Charity number.. 300523 CAMBORNE COMMUNITY CENTRE UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ? Bishop Fleming
CAMBORNE COMMUNITY CENTRE CONTENTS Page Reference and Administrative Detsil$ of the Charity, its Trustees and Advisers Trustees. Roport Independent Examiner's Report statement of Financial Activities 8alance Sheet Notes to the Financial Statements 8-22
CAMBORNE COMMUNITY CENTRE REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trustees Cllr V Dalley, Vice Chair Mrs D Butler, Secretary Mrs T Harvey Mrs R J Charman, Chair Mrs P Coumbe Mrs L Glynne-Rule Mr F Colman lappoinled 20 January 20221 Mr R Bennett lappointed 22 June 20221 Charlty reglstered number 300523 Prlnclpal offlce Camborne Community Centre South Terrace Camborne Cornwall TR14 8SU Accountants Bishop Fleming LLP Chartered Accountants Chy Nyverow Newham Road Truro Cornwall TR12DP 8ankers Lloyds Bank Market Square Camborne Cornwall TR14 8JT Sollcltors Walters and Barbary 18 Bssset Road Camborne Cornwall TR14 8SG Page 1
CAMBORNE COMMUNITY CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2021 10 31 March 2022. Objectives and activities a. Policies and objectives Camborne Community Centre is a charitable association established by a constitution dated 13th November 1937 following the gift lo the town of the building in South Terra, Camborne. This action was confirmed in a deed dated 28th January 1948 which forms the governing document of the Charity and details of such are lodged with the Charity Commission. The objects of the Charity are to encourage and promote mental, cultural, and physical development and recreation for the inhabitants of Camborne and ils immediate area. It provides meeting spaces and facilities for a wide variety of activities. The Trustees have given careful consideration to the Charity Commission's general guidan on public benefit when setting the objectives of the Charity. Achievements and performance a. Review of activities, progress and achievement The community centre continues to attract new users and is a vibrant hive of activity for Camborne and surrounding villages. The nel financial result of the yearfs activities is a surplus of £180,760 and details of the results of each funding stream can be found in the notes to the accounts. (These include a monetary value for the depreciation for the Charity's fixed assets of £17,001). The Charity's total reserves at the year end were £756,620 of which £700,556 is derived from fixed assets. b. Fundraising activities and income generation Camborne Community Centre and the Donald Thomas Centre provide a wide range of rooms and spaces lo hirellease lo a broad range of community groups including Girf Guides, Cambome Town Band, Citizens Advice Cornwall and Alcoholics Anonymous. Occupancy rates continue to be satisfactorily high. c. Going concem The Trustees have made appropriate enquiries and continue lo be confident that the Charity has adequate resources lo operate successfully for the foreseeable future. The Charity secured funding in year to begin a refurbishment project at the Community Centre. The Trustees believe the the refurbishment project will help increase demand for lettings and thus increase the Charity's revenue. Page 2
CAMBORNE COMMUNITY CENTRE TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Achievements and performance (CONTINUED} d. Reserves policy The Charity does not have a formal reserves policy, bul does have reserves in restricted funds totalling £641,339 bul most of this sum relates lo the value of properties owned by the Charity and is also reflected in the light of historic claw-back clauses in grants made lo the Charity for capital projects. The Charity has unrestricted funds of £115,281 at the year end. The total sum of cash reserves within the reslricled funds is £29,734 representing £28,493 owned by the Charity as the result of a previous sale of property Iknown as the Tea Treat Field) which may only be spent with the consent of the Charity Commission and £1,241 of cash which is restricted lo the refurbishment project. structure, governance and management a. Constitution The Charity is controlled by ils governing document, a Deed Of Trust, and is an unincorporated Charity. A Deed dated 28th January 1948 confirms the authenticity and intention of the original documentation and taken together, these documents are the 'controlling document, which is held by the Charity Commission. A minor administrative change was approved al the AGM on 9th December 2013 (approved by the Charity Commissioners 27th March 2014 under s280 Charities Act 20111 enabling the minimum number of Trustees lo be 7 and the maximum 15. b. Methods of appointment or election of Trustees Management of the Charity is the responsibility of the Trustees as elected or co-opted under the terms of the Trust Deed. c. New trustees The Charity is continually looking for new Trustees to join the board bul have found it quite difficult lo allracl new members. We are, however, planning to seek new membership among the client groups using the community cenlre. d. Organisational structure and decision making The Charity is administered by a management committee consisting of Chair, VI Chair, Secretary and Treasurer, bul on most occasions Ihroughpul the year, all Trustees allended the regular monthly meetings. Day lo day administration is carried out by a paid adminislralor who is responsible for bookings and overall management of the premises in accordance with the policies of the management committee. The administrator attends the monthly meetings where any issues are aired and in the event of an emeryency the chair is the first port of call. The Charity also employs a part-time cleaner who makes sure that all rooms are in good order for the bookings and helps with setting up the rooms for specific client needs. Page 3
CAAIBQRNE COMMUNITY CENTRE TRLISTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 I1Cm 2022 StruGtur•tr 9overnano• and manag•m•nt ICOfrThlNUÉD) o. Risk manag•mgnt 11 1$ the duty of the Trustees to identify and k88p under review risks vthich might affect the Charity and to ensu appropriate controL8 are in pkn indudirYJ against frdLtd and eThor. Throughout the pen(Kl the Trustees have 8OU9ht lo idcntfy those ri¥kE at)d to put By%t•ms in plac8 whlth mitMJ8tA aoainst @XPDsure to sh problern5. f. 0r10n finan¢ial contn SFC and Book-k8eTN'ng Services {Susan Fleet-chapmanl o)ntinues to wovide the TTUStees wlth regular infomatbn and updates on the day to day finanual operations of the Charity. ToJether wth the administrator, SFC operate5 a Sy5tetn of ¢Axiift)I, o¥£ro¢Eing PayTnents and involun9 10 oll dcbtors and ernditors r&gulgting 811 d8bt rnanagement measuT&S. Tlie Charity has no hiatorical debla. STATEMENT OF TRUSTEES. RESPONSIBILMES The Trustses ars responsibk for prep3¥tng the Tru8198s' RewKt and the finanual statements in accordance wtth applicatle law arKt United Kingdom Aub.g Standards (Unrted Kingd(Mn Generamy Accepted AcLounting Prath"c). The law appIat to charities in Ergland & Wales requires the Trustees to prepa financial stalemenls for each finanoal whth give a tru8 and faw of thg State of affairs of ihe Charity of its incoming fesourc85 a1 apFAicaknn of resoUrS. iTKJuding its inco and eXndItuTe, for that peritml. In prepanr¥J these linancial 8tstents. Trustees are requireLt to.. S8cl suilaNe accouniing policies 8nd then apY them con$istènly. obsèrve the methtxls ar principles of the Charities SORP IFRS 1021" make judgments an¢J acuJuntrNJ eslimales that are reason8tAe and prudent,. stale wh8thar applicable UK A¢UntIng Slandafds IFRS 1021 have been followed, subjg¢tto any malèrtral departures dOSed ar¥J explained in th& financial statements: prepare the financial slaternents on the goin9 concem basis unless rt is inapproprfjate to presumè that Ihe Charity will wntinue in business. The Trustees a reSpoTr%e for keepiTh3 adequate accounting re¢tyds thal are sufficient to 3lxiw and exrdain the Charitys transactions dis(aos8 wilh Tgasonable a(xxJracy at any lime the financtal position of th8 Charity aj enable them to anSu thal the financial statements cK)mply with the Ch8riti8s Act 2011, the Chanty (Accounts and Reports) Regulatlons 2008 and Ihe provisions of the Twst deed. They are also reswnSIb lor safeguarding the assets of the Chanty and hence fortsking TeascThgble steps lor the prevention detection of fraLwJ and other irrewlaribes. Apwoved by order of the nnbel5 of Ihe board of Trustses and signed tsn tt*ir behalF by. e_j Mrs R J Chamian Ichair ol Trustees) Date.. 31, 1.XoL3 Page 4
CAMBORNE COMMUNITY CENTRE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022 Independent Examiner's Report to the Trustees of Camborne Community Centre {'the Charity'l I report lo the charity Trustees on my examination of the accoLJnts of the Charity for the year ended 31 Marth 2022. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe 2011 ACVI. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have ft)Ilowed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement Since the Charity's gross income exeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accounlanls in England and Wales, which is one of the listed bodies. Your attention is drawn lo the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepLJblic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities". Statement of Recommended Practice issued on 1 April 2005 which is referred to in the exlanl regulations bul has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act,. or the accounts do not accord with those records., or the accounts do not comply with the appIlble requirements conMIng the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf 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 understsnding of the accounts to be reached. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stsle to the Charity's Trustees those mallers l am required lo slate to them in an Independent Examiner's Report and for no other purpose. To the fullest exlenl permitted by law, I do not acp1 or assume responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. A Oliver Blshop Flemlng LLP Chartered Accountsnts Chy Nyverow Newham Road Truro Comwall TR12DP Dated.. 31 January 2023 Page 5
CAMBORNE COMMUNITY CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted funds 2022 Restricted fund$ 2022 Total fund$ 2022 Total funds 2021 Note INCOME FROM: Donations and legacies Charitable activitie$ Investments 22,308 54,732 234,356 256,664 54,732 52,441 21,761 39 TOTAL INCOME 77,042 234,356 311,398 74,241 EXPENDITURE ON: Charitable activities other expenditure 73,926 3.164 53,257 127,183 3.164 84,626 1,692 TOTAL EXPENDITURE 77,090 53,257 130,347 86,318 Nel Ilossesllgains on investments 12911 12911 1,236 NET MOVEMENT IN FUNDS 1481 180,808 180,760 110,8411 RECONCILIATION OF FUNDS: Total funds brought forward Nel movement in funds 115,329 1481 460,531 180.808 575,860 180.760 586,701 110,8411 TOTAL FUNDS CARRIED FORWARD 115,281 641,339 756,620 575,860 The Statement of Financial Activities includes all gains and losses recognised In the year. The notes on pages 8 10 22 form part of these financial statements. Page 6
CAMBORNE COMMUNITY CENTRE BALANCE SHEET AS AT 31 MARCH 2022 1022 2021 FIXED ASSErs Tangible assets Investments 700.556 26.494 548,379 26,784 727,0 575,163 CURAÉKf ASS$ Debtors Invp.strnent5 10 55,830 2,000 10.210 4,624 2,000 25,513 Cash at bank and In hand 68,040 32,137 Creditors: amwnts faltirwj dlte wilhin one year 12 {31A87) 122.4451 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT UABIUTIES 36.153 763,203 584.855 CradiloTS.' amounis falling dua after more than one year {6.5831 18.YY51 TOTAL NET ASSErs 756,620 575,860 CHARITY FUNtYs Restricted fun(s Unrestricted funds 14 641,339 460.531 General fvnds 14 115281 115.329 Total unresth.cted fijnds 14 115,2ei 115,329 TOTAL FUNDS 756,620 575,860 The finanryol statements were approved and 8Uthorised for Issue by the Trustees and signJ on thelr behalf by.. Mrs R J Chammn Ichair of Trustees) Date-. The noles on pagès 8 to 22 fom p&1 of thesè financial stst8m8nts. Page 7
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 GENERAL INFORMATION Cambome Community Centre is a Charity in England. The address of the registered office is given in the charity information on page 3 of these financial statements. The nature of the Charity's operations and principal activities are lo encourage and promote mental. cultural and physical development and recreation for the inhabitants of Cambome and its immediate vicinity. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practi effective from 1 April 2005 which has Sin been withdrawn. Camborne Community Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise ststed in the relevant accounts'ng policy. 2.2 GOING CONCERN The financial statements have been prepared on a going concern basis. Al the year end, the statement of financial activities Ipage 61 showed a surplus for the year of £180,760 12021." deficit of £10,841) The Trustees are mindful that the surplus reflects the income reiVed in year relating lo the propety refurbishment grant. Trustees are also monitoring the cashflow forecasts of the Charity very closely and taking action as required. Thus Trustees continue lo adopt the going concern basis of accounting. Page 8
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES (Continued) 2.3 INCOME All income is recognised once the Charity has entillemenl to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, entitlement is tsken as the eadier of the dale on which either.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the execulorlsl lo the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part. is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified lo the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met. the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, the general volunteer time is not recognised and refer lo the Trustees, report for more information about their conlribLJlion. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing lo pay lo obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. 2.4 EXPENDITURE Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, induding support costs inVoed in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity- Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resoLJrces. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on direcUy undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 GOVERNMENT GRANTS Govemmenl revenue grants are credited to the Statement of Financial Activities as the related expenditure is incurred. Page 9
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES (Continued) 2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incLJrred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Assets in the course of construction are included al costs incurred to date. Depreciation on these assets is not charged until they are brought into use. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying valLJe of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial aclivilies. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following bases.. Freehold property Plant and machinery Fixtures and fillings Office equipment 1 OOA on cost and 20A on cost 5 years straight line 100/0 reducing balance 3 years straight line 2.7 INVESTMENTS Fixed asset investments are a form of financial instrument and are inilialty recognised al their transaction cost and SLJbsequenlly measured at fair value at the Balance Sheet dale, unless the value cannot be measured reliably in which case it is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on investments, in the Statement of Financial Activities. Investments held as fixed assets are shown al cost less provision for impairment. 2.8 INTEREST RECEIVABLE Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.9 CASH AT BANK AND IN HAND Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. Page 10
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES (Continued) 2.10 LIABILITIES AND PROVISIONS Liabilities are recognised when there is an obligation at the Balan Sheet date as a result of a past event. it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay lo settle the debt or the amount it has reTrived as adVand payments for the goods or services it musl provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cosL 2.11 FINANCIAL INSTRUMENTS The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 FUND ACCOUNTING General funds are unreslricled funds which are available for use at the dIsCtiOn of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page11
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 INCOME FROM DONATIONS AND LEGACIES Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Donations Grants Government grants 424 424 550 234,356 234.906 21,334 21,334 22,308 234,356 256,664 Government grant funding received relate lo business support grants as a result of COVID-19. Unrestricted fvnds 2021 Reslricled funds 2021 Total funds 2021 Donations Grants Government grants 1,995 4,892 34,251 1,995 4,892 45,554 11,303 41,138 11,303 52,441 INCOME FROM CHARITABLE ACTIVITIES Unrestricted funds 2022 Total funds 2022 Community Centre Hall Hire 54,732 54.732 Unreslricled funds 2021 Total funds 2021 Community Centre Hall Hire 21,761 21,761 Page 12
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ANALYSIS OF EXPENDITURE BY ACTIVITY Activities undertaken directly 2022 Support costs 2022 Total funds 2022 Community Centre Hall Hire 38,342 88,841 127.183 Activities undertaken directly 2021 Support eosts 2021 Total funds 2021 Community Centre Hall Hire 33,854 50,772 84,626 Anatysis of support eosts Total funds 2022 Total funds 2021 Depreciation Refurbishment costs 2,394 38.650 3,425 4,736 15,003 1.308 743 1,624 1,304 290 10,443 1,282 10,176 916 Rent and water Insurance 4,142 10,386 2,034 303 577 Heat and light Telephone Postage and stationery Sundries Cleaning Bank charges Repairs and maintenan Subscriptions Accountancy fees Bookkeeping fees 678 133 12,568 2,160 5,417 4.233 88,841 50,772 Page 13
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 INDEPENDENT EXAMINER'S REMUNERATION The independent ex8mine¢s remuneration amounts to an independent examiner fee of £3,13512021 £2,850). STAFF COSTS 2022 2021 Wages and salaries 23,318 19,324 The average number of persons employed by the Charity during the year was as follows.. 2022 No. 2021 No. No employee reiVed remuneration amounting lo more than £60,000 in either year. During the year, no Trustees reiVed any remuneration12021.' £NILI During the year, no Trustees reiVed any benefits In kind12021.' £NILI During the year, no Trustees reiVed any reimbursement of expenses12021.' £NILI Page 14
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CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FIXED ASSET INVESTMENTS other fixed asset investments COST OR VALUATION At 1 April 2021 Revaluats'ons 26,784 12901 At 31 March 2022 26,494 NET BOOK VALUE At 31 March 2022 26,494 AT31 MARCH 2021 26,784 All the fixed asset investments are held in the UK. 10. DEBTORS 2022 2021 DUE WITHIN ONE YEAR Trade debtors other debtors 3,461 1.678 46.135 4,556 1,305 Prepayments and accrued income VAT recoverable 3,319 55,830 4,624 11. CURRENT ASSET INVESTMENTS 2022 2021 Unlisted investments 2,000 2,000 Page 16
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Bank loans Trade creditors Other laxalion and social security other creditors Accruals and deferred income 2,250 15,381 90 1,005 17,342 28 4,061 14,166 31,887 22,445 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2022 2021 Bank loans 6.583 8,995 Included within the above are amounts falling due as follows.. 2022 2021 BETWEEN ONE AND TWO YEARS Bank loans 2,159 2,049 BETWEEN TWO AND FIVE YEARS Bank loans 4,424 6,946 The loan relates to £10,000 provided to the Charity under the govemmenl's COVID-19 Boun Back Loan Scheme. Page 17
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. STATEMENT OF FUNDS Statement of funds - current year Balance at 31 March 2022 Balance at 1 April 2021 Gainsl (Lossesl Income Expenditure UNRESTRICTED FUNDS General Funds - all fvnds 115,329 77,042 77,0901 115,281 RESTRICTED FUNDS Tea Treat Field Sale SITA grant THI grant Bemard Sunley Other fehOld improvement funds Refurbishment of South Terrace 28,784 25,800 99,139 2,580 {291} 28,493 25,145 96,635 2,515 16551 12.5041 1651 23,809 13511 23,458 280,419 234,356 49,6821 465,093 460,531 234.356 153.2571 {291} 641,339 TOTAL OF FUNDS 575,860 311,398 {130,3471 {291} 756,620 Page 18
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. ststement of funds Icontinuedl Statement of funds - prior year Balance at 31 March 2021 Balance at 1 April 2020 Gainsl (Losses) Income Expenditure UNRESTRICTED FUNDS General Funds 112,876 62,938 160,4851 115,329 RESTRICTED FUNDS Tea Treat Field Sale SITA grant THI grant Bemard Sunley Other freehold improvement funds Refurbishment of South Terrace I Will Fund 27,548 26,400 101,434 2,640 1,236 28,784 25,800 99,139 2,580 16001 12,2951 1601 24,352 15431 23,809 291,451 111,0321 111,3031 280,419 11,303 473,825 11,303 125,8331 1,236 460,531 Balance at 31 March 2021 Balance at 1 April 2020 Gainsl (Losses) Income Expenditure TOTAL OF FUNDS 586,701 74,241 186,3181 1,236 575,860 Page 19
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. ststement of funds Icontinuedl Restricted funds Coronavirus Job Retention Scheme- This represents funding received from the government in respect of the Coronavirus Job Retention Scheme. Tea Treat field sale -This represents the funds received from the sale of donated land, which can only be used for projects with the Charity Commission's approval. The SITA, THI, Bernard Sunley and other grants represent funds received in 2015 towards the renovation of the freehold propety- These fLJnds have been fully spent in 2015 and the expenditure capitalised. The balances on these funds will reduce in line with depreciation year on year. Refurbishment of South Terrace The Charity accepted a grant in 2003 of £228,617, which increased lo £271,909 in 2004. from The Comwall Regeneration Fund for the refurbishment of South Terrace. Comwall CoLJncil, as successors to Kerrier District Council, have a legal charge over the propety for 25 years from the 2nd of September 2002. If the propety is disposed of in that period then the grant may be repayable. The Charity received a grant during 2004 of £150.000 from the Home offi in partnership with the Kerrier District Citizens Advice Bureau for the refurbishment of South Terrace. If certain conditions are not mel the grant may be repayable. The Charity received a grant during 2003 and 2004 of £97,288 from the Kerrier Neighbourhood Renewal Fund for the refurbishment of South Terrace. If the terms and conditions of the offer document are not met the grant may be repayable. The Charity received funding towards the Refurbishment of the South Terrace from Cornwall Council lotalling £234,356. Page 20
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 15. SUMMARY OF FUNDS Summary offunds- current year Balance at 31 March 2022 Balance at 1 April 2021 Gainsl (Lossesl Income Expenditure General funds Reslricled funds 115,329 460,531 77.042 234,356 177.0901 153,2571 115,281 641,339 {291} 575.860 311.398 {130.3471 {291} 756.620 Summary offunds- prlor year Balance at 31 March 2021 Balance at 1 April 2020 Gainsl (Losses) Income Expenditure General funds Reslricled funds 112,876 473,825 62,938 11,303 160,4851 125,8331 115,329 460,531 1,236 586,701 74,241 186,3181 1,236 575,860 ANALYSIS OF NET ASSETS BETWEEN FUNDS Analysis of net assets between funds - current year Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year 121,410 579,146 26,494 45,525 19,8261 700,556 26,494 68,040 31,8871 16.5831 22,515 122,0611 16,5831 TOTAL 115,281 641,339 756,620 Page 21
CAMBORNE COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS Icontinuedl Anatysis of net assets between funds - prior year Unrestricted funds 2021 Reslricled funds 2021 Total funds 2021 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year 116,632 431,747 26,784 2,000 548,379 26,784 32,137 122,4451 18,9951 30,137 122,4451 18,9951 TOTAL 115,329 460,531 575,860 17. CAPITAL COMMITMENTS 2022 2021 CONTRACTED FOR BUT NOT PROVIDED IN THESE FINANCIAL STATEMENTS Acquisition of tangible fixed assets 33,321 18. RELATED PARTY TRANSACTIONS A large proportion of the income from the hire of meeting rooms is from organisations that rUladY use them and have the right lo representatives acting as Trustees of the Cenlre. Hire charges to these organisations are all charged al the full applicable rate. No individual organisation contributes more than 50/D of the total income arising from hire charges, except from Citizens Advice Bureau £8,377 12021.. £10,2391, Sharief Healthcare Limited £7,476, Girf Guides £4,610, and Annette School of Dancing £2,262. During the year, room hire income of £2,262 was received from Annette School of Dancing lotaling £2,262 12021.. £7901 all of which has been reiVed by the year end. Mrs T Harvey, a Trustee, is the proprietor. 19. CONTROLLING PARTY The Charity is under the control of the Trustee$. Page 22