KEW COMMUNrrY TRUST IA Charltable Company Limitgd by Guarantee) COMPANY REGISTRATION NUMBER: 1736623 REGISTERED CHARifY NUMBER: 289707 ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
KEW COMMUNITY TRUST ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2024 CONTENTS PAGE Trustees, Annual Report Chairfs Report Financkol Review Audft Report 7-10 Staternent of Financial Actlvlts"es B81ance Sheel 12 Notes on the Flnanctal Statements 13-28
KEW COMMUNITY TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Reference and Admlnlstrallon Delall$ Charity N8me R8gistered Charity No. RegiSted Office Kew Communty Trust 289707 Sl. Luke's ift The Avenue, Kew. Richmond, Surrey, TVV9 2AJ Bankers-. Barclay8 Bank PIC 8 George Street Richmond TW9 1JU Trustee8.' Louise Fluker Chair John Armitslead Vice Chair Steve Williams Treasurer Dominic Evans Rowen Graharn-colltns Iiesigned October 20231 Ir&5igned October 20231 Jeff Harris Rlta Kamat Gill Linthwaf£e lelected November 20231 Diana Omiond David Polya Stephen Robinson Gillian Thtsrpe lelected Fèbruary 20241 (resigned July 20241 lelected February 20241 Ireslgned October 20231 Bridget Towers Caroline Smee Shiona Williams
KEW COMMUNITY TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) Stwcture, Governan¢¢ and Management Type of governing document- Memorandum and Articles of Association Company Limited by Guarantee not having a share capital Company Registration No- 1736623 Tiustee Selection Methods- Local advertisements, personal se81¢h and recommendation Obl•ctlve8 and Activitias Surnmary of objects of the Kew Community Trust Iyhe Ttusl"l are set out in its goveming document Promoting benefits for local inhabitants of all ages. Relief of the elderly. ProrThJtion of education course3. C04)perating with ohaiitable bodie8. Establishing a ¢èntre I centres for any of the abovè. Managing and maintainirvJ such properties and equlpmenl as necessary for the above. Summary of the main activities in relation lo these objects Running the Avenue Club, a Social Club for IoGal residents. Managing and maintaining K8w Community Centre for the benefft oflhe lor21 communty and letting available space for community and pr*vate functions to prodLsce incorne lo support the Trust. The trustees have paid due regard to the guidance issued by the Gharty Comrni55ion on publi¢ b8nelrt when reviewing the charitys airn$ and objectives and in planning what activities the Trust would undertake. Organisational Structure The Trust has a Management Committtrè of up to 15 trystees and the general manager, who meet quarterfy and are responsible for the Strateg direction of the charity. Trustees also sit on 8t least one sub-eommrttee. The trustees are appointed to Su1COMmittee$ based on the needs of that committee and the skills ol the trustee. The general rnanagei and staff members may also sit on these committees. Sub-comrnittees meet at least tsnce a year and operate wlhin agreed terms of referencÈ. The sul>¢ommittees are Avenue Club, Buildlngs, Finance. Fundraising 8nd Governanc4. The trustees delegate the daY-ldaY responsibility for the delivery of services to the managgment team. The Geneial Manager has the iesponsibility for the day-trday operational management of the Centre, supervision of the staff team and ensuring that work practices are in line wtEh good practice and all applicable laws and regulations are complied with. Relationship with other charities The Trust maintains Telationship8 witti other charltl88 provid¥)g similar s8rvices through its involvement with Comrnunty Independent Living Serwce ICILSI. It also works closety with other local charitie8 such as the Kew Soaety and Kew Neighbourhood Association io deliver benefits to the commurity.
KEW COMMUNITY TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI Trustees, Ro$ponsibilities in Relation to the Flnanclal Ststèments Thè charity Trustees Iwho are also the directois of Kew Communty Trust for the purposes of company lawl are responsible for preparing a Trustees, annual report and the ffin3ncial statements in accordance with applicablè law and Uniled Kingdom Accounting Standards Iuniled Kingdom GeneialSy Accepted Accounting Practice). Company law requires the charity Twslees to prepare )Inan¢lal statements for each year which 8 tr and fair view of the state of affairs of the charitable company and of the incoming Tesources and 8pplicatlon of resources, including the income and expenditure, of the ch8ritable company foi that period. Ill pieparing these financial ststements, the Trustees are required to.. sele¢t sultable 8coounting polic6 and then apply them consislentty.. observe the methods and prinaples In the Charities SORP-, make judgements and estimates that are Teasonable and prudent, slate whether applicable UK accounting Standards have been followed. subject to any rn8terial departures disclosed and explained in the financial statements.. prepare the financial statemen15 Qn the gotng concern basis unless it is inappropriats to presume that the ¢ompany will continue in i>usiHess. The Trustees are responsible for keeping proper accountin9 records that disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the finana81 slalements comply wilh the Companiès Act 2006. They are also responsible lor 5afegLJarding the assets of the company and hernce for taking reasonablè steps for the pravèntion ar¥J dgtsction for fraud and other irregularrties. The Trustees ale responsible for the maintenance and integrity of the corporate and financial inforniation induded on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemlnation of financial statements may differ from legislatlon in othei jurisdictions. Statement as to dlsclosure to our auditorB In so far as the Trustees are aware at the tlme of approving our Trustees, annual report.. there is no ralevant information, being information needed by the audttor in connecuon vAth preparing their ieport, ol which the Company's audf¢or Is unawaTe, and Ihe Trustees, having made enquiries offellowTrustees, have each taken all steps mat helshe is obliged to tske as a Trustee in order to make themselves aware of any relevant aud(( infomiation ad lo establish that the auditor is aware of that infrimiation. By order of the Board of Tn%stees Loui8e Flukei Chair
KEW COMMUNITY TRUST CHAIR'S REPORT YEAR ENDED 31 MARCH 2024 Lrfe at Kew Community Trust is never staticl Under the leadership of our General Manager. Cindy 8rosnan, KCT had continued to develop our mission which we refined last yeai. This is. To connect people in Kew by making available a welcoming and stimulating tnix of cla5se5 and activities through the Avenue Club. and to offer excellent facilities for use by local groups. course providers and residents.. Our objedives remain to involve people of all ages from all parts ot Kew in different activities which are of interest. fun and enable residents to meet each other and make new friend5 thereby strengthening the Kew community. We also work with other local societies such as the Kew Society and Kew Neighbourhood A550cialion. In October we hosted a Qulz Night th the incomparable Serge Lourie as quiz master. The evenlng was a sell out and involved people of all ages. KCT ttosts Meet In K, which is a drop in eaty evening event on the first Thursday of each month which enables residents to meet each other and 15 now lun by the Kew Society. Wa continue to provide a popular venue for wedding receptions, partles, loral societies and courses and thero are fèw sparè slots available. Our facilities include the main hall and additional spaces and the range of activit18s has increased. The Avenue Club is KCT'S main outreach actimty. We have continued Coffee momings and twice weekly lursches as well as oulings lo Interesting places including a joint visit with the Kew Society to Denbies Vineyard. In addition to the Christmas lunch we also organi$ed an aftemoon tea at Easter. Our activities range from exercise classes to language classes, lectures on HstOry of Art, Film Club, Creative Writèrs, Drum Circle, the Choir and"The Avenukes. our ukulele players. Therè is also the monthty Walking Group. KCT depends on its part time staff under Cindy's leadership. This year there have been v8rious changes. We weie Sorry that Siobhan decided to leave in orderto have moretime to travel but theAvenue Club has continued to prosper under Charfotte, who has be¢ome the Club Manager supportecl by Sue and volunteers. Eram and Ela who help out with Club actnrities and Friday lunches. Hilde and Gabriella are excellent in runnin9 the hall lettings. Bernadette, our Finance Manager, and Patrick, our sile supervisor, have continued in their roles. We are extremely grateful to all our staff who show flexibilty and willingness to help oul and to make KCT successful. The Trustee Board has 8180 changed. Jeff Harris, our chair since 2019, retired at the AGM in October. My fellow trustees and l are extrerllely gratefvl to Jeff who steered KCT through the di51UPtions of Covid and other changes and kept the show on the road. We also saw the tIrement of Shiona Williams. Rowen Graham- Colllns 8nd Rory McPherson as trustees and thallk them for their advice and 8UPPQrt whilst trustees. The KCT board has been joined by Gill Linthwaite, Gilltan Thorpe and Caroline Srnee. Kew Corrmunity Trust is well funded by the Marwood bequest, but it is the responsibility of trustees to maintain the capital value of the endowment in order to generate sU1ent income which together with income from lettings 5ubsidise5 the activities of the Avenue Club. We are not permitted to spend the capitsl to 3ubsidise courses or activities run by KCT. If you feel that you can support us wlth ideas, with your time or wtth fundlng. please get in touch. Thank you to all of you who support KCT so that tt can continue to improve the lives of all who live in Kew. Louise Fluker Chair July 2024
KEW COMMUNITY TRUST FINANCIAL REVIEW YEAR ENDED 31 MARCH 2024 Totsl income for the year was £361,537 compared with £326,667 in 2023 an increase of 11 Yo. The Avenue Club recorded a 23¥0 Increase in total income. This incrèas6 in Avenue Club income reflects higher attendan lor classes and events as well as some infxeases in fee levels. Income from room hire was 9% higher in 2024. This reflects the success in retaining regular hirers as well as finding new hirers and continuing to gain a steaiyy stream of booking8 for weddings, parties 8nd ot*ei special events. KCT also continued to benefrtfrom the Cornmunity Independent Lwing S¢hem8 run by Age UK. It also received regular and one-off donatlons from tts Community Supporters, for which the Trustees are tnost grateful, Including donations trom the Couch to SK initiative and memorial donations for the Avenue Club. Total cost5 were £360,89212023-£379,4431. The decrease in costs largetyreflects the fact that in the previoLJS year there were some exTrplional costs. The Trust Gontiftuès to manage its costs prudentty in order lo support tts ¢ommitmenl to run the charity on a sustainable basis while remaining a1Tordable for its members and other stakeholders. Income from investments forthe ye8rw8s £1[,528 whlch is an increase on the previous ye81. This invèstment income enabled the Tiust to achieve 8 financial break-even for the year before the movement in th8 value ol its investtnent fund. The revaluation of the CCLA investment at year end resulted in an unr8alis8d gain for the year of £320.628 12023.. a loss of £139.3101. The gain in the year more than offset the loss in the pievious year. Tho cumulative unreali5ed galn on the Invèstm8nt was £1,162,77012023'. £842,142). At year end the investment was valued at £3,862,77012023.' £3,542,142). The net income for the year after the unrealised revaluation gain wa5 £321,27312023." deficit of £192,086). Total aMlated fttnds at year end were £4,388,04812023." £4,066,775). lfiv8stm•nt Policy The Trust's Investment Pollcy Ss to preserve the capital base in real teim5 whilst prowding a signthcant, 8U3tgin8ble income forthe Trust. The appointed nd manager is CCLA and the funds a Current invested in the Charities Official Investment Fund (the 'Fund"l. The Fund seeks to make 8 real retum of 5010 before expenses and distributes most of its retum in dividends. These dividends are taken as income in the Trust's Income and Expenditure AccOnt and sub%dise the activities of the Avenue Club The Finance Committee re9ularty reviews tre performance of the Fund. The last review of the investment. conduGted in April 2023, showed the Fund had continued to perform and the Trustees agree to maintain the current investment at present. Reserves Pollcy The charty's resetves policy is to hold sUffiCnt fvnds to cover three month5, operating ¢0sts and to provide capital base to generate sustainable income. This is represented by the General Fund. In a¢Jdition, funds have been designated to cover major rep8ir8 to the premises. The Dèvèlopment Fund was established for the building extension comprising the Marwood Roorn. The costs of thls extension are being amorbsed against this fvnd over the fem8iTring life of the léase.
KEW COMMUNITY TRUST FINANCIAL REVIEW YEAR ENDED 31 MARCH 2024 (CONTINUED) Future Plan5 The TtU5tees wll continue to seek lo increase the ch8rttable reach of the Trust wthin area of operation. They ale working with the leadership and staff of the Trust to grow the numbers attending the classes and event5 org8nised by the Avenue CILsb while continutng to grow the incorne from the hire ofthe Trust's Premises. Risk M?nagemgnt The Trustees have reviewed and updated the risk assessment and continue to monitor identified risks and seek appropriate miligalions. The Trustees believe that systems are in place to mitigate the most significant risks. These systems are periodicalty reviewed to ensure that they colltinue to meet the needs ol the charity. Pollcy for Inductlon and Tralning ¢f Tnt$t$è¥ New Trustees are taken through an induction process by the Chaiman or another Trustee. Information lor new Trustee5 is contained in an Induction Pack conlalnlng relevant pollcy documents. Trustees have a¢$$ lo ourses and seminars relevant to their positions and have peer support through regular meetings.
KEW COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KEW COMMUNITY TRUST FOR THEYEAR ENDED 31 MARCH 2024 Opinion We have audited th8 financial staternents of Kew Community Trust for the yèai ènded 31 March 2024 set out on pages 11 to 26 whi¢h comprise the Ststement of Financial A¢tivities. Balance Sheet and the related notes. The fin8n¢i81 reporting framework that has been applied in their preparation is applnable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), illcluding FRS 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. Iunited Kingdom Generally Accèptèd Accounting PractiTrl. In my opinion tke financk31 statements.. give a tru¢ and fair view of the State of the charitable company's affairs as at 31 Mah 2024, and of its incoming reSoUrS and applScation of reSoUrs. including its income and &xpenditure, for the year then ended., have b8en prop8rly prepared in accoidancewth United Kingdom Generalty Accepted Accounting Practice.. and have been pyepaied in accordants with the requlrements of the Companies Act 2006. 8as16 for opinion We conducted our audit in ac¢ord8ncewith Intèmational Standards on Auditing IUKI IISAS IUKII and applicabl& law. Our responsibilities under thosè standards are further described in the Audilo¢s spOnsIbl1rtieS for the audil of the financial statements sectk)n of our reporL We &re independent of the charitable Company in accordance with the ethical requirements that afe relevant to our audli of the financial statement5 In the UK, including the FRC's EthC81 St8ndaid, and we have fuffilled our other ethical responsibilities in accofdance with thèse requirements. We believe tliat the audit evidence we have obtained is scheAt and appropriate to provide a basis for our opinion. Con¢lu$itsns rèlatlng to golng eoncern In audrfting the financial 51alemen15, we have concluded that Ihe trustees, use of the going Con[ basi5 of accounting in the preparation of the financial statements is approprate. Based on the work we havè performed, we have not identified any material uncertainties tel3ting lo events or conditions that, individualty or collectivety, may c8sI svJnificant doubt on the charitable company's ability to continue as a going concem for a period of al least twelve months from when the financial statements are uthorised for Issue. Our iesponsibilities and Ihe responsibilities of the trustees wrth respect lo g)ing concern are described in the relevant sectk)ns of this Teport. other Infomiatlon The trustees are responsibleforthe olherinfomiation. The other inforrnation comprises the information included in the annual report, other than the financial ststements and our auditor's report thereon. Our opinion on the naneial $t8lements does not cover the other information and. except the extent olhetwise explicilty ststed in our report, we do not expre55 any forrH ol assur3nce conclusion thereon
KEW COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT Icontinuedl TO THE MEMBERS OF KEW COMMUNITY TRUST FOR THE YEAR ENDED 31 MARCH 2024 In connection with our audlt of the financial st8t8m8nts. our responsibility is to read the other information and, in doing so. corisider whether th8 Other information is materially inconsistent wrth the flnancial ststements. or our knowledge obtslned in the audit or otherwise appears to be materially misststed. If we idenlfy such material Inconsistencies or apparent tllaleiial misslalemenls, we are required lo determine whether there is a material m1sststement in the finanaal 5taternenls or a material rnisstatement of the other information. If, based on the work we have perfomied, we conclude that there is a material misstatement Of this other informab"on, we are required to rewrt that fact. We have nothing to report in this regard. Opinlons on other matters pr88crlbed by the Companlès Act 2006 In our opinion. based on the work undertaken in the course of our aLKlit.. the information given in the Trustees, Annual Report for the financial year for which the financial statements are prepared is consistent with the finanaal statements., and the Trustees, Report has been prepared ir accordance with appluble legal requirements. Mattets on whlch we ar& rèquir•d to rèport by excèption the light ot the knowledge and understanding of the company and its environrnent obtained in the course of the audit, we have not identified material misstatements in the directors, report included ttin the trustees, report. We have nothing to report in respect of the following matters where the Companies Act 20(6 requires us to report to you if, in our opinion.. adequate accounting record5 have not been kept or return5 adequate for our audit have not been receThied from branches not visited by us," or the finanrial statements are not in agreement vthh the accounting records and returns.. or certain disclosures of Trustees, remuneration speafied by law are not made., or we have not received all the infDrmalion and expL4nalion5 we require for our oudit., Or the Trustees were not entitled to prepare the financial ststements in accordance wilh the small companies, reglme and take advantage of the small companSes' exerry)tlon In preparlng th& Trustees, report. Responslbilltle$ of tN$tè¢s As explained more fully in the trustees, responsibility ststement set out on page 3. the trustees (who are also directors of the charitable company for the purposes of company lawl are responsible lorthe pieparalion gf the financial statements and for being satisfied that they give a true and fair view, and for such internal Control as the trustees determine is necessary to enable the prepaiation of financial stat&menls that 8r¢ flee from material rn1S5talement, whether due to fraud or error. In preparing the finanual statements, the ttU5tees are responsible for assessing the tharitsble company's ability to continue as a going concern, disclosing, as applicable, matters related to going Goncem and using Ihe going concern besis of accounting unless the trustee3 intend to liquidate th¢ Gompany or to Gease operatK)n$. or have no rea5istic alternative but to do so.
KEW COMMUNtrY TRUST INDEPENDENT AUDITOR'S REPORT Icontinued) TO THE MEMBERS OF KEW COMMUNITY TRUST FOR THE YE4R ENDED 31 MARCH 2024 Auditorfs r8sponslbllltle¥ for the audlt of the flnanclal statements Our objectives are to obtain reasonable a$$uran¢e about whether the financial statements as a vjhole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that in¢lvdes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance wtth ISAS IUKI will afvrfays deted a material misstatement when it exists. Misststements Can arise from fraud or error and are considered materL81 if, individualw or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Be¢ause of the inherent limitations of an audit, thère is a risk thal we will not detect all irregularities, including those leading to a material misstat8rnent in the financial statements or non-compliance with regulation. This risk increase5 the mole that compliance wth a law OT regulation is removed from the events and transactions reflected in the financi81 statements, as we will be less likely to become aware of in5t8noes of non-compllance. The risk is also greater regarding irregularities occurring due to fraud rather than erior, as fraud involves Intentional concealment. forgery. collusion. orni55ion or tnisrepTesentation. Irregularitie5, Tncluding fraud, are instances of non-compliance with laws and regulations. We desig PrOdUreS in line vAth our responsibilyties. outlined abov8, to detect material misststements in respect ol irregularities, including fraud. The extellt lo which our prOcedS are capable of detecting irregular¢s. including Iraud. is detailed below. Extent to whl¢h tha audlt was consldered capable of deteding Irragularltles, Includlng fraud. Our approach to identifying and assessing the risks of material misstatement in respe¢l of irregularities, including fraud and non-compliance wlth laws and regulations, was as follows.. the engagement partmer ensur8d that thè angagomont team collectwely had the appropllate competence, pabilitie5 and skills to idena.fy or recognise non-compliance with aPpIable laws and re9ulations', we identified the18ws and regulatlons applicable to the Company thrDugh discussions wrth directors and olher managemént, and from our knowledge and experience of thè sector.. we focused on specrfic laws and iegulations which we considered m8y have a direct material effect on the rinan¢ial ststements or the operations of the company, including the Companies Act 20(. taxation I151allOn and data proledion. anti-bribery, employment and health and safety legislation,. we assessed the extent of compliance wilh the laws and regulations identified above Ihrough making enquiries of management and inspecting leg81 correspondence,. and identified laws and r8gulations were communicated within the audit team Tegularty and the team remalned alert lo insiances of non-Comlan throughout the audit. We assessed the susceptibility of the oompany'5 financial statements to material misstatement, in¢luding obtaining an understanding of how fraud mvJht occur, by.. akin9 enquiries of management as to where they considered there w8s suscèptibility lo fraud, their knowledge of actual, suspected and alleged fraud., and considering the internal controls in place io mitigate risks of fraud and non-complkirtce wilh laws and regu18tion5. To address the rfsk offraud through management bias and OVerre of controls, we." perfoimgd anatytical procedures to identify any unusual or unexpe¢tod relatlonships., tested joum81 entiies to identrfy unusual tran8action8', assessed whether judgement5 and assumptions made in detemiining the a(xounting Èstimates we indicatwe of potential bias." and invesb'gated the rationale behind significant or unusual transactions.
KEW COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT lcontlnued) TO THE MEMBERS OF KEW COMMUNITY TRUST FOR THE YEAR ENDED 31 MARCH 2024 In r98ponse to the risk of irregularities arKI non-compliance with laws and regulations. we designed procedufes which inclu¢Jed. but were not limited to.. agreeing financial statement disc105ures to undertying supporting documentation., ading the minutes of meetlngs of those charged with governance., and enquiring of management as to actual and potential litigation and claims. We communicate with those Gharged with governance garding, among other mattels, the planned scope and timing of the audit and significant audit findings, including any significant deflciencies in intemal ctsntrol that we identfy during our audit. There ao inherent limtstions in our audlt prooedures described above. The more removed that law5 and regulations are from the financial transaGtion5, the less like it is that we would becotne awaie of non-cornpliance. AU0"ng siandarrts also limit Ihe audrt procedures required to identify non-compliance with laws and regulations to enquiry of tha trustees and other managÈm8nt and the inspection of regulatory and legal correspondence. if any. Material misstatemènts that arise due to traud can be harder to detect than those that arise from error as they may invOe deliberate concealmanl or Collusion. A further description of our responslbilities for the audit of the financial statements is located on the Financial Reportlng Counal's wèbsite at.. http.'llvW.frorg.UklaUdtsrresp0nSIbl&It1e5. This description forms part of our auditor's report. Use of our report.. This rsport 18 made 501ely to the charitable Company's members, as a bcxty, in accordance wfth Chapter 3 of Part 16 of the CornpaniesAct 2006. Our audilwork has been undertaken so thatwe might state to the Qhaiitab company's members those matters we are requed to State to them in an auditor's report and for no other purpose. To the lullest extent permitted by law, we do not ac¢ept or a38ume responsibility to anyone otherthan the ¢harfty and the charity's members. for our audtt work. for this report, or for the opinions we have formed. Loo Annle Lee Isenioi Stalulory Auditor) For and on behaw of PK Audit LLP Charted Accountants Statutory Auditors Dated.. 1 Parkshot Rlchmond Surrey TWJ 2RD io
KEW COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 (INCLUDING INCOME AND EXPENDITURE ACCOUNTI Total Funds 2024 Totsl Fuftd5 2023 Unreslri¢t*d Rèstrlcted Funds Fund$ Unrestrletsd Restrlcted Funds Funds Note Incoming ReSoUe$ Donations and legaaes 11,135 741 11,878 10,117 1,657 11,774 Fundraising Charitable activities - Avenue Club - Kew Community Centre 107,514 10,708 118,222 84.963 11,093 98,056 124,911 124,911 114,347 114,347 Investment Incorne 1C6,520 106,528 104,487 104,490 Tolal incom• 350,OBO 361537 313 914 326.667 Expendlture Cost of raising fvnds Cost of charitable actwities 275 275 - Avenue Club Kew Community Centre 228,606 10,712 239.318 227,835 10,179 238,014 10 109,070 29 109,099 124,129 124,214 Govemance cost 13 9,500 9.500 16,575 16,575 Major improvemants 15 2,700 2.700 Total expendlture 360,892 368 539 Net lexpenditurellincome before ILossllGal on Investments Nel ILossllGain on Investment 441 154,6251 1,849 152,7761 17 320,628 320.628 1139,3101 1139,3101 N•1 movement In funds for the year Funds brought lotward 1 Apfil 2023 320,832 441 321,m 1193,9351 1,849 {192,0861 4.061.610 5,165 4,066,775 4,255,545 3,316 4,258,861 Funds carried forward 31 March 2024 4,382,441 6,606 4 388 048 4,061 610 5.165 4 066 775 All income and expendrtUTe derive from continuing actIve$. The staternent Of financial activiti85 includes all gains and losses recognised during the year. li
KEW COMMUNITY TRUST COMPANY REGISTRATION NUMBER: 1736623 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note FIXED ASSETS Tangible Assets 16 408,682 428.021 INVESTMENTS 17 3,862.770 3,542.142 GURRENT ASSETS Deblois Cash at bank 18 45.560 136,397 181.957 53,764 108,323 182,088 Credilor8- arnounts falling due within 1 yoar 19 165,3611 (65.4761 NET CURRENT ASSETS 116,596 96,611 TOTAL NET ASSETS 4 388.048 4.066 775 Repres6ntÈd by.. ACCUMULATED FUNDS Unrestricted funds Geneial fund lindude revaluation reserve of £1,162,770) Development fund Major repairs fLJnd 21 21 21 3,920.241 407.201 55.000 3,582,451 424.159 55.000 4,382,442 4.081,810 Restricted funds Development fund Other funds 20 20 5,606 5,165 5,606 5,165 TOTAL CHARITY FUNDS 4,388.048 4066.775 The notes on pages 13 10 26 form part of these financial statements. These accou 15oltheC Is have been prepared in aCrdance with the provtsbons applicable to Small companies in Part panies act 2006. Approv by the Board of Trustees on . - and signed on its behaK by Williams Truste 12
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng Pollclgs Company Informatfon Kew Community Trust is a charitable company litnited by guarantee. The registered office is St. Luke'5 in The Avenue, Kew, Richmond, Surrey, Twa 2AJ. The principal accounting policies adopted, judgement5 and key 50uios ol estimation uncertainty in the preparatlon of the financial statements are as follows.. al Basis of preparation Thefinancial statements have been prepared in aocoidallcèwith Accounting and Reporting by Ch8rities'. Statement of Recommended Practice applir2ble in the UK and Republic of Ireland IFRS 1021 leffective October 20191- Icharilies SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The financial Statements are prepared in sterfirig whh is the fllnctional currency. Monetary amounts in ttiese financial statements are rounded lo the nea$1 £1 which can resuY( in £1 rounding differences. The fiNan¢i81 stst8ments have been prepared under the historical cost convention, modthed to include certain items at fair value. The Trust meets the definition of a public benefit entity under FRS 102. Assets and IlabS1ities are initially recognised at historical Th)st or tran5actTon value unless otheD18e stated in the relevant accounting policy notes. The Trust has taken advantage of the provisions in the SORP not to piepaie a St8temgntof Cashflows. The Trustees consider Ihat there are no material uncertainties about the Trusys ability to continue as going concem due to the value of the Trust's SerVeS al the year end. bl Income Income is recognised when the charity has entrtlement to the funds. 8ny perftsrmance conditions attached to the rtems ol income have b89n met. it is probable that the income wi15 be received, and the amount can be measuTed rel*b. Donations and sirnilar income are aecounted for when received. For legacies, entitlement ks takell 98 the eadier of the date on whith eitheT'. the ch8rty is aware that probate has been gr8nled. the estate has been finalssed and nolfflcalion has been made by the &xecutors to the Trust that a distribution will be made, or when a distribution is ie¢enfed from the estale. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured relihbly, and the charity has been notifièd of the executor's intention lo make a distribution. Wnere legacies have been notified to Ihe charty. or the ¢h8rity is aware of the granting of probate. and the criteria for ino)me ¢09nItIOn have not been mèt, then the legacy is treated a$ a ¢ontingefil asset aTrd disc105ed if material. Income from grants. whetrer 'r8pital' grants 01 'revenue' grants, Is r8cognised when the Charity has enlillement to thefunds, any perfomiance conditions attached to the grants ttave been met, rt is prob8ble that the income will be received, and the amount can be measu rellably and is nol deferred. 13
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI Government grants are a¢counled for when reNable. Grants are credited lo Ihe Stslemenl of Financial Activities as soon as the conditions of receipt have been satisfied. Charitable Income from Avenue Club activities and Room Hire fees are recognised when the actlvlty or room hire tskes place. Avenue Club membership income is iecognised overlhe membeyship year which funs from 1 May- 30 April. Investment incorne is recognlsett when it IS clue and can be measured reliably. This 15 nomialty when the dividend declaration is rnad8 by the Investment Management company. Income r1ved in advance 15 deferred until th8 criteria for income recognition are met. cl Investments Fixed asset investments are initially measured at transaction price excluding transaction costs and are subseqLJentty stated at their fair value 81 each reporting date. Movements in fair value are re¢ognised in the statement ol Financial Activities. TransaCn costs are expensed as incurred. dl Interest receivable Interest on funds held in bank deposit accounts and the COIF charities deposil accounts are included when receivable and the amount can be measured reliably ty the charity., this is normally upon nolilcallon of the Inte$1 pald or payable by the bank. el Fund accounting Unre5tried furTrds are available to spend on aclNities that further any of the purposes of the charity. Designated funds ale uniesliiGted funds of the charty which the Trustees have decided at their discretion to set aside to use for a specrfic purpose. Restricted fijnds are donations which the donor has specif5ed are lo be solely used for particular areas of the Trust's work and, therefore, comprise of funds with external restrictions. Restricted grants and donations towards the costs of running the Avenue Club and its acte8 from AGE UK and other tsles shown in these financial statements are restricted iTrcome of the Avenue Club. The major repair fund represents fund5 set aside by the Trust for futLtre maintenan¢è. n Expenditure and Irrecoverable VAT Expenditure is recognised onTr there is a legal or constructive obligatKJn to make a payment lo B third party, it is probable that settlement will be required, and the amount of the obligation can tje measured reliably. Expenditure is classilied under the following activity headings.. Costs of raising funds comprise various costs ol fundralsing and thoir associ8t8d supp(Yt c¢)sts Expendituie on charrtable actiVEties 1clUdeS IheAvenue Clttb costs and Kew Community Cenlre costs to further the purposes of the charity and thelr assoclated support costs. other expeThdilure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activrty lor which the expenditure wa5 incurred. 14
KEW COMMUNITY TRUST NOTES ON THE FINANCSAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUED) gl Employee beneffts The costs of short-term employee benefrts are iecogllised as a liabllity and an expense. The cost of ary unused holiday entement is recogni5ed In the period in whh the employee's services are Teceived. Termination benefrts alè 18cognised immediately as an expense. h) AllocatSon of support costs Support costs ale those functions that assist the worfr of the chaThty but do not directty undertake eharitable actiwties. Support costs indude back-offioe Gosts, finance, personnel and c0518 which supptsn the Trust's aclivilies. These Gosls have been allocated behveen cost of iaising funds and expenditure on charitable activities. The bases on which support costs have been alk)cated are set out In notes 11 and 12. 11 Tangible fixed assets Individual fixed assets costing £500 or more are capitalised at cost and are subsequenuy measured at cost or valuation. net of depreciab.on and any impaifment losses. They are depreaated tsver their estimated useful economi¢ Inies on a stiaight-line basis as follows.. Asset category Leasehold itnprovements Fumiture and equipment Annual rate str8ight line over the life of the lease 20% straight line Al each reporting date, the Tru81 review$ the Carrying amounts of ils tangible assets lo determine whether there is any indication that those as$8ts hav8 suffèrgd impairment loss. If any SLtch indication exists, the recoverable amount of the as3et is estimated in order to determsne the extent of the itnpaimienl. The gain or108$ arising on the disposal of an asset is determined as the difforence between the sale proce8ds and the carrying value of the asset and is recognised in the StaterrÉnt of Financial Activities. jl Debtors Trade and other debtors are recogni$*d at the setuement amount due after any trade disf>)unt offeigd. Prepayments are valued al thè amount prepaid net of any trade discounts due. kl Cash at bank and In hand Cash at bank and cash in hand includés cash and short tenn highly liquid investments with a maturity date of three rnonlhs or less from the dale of aCq¥ltIOn or opening of the deposit or similar account. Creditors and provisions Credit015 and piovisions ale recognised where the charty has 8 present obligation resuV(ing from a past event that will probably re5utt in the transfer of funds to a third party and the amount du8 to settle tho oblig81ion can be measured or estimated reliably. Creditors and provisions are norm81ty recognlsed at their settlement amoullt 8tter 8llowing for any trade dkscounts due. 15
KEW COMMUNITY TRUST NOTES ON THE FINANCEAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) ml Finanaal instruments The Trust onty has finallcial assets and finanaal liabilit*s of a kind that qualify as basic financial instruments. Basic ffinancial instruments are initialty recognised at trans8Ction value and subsequently measured at their Settlement yalue. The Trust has elected to apply the provisions of sertion 11, Basic Financial Instruments. and section 12. Other Financial Instrument Issues. of FRS12 to all rts financk71 instruments. Financial instruments are recognised in the balance sheet when the Trust becornes p8rty lo the piovisions Df the instrument. Financial assets and liabilities are offset. with the nel amounts presented in the flnaD¢ial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to setue on a net basis orto realise the asset and settle the liability simuttaneousty. Oebtors End creditors Vth no stated interest rate an(5 re¢&ivable or payable within on8yeara recorded at transaction price. Any losses arising from 1mpairffnt are reco9nised in expenditure. n) Pensions The TTUSt operates a defined contribution pension scheme operaled by Scottish Vlfidows. The pension charge in the Statement of Financi81 Activth"es represents the amount pay8ble by the Tusl to the fund in respect of the year. tsl Taxation The Trust is exempt from corporation tax rts charitable activities. Legal status of the TNst Kew Communty Trust is a compary limited by guarantee and a¢cordingty does not have a share capit81. In accordance with the Articles of Association, each member of the company undertakes to conliibulo an amount, rol ex¢e8ding £3 each to the assets oflhe ch8rit8ble company in the event of rt being wound 16
KEW COMMUNrrY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI Donation6 and legacies Totsl 2024 Total 2023 Unrestrlcted RÈstkleted Urtrestrieted Rgstrietèd Individuals, incjuding tax recovery 10.135 651 10.786 10,117 1,657 11,774 Kew Churches 90 90 Lèg8eiè$ 1,000 1,000 11,135 741 11,876 10.117 1.657 11.774 Fundralsing Total 2024 Total 2023 Unrestricted Restrlcted Unrestrlcted Restrlcted Fundr8i5ing activities 17
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED} Income from charitable activitie5 Total 2024 Totsl 2023 Unrostrict•d Restricted Unr05tricted Restrictsd Avwue Club Grants.. -AGEUK 10.584 10.$84 10.093 10.093 - LBRUT Grant Transport and carer day grants & donations Avenue Club.. Sale of lunches and snacks 125 125 1.000 1,000 5,488 5.488 4,162 4,162 Activities 83,520 83.520 64,3Y9 84.399 Outings 673 673 embers, subscrfptlons Donations and Fundraising.. 11,306 11,306 10.305 10,305 Bring and Buy Members, donab.ons 1,247 1,247 1,207 1,207 5,021 5,021 3,235 3,235 Other fundraising 783 783 982 982 107514 10709 118222 11093 96,056 Incom& from charltsbl& activities Total 2024 Totsl 2023 Unrestricted Restrlcted Unrestricted Restrlcted Kew Communlty Centre Grant.. LBRUT Govemment Gr8nis- CJRS Contributitsn from St Luke's pcc 3,835 3,835 2,704 2,704 Hiring fees 120,287 120,287 110,838 110,838 Deposits withheld 400 400 405 405 Members, subscriptions 390 390 400 400 124911 124911 18
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 {CONTINUEDI Total 2024 Unrestricted Restsicted Total 2023 Invèstmènt Incomè Unrestrlct•d Rostrlcted Interest Income 3,129 3,137 1,493 1,496 Dbvidend Income 103.391 103391 102.994 106 520 8 106 $28 104487 104 Total 2024 Unrestricted R•strlct¢d Total 2023 Cost of ralslng funds Unrostrletèd Rèstrfcted Fundraising costs 275 275 640 640 275 275 640 640 Total 2024 Unr•strlcted Restrfcted Totsl 2023 Avenue Club ¢08ts Unrèstrlcted Restrtcted Salarie5 and wages 44,386 10,584 54,969 35,221 10,093 45,315 Food 6,355 6,355 4,393 4,393 ALtivM'es 85,577 125 65,702 61.440 61,440 Outings 279 279 294 294 (Xh6r 4.or14 4.004 3.567 3,667 Fundraising Transport costs Carer costs 200 200 120,601 10,709 131,310 105,115 10,093 145,209 Share of premises costs 55,814 55.818 55,028 85 55,113 Share of Sdrninistration costs1111 52,19) 228,605 10712 239.318 227.835 10 179 238014 19
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 10 Kew Communlty C*ntr• costs Total 2024 Total 2023 Unrestrlctod R•strf¢t8d Unrestrlctod Rostilctèd Advertising & publicity 25 1,091 1.409 1,409 Share of pmiseS ¢osts1121 Share of administration costs 55,814 55,818 55,028 85 55.113 52,190 87,692 67.692 109 070 29 109.099 124,129 85 124,214 Totsl 2024 UnrestrScted Restrlcted Total 2023 11 Admlnlstratlv8 Exp$05 Unrnstrlctod R8strfct8d Salarie5- Centre m8nagement 91,8( 91.806 122,513 122,513 PayToII Processing 732 732 591 591 Insurance 3.408 3,408 3,190 3.190 Licence fees 881 691 691 Stslionery, prinlin9,P05t89g, IT 3,819 3.819 5,097 5,097 Telephone 2,890 2,890 1,896 1,896 Training 154 185 185 Miscellaneous 308 VAT disallowed 454 454 454 Bank charges 127 127 124 124 104,380 104.380 135,383 135.383 Support costs.. Allocated to Centre 50°/0 Allocated to Avenue Club 50% 152.1901 152,1901 167,6921 167,6921 20
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI Total 2024 Total 2023 12 Pr8mi8es Costs Unre8trlcted Rè$trl¢ted Unrèstrlct•d Restricted Salaries- Cleaning and Caretaking Cleaning materSals 45,187 45,187 42,647 41647 4.775 4,775 6,723 6,723 Depreciation of fumiture and equipment Depre¢ialion of leasehold Improvements 2,373 2,373 5,199 5,199 18,958 16,966 11,479 171 11,650 Heal and light 19,658 19,658 13,636 13,636 Insurance 6,335 6,335 6,041 6,041 Repalrs and malntananea 14,553 14,553 23,091 23,091 Water rates 1,787 1,240 111,628 8 111,636 110,055 171 110.226 Support costs.. located to Gentre 50% Allocated to Avenue Club 50¥0 155.8141 14} {55,8181 155,0281 1851 155.1131 85 Total 2024 Total 2023 13 GoveTnance costs Unrestrlctsd Rgstrl¢tod Unrestrlcted Restrlctgd Audit fe8 9,500 9,500 6.500 6.500 Legal and professlonal fee5 9,500 9,600 16.575 16.575 21
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI 14 Wage5 and Salaries Avera9e number of employees 2024 2023 2024 2023 Avenue Club Centre Managerrent Cleaning and Caretaking 54,S*9 91,806 45.187 191963 45.315 122,513 210 475 Salaries and Wages Naliofjal Insurance Pension Scheme 179.756 8,fj19 3,587 191,963 197.091 10.4103 2.981 210,475 No èmployees Tecewed remuneration or beneffts in excess of £60.000 for the year, nor for the previous year. 15 Major Improv•m•nts 2024 2023 Unrestricted Unrestricted Main Hall refurblshment 2,700 2.700 Short Lea50hold Premlses Furniturg and Equipment Tanglble Assets Cost As al 1 Aprd 2023 Additions ScT3pped Total 16 798,914 79,648 878,581 798 914 79,648 878 561 A¢cumulatsd Oepreciatlon As at 1 April 2023 Charge for the yeai Scrapped 374.758 16.966 75,782 2.373 450.540 19.339 469 879 Not l)ook valLt• As at 31 March 2024 As at 31 Marth 2023 40T 189 424,156 408 682 428,021 3,866 22
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI 17 Investments 2024 2023 Valuallon As al 1 April 2023 Appreciation in value 3,542,142 320 628 3.681,453 139,310 As al 31 March 2024 770 3 542 142 Th8 charity held 189,049.37 units in CCLA'S Gharities Investment Fund Income Llnits at 31 March 2024 12023-. 189,049.371 which are stated 3t fair value. Original cost of investment.. £2.700.000 18 DebtOF5.' amounts falllng du& within one year 2024 2023 Rent ree8ivable 7,163 38.397 17,104 Prepayment and sundry debtors 45,560 19 Creditor5.' amounts falling due within onè yèar 2024 2023 Trade creditors 6,215 13,145 Accruals 22.725 15,766 Sundry Credltor8 and Deposits received in advance Members, subsciiption5 received in advanc Rents and other income recewed in advance 14.706 10.276 941 835 13,447 3,584 15,472 Payrdl taxes & penslon Vat payable 3,442 3.7 6,541 65,361 23
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI 20 Restrlcted funds The chaiity's restricted fijnds comprise the following ana movements In the funds are shown below.. Kew Community Centre Development Fund The Developmgnl Fund iecewes grants for the development of the building al St Luke's in the Avenue. K•w Community Centre Ggneral Fund The General Fund r8ceives grants to fund the charitable activities of the Trust. Avenue Club Restrlcted Fund The Avenue Club receives grants in order to provlde services for local resldents. particularty the eklety. Income for haritable Aetivitl•9 Cost of Charitable Inv•stm•nts Expèndlturo Balance at 31 March 2024 881ance at 1 April 2023 Kew Communty Centre Dev81opm•nt Fund 181 Gene[81 Fund 4,165 741 12751 4,631 Avenue Club 1,000 10,709 975 5,165 Incomè for thatable Activities Cost of Charltable Investments Expendlture Balance at 31 March 2023 Balanea at 1 April 2022 Kew Community Centre Development Fund 168 General Fund 3,148 1,657 16401 4,165 Avenue Club 11093 10,093 1,000 12,750 10.904 5,165 24
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 {CONTINUEDI 21 Accumulated Funds The Development Fund comprises bequests and other amounts re¢sived whl¢h the Truslegs albcaled to the building of the Marwood Room extension. The annual depreGiation ol this leasehold improvement will be charged against this fund once the Restricted Development Fullds are fulty utilised. The Major Rep81rs Fund represents lynds set aside by the Trust for future significanl malntenan¢e projects. Unr8strict8d Funds Major RepalTS Fund General Fund Development Fund Restrlcted Funds Totsl As at 1 April 2Q23 3,582,451 55,000 424,159 4,061,610 5,165 Surplu$llLo$sl for the year 337,79) 16,958 320,832 442 As at 31 March 2024 3 920 241 4 382.442 Unrestrlcted Funds Major Repairs Fund General Fund Developmènt Fund R•strict•d Fund$ Total As at 1 April 2022 SurpEusllLossl for the year 3,764,908 182,45 55,000 435.838 11,479 4,255,546 193,935 3,316 1,849 As at 31 March 2023 3,582.451 55,000 424,159 4,061,610 5,165 25
KEW COMMUNITY TRUST NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTSNUED} Analysts of Net Assets be0 Funds Unrestrlcted Restrtcted Total Unrestr5cted Restrfcted Total 2024 2024 2024 2023 2023 2023 Fund balances al 31 March are represented by.. Tangible assets 408,682 408,682 428,022 428,022 Investments Current assots 1 3,862,770 3,862,770 3,542,142 0 3,542,142 116596 4,382,442 5,606 4 388 048 4(1 610 5 165 4066775 23 Trustees, Rèmuneratlon and Benellts No Trustees received remuneration, benefiis or expenses for the year, nor forlhe previous ye81. Related paFty transactlon8 Trustèès and their Close famlly members made donations totalling £560 in the year12023.. £8901. 25 Post Balance Sheet Events There are no post balance sheet events of signfficance. 26