Charity registration number 1122740
Company registration number 06030659 (England and Wales)
HARWICH CONNEXIONS COMMUNITY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
HARWICH CONNEXIONS COMMUNITY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr Richard Colley
Cheryl Rogers
Zoe Orr
Charity number
1122740
Company number
06030659
Registered office
Park Pavilion
Barrack Lane
Harwich
Essex
CO12 3NS
Independent examiner
Gascoynes
Gascoynes House
Moseleys Farm Business Centre
Fornham All Saints
Suffolk
IP28 6JY
HARWICH CONNEXIONS COMMUNITY TRUST
CONTENTS
Page
Trustees' report
1
Independent examiner's report
2
Statement of financial activities
3
Balance sheet
4
Notes to the financial statements
5 - 10
HARWICH CONNEXIONS COMMUNITY TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

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 year ended 31 March 2023. The trustees have adopted the provisions of 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 objects of the company shall be for the benefit of the inhabitants of Harwich and its environs, by associating together the said inhabitants and local authorities, voluntary and other organisations in a common effort to:

- Advance education, relieve poverty and sickness with the object of improving the condition of life for the said inhabitants.

-To establish, use and maintain common facilities, services and activities for the public benefit (whether alone or in co-operation with any local authority or other person or body) in furtherance of the above objectives.

Strategic report
Achievements and performance
Financial review

During the year the trustees focused on:

 

- Developing and maintaining the quality of the organisation.

- Providing and promoting the benefits of the low cost start up business units offered at the Enterprise Centre, and maintaining a good rate of occupancy.

- Supporting the activities of Harwich Connexions Transport Cooperative Ltd by offering grant support towards a new community bus.

- Supporting the activities of the Ark Family Centre in Harwich by continuing to offer a very economic rent for the buildings at 73 Main Road Harwich.

- And providing the Ark Family Centre with grant support towards the cost of providing services for children in the Harwich area.

- Continuing to support the activities and staff of the trading subsidiary known as Harwich Connexions Noah's Nursery Ltd.

- Continuing to work with partner organisations to provide opportunities for children and young people in the Harwich area, including the Mayflower Legacy Tall Ships Voyage, and brownie, scouting, guiding groups.

 

Risk Management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure the appropriate controls are in place to provide the reasonable assurance against fraud and error.

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Related parties

The company was under the control of the Trustees throughout the current and previous year.

 

No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.

The trustees' report was approved by the Board of Trustees.

Mr Richard Colley
Trustee
10 November 2023
HARWICH CONNEXIONS COMMUNITY TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF HARWICH CONNEXIONS COMMUNITY TRUST
- 2 -

I report to the trustees on my examination of the financial statements of Harwich Connexions Community Trust (the company) for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Gascoynes
Chartered Accountants
Gascoynes House
Moseleys Farm Business Centre
Fornham All Saints
Suffolk
IP28 6JY
Dated: 10 November 2023
HARWICH CONNEXIONS COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
2
9,066
3,696
Investments
3
6,032
5,298
Total income
15,098
8,994
Expenditure on:
Charitable activities
4
16,662
17,242
Net expenditure for the year/
Net movement in funds
(1,564)
(8,248)
Fund balances at 1 April 2022
263,705
271,953
Fund balances at 31 March 2023
262,141
263,705

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.
HARWICH CONNEXIONS COMMUNITY TRUST
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 4 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
7
232,593
232,593
Current assets
Cash at bank and in hand
43,448
32,837
Creditors: amounts falling due within one year
8
(13,900)
(1,725)
Net current assets
29,548
31,112
Total assets less current liabilities
262,141
263,705
Income funds
Unrestricted funds
262,141
263,705
262,141
263,705

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

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.

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 10 November 2023
Mr Richard Colley
Trustee
Company registration number 06030659
HARWICH CONNEXIONS COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
1
Accounting policies
Charity information

Harwich Connexions Community Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Park Pavilion, Barrack Lane, Harwich, Essex, CO12 3NS.

1.1
Accounting convention

The financial statements have been prepared in accordance with the company'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 company is a Public Benefit Entity as defined by FRS 102.

 

The company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the company 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.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the company.
1.4
Income
Income is recognised when the company 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.

Cash donations are recognised on receipt. Other donations are recognised once the company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
HARWICH CONNEXIONS COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
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.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Investment Property
Not depreciated

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
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8
Impairment of fixed assets

At each reporting end date, the company 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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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.

HARWICH CONNEXIONS COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -
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 company’s contractual obligations expire or are discharged or cancelled.

1.10
Taxation

The charity is exempt from corporation tax on its charitable activities.

1.11
Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives 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
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
9,066
3,696
HARWICH CONNEXIONS COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
3
Investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Rental income
6,030
5,298
Interest receivable
2
-
6,032
5,298
4
Charitable activities

Expenditure

Expenditure

2023
2022
£
£

Insurance

1,049
1,211

Sundries

35
35

Grants to institutions

13,350
13,800

Rates and water

340
133

Accountancy and legal fees

1,888
2,063
16,662
17,242
5
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the company during the year.
HARWICH CONNEXIONS COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
6
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
7
Tangible fixed assets
Investment Property
£
Cost
At 1 April 2022
232,593
At 31 March 2023
232,593
Carrying amount
At 31 March 2023
232,593
At 31 March 2022
232,593

 

8
Creditors: amounts falling due within one year
2023
2022
£
£
Grant offers not yet drawn down by applicants
12,100
-
Accruals and deferred income
1,800
1,725
13,900
1,725
9
Related party transactions

There were no related party transactions during the year ended 31 March 2023.

HARWICH CONNEXIONS COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
10
Company limited by guarantee

The company does not have any share capital, but has members who are guarantors instead of shareholders.

 

Limitation of liability takes the form of a guarantee from its members to pay a nominal sum in the event of the company being wound up while they are a member or within one year of their ceasing to be a member. The amount of money that is guaranteed can be as little as £1 and will be stated within the constitution of the company (the Memorandum & Articles of Association).

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