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2022-03-31-accounts

Company registration number: 02624238 Charity registration number: 1008788

Children's Scrapstore

(A company limited by share capital) Annual Report and Financial Statements

for the Year Ended 31 March 2022

Children's Scrapstore

Contents

Reference and Administrative Details 1
Trustees' Report 3 to 9
Statement of Responsibilities 10
Independent Examiner's Report 11
Consolidated Statement of Financial Activities 12
Consolidated Balance Sheet 13
Balance Sheet 14
Consolidated Statement of Cash Flows 15
Notes to the Financial Statements 16 to 44

Children's Scrapstore

Reference and Administrative Details

Chief Executive Officer Ms K Fowler Trustees Ms C J Casswell Ms V Shah-Dyan Ms E J Collier Mr P R Simpson Mr J Pendlington Ms B Cavender Ms G S Pugh-Jones Ms S E Jaeckle Mr A Forster Company Registration Number 02624238 Charity Registration Number 1008788 Solicitors Veale Wasbrough Vizards LLP Narrow Quay House Narrow Quay Bristol BS1 4QA Independent Examiner Milsted Langdon LLP Freshford House Redcliffe Way Bristol BS1 6NL Bankers HSBC Bank PLC 62 George Street Bristol BS1 3BA CAF Bank 25 Kings Hill Avenue West Malling ME19 4JQ Triodos Bank Deanery Road Bristol BS1 5AS

Page 1

Children's Scrapstore

Report of the Chair

I am pleased to say that after a challenging time for all during the pandemic the Scrapstore is now returning to normal. We are definitely a different organisation now and perhaps the better for it as we have had time to really consider what is important to us, and now work towards building on that.

Our focus during Covid was on funded work which helped us support the local communities and this still continues. We are establishing an excellent reputation for knowledge and skill within the play area which has really helped us apply for targeted funding which allows us to fulfil our charitable goals of ‘providing or assisting in the provision of facilities for recreation, education and other leisure time activities for children, being facilities of which such children have need by reason of their age or social or economic circumstances, and which will improve the conditions of life for such children by promoting their educational, physical or mental wellbeing.’

This year we have been fortunate to take on two new trustees, Sally Jaeckle and Alban Forster, both who bring new skills to our existing trustee pool. We now have a strong trustee group who have all supported the charity through the pandemic, often with practical support as well as by making difficult decisions as we navigated the difficult time.

We have also been very lucky with our staff. Although we downsized during Covid we have maintained an enthusiastic and skilled team who always drive the organisation forward. I’d like to mention specifically our long serving cleaners Emma Campbell and Maryam Munir who did the difficult job of keeping our spaces clean and disinfected during a time when this became more essential than ever.

We look forward to the coming year as the charity continues to rebuild itself post pandemic and move forward with lots of exciting new ideas and initiatives.

Pete Simpson Chair of Trustees

Page 2

Children's Scrapstore

Trustees' Report

The Trustees are pleased to present their annual Trustees’ report together with the consolidated financial statements of the charity and subsidiary for the year ended 31 March 2022 which are also prepared to meet the requirements for a Trustees’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards 102.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document, and constitution

The charity is a company limited by guarantee and therefore has no share capital. It is governed by a Memorandum and Articles of Association, dated 26 June 1991. It is registered as a charity with the Charity Commission.

The Trustees are responsible for strategy, policy and financial oversight of the company. Implementation of this is delegated to the Chief Executive Officer and Deputy Chief Executive Officer.

Pay policy for senior staff

Currently the Chief Executive Officer is a freelance consultant and the Deputy Chief Executive Officer is a salaried member of staff. The remuneration for both is governed by the remuneration policy.

The charity’s Trustees perform the strategic lead for the charity together with being responsible for the overview of all operational items which would potentially impact on the charity’s ability to meet its objects, maintain financial stability and affect the ethos of the charity. All Trustees give their time freely and no Trustee received remuneration for their duties as a Trustee in the year. Trustees claimed reasonable travel expenses during this year.

The policies and procedures adopted for the induction and training of Trustees

When selecting new Trustees the charity seeks people who can bring relevant expertise.

Children’s Scrapstore continues to update the Trustees' handbook, ensuring that it adheres to the Charity Commission guidelines. The handbook and induction process is used familiarise new Trustees with all aspects of the work done by the charity and briefs them on their legal obligations under charity and company law, the committee and decision-making process, and key staffs.

Trustees are made aware of the literature and websites of independent governance advisory agencies and can access these at any time.

Organisational structure and management of the charity by the board of Trustees

The board of Trustees administers the charity. The board meets bi-monthly, where financial reports are presented and discussed as well as operational and safeguarding reports. Other sub-groups are formed for specific activities as and when they occur. The Trustees delegate their responsibilities for the day-to-day administration of the charity to the senior management team.

The Trustees who served during the year are listed on page 1.

Page 3

Children's Scrapstore

Trustees' Report

Major risk management

The Trustees have a major risk management strategy which comprises:

A key element in the management of financial risk is the setting of a reserves policy and its regular review by Trustees.

Following the Covid-19 pandemic in March 2020, the risks to the charity were identified and a formal emergency forecast was prepared and reviewed and agreed by the trustees.

During 2021-2022, Government legislation dictated various closures of elements of our trading during the year and we reached and planned for these closures to ensure the sustainability of the charity.

The trustees met more regularly, e.g. at least once a month in order to actively manage the risk to the charity.

Objectives and activities

Our main activities and who we aim to help are described below. All of our charitable activities focus on the encouragement of Reuse, Art and Play and are undertaken to further our charitable objects for the public benefit.

Objects, as set out in the governing document

The objects of the Scrapstore shall be: to provide, or assist in the provision of, facilities for recreation, education, and other leisure time activities for children, being facilities of which such children have need by reason of their age, or social or economic circumstances; and which will improve conditions of life for such children by promoting their educational, physical or mental well-being; to promote the use of waste materials as playthings.

How our activities deliver public benefit

Children’s Scrapstore’s overarching aim is to promote the wellbeing of children, young people and adults through the provision of materials and facilities for creative and imaginative play. We do this through:

  1. Waste collection and re-use

  2. Provision of materials and facilities for play and creativity

  3. Promotion of play and creativity

In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission’s guidance on public benefit.

Children’s Scrapstore’s objective therefore is to allow children, young people and adults to play, experiment, and stimulate their imaginations with a variety of familiar and unusual, inexpensive materials through the re-use of safe and appropriate scrap - a chance they might not otherwise have. Children’s Scrapstore collects waste and surplus materials from industry and commerce and makes them available, at very little cost, to our member groups. The focus of Children’s Scrapstore’s work is to provide art and craft resources for creative play and education, provide other resources to complement this work, and to raise awareness of play, creativity and re-use.

Page 4

Children's Scrapstore

Trustees' Report

Fundraising

Children’s Scrapstore’s approach to fundraising is carried out with the objective of raising funds to support core work. All fundraising is carried out through recognised funds or trusts and the charity does not approach the public for any fundraising purposes, nor does it work with any commercial participators or professional fundraisers. As a result, no complaints from the public have been documented.

Membership

Membership is open to any groups or individuals working or volunteering with a group of children, young people or adults in a creative, play, care, educational, therapeutic or community setting.

Our membership includes playgroups, nurseries, crèches, parent and toddler groups, resources and activities centres, cubs, scouts, guides, brownies, beavers, woodcraft folk, city farms, adventure playgrounds, hospitals, arts, environmental, care homes, theatre groups, schools, universities and colleges.

Many of our members have limited budgets and rely heavily on the value for money resources that Children’s Scrapstore provide. The resources range from off-cuts of paper, card, wood, fabrics and hot air balloon material, to plastic trays, boxes and empty tins.

Future developments and sustainability

Primarily our charitable activities focus on the encouragement of play and creative activities and are undertaken to further our charitable objects for the public benefit. We play a strategic role in Reuse, Art and Play both locally and nationally. We have spent time this year building infrastructure support in these three sectors. We continue to build and develop partnerships and act as a focus for local and regional organisations and leaders in these sectors.

Our sustainability in terms of skills, resources and financial stability continues to be at the forefront of our developments. Successful rebuilding after the impact of the pandemic continues to be a focus. Services developed as our emergency pandemic response have given the charity new connections, and the viable elements of this will continue to be developed.

Main objectives for the year and strategies for achieving those objectives

Ensure that all of our pre covid services are back up and running and embedded sustainably with the existing staff team

Reintroduce services at pre-pandemic levels

All services are back running at a slightly reduced level compared to pre-pandemic. We will continue to increase capacity as we are able to and there is sufficient demand and need.

We are aiming to build a solid foundation through gradual growth of our tried and tested services before we develop anything new.

Improve our ability to demonstrate impact though collecting/collating and using data

We have plans in place for 2023-2024 and in 2022/2023 will design the systems to capture data in ways that suit our operations and capacity

Page 5

Children's Scrapstore

Trustees' Report

Improve our presence with clear consistent joined up messaging with our three areas, ReUSE, ART and PLAY

Family Arts Network

We will support the Family Arts Campaign to adapt to the emerging landscape following the pandemic. Supporting the submission of a continuation funding bid to the Arts Council for the Ambassador program using what we have learnt from rebuilding the Family Arts Network.

To continuously improve our internal systems and process, making them clear and practical

improve organisational systems and processes

We are continuing to improve our systems and processes for all building maintenance and operational requirements throughout the organisation. We have continued to find specialists where we felt their knowledge would enhance our skills and understanding. One of our biggest areas for improvements this year is strategic planning and how that filters up and down through the organisation. Strategic plans have been put in place for the two years 2022/2023 and 2023/2024 and these are monitored by the senior leadership team on a monthly and quarterly basis.

Partnership and collaborations including supporting sector infrastructure

Sustainable Play

As a major delivery partner on the Lottery funded Sustainable Play Project, we have and will continue to develop play provision in Lawrence Weston and Frome Vale. We lead the training consultancy element of this project in partnership with Bristol Association for Neighbourhood Daycare, and we play a strategic lead role in the project with alongside Learning Partnership West.

Local Partnerships

We recognise the power of working in partnership in terms of delivering effective local services in cost effective ways, and have and will continue to develop new partnerships by attending new network meetings. Where we find synergy, we will take time to explore ways of working together, including offering generous leadership to cross-sector panels and steering groups.

Holiday Activity and Food Programme

We have been an integral part of the planning project team for this fund and we are going to continue to support this strategic role, as well as deliver play sessions including food and the production of activity packs for children who cannot attend play sessions.

To build a stable financial base from which we can grow in the following 5 years

Building maintenance and development

We will continue to maintain the building and begin plans for major improvements, which will involve building contractors and the possibility of additional funding needs.

ACHIEVEMENTS AND PERFORMANCE OF THE CHARITY

A review of activities

Frome Town Council

The play strategy for Frome Town Council has been successfully completed.

Page 6

Children's Scrapstore

Trustees' Report

Survival of the Charity post pandemic

Strategic and Financial planning has enabled the charity to resume usual services and operations. Additional staff have been employed to ensure effective operations. We kept a careful eye on uptake of services and footfall to ensure our resources met the needs of the charity and demands from members and customers. Cash flow has remained positive throughout the year.

Online shop

We have continued to support an online shop which although not a major part of our income, provides a valuable service to some of our customers especially those requiring delivery of shop goods.

Support for our Membership

We have maintained the membership price at pre-pandemic level and been able to continue with the members 20% discount on shop goods.

The introduction of the Supporter Plus Card has been an excellent way of been able to engage new people who would not otherwise be eligible for our standard memberships and who require a reduced amount of scrap.

Funded projects

We have continued to build our relationships with new funders, supporters and partners. This has led to the continued development of some of the services which started as responses to the pandemic.

Local sector engagement

We developed the role of Playful Bristol Coordinator, which involves promoting the benefits of what the sector can bring to the city. As a result we have been successfully involved with: Transition to Family Hubs

Holiday Activity and Food Programme Children and Young People One City Board The Bristol Community Youth Action (BYCA) board Play England

Volunteers

We have maintained a brilliant group of regular volunteers who have become a valued resource for the organisation. We will continue to develop a small volunteers programme.

Investment performance

Surplus short-term funds are held in an interest-bearing deposit account, on which small levels of income were received.

FINANCIAL REVIEW

Transactions and financial position

The Trustees consider the financial performance during the year.

The accounts are set out on pages 13 - 37. The accounts have been prepared implementing the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards 102 issued by the Charity Commission for England and Wales (effective 1 January 2019).

The Statement of Financial Activities (SOFA) shows net (expenditure)/income for the year of a revenue nature.

The total at the foot of the Balance Sheet shows the total reserves at the year end.

Page 7

Children's Scrapstore

Trustees' Report

Policies on reserves

The policy is to maintain reserves at the level necessary to sustain the planned activities of the charity.

The accounting policies (Note l) sets out the funds being operated and their respective applications.

The Designated fund is maintained at a level equivalent to the investment in the freehold property less the mortgage. This is held within the building and forms the basis of Scrapstore’s stability and flexibility.

The General fund accumulated surplus is intended to be raised to a level equal to between 3 and 6 months of the resources expended. At this level the Trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding.

However, the General fund as at 31 March 2022 was 371,310 (2021 - £297,207 as restated), which represented more than the level of 3 months of core opening expenses it is the Trustees’ policy to retain. The Trustees’ long term plan is to remain at this level.

Restricted funds , if any, are spent in line with the donor’s wishes or funder’s agreements as soon as possible.

Principal funding sources

Funding is via membership fees, trading arm surplus, events, donations for scrap, sales of PlayPods, Play Services and grants. During this year there was a greater reliance on grant funding due to some of our funding sources being paused.

Investment policy and objectives

The Trustees have wide powers of investment. Surplus short-term funds are held in an interest bearing deposit account.

Availability and adequacy of assets of each of the funds

The board of Trustees is satisfied that the charity’s assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Changes in fixed assets

Changes in fixed assets are shown in detail in note 12 to the accounts. There has been capital expenditure of £15,745 this year, and the assets continue to be repaired and maintained as and when necessary.

Governance:

The board of Trustee provide strategic governance of the charity and adhere to all legal and statutory obligations as well as Charity Commission guidance.

Statement regarding disclosure to our Independent Examiners

In so far as the Trustees are aware at the time of approving our Trustees’ annual report: - there is no relevant information, being information needed by the independent examiner in connection with preparing their report, of which the group’s independent examiner is unaware; and - the Trustees have taken all steps they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.

Page 8

Children's Scrapstore

Trustees' Report

Independent Examination

Milsted Langdon have been reappointed as the Independent Examiners for the year ended 31 March 2023.

Approved by the board on 08 December 2022 and signed on its behalf by:

......................................... P R Simpson Trustee

Page 9

Children's Scrapstore

Statement of Responsibilities

The trustees (who are also the directors of Children's Scrapstore 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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 parent charitable company and the group and of the incoming resources and application of resources, including its income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the parent charitable company and the group 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 parent charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on ....................8 December 2022and signed on its behalf by:

......................................... Mr P R Simpson Trustee

Page 10

Children's Scrapstore

Independent Examiner's Report to the trustees of Children's Scrapstore ('the Group')

I report to the charity trustees on my examination of the consolidated accounts of the Group comprising the Children's Scrapstore and its subsidiary undertakings for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the Group (and also its directors for the purposes of company law) you are responsible for the preparation of the consolidated accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of both Children's Scrapstore and the Group 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 consolidated 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

Since the Group'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 ICAEW, 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 Children's Scrapstore 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.

...................................... D S Jacobs FCA Milsted Langdon LLP

Freshford House Redcliffe Way Bristol BS1 6NL

Date:.............................30 January 2023

Page 11

Children's Scrapstore

Consolidated Statement of Financial Activities for the Year Ended 31 March 2022

(Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

(As restated)
Unrestricted Restricted Total Total
funds funds 2022 2021
Note £ £ £ £
Income and Endowments from:
Donations and legacies 2 198,562 - 198,562 184,768
Charitable activities 3 210,176 120,050 330,226 499,394
Other trading activities 4 348,760 - 348,760 350,310
Investment income 5 5 - 5 5
Total Income 757,503 120,050 877,553 1,034,477
Expenditure on:
Raising funds 6 (76,773) - (76,773) (63,612)
Charitable activities 7 (576,098) (123,361) (699,459) (732,282)
Total Expenditure (652,871) (123,361) (776,232) (795,894)
Net income/(expenditure) 104,632 (3,311) 101,321 238,583
Net movement in funds 104,632 (3,311) 101,321 238,583
Reconciliation of funds
Total funds brought forward 1,156,451 10,495 1,166,946 928,363
Total funds carried forward 19 1,261,083 7,184 1,268,267 1,166,946

All of the group's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 19.

The notes on pages 16 to 44 form an integral part of these financial statements. Page 12

Children's Scrapstore

(Registration number: 02624238) Consolidated Balance Sheet as at 31 March 2022

2021
2022 £ (As
Note £ restated)
Fixed assets
Tangible assets 12 1,110,207 1,125,952
Current assets
Stocks 14 39,053 39,560
Debtors 15 103,042 70,552
Cash at bank and in hand 23 423,493 368,820
565,588 478,932
Creditors: Amounts falling due within one year 16 (233,395) (193,085)
Net current assets 332,193 285,847
Total assets less current liabilities 1,442,400 1,411,799
Creditors: Amounts falling due after more than one year 17 (174,133) (244,853)
Net assets 1,268,267 1,166,946
Funds of the group:
Restricted income funds
Restricted funds 19 7,184 10,495
Unrestricted income funds
Unrestricted funds 1,261,083 1,156,451
Total funds 19 1,268,267 1,166,946

For the year ended 31 March 2022 the charity was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the charity to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The members acknowledge their responsibility for complying wth the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to charities subject to the small companies regime.

The financial statements on pages 12 to 44 were approved by the trustees, and authorised for issue on ....................8 December 2022 and signed on their behalf by:

......................................... Mr P R Simpson Trustee

The notes on pages 16 to 44 form an integral part of these financial statements. Page 13

Children's Scrapstore

(Registration number: 02624238) Balance Sheet as at 31 March 2022

(As restated)
2022 2021
Note £ £
Fixed assets
Tangible assets 12 1,110,207 1,124,130
Investments 13 100 100
1,110,307 1,124,230
Current assets
Debtors 15 131,188 99,898
Cash at bank and in hand 23 423,493 368,820
554,681 468,718
Creditors: Amounts falling due within one year 16 (222,588) (181,149)
Net current assets 332,093 287,569
Total assets less current liabilities 1,442,400 1,411,799
Creditors: Amounts falling due after more than one year 17 (174,133) (244,853)
Net assets 1,268,267 1,166,946
Funds of the charity:
Restricted 7,184 10,495
Unrestricted income funds
Unrestricted 1,261,083 1,156,451
Total funds 19 1,268,267 1,166,946

For the year ended 31 March 2022 the charity was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the charity to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The members acknowledge their responsibility for complying wth the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to charities subject to the small companies regime.

The financial statements on pages 12 to 44 were approved by the trustees, and authorised for issue on ....................8 December 2022 and signed on their behalf by:

......................................... Mr P R Simpson Trustee

The notes on pages 16 to 44 form an integral part of these financial statements. Page 14

Children's Scrapstore

Consolidated Statement of Cash Flows for the Year Ended 31 March 2022

(As restated)
2022 2021
Note £ £
Cash flows from operating activities
Net cash income 101,321 238,583
Adjustments to cash flows from non-cash items
Depreciation 6 31,473 32,225
Investment income 5 (5) (5)
132,789 270,803
Working capital adjustments
Decrease/(increase) in stocks 14 507 (1,802)
(Increase)/decrease in debtors 15 (32,490) 27,037
Increase in creditors 16 3,497 1,469
Increase/(decrease) in deferred income 17 36,401 (1,638)
Net cash flows from operating activities 140,704 295,869
Cash flows from investing activities
Interest receivable and similar income 5 5 5
Purchase of tangible fixed assets 12 (15,728) (22,384)
Net cash flows from investing activities (15,723) (22,379)
Cash flows from financing activities
Value of new loans obtained during the period 21 - 50,000
Repayment of loans and borrowings (70,308) (568)
Net cash flows from financing activities (70,308) 49,432
Net increase in cash and cash equivalents 54,673 322,922
Cash and cash equivalents at 1 April 368,820 45,898
Cash and cash equivalents at 31 March 423,493 368,820

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 16 to 44 form an integral part of these financial statements. Page 15

Children's Scrapstore

Notes to the Financial Statements for the Year Ended 31 March 2022

1 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Children's Scrapstore 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 notes.

Page 16

Children's Scrapstore

Notes to the Financial Statements for the Year Ended 31 March 2022

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 31 March 2022.

No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity made a surplus for the financial year of £101,321 (2021 - £238,583).

A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the statement of financial activities from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination. Total comprehensive income is attributed to non-controlling interests even if this results in the non-controlling interests having a deficit balance.

Going Concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future despite the ongoing Covid-19 pandemic, energy and cost of living increases. Thus the trustees have continued to adopt the going concern basis of accounting in preparing the financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 17

Children's Scrapstore

Notes to the Financial Statements for the Year Ended 31 March 2022

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it relates. Such income is only deferred when:

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

All resources expended are inclusive of irrecoverable VAT.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including the independent examination, strategic management and trustees meetings and reimbursed expenses.

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Page 18

Children's Scrapstore

Notes to the Financial Statements for the Year Ended 31 March 2022

Taxation

The charity 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 charity 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.

Tangible fixed assets

Individual fixed assets costing £250 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Land and buildings 2% straight line on buildings. No
depreciation on land.
Furniture and equipment 25% straight line
Motor vehicles 25% straight line
Website development 25% straight line
Improvements to property 2% straight line

Impairment of fixed assets

Property, plant and equipment and investments in subsidiaries are tested for impairment whenever there is an indication that the assets may be impaired. The difference between the carrying amount and their recoverable amount is recognised as an impairment loss and charged as an expense.

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the Average Cost method (AVCO). Net realisable value is based on selling price less anticipated costs to completion and selling costs.

There is a volume of low value items held as stock that have been donated for resale or distribution that are not included in the financial statements as they are not individually priced, but acquired as a donation to the charity which is not establised until the time of the transaction.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

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Notes to the Financial Statements for the Year Ended 31 March 2022

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the group.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution scheme for employees and the costs charged in the financial statements represent the contributions payable by the charity during the year.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its liabilities.

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Children's Scrapstore

Notes to the Financial Statements for the Year Ended 31 March 2022

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the group intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the group transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the group, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

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Notes to the Financial Statements for the Year Ended 31 March 2022

2 Income from donations and legacies

Unrestricted

Unrestricted
**(As ** restated)
Total Total
General 2022 2021
£ £ £
Donations 2,192 2,192 2,632
Donations from scrap 196,370 196,370 182,136
198,562 198,562 184,768

£198,562 (2021 - £184,768) of the income above was attributable to unrestricted funds and £Nil (2021 - £Nil) attributable to restricted funds.

3 Income from charitable activities

Unrestricted Unrestricted
funds Restricted Total Total
General funds 2022 2021
£ £ £ £
Grant income - 120,050 120,050 184,507
Income earned from provision
of goods and services 57,668 - 57,668 30,035
Playpod income 152,508 - 152,508 143,597
Government grants receivable - - - 141,255
210,176 120,050 330,226 499,394

£210,176 (2021 - £314,887) of the income above was attributable to unrestricted funds and £120,050 (2021 - £184,507) attributable to restricted funds.

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Notes to the Financial Statements for the Year Ended 31 March 2022

4 Income from other trading activities

Unrestricted
funds
Total Total
General 2022 2021
£ £ £
Trading income;
Shop sales 145,125 145,125 146,024
Rental income 203,635 203,635 204,286
Government grants receivable - - 141,255
348,760 348,760 491,565

£348,760 (2021 - £491,565) of the income above was attributable to unrestricted funds and £Nil (2021 - £Nil) attributable to restricted funds.

5 Investment income

Unrestricted
funds Total Total
General 2022 2021
£ £ £
Interest receivable and similar income;
Interest receivable on bank deposits 5 5 5

£5 (2021 - £5) of the income above was attributable to unrestricted funds and £Nil (2021 - £Nil) attributable to restricted funds.

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Notes to the Financial Statements for the Year Ended 31 March 2022

Children's Scrapstore

6 Expenditure on raising funds

a) Costs of trading activities

Unrestricted
funds Total Total
General 2022 2021
£ £ £
Costs of goods sold 72,068 72,068 61,014
Volunteer and staff expenses 86 86 34
Property rental income costs 577 577 -
Printing postage and stationery 1,143 1,143 739
Marketing and publicity 2,899 2,899 1,825
76,773 76,773 63,612

£76,773 (2021 - £63,612) of the expenditure above was attributable to unrestricted funds and £Nil (2021 - £Nil) attributable to restricted funds.

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Notes to the Financial Statements for the Year Ended 31 March 2022

7 Expenditure on charitable activities

Activity Activity Activity
undertaken support
directly costs 2022 2021
£ £ £ £
PlayPod project expenses 34,261 - 34,261 46,507
Wages and pensions 345,173 - 345,173 343,479
Staff training 6,088 - 6,088 520
Rent and rates 4,797 - 4,797 4,083
Building service costs 63,708 - 63,708 47,641
Repairs, renewals and building
maintenance 10,127 - 10,127 2,630
Cleaning 9,832 - 9,832 5,909
Accountancy fees - 67,240 67,240 59,348
Independent Examiners'
remuneration - 6,763 6,763 5,500
Staff and refreshment costs - 1,677 1,677 1,202
Insurance and alarm - 16,385 16,385 14,685
Warehouse renewal and repairs - 2,661 2,661 397
Small computer software - 6,639 6,639 6,485
Telephone and fax - 7,040 7,040 8,512
Printing, postage and stationery - 3,728 3,728 4,542
Subscriptions and affiliations - 708 708 338
Sundry and other costs - 2,662 2,662 4,726
Motor and travel - 13,473 13,473 7,397
Play Events expenses 504 - 504 250
Legal and professional - 6,770 6,770 7,353
Bank charges - 7,219 7,219 4,821
Grant fund spending
(non-salaries) 42,061 - 42,061 117,631
Mortgage interest - 5,750 5,750 5,921
Irrecoverable VAT - 2,720 2,720 180
Depreciation - 31,473 31,473 32,225
516,551 182,908 699,459 732,282

£516,551 (2021 - £542,053) of the expenditure above was attributable to unrestricted funds and £182,908 (2021 - £185,687) attributable to restricted funds.

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Notes to the Financial Statements for the Year Ended 31 March 2022

Children's Scrapstore

8 Analysis of governance and support costs

Governance costs

Unrestricted
funds
Total Total
General 2022 2021
£ £ £
Examination fees
Examination of the financial statements 4,200 4,200 5,500
Other fees paid to examiners 2,563 2,563 3,500
Other governance costs - - 1,963
6,763 6,763 10,963
9 Net outgoing resources
Net outgoing resources for the year include:
2022 2021
£ £
Independent Examination Fees 4,200 5,500
Depreciation of fixed assets 31,473 32,225

10 Trustees remuneration and expenses

During the year the group made the following transactions with trustees:

Mr P R Simpson

£Nil (2021: £33) of expenses were reimbursed to Mr P R Simpson during the year.

No trustees, nor any persons connected with them, have received any remuneration from the group during the year.

No trustees have received any other benefits from the charity during the year.

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Notes to the Financial Statements for the Year Ended 31 March 2022

11 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
2022 2021
£ £
Staff costs during the year were:
Wages and salaries 322,601 321,413
Social security costs 11,226 11,953
Pension costs 11,346 10,113
345,173 343,479

The monthly average number of persons (including senior management / leadership team) employed by the group during the year was as follows:

by the group during the year was as follows:
2022 2021
No No
Support staff 2 2
Charitable activities 20 21
22 23

22 (2021 - 23) of the above employees participated in the Defined Contribution Pension Schemes. No employee received emoluments of more than £60,000 (2021 - £60,000) during the year.

Key management personnel

The total employee benefits of the key management personnel of the group were £159,845 (2021 - £150,617).

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Notes to the Financial Statements for the Year Ended 31 March 2022

12 Tangible fixed assets

Group

Group
Furniture
Land and and Motor Website Improvements
buildings equipment vehicles development to property Total
£ £ £ £ £ £
Cost
At 1 April 2021 550,000 100,511 76,972 2,000 804,120 1,533,603
Additions - 2,338 13,390 - - 15,728
At 31 March 2022 550,000 102,849 90,362 2,000 804,120 1,549,331
Depreciation
At 1 April 2021 18,000 93,165 64,576 2,000 229,910 407,651
Charge for the
year 1,200 7,378 6,813 - 16,082 31,473
At 31 March 2022 19,200 100,543 71,389 2,000 245,992 439,124
Net book value
At 31 March 2022 530,800 2,306 18,973 - 558,128 1,110,207
At 31 March 2021 532,000 7,346 12,396 - 574,210 1,125,952

The cost of freehold land and buildings includes £60,000 (2021 - £60,000) of depreciable assets.

Part of the freehold property is let to other organisations generating rental income. The value of the let property is not separately identifiable.

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Notes to the Financial Statements for the Year Ended 31 March 2022

Charity

Charity
Furniture
Land and and Motor Website Improvements
buildings equipment vehicles development to property Total
£ £ £ £ £ £
Cost
At 1 April 2021 550,000 93,226 76,972 2,000 804,120 1,526,318
Additions - 2,338 13,390 - - 15,728
At 31 March 2022 550,000 95,564 90,362 2,000 804,120 1,542,046
Depreciation
At 1 April 2021 18,000 87,702 64,576 2,000 229,910 402,188
Charge for the year 1,200 5,557 6,812 - 16,082 29,651
At 31 March 2022 19,200 93,259 71,388 2,000 245,992 431,839
Net book value
At 31 March 2022 530,800 2,305 18,974 - 558,128 1,110,207
At 31 March 2021 532,000 5,524 12,396 - 574,210 1,124,130

13 Fixed asset investments

Charity

Charity
2022 2021
£ £
Shares in group undertakings and participating interests 100 100
Shares in group undertakings and participating interests
Subsidiary
undertakings Total
£ £
Cost
At 1 April 2021 100 100
At 31 March 2022 100 100
Net book value
At 31 March 2022 100 100
At 31 March 2021 100 100

Details of undertakings

Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:

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Notes to the Financial Statements for the Year Ended 31 March 2022

Country of Proportion of voting Principal
Undertaking incorporation Holding rights and shares held activity
2022
2021
Subsidiary undertakings
Artrageous Creative
Limited		 England and
Wales		 Ordinary 100%
100%		 Sale
of
supplies		 art

Subsidiaries

The profit for the financial period of Artrageous Creative The profit for the financial period of Artrageous Creative The profit for the financial period of Artrageous Creative The profit for the financial period of Artrageous Creative Limited was £Nil and Limited was £Nil and Limited was £Nil and the aggregate amount aggregate amount aggregate amount aggregate amount aggregate amount
of capital and reserves at the end of the period was £100.
Subsidiary Profit and Loss 2022 2021
£ £
Turnover 145,125 146,024
Cost of Sales (72,068) (61,014)
Administrative expenses (73,057) (85,010)
Net Profit - -
Subsidiary Capital and Reserves 2022 2021
£ £
Total assets 40,325 42,441
Total liabilities (40,225) (42,341)
Net assets 100 100
Total equity 100 100
14 Stock
Group Charity
2022 2021 2022 2021
£ £ £ £
Stocks 39,053 39,560 - -
15 Debtors

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Notes to the Financial Statements for the Year Ended 31 March 2022

Group Group Group Charity Charity Charity
2021
2022 2021 2022 £ (As
£ £ £ restated)
Trade debtors 79,424 52,106 79,424 52,106
Due from group undertakings - - 29,418 30,405
Prepayments 11,165 7,376 11,165 6,317
Accrued income 11,163 11,070 11,163 11,070
Other debtors 1,290 - 18 -
103,042 70,552 131,188 99,898
16 Creditors: amounts falling due within one year
Group Charity
2021
2022 £ (As 2022 2021
£ restated) £ £
Bank loans 52,525 52,113 52,525 52,113
Trade creditors 47,253 15,876 40,438 11,292
Other taxation and social
security 29,776 47,647 29,776 47,647
VAT grant repayable 1,393 7,023 - -
Other creditors 1,123 432 1,123 432
Accruals 9,710 14,780 7,111 14,451
Deferred income 91,615 55,214 91,615 55,214
233,395 193,085 222,588 181,149
Creditors due within one year includes the following liabilities on which security has been given:
Group Charity
2022 2021 2022 2021
£ £ £ £
Bank loans 48,797 49,007 48,797 49,007
Deferred income
2022 2021
£ £
Deferred income at 1 April 2021 55,214 56,852
Resources deferred in the period 117,010 42,728
Amounts released from previous periods (80,609) (44,366)
Deferred income at year end 91,615 55,214

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Notes to the Financial Statements for the Year Ended 31 March 2022

17 Creditors: amounts falling due after one year

Group Group Group Charity Charity Charity
2022 2021 2022 2021
£ £ £ £
Bank loans 174,133 244,853 174,133 244,853
Creditors amounts falling due after more than one year includes the following liabilities on which
security has been given:
Group Charity
2022 2021 2022 2021
£ £ £ £
Bank loans 150,357 197,959 150,357 197,959

Group

Included in the creditors are the following amounts due after more than five years:

2022 2021
£ £
After more than five years by instalments 8,867 31,985
Charity

Included in the creditors are the following amounts due after more than five years:

2022 2021
£ £
After more than five years by instalments 8,867 31,985

18 Pension and other schemes Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £11,346 (2021 - £10,113).

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Notes to the Financial Statements for the Year Ended 31 March 2022

19 Funds

Group

Group
Balance at Balance at
1 April Incoming Resources 31 March
2021 resources expended Transfers 2022
£ £ £ £ £
Unrestricted funds
General
Unrestricted income fund 297,207 757,503 (635,589) (47,811) 371,310
Designated
Building fund 859,244 - (17,282) 47,811 889,773
Total unrestricted funds 1,156,451 757,503 (652,871) - 1,261,083
Restricted funds
Grant fund - Playful Bristol - 4,761 (1,777) - 2,984
Grant fund - BYCA - 2,750 (2,750) - -
Grant fund - PlayDay - 3,030 (3,030) - -
Grant fund - Family Arts
Campaign - 6,121 (6,121) - -
Bristol City Council -
Holiday Activity Fund 7,065 - (7,065) - -
Let's Craft Packs Bristol - 1,500 (1,500) - -
Paul Hamlyn Foundation 3,430 - (3,430) - -
Bristol City Council
Holiday Activity Food
Fund - 29,479 (29,479) - -
Sustainable Play Project - 30,950 (30,950) - -
Bristol City Council Family
Hub Fund - 5,950 (5,950) - -
Bristol City Council -
Holiday Activity Fund
Winter Packs - 26,784 (26,784) - -
Playful Bristol/Oldbury
Court "Plus 16" - 5,600 (1,400) - 4,200
Bristol City Council -
Holiday Activity Food
Fund Strategic Support - 3,125 (3,125) - -
Total restricted funds 10,495 120,050 (123,361) - 7,184
Total funds 1,166,946 877,553 (776,232) - 1,268,267

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Notes to the Financial Statements for the Year Ended 31 March 2022

Balance at
Balance at 31 March
1 April Incoming Resources 2021
2020 resources expended Transfers £ (As
£ £ £ £ restated)
Unrestricted funds
General
Unrestricted income fund 31,484 849,970 (592,925) 8,678 297,207
Designated
Building fund 885,204 - (17,282) (8,678) 859,244
Total unrestricted funds 916,688 849,970 (610,207) - 1,156,451
Restricted funds
Bristol City Council Play
Day 1,825 4,000 (5,825) - -
BYCA grant 1,300 1,500 (2,800) - -
Community Learning
Project 6,200 - (6,200) - -
Bristol Refugee Rights -
Quartet 2,350 - (2,350) - -
Grant fund - Playful Bristol - 440 (440) - -
Learning Partnerships
West - Summer Play - 24,800 (24,800) - -
Grant fund - Dadcast - 2,000 (2,000) - -
Grant fund - Family Arts
Campaign - 7,667 (7,667) - -
Grant fund - Foundation
for Children Winter Packs - 10,260 (10,260) - -
Bristol City Council -
Holiday Activity Fund - 27,700 (20,635) - 7,065
Learning Partnership
West - Sustainable play - 30,250 (30,250) - -
Let's Craft Packs Bristol - 1,000 (1,000) - -
Paul Hamlyn Foundation - 20,000 (16,570) - 3,430
Bristol City Council -
Winter packs - 15,000 (15,000) - -
Gloucestershire Council
Covid-19 Activity Packs - 1,000 (1,000) - -
Feeding Bristol - Winter
Packs - 4,500 (4,500) - -
Feeding Bristol - Covid 19
Emergency Gap Funding - 1,390 (1,390) - -
ACE Let's Create (Bristol) - 3,000 (3,000) - -
ACE Let's Create
(Gloucester) - 2,000 (2,000) - -

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Notes to the Financial Statements for the Year Ended 31 March 2022

Balance at
Balance at 31 March
1 April Incoming Resources 2021
2020 resources expended Transfers £ (As
£ £ £ £ restated)
Feeding Bristol - Healthy
Holiday - 21,000 (21,000) - -
St Monica's - Covid 19
Activity Packs - 2,000 (2,000) - -
Quartet - Covid 19 Activity
Packs - 5,000 (5,000) - -
Total restricted funds 11,675 184,507 (185,687) - 10,495
Total funds 928,363 1,034,477 (795,894) - 1,166,946

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Notes to the Financial Statements for the Year Ended 31 March 2022

Charity
Balance at 1 Incoming Resources Balance at 31
April 2021 resources expended March 2022
£ £ £ £
Unrestricted funds
General
Unrestricted income fund 297,207 645,458 (571,355) 371,310
Designated
Building fund 859,244 30,529 - 889,773
Total unrestricted funds 1,156,451 675,987 (571,355) 1,261,083
Restricted funds
Grant fund - Playful Bristol - 4,761 (1,777) 2,984
Grant fund - BYCA - 2,750 (2,750) -
Grant fund - PlayDay - 3,030 (3,030) -
Grant fund - Family Arts
Campaign - 6,121 (6,121) -
Bristol City Council - Holiday
Activity Fund 7,065 - (7,065) -
Let's Craft Packs Bristol - 1,500 (1,500) -
Grant fund - Paul Hamlyn
Foundation 3,430 - (3,430) -
Sustainable Play Project - 30,950 (30,950) -
Bristol City Council Family
Hub Fund - 5,950 (5,950) -
Bristol City Council Holiday
Activity Fund Winter Packs - 26,784 (26,784) -
Playful Bristol/Oldbury Court
"Plus 16" - 5,600 (1,400) 4,200
Bristol City Council Holiday
Activity Food Fund Strategic
Support - 3,125 (3,125) -
Bristol City Counci Holiday
Activity Food Fundl Family
Hub Fund - 29,479 (29,479) -
Total restricted funds 10,495 120,050 (123,361) 7,184
Total funds 1,166,946 796,037 (694,716) 1,268,267

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Notes to the Financial Statements for the Year Ended 31 March 2022

Balance at 31
Balance at 1 Incoming Resources March 2021
April 2020 resources expended £ (As
£ £ £ restated)
Unrestricted funds
General
Unrestricted income fund 31,484 780,417 (514,694) 297,207
Designated
Building fund 885,204 - (25,960) 859,244
Total unrestricted funds 916,688 780,417 (540,654) 1,156,451
Restricted funds
Annual Play Day 1,825 4,000 (5,825) -
BYCA Grant 1,300 1,500 (2,800) -
Community Learning Project 6,200 - (6,200) -
Bristol Refugee rights -
Quartet 2,350 - (2,350) -
Grant fund - Playful Bristol - 440 (440) -
Grant fund - St Monica's Trust - 2,000 (2,000) -
Grant fund - Dadcast - 2,000 (2,000) -
Grant fund - Family Arts
Campaign - 7,667 (7,667) -
ACE Let's Create (Bristol) - 3,000 (3,000) -
ACE Let's Create (Gloucester) - 2,000 (2,000) -
Learning Partnership West -
Summer Play - 24,800 (24,800) -
Learning Partnership Westr -
Sustainable Play - 30,250 (30,250) -
Bristol City Council - Holiday
Activity Fund - 27,700 (20,635) 7,065
Let's Craft Packs Bristol - 1,000 (1,000) -
Bristol City Council - Winter
Packs - 15,000 (15,000) -
Feeding Bristol - Winter Packs - 4,500 (4,500) -
Feeding Bristol - Covid 19
Emergency Gap Funding - 1,390 (1,390) -
Feeding Bristol - Healthy
Holiday - 21,000 (21,000) -
Gloucestershire Council
Covid-19 Activity Packs - 1,000 (1,000) -
Grant fund - Foundation for
Children Winter Packs - 10,260 (10,260) -
Grant fund - Paul Hamlyn
Foundation - 20,000 (16,570) 3,430
Quartet - Covid 19 Activity
Packs - 5,000 (5,000) -

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Notes to the Financial Statements for the Year Ended 31 March 2022

Balance at 31
Balance at 1 Incoming Resources March 2021
April 2020 resources expended £ (As
£ £ £ restated)
Total **restricted ** funds 11,675 184,507 (185,687) 10,495
Total funds 928,363 964,924 (726,341) 1,166,946

The specific purposes for which the funds are to be applied are as follows:

Unrestricted general funds are general funds that are available for use at the Trustee's discretion in furtherance of the objectives of the Group.

Unrestricted designated funds are kept at the same level as the net book value of the property held by the Group less outstanding mortgages.

Restricted general funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

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Notes to the Financial Statements for the Year Ended 31 March 2022

Restricted fund description

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Notes to the Financial Statements for the Year Ended 31 March 2022

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Notes to the Financial Statements for the Year Ended 31 March 2022

20 Analysis of net assets between funds

Group

Group
Total funds
**Unrestricted ** funds Restricted at 31 March
General Designated funds 2022
£ £ £ £
Tangible fixed assets 220,434 889,773 - 1,110,207
Current assets 558,404 - 7,184 565,588
Current liabilities (233,395) - - (233,395)
Creditors over 1 year (174,133) - - (174,133)
Total net assets 371,310 889,773 7,184 1,268,267
Total funds
**Unrestricted ** funds Restricted at 31 March
General Designated funds 2021
£ £ £ £
Tangible fixed assets 267,888 859,244 - 1,127,132
Current assets 467,257 - 10,495 477,752
Current liabilities (193,085) - - (193,085)
Creditors over 1 year (244,853) - - (244,853)
Total net assets 297,207 859,244 10,495 1,166,946

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Notes to the Financial Statements for the Year Ended 31 March 2022

Charity

Charity
Total funds
**Unrestricted ** funds Restricted at 31 March
General Designated funds 2022
£ £ £ £
Tangible fixed assets 220,434 889,773 - 1,110,207
Fixed asset investments 100 - - 100
Current assets 547,497 - 7,184 554,681
Current liabilities (222,588) - - (222,588)
Creditors over 1 year (174,133) - - (174,133)
Total net assets 371,310 889,773 7,184 1,268,267
Total funds
**Unrestricted ** funds Restricted at 31 March
General Designated funds 2021
£ £ £ £
Tangible fixed assets 261,466 859,244 - 1,120,710
Fixed asset investments 100 - - 100
Current assets 455,222 - 10,495 465,717
Current liabilities (174,728) - - (174,728)
Creditors over 1 year (244,853) - - (244,853)
Total net assets 297,207 859,244 10,495 1,166,946

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Children's Scrapstore

Notes to the Financial Statements for the Year Ended 31 March 2022

21 Analysis of net funds

Group

Group
At 1 April Financing At 31 March
2021 cash flows 2022
£ £ £
Cash at bank and in hand 368,820 54,673 423,493
Debt due within one year (52,113) (412) (52,525)
Debt due after more than one year (244,853) 70,720 (174,133)
Net debt 71,854 124,981 196,835
Other non
At 1 April Financing cash At 31 March
2020 cash flows changes 2021
£ £ £ £
Cash at bank and in hand 45,898 322,922 - 368,820
Debt due within one year (1,241) 4,042 (54,914) (52,113)
Debt due after more than one
year (199,767) (50,000) 4,914 (244,853)
Net debt (155,110) 276,964 (50,000) 71,854

22 Related party transactions

Charity

During the year the charity made the following related party transactions:

Linden Accountants Limited

(Linden accountants carry out bookkeeping services for the Charity and are controlled by the CEO of the Charity, K Fowler, and her immediate family.)

During the year, Linden Accountants provided services totalling £72,408 (2021 - £69,120) to the charity. The charity charged rent to the Linden Accountants of £23,930 (2021 - £23,746) and shop sales of £Nil (2021 - £137). The amount payable to Linden Accountants at the year end totalled £6,218 (2021 - £5,982) and the amount receivable from Linden Accountants totalled £133 (2021 - £253). No amounts have been written off in the period in respect of amounts due to or from Linden Accountants.

Trustees

During the year, the charity also reimbursed mileage expenses of £Nil (2021 - £33) to the Trustee's of the charity.

The Charity has taken advantage of the exemption under FRS 102 Section 33 not to disclose transactions with entities, 100% of whose voting rights are wholly controlled by Children's Scrapstore.

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Children's Scrapstore

Notes to the Financial Statements for the Year Ended 31 March 2022

23 Cash and cash equivalents

Group Group Group Charity Charity Charity
2022 2021 2022 2021
£ £ £ £
Cash on hand 1,682 83 1,682 83
Cash at bank 421,811 368,737 421,811 368,737
423,493 368,820 423,493 368,820

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