THE_CHESTER_BLUECOAT_CHAR - Accounts
THE_CHESTER_BLUECOAT_CHAR - Accounts
The trustees present their annual report and financial statements for the period ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, 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 2019)".
The charity's objects are tackling the causes of poverty, disadvantage and inequality across the city of Chester and the surrounding area through funding to charitable and community organisations; provision of almshouse accommodation; and by sponsoring educational bursaries. The Charity also provides affordable office space and room hire for Third Sector organisations at its charity hub where it is also based. During the period to 31 December 2021 no activity took place.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity was dormant throughout the period and therefore there have been no achievements and performance.
The charity has not traded during the period. It has no assets or liabilities. No reserves policy is therefore yet in place.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The charity is a company limited by guarantee who incorporated on 8 November 2019. The trustees received formal approval from the Charity Commission on 18 December 2020 for a scheme whereby this new charity replaces the individual trustees as the sole trustee of Chester Municipal Charities. In time, the registration of the two entities will be merged so that there is a single charity registration. The external charity will be referred to as The Chester Bluecoat Charity, with legal and financial responsibilities continuing to lie with the original unincorporated charity.
The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:
Recruitment and appointment of trustees will be completed by the current trustees in post.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
From 18th December 2021 the Charity holds assets as custodian trustee on behalf of Chester Municipal Charities (charity number: 1077806). The assets held are property, detailed below:
Blue Coat School, Upper Northgate Street, Chester
The Almshouses and part of the Blue Coat Building, Upper Northgate Street, Chester
47-57 Eastgate Street, Chester
45 Eastgate Street, Chester
The trustees' report was approved by the Board of Trustees.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Chester Bluecoat Charity for the period ended 31 December 2021, which comprise and the related notes from the charity’s accounting records and from information and explanations you have given us.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Chester Bluecoat Charity and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Chester Bluecoat Charity and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that The Chester Bluecoat Charity has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of The Chester Bluecoat Charity. You consider that The Chester Bluecoat Charity is exempt from the statutory audit requirement for the period, and is not required to obtain an independent examiner's report.}
We have not been instructed to carry out an audit or a review of the financial statements of The Chester Bluecoat Charity. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The Chester Bluecoat Charity is a private company limited by guarantee incorporated in England and Wales. The registered office is The Bluecoat, Upper Northgate Street, Chester, Cheshire, CH1 4EE.
The financial statements have been prepared in accordance with the charity's governing document, 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 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Statement of financial activities
The charity has not traded during the period and so received no income and incurred no expenditure. Therefore no statement of financial activities has been included in the financial statements.
The average monthly number of employees during the period was:
There were no disclosable related party transactions during the period (2020: £nil).