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2021-03-31-accounts

Charity registration number: 1012242

Colne Valley Youth and Community Association

Annual Report and Financial Statements

for the Year Ended 31 March 2021

Colne Valley Youth and Community Association

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 6
Statement of Trustees' Responsibilities 7
Independent Auditors' Report 8 to 11
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Financial Statements 15 to 26

Colne Valley Youth and Community Association

Reference and Administrative Details

Trustees Bernie Banks Eamonn Doherty Neil Crowther Karen Smaggasgale Jenny Vickers Henry Higgins David Gilbert Charity Registration Number 1012242 Principal Office Dews Lane Harefield Middlesex UB9 6JN Auditor Sterling Grove Accountants Limited Chartered Certified Accountants and Registered Auditors Thames House Bourne End Business Park Cores End road Bourne End Buckinghamshire SL8 5AS Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Page 1

Colne Valley Youth and Community Association

Trustees' Report

The trustees present the annual report together with the financial statements and auditors' report of the charity for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities:Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Bernie Banks Eamonn Doherty Neil Crowther Karen Smaggasgale Jenny Vickers Henry Higgins David Gilbert

Objectives and activities

Objects and aims

Colone Valley Youth & Community Association, known as Hillingdon Outdoor Activities Centre ('HOAC') is a registered Youth Educational Charity providing outdoor and environmental education for the whole community but with priority given to young people and those who are disadvantaged or disabled. Outdoor education includes a wide range of water and land activities. Included are sailing, canoeing, windsurfing, rafting, dragon boating, bell boating, rowing, team building and leadership challenges, archery, caving, climbing, high and low ropes.

Objectives, strategies and activities

We run a disabled watersports club for both adults and children, running weekly during the summer season and there are regular disabled groups using the Centre as part of our group bookings. The site is currently closed due to the HS2 railway activities and we are at present awaiting relocation.

HOAC does not make grants.

HOAC does not have investments, although interest is earned on bank accounts, which is used to better the charity’s aims.

Public benefit

From March 2020 the centre was closed due to the national covid 19 pandemic. Once restrictions eased in June we reopened and offered enhanced opportunities to the local community. School courses were also provided during September. In total there were approximately 5,000 visits to HOAC from adults and young people during 2020-21. The site closed to the public in October 2020 due to HS2 railway activities.

Page 2

Colne Valley Youth and Community Association

Trustees' Report

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Use of volunteers

These were restricted due to the covid 19 pandemic.

Achievements and performance

Due to the covid 19 pandemic schools access was limited to 1,110 young people during September. The reduced young leader graduate courses produced 5 new sailing instructors. These will go on to provide the volunteers, leaders and instructors of the future. 650 certificated course spaces were filled during the summer holidays with a further 40 outside of the holidays. Our courses, members and schools made approximately 5,000 visits during the year.

Financial review

Overall income for 2020-2021 was £436,548 reduced from 2019-2020 which was £691,651. We received a grant of £54,500 from LBH

Total expenditure for 2020-2021 was £509,045 reduced from 2019-2020 which was £659,343.

Capital expenditure for 2020-2021 was £30,802 . It had previously been decided by the trustees that there would be no renewal of unnecessary immoveable capital assets until after the move to the new site.

It should be appreciated that operations were very much curtailed during the 2020-2021 financial year due to Covid 19 pandemic restrictions and the HS2 railway activities.

Policy on reserves

Substantial cash reserves have been built up over the last few years and are being held to allow for investment in the new site (exact location and extent to be determined) and to cover any shortfall of operational income at this new site for the first two or three years. HS2 now has full government approval resulting in HOAC being unable to remain at its present location. The site has now been closed.

Plans for future periods

Aims and key objectives for future periods

The High Speed Rail project HS2 is due to run through the middle of HOAC’s buildings with a viaduct over the lake. The old site is now closed and we are awaiting relocation.

Page 3

Colne Valley Youth and Community Association

Trustees' Report

Structure, governance and management

Recruitment and appointment of trustees

In the first instance, the need for a new Trustee is identified by the current Trustees in consultation with the Principal. This is normally in response to someone wishing to resign, moving out of the area etc. Sometimes it may be that someone with particular qualities that are identified as needed will be actively recruited as long as the number of Trustees stays within the proscribed limit.

Normally at this stage there are one or two people who have expressed interest in being Trustees and their suitability is discussed and a candidate agreed.

The chair of Trustees will then approach the candidate, and if they are agreeable, their name is given to the Trustee solicitor for a Deed of variation to be raised. Checks are then made on their background (bankruptcy, criminal convictions etc.)

Induction and training of trustees

The Principal introduces the new Trustee to the Centre, its structure and the way it is managed.

The Chair of Trustees ensures that the new Trustee has relevant documents detailing HOAC management procedures. The new Trustee is introduced at the next suitable Trustee meeting but does not become a Trustee until the results of the checks are in and the legal processes have been completed.

Induction takes the form of a meeting with the treasurer and chairman who explain responsibilities and how HOAC works. A Staff Resource Manual containing Health & Safety and all other relevant policies is provided.

Organisational structure

The Charity’s organisational structure is laid out in the Trust Deed and the annual report. There are seven trustees. In addition, five General Committee members are elected at an AGM from friends of HOAC. There are 6 full-time members of staff along with a number of seasonal and part-time staff employed during the season.

The Trustees and Principal meet regularly to make financial and strategic policy decisions. The General Committee meet to discuss mainly matters associated with members and users. The Principal makes all operational decisions based on the agreed strategies.

Page 4

Colne Valley Youth and Community Association

Trustees' Report

Major risks and management of those risks

Financial insolvency

Policies and strategies to retain agreed strategic reserves, regular meetings to review finances/ balances, monthly income and expenditure figures provided to the Trustees, appointment of a Trustee treasurer and Principal who monitor Centre performance, expenditure and trends, audited accounts.

Business Failure: possible causes: closure due to foot and mouth disease/ blue green algae, very serious accident. Management: maintaining sufficient financial reserves to carry the Centre over; not running overdrafts or debts, suitable safe operating procedures, qualified staff, suitable insurance cover.

HOAC is licensed/inspected by the AALA, RYA and British Rowing.

All activities are risk assessed according to national criteria where appropriate (RYA/AALA). The risks are managed according to laid down criteria from National governing bodies or as accredited by HOAC. Appropriately qualified staff are used for all activities. HOAC has public liability and third party insurance cover for 10 million pounds.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk.

Cash flow risk

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

Details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 25 November 2021 and signed on its behalf by:

Page 5

Colne Valley Youth and Community Association

Trustees' Report

......................................... Karen Smaggasgale Trustee

Page 6

Colne Valley Youth and Community Association

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 25 November 2021 and signed on its behalf by:

......................................... Karen Smaggasgale Trustee

Page 7

Colne Valley Youth and Community Association

Independent Auditor's Report to the Members of Colne Valley Youth and Community Association

Opinion

We have audited the financial statements of Colne Valley Youth and Community Association (the 'charity') for the year ended 31 March 2021, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 8

Colne Valley Youth and Community Association

Independent Auditor's Report to the Members of Colne Valley Youth and Community Association

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 7), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Page 9

Colne Valley Youth and Community Association

Independent Auditor's Report to the Members of Colne Valley Youth and Community Association

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Page 10

Colne Valley Youth and Community Association

Independent Auditor's Report to the Members of Colne Valley Youth and Community Association

Use of our report

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... Mr Gianni Pietro Amasanti FCCA (Senior Statutory Auditor) For and on behalf of Sterling Grove Accountants Limited, Statutory Auditor

Thames House Bourne End Business Park Cores End road Bourne End Buckinghamshire SL8 5AS

20 December 2021

Page 11

Colne Valley Youth and Community Association

Statement of Financial Activities for the Year Ended 31 March 2021

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
4
Other income
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net (expenditure)/income
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19
Income and Endowments from:
Donations and legacies
Charitable activities
Investment income
Other income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
£
212,571
196,374
1,121
2,072
412,138
(509,045)
(509,045)
(96,907)
24,170
(72,737)
968,324
895,587
Note
2
3
4
5
6
19		 Restricted
£
24,410
-
-
-
24,410
-
-
24,410
(24,170)
240
-
240
Unrestricted
£
54,500
616,040
6,697
14,414
691,651
(659,343)
(659,343)
32,308
936,016
968,324		 Total
2021
£
236,981
196,374
1,121
2,072
436,548
(509,045)
(509,045)
(72,497)
-
(72,497)
968,324
895,827
Total
2020
£
54,500
616,040
6,697
14,414
691,651
(659,343)
(659,343)
32,308
936,016
968,324

All of the charity's activities derive from continuing operations during the above two financial years.

The notes on pages 15 to 26 form an integral part of these financial statements. Page 12

Colne Valley Youth and Community Association

(Registration number: 1012242) Balance Sheet as at 31 March 2021

Note
Fixed assets
Tangible assets
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
16
Creditors: Amounts falling due within one year
17
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
19		 2021
£
119,081
35
67,906
735,161
803,102
(26,356)
776,746
895,827
240
895,587
895,827		 2020
£
143,918
2,123
11,819
859,785
873,727
(49,321)
824,406
968,324
-
968,324
968,324

The financial statements on pages 12 to 26 were approved by the trustees, and authorised for issue on 25 November 2021 and signed on their behalf by:

......................................... Karen Smaggasgale Trustee

The notes on pages 15 to 26 form an integral part of these financial statements. Page 13

Colne Valley Youth and Community Association

Cash Flow Statement for the Year Ended 31 March 2021

Note
Cash flows from operating activities
Net cash (expenditure)/income
Adjustments to cash flows from non-cash items
Depreciation
Investment income
4
Working capital adjustments
Decrease in stocks
14
(Increase)/decrease in debtors
15
Decrease in creditors
17
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
4
Purchase of tangible fixed assets
13
Net cash flows from investing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March		 2021
£
(72,497)
55,639
(1,121)
(17,979)
2,088
(56,087)
(22,965)
(94,943)
1,121
(30,802)
(29,681)
(124,624)
859,785
735,161		 2020
£
32,308
66,250
(6,697)
91,861
-
3,387
(16,490)
78,758
6,697
(47,328)
(40,631)
38,127
821,658
859,785

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

The notes on pages 15 to 26 form an integral part of these financial statements. Page 14

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

1 Accounting policies

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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn

Basis of preparation

Colne Valley Youth and Community Association meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received.

Investment income

Interest is recognised on an accruals basis and included in the period in which it relates to.

Page 15

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

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.

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.

Governance costs

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

Government and local authority

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

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 £250.00 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
Dinghies 6 years straight line basis
Canoes, Engines, Office equipment 4 years straight line basis
Windsurfers, Private Protection Equipment 3 years straight line basis
Other craft Up to 7 years straight line basis
Pontoons & slipways 15 years straight line basis

Page 16

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

Land-based equipment & Karting

Up to 8 years straight line basis

Leasehold improvements, Climbing wall and caving system & Other Up to 5 years straight line Website

2 years straight line basis

Depreciation of non-moveable capital items have been written down to a net value of zero by the end of March 2019.

Stock

This is for the goods for the vending machines held at the year end.

It is valued at the lower of cost and net realisable value.

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 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.

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.

Fund structure

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

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 pension scheme which is a pension under which a fixed contributions are paid into a pension fund.

Contributions to defined contribution plans are recognised in the SOFA when they are due.

Page 17

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

2 Income from donations and legacies

Unrestricted
funds
General
£
Grants, including capital grants;
Local borough grants
54,500
Government grants
158,071
Other grants
-
212,571
3
Income from charitable activities
Membership
Day members & hiring
Courses & training
Holiday
Group activity
Other
Membership
Day members & hiring
Courses & training
Holiday
Group Activity
Other
Total for 2021
Total for 2020		 Restricted
funds
£
-
-
24,410
24,410
Unrestricted
funds
General
£
17,763
16,131
10,660
76,813
30,914
44,093
196,374		 Total
2021
£
54,500
158,071
24,410
236,981
Total
2021
£
17,763
16,131
10,660
76,813
30,914
44,093
196,374
Unrestricted
funds
General
£
17,763
16,131
10,660
76,813
30,914
44,093
196,374
616,040		 Total
2020
£
54,500
-
-
54,500
Total
2020
£
28,178
17,069
47,021
206,469
315,105
2,198
616,040
Total
funds
£
17,763
16,131
10,660
76,813
30,914
44,093
196,374
616,040

Page 18

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

4 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
5
Other income
Equipment sales
Vending machine income		 Unrestricted
funds
General
£
1,121
Unrestricted
funds
General
£
1,960
112
2,072		 Total
2021
£
1,121
Total
2021
£
1,960
112
2,072		 Total
2020
£
6,697
Total
2020
£
3,893
10,521
14,414

Page 19

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

6 Expenditure on charitable activities

Note
Establishment costs
Repairs and maintenance
Office expenses
Printing, postage and stationary
Subscription and donations
Equipment hire
Sundry and other costs
Advertising and other promotions
Vending costs
Depreciation, amortisation and other
similar costs
Staff costs
Governance costs		 Unrestricted
funds
General
£
10,372
9,700
13,875
942
4,547
2,461
1,683
866
2,136
55,639
397,153
9,671
509,045		 Total
2021
£
10,372
9,700
13,875
942
4,547
2,461
1,683
866
2,136
55,639
397,153
9,671
509,045		 Total
2020
£
21,691
33,947
13,615
1,892
18,939
1,112
12,775
8,395
8,008
66,250
459,696
13,023
659,343

7 Analysis of governance and support costs

Governance costs

Audit fees
Audit of the financial statements
Legal fees
Other governance costs
Total for 2021
Total for 2020		 Unrestricted
funds
General
£
6,420
1,080
2,171
9,671
13,023		 Total
funds
£
6,420
1,080
2,171
9,671
13,023

Page 20

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

8 Net incoming/outgoing resources

Net (outgoing)/incoming resources for the year include:

Audit fees
Depreciation of fixed assets		 2021
£
6,420
55,639		 2020
£
7,877
66,250

9 Trustees remuneration and expenses

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

Eamonn Doherty

£Nil (2020: £29) of expenses were reimbursed to Eamonn Doherty during the year.

The expenses reimbursed were for mileage.

At the balance sheet date the amount due Eamonn Doherty was £Nil (2020: £Nil).

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

All trustees received complimentary membership of the Centre during the year.

10 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Pension costs		 2021
£
388,195
8,958
397,153		 2020
£
450,947
8,749
459,696

The monthly average number of persons (including senior management team) employed by the charity during the year :

Charitable activities- Full time Employees
Charitable activities- Part time Employees
Charitable activities- Volunteers		 2021
No
6
21
7
34		 2020
No
7
48
13
68

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

Page 21

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

2021 2020
No No
Charitable activities- Employees 7 20
Charitable activities- Volunteers - 4
24 24
10 (2020 - 7) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £8,958 (2020 - £8,749).
No employee received emoluments of more than £60,000 during the year
11 Auditors' remuneration
Audit of the financial statements		 2021
£
6,420		 2020
£
7,877

Page 22

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

13 Tangible fixed assets

Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
Eliminated on disposals
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020
14 Stock
Stocks
15 Debtors
Trade debtors
Prepayments
Other debtors		 Furniture and
equipment
£
1,519,033
30,802
(702)
1,549,133
1,375,115
55,639
(702)
1,430,052
119,081
143,918
2021
£
35
2021
£
-
23,489
44,417
67,906		 Furniture and
equipment
£
1,519,033
30,802
(702)
1,549,133
1,375,115
55,639
(702)
1,430,052
119,081
143,918
2021
£
35
2021
£
-
23,489
44,417
67,906		 Total
£
1,519,033
30,802
(702)
1,549,133
1,375,115
55,639
(702)
1,430,052
119,081
143,918
2020
£
2,123
1,430,052
119,081
143,918
2021
£
35
2021
£
-
23,489
44,417
67,906
2020
£
4,624
6,034
1,161
11,819

Page 23

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

16 Cash and cash equivalents

16 Cash and cash equivalents
Cash on hand
Cash at bank
Short-term deposits		 2021
£
-
26,466
708,695
735,161		 2020
£
734
27,206
831,845
859,785

17 Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income
Deferred income at 1 April 2020
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 2021
£
-
4,162
774
13,579
7,841
26,356
2021
£
29,288
7,841
(29,288)
7,841		 2020
£
258
5,951
1,529
12,295
29,288
49,321
2020
£
46,999
29,288
(46,999)
29,288

18 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £8,958 (2020 - £8,749).

Page 24

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

19 Funds

Unrestricted
General
Restricted
Total funds
Unrestricted
General		 Balance at 1
April 2020
£
Incoming
resources
£
Resources
expended
£
Transfers
£
Balance at
31 March
2021
£
968,324
412,138
(509,045)
24,170
895,587
-
24,410
-
(24,170)
240
968,324
436,548
(509,045)
-
895,827
Balance at 1
April 2019
£
Incoming
resources
£
Resources
expended
£
Balance at 31
March 2020
£
936,016
691,651
(659,343)
968,324		 Balance at
31 March
2021
£
895,587
240
895,827

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

RYA Discover Sailing Grant- This is restricted for disabled sailing, when HOAC shut RYA said they could keep the money for 2022.

Align grant- This was receive to fund the purchase of the steel containers required to keep the centres equipment whilst the site is relocated.

The transfer relates to restricted grants which were given to the centre to purchase steel containers. The containers were purchased in the year and included with fixed assets, the containers are held for general use.

20 Analysis of net funds

Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt		 At 1 April
2020
£
859,785
859,785
At 1 April
2019
£
821,658
821,658		 Financing cash
flows
£
(124,624)
(124,624)
Financing cash
flows
£
38,127
38,127		 At 31 March
2021
£
735,161
735,161
At 31 March
2020
£
859,785
859,785

Page 25

Colne Valley Youth and Community Association

Notes to the Financial Statements for the Year Ended 31 March 2021

21 Analysis of net assets between funds

21 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
General
2021
£
119,081
802,862
(26,356)
895,587		 Restricted
£
-
240
-
240
Unrestricted
General
2020
£
143,918
873,727
(49,321)
968,324		 Total funds
2021
£
119,081
803,102
(26,356)
895,827
Total funds
2020
£
143,918
873,727
(49,321)
968,324

Page 26