Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-31The activities to be undertaken to achieve the charitable Company's objectives include: the provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing; the maintenance, improvement or provision of public amenities; the provision or assistance in the provision of community facilities to be available to all sections of the community without distinction including use for meetings, lectures and classes and/or other forms of recreation and leisure time occupations with the object of improving the conditions of life for all those who use the facilities; the provision or assistance in the provision of recreational facilities for the public at large and/or those who, by reasons of their youth, age, infirmity or disablement, poverty or social and economic circumstances, have need of such facility; the protection or conservation of the environment; the creation of training and employment opportunities by the provision of workspace, buildings and/or land for use on favourable terms; the provision of financial assistance, technical assistance, or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help in setting up their own business or to existing business; and such other means as may from time to time be determined subject to prior consent of the Charity Commission.In furtherance of the objectives and the above activities, the charitable Company shall have the various powers as mentioned below: Strategies actively deployed during the year under review: to own and procure the management of affordable housing; to own and manage the community facilities in the short and/or long term; to own and maintain a multi-use games area; to manage open spaces, footways and cycle ways. to work in conjunction with a local provider to agree the routing and frequency of a local bus service and fund the operation of that service; and employ and pay full-time and part-time staff (who shall not be trustees) to supervise, organise and carry on the work of the charity and also to advise and assist the board of trustees/directors. Strategies not actively deployed in the year but considered for the future: to more actively manage and reshape our woodland; and to repurpose and maintain ancillary buildings within Trust ownership. General strategies noted as available for use by the board at their discretion: to acquire or hire property of any kind, and any interests in or rights over property of any kind; to sell, dispose of, let, mortgage or charge any property of the company and to grant licences, options, rights and privileges in respect of, or otherwise deal with, all or any part of the property and rights of the company; to construct, maintain and alter buildings or erections; and to co-operate and enter into arrangements with any authorities, international, national, local or otherwise.The charitable Company will hold sufficient reserves to meet its needs. The total cash funds held by the charity at 31 March 2023 were £638,048 (2022: £503,263). These funds are unrestricted and available for the general purposes of the charity. The total reserves held by the charity at 31 March 2023 were £19,300,526 (2022: £18,473,218). Of these reserves, there is a designated fund of £18,481,298 (2022: £17,744,201) which relates to investment properties and other fixed assets donated. The remaining level of free reserves are £819,228 (2022: £729,017). The Trustees have acknowledged that a minimum level of free reserves are required against unfunded salaries / core running costs in a period of recovery should there be a signifiant indicent which impact on income. The appropriate level of reserves is considered to be one year of relevant costs which accumulates to £100,000 (2022: £80,000). The Trust is aware in its medium-term planning that it has discreet projects which may well require significant funding when implemented, which are: Overhaul of the woodland area, consideration of removal of old or damaged trees whilst also considering fresh plantings; Renovation or removal of the old perimeter fence around the estate; Refurbishment and repurposing of the redundant brick buildings nearer the northern entrance to the estate. Whilst the Board has not created any named restricted reserves to fund these projects, it is acknowledged that they are likely to create a significant draw against the general reserve when these projects are progressed. The accumulation of an increased balance on the general reserve is not considered excessive and will be smoothed out in the medium term. Additional to the major projects cited above, it is also acknowledged that our income generating assets (the housing stock and the Community Centre) are anticipated to have long lives and will require refurbishment or repair in due course which goes beyond day-to-day budgets for maintenance, for which accumulation of a reserve is entirely appropriate.The management of the charitable Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The Trust has now completed the “transitional period”, such that the Board shall now consist of at least three and not more than eleven individuals comprised as follows: up to two Central Bedfordshire Council trustees; one Slip End Parish Council trustee; one Caddington Parish Council trustee; and up to seven community trustees. The charitable Company must ensure that the community trustees shall at all times be in the majority. Trustees are nominated by the different groups mentioned above and the period of appointment is decided at this time. The appointment becomes effective when it is given in writing to the Chair. All trustees excluding community trustees will not be subject to the retirement by rotation provisions set out in the Act and shall continue to act as a trustee until: a new trustee has been nominated in their place; they have reached the end of the period of appointment; or they resign or are disqualified or removed pursuant to the Articles. The groups are entitled to remove a trustee by serving written notice to the Chair. Local authority groups shall not cause the Company to be a "controlled" or "connected entity" for the purposes of the Local Government and Housing Act 1989 or the Local Government and Public Involvement in Health Act 2007. Any person who is willing to act as community trustee, and is permitted by law and the Articles to do so, may be appointed by: ordinary resolution; or decision of the trustees. In selecting persons to be appointed as community trustees, the Trustees will take into consideration the benefits of appointing a person who is able to, by virtue of their personal or professional qualifications, make a contribution to the pursuit of the objectives or the management of the charitable Company. Trustees will follow best practice in relation to trustee recruitment, including any guidance issued by the Charity Commission from time to time and will ensure that the process includes an open advert placed on community notice boards in the Parishes of Slip End and Caddington, as well as local community facilities. Community trustees may be re-appointed by the Board at the end of each term of office.369464363694643638601052Investments are measured: at fair value with changes recognised in the Statement of Financial Activities incorporating Income and Expenditure Account if the shares are publicly traded or their fair value can otherwise be measured reliably; at cost less impairment for other investments.2023-03-3132022-04-01falseNo description of principal activity52023-03-31 09360904 2022-04-01 2023-03-31 09360904 2021-04-01 2022-03-31 09360904 2023-03-31 09360904 2022-03-31 09360904 2022-04-01 09360904 2021-04-01 09360904 c:CompanySecretary1 2022-04-01 2023-03-31 09360904 c:RegisteredOffice 2022-04-01 2023-03-31 09360904 d:Buildings 2022-04-01 2023-03-31 09360904 d:Buildings 2023-03-31 09360904 d:Buildings 2022-03-31 09360904 d:PlantMachinery 2022-04-01 2023-03-31 09360904 d:MotorVehicles 2022-04-01 2023-03-31 09360904 d:MotorVehicles 2023-03-31 09360904 d:MotorVehicles 2022-03-31 09360904 d:FurnitureFittings 2022-04-01 2023-03-31 09360904 d:OfficeEquipment 2022-04-01 2023-03-31 09360904 d:OfficeEquipment 2023-03-31 09360904 d:OfficeEquipment 2022-03-31 09360904 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 09360904 d:CurrentFinancialInstruments 2023-03-31 09360904 d:CurrentFinancialInstruments 2022-03-31 09360904 d:Non-currentFinancialInstruments 2023-03-31 09360904 d:Non-currentFinancialInstruments 2022-03-31 09360904 c:FRS102 2022-04-01 2023-03-31 09360904 c:Audited 2022-04-01 2023-03-31 09360904 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09360904 b:Trustee2 2022-04-01 2023-03-31 09360904 b:Trustee3 2022-04-01 2023-03-31 09360904 b:Trustee5 2022-04-01 2023-03-31 09360904 b:Trustee6 2022-04-01 2023-03-31 09360904 b:Trustee7 2022-04-01 2023-03-31 09360904 b:Trustee10 2022-04-01 2023-03-31 09360904 b:Trustee11 2022-04-01 2023-03-31 09360904 b:Trustee12 2022-04-01 2023-03-31 09360904 b:Trustee13 2022-04-01 2023-03-31 09360904 b:UnrestrictedFundsGeneral 2022-04-01 2023-03-31 09360904 b:UnrestrictedFundsGeneral 2023-03-31 09360904 b:UnrestrictedFundsGeneral 2022-03-31 09360904 2 2023-03-31 09360904 2 2022-03-31 09360904 b:Activity3 2022-04-01 2023-03-31 09360904 b:Activity3 2021-04-01 2022-03-31 09360904 b:Activity3 b:TotalUnrestrictedFunds 2022-04-01 2023-03-31 09360904 b:TotalUnrestrictedFunds 2023-03-31 09360904 b:TotalUnrestrictedFunds 2022-03-31 09360904 c:FullAccounts 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 09360904
Charity number: 1166966










CASE COMMUNITY TRUST
(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
 

CONTENTS



Page
Reference and Administrative Details of the Charity, its Trustees and Advisers
 
1
Trustees' Report
 
2 - 9
Independent Auditors' Report
 
10 - 13
Statement of Financial Activities
 
14
Balance Sheet
 
15
Statement of Cash Flows
 
16
Notes to the Financial Statements
 
17 - 34

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2023


Trustees
  
S. Baird
M. Russell
R. Gray
S. Patterson
A. Jackson
D. James
V. Malone
Y. St. John
J. Young


Company registered number

09360904

Charity registered number

1166966

Registered office

The Lyons Community Centre33a Mallard CrescentCaddingtonLutonBedfordshireLU1 4FG

Company secretary

K. Collins

Independent auditors

Wilder Coe Ltd1st Floor Sackville House143-149 Fenchurch StreetLondonEC3M 6BL

Page 1

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2023

The Trustees (who are also directors of the charity for the purposes of the Company Act) present their annual report together with the audited financial statements of Case Community Trust (the charitable Company) for the  1 April 2022 to 31 March 2023The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the Company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 is not required.
 

Objectives and activities
 

a. Policies and objectives
 

The principal objective of the charitable Company as set out in the governing document is the promotion for the public benefit of urban or rural regeneration in areas of social and economic deprivation (and in particular the parishes of Slip End and Caddington). 
 

In setting objectives, administration of the charity and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit section 4 of the Charities Act 2011.
 

b. Activities for achieving objectives
 

The activities to be undertaken to achieve the charitable Company's objectives include:
 
the provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing;
 
the maintenance, improvement or provision of public amenities;
 
the provision or assistance in the provision of community facilities to be available to all sections of the community without distinction including use for meetings, lectures and classes and/or other forms of recreation and leisure time occupations with the object of improving the conditions of life for all those who use the facilities;
 
the provision or assistance in the provision of recreational facilities for the public at large and/or those who, by reasons of their youth, age, infirmity or disablement, poverty or social and economic circumstances, have need of such facility;
 
the protection or conservation of the environment;
 
the creation of training and employment opportunities by the provision of workspace, buildings and/or land for use on favourable terms;
 
the provision of financial assistance, technical assistance, or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help in setting up their own business or to existing business; and
 
such other means as may from time to time be determined subject to prior consent of the Charity Commission.
Page 2

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
 
Objectives and activities (continued)

 

c. Strategies for achieving objectives
 

In furtherance of the objectives and the above activities, the charitable Company shall have the various powers as mentioned below: 
Strategies actively deployed during the year under review:
to own and procure the management of affordable housing;
to own and manage the community facilities in the short and/or long term;
to own and maintain a multi-use games area;
to manage open spaces, footways and cycle ways. 
to work in conjunction with a local provider to agree the routing and frequency of a local bus service and fund the operation of that service; and
employ and pay full-time and part-time staff (who shall not be trustees) to supervise, organise and carry on the work of the charity and also to advise and assist the board of trustees/directors.

Strategies not actively deployed in the year but considered for the future:
to more actively manage and reshape our woodland; and
to repurpose and maintain ancillary buildings within Trust ownership. 

General strategies noted as available for use by the board at their discretion:
to acquire or hire property of any kind, and any interests in or rights over property of any kind;
to sell, dispose of, let, mortgage or charge any property of the company and to grant licences, options, rights and privileges in respect of, or otherwise deal with, all or any part of the property and rights of the company;
to construct, maintain and alter buildings or erections; and
to co-operate and enter into arrangements with any authorities, international, national, local or otherwise.
 

Page 3

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
 
Achievements and performance
 

a. Review of activities
 

With the Caddington Woods estate now fully built out, the Trust has continued to develop its role within the community.  In the financial year under review it has:
 
continued to refine the organisational structure, policies and procedures;

engaged with various hirers to ensure that a rich and varied mix of activities take place at the Community Centre and promoted both the building and the activities within to the wider community;

liaised with the Parish Councils of both Slip End and Caddington;

relaunched the bus service as an all-day, 6 days per week, service and maintained a dialogue with the recently established Bus Users Group in the area;

continued our maintenance of the play area, multi-use games area and the woodland in the ownership of CaSE.  Our stewardship of these areas encompasses making sure they are kept safe and attractive but also considering future opportunities for enhancement; and

further development of our working relationship with the managing agent (Central Bedfordshire Council’s “LetsRent” private lettings team) to look after our forty-six rental properties on the estate and the tenants living in those properties.
 

b. Fundraising activities/income generation
 

The trust now owns a total of 46 residential properties, in line with the original intentions. As the estate is now fully built out, our housing stock portfolio is considered to be complete.
Income generation is primarily from affordable housing donated to the charitable Company. The amounts received from rental income was £469,085 (
2022: £441,530).
The secondary source of income is the hire charges generated by the Lyons Community Centre, which totalled £72,533 (
2022: £58,604).
 

c. Investment policy and performance
 

As set out in the governing document, the charitable Company can invest the monies of the charitable Company not immediately required for its objectives in investments, securities or property as I may be thought fit.
This was considered by the Trustees during 2018/2019 and £200,000 of funds were invested in a low risk investment fund at the year end with an expected 5-6% return going forward. The value of these investments at 31 March 2023 was £145,222 (
2022: £200,570), due to a combination of additions and disposals within the year.  As at 31 March 2023, in addition to the amount stated with the investment fund an additional £76,649 was held by the investment manager as a cash balance. 
Subsidiary companies can also be established to assist or act as agents for the Company and can acquire and hold shares, stocks, debentures, debenture stock or other securities or obligations of any other company. 
 

Page 4

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
 
Achievements and performance (continued)

d. Going concern
 

Following the COVID-19 disruption to events in 2021 and the gradual recovery during 2022, activities continued to stabilise during the year under review.
Usage of the community centre is now well established and the trust no longer needs to focus on building hire income but rather on the mix of different hirers that we are able to attract whilst maintaining steady income levels. The bus service re-launched with its new timetable at the start of the 2023 calendar year, has been well received by the community and passenger numbers continue to grow.

After making appropriate enquiries, the Trustees have a reasonable expectation that the charitable Company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
 

Financial review
 

a. Reserves policy
 

The charitable Company will hold sufficient reserves to meet its needs. 
The total cash funds held by the charity at 31 March 2023 were £638,048 (
2022: £503,263). These funds are unrestricted and available for the general purposes of the charity.
The total reserves held by the charity at 31 March 2023 were £19,300,526 (
2022: £18,473,218). Of these reserves, there is a designated fund of £18,481,298 (2022: £17,744,201) which relates to investment properties and other fixed assets donated. The remaining level of free reserves are £819,228 (2022: £729,017). 
The Trustees have acknowledged that a minimum level of free reserves are required against unfunded salaries / core running costs in a period of recovery should there be a signifiant indicent which impact on income. The appropriate level of reserves is considered to be one year of relevant costs which accumulates to £100,000 (
2022: £80,000). 
The Trust is aware in its medium-term planning that it has discreet projects which may well require significant funding when implemented, which are:
Overhaul of the woodland area, consideration of removal of old or damaged trees whilst also considering fresh plantings;
Renovation or removal of the old perimeter fence around the estate;
Refurbishment and repurposing of the redundant brick buildings nearer the northern entrance to the estate.

Whilst the Board has not created any named restricted reserves to fund these projects, it is acknowledged that they are likely to create a significant draw against the general reserve when these projects are progressed. The accumulation of an increased balance on the general reserve is not considered excessive and will be smoothed out in the medium term.
Additional to the major projects cited above, it is also acknowledged that our income generating assets (the housing stock and the Community Centre) are anticipated to have long lives and will require refurbishment or repair in due course which goes beyond day-to-day budgets for maintenance, for which accumulation of a reserve is entirely appropriate.
 

Page 5

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
 
Financial review (continued)

b. Principal funding
 

The initial principal funding of the charitable company was by way of donations received from General Motors and Redrow plc. Subsequently, certain affordable housing units built by Redrow plc were donated into the charitable Company in three tranches during earlier years.  Rental income from these houses will be used to meet the charitable Company’s objectives.

Plans for future periods
 

a. Future developments
 

The Community Centre now has a diverse range of regular bookers and irregular hirers, and the Trust is keen to maintain this variety of different uses. 
The appointment of a new Trust Manager has led to a review of support staff and their responsibilities, with positive outcomes. 
As of 2023, the bus service has been relaunched with a much more comprehensive and predictable service; we are keen to maintain this well used route and timetable. 
With all of our anticipated properties now in the ownership of the Trust, we are looking at our relationship with the managing agents and also our tenants to see how we can make this more efficient for all involved and continue to foster a positive sense of community. 
 

Structure, governance and management
 

a. Constitution
 

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 18 December 2014. 
The Company's charitable number is 1166966 and its registered company number is 09360904. The charitable Company is registered at the following address: 
The Lyons Community Centre
33a Mallard Crescent
Caddington, Luton
Bedfordshire
LU1 4FG
 

b. Methods of appointment or election of Trustees
 

The management of the charitable Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
The Trust has now completed the “transitional period”, such that the Board shall now consist of at least three and not more than eleven individuals comprised as follows:
 
up to two Central Bedfordshire Council trustees;
one Slip End Parish Council trustee;
one Caddington Parish Council trustee; and
up to seven community trustees.

The charitable Company must ensure that the community trustees shall at all times be in the majority. Trustees are nominated by the different groups mentioned above and the period of appointment is decided at this time. The appointment becomes effective when it is given in writing to the Chair.
All trustees excluding community trustees will not be subject to the retirement by rotation provisions set out in the
Page 6

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
 
Structure, governance and management (continued)

Act and shall continue to act as a trustee until:
 
a new trustee has been nominated in their place;
they have reached the end of the period of appointment; or
they resign or are disqualified or removed pursuant to the Articles.

The groups are entitled to remove a trustee by serving written notice to the Chair.
Local authority groups shall not cause the Company to be a "controlled" or "connected entity" for the purposes of the Local Government and Housing Act 1989 or the Local Government and Public Involvement in Health Act 2007.
Any person who is willing to act as community trustee, and is permitted by law and the Articles to do so, may be appointed by:
 
ordinary resolution; or 
decision of the trustees.

In selecting persons to be appointed as community trustees, the Trustees will take into consideration the benefits of appointing a person who is able to, by virtue of their personal or professional qualifications, make a contribution to the pursuit of the objectives or the management of the charitable Company.
Trustees will follow best practice in relation to trustee recruitment, including any guidance issued by the Charity Commission from time to time and will ensure that the process includes an open advert placed on community notice boards in the Parishes of Slip End and Caddington, as well as local community facilities.
Community trustees may be re-appointed by the Board at the end of each term of office.
 

c. Policies adopted for the induction and training of Trustees
 

Trustees are inducted and trained on a one on one basis within a standard framework according to their needs and experience.
 

Page 7

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
 
Structure, governance and management (continued)

d. Organisational structure and decision making
 

The business of the charitable Company shall be managed by the board of Trustees who may pay all expenses incurred in the formation of the charitable Company, and may exercise such powers of the charitable Company as required. 
The board will meet at least four times in a calendar year. 
Decisions will be made by a majority of the votes. 
The Trustees shall elect a Chair who shall hold office until the board meeting following the first anniversary of his appointment unless, by a majority vote, he is removed before that time. The Trustees are permitted to re-elect the existing Chair or select another trustee to act as Chair. 
The Trustees may appoint one or more sub-committees consisting of at least one trustee for the purpose of making an inquiry or supervising or performing any function or duty which in the opinion of the board would be more conveniently undertaken or carried out by a sub-committee.
The Trustees who served during the year were as follows:
K. Collins (resigned 6 July 2023)
S. Baird
M. Russell 
D. Bent (resigned 23 March 2023)
R. Gray
S. Patterson
A. Jackson
H. Brind (resigned 31 March 2023) 
The following Trustees were appointed after the year end: 
D. James (appointed 13 June 2023)
V. Malone (appointed 6 July 2023)
Y. St. John (appointed 13 June 2023)
J. Young (appointed 6 July 2023)
 

e. Risk management
 

The Trustees have assessed the major risks to which the charitable Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
 

Page 8

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
 
Trustees' responsibilities statement
 

The Trustees (who are also directors of Case Community Trust for the purposes 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable Company and of the incoming resources and application of resources, including its income and expenditure, of the charitable Company for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP;
make judgments and accounting estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.


The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable Company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable Company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


Disclosure of information to auditors
 

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

so far as that Trustee is aware, there is no relevant audit information of which the charitable Company''s auditors are unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information.
 

Auditors
 

The auditorsWilder Coe Ltdhave indicated their willingness to continue in office. The Designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
 
 

Approved by order of the members of the board of Trustees on 12 April 2024 and signed on their behalf by:
 




R. Gray
Trustee
Page 9

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CASE COMMUNITY TRUST
 

Opinion


We have audited the financial statements of Case Community Trust (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:

give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.


Page 10

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CASE COMMUNITY TRUST (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
the Trustees' Report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception


In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.


We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.


Responsibilities of trustees


As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
 

Page 11

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CASE COMMUNITY TRUST (CONTINUED)


Auditors' responsibilities for the audit of the financial statements


Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.
The following laws and regulations were identified as being of significance to the entity:

Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, company law, charity law and tax legislation.

Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements in particular employment legislation, health and safety and residential letting regulations. 

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 12

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CASE COMMUNITY TRUST (CONTINUED)


Use of our report
 

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.





Charlotte Willmore BFP ACA (Senior Statutory Auditor)
for and on behalf of

 
Wilder Coe Ltd
Chartered Accountants and Statutory Auditors
1st Floor Sackville House
143-149 Fenchurch Street
London
EC3M 6BL

Date: 12 April 2024
Page 13

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)


 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2023


Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
Note
£
£
£

Income from:






Donations and legacies

3

677

677

4,278,586
 
Charitable activities

4

75,021

75,021

58,604
 
Investments:

5




Income from investment properties



469,085

469,085

441,530
 
Income from fixed asset investments



361

361

2,481
 
Other income


5,756

5,756

8,460
 
Total income
550,900
550,900
4,789,661
Expenditure on:






Raising funds:

6




Investment management



86,566

86,566

65,210
 
Charitable activities:

7




Housing management



79,204

79,204

13,057
 
Facilities management



91,506

91,506

75,651
 
Community centre costs



118,673

118,673

114,714
 
Community services



11,969

11,969

17,237
 
Bus services



108,336

108,336

89,169
 
Total expenditure
496,254
496,254
375,038

Net income before net gains on investments

  

54,646

54,646

4,414,623
 
Net gains on investments

  

772,662

772,662

601,244
 
Net income before other recognised gains and losses

  

827,308

827,308

5,015,867
 
Net income

  

827,308

827,308

5,015,867
 

Reconciliation of funds:

  




Total funds brought forward

  

18,473,218

18,473,218

13,457,351
 
Total funds carried forward
  
19,300,526
19,300,526
18,473,218

The notes on pages 17 to 34 form part of these financial statements.

Page 14

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 09360904


 
BALANCE SHEET
AS AT 31 MARCH 2023


As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 11 
1,037,205
1,061,551

Investments
 12 
145,222
200,570

Social investments
 13 
17,478,500
16,697,750

  
18,660,927
17,959,871

Current assets
  

Debtors
 14 
71,117
57,836

Cash at bank and in hand
  
638,048
503,263

  
709,165
561,099

Creditors: amounts falling due within one year
 15 
(69,566)
(47,752)

Net current assets 
  
 
 
639,599
 
 
513,347

Net assets
  
19,300,526
18,473,218


Charity funds
  

Unrestricted funds
 17 
19,300,526
18,473,218

Total funds
  
19,300,526
18,473,218




The charitable Company's financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 12 April 2024 and signed on their behalf by:




R. Gray
Trustee

The notes on pages 17 to 34 form part of these financial statements.

Page 15

 
CASE COMMUNITY TRUST
 
(A Company Limited by Guarantee)


 
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023

2023
2022
Note
£
£

Cash flows from operating activities
  

Net cash provided by operating activities

 19 

106,832
194,171

Cash flows from investing activities
  

Purchase of tangible fixed assets
  
(19,307)
(6,936)

Proceeds from sale of investments
  
75,693
73,089

Purchase of investments
  
(28,433)
(45,554)

Net cash used in investing activities

  

27,953
20,599

Change in cash and cash equivalents in the year
  
 
134,785
 
214,770

Cash and cash equivalents brought forward
  
503,263
288,493

Cash and cash equivalents carried foward
 20 
638,048
503,263

The notes on pages 17 to 34 form part of these financial statements

Page 16

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Case Community Trust (company number: 09360904), having its registered office and trading address at The Lyons Community Centre, 33a Mallard Crescent, Caddington, Luton, Bedfordshire, LU1 4FG, is a private charitable company limited by guarantee, incorporated in England and Wales

2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charitable Company's functional and presentational currency is Pound Sterling (GBP). 

Case Community Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

  
2.2

Company status

The charitable Company is a company limited by guarantee. The members of the charitable Company are the Trustees named on page 1. In the event of the charitable Company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable Company.




Page 17

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.3

Going concern

There are no material uncertainties regarding going concern.

  
2.4

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

  
2.5

Income

All income is recognised once the charitable Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income includes grants and income from investments which includes rental income.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income from investments is recognised to the extent that it is probable that the economic benefits will flow to the charitable Company and the turnover can be reliably measured. Income is measured as the fair value of the consideration received or receivable.
Incoming resources from charitable trading activity is accounted for in the period in which is it receivable being when the hire of the community centre takes place. 

  
2.6

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. 
Governance costs are those incurred in connection with administration of the charitable Company  and compliance with constitutional and statutory requirements. Support costs are those that are incurred directly in support of expenditure on the objects of the charitable Company and include project management fees. 

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Page 18

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.6

Expenditure (continued)

Charitable activities and governance costs are costs incurred on the charitable Company's operations, including support costs and costs relating to the governance of the charitable Company apportioned to charitable activities.
Investment management costs are those costs directly attributable to the investment income received from rental properties and includes management fees and repairs and maintenance costs. All other associated costs are included within expenses relating to charitable activities. 

 
2.7

Tangible fixed assets and depreciation

All assets costing more than £250 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Electrical equpment
-
40%
reducing balance
Furniture & fittings
-
30%
reducing balance
Long life assets
-
4%
straight line

  
2.8

Social investments

Social investments comprise freehold land and buildings. They are initially measured at cost, included related transaction costs where applicable. 
After initial recognition, social investments are carried at fair value, based on market value. The changes to fair value and impairments are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account. 
Associated income is included within investment income and expenditure within investment management costs in the Statement of Financial Activities incorporating Income and Expenditure Account. 

  
2.9

Investments

Investments are measured:
 
at fair value with changes recognised in the Statement of Financial Activities incorporating Income and Expenditure Account if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for other investments.

Page 19

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.10

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

  
2.11

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


2.12

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charitable Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

  
2.13

Financial instruments

The charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

  
2.14

Taxation

The charitable Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charitable company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

  
2.15

Restatement of prior year comparatives

The prior year comparatives on the balance sheet have been restated as an adjustment has been made to show the investment properties as social investments. The full investment properties figure has been reclassified. The trustees consider that this shows a more appropriate classification reflecting the nature of the investments. 

Page 20

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.

Income from donations and legacies




Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
£
£
£
 


 
Corporate donations

-

-

4,260,000
 
Local council grants

677

677

18,586
 


677
677
4,278,586

Local council grants include COVID-19 support including business rates grants and business support grants totalling £Nil (2022: £18,065). 


4.

Income from charitable activities




Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
£
£
£




Income from community centre lettings

75,021

75,021

58,604
 


5.

Investment income




Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
£
£
£




Local investment properties

469,085

469,085

441,530
 
Investment fund

361

361

2,481
 


469,446
469,446
444,011

Page 21

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.

Analysis on investment management costs




Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
£
£
£




Management fees

71,899

71,899

62,118
 
Repairs and maintenance

14,667

14,667

3,092
 


86,566
86,566
65,210


7.

Analysis of expenditure on charitable activities


Summary by fund type




Unrestricted funds
2023
Total
2023
Total
2022
£
£
£




Housing Management

34,521

34,521

13,057
 
Facilities Management

97,008

97,008

75,651
 
Community Centre

149,602

149,602

114,714
 
Community Services

18,846

18,846

17,237
 
Bus Services

109,711

109,711

89,169
 


409,688
409,688
309,828

Page 22

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.

Analysis of expenditure by activities




Activities undertaken directly
2023
Support costs
2023
Total
funds
2023
£
£
£




Housing Management

23,519

11,002

34,521

Facilities Management

91,506

5,502

97,008

Community Centre

118,673

30,929

149,602

Community Services

11,969

6,877

18,846

Bus Services

108,336

1,375

109,711



354,003
55,685
409,688





Activities undertaken directly
2022
Support
costs
2022
Total
funds
2022
£
£
£




Housing Management

9,312

3,745

13,057

Facilities Management

73,695

1,956

75,651

Community Centre

89,593

25,121

114,714

Community Services

9,896

7,341

17,237

Bus Services

88,633

536

89,169



271,129
38,699
309,828


Page 23

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.Analysis of expenditure by activities (continued)

Analysis of direct costs





Housing Management
2023
Facilities Management
2023
Community Centre
2023
Community Services
2023
£
£
£
£





Insurance

6,394

198

-

-

Council tax

-

-

-

-

Community initiatives

-

-

-

5,814

Landscape management

-

82,105

-

-

Heritage path

-

-

-

-

Centre operation

-

-

51,459

-

Depreciation

-

4,279

39,374

-

Bus service

-

-

-

-

Management

9,847

4,924

27,681

6,155

Legal and professional

-

-

159

-

Bad debt provision

7,278

-

-

-



23,519
91,506
118,673
11,969



Bus Services
2023
Total
funds
2023
£
£



Insurance

-

6,592

Council tax

-

-

Community initiatives

-

5,814

Landscape management

-

82,105

Heritage path

-

-

Centre operation

-

51,459

Depreciation

-

43,653

Bus service

107,105

107,105

Management

1,231

49,838

Legal and professional

-

159

Bad debt provision

-

7,278



108,336
354,003





Page 24

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Housing Management
2022
Facilities Management
2022
Community Centre
2022
Community Services
2022
£
£
£
£





Insurance

5,613

448

-

-

Council tax

497

-

-

-

Community initiatives

-

-

-

3,620

Landscape management

-

58,836

-

-

Heritage path

-

8,460

-

-

Centre operation

-

-

30,135

-

Depreciation

-

4,279

37,605

-

Bus service

-

-

-

-

Management

3,202

1,672

21,477

6,276

Legal and professional

-

-

376

-

Bad debt provision

-

-

-

-



9,312
73,695
89,593
9,896



Bus Services
2022
Total
funds
2022
£
£



Insurance

-

6,061

Council tax

-

497

Community initiatives

-

3,620

Landscape management

-

58,836

Heritage path

-

8,460

Centre operation

-

30,135

Depreciation

-

41,884

Bus service

88,175

88,175

Management

458

33,085

Legal and professional

-

376

Bad debt provision

-

-



88,633
271,129

Page 25

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.Analysis of expenditure by activities (continued)

Analysis of support costs

The charitable Company identifies the costs of its support and governance functions. The costs are then apportioned between the five main charitable activities undertaken in the year. 





Housing Management
2023
Facilities Management
2023
Community Centre
2023
Community Services
2023
£
£
£
£





Support and governance costs

11,002

5,502

30,929

6,877




Bus Services
2023
Total
funds
2023
£
£



Support and governance costs

1,375

55,685






Housing Management
2022
Facilities Management
2022
Community Centre
2022
Community Services
2022
£
£
£
£





Support and governance costs

3,745

1,956

25,121

7,341




Bus Services
2022
Total
funds
2022
£
£



Support and governance costs

536

38,699


Page 26

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023



General support
2023
Governance function
2023
Total
funds
2023
£
£
£

Management

12,309

14,771

27,080

Auditors' remuneration

-

7,400

7,400

Trust insurance

-

1,394

1,394

Legal and professional

-

6,381

6,381

Sundry expenses

3,753

-

3,753

Marketing and webhosting

4,689

-

4,689

Office and stationery

3,210

-

3,210

Volunteer training and expenses

-

1,778

1,778



23,961
31,724
55,685




General support
2022
Governance function
2022
Total
funds
2022
£
£
£

Management

7,839

7,840

15,679

Auditors' remuneration

-

6,702

6,702

Trust insurance

-

1,568

1,568

Legal and professional

-

2,200

2,200

Sundry expenses

2,042

-

2,042

Marketing and webhosting

4,429

-

4,429

Office and stationery

3,062

-

3,062

Volunteer training and expenses

-

3,017

3,017



17,372
21,327
38,699


9.


Net income/(expenditure)

This is stated after charging:


2023
2022
£
£




Auditors' remuneration
5,610
5,100

During the year, no Trustees received any remuneration (2022 - £Nil).
During the year, no Trustees received any benefits in kind (
2022 - £Nil).
During the year, no Trustees received any reimbursement of exepenses (
2022 - £Nil).

Page 27

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Staff costs

2023
2022
£
£



Wages and salaries
95,122
56,110

Social security costs
2,435
574

Contribution to defined contribution pension schemes
1,476
2,513

99,033
59,197



The average number of persons employed by the Company during the year was as follows:


2023
As restated
2022

No.
No.


Employees
5
3

No employee received remuneration amounting to more than £60,000 in either year.

Employee numbers have been restated in the prior year as it included trustees who are not employees of the company. 


Page 28

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Tangible fixed assets




Long life assets
Electrical equipment
Fixtures & fittings
Total

£
£
£
£


Cost

At 1 April 2022
1,131,968
10,647
28,724
1,171,339

Additions
-
17,684
1,623
19,307

Disposals
-
-
(1,182)
(1,182)


At 31 March 2023

1,131,968
28,331
29,165
1,189,464


Depreciation

At 1 April 2022
88,554
6,835
14,399
109,788

Charge for the year
34,279
3,984
5,390
43,653

On disposals
-
-
(1,182)
(1,182)


At 31 March 2023

122,833
10,819
18,607
152,259


Net book value


At 31 March 2023
1,009,135
17,512
10,558
1,037,205


At 31 March 2022
1,043,414
3,812
14,325
1,061,551

Included within long life assets is land and buildings is freehold land at cost of £150,000 (2022: £150,000) which is not depreciated.

Page 29

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Fixed asset investments





Unlisted securities

£



Market value



At 1 April 2022
200,570


Additions
28,433


Disposals
(75,693)


Revaluations
(8,088)



At 31 March 2023

145,222




Net book value




At 31 March 2023
145,222



At 31 March 2022
200,570


13.

Social investments

Programme related investments
Total
£
£

Valuation

At 1 April 2022 (as restated)
16,697,750
16,697,750

Surplus on revaluation
780,750
780,750

At 31 March 2023
17,478,500
17,478,500


Social investments comprise:


Programme related investments



Property
2023
Total
2023
£
£
Housing


17,478,500

17,478,500

The value of the properties have been considered by the Trustees in reference to external valuations and market data.

Page 30

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

14.



Debtors


2023
2022
£
£


Due within one year

Trade debtors
53,572
51,780

Other debtors
10,153
-

Prepayments and accrued income
7,392
6,056

71,117
57,836


15.



Creditors: Amounts falling due within one year


2023
2022
£
£


Trade creditors
31,035
21,457

Other creditors
7,441
5,400

Accruals and deferred income
31,090
20,895

69,566
47,752


16.


Related party transactions

During the year, the Charity has engaged the services of Village Garden Services Limited for ongoing maintenance services totalling £53,313 (As restated 2022: £47,199). The company is the personal trading company of one of the Trustees, M.Russell. The transactions were at arms length.  
At 31 March 2023 there was £3,197 outstanding included within trade creditors (
As restated 2022: £10,992). 
There are no other related party transactions which require disclosure.





Page 31

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

17.

Statement of funds



Balance at 1 April 2022
£
Income
£
Expenditure
£
Gains/
(Losses)
£
Balance at 31 March 2023
£

Unrestricted funds






General Funds - all funds

729,017

550,900

(452,601)

(8,088)

819,228
 
Designated social investment fund

16,697,750

-

-

780,750

17,478,500
 
Designated other assets fund

1,046,451

-

(43,653)

-

1,002,798
 
Total funds


18,473,218
550,900
(496,254)
772,662
19,300,526

Designated funds are funds related to the donation received of properties and other assets to be held for investment purposes. This reserve will remain for the foreseeable fututure while the assets are still held.


18.

Analysis of net assets between funds




General
funds
2023
Designated funds
2023
Total
funds
2023
£
£
£

Fixed asset investments

145,222

18,515,705

18,660,927

Cash at bank and in hand

638,048

-

638,048

Other net current assets

71,117

-

71,117

Current liabilities

(72,054)

-

(72,054)



782,333
18,515,705
19,298,038

Analysis of net assets between funds - prior year




General
funds
2022
Designated funds
2022
Total
funds
2022
£
£
£

Fixed asset investments

200,570

17,759,301

17,959,871

Cash at bank and in hand

503,263

-

503,263

Other net current assets

57,836

-

57,836

Current liabilities

(47,752)

-

(47,752)



713,917
17,759,301
18,473,218

Page 32

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

19.



Reconciliation of net movement in funds to net cash flow from operating activities


2023
2022
£
£

Net income for the year (as per Statement of Financial Activities)



827,308

5,015,867

Adjustments for:

Depreciation charges
43,653
41,884

Gains on investments
(772,662)
(601,244)

Increase in debtors
(13,281)
(21,960)

Increase in creditors
21,814
19,624

Fixed assts donated
-
(4,260,000)

Net cash provided by operating activities
106,832
194,171



20.



Analysis of cash and cash equivalents


2023
2022
£
£

Cash in hand
638,048
503,263

Total cash and cash equivalents
638,048
503,263


21.



Analysis of changes in net debt





At 1 April 2022
Cash flows
At 31 March 2023
£
£

£

Cash at bank and in hand

503,263

134,785

638,048


503,263
134,785
638,048

Page 33

 
CASE COMMUNITY TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

22.


Non-adjusting post balance sheet event

During the year under review, an employee lodged an official complaint which was independently investigated and not upheld.  The employee then submitted their resignation pending the outcome of an appeal against the first decision; the original decision was reviewed by a fresh independent investigator who agreed with the original outcome and rejected the complaint.
The employee took leave of absence from mid-March and the period of notice expired effective 30 April 2023. They subsequently lodged an Employment Tribunal claim seeking financial compensation for alleged constructive dismissal and discrimination.
The trustees engaged specialist legal advice and submitted a defence rejecting the claim.  The trustees also sought guidance from the legal advisors on obligations around attendance at a hearing and the associated legal costs should the case progress all the way to a hearing.  Mindful of the time commitment that would be placed upon unpaid volunteer trustees, the potential cost of professional assistance and the unpredictability of a hearing, the legal advisors were authorised by the board to negotiate a settlement if achievable within agreed budget parameters.
A settlement was agreed and paid in January 2024; it was made with no admission of liability and the claim withdrawn.

Page 34