REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ST. PETER'S URBAN VILLAGE TRUST |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ST. PETER'S URBAN VILLAGE TRUST |
ST. PETER'S URBAN VILLAGE TRUST |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 15 |
ST. PETER'S URBAN VILLAGE TRUST (REGISTERED NUMBER: 01839079) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The trust's objectives are to develop St Peter's College Saltley for the benefit of the community and local residents. The policies adopted in furtherance of these objects are provide a cohesive unit of housing, educational, vocational, and recreational activities on the site of St Peter's Urban Village and there has been no change in these policies during the year |
Public benefit |
All of the charitable activities support the trust's aim to develop St Peter's College Saltley for the benefit of the community and local residents. These activities are undertaken to further the charitable purposes for the public benefit. The trustees confirm that the charitable aims satisfy the principles of the public benefit in the Charities Act 2006. |
ST. PETER'S URBAN VILLAGE TRUST (REGISTERED NUMBER: 01839079) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The Trust continues to serve the local community by granting short and long-term leases to various training organisations, housing associations and charities including: |
Women Empowering Women who run a local pantry two days per week have expanded and now lease a further office under Women Empowering Women C.I.C. who give advice, hold sewing, healthy eating cookery and dance classes. For a small weekly subscription, members at the WEW Pantry Saltley can purchase a weekly food shop including fresh fruit and vegetables and family favourites to stock up the cupboard and fridge. A Pantry is member-run; operate along cooperative lines, and many volunteers are members too. They are open to all; you don't need a referral - anyone who lives in an area served by a Pantry can join. Members can join for as long as they want and can choose to go every week or just occasionally. |
Women Empowering Women's group is an active, culturally diverse, voluntary group of local community women that offer a range of cultural, social and arts activities for women, children, and the wider community across Washwood Heath, Saltley, Bordesley Green and the surrounding areas of Birmingham. The aim is to engage women and families from diverse backgrounds who may be vulnerable or at risk from isolation, to socialise and engage with activities that increase self-confidence and advocate well-being. |
Blenducate and Qualify Courses are now back on as normal with the children attending classes full time. They tutor children who do not have access to mainstream education or are home-schooled. They also offer tutoring services for students who require additional support outside of school or towards their 11plus or SAT exams. Blenducate are looking to expand in the future and are looking at other accommodation on site. |
St Peters (Saltley) Housing have continued to support their tenants remotely and are now on site two days per week and other times when required. Staff continue to offer support working from home. The Housing Association have also welcomed a new C.E.O. This is a small community-based non-profit making registered social landlord, registered with the Housing Corporation and is also an independent charity set up under Industrial and Provident Society rules. St Peters is committed to providing good quality housing and responsive services and providing services that will enhance and improve the quality of life for residents in the Saltley area. They currently provide on-site flats for general housing, disabled and warden-controlled units and using, free of charge, Trust land running alongside the railway line as allotments for their tenants who raise their crops of flowers and vegetables. The housing association are looking to reduce office costs and are exploring the idea of reducing their office accommodation in the future. |
Home Group is one of the leading providers of affordable social housing for people in the UK. They provide to main services for local communities - Housing and care and support. |
The care and support is delivered through Stonham who are England's largest provider of housing and support for vulnerable and socially excluded people. |
Adderley House currently houses people with mental health problems, learning difficulties and physical difficulties. Tenants are offered quality care and support services personalized to respond to the individual circumstances. |
The Village Community Nursery are now taking private as well as funded children and are now open fulltime outside of term time. The Village Community Nursery is a registered charity which offers affordable pre-school and out of school activities for children from Birmingham and surrounding area. The nursery operates five days a week all year round except for bank holidays. A maximum of 50 children may attend the nursery at any one time the age range is from birth to five. The setting also supports children with learning difficulties and/or disabilities and a high number of children who speak English as an additional language. They currently employ members of staff mainly from the local area and have developed partnerships with parents and carers and have links with other providers in the community. Children benefit from being cared for by qualified staff who are friendly and are able to speak the community languages which creates an inclusive environment. |
During the year the green has been used by local schools including The Rosary, St Saviours and Shaw Hill who carry out P.E. classes, activities, and sports days. |
ST. PETER'S URBAN VILLAGE TRUST (REGISTERED NUMBER: 01839079) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
The Old Salts were welcomed back on site in July 2023 where they used the Housing Association meeting room (formerly the dining hall) within the grade II listed building of the Old Quad and made use of the Trust grounds for parking with a marquee on the field. |
Andulus Archery have continued with their Archery lessons on the green and are now back to normal with their lessons on site. Andalus Archers were established with the assistance of St Peter's Urban Village Trust, Gym Nation and ISRA Feed the Poor over 12 years ago. The Trust allowed them to use the Green to revive the ancient English tradition of Archery on the Green. They are currently affiliated to Archery GB who are the sport governing body and have achieved the On-Target Club status. The club continues to arrange beginner's courses and archery sessions for local people. |
The Finance and Management Committee continue to meet remotely and on site ten times per annum to oversee the continued improvement of St. Peters in accordance with the planned maintenance schedules and against the agreed budget. The Trust to reduce costs are looking to move into smaller premises in the future. They will also be looking at replacing lighting with more efficient led fittings in their building along with replacing the windows with double glazing to save on running costs. In the future they will also be looking at solar energy to assist in bringing costs down further. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
M D Spafford |
LDP Luckmans |
1110 Elliott Court |
Coventry Business Park |
Herald Avenue |
Coventry |
West Midlands |
CV5 6UB |
Approved by order of the board of trustees on |
ST. PETER'S URBAN VILLAGE TRUST (REGISTERED NUMBER: 01839079) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
ST. PETER'S URBAN VILLAGE TRUST |
Independent examiner's report to the trustees of St. Peter's Urban Village 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. |
M D Spafford |
LDP Luckmans |
1110 Elliott Court |
Coventry Business Park |
Herald Avenue |
Coventry |
West Midlands |
CV5 6UB |
28 November 2024 |
ST. PETER'S URBAN VILLAGE TRUST |
STATEMENT OF FINANCIAL ACTIVITIES |
for the year ended 31 March 2024 |
2024 | 2023 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income | 2 |
Total |
EXPENDITURE ON |
Raising funds | 3 |
Charitable activities |
Total |
Net gains/(losses) on investments | ( |
) |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1,935,538 |
ST. PETER'S URBAN VILLAGE TRUST (REGISTERED NUMBER: 01839079) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 1,935,538 |
TOTAL FUNDS | 1,935,538 |
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. |
ST. PETER'S URBAN VILLAGE TRUST (REGISTERED NUMBER: 01839079) |
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 |
ST. PETER'S URBAN VILLAGE 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
At the time of approving the accounts, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. The trustees therefore continue to adopt the going concern basis of accounting in preparing the financial statements. In making this assessment, the trustees are required to consider a period of at least 12 months from the date of approval of the financial statements. |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
Preparation of consolidated financial statements |
The financial statements contain information about St. Peter's Urban Village Trust as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the trust's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Income |
All income is recognised in the Statement of Financial Activities 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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
ST. PETER'S URBAN VILLAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
1. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. |
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. |
Related party exemption |
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Fixed asset investments |
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expenses as incurred. |
Investments in subsidiary undertakings are stated at cost less any provision for permanent impairment in value. A subsidiary is an entity controlled by the trust. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. |
Impairment of fixed assets |
At each reporting date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). |
ST. PETER'S URBAN VILLAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
2. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Income from listed investments | 23,269 | 23,139 |
Deposit account interest |
3. | RAISING FUNDS |
Investment management costs |
2024 | 2023 |
£ | £ |
Portfolio management | 5,840 | 5,621 |
4. | 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 |
2021 | 2020 |
£ | £ |
Trustees' expenses | 261 | 588 |
5. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Administration |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
funds |
£ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
ST. PETER'S URBAN VILLAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
funds |
£ |
Net gains/(losses) on investments | ( |
) |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1,935,538 |
7. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Freehold property includes investment properties which are included at historical cost less depreciation to residual value. |
In the opinion of the trustees, the fair value of the freehold property may be greater than its historic cost but they consider that a valuation would be materially consistent with the historic cost. |
8. | FIXED ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Shares | 1,048,372 | 955,909 |
Loans | 108,780 | 108,780 |
1,157,152 | 1,064,689 |
ST. PETER'S URBAN VILLAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
8. | FIXED ASSET INVESTMENTS - continued |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
MARKET VALUE |
At 1 April 2023 | 955,909 |
Additions | 16,367 |
Revaluations | 76,096 |
At 31 March 2024 | 1,048,372 |
NET BOOK VALUE |
At 31 March 2024 | 100 | 1,048,272 | 1,048,372 |
At 31 March 2023 | 100 | 955,809 | 955,909 |
Loans to |
group |
undertakings |
£ |
At 1 April 2023 and 31 March 2024 |
There were no investment assets outside the UK. |
Cost or valuation at 31 March 2024 is represented by: |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2024 | - | 76,096 | 76,096 |
Valuation in 2023 | - | (75,439 | ) | (75,439 | ) |
Valuation in 2022 | - | 144,136 | 144,136 |
Cost | 100 | 903,479 | 903,579 |
100 | 1,048,272 | 1,048,372 |
THe loans are to St Peters Student Accomodation Limited. They are secured by a charge over the assets of that company and interest is payable at 2% above bank base rate. The loans are repayable in the sum of £89,890 on 4 November 2023 and £89,890 on 15 September 2025. |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Amounts due from |
Service Charge Fund | 22,751 | 30,407 |
VAT |
Prepayments |
ST. PETER'S URBAN VILLAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Other creditors |
Accruals and deferred income |
11. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,656,487 | 220,931 | 1,877,418 |
Designated fund | 279,051 | - | 279,051 |
220,931 |
TOTAL FUNDS | 220,931 | 2,156,469 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 235,911 | (91,076 | ) | 76,096 | 220,931 |
TOTAL FUNDS | ( |
) | 220,931 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,609,307 | 47,180 | 1,656,487 |
Designated fund | 279,051 | - | 279,051 |
1,888,358 | 47,180 | 1,935,538 |
TOTAL FUNDS | 1,888,358 | 47,180 | 1,935,538 |
ST. PETER'S URBAN VILLAGE TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
11. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 214,467 | (91,848 | ) | (75,439 | ) | 47,180 |
TOTAL FUNDS | 214,467 | (91,848 | ) | (75,439 | ) | 47,180 |
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 | 1,609,307 | 268,111 | 1,877,418 |
Designated fund | 279,051 | - | 279,051 |
1,888,358 | 268,111 | 2,156,469 |
TOTAL FUNDS | 1,888,358 | 268,111 | 2,156,469 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 450,378 | (182,924 | ) | 657 | 268,111 |
TOTAL FUNDS | 450,378 | (182,924 | ) | 657 | 268,111 |
12. | RELATED PARTY DISCLOSURES |