2021-12-31-accounts - Staffordshire Reels On Wheels

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REGISTERED CHARITY NUMBER: 1011576

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

STAFFORDSHIRE REELS ON WHEELS

STAFFORDSHIRE REELS ON WHEELS

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

	Page
Report of the Trustees	1 to	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Financial Statements	6 to	12
Detailed Statement of Financial Activities	13

STAFFORDSHIRE REELS ON WHEELS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

To advance the education of the public in the knowledge, understanding and appreciation of the Arts, particularly the art of film and allied visual techniques.

In furtherance of the foregoing object but no further or otherwise, the society shall have the power to promote the study and appreciation of films by means of lectures, discussions and exhibitions.

To provide, or to assist in the provision of, facilities for recreation for persons in the area of Staffordshire who have need of such facilities by reason of their age, disablement, infirmity or social and economic circumstances with the object of improving their conditions.

ACHIEVEMENT AND PERFORMANCE

The charity raised £3,988 (2020 - £29,472) from ticket sales and investment income and £18,983 (2020 - £30,366) from government grant income, and incurred charitable expenses of £44,809 (2020 - £63,487) creating a deficit of £33,035 (2020 - £3,649 deficit).

FINANCIAL REVIEW

The financial activity of the charity is set on pages 4 and 5. There is a deficit of free reserves available to cover administration costs of £8,516 (2020 - £24,519 surplus). The policy of the Trustees is to hold sufficient reserves to enable the trust to meet the expenses and liabilities. The Trustees are monitoring the charity's going concern status.

FUTURE PLANS

Due to the effects and implications of Covid 19, the charity suspended trading in March 2020 and began operations again in October 2021. Due to the continuing situation it is unclear at present what future trading will look like. However, the charity owes £42,022 to a creditor, Mr R Johnson, who has confirmed that he will not request repayment of this loan until such time that the charity is in a position to fully repay. As such, the trustees consider the charity to be a going concern.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is managed by the Films Organiser, Mr R S Johnson, under the direct control of the Trustees.

Trustees are appointed by the board of trustees and serve for five years after which they may put themselves forward for re-appointment. The trustees meet every six months to review all activities of the charity. Newly appointed trustees are given an overview of the Trust, a copy of the governing trust deed, and referred to the Charity Commission's guidance ''The Essential Trustee: What You Need to Know'', and links to the other relevant documentation on the internet.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1011576

Principal address

126 Brown Lees Road Biddulph Stoke-on-Trent ST8 6PW

Page 1

STAFFORDSHIRE REELS ON WHEELS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees A Cucyk M Shingler Independent Examiner Steven Owen DPC Accountants Ltd Stone House Stone Road Business Park Stoke-On-Trent ST4 6SR Bankers Santander UK PLC Brindle Road Bootle Merseyside L30 4GB Solicitors KJD Frreth Churchill House Regent Road Hanley Stoke on Trent ST1 3RQ 26/10/2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. A Cucyk - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAFFORDSHIRE REELS ON WHEELS

Independent examiner's report to the trustees of Staffordshire Reels On Wheels

I report to the charity trustees on my examination of the accounts of Staffordshire Reels On Wheels (the Trust) for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

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 Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 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 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.

Steven Owen DPC Accountants Ltd Stone House Stone Road Business Park Stoke-On-Trent ST4 6SR 27-10-2022 Date: .............................................

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STAFFORDSHIRE REELS ON WHEELS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

		31.12.21	31.12.20
		Unrestricted	Total
		funds	funds
	Notes	£	£
INCOMING RESOURCES FROM FROM
Voluntary income	2	3,985	29,406
Investment income	3	2	66
Other income		18,983	30,366
Total		22,970	59,838
EXPENDITURE ON
Raising funds	4	56,005	63,487
NET INCOME/(EXPENDITURE)		(33,035)	(3,649)
RECONCILIATION OF FUNDS
Total funds brought forward		24,519	28,168
TOTAL FUNDS CARRIED FORWARD		(8,516)	24,519

The notes form part of these financial statements

Page 4

STAFFORDSHIRE REELS ON WHEELS

BALANCE SHEET 31 DECEMBER 2021

		31.12.21	31.12.20
		Unrestricted	Total
		funds	funds
	Notes	£	£
FIXED ASSETS
Tangible assets	8	22,174	24,950
CURRENT ASSETS
Debtors	9	10,814	24,864
Cash at bank and in hand		14,412	24,192
		25,226	49,056
CREDITORS
Amounts falling due within one year	10	(55,916)	(49,487)
NET CURRENT ASSETS/(LIABILITIES)		(30,690)	(431)
TOTAL ASSETS LESS CURRENT
LIABILITIES		(8,516)	24,519
NET ASSETS/(LIABILITIES)		(8,516)	24,519
FUNDS	11
Unrestricted funds		(8,516)	24,519
TOTAL FUNDS		(8,516)	24,519

The financial statements were approved by the Board of Trustees and authorised for issue on 26/10/2022............................................. and were signed on its behalf by:

............................................. A Cucyk - Trustee

The notes form part of these financial statements

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STAFFORDSHIRE REELS ON WHEELS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets and liabilities measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Estimated useful lives and residual values of fixed assets

As described in the notes to the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity, and the amount can be reliably measured. The following specific policies are applied to particular categories of income;

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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STAFFORDSHIRE REELS ON WHEELS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES - continued

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Government grants

Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment	- 10% reducing balance
Motor vehicles	- 25% reducing balance
Cinematic equipment	- 10% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

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STAFFORDSHIRE REELS ON WHEELS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES - continued

Going concern

2. VOLUNTARY INCOME

2.	VOLUNTARY INCOME
		31.12.21	31.12.20
		Unrestricted	Total
		funds	funds
		£	£
	Ticket sales	3,985	29,406
3.	INVESTMENT INCOME
		31.12.21	31.12.20
		Unrestricted	Total
		funds	funds
		£	£
	Bank interest receivable	2	66
4.	RAISING FUNDS
	Raising donations and legacies
		31.12.21	31.12.20
		Unrestricted	Total
		funds	funds
		£	£
	Support costs	43,717	46,382
	Other trading activities
		31.12.21	31.12.20
		Unrestricted	Total
		funds	funds
		£	£
	Purchases	1,091	17,105
	Bad debts	11,197	-
		12,288	17,105
	Aggregate amounts	56,005	63,487

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STAFFORDSHIRE REELS ON WHEELS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

5. SUPPORT COSTS

Raising donations and legacies

Manageme £ 43,717

Support costs, included in the above, are as follows:

Management

Management
	31.12.21	31.12.20
	Raising
	donations
	and	Total
	legacies	activities
	£	£
Wages	28,898	28,900
Pensions	867	867
Hire of halls	-	80
Other operating leases	1,500	1,500
Insurance	3,076	2,971
Telephone	-	239
Other office costs	383	542
Accountancy	3,039	3,128
Motor/travel costs	2,252	3,804
Subscriptions and licences	63	97
Repairs and renewals	-	315
Light and heat	863	750
Depreciation of tangible and heritage
assets	2,776	3,189
	43,717	46,382

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

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STAFFORDSHIRE REELS ON WHEELS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

7.	STAFF COSTS
						31.12.21	31.12.20
						£	£
	Wages and salaries					28,898	28,900
	Other pension costs					867	867
						29,765	29,767
	The average monthly number of employees during the year was as				follows:
						31.12.21	31.12.20
	Employees					2	2
	No employees received emoluments in excess of £60,000.
8.	TANGIBLE FIXED ASSETS
		Office		Motor		Cinematic
		equipment		vehicles		equipment	Totals
		£		£		£	£
	COST
	At 1 January 2021 and
	31 December 2021	2,855		23,809		85,014	111,678
	DEPRECIATION
	At 1 January 2021	2,203		21,935		62,590	86,728
	Charge for year		65		469	2,242	2,776
	At 31 December 2021	2,268		22,404		64,832	89,504
	NET BOOK VALUE
	At 31 December 2021		587	1,405		20,182	22,174
	At 31 December 2020		652	1,874		22,424	24,950
9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
						31.12.21	31.12.20
						£	£
	Trade debtors					9,141	20,732
	Other debtors					-	2,267
	Prepayments and accrued income					1,673	1,865
						10,814	24,864

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STAFFORDSHIRE REELS ON WHEELS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

			31.12.21	31.12.20
			£	£
	Trade creditors		7,599	4,776
	Taxation and social security		1,959	570
	Other creditors		46,358	44,141
			55,916	49,487
11.	MOVEMENT IN FUNDS
			Net
			movement	At
		At 1.1.21	in funds	31.12.21
		£	£	£
	Unrestricted funds
	General fund	24,519	(33,035)	(8,516)
	TOTAL FUNDS	24,519	(33,035)	(8,516)
	Net movement in funds, included in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
	Unrestricted funds
	General fund	22,970	(56,005)	(33,035)
	TOTAL FUNDS	22,970	(56,005)	(33,035)
	Comparatives for movement in funds
			Net
			movement	At
		At 1.1.20	in funds	31.12.20
		£	£	£
	Unrestricted funds
	General fund	28,168	(3,649)	24,519
	TOTAL FUNDS	28,168	(3,649)	24,519

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STAFFORDSHIRE REELS ON WHEELS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

11. MOVEMENT IN FUNDS - continued

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	59,838	(63,487)	(3,649)
TOTAL FUNDS	59,838	(63,487)	(3,649)

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

		Net
		movement	At
	At 1.1.20	in funds	31.12.21
	£	£	£
Unrestricted funds
General fund	28,168	(36,684)	(8,516)
TOTAL FUNDS	28,168	(36,684)	(8,516)

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	82,808	(119,492)	(36,684)
TOTAL FUNDS	82,808	(119,492)	(36,684)

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

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STAFFORDSHIRE REELS ON WHEELS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

	31.12.21	31.12.20
	£	£
INCOMING RESOURCES FROM
Voluntary income
Ticket sales	3,985	29,406
Investment income
Bank interest receivable	2	66
Other income
Grants Received	18,983	30,366
Total incoming resources	22,970	59,838
EXPENDITURE
Other trading activities
Film hire and rental	1,091	17,105
Bad debts	11,197	-
	12,288	17,105
Support costs
Management
Wages	28,898	28,900
Pensions	867	867
Hire of halls	-	80
Other operating leases	1,500	1,500
Insurance	3,076	2,971
Telephone	-	239
Other office costs	383	542
Accountancy	3,039	3,128
Motor/travel costs	2,252	3,804
Subscriptions and licences	63	97
Repairs and renewals	-	315
Light and heat	863	750
Depreciation of tangible and heritage
assets	2,776	3,189
	43,717	46,382
Total resources expended	56,005	63,487
Net expenditure	(33,035)	(3,649)

This page does not form part of the statutory financial statements

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