Charity Registration Number 1089853 |
Company Registration Number 03885646 (England and Wales) |
Caterham Barracks Community Trust | |
Report and accounts | |
Contents | |
Page | |
Legal and Administrative Information | 1 |
Trustees' report | 2 |
Independent Examiner's report | 7 |
Income and expenditure account | 8 |
Balance sheet | 9 |
Notes to the accounts | 10 |
Legal and Administrative information |
Trustees |
A Luchmeeparsad (Co-opted) |
C Botten (Tandridge District Council member) - resigned 21 March 2024 |
S Patel (User member) |
G Duck (Co-opted) - resigned 25 June 2024 |
R Kay (User member) |
M Thom (Co-opted) |
J Hardgrave (Co-opted) - appointed 23 May 2024 |
D Ford (Tandridge District Council) - appointed 25 June 2024 |
Chief Executive Officer |
Dick Moran - resigned 2 April 2024 |
Jeff Blyth - appointed 2 April 2024 |
Chief Financial Officer |
Robin Clements - resigned 18 July 2024 |
Charity number |
1089853 |
Company number |
03885646 |
Registered office and principal address |
The Officers' Mess |
Coldstream Road |
Caterham |
Surrey |
CR3 5QX |
Independent examiner |
Lisa Swan ACA |
Parkes & Swan Limited |
The Officers' Mess |
Coldstream Road |
Caterham |
Surrey |
CR3 5QX |
Bankers |
Barclays Bank |
Leicester |
LE8 2BB |
Trustees' Report | |||||||
For the year ended 30 November 2023 | |||||||
ANNUAL REPORT | |||||||
The trustees are pleased to present their report along with the financial statements for the Caterham Barracks Community Trust (the "Trust") for the year ended on 30th November 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's Memorandum and Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice, "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)]. |
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Structure, governance and management | |||||||
Caterham Barracks Community Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated 17th December 2001. It is registered as a charity with the Charities Commission. Anyone over the age of 18 can become a member of the company and there are currently 6 members. Trustees The trustees, who are also the directors for the purpose of company law and who served during the year were: A Luchmeeparsad (Co-opted) - Chair J Blyth (Co-opted) - resigned 9 November 2023 C Botten (Tandridge District Council member) - resigned 21 March 2024 S Patel (User member) G Duck (Co-opted) - resigned 25 June 2024 R Kay (User member) M Thom (Co-opted) J Hardgrave (Co-opted) - appointed 23 May 2024 D Ford (Tandridge district Council member) - appointed 25 June 2024 Executive Team: J Blyth Chief Executive Officer - appointed 2 April 2024 R Clements Chief Financial Officer - resigned 18 July 2024 M Thom Executive - appointed 18 July 2024 D Moran Chief Executive Officer - resigned 2 April 2024 Sustainability Manager - appointed 3 June 2024 |
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When considering co-opting trustees, the board has regard to the requirement for any specialist skills needed. Categories of Membership referred to in the description of elected trustees are set out in the Memorandum and Articles as follows: (a) "User members" shall be members who participate and/or use the Trust's sports, arts, leisure and other activities and facilities. (b) "Youth members" shall be members who are between 18 and 25 years of age who participate in the Trust's youth activities. (c) "Village resident members" shall be members resident in Caterham Barracks. (d) "Village business members" shall be members who have a business in Caterham Barracks. (e) "Caterham members" shall be members who are community organisations and other organisations that have an interest outside Caterham Barracks, but within the area of benefit. |
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Admission to membership is at the absolute discretion of the board of trustees who shall ensure membership of the Trust equitably represents individuals and organisations specified in this Article. New trustees receive a full briefing and induction process, including an induction pack. The board of trustees, which can have up to 12 members, administers the charity. The board meets bi-monthly. A Chief Executive ("CEO") is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations, the CEO has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and business activity associated with the trading arm, CBCT Trading Limited of which he is a director. CBCT Trading Limited (Company number 04410262) is a trading company which is a wholly owned subsidiary of the Trust. It runs businesses on behalf of the Trust and covenants profits to the Trust for distribution according to the objectives of the Trust. |
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The trustees have a risk management strategy which comprises: - an annual review of the risks the charity may face, which is updated for each board meeting; - the establishment of systems and procedures to mitigate those risks identified in the plan; and - the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. The work has identified a few risks but it has resulted in better emergency procedures and contingency plans and has given the impetus for better planning. This work identified that the biggest risk to the Trust in the short term is the health of the current executive as the function is numerically small. The strategy to subcontract work and progressively reconsider the workload is a deliberate plan to minimise the risk which arises from too much dependence on a small function. |
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Objectives and activities | |||||||
The objects of the Trust are set out in the Memorandum and Articles item 3. "3. The objects of the charity are, for the benefit of those who live, work or study in the area of Caterham Barracks and Caterham ("the area of benefit"): (1) To provide, or assist in the provision of facilities for recreational and other leisure time activity in the interests of social welfare, with the object of improving the conditions of life of people who live, work or study in the area of benefit, including those who have special need of facilities by reason of youth, disability or social or economic circumstances. (2) To further education and training for children and adults (3) To preserve and enhance such parts of the natural or built environment in the area of benefit as are of aesthetic, historic or scientific interest, including in particular, the former Chapel at Caterham Barracks." |
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Achievements and performance | |||||||
The charity continued to use its physical building assets to generate income streams to create funds to maintain charitable purpose. The Officers' Mess, NAAFI, Arc and Pavilion have had a successful year. The charity aspires to be responsive to needs and opportunities to serve the community. One significant example is the initiative to work with other organisations to offer social activities for Ukrainian refugees that take place at the Arc. The session is well attended and highly valued. The Arc has performed well in its role of Community Centre and the trustees are grateful to the management and staff for their efforts. The Officer’s Mess and NAAFI have both maintained high levels of occupancy. |
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A charity that supports victims of modern-day slavery, "Their Voice" is renting the Pavilion and the Pumas continue to run a highly successful football club on the pitches owned by the Charity. Zodiac, a gymnastics academy, operates from the Arc and serves significant numbers. The charity remains in encouraging financial health and can plan for the future with confidence. The trustees have identified the need to review and refresh the vision, articulate its core values and create a business plan to frame its mission in order to support its aspirations for serving the community as a priority for the year ahead. The charity has considered succession planning and extending the executive team, within the limitations of its resources, in preparation for these tasks. This will provide a foundation for future planning and the sourcing of funds to deliver on the selected initiatives. The key elements of; leadership, ambition, finance, activities, resources, partnerships and legal structures will feature in the business plan. The charity is now in its third decade and it is timely to revisit the vision and refresh it to ensure the long-term sustainability of the charity in order to serve the people of Caterham with relevant, inclusive high quality services. This will include detailed plans for the development and maintenance of the physical assets for which the trustees are the legal custodians. These activities will provide a focus for much of the work that will be undertaken by the trustees in the coming year. |
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Trustees Responsibilities | |||||||
The trustees are responsible for the preparation of the Trustees' Report and the accompanying financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law requires the trustees to prepare financial statements which give a fair and true view of the state of the affairs of the charity. This includes incoming resources, the application of those resources, including but not exclusively its income and expenditure. In exercising these responsibilities, the trustees are required to: 1. Select suitable accounting policies and then apply them consistently. 2. Observe the methods and principles of the Charities SORP (FRS 102). 3. Make judgements and accounting estimates that are reasonable and prudent. 4. State whether UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements. 5. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure the financial statements comply with the Charities Act 2011 and the Charity Accounts and Reports Regulation 2008. They are also responsible for safeguarding the assets, including the physical assets of the charity and taking all reasonable steps for the prevention and detection of fraud and any other irregularities. The trustees are grateful to the staff, management and executive team for their efforts to serve the community and deliver the objectives of the charity. |
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Financial review | |||||||
The trustees have continued to look critically at the Trust's financial position. Credit control has continued to be tightened to address issues of cashflow. The rental income from CBCT Trading Limited for use of Trust's buildings in the year was £168,000 (2022: £120,000). The trustees will continue to review intercompany recharges and ensure that they can be considered commercial rates. Donations from the wholly owned subsidiary, CBCT Trading limited, totalled £44,000 (2022: £nil). Grant income was £99,419 compared to £24,232 in 2022. All these grants relate to the charitable activities that take place at the Arc and when taken together with the operating income and expenses of the Arc, the Arc's net surplus for the year was £66,240. (2022: £4,058). Significant investment was made during the year into maintaining the buildings and grounds which included bathroom renovations at the Arc. The overall surplus for the year was £35,940 (2022: £(73,953) defecit before exceptional costs) The total funds at the end of the year were £90,467 (2022: £54,527 ). Of this, £123,017 was held in cash. The policy of the Trust is to aim to hold £140,000 in cash reserves which is the estimated working capital commitments for three months. Boosting the cash reserves continues to be a priority next financial year. |
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On behalf of the Board of Trustees | |||||||
A. Luchmeeparsad | |||||||
Trustee | |||||||
25-Jul-24 | |||||||
Caterham Barracks Community Trust | ||||
INDEPENDENT EXAMINER'S REPORT | ||||
TO THE TRUSTEES OF CATERHAM BARRACKS COMMUNITY TRUST ("the Trust") | ||||
I report to the charity trustees on my examination of the accounts of the Trust for the year ended 30 November 2023. Responsibilities and basis of report As the charity’s trustees of the Trust (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the Trust 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. |
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Independent examiner’s statement Since the Trust’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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: 1. accounting records were not kept in respect of the Trust as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts 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 accounts 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 accounts to be reached. |
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Mrs L Swan ACA | ||||
Institute of Chartered Accountants in England and Wales | ||||
Parkes & Swan Limited | ||||
The Officers' Mess | ||||
Coldstream Road | ||||
Caterham | ||||
Surrey | ||||
CR3 5QX | ||||
Statement of Financial Activities | |||||||||
Including Income and Expenditure Account | |||||||||
for the year ended |
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Unrestricted | Restricted | Total | |||||||
Funds | Funds | Funds | |||||||
Notes | 2023 | 2023 | 2023 | 2022 | |||||
Incoming resources | £ | £ | £ | £ | |||||
Donations and subscriptions | 2 | 93,292 | - | 93,292 | 49,654 | ||||
Charitable activities | 3 | 416,782 | 99,419 | 516,201 | 399,902 | ||||
Investment income | 4 | - | 168,000 | ||||||
Total incoming resources | 678,074 | 99,419 | 777,493 | 569,556 | |||||
Resources expended | |||||||||
Charitable activities | 5 | (642,900) | (99,475) | (742,375) | (643,574) | ||||
Total resources expended | ( |
(99,475) | (742,375) | ( |
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Interest receivable | - | 822 | |||||||
Interest payable | - | - | - | - | |||||
Net income before exceptional items | 35,996 | (56) | 35,940 | (73,953) | |||||
Exceptional items: | |||||||||
Loan waiver | 16 | - | - | - | (249,392) | ||||
Net movement in funds | 35,996 | (56) | 35,940 | (323,345) | |||||
Reconciliation of funds | |||||||||
Funds brought forward at 1 December 2022 | 44,247 | 10,280 | 54,527 | 377,872 | |||||
Transfer between funds | - | - | - | - | |||||
Funds carried forward at 30 November 2023 | 80,243 | 10,224 | 90,467 | 54,527 | |||||
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. | |||||||||
Balance Sheet | |||||||
as at |
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Total | Total | ||||||
Funds | Funds | ||||||
Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 10 | ||||||
Investments | 11 | ||||||
Total Fixed Assets | |||||||
Current assets | |||||||
Debtors | 12 | ||||||
Cash at bank and in hand | |||||||
Total Current Assets | |||||||
Creditors: amounts falling due within one year | 13 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 14 | ( |
( |
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Net assets | |||||||
Funds of the Charity | |||||||
Unrestricted funds | 80,243 | ||||||
Restricted funds | 15 | 10,224 | 10,280 | ||||
90,467 | |||||||
A. Luchmeeparsad | |||||||
Trustee | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Incoming resources | ||||||||
Resources expended | ||||||||
Liabilities and resources expended are recognised when they are due and payable. | ||||||||
Depreciation | ||||||||
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. | ||||||||
Freehold land | Not depreciated | |||||||
Freehold building | Not depreciated | |||||||
Building improvements | Straight line over 24 years | |||||||
Plant and machinery | 20% reducing balance | |||||||
Fixtures, fittings & equipment | 20% reducing balance | |||||||
No depreciation is provided in respect of the freehold building on the basis that the trustees consider that the residual value of the building is such to make any depreciation charge immaterial. | ||||||||
Group accounts | ||||||||
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts. | ||||||||
2 | Donations and subscriptions | 2023 | 2022 | |||||
£ | £ | |||||||
Donations and subscriptions | 93,292 | 49,654 | ||||||
3 | Charitable activities | 2023 | 2022 | |||||
£ | £ | |||||||
Grants received | 99,419 | 24,232 | ||||||
Income from the ARC | 407,782 | 364,070 | ||||||
Income from the Pavilion | 9,000 | 7,600 | ||||||
Tandridge Covid grants | - | 4,000 | ||||||
516,201 | 399,902 | |||||||
4 | Investment income | 2023 | 2022 | |||||
£ | £ | |||||||
Investment income | 168,000 | 120,000 | ||||||
During the year £168,000 (2022: £120,000) recharge was made by the Trust for CBCT Trading's use of the buildings that Trust owns. The recharge is based on a commercial rate of building usage. | ||||||||
5 | Resources expended | |||||||
Depreciation | Other costs | 2023 | 2022 | |||||
£ | £ | £ | £ | |||||
Charitable activities | ||||||||
ARC expenses | ||||||||
- Running costs | - | 183,672 | 183,672 | 183,252 | ||||
- Staff costs - wages and salaries | - | 249,012 | 249,012 | 194,122 | ||||
- Employer's NI | - | 5,397 | 5,397 | 4,510 | ||||
- Pension | - | 2,880 | 2,880 | 2,360 | ||||
- | 440,961 | 440,961 | 384,244 | |||||
Community facilities | ||||||||
- Support costs | 67,798 | 229,716 | 297,514 | 255,330 | ||||
- Governance costs | - | 3,900 | 3,900 | 4,000 | ||||
67,798 | 233,616 | 301,414 | 259,330 | |||||
Total charitable activities costs | 67,798 | 674,577 | 742,375 | 643,574 | ||||
Governance costs include payments to the independent examiner of £3,000 (2022: £2,800) for their fees and £900 (2022: £1,200) for other accounting services during the year. | ||||||||
6 | Support costs | 2023 | 2022 | |||||
£ | £ | |||||||
Depreciation | 67,798 | 68,569 | ||||||
Mortgage interest | 68,259 | 41,848 | ||||||
Other costs | 161,457 | 144,913 | ||||||
297,514 | 255,330 | |||||||
7 | Trustees and Key Personnel | |||||||
The following payments were made to trustees and key personnel and persons connected with them in the financial year: Two persons connected with Robin Clements, the Chief Financial Officer, collectively received remuneration of £58,892 (2022: £58,742) for services related to Arc activities. Dick Moran, a member of the Exexcutive Team, is employed by CBCT Trading Limited, the wholly owned subsidiary of the Trust and remuneration received was £21,334 (2022: £20,000.) There were no other remuneration payments to trustees and key personnel in the year. There were no payments for trustee expenses. £21,334 (2022- £20,000) was charged to CBCT Trading Limited, the wholly owned subsidiary of the Trust, by Rojen Consulting Limited, a company owned by Robin Clements, the Chief Financial Officer. £5,680 (2022 - £3,369) was charged to CBCT Trading Limited, the wholly owned subsidiary of the Trust by Fast Fibre Hubs Limited, a company in which Mr Geoff Duck, a trustee, was a person with significant control until August 2023. £5,496 (2022: £1,880) was charged to Trust by S.A.I infinity Care Ltd, a company in which Mrs Sacha Patel, a trustee, has indirect ownership. |
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8 | Employees | |||||||
Number of employees | ||||||||
The average monthly number of employees during the year was: | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Chief Executive | 1 | 1 | ||||||
Administrative staff | 1 | 1 | ||||||
ARC staff | 20 | 20 | ||||||
Wages and salaries are prepared and paid by the trading arm of the charity, CBCT Trading Limited, the 100% subsidiary of the Trust. The full cost of the salaries paid to ARC staff of £257,289 (2022: £200,992), are recharged to the Trust. | ||||||||
There were no employees whose annual remuneration was £60,000 or more. | ||||||||
9 | Operating profit | 2023 | 2022 | |||||
£ | £ | |||||||
This is stated after charging: | ||||||||
Depreciation of owned fixed assets | 67,798 | 68,569 | ||||||
10 | Tangible fixed assets | |||||||
Land and buildings | Plant and machinery etc | Fixtures & fittings | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 December 2022 | 1,714,655 | 10,345 | 26,201 | 1,751,201 | ||||
Additions | - | - | 56 | 56 | ||||
At 30 November 2023 | 1,714,655 | 10,345 | 26,257 | 1,751,257 | ||||
Depreciation | ||||||||
At 1 December 2022 | 714,683 | 4,476 | 15,175 | 734,334 | ||||
Charge for the year | 64,040 | 805 | 2,953 | 67,798 | ||||
At 30 November 2023 | 778,723 | 5,281 | 18,128 | 802,132 | ||||
Net book value | ||||||||
At 30 November 2023 | 935,932 | 5,064 | 8,129 | 949,125 | ||||
At 30 November 2022 | 999,972 | 5,869 | 11,026 | 1,016,867 | ||||
The land and buildings relate to three freehold properties owned by the Trust together with capitalised building work carried out in relation to these properties. | ||||||||
All buildings are rented to tenants partly on commercial terms, to provide an income stream, and partly on non-commercial terms (or with limitations), both of which enable the charity to carry out its charitable objects. As a result there is no readily ascertainable market value and because these interests in buildings cannot be defined as purely investment properties, they are shown at cost and depreciated accordingly. | ||||||||
11 | Investments | |||||||
£ | ||||||||
Carrying value at 1 December 2022 and 30 November 2023 | 2 | |||||||
Historical cost: | ||||||||
At 30 November 2022 | 2 | |||||||
At 30 November 2023 | 2 | |||||||
Holdings of more than 20%: | ||||||||
The company holds more than 20% of the share capital of the following companies: | ||||||||
Company | Country of registration or incorporation | Shares held | ||||||
Subsidiary undertakings | Class | % | ||||||
CBCT Trading Limited | UK | Ordinary | 100 | |||||
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows: | ||||||||
Capital and reserves | Profit/(loss) for the year | |||||||
Principle Activities | ||||||||
£ | £ | |||||||
CBCT Trading Limited | Property rental management | 707 | 3,930 | |||||
12 | Debtors | 2023 | 2022 | |||||
£ | £ | |||||||
Trade debtors | 12,048 | 3,365 | ||||||
Other debtors | 872 | - | ||||||
Prepayments | 13,270 | 12,198 | ||||||
26,190 | 15,563 | |||||||
13 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans and overdrafts | 49,840 | 51,259 | ||||||
Trade creditors | 4,361 | 10,563 | ||||||
Amounts owed to group undertakings | 27,931 | 34,364 | ||||||
Other taxes and social security costs | 9,097 | - | ||||||
Accruals and deferred income | 10,612 | 7,333 | ||||||
101,841 | 103,519 | |||||||
14 | Creditors: amounts falling due after one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans | 817,861 | 864,504 | ||||||
Other creditors | 88,165 | 112,165 | ||||||
906,026 | 976,669 | |||||||
Analysis of loans | ||||||||
Wholly repayable | 867,701 | 915,763 | ||||||
Included in current liabilities | (49,840) | (51,259) | ||||||
817,861 | 864,504 | |||||||
Loan maturity analysis | ||||||||
Debt due in one year or less | 49,840 | 51,259 | ||||||
In more than one year but not more than two years | 54,246 | 53,781 | ||||||
In more than two years but not more than five years | 193,242 | 179,334 | ||||||
In more than five years | 570,373 | 584,746 | ||||||
867,701 | 869,120 | |||||||
On the 11 November 2019 the Trust renegotiated and consolidated its loans and a loan of its subsidiary, CBCT Trading Limited. The resultant bank loan is secured by a fixed and floating charge over the properties and assets of theTrust and CBCT Trading Limited. The interest rate is 3.25% above base rate (minimum rate of 4%). Repayments are made monthly and the term of the loan is 15 years. | ||||||||
As at 30 November 2023, included in other creditors greater than one year is £88,165 (2022 : £112,165) owed to Richard Moran, a member of the Executive Team. No interest is charged and there is no repayment date for the loan. | ||||||||
15 | Charity Funds | |||||||
Restricted Fund: | ||||||||
Bfwd at 1 December 2022 | 10,280 | |||||||
Income | 96,658 | |||||||
Expenditure | (96,714) | |||||||
Cfwd at 30 November 2022 | 10,224 | |||||||
16 | Related party transactions | |||||||
During the year £168,000 (2022: £120,000) rent was charged by Trust on CBCT Trading Limited for the use of its buildings. | ||||||||
During the year, the Trust received donations of £44,000 (2022: £nil) from CBCT Trading Limited. Last year, on 1 December 2021, the Trust waived the loan due from CBCT Trading Limited of £249,392. The Charity Commission was informed and their permission is not required given that the trustees consider all the conditions necessary to have been fulfilled. |