REGISTERED COMPANY NUMBER: 08116421 (England and Wales) REGISTERED CHARITY NUMBER: 1148654
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013 FOR SEAGROVE PAVILION TRUST
Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ SEAGROVE PAVILION TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013
Page
Report of the Trustees 1 to 3
Independent Examiner’s Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 11
Detailed Statement of Financial Activities 12 SEAGROVE PAVILION TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 July 2012 to 31 December 2013. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 08116421 (England and Wales)
Registered Charity number 1148654
Registered office 4 Spithead Close Seaview Isle of Wight P034 5AZ
Trustees R V Courage (chairman) R R Barry K Berry K Bradford R Colledge B R Townsend
Miss H MackIm - appointed 20/11/2013
C C Turvey - appointed 20/11/2013
Company Secretary B R Townsend
Independent examiner Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, the Memorandum and Articles of Association dated 24 June 2012 and amended 10 September 2012.
Organisation The trustees meet 4 times a year to administer the charity. Trustees are recruited and appointed on the recommendation of the existing trustees.
Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES Objectives and aims The objective of the Trust was to provide a venue that would unite the villages of Seaview and Nettlestone in sport recreation and social activities. This involved the demolition of the condemned buildings on Seaview Recreation Ground. These buildings consisted of the Seaview Football Club changing room, the 1st Seaview Guide Hut a public toilet block and a teahut.
Page 1 SEAGROVE PAVILION TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013
OBJECTIVES AND ACTIVITIES Significant activities Plans for the new Pavilion were drawn up by the architects and tenders were sent out to local contractors. The successful contractor - SSJ Contractors Limited were appointed in September 2012, and work began in March 2013.
At that time it was estimated that the cost of building the Pavilion would be approximately £240,000.
Pavilion Users The following local groups now successfully use the Pavilion facilities on a regular basis:
- Seaview Football Club
- Seaview Art Group
- Seagrove Art Workshop
- Friendly Bridge Group
- Pilates
- Yoga for Beginners
- Yoga Group
- Seaview Guides
- Seaview Brownies
- Seaview Seniors
- Choir
Administration of the Groups & Hiring The above groups, each having a leader, are administered by one of the Trustees, and meet together at regular intervals to discuss use of the facilities and to give suggestions for any improvements of changes.
A small hourly charge of £6 (or £8 if the kitchen facilities are used) is made to each group and is designed to cover the ongoing running costs of the Pavilion.
The Pavilion is also available to local people on application to the named trustee.
Aspirations and Challenges for the Future Now that the Pavilion has been successfully completed and is well used by the local community, the Trust aspires to develop a Petanque rink - there is a group of local enthusiasts who are extremely interested in starting a Petanque Club. Planning permission has been applied for, and we await the outcome.
Planning has also been applied for to extend the present two designated disability parking spaces to the provision of 11 parking spaces. This will alleviated parking and possible inconvenience to our neighbours. We await the outcome of this application.
To enable the Petanque rink and additional parking spaces to be achieved we will, of course need to continue fundraising to raise the estimated cost of £16,000 to complete these projects.
Celebration of Achievement To conclude the report, we would wish to both congratulate the residents of Nettlestone & Seaview, and also thank them and all our sponsors and donors for enabling the Seagrove Pavilion to become a reality.
We believe thar the Seagrove Pavilion is a welcome asset to all of our community.
Page 2 SEAGROVE PAVILION TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013
ACHIEVEMENT AND PERFORMANCE Fundraising activities Funding the Pavilion was a challenge, and a plan of fundraising was agreed by the Trustees which involved the following.:
- A successful bid was made to Sport England and Biffa, who each contributed grants of £50,000
- Donation from Nettlestone & Seaview Parish Council of £10,000
- Donation from Seaview Village Regatta Committee of £10,000
- Donation from Seaview Football Club of £13,478
- Donation from Nettlestone & Seaview Community Partnership of £2,000.
The Trust received generous pledges of materials, labour and consultancy advice from the following:
- Aggregates Ltd, through Bardon Vectis
- Island Scaffold
- Russell Page
- Bates, Wells & Braithwaite Solicitors
- H.J. Bennett Ltd
- Southern Water
- Andrews, Downie & Partners
- Gully Howard
- Paul Stack Planning
- Isle of Wight County Council
- Wilks, Price & Hounslow Solicitors
- Haines & Philip Architects.
The balance of the funding, which amounted to £65,000 was raised through the generosity of the residents and visitors to Nettlestone and Seaview in the form of donations and fundraising events in the villages.
The Pavilion was successfully completed at the end of July 2013, and officially opened on 11th August 2013 by the Lord Lieutenant of the Island and Councillor Reg Barry.
FINANCIAL REVIEW Reserves policy The trustees aim to hold sufficient reserves to finance two years running costs of The Pavilion.
ON BEHALF OF THE BOARD:
B R Townsend - Secretary
25 February 2014
Page 3 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SEAGROVE PAVILION TRUST
I report on the accounts for the period 1 July 2012 to 31 December 2013 set out on pages five to eleven.
Respective responsibilities of trustees and examiner The charity’s trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this period (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Institute of Chartered Accountants in England and Wales.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
Basis of the independent examiner’s report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequentiy no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statements below.
Independent examiner’s statement In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect, the requirements
- to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
R B Fokias Institute of Chartered Accountants in England and Wales Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ
25 February 2014
Page 4 SEAGROVE PAVILION TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013
Period Period 1.7.12 22.6.12 to to 31.12.13 30.6.12 Unrestricted Restricted Total Total fund fund funds funds Notes £ £ £ £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 1,316 271,593 272,909
Activities for generating funds 2 - 3,080 3,080
Total incoming resources 1,316 274,673 275,989
RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 3 301 301 Charitable activities 4
Operation of pavilion 13,422 - 13,422
Governance costs 900 - 900
Total resources expended 14,322 301 14,623
NET INCOMING/(OUTGOING) RESOURCES BEFORE TRANSFERS (13,006) 274,372 261,366
Gross transfers between funds 12 274,372 (274,372)
Net incoming/(outgoing) resources 261,366 - 261,366
RECONCILIATION OF FUNDS
Total funds brought forward - -
TOTAL FUNDS CARRIED FORWARD 261,366 261,366
The notes form part of these financial statements
Page 5 SEAGROVE PAVILION TRUST
BALANCE SHEET AT 31 DECEMBER 2013
2013 2012 Notes £ £ FIXED ASSETS Tangible assets 8 252,893
CURRENT ASSETS Debtors 9 738 Cash at bank 13,975
14,713
CREDITORS Amounts falling due within one year 10 (6,240)
NET CURRENT ASSETS 8,473
TOTAL ASSETS LESS CURRENT LIABILITIES 261,366
NET ASSETS 261,366
FUNDS 12 Unrestricted funds 261,366
Restricted funds -
TOTAL FUNDS 261,366
The notes form part of these financial statements
Page 6 continued... SEAGROVE PAVILION TRUST
BALANCE SHEET - CONTINUED AT 31 DECEMBER 2013
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2013.
The members have not required the charitable company to obtain an audit of its financial statements for the period ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
~ by the Board of Trustees on 25 February 2014 and were signed on its behaff by:
R V Courage -Trustee
R R Barry -Trustee
The notes form part of these financial statements
Page 7 SEAGROVE PAVILION TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013
ACCOUNTING POLICIES
Accounting convention The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 25 years
Plant and machinery etc - 25% on reducing balance
Taxation The charity is exempt from corporation tax on its charitable activities.
Fund accounting Unrestricted funds can be used in accordance with the charitableobjectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. ACTIVITIES FOR GENERATING FUNDS
Period Period 1.7.12 22.6.12 to to 31.12.13 30.6.12 £ £ Fundraising events 3,080
3. COSTS OF GENERATING VOLUNTARY INCOME
Period Period 1.7.12 22.6.12 to to 31.12.13 30.6.12 £ £ Sundries 85 Subscriptions 216
301
Page 8 SEAGROVE PAVILION TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013
4. CHARITABLE ACTIVITIES COSTS
Direct costs Totals (See note 5) £ £ Operation of pavilion 13,422 13,422
5. DIRECT COSTS OF CHARITABLE ACTIVITIES
Period Period 1.7.12 22.6.12 to to 31.12.13 30.6.12 £ £
Rates and water 254 -
Insurance 578 -
Light and heat 196 -
Postage and stationery 96 -
Sundries 83 -
Repairs and maintenance 87 -
Rent 25 -
Cleaning 741 - Depreciation 11,362
13,422
6. NET INCOMING/(OUTGOING) RESOURCES
Net resources are stated after charging! (crediting):
Period Period 1.7.12 22.6.12 to to 31.12.13 30.6.12 £ £
Depreciation - owned assets 11,362
7. TRUSTEESt REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the period ended 31 December 2013 nor for the period ended 30 June 2012.
Trustees expenses
Three trustees received reimbursements for expenses totaling £1,786.
Page 9 SEAGROVE PAVILION TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013
8. TANGIBLE FIXED ASSETS Land and Plant and buildings machinery etc Totals £ £ £ COST Additions 260,488 3,767 264,255
DEPRECIATION At 1 July 2012 10,420 942 11,362
NET BOOK VALUE At 31 December 2013 250,068 2,825 252,893
At 30 June 2012
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2013 2012 £ £ Other debtors 738
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2013 2012 £ £ Payments on account 800 - Other creditors 5,440
6,240
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2013 2012 Unrestricted Restricted Total Total fund fund funds funds £ £ £ £
Fixed assets 252,893 - 252,893 -
Current assets 10,346 4,367 14,713 -
Current liabilities (1,873) (4,367) (6,240) -
261,366 261,366
Page 10 SEAGROVE PAVILION TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013
12. MOVEMENT IN FUNDS
Net movement Transfers At 1.7.12 in funds between funds At 31.12.13 £ £ £ £ Unrestricted funds
General fund - (13,006) 274,372 261,366
Restricted funds
Building Fund - 274,372 (274,372) -
TOTAL FUNDS - 261,366 261,366
Net movement in funds, included in the above are as follows:
Incoming Resources Movement in resources expended funds £ £ £ Unrestricted funds General fund 1,316 (14,322) (13,006)
Restricted funds Building Fund 274,673 (301) 274,372
TOTAL FUNDS 275,989 (14,623) 261,366
Transfers between funds Restricted fund expenditure of a capital nature, including the construction of the Pavilion, and purchase of equipment is included in fixed asset additions at the time of the construction and purchase of these items. An amount equal to the cost of this equipment is transferred from the restricted fund to the unrestricted fund, provided that this equipment may be used by the charity for its general application. Depreciation on this equipment will be charged against unrestricted funds. The surplus restricted funds on completion of the building works, totalling £10,118 has been transferred from the restricted fund to the unrestricted fund in accordance with the terms notified to donors.
Page 11 SEAGROVE PAVILION TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 JULY 2012 TO 31 DECEMBER 2013
Period Period 1.7.12 22.6.12 to to 31.12.13 30.6.12 £ £
INCOMING RESOURCES
Voluntary income Donations 164,299 Gift aid 7,296 Grants 100,000 Subscriptions 1,314
272,909
Activities for generating funds Fundraising events 3,080
Total incoming resources 275,989
RESOURCES EXPENDED
Costs of generating voluntary income Sundries 85 Subscriptions 216
301
Charitable activities Rates and water 254 Insurance 578 Light and heat 196 Postage and stationery 96 Sundries 83 Repairs and maintenance 87 Rent 25 Cleaning 741
Dep’n - long leasehold 10,420
Dep’n - fixtures & fittings 942
13,422
Governance costs Accountancy 900
Total resources expended 14,623
Net income 261,366
This page does not form part of the statutory financial statements
Page 12