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REGISTERED COMPANY NUMBER: 07592707 (England and Wales)
REGISTERED CHARITY NUMBER: 1141612














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MUDEFORD WOOD COMMUNITY TRUST

MUDEFORD WOOD COMMUNITY TRUST






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Reference and Administrative Details 1

Report of the Trustees 2 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 14

MUDEFORD WOOD COMMUNITY TRUST

REFERENCE AND ADMINISTRATIVE DETAILS
for the Year Ended 31 March 2024



TRUSTEES Richard Ashdown
Paul Hilliard (Honorary Treasurer)
Elizabeth Sabey (Chairman)
Victoria Fuller
Michael Scott-Johns
Deborah Stephens
Samuel Weeks


COMPANY SECRETARY Paul Hilliard


REGISTERED OFFICE Pipers Drive
Mudeford
Christchurch
Dorset
BH23 4TR


REGISTERED COMPANY
NUMBER
07592707 (England and Wales)


REGISTERED CHARITY
NUMBER
1141612


INDEPENDENT EXAMINER Terence L Smith & Co
Chartered Accountants
38a Station Road
New Milton
Hampshire
BH25 6JX


BANKERS CAF Bank Ltd
PO Box 289
West Malling
Kent
ME19 4TA

MUDEFORD WOOD COMMUNITY TRUST (REGISTERED NUMBER: 07592707)

REPORT OF THE TRUSTEES
for the Year Ended 31 March 2024


The Trustees, who are also Directors of the Trust for the purposes of the Companies Act, submit their Report and the Financial Statements for the year ended 31st March 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015. As a charitable company, the Trust is governed by a Memorandum and Articles of Association.

OBJECTIVES AND ACTIVITIES
Review of Activities and Future Developments
The specific object of the Trust is explained within its Articles of Association and, in summary, is: to promote for the benefit of inhabitants of Mudeford Wood, Christchurch, Dorset (and the surrounding area) the provision of facilities by reason of their youth, age, infirmity or disability, financial hardship or, social or economic circumstances or for the public at large in the interests of social welfare and with the object of improving the life of the said inhabitants. In practice this will mean the provision of facilities offering diverse activities for the social, mental and physical wellbeing of the local community, regardless of age, ethnicity or culture. To help achieve this, the Trust engages with and encourages the local community to become involved in the planning of activities and the running of the facilities at Mudeford Wood Community Centre.

The Trust's operations meet its public benefit expectations achieved with an enthusiastic set of volunteers running the Community Centre and its associated sporting and other recreational facilities. The Trust assumed responsibility for the Mudeford Wood Community Centre and adjacent all-weather pitch together with access rights to the adjacent field from Christchurch Borough Council (BCP Council subsumed CBC, and is now the principal council) within the terms of licence agreements on 1st April 2012 pending the enactment of a lease for the former two areas in November 2013. The Centre is a busy and thriving community based facility that offers a diverse range of activities together with the opportunity for individuals and societies to hire the all-weather pitch, rooms and halls for their members and others. In planning activities for the period the Trustees have considered the Charity Commission's guidance on public benefit and the needs of the local community. The Trust has confirmed its commitment for the Centre to be used for community purposes during a period of emergency and/or local crisis as an evacuation or temporary holding location.

The Trust's approach to costs management together with efficient use of available resources means that the Centre remains a financially viable charitable based organisation. There continues to be a total reliance upon the support and work of many volunteers to enable the Centre to offer the range of activities demanded. The Board is forever grateful for the many hours that substantial numbers of people give freely. The campaign of fund raising and seeking grants continues at a relentless pace to identify funds that can enhance the Centre's facilities. Trustees use the electronic booking system and financial accounting software to produce management reports and information that allows informed decisions to be made about marketing spare capacity and achieving best value for the investments made of time and money. Whilst the usage of the facilities for hire remains robust, the continued cost rises in energy and support services has proved a challenge for the Trust to cope with.

Whilst the Trust is doing its best to: maintain prudent control of its finances to ensure that it remains financially secure; maintain financial reserves that will meet Charity Commission expectations; and, most importantly, seek to achieve a year-end outturn that will allow it to achieve its primary objective; the current financial environment is unpredictable and likely to result in an operational deficit brought into balance by the Trust's reserves for the year 2024/25. The Trust remains in close contact and co-operates fully with the Local Authority and its published guidance for allowing outdoor and indoor activities. The Trust employees a full time Centre Manager, along with a part time Development Manager with a specific remit to review Trust policies, explore grant funding and generate income from events and varied activities.

On behalf of the Trust, the Board is very grateful to the many individuals and organisations that have contributed either with their time or money (or both) in the last year. Every contribution has been much appreciated.


MUDEFORD WOOD COMMUNITY TRUST (REGISTERED NUMBER: 07592707)

REPORT OF THE TRUSTEES
for the Year Ended 31 March 2024


OBJECTIVES AND ACTIVITIES
Volunteers/Fundraising
The Trust is supported by the volunteer activities of its Trustees in roles beyond their Governance responsibilities, together with a wider network of volunteers who provide help in many ways. There has been a reliance upon around just 25 Volunteers Including 7 Trustees) on a regular basis, with other volunteers supporting larger activities. Recruitment of new volunteers and Trustees continues to prove difficult as expectations change from offering community service to a desire to just "pay and play" with the work to keep the Centre going undertaken by "someone else". The Trust is extremely grateful to those people who provide their valuable commitment. The Trust's Fund Raising continues to be focused towards both grant and sponsorship applications for specific projects, together with a desire to restore its community-based Fund Raising events that will help grow its unrestricted reserves.

FINANCIAL REVIEW
Financial Result
The reported net expenditure for 2023/2024 of £2,813 reflects the current challenging financial environment, balanced against the return of a solid base of regular users and groups. The Trust benefits from its computerised systems that allow precise budgeting and financial planning that have proved invaluable during the year. Much of the systems and processes have been digitalised removing the need for paper records. The Trust has ensured that data back-up is secure with records also held remotely from the Centre as a part of the Trust's Disaster Recovery Plan. The Trust takes active steps to ensure that data is managed in accordance with current Data Protection legislation and is registered with the Information Commissioner. The Trust is registered with PRS/PPL and holds a Music Licence on behalf of the Centre and its hirers. Taking account of the reserve funds established, and as recorded within Note 1 to the Accounts, the Trust had free cash of around £90k at 1st April 2024. The Trust remains mindful of the competitive environment for securing grant funds with Trustees undertaking regular financial reviews at their meetings to ensure that the wide range of activities available at the Community Centre operate at least at balance or ideally at a sensible surplus to maintain future financial independence and viability.

There was two members of staff (a Centre Manager and a Development Manager) employed directly upon MWCT's payroll during this accounting period. These members of staff joined the Trust's employment in July 2023. Other services were delivered against consultancy or other contracts and paid following receipt of invoices. In all cases contracts and payments were agreed in advance by the Board of Trustees before delivery commenced. Both members of Staff are eligible and are registered for the work-place pension. The Trust is registered for VAT.

The Trust has been grateful for the good working relationships developed with and support from its unitary local authority - the Bournemouth, Poole and Christchurch Council.

Reserves
The Trustees regularly review the reserves of the Trust. The Trustees review the level required each financial year taking account of both increased costs and an unpredictable fund-raising environment. The operational reserve has increased to £86,000 and represents reserves that are around 12 months of minimum operating costs. Careful management of overhead costs and spend results in the Trustees being able to confirm that level of reserves as being able to provide an adequate financial cushion. Prudent costs management will aim to ensure that the necessary reserves position will be maintained during 2024/2025 and subsequent financial periods with further reviews occurring as may be required.


MUDEFORD WOOD COMMUNITY TRUST (REGISTERED NUMBER: 07592707)

REPORT OF THE TRUSTEES
for the Year Ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governance and internal control
The Trust, which is a registered Charity, is limited by guarantee and does not have a share capital. The liability of each Member under guarantee (who are also the Trustees/Directors) does not exceed the sum of £10. It is governed by a Memorandum and Articles of Association. The Trustees receive no remuneration for their services. The Trustees who served during the year are as shown on page 1.

The Board of Trustees has met face-to-face as required by its Articles of Association and by other means as may be required. The Board is supported by Trustee-led Working Groups that have more detailed responsibility for the following matters: Operations, Premises Maintenance and Development; Marketing and Communications; Volunteer Management; Finance and Governance. The role and composition of the Working Groups is reviewed each year. The Board undertakes regular reviews to ensure that it remains an
effective Body that achieves an appropriate balance between operational and strategic involvement. It follows Charity Commission guidance in this matter.

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:

- A Business Plan and an annual Budget approved by the Trustees;
- Management accounts which show variance from budget and re-forecast anticipated results for the year,
which are reviewed by the Trustees; and
- Delegation of authority and reasonable segregation of duties.

Risk management
The Trustees actively review the major risks, which the Trust faces on a regular basis. Recognising its size and scope, the Trust has developed appropriate systems to monitor and control these risks and to mitigate any impact they may have on the Trust's future. All activities are risk assessed and the Trust engages with its Insurers to ensure that adequate assessment has been completed and appropriate cover is in place.

Approved by the Board of Trustees/Directors on 28 September 2024 and signed on its behalf by:





Paul Hilliard - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
MUDEFORD WOOD COMMUNITY TRUST

Independent examiner's report to the trustees of Mudeford Wood Community Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (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 Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of 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.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company 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.








Terence L Smith

Terence L Smith & Co
Chartered Accountants
38a Station Road
New Milton
Hampshire
BH25 6JX

28 September 2024

MUDEFORD WOOD COMMUNITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 March 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 1,754 - 1,754 1,380

Other trading activities 3 564 - 564 273
Investment income 4 7,099 - 7,099 2,229
Other income 119,802 - 119,802 98,887
Total 129,219 - 129,219 102,769

EXPENDITURE ON
Charitable activities
Charitable Activities 121,673 10,359 132,032 105,514

NET INCOME/(EXPENDITURE) 7,546 (10,359 ) (2,813 ) (2,745 )


RECONCILIATION OF FUNDS
Total funds brought forward 312,319 145,019 457,338 460,083

TOTAL FUNDS CARRIED FORWARD 319,865 134,660 454,525 457,338

MUDEFORD WOOD COMMUNITY TRUST (REGISTERED NUMBER: 07592707)

BALANCE SHEET
31 March 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 27,353 134,660 162,013 176,375

CURRENT ASSETS
Debtors 10 13,743 - 13,743 13,945
Cash at bank and in hand 291,921 - 291,921 279,490
305,664 - 305,664 293,435

CREDITORS
Amounts falling due within one year 11 (13,152 ) - (13,152 ) (12,472 )

NET CURRENT ASSETS 292,512 - 292,512 280,963

TOTAL ASSETS LESS CURRENT
LIABILITIES

319,865

134,660

454,525

457,338

NET ASSETS 319,865 134,660 454,525 457,338
FUNDS 12
Unrestricted funds 319,865 312,319
Restricted funds 134,660 145,019
TOTAL FUNDS 454,525 457,338

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


MUDEFORD WOOD COMMUNITY TRUST (REGISTERED NUMBER: 07592707)

BALANCE SHEET - continued
31 March 2024

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


The financial statements were approved by the Board of Trustees and authorised for issue on 28 September 2024 and were signed on its behalf by:





Paul Hilliard - Trustee

MUDEFORD WOOD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
Grants and donations are accounted for as they are received. All other income including income tax recoverable on gift-aid donations is recognised in the Statement of Financial Activities (SOFA) once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Leasing
Rentals paid under operating leases are charged to the SOFA on a straight line basis over the term of the lease.

Tangible fixed assets
These are capitalised if they can be used for more than one year and cost at least £500.
Leasehold land & buildings are depreciated over the period of the lease, being 20 whole years from March 2018, and fixtures and fittings over 4 years; once they are put into operational use.

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

Fund accounting
There are two funds held, namely the Restricted Income Fund and the General Purposes Fund.
The Restricted Income Fund comprises of £134,660 (2023 £145,019) for the Centre's phase 2 development.
The General Purposes Fund of £319,865 (2023 £312,319) includes £100,000 for the all weather pitch, £20,510 toward several capital projects within the 5 year strategic plan, £21,250 for emergency capital maintenance, £86,000 strategic reserve as per Charity Commission guidelines and £90,000 free cash.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.


MUDEFORD WOOD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. DONATIONS AND LEGACIES
2024 2023
£    £   
Donations 921 1,380
Grants 833 -
1,754 1,380

Grants received, included in the above, are as follows:

2024 2023
£    £   
Other grants 833 -

3. OTHER TRADING ACTIVITIES
2024 2023
£    £   
Other Income 564 273

4. INVESTMENT INCOME
2024 2023
£    £   
Interest Received 7,099 2,229

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 17,906 19,474

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

During the year one trustee was reimbursed expenses of £3,154 for cleaning costs.


MUDEFORD WOOD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

7. STAFF COSTS
2024 2023
£    £   
Wages and salaries 26,536 18,383
Other pension costs 387 -
26,923 18,383

The average monthly number of employees during the year was as follows:

2024 2023
Administration 2 1

No employees received emoluments in excess of £60,000.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,380 - 1,380

Other trading activities 273 - 273
Investment income 2,229 - 2,229
Other income 98,887 - 98,887
Total 102,769 - 102,769

EXPENDITURE ON
Charitable activities
Charitable Activities 95,155 10,359 105,514

NET INCOME/(EXPENDITURE) 7,614 (10,359 ) (2,745 )


RECONCILIATION OF FUNDS
Total funds brought forward 304,705 155,378 460,083

TOTAL FUNDS CARRIED FORWARD 312,319 145,019 457,338


MUDEFORD WOOD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

9. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 240,747 108,713 - 349,460
Additions - - 3,544 3,544
At 31 March 2024 240,747 108,713 3,544 353,004
DEPRECIATION
At 1 April 2023 72,222 100,863 - 173,085
Charge for year 12,037 4,983 886 17,906
At 31 March 2024 84,259 105,846 886 190,991
NET BOOK VALUE
At 31 March 2024 156,488 2,867 2,658 162,013
At 31 March 2023 168,525 7,850 - 176,375

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,605 12,246
Other debtors 757 1,370
Prepayments 1,381 329
13,743 13,945

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,786 5,430
Social security and other taxes 463 267
VAT 4,095 4,125
Other creditors 123 -
Accrued expenses 2,685 2,650
13,152 12,472

12. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 312,319 7,546 319,865

Restricted funds
Restricted funds 145,019 (10,359 ) 134,660

TOTAL FUNDS 457,338 (2,813 ) 454,525

MUDEFORD WOOD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 129,219 (121,673 ) 7,546

Restricted funds
Restricted funds - (10,359 ) (10,359 )

TOTAL FUNDS 129,219 (132,032 ) (2,813 )


Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 304,705 7,614 312,319

Restricted funds
Restricted funds 155,378 (10,359 ) 145,019

TOTAL FUNDS 460,083 (2,745 ) 457,338

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 102,769 (95,155 ) 7,614

Restricted funds
Restricted funds - (10,359 ) (10,359 )

TOTAL FUNDS 102,769 (105,514 ) (2,745 )

MUDEFORD WOOD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.22 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 304,705 15,160 319,865

Restricted funds
Restricted funds 155,378 (20,718 ) 134,660

TOTAL FUNDS 460,083 (5,558 ) 454,525

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 231,988 (216,828 ) 15,160

Restricted funds
Restricted funds - (20,718 ) (20,718 )

TOTAL FUNDS 231,988 (237,546 ) (5,558 )

13. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the financial statements 98,000 -

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.