## **Cholsey Day Centre**
## **Accounts**
## **31st December 2024**
## **Page**
- **1 Trustees' Annual Report 2 Independent Examiner’s 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 2024**
## **Review of activities 2024**
The income and expenditure accounts for the year, together with the balance sheet as of Dec 31st 2024 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 process of converting our charitable status from Trust to Charitable Incorporated Organisation (CIO) has stalled because of delays in sorting out the new lease for the premises, but as the year ended there were encouraging signs that this will soon be resolved. The new charity already exists as a ‘shell’ to which everything will be transferred once the lease is settled
The Day Centre continues to thrive. More funding has been obtained to expand provision for members with mild to moderate dementia, and Cholsey Volunteers has obtained funding for a part time driver which we hope will ease the strain on our current volunteer transport. Attendance at the Centre has remained high, and with a settled staff team the service we provide goes from strength to strength.
As evidenced by the balance sheet, the investment portfolio has changed. The substantial portion of the generous bequest was placed with Cambridge and Counties Bank fixed rate bond, and the closure of the Barclays Wealth fund released funds for a Dudley Building Society fixed rate bond. Both bonds will shortly have matured and the funds transferred to 30-day and immediate access deposit accounts respectively with the same providers at interest rates not much lower than the fixed rate bonds and 90-day deposit accounts.
The Centre’s future remains secure, therefore, until mid-2027 but from 2025 onwards there will have to be a concerted effort through a newly-created Fundraising Sub-Committee to finding grant aid or revenue support from central or local government as well as funding from increased fees and charitable trusts. Funding across the whole care sector has suffered greatly with the squeeze on local authority funding, so this will be a considerable challenge.
## **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.
**15[th] April 2025**
**Eve Evans Chair**
Page 1
Indop•ndent Examlnefs Report to the TnMt•e¥
of Cholwy Day C•ntr• Trust
for tho y•ar •nd•d 31st Dec•mber 20
T charivs trustees Consi that an awlil is not rwuired frA this year (uThler section
43{2) olthè Charliès A¢t 1993 (tr ) and thatan indent •xamlnation is needed.
An examination iTrJude5 a rev of Ihe accountbng ie¢>)rds kept by th• ¢harity and a
comparison of the aCc£nts woSont8d with those records. It alw includes consKl8ration
of any unusual rtems or dule8 in the a)UnIs. and seek]"ThJ explanation$ from the
trtsstee6 ¢on¢erniThJ any such matter8. The pro(*durns undertaken do not provide all
Ihe evKlence that would b• required In an a1¢ and cOnwDI I do not expre55 an
audit opinx)n on th&acCcrtts.
In ¢4)ur8e of my examination. no matter has c(Th to my attention
trustéès have not met the reqUIents to ensur• Ihat
proper accounting rwds are kèpt. and
accounts are preparwj which agree with Ih&#LxntIThJ record8: or
to Whh. in my attent#)n should be in er to enablE a propar
nd8rnthndkng ofthe accounts to be IXI.
Slgnod
Name:
.T.A.
Addr•.
Page 2
|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||
|**Balance Sheet as at 31st December 2024**|||||||||||
||||||||||||
|||||||||2024||2023|
|||||||||£||£|
||||||||||||
|**CURRENT ASSETS**|||||||||||
||||||||||||
||Debtors and prepayments||||(Note 1)|||1,569||1,342|
||Investments||||(Note 4)|||0||109,703|
||Bank and Building Society Deposits||||(Note 5)||171,248|||111,888|
||||||||||||
||||||||172,817|||222,933|
||||||||||||
|**LESS CURRENT LIABILITIES**|||||(Note 2)||2,350|||2,440|
||||||||||||
|**NET ASSETS**|||||||170,467|||220,493|
||||||||||||
||||||||||||
||||||||||||
|**FUNDED BY:**|||||||||||
||||||||||||
||General Fund||||(Note 3)||170,467|||220,493|
||||||||||||
||||||||||||
||||||||||||
||||||||||||
||||||||170,467|||220,493|
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|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**||||||||
|---|---|---|---|---|---|---|---|---|---|---|
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|**General Fund Income & Expenditure Account**|||||||||||
|**for theyear ended 31st December 2024**|||||||||||
|||||||||2024||2023|
|||||||||£||£|
|**INCOME**|||||||||||
|||Donations|||||37,943|||123,784|
|||Fund Raising|||||4,501|||4,934|
|||Day Centre Grants|||||990|||3,004|
|||Investment Income and interest|||||4,294|||3,889|
||||||||||||
|**TOTAL INCOME**|||||||47,728|||135,611|
||||||||||||
||||||||||||
|**EXPENDITURE**|||||||||||
||Equipment, Furniture & Fittings||||||6,686|||364|
||Fees re investments||||||0|||396|
||||||||||||
|**TOTAL EXPENDITURE**|||||||6,686|||759|
||||||||||||
|**GENERAL FUND NET SURPLUS /(DEFICIT) FOR YEAR**|||||||41,042|||134,852|
||||||||||||
|**add NET OPERATING SURPLUS /(DEFICIT) FOR YEAR**|||||||-88,665|||-84,113|
||||||||||||
|**TOTAL NET SURPLUS /(DEFICIT) FOR YEAR**|||||||**-47,623**|||**50,739**|
||||||||||||
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|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**||||||||
|---|---|---|---|---|---|---|---|---|---|---|
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|**Operating Income & Expenditure Account**|||||||||||
|**for theyear ended 31st December 2024**|||||||||||
||||||||||||
|||||||||2024||2023|
|||||||||£||£|
||||||||||||
|**INCOME**|||||||||||
||Membership lunch revenues|||||||77,235||72,219|
||Sales|||||||4,099||5,021|
||Meals on Foot|||||||8,662||8,095|
||Rental Income|||||||6,247||4,674|
||||||||||||
|**TOTAL INCOME**||||||||96,243||90,009|
||||||||||||
||||||||||||
|**EXPENDITURE**|||||||||||
||Staffing Costs||||||140,555|||130,588|
||Food||||||15,212|||14,981|
||Heat, Light & Water||||||9,959|||10,138|
||Rent & Rates||||||0|||0|
||Repairs||||||1,247|||1,501|
||Telephone||||||1,144|||1,022|
||Insurance||||||2,328|||2,037|
||Cleaner / Caretaker||||||125|||200|
||Activities||||||2,235|||3,372|
||Transport||||||1,400|||700|
||General Expenses & Other Supplies||||||10,704|||9,584|
|**TOTAL EXPENDITURE**|||||||184,908|||174,122|
||||||||||||
||||||||||||
|**OPERATING SURPLUS /(DEFICIT) FOR YEAR**|||||||**-88,665**|||**-84,113**|
|**(carried forward to General Fund Income Statement)**|||||||||||
||||||||||||
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|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**|**The Cholsey Day Centre Trust**||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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|**Notes to the accounts for**|||||||||||||
|**theyear ended 31st December 2024**|||||||||||||
|||||||||||2024||2023|
|||||||||||£||£|
||||||||||||||
|NOTE 1|DEBTORS||||||||||||
|||Insurance prepayment||||||||1,569||1,342|
||||||||||||||
|NOTE 2|CREDITORS||||||||||||
|||Operational accruals||||||||2,050||2,050|
|||Provision for Portfolio Investment Fee Oct/Dec 2024||||||||0||90|
|||Provision for accounting fees (payroll services)||||||||300||300|
|||||||||||2,350||2,440|
||||||||||||||
|NOTE 3|GENERAL FUND||||||||||||
||||Balance at 1st January 2023||||||220,493|||162,751|
||||Net Surplus / (Deficit) for year||||||-47,623|||50,739|
||||Realised / unrealised investment gains / (losses)||||||-2,403|||7,003|
||||Balance at 31st December 2023||||||170,467|||220,493|
||||||||||||||
||||||||||||||
|NOTE 4|INVESTMENTS||||||||||||
||||Balance at 1st January 2023||||||109,703|||143,170|
||||Realised / unrealised investment gains /
(losses) transferred to General Fund||||||-2,403|||7,003|
||||Dividend & Interest income to General Fund
Income / Expenditure statement||||||0|||3,889|
||||Transfer to Day Centre Lloyds TSB current account||||||-107,210|||-43,889|
||||BarclayWealth Fees to General Fund
Income /Expenditure statement||||||-90|||-471|
||||Balance at 31st December 2023||||||0|||109,703|
||||||||||||||
|NOTE 5|BANK & BUILDING SOCIETY DEPOSITS||||||||||||
||||Lloyds TSB Operations Account||||||46,954|||41,888|
||||Cambridge & Counties Deposit Account||||||74,294|||70,000|
||||Dudley Building Society Deposit Account||||||50,000||||
||||Total bank & building society deposits||||||171,248|||111,888|
||||||||||||||
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