022 Al 31 Marth 2023 Ints)rne Exwdrture Transfers General funds Designated funds- Property and repalrs res8e 15.868 59.791 (73,120) 2,539 5.755 (15,1Y)5) 20,750 21,ff23 89.791 (88,1251 23,289 Purnose of endowment fun¢ts.' Arts Centre.. Is a penTAnent endrAvnrt'yor the Lwefft of the wpte of Haverhiif relallng to the Arts Centro property. PuKpose of rnstrl¢t¢dfund&" Arts Centre.. Represents fuTrJs gi¥8n ftthe ywpose of s14)wlng the activates oflhe the Arts Cenlre. Family car8 SUPPOrt gmp.. Rewgsents funds given for the wrwjse rjf supporbng the adiwales of Ihs this group. 16
Haverhill Community Trust Notes to the financial statements fconl Year ended 31 March 2024 Sociat tK8suibing: Repw8sents fun(L% purpw of Supping Sla1 prestJii¥ng aclwibes. CommuiNty group youlh woiect Is re#trk for the de¥dopnènt and pro11s of services for Ihe youth comnyjnity. I(ten prole('. Represents funds re(ivwJ West Sutfolk Cc¢11 for the pros1On of ts)okery skills education. Thg Zorw.. Reprosonts funds given fwlhe purpose of suppyUNJ the acli¥ibes of thethis group. Havethill in bloom.. Represents fund8 re8lrided to be expEnded towards prOM1n, and the provision of, floral displays in and around the t(Mn. Signpost IC¢>Opl'. Represents fund5 given lor mdu year Slgnm proje(1 from Co Op Local Comrnunity Fund. Signpost (Wesl Represents funds glven for nwmi year Swpost project from West Suffolk Council. Walk & Tdk: Rgw8sents funds given for mulb yoar Walk & Talk project grant fvnding frorn Public Mental Health Programme. Br8akthrough.' R8pr8s8nts funds grv8n for M11 y8ar Breakthrough project grant frJndirvJ from Suffolk Community TrusL HAC Public Mental Heatth: Represents funds gNen for nwjlti year HAC prrJl& Cl8mènts Community ctra.. Is an 8xpendat4e enthimenl for ihe Clements Communtty Centre reL4ling to funds rocewes from the Leislon Comnwnity Assoctylion to be used for solely for the ainlenance ofthe clemlS Comrnunty Centre pr(yerty. Terrific tu8sday damBntia group: R8pres8nts furKls ¥•n fv th8 purpose of suppjrting the activates of the this group. Men's group: Represents fvnds gi4En forth¢ puq>ose of supwliThJ the acivitses of the this group. Havethill Volunteer Centre.. Represents funds grwen for the wrpjse of Suppting the adlwlles of the this group. Pujpose of deslgnatsd funds.. Propety and repairs reseNes.' Represewts a fund set asNJe for fijture prvperty repairs. A$ al each year eThJ de amounts are transferr¢d to &¥1 fr thts fund to strengthen its position in anlicyaly)n of future ¢>)sts t¥48Tds energy efflent experKlthre as necess aThJ wlw¢ poss)le. 17-
Haverhlll Communlty Trust Notes to the financial statements (co•Jth(K Year ended 31 March 2024 14. Analysis of net a8s•ts beiween funds As al 31 March 2024 Urweslrided FWKIS Restricted Funds En(bjwmI Tolal Funds Funds 2024 TangiNe fixed assets N81 eurrenl &8sets 8.8B8 367,188 73,816 73.730 Mat a8ts 8.T74 73.730 358.500 441,IX As at 31 March 2023 Unrestsi¢ied Funds Restricted Funds Endowment Total Funds Funds 2023 Tangible fixed assets Nel ¢urrent assets 10,426 12.863 358,500 368,926 e6,201 Netassets 358.500 435,127 15. Financlal instruments 2024 2023 The carrying amount of finarwJ81 Instrumènts at 31 March 2024 were.. Financial assets measured at lair wak. Freehold woperty 358,500 16. Relatad parues Haverhill Town Counul, the Trustee is a related party. During the year the charity received amounts lotalling £101.699 (2023.. £100,736) and paid amounts f¢y of £107,162 12023: £111,449). Inrjuded in debtors at Ihe year eryl is a baLgrth of £26.234 {2023: £20,771) due from Haverhill Town Council. All other related party transa¢tion$ are ollwvrise dist*)sed In the note8 to Ihe finar918tatements. There were no other rela party tranlIonS in tS orthe prioryear. 18-