REGISTERED CHARITY NUMBER: 1011576 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 FOR STAFFORDSHIRE REELS ON WHEELS
STAFFORDSHIRE REELS ON WHEELS CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Page Report of the Trustees 1 to 2 Ind•p•ndent Examlnor's Roport Statement of Flnanclal Actlvltle• 8ahnc• Sheot Notes to thè Flnanclal statement8 6 to 12 Detalled Stat•m8nt ol Flnènclal Actlvbtl•s 13
STAFFORDSHIRE REELS ON WHEELS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 The Iruslees present their report wf(h the financial statements of the charity for the year ended 31 December 2020. The trusteès have adopted the provisions of Accounting and Reporting by Charities., Slalemenl of Recommended Practice applicable lo charities preparing their occounls in accordance with the Financial Reporting Standard applicable in tho UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. OBJECTIVES AND ACTIVITIES Obj•ctlve$ and alms To advance the education of the public in the knowledge, understanding and appreciation of the Arts, particularty the art of film and allied visual techniques. In furtherance of the foregoing object but no further or olheTwise, the society shall have the power lo promote the study and appreciation ol films by means ofloclures, discussions and exhibitions. To provide. or fri assist in th8 provision of, facilities for recreation for p8r8on8 in the area of Slaffordshire who have need of such facilities by reason of their age, disablement. infirmity or Social and econorn ciicumstancos with the object of improving their condbtions. ACHIEVEMENT AND PERFORMANCE The charity raised £29,47212019 £80,242> from lickel sales and invostment incom8 and £30,36612019 - nil) from government grant income and incurred chari18ble expenses of £63,48712019 - £82.0261 creating deficit of £3,64912019- £1.784 deficill. FINANCIAL REVIEW The financial aclivty of the Gharily is set on page5 4 and 5. The balan¢e of the free reserves availablè lo cover adminislralion costs 15 £24,519 12019 £28,188). The policy of the Trustees 18 lo hold sufficient reserves lo enable the trust lo meet the expenses and liabilities. The Trustses are monitoring the charity's going Concern status. FUTURE PLANS Due lo the effects and implication5 of Covid 19, the charity suspended trading in March 2020 and began operations again in October 2021. Due lo the continuing situation il is unclear al present what lulure trading will look like. However. the charity owes £42,022 to a creditor, Mr R Johnson, who has eonfimed that he will not reque$l repayment of this loan until sueh lime that the charity is in 8 pos(tDn lo fulty repay. As such, the Iru$lee$ consider the charity lo be a going concern. STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is managed by the Films Organiser, Mr R S Johnson, untjer the direct control of the Trustees. Trustee$ aro appointed by the board of trustees and serve for live years after whh thay may put themselves forward for re4ppointmenl. The trustee5 meet every six months lo review all aclivrties of the charity. Newly appointed trustees are given an oveNiew of the Trust, a copy of the governing trust deed, and referred lo the Charity Commission'$ guidance "The Essential Trustee.. What You Need lo Knt)w" and links lo the other relevant documentation on the internet. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1011576 Principal address 126 8rown Lees Road Biddulph Slokewon-Trent ST8 8PW Page 1
STAFFORDSHIRE REELS ON WHEELS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 Tru$tè&$ A Cucyk M Shingler Ind•pondont Examiner Steven Owen DPC Accountants Ltd Stone House Stone Road Business Park Stoke-On-Trent ST4 6SR Bankers SantandeT UK PLC Biindle Road Bootle Merseyside L30 4GB Sollcltors KJD Frreth Churchill House Regent Road Hanley Stoke on Trent ST1 3RQ zG-IG-Zo2l Approved by order of the board of trustees on ............................................. and Signed on its beh81f by." - Trustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAFFORDSHIRE REELS ON WHEELS Independent examlnerfs report to the trustses of Staffordshlre Reels On Wheels I report lo the charity Iru5tees on my examination of the accounts of Slaffordshire Reels On Wheels (the Trust) for the year ended 31 December 2020. Responslbllltles and basls of report As the charity trustees of the Trust you are responsible for the preparation of the accounls in accordance with the requir8menls of the Charrties Act 2011 {'Ihe Acl'l. I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Direction5 given by the Charty Commission under section 1451511bl of the Act. Independent examlnèrfs statement I have completed my examination. I confirn that no material matters have Come to my attention in connection wrth th& examination giving me cause lo believe that in any matèrial respect.. accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or the accounts do not aceord wrth those records.. or the accounts do not comply with the applicable requirements concerning the form and content cf aecounts set out in the Charitie5 (Accounts and Reports) Regulation8 2008 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. I have no concerns and have come across no other matters in connection wrth the examination to which attention should be dr8wn in this report in ordor lo enable a proper understanding of the accounts be reached. Steven Owen DPC Accounlanls Ltd Stone House Stone Road Busine55 Park Sloke-On-Trenl ST4 6SR Dale.. 27.10.2021 Page 3
STAFFORDSHIRE REELS ON WHEELS sTATEmEP OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 31.12.20 Unreslricled funds 31.12.19 Total funds Notes INCOMING RESOURCES FROM Voluntary income 29,406 80,114 Investment income Other income 66 128 Totsl 59,838 80,242 EXPENDITURE ON Raising lund5 63,487 82.026 NET INCOMEIIEXPENDITUREI (3,6491 11,7841 RECONCILIATION OF FUNDS Total lunds brought forward 28,168 29,952 TOTAL FUNDS CARRIED FORWARD The notes forrn part of these financial statements Page 4
STAFFORDSHIRE REELS ON WHEELS BALANCE SHEET 31 DECEMBER 2020 31.12.20 Unrestricted funds 31.12.19 Total funds Notes FIXED ASSETS Tangible a55ets 24,950 28,139 CURRENT ASSETS Debtors Cash at bank and in hand 24,864 24,192 25,307 30,376 49.056 55.683 CREDITORS AmoLtnts falling due wthin ong year 10 149,4871 155.6541 NET CURRENT ASSETS 4311 29 TOTAL ASSETS LESS CURRENT LIABILITIES 24,519 28,168 NET ASSETS 24,519 28,168 FUNDS Unrestricted funds 28.168 TOTAL FUNDS 24,519 28,168 The financial slalemenls were approved by the Board of Trustees and aulhori$ed for issue on 26-10-2021 and were signed on 118 behalf by.. yk- Tru81ee The notes fom) part of these fin8ncial statements Page 5
STAFFORDSHIRE REELS ON WHEELS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 ACCOUNTING POUCIES Accountlng conventlon The financial statements have been prepared on the historieal cost basis. as modrfied by the revaluation of certain assets and liabilrties rneasur at fair value through income or expendrture. The financial statemen15 are prepared in sterling, which is the functional currency of the entity. Judgomonts and key sources of e•tlmatlon uncertalnty The preparation of the financial slalemenls requires management lo make judgements, estimates and assumptions that effect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors. including expectations of flrture events that are believed to be reasonable under the circumstancas. E8tlm•t•d useful Ilve• and ro8ldu41 v•luas of Ilxed assèt• AS described in the note8 to the financial $tslemenls, depreciation of tangible fixed assets has been based on e$limated useful lives and residual values deemed appropriate by the directors. Eslimaled useful live$ and residual values are reviewed annually and revised 8s appropriate. Revisions lake into account eslimaled useful lives used by other companie8 in the sector and actual asset livès and rtssiduaS values, as evidènced by disposals ¢Juring the current and prior accounting periods. Statement of compllanc• These financial 8lal8menls have begn prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Slalemenl of Recommended Practice applicable lo charities preparing their 8ccounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharfties SORP IFRS 10211 and the Charities Act 2011. Incomlng resources All incoming resources 8r8 ineluded in the 8talemenl of flnancial activities when anlstlemenl ha8 passed lo the charity,. il ig probable that the oconomic benefits associated with the transaction will flow lo the charity, and the amount can be reliably measured. The following specifie policies 8re applied to particular categories of income,, income from donations or gfanls is recognisèd when there is evidence of enlillemenl lo the gift, receipt 18 probablo and f(5 amount c8n be measured relbly. legacy income is rwnisgd when receipt is probable and enlf(lemenl is e8tgblished. income from donated goods is meosured at the fair value ol tho goods unless this is irnpractical to measure reliably, in which case the value is derived from the cost lo the donor or the estimated regale value. Donated facilities and services are re¢ogni5ed in the accounts when received if the value can be reliably measured. No amounts aro included for the contribution of general volunteers. income from contracts for the supply of services is reeognised wf(h the delivery of the contracted service. This is classified as unrestricted funds unless there is a conlraclual requirement for il lo be spent on a particular purpose and returned rf unspent, in which case il may be regarded as reslrided. Resources expend•d Expendbture is accounted for on an eccruals basis and has beèn classified under he8dings that aggregate all Cost related to the category. Where c03ts cannot be directly allributed to particular headings they have been allocated to actVitIeS on a basis consislenl with the use of resour¢¢s. Page 6 continued...
STAFFORDSHIRE REELS ON WHEELS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2020 ACCOUNTING POLICIES - continued Impairment of flxed assets A review for indicators of imp3imienl is carried out al each reporting dale. with the recoverable amount being eslimaled where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaimenls are also reviewed for possible reversal at exh reporting date. For the purposes of impaimient testing, when f( is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unil to which the asset belongs. The cash-generaling unf( is the smallest identifiable group of 8ssets that includes the asset and generates cash inflows that largely independent of the cash inftows from other assets or groups of assets. Tangible fixed assets Depreciation is provided at the following annual rates in order lo write olf each asset over 11$ estimated useful life. Offtce equipment Motor vehicles Cinematic equipment 10¥0 reducing balance 25DA reducing balance 10.kn reducing balance Tangible assets are initially recorded at cost, and subsequently stated al cost less any accumulated depreciation and impaimienl losses. Any tangible assets carried al revalued amounts are recorded al the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimienl10sses. An increase in the carrying amount of an asset as a resutt of a revaluation, is recognised in other recognised gains and losses, unless il reverses a charge for Impairment that has previously been recognised as expenditure within the slalement of financial aclivrties. A decrease in the carrying 8rn0unt of an asset a5 a re5uII of revaluation, is recognised in other recognised gains and losses, except to which il offsets any previous revaluation gain, in which case thè loss is shown within other recognised gains and losses on the stslement of financial activities. Taxation The charity is exempt from tsx on ils Char¢(ab aclivilies. Fund accountlng Unre5tricled funds can be used in acwrdance with the charitable objectwes al the discretion of the trustees. Reslricled funds can only be used for particular restricted purposes within the objects of the charty. Restrictions arise when specrfied by the donor or when tunds are raised for particular restricted purposes. Furthef explanation of the nature and purpose of each fund is included in the notes lo the financial statements. Golng concern Due lo the effects and Impl¥110n$ of Covid 19, the charty suspended trading in March 2020 and began operations again in October 2021. Due lo the continuing srtuation il is unclear at present what future trading will look like. However, the charity owes £42,022 to a credrtor. Mr R Johnson, who has confirmed that he will not request payMent of this loan until such lime that the charity is in a posili¢n to fully repay. As such, the Iruslees consider the charity to be a going concern. Page 7 ntinued...
STAFFORDSHIRE REELS ON WHEELS NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 DECEMBER 2020 VOLUNTARY INCOME 31.12.20 Unreslricled funds 31.12.19 Total funds Ticket sales 29,408 80,114 INVESTMENT INCOME 31.12.20 Unrestricted funds 31.12.19 Total funds Bank interest receivable 66 128 RAISING FUNDS Ralslng voluntary income 31.12.20 Unreslricled funds 31.12.19 Total funds Support costs 46,382 54,151 Fundralslng trading.. cost$ of goods sold and other costs 31.12.20 unreStrted funds 31.12.19 Totsl funds Film hire and rental 17,105 27.875 Aggregate amounts 63,487 SUPPORT COSTS Management Raising voluntary income 46.382 Page 8 continued...
STAFFORDSHIRE REELS ON WHEELS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020 SUPPORT COSTS - contlnued Support costs, included in the above, are as foll¢)WS.' Managemont 31.12.20 Raising Voluntary income 31.12.19 Total activities Wages Pensions Hire of halls Other operating lease8 Insuranco Telophone Qlher offrce costs Advertising Accountancy Molorltravel costs Subscriptions and licenc88 Repairs and renew81$ Light and heal Light and heat earlier years undor provision Depreciation of langiblg and heritage assets PAYE inloresl 28,900 33,462 925 240 1,470 2,898 S54 273 162 2,776 5.718 97 80 1,500 2,971 239 542 3,128 3,804 97 315 750 1,023 3,189 3,683 46,382 54.151 TRUSTEES. REMUNERATION AND BENEFITS There were no Iruslees, remuneration or other benefits for the year ended 31 Decemter 2020 nor for the year ended 31 Oecember 2019. Trustees, expon8 There were no lru8le•s' expen$o3 paid for the year ended 31 December 2020 nor for the yoar ended 31 December 2019. Page 9 continued...
STAFFORDSHIRE REELS ON WHEELS NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2020 STAFF COSTS 31.12.20 31.12.19 Wages and salaries Other pension costs 28,9CQ 867 33,462 925 34.387 The average monthly number of employees during the year was as follows.. 31.12.20 31.12.19 Employ888 No employees recewed emoluments in exces¥ of £60,000. TANGIBLE FIXED ASSETS Office equipment Motor vehicles Cinematic equipment Tota18 COST Al 1 January 2020 and 31 December 2020 111678 DEPRECIATION At 1 January 2020 Charge for year 2,131 72 21,310 625 60,098 2492 83,539 Al 31 December 2020 62 590 NET BOOK VALUE At 31 December 2020 652 1,874 22.424 24,950 Al 31 December 2019 724 24,916 DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.12.20 31.12.19 Trade debtor8 Other debtors Prepayments and accrued income 20,732 2.267 23,545 24 864 25,307 Page 10 ntinued...
STAFFORDSHIRE REELS ON WHEELS NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2020 10. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.12.20 31.12.19 Trade creditors Taxation and social security other cred((ors 4,776 570 6,720 2,274 46.660 49,487 55,654 11. MOVEMENT IN FUNDS Nel movement in funds Al 31.12.20 At1.1.20 Unrestrlcted funds General fund 28,168 13,6491 24.519 TOTAL FUNDS 28,168 3,6491 24,519 Net movement in fLtnds, included in the above are as foll¢)ws.' Incoming resources Resources expended Movement in funds Unrestricted funds General fund 59.838 163,4871 13,6491 TOTAL FUNDS 59,838 63,48n Comparatives for movement In lunds Nel movernent in funds Al 31.12.19 A11.1.19 UnrestrKted funds General fund 29,952 11,7841 28,168 TOTAL FUNDS 29,952 1,7841 28,168 Page 11 continued...
STAFFORDSHIRE REELS ON WHEELS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2020 MOVEMENT IN FUNDS - continued Comparative nel mov8menl in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrl¢ted funds General fund 80,242 {82,0261 11,7841 TOTAL FUNDS 82,0261 A current year 12 month8 and prior year 12 months combined posbtion is as follow8., Net movement in funds At 31.12.20 At1.1.19 Unr•8trlctgd lund8 Gener81 fund 29,952 15,4331 24,519 TOTAL FUNDS A current year 12 month8 and prior year 12 months combined nel movement in funds, included in the above are as lollow8', Incoming resources Resources expended Movement in funds Unrostrlctod funds Genèral fund 140.080 1145.5131 15,4331 TOTAL FUNDS 140 080 1145 5131 12. RELATED PARTY DISCLOSURES Thefe were no related party transxlions for the year ended 31 December 2020. Page 12
STAFFORDSHIRE REELS ON WHEELS OETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 31.12.20 31.12.19 INCOMING RESOURCES FROM Voluntary Income Ticket sales 29.406 80,114 Investment Incomg Bank interest receivable 66 128 Other Incom Grants RKeived 30,366 Total Incomlng r•sources 59,838 80,242 EXPENDITURE Fundralslng tr8dlng: costs of goods sold and othor costs Film hire and rental 17.105 27,875 Support costg Management W8ggs Pensions Hire of hall8 Other Operating leases Insurance Telephon Other office co818 Advertising Accountancy hlolorltravel costs Subscriptions and licences Repairs and renewa18 Light and heat Light and heat earfier years under provigion Depreciation of tangible and heritage assets PAYE intere81 28,900 867 80 1,500 2,971 239 542 33,482 925 240 1.470 2,898 554 273 162 2,776 5,718 3,128 3,804 97 315 750 1,023 3,189 3.683 54,151 Tot81 resources expended 63,487 82 026 Net oxp•ndlture 3,6491 1,7841 This page does not form part of the slalulory financial slalemenl8 Page 13