Charity Registration No. 519333
Company Registration No. 02147755 (England and Wales)
ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2022
ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms S McGuiness
Ms M C McGann
Ms L Clarke
Mr J McGann
(Appointed 29 November 2021)
Mr G Sterritt
(Appointed 29 November 2021)
Mr P Williams
(Appointed 29 November 2021)
Mr C Vibrans
(Appointed 29 November 2021)
Mr J Peters
(Appointed 29 November 2021)
Charity number
519333
Company number
02147755
Principal address
Eldonian Village Hall
Burlington Street
Liverpool
L3 6LG
Registered office
Eldonian Village Hall
Burlington Street
Liverpool
L3 6LG
Bankers
Royal Bank of Scotland
1 Dale Street
Liverpool
L2 2PP
ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Trustees' report
1 - 2
Statement of trustees' responsibilities
3
Statement of financial activities
4
Balance sheet
5
Notes to the accounts
6 - 11
ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 29 SEPTEMBER 2022
- 1 -

The trustees present their annual report and financial statements for the year ended 29 September 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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 Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity's objectives are to benefit the inhabitants of Liverpool with particular emphasis upon the neighbourhood of Vauxhall. This is undertaken by associating the statutory authorities, voluntary organisations, institutions, business and inhabitants in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure time occupation with the object of improving conditions of life for the said inhabitants.

The Trustees are committed to maintain the operation of the Charity for the benefit of the local community and have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Due to the effect of COVID-19, operations were not able to reconvene during the year.

Financial review

Income for the period ended 29 September 2022 amounted to £NIL. After deduction of expenses of £2,706 there was a decrease in the funds of £2,706 to £6,925 as set out in the Statement of Financial Activities on page 4. The balance sheet on page 5 shows that funds as at 29 September 2022 consisted wholly of an unrestricted fund.

Reserves policy

The Trustees are committed to maintaining the operation of the Charity for the benefit of the local community. They are intending to build up uncommitted reserves to represent one year of annual expenditure, so that they can continue to operate the Charity in the short term, in the event that present supporters and sources of finance cease.

 

The trustees are aware of the past deficits incurred and are in the process of addressing this including actions to secure more funding.

 

 

Risk policy

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

 

ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 29 SEPTEMBER 2022
- 2 -
Structure, governance and management
The charity is a company limited by guarantee not having any share capital. It is governed by its Memorandum and Articles of Association. Charitable status was granted on 7 October 1987.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Ms P Hackett
(Resigned 29 November 2021)
Ms H Harrison
(Resigned 29 November 2021)
Ms S McGuiness
Ms A Ward
(Resigned 22 May 2023)
Mrs R Harrison
(Resigned 29 November 2021)
Ms M C McGann
Ms L Clarke
Mr J McGann
(Appointed 29 November 2021)
Mr G Sterritt
(Appointed 29 November 2021)
Mr P Williams
(Appointed 29 November 2021)
Mr C Vibrans
(Appointed 29 November 2021)
Mr J Peters
(Appointed 29 November 2021)
Mrs M Potter
(Deceased 2 March 2022)

Related parties

All issued shares of Eldonian Leisure Limited are owned by Eldonian Community Trust Limited. Eldonian Leisure Limited is responsible for administering and running the Eldonian Village Hall which did not trade for the year ended 29 September 2022.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

 

 

 

On behalf of the board of trustees

Mr G Sterritt
Trustee
Dated: 7 November 2023
ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 29 SEPTEMBER 2022
- 3 -

The trustees, who are also the directors of Eldonian Community Trust Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 29 SEPTEMBER 2022
- 4 -
Unrestricted funds
Unrestricted funds
2022
2021
Notes
£
£
Income from:
Donations and legacies
3
-
16,325
Investments
4
-
1
Total income
-
16,326
Expenditure on:
Charitable activities
5
2,706
620
Net movement in funds
(2,706)
15,706
Fund balances at 30 September 2021
9,631
(6,075)
Fund balances at 29 September 2022
6,925
9,631

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT
29 SEPTEMBER 2022
29 September 2022
- 5 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
9
-
2
Investments
10
2
2
2
4
Current assets
Debtors
13
5,079
2,750
Cash at bank and in hand
6,345
9,878
11,424
12,628
Creditors: amounts falling due within one year
14
(4,501)
(3,001)
Net current assets
6,923
9,627
Total assets less current liabilities
6,925
9,631
Income funds
Unrestricted funds
6,925
9,631
6,925
9,631

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 29 September 2022.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 7 November 2023
Mr G Sterritt
Trustee
Company Registration No. 02147755
ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2022
- 6 -
1
Accounting policies
Charity information

Eldonian Community Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Eldonian Village Hall, Burlington Street, Liverpool, L3 6LG.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

 

The Charity has also taken advantage of the exemption not to prepare group accounts by virtue of it's size.

1.2
Going concern

The financial statements have been prepared on the going concern basis that assumes that the charity will continue to receive the support of creditors and funders. The charity is aware of past deficits incurred and has implemented plans to address this. Amongst these are actions to secure more funding and other efficiency strategies. The balance sheet shows a surplus of funds at 29 September 2022. At the time of approving the financial statements the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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, including support costs involved in undertaking each activity. Direct costs attributable to 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 to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 7 -

Expenditure reflects all amounts paid and accrued during the year. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

 

Governance costs are those costs associated with the governance arrangements of the charity, which pertain to its strategic management as distinct from those of the provision of charitable activities. The costs allocated to this heading include fees for the preparation of the financial statements.

1.6
Tangible fixed assets

All assets costing more than £250 are capitalised at cost.

 

Depreciation is charged on these assets to write off the costs of the assets over their estimated useful lives at the following rates:

 

Computers
25% p.a. on a straight line basis
Fixtures, fittings & equipment
25% p.a. on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Fixed asset investments

The wholly-owned trading subsidiary, Eldonian Leisure Limited is incorporated in the United Kingdom. The charity owns the two issued £1 ordinary shares of the company. The subsidiary has been valued in the accounts at the original nominal value.

1.8
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.10
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 8 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11

Taxation

The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Donations and gifts
-
16,325
ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2022
- 9 -
4
Investments
Total
Unrestricted
funds
2022
2021
£
£
Interest receivable
-
1
5
Charitable activities
Support of the local community
2022
2021
£
£
Depreciation and impairment
2
-
Share of governance costs (see note 6)
2,704
620
2,706
620
6
Support costs
Governance costs
2022
2021
Basis of allocation
£
£
£
Professional fees
1,500
1,500
618
*
Legal and professional
1,200
1,200
-
*
Bank charges
4
4
2
*
2,704
2,704
620
Analysed between
Charitable activities
2,704
2,704
620

* Governance costs have been recharged to Support of the Local Community activity.

7
Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year (2021: £nil), and no trustees were reimbursed expenses (2021: £nil).

8
Employees
There were 0 employees during the year ended 29 September 2022. The trustees are the key management of the charity.

 

ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2022
- 10 -
9
Tangible fixed assets
Computers
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 30 September 2021
1,357
417
1,774
At 29 September 2022
1,357
417
1,774
Depreciation and impairment
At 30 September 2021
1,356
416
1,772
Depreciation charged in the year
1
1
2
At 29 September 2022
1,357
417
1,774
Carrying amount
At 29 September 2022
-
-
-
At 29 September 2021
1
1
2

 

10
Fixed asset investments
Other investments
£
Cost or valuation
At 1 October 2021 & 30 September 2022
2
Carrying amount
At 29 September 2022
2
At 29 September 2021
2
2022
2021
Other investments comprise:
Notes
£
£
Investments in subsidiaries
11
2
2
ELDONIAN COMMUNITY TRUST LIMITED
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2022
- 11 -
11
Subsidiaries
Details of the charity's subsidiary at 29 September 2022 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Eldonian Leisure Limited
England and Wales
The administration and running of the Eldonian Village Hall - Not Trading
Ordinary
100.00
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
Eldonian Leisure Limited
-
2
12
Financial instruments
2022
2021
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
11,424
12,628
Equity instruments measured at cost
2
2
Carrying amount of financial liabilities
Measured at amortised cost
4,501
3,001
13
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
5,079
2,750
14
Creditors: amounts falling due within one year
2022
2021
£
£
Accruals
4,501
3,001
15
Related party transactions

During the year transactions took place with Eldonian Leisure Limited of £2,329 (2021: £2,750)

 

There were no other related party transactions during the year (2021: none)

16
Company Limited by gurantee

The charitable company is limited by guarantee and has no share capital. In the event of the charitable company being wound up, the liability of the members in respect of their guarantee is limited to £1.

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