2022-04-05-accounts - The Bromsgrove Society

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THE BROMSGROVE SOCIETY

REGISTERED CHARITY NUMBER 510542

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2022

THE BROMSGROVE SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2022

The trustees present their report along with the financial statements of the Society for the year ended 5 April 2022. The financial statements have been prepared in accordance with the accoun?ng policies set out on page 8 of the financial statements for the year and comply with the Society’s trust deed and applicable law.

Cons>tu>on and objects; aims and ac>vi>es

The Bromsgrove Society is cons?tuted under a trust deed dated 11 July 1980 and is a registered charity number 510542.

The objects of the charity are, for the public benefit in the area comprising Bromsgrove and District, to

promote a high standard of planning and architecture.
educate the public in the geography, history, and natural history.
secure the preserva?on, protec?on, development, and improvement of features of historic and public interest.

Organisa>on

The trustees who have served during the year and since the year-end are set out on page 3. Trustees are appointed by the Annual General Mee?ng for the following year, at the end of which they may put themselves forward for reappointment. A president and/or vice presidents may be elected at an Annual General Mee?ng for periods to be determined at that mee?ng; such appointments do not carry vo?ng rights.

The trustees must meet not fewer than six ?mes a year, and have the power to fill casual vacancies arising between Annual General Mee?ngs and to co-opt further (non-vo?ng) members. Sub groups, repor?ng to the trustees, are cons?tuted as required and currently consider maTers rela?ng to landscape and the built environment, and local history.

Grant making policy

The Society ini?ates, and also invites, applica?ons for the funding of projects in furtherance of the Society’s objects; these are considered by the full board of trustees.

Financial review and investment policy

The Society receives the majority of its income from membership subscrip?ons, the levels of which are determined from ?me to ?me by the trustees.

Other income comes from lecture and other mee?ngs for which a charge is made, interest on investments, and profits from sales of the Society’s publica?ons. In addi?on, the Society seeks where appropriate grants from external bodies.

The Society’s reserves are invested in a deposit account with the Chari?es Official Investment Fund (COIF) and two 1 year fixed term investments with Shawbrook Bank which mature in June 2022 and December 2022.

There are no restric?ons on the Society’s powers to invest, other than the requirements of the Chari?es’ Commission. The trustees determine investment strategy.

THE BROMSGROVE SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2022 (cont.)

Reserves policy

The trustees will seek to maintain reserves sufficient to provide:

a regular and dependable investment income to supplement that obtained from members’ subscrip?ons.
the ability to make such grants in pursuance of the Society’s objects as the trustees may determine.

The level of reserves is kept under review by the trustees and will be a factor in any considera?on rela?ng to the Society’s fund-raising ac?vi?es.

Statement of responsibili>es

The trustees are required under the cons?tu?on of the society to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the society and of the surplus or deficit of the society for that period. In preparing those financial statements, they are required to:

select suitable accoun?ng policies and then apply them consistently.
make judgements and es?mates that are reasonable and prudent.
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the society will con?nue to pursue its objects.

The trustees are responsible for keeping proper accoun?ng records which disclose with reasonable accuracy at any ?me the financial posi?on of the charity and to ensure that the financial statements comply with the Chari?es Act 2011. They are also responsible for safeguarding the assets of the society and hence for taking reasonable steps for the preven?on and detec?on of fraud and other irregulari?es.

Public benefit statement

The trustees have complied with their duty under sec?on 4 of the Chari?es Act 2006 to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and du?es.

THE BROMSGROVE SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2022 (cont.)

Legal and administra>ve informa>on Trustees Isobel JarreT President Joanne Slade Chairman Richard Aust OBE Treasurer Patricia Tansell Vice Chairman Susan Beaumont Hon. Secretary Desmond Clarke resigned 6 October 2021 John Weston John Gerner Julian Hunt Anne Maguire Alastair Moseley Michael Sharpe Ronald Skidmore Jenifer Townshend

The Bailiff of the Court Leet, currently Joanne Slade, is an ex-officio Trustee.

Address of Society

138 Stourbridge Road, Bromsgrove, Worcestershire B61 0AN

Independent examina>on of accounts

Fullard Duffill Limited, Chartered Accountants, 106 Birmingham Road, Bromsgrove, Worcestershire B61 0DF

Bankers

Lloyds Bank, 112 High Street, Bromsgrove, Worcestershire B61 8EZ

Approved by the trustees on 26 May 2022 and signed on their behalf by:

Joanne Slade Chairman

THE BROMSGROVE SOCIETY TREASURER’S REPORT

I have pleasure in presen?ng my sixth annual report which shows that The Bromsgrove Society’s finances are s?ll very healthy. Overall our financial posi?on has seen a reduc?on of £7,080 over the course of the financial year. Our main sources of income from subscrip?ons, Gii Aid and Rousler sales have been maintained. The Local History Group mee?ngs presented via Zoom did not quite cover their costs, but did aTract addi?onal members to the Society. Pre-publica?on sales of the Society’s book about the History of Bromsgrove reached 142 copies, with encouraging sales since the official launch on 9 April 2022.

The Society was able, once again, to respond posi?vely to requests for grant aid during the year. We con?nue to welcome suitable bids for grant aid.

This will be my final Treasurer’s Report as I am standing down from this posi?on in December 2022. Please do contact a member of the Society’s Execu?ve if you feel you, or someone you know, would be interested in taking on this role – full training available.

Finally I would like to thank Elaine Duffill who has yet again been the much-valued Examiner and producer of our Annual Accounts.

Richard Aust OBE Hon. Treasurer

INDEPENDENT EXAMINERS’ REPORT TO THE COMMITTEE

MEMBERS OF THE BROMSGROVE SOCIETY

We report on the financial statements of the Society for the year ended 5 April 2022, which are set out on pages 6 to 10.

Respec>ve responsibili>es of the commi\ee and examiner

The charity’s commiTee are responsible for the prepara?on of the financial statements. The charity’s commiTee consider that an audit is not required for this year (under sec?on 145 of the Chari?es Act 2011, “the 2011 Act”) and that an independent examina?on is needed.

It is our responsibility to:

examine the financial statements (under sec?on 145 of the 2011 Act);
to follow the procedures laid down in the General Direc?ons given by the Charity Commissioners (under sec?on 145(5)(b) of the 2011 Act) and
to state whether par?cular maTers have come to our aTen?on.

Basis of independent examiners’ report

Our examina?on was carried out in accordance with the General Direc?ons given by the Charity Commission. An examina?on includes a review of the accoun?ng records kept by the charity and a comparison of the financial statements presented with those records. It also includes considera?on of any unusual items or disclosures in the accounts, and the seeking of explana?ons from you as commiTee members of any such maTers. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, we do not express an audit opinion on the view given by the financial statements.

Independent examiners’ statement

In connec?on with our examina?on, no maTer has come to our aTen?on:

which gives us reasonable cause to believe that, in any material respect, the requirements:
to keep accoun?ng records in accordance with sec?on 130 of the 2011 Act; and
- to prepare financial statements which accord with the accoun?ng records and to comply with the accoun?ng requirements of the 2011 Act.
have not been met; or
to which, in our opinion, aTen?on should be drawn in order to enable a proper understanding of the financial statements to be reached.

Fullard Duffill Limited

Chartered Accountants 106 Birmingham Road Bromsgrove Worcestershire B61 0DF.

26 May 2022

THE BROMSGROVE SOCIETY

BALANCE SHEET

AT 5 APRIL 2022

			2022		2021
	Note	£	£	£	£
Fixed assets
Investments	2		23,223		34,887
Current assets
Stock of History of Bromsgrove	books	5,451		-
Debtors and prepayments	3	1,065		1,082
Cash at bank and in hand	4	1,196		2,420
	______		_____
		7,712		3,502
Current liabili>es
Creditors	5	(3,677)		(4,051)
	______		______
Net current assets/(liabili>es)			4,035		(549)
			______		______
Net assets			27,258		34,338
			======		======
Represented by:
General fund reserves	6		27,258		34,338
			======		======

26 May 2022 …………………….... ………………………….. ………….......…. J. Slade S.Beaumont CHAIRMAN SECRETARY Date

THE BROMSGROVE SOCIETY

STATEMENT OF THE FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022

	Note		2022		2021
		£	£	£	£
Income and expenditure account
Incoming resources
Subscrip?ons and gii aid			4,408		4,300
Total voluntary income
Proft on sale of books and
publica?ons	7	1,570		815
Interest receivable	8	271		542
Legacy		-		250
Dona?ons towards Zoom costs		405		379
	_____		_____
			2,246		1,986
			______		______
Total incoming resources			6,654		6,286
Less: Resources expended
Local history group costs		570		390
Insurance		279		283
Prin?ng, post and sta?onery		241		313
Zoom costs		276		290
NewsleTer		977		972
Rouslers given to members		624		856
A Short History booklet		253		738
Dona?ons	9	9,300		5,350
Sundries	10	1,214		1,256
		_____		_____
Total resources expended			13,734		10,448
			______		______
Defcit of incoming resources over	expenditure		(7,080)		(4,162)
Reserves at 6 April 2021			34,338		38,500
			______		______
Reserves at 5 April 2022			27,258		34,338
			======		======

THE BROMSGROVE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

1. Principal accoun>ng policies

(a) Basis of accoun>ng

The financial statements have been prepared under the historical cost accoun?ng rules and in accordance with the Financial Repor?ng Standard for Smaller En??es.

(b) Income and expenditure

Income and expenditure is stated on an accruals basis.

(c) Dona>ons

Dona?ons are included in the financial statements when received.

(d) Administra>ve expenditure

Administra?ve expenditure includes all such expenditure as fund raising and publicity expenditure is minimal.

(e) Income and expenditure

Income and expenditure is not neTed off unless immaterial.

(f) Prepara>on of the financial statements

The financial statements are prepared in accordance with statement of recommended prac?ce “Accoun?ng and Repor?ng by Chari?es”.

(g) Income

Income from grants, including capital grants, is included in incoming resources when receivable.

(h) Funds

Funds held by the charity are unrestricted general funds. These are funds which can be used in accordance with the charitable objects at the discre?on of the execu?ve commiTee.

2. Investments

Investments
		2022	2021
	£	£
Chari?es’ deposit fund			465	8,465
Shawbrook Bank			22,758	26,422
			______	______
			23,223	34,887
			======	======
Debtors and prepayments
			2022	2021
			£	£
Gii Aid receivable			640	678
Prepayments and accrued income			425	404
			_____	____
			1,065	1,082
			=====	====

3. Debtors and prepayments

THE BROMSGROVE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

4.	Cash at bank and in hand
			2022	2021
			£	£
	Treasurers current account		911	2,188
	Paypal		135	82
	Cash in hand		150	150
			______	_____
			1,196	2,420
			======	======
5.	Creditors
			2022	2021
			£	£
	Subscrip?ons in advance		67	152
	Advance sales of history book to be published		3,550	3,500
	Other creditors		60	399
			_____	_____
			3,677	4,051
			=====	=====
6.	General fund reserves
			2022	2021
			£	£
	At 6 April 2021		34,338	38,500
	Defcit of income over expenditure
	for the year		(7,080)	(4,162)
			______	______
	At 5 April 2022		27,258	34,338
		======	======
7.	Proft on sale of books and publica>ons
	2022		2021
			£	£
	Sales		2,505	1,385
	Expenditure in year		(935)	(570)
			_____	_____
	Proft		1,570	815
			=====	=====

The cost of Rouslers given free to members is shown separately in the statement of financial ac?vi?es.

THE BROMSGROVE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2022

8. Interest receivable
	2022	2021
	£	£
Investment account: Chari?es’ deposit fund	52	105
Shawbrook Bank	219	437
	____	____
	271	542
	====	====
9. Dona>ons
	2022	2021
	£	£
Bromsgrove & Redditch Welcome Refugees	300	-
Bromsgrove Cricket Club	250	-
The Norton Collec?on	3,000	-
St Andrews Church Hall	500	-
Bromsgrove Methodist Centre	250	250
Digi?sa?on of Bromsgrove Messenger	2,500	2,500
Bromsgrove Scouts 2023 World Jamboree	1,000	-
Bromsgrove Singing Project	500	-
Bromsgrove Fes?val	1,000	300
Woodland Trust re: Pepper Woods	-	1,000
BDC Charford Heritage Project	-	700
Catshill & New Start Food Banks	-	600
	_____	_____
	9,300	5,350
	=====	=====
10. Sundries
	2022	2021
	£	£
Subscrip?ons paid	76	55
AGM costs	22	80
Honoraria	200	200
Website hos?ng and soiware	465	795
Bank and Paypal charges	87	106
Miscellaneous	364	20
	_____	____
	1,214	1,256
	=====	=====