## **Cholsey Day Centre** 

## **Accounts** 

## **31st December 2023** 

## **Page** 

- **1 Trustees' Annual Report 2 Independent Examiners Report** 

- **3 Balance Sheet** 

- **4 General Fund Income & Expenditure Account 5 Operating Income & Expenditure 6 Notes to the accounts** 



## **THE CHOLSEY DAY CENTRE TRUST** 

## **TRUSTEES REPORT FOR THE YEAR ENDED 31st DECEMBER 2023** 

## **Review of activities 2023** 

The income and expenditure accounts for the year, together with the balance sheet as of Dec 31st 2023 are shown in the attached accounts. 

The activities of the Cholsey Day Centre Trust continue to be governed by the Trust Deed dated 7th May 1990. The continuing priority is to meet the existing and changing social needs of the frail and vulnerable of the local and immediately surrounding community. However, we have now embarked on the process of converting our charitable status from Trust to Charitable Incorporated Organisation (CIO). This is in recognition of the fact that we need to encourage younger trustees to become involved, and reducing the financial exposure by becoming a CIO will make a considerable difference. 

The Day Centre continues to thrive. The additional day set aside for members with mild to moderate dementia has proved to be a lifeline for family carers, and the outreach post, for which the Day Centre received funding at the end of the year, has made a huge difference to elderly people looking for a bridge between home and Centre. Transport remains a problem for all village communities, but the collaboration with Cholsey Volunteers to ferry members to and from the Centre has become a settled and greatly appreciated pattern 

As will be seen in the balance sheet, the investment portfolio is in transition. The generous bequest has been placed with Cambridge and Counties Bank, and the investment with Barclays Wealth will shortly be transferred, on the advice of its fund managers, to a selection of one year fixed rate bonds geared to the needs of the Day Centre. The Centre’s future has been secured until 2027 but it will have to address the longer term by increasing fees on a more commercial basis or finding grant aid equivalent to that which it used to enjoy until 2017. 

## **Financial policies** 

The continuing overall policy of the Trustees is to maintain reserves, suitably invested, to generate sufficient income to cover anticipated operating losses, 

I declare, in my capacity as Chair of the Trustees, that the Trustees have approved the above report and have authorised me to sign it on their behalf. 

**14/10/24** 

**……………………..                                                                         …………….** 

**Eve Evans                                                                                      Date** 

Page 1 



1NDEPEl%DE￿T EXAMIYER'S REPORT THE ACCOIT￿Ts
FOR THE YEAR ENDED.11. DF.CEMBF_R 2011 (Set out on pgg¢s 3 to 6)
Respective responsibiliti￿ of trustees *Dd tijminer
The charity s trusiees are resrK>nsible for the preparaiion of the accounts. The charity's
trustees consider that an audit is not required for this >'&qr under section 144 of the Charities
Aci 2011 Iihe Chariiies Act) and ihat an indyndent examiTialion is nccded.
It is my rcsw)nsibi]i￿. io:
examine the accounts under section 145 of the Charitie8 ACL
to follow. the procedure5 laid dowTr in the general Dire¢iions given by the Cl)arity
Commission {under section 14515Xb) ofthe Charities ACL arml
to state whether particular rnat￿ have o)me to my auention.
BAsi8 of indepeDden¢ ex*miDer's $t%tement
My &x8mination ￿73 carried in ¥corda￿t with C*rKral Directio￿ given bv the Chxrity
Commission. An examinaiion Inc]￿eS a revie￿ of th¢ accouniing records kepi by the charity
and a comparison of the account5 presented w'ith ihose record5. li also includes constderation
of an)" unusual items or disc105ures in lh¢ accounts. ll[￿ seeking explanaiions from the
trustees ¢oncerning ani. s￿h matters. The pNKedures undenaken do noi proi'ide all the
evidence that ￿oUld k required in an audit. and ¢onsequently no opinion is gii.en as to
whether the accounis pr¢seni a'twe dnd fair i'iem and the re￿rt is limited io those mailers
S¢t out in the stst¢meni klow.
Independent examiner's s¢*temeDt
tn connethion with my examinaiioffj no matter has come to m>" lltteniion:
l. which gil'es me Teasonable cause to beliu'e thai an) material reS￿cL the requirements..
to keep a¢counting records in accordance knith stttion 130 of the Charities Act: and
to prepare ￿cOullts Mthich a￿Ord with the accounting recorth and comply the
accounting requirenknts of the Chariiies A
have not Eten met; or
2. 10 whicb. in my Opinio￿ attention shou]d be drnwn in order to thable a pv)
understr￿Ing of the accounts io be Tfdcbed.
R W Oakey C.T.A
David Miichell & Co
4 The Pound
Cholsey. OxotL OXIO 9NS
Date:
Page 2
Page 2

## **The Cholsey Day Centre Trust** 

## **Balance Sheet as at 31st December 2023** 

|**CURRENT**<br>**ASSETS**<br>Debtors and prepayments<br>(Note 1)<br>Investments<br>(Note 4)<br>Bank and Building Society<br>Deposits<br>(Note 5)<br>**LESS CURRENT**<br>**LIABILITIES**<br>(Note 2)<br>**NET**<br>**ASSETS**<br>**FUNDED**<br>**BY:**<br>General<br>Fund<br>(Note 3)|2023<br>£<br>1,342<br>109,703<br>111,888<br>222,933<br>2,440<br>220,493<br>220,493<br>220,493|2022<br>£<br>1,149<br>143,171<br>20,945|
|---|---|---|
|||165,265<br>2,515|
|||162,750|
|||162,751|
|||162,751|



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|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||
|**General Fund Income & Expenditure Account**|||||||||||
|**for theyear ended 31st December 2023**|||||||||||
|||||||||2023||2022|
|||||||||£||£|
|**INCOME**|||||||||||
|||Donations|||||123,784|||7,908|
|||Fund Raising|||||4,934|||4,351|
|||Day Centre Grants|||||3,004|||20,837|
|||Investment Income|||||3,889|||5,211|
||||||||||||
|**TOTAL INCOME**|||||||135,611|||38,306|
||||||||||||
||||||||||||
|**EXPENDITURE**|||||||||||
||Equipment, Furniture & Fittings||||||364|||6,615|
||Fees re investments||||||396|||556|
||||||||||||
|**TOTAL EXPENDITURE**|||||||759|||7,171|
||||||||||||
|**GENERAL FUND NET SURPLUS /(DEFICIT) FOR YEAR**|||||||134,852|||31,135|
||||||||||||
|**add NET OPERATING SURPLUS /(DEFICIT) FOR YEAR**|||||||-84,113|||-85,035|
||||||||||||
|**TOTAL NET SURPLUS /(DEFICIT) FOR YEAR**|||||||**50,739**|||**-53,900**|



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|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||
|**Operating Income & Expenditure Account**|||||||||||
|**for theyear ended 31st December 2023**|||||||||||
||||||||||||
|||||||||2023||2022|
|||||||||£||£|
||||||||||||
|**INCOME**|||||||||||
||Membership lunch revenues|||||||72,219||50,055|
||Sales|||||||5,021||6,049|
||Meals on Foot|||||||8,095||6,076|
||Rental Income|||||||4,674||3,505|
||||||||||||
|**TOTAL INCOME**||||||||90,009||65,685|
||||||||||||
||||||||||||
|**EXPENDITURE**|||||||||||
||Staffing Costs||||||130,588|||114,750|
||Food||||||14,981|||10,825|
||Heat, Light & Water||||||10,138|||6,957|
||Rent & Rates||||||0|||0|
||Repairs||||||1,501|||860|
||Telephone||||||1,022|||933|
||Insurance||||||2,037|||1,679|
||Cleaner / Caretaker||||||200|||437|
||Activities||||||3,372|||1,200|
||Transport||||||700|||90|
||General Expenses & Other Supplies||||||9,584|||12,987|
|**TOTAL EXPENDITURE**|||||||174,122|||150,720|
||||||||||||
||||||||||||
|**OPERATING SURPLUS /(DEFICIT) FOR YEAR**|||||||**-84,113**|||**-85,035**|
|**(carried forward to General Fund Income Statement)**|||||||||||
||||||||||||



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|**Notes to the accounts for**|**Notes to the accounts for**|**Notes to the accounts for**|**Notes to the accounts for**||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**theyear ended 31st December 2023**|||||||||||||
|||||||||||2023||2022|
|||||||||||£||£|
||||||||||||||
|NOTE 1|DEBTORS||||||||||||
|||Insurance prepayment||||||||1,342||1,149|
||||||||||||||
|NOTE 2|CREDITORS||||||||||||
|||Operational accruals||||||||2,050||2,050|
|||Provision for Portfolio Investment Fee Oct/Dec 2023||||||||90||165|
|||Provision for accounting fees (payroll services)||||||||300||300|
|||||||||||2,440||2,515|
||||||||||||||
|NOTE 3|GENERAL FUND||||||||||||
||||Balance at 1st January 2023||||||162,751|||237,493|
||||Net Surplus / (Deficit) for year||||||50,739|||-53,900|
||||Realised / unrealised investment gains / (losses)||||||7,003|||-20,842|
||||Balance at 31st December 2023||||||220,493|||162,751|
||||||||||||||
||||||||||||||
|NOTE 4|INVESTMENTS||||||||||||
||||Balance at 1st January 2023||||||143,170|||214,569|
||||Realised / unrealised investment gains /<br>(losses) transferred to General Fund||||||7,003|||-20,842|
||||Dividend & Interest income to General Fund<br>Income / Expenditure statement||||||3,889|||5,211|
||||Transfer to Day Centre Lloyds TSB current account||||||-43,889|||-55,211|
||||BarclayWealth Fees to General Fund<br>Income /Expenditure statement||||||-471|||-556|
||||Balance at 31st December 2023||||||109,703|||143,170|
||||||||||||||
|NOTE 5|BANK & BUILDING SOCIETY DEPOSITS||||||||||||
||||Lloyds TSB Operations Account||||||41,888|||20,945|
||||Cambridge & Counties Deposit Account||||||70,000||||
||||Total bank & building society deposits||||||111,888|||20,945|
||||||||||||||



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