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2020-09-30-accounts

Company No: 02856983 Charity No: 1027444

STRICKLANDGATE HOUSE TRUST LIMITED

(A COMPANY LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

STRICKLANDGATE HOUSE TRUST LIMITED

CONTENTS

Reference and administrative information 1
Report of the trustees 2
Independent examiner's report to the trustees 5
Statement of financial activities 6
Balance sheet 7
Notes to the accounts 9
The following pages do not form part of the accounts:
Income and expenditure account 16
Schedules to the income and expenditure account 17

STRICKLANDGATE HOUSE TRUST LIMITED

REFERENCE AND ADMINISTRATIVE INFORMATION

(Company Number: 02856983) (Registered Charity Number: 1027444)

Trustees R M Cope Chairman J W Cooke Resigned 27/02/20 S M Emmott W Sayers J J Leigh M Belk N J Brown R J Downing G Vincent Secretary J N Gallagher Registered Office 92 Stricklandgate Kendal LA9 4PU Accountants MHA Moore and Smalley Chartered Accountants Kendal House Murley Moss Business Village Oxenholme Road Kendal LA9 7RL

Page 1

STRICKLANDGATE HOUSE TRUST LIMITED

REPORT OF THE TRUSTEES

The Trustees present their report and the financial statements of the charity for the year ended 30 September 2020

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities applicable in the UK and Republic of Ireland published in October 2019.

Trustees of the charity

The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows:

R M Cope Chairman J W Cooke Resigned 27/02/20 S M Emmott W Sayers J J Leigh M Belk N J Brown R J Downing G Vincent

Objectives and Activities

Objects of the Charity

The objectives of the charity are to promote and improve the efficiency and effectiveness of charities in direct pursuit of their objectives by the provision of premises and facilities for such charities. These charities provide public benefit to the local, and wider, community through a wide range of services and support including volunteering, charity start-ups, Carer Support, Mental Health awareness, support for young people with Dyslexia and their families a music charity and more.

Principal activity

The company is principally engaged in the provision of premises and facilities for charities.

Organisational structure

A Board of Trustees, of up to 8 trustees, who meet at least quarterly, administers the charity. Sub committees are in place to cover such issues as development and finance. A Centre Manager is appointed by the Trustees to manage the day to day operations of the charity.

Achievements and performance

Before the COVID-19 pandemic, Stricklandgate House continued with its success as a community building for tenant organisations and the success of attracting room hire (NHS First Step and independent counsellors as well as for meetings) led to this use. Then on March 20th, following government guidance, we locked down the building and overnight, room hire income was lost. The effects of COVID-19 also hit tenants hard with ViP Diaries and Royal Voluntary Service folding completely and other tenants planning to leave and/or downsizing their operations, many working from home. A bounce back loan was secured but like all loans has to be repaid (albeit at low interest rates). Many of the organisations that use our services, particularly counselling organisations, post COVID-19 are choosing to conduct sessions via Zoom/Skype or call clients rather than the clients coming in to see them at SGH.

Plans to sell the Coach House was again agreed between trustees and during the period the architects were instructed to start the planning application process and the tenants accommodated in that building moved into the main building.

Page 2

STRICKLANDGATE HOUSE TRUST LIMITED

REPORT OF THE TRUSTEES (continued)

Achievements and performance (continued)

We are drawing to a close on what I think we can all agree has been one of the most challenging of years. Stricklandgate House has had to close its doors for the first lockdown in March and when the rules were eased many of us remained shielding and have been dealing with anxieties relating to health as well as the impact on our mental well-being.

The board have had due regard to guidance published by the Charity Commission on Public benefit.

Plans for Future Periods

At Stricklandgate House, room hire has fallen to nothing and many tenants have found ways of working from home and some have found that they will need smaller room space or none going forward. Our very basis for existing has been challenged. We have been unable to obtain any other grants apart from the Coronavirus Job Retention Scheme during the pandemic within the reportable period. As things improve later in the year and SLDC grants have been obtained, we have put a balanced budget together till the end of September 2022.

Financial review

Reserves policy

It is the objective of the Trust to maintain reserves to meet future repairs to the building and to fund administration costs. Any surplus over this requirement is utilised towards capital improvements of the facilities. Free reserves at the year-end was £10,962 (2019: £24,947). Of this amount, £47,419 (2019: £22,089) represents long term loan liabilities which are not due for repayment until more than 12 months from the balance sheet date. After allowing for the above, short term free reserves amounts to £58,381 (2019: £47,036).

Investment Policy

The Trustees do not envisage the charity holding investments in the foreseeable future.

Fixed Assets

The principal items of capital expenditure are set out in note 8 to the financial statements.

Structure, Governance and Management

Constitution

Stricklandgate House Trust Limited is a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association dated 27 September 1993.

Recruitment and appointment of Trustees

The Trust maintains a cross section of experience from Trustees that covers general management, building services, property management, finance and legal activities. When a vacancy occurs for a Trustee role then the Trust utilises the experience, knowledge and networking skills of the Trustees to fill the vacancy. The Trustees are then given responsibilities for particular areas of activity as well as their overall Trustee roles.

Risk Management

The Trustees have identified the major risks to which the charity is exposed. These risks have been reviewed and potential for any changes to the present range of risks, especially those concerning Covid-19, and will adjust systems when and where required.

Page 3

STRICKLANDGATE HOUSE TRUST LIMITED

REPORT OF THE TRUSTEES (continued)

The Trustees (who are also directors of Stricklandgate House Trust Limited for the purposes of company law) are law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

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

R M Cope Chairman

Date: 01/03/2021

Page 4

REPORT TO THE TRUSTEES

OF

STRICKLANDGATE HOUSE TRUST LIMITED

I report to the charity trustees on my examination of the accounts of the company for the year ended 30 September 2020 which are set out on pages 6 to 15.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 as carried o followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 that in any material respect:

  1. accounting records were not kept in respect of the company 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 s part of an

independent examination; or

  1. 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.

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.

Ian Clark FCCA MHA Moore & Smalley Chartered Accountants Kendal House Murley Moss Business Village Oxenholme Road Kendal Cumbria LA9 7RL

Date 01/03/2021

Page 5

STRICKLANDGATE HOUSE TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

Note
Income and endowments from:
Grants and donations
3
Investment income
4
Letting income
2
Other income
5
Total income and endowments
Expenditure:
Charitable activities (excluding depreciation)
Total expenditure
6
Net income before other recognised
gains and losses
Depreciation
8
Net movement in funds/net
2
expenditure for the year
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
2020
2019
Funds
Funds
Total
Total
£
£
£
£
9,575
-
9,575
2,500
59
-
59
102
65,710
-
65,710
85,599
40,756
-
40,756
59,508
116,100
-
116,100
147,709
130,085
-
130,085
136,733
130,085
-
130,085
136,733
(13,985)
-
(13,985)
10,976
(11,890)
-
(11,890)
(12,328)
(25,875)
-
(25,875)
(1,352)
552,007
-
552,007
553,359
526,132
-
526,132
552,007

Page 6

STRICKLANDGATE HOUSE TRUST LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2020

Note
Fixed assets

Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand

Creditors: amounts falling due
within one year
10
Net current assets
Total assets less current liabilities
Creditors: amounts falling due
after more than one year
11
Net assets
Funds
Unrestricted
Restricted
Total charity funds
£
18,698
57,584
76,282

(17,901)



 2020

£
£
515,170
13,587
48,887
62,474
(15,438)
58,381
573,551
(47,419)

526,132

526,132
-

526,132
 2019
£
527,060
47,036
574,096
(22,089)
552,007
552,007
-
552,007

Page 7

STRICKLANDGATE HOUSE TRUST LIMITED

BALANCE SHEET (continued)

30 SEPTEMBER 2020

For the year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No member or members have requested an audit pursuant to section 476 of the act.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

01/03/2021 These accounts were approved by the directors and authorised for issue on and are signed on their behalf by:

R M Cope - Director

J Leigh - Director

Company Registration Number: 02856983

Charity Number: 1027444

Page 8

STRICKLANDGATE HOUSE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

1. Accounting Policies

Stricklandgate House Trust Limited is a company limited by guarantee in England and Wales.

Basis of preparation

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, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

Stricklandgate House Trust Limited meets the definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Income

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charitable company is legally entitled to the income, it is reasonably certain it will be received and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Expenditure

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

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

Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Page 9

STRICKLANDGATE HOUSE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

Going concern

We, the Trustees, agreed future projections and a balanced budget to take us through to 30 September 2022. Where we are able, we will take advantage of the Government support available as and when required, ensuring that we continue to operate within our available cash reserves and bank facilities through this period of uncertainty in order to enable us to pay our debts as they fall due. In view of this, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for a period of at least 12 months from the date the accounts are approved. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Long leasehold buildings 2%
Furniture & Equipment 25% / 15%
Computers 25%

Impairment Reviews

Impairment reviews are only carried out where there is some indication that the recoverable amount of a functional fixed asset is below its net book value. If the recoverable amount of the asset is lower than the net book value the loss is recognised and treated as additional depreciation. The revised carrying amount of the asset is then depreciated over its remaining useful economic life.

Accumulated Funds

Accumulated funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. Any overspends are met by unrestricted funds.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Pension

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the SOFA.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 10

STRICKLANDGATE HOUSE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

2. Net Movement in Funds

The net movement is attributable to the principal activities of the charity, and is earned entirely within the United Kingdom.

Deficit/Surplus is stated after charging


Depreciation
- For Accountancy Services
- For Other Services
And after Crediting:
Service Charges
3. Grants and donations
Legacy from the estate of Mrs K Wilson
Government grant - CJRS
4. Interest receivable and similar income
Bank interest		 2020
£
11,890
2,376
2,849
17,115
65,710
2020
£
-
9,575		 2019
£
12,328
2,628
2,174
17,130
85,599
2019
£
2,500
-
9,575 2,500
2020
£
59		 2019
£
102

Page 11

STRICKLANDGATE HOUSE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

5. Other income
Cleaning
Computer recharges
Room hire and catering
Car park rental
Telephone
Miscellaneous
6. Total resources expended

Direct Charitable Expenditure
Direct Charitable Expenditure
Other costs are made up as follows:
Premises costs
Travel
Repairs and renewals
Telephone
Internet
Printing, design, postage and stationery
Professional fees and accountancy
Catering supplies
Sundry expenses
Bank charges and interest		 2020
£
2019
£
4,206
7,479
3,111
4,025
23,529
38,500
6,464
5,484
3,233
3,939
213
81
40,756
59,508
Staff costs
Other
costs
2020
£
£
£
75,331
54,754
130,085
Staff costs
Other
costs
2019
£
£
£
68,210
68,523
136,733
2020
£
2019
£
27,131
28,133
435
422
11,598
22,042
4,075
4,921
3,323
4,803
449
493
5,983
4,802
-
364
846
1,282
914
1,261
54,754
68,523		 2020
£
2019
£
4,206
7,479
3,111
4,025
23,529
38,500
6,464
5,484
3,233
3,939
213
81
40,756
59,508
Staff costs
Other
costs
2020
£
£
£
75,331
54,754
130,085
Staff costs
Other
costs
2019
£
£
£
68,210
68,523
136,733
2020
£
2019
£
27,131
28,133
435
422
11,598
22,042
4,075
4,921
3,323
4,803
449
493
5,983
4,802
-
364
846
1,282
914
1,261
54,754
68,523
Staff costs
£
68,210
54,754
68,523

Of the £130,085 of expenditure (2019: £136,733), nil of this was restricted (2019: £nil) and £130,085 was unrestricted (2019: £136,733).

Page 12

STRICKLANDGATE HOUSE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

7. Directors and employees
Employee costs during the year:
Wages and salaries
Social security costs
Pension costs
The average number of employees during the year was as follows:
Directors
Full time
Part time		 2020
£
2019
£
Nil
Nil
71,085
66,126
3,131
614
1,115
1,470
75,331
68,210
8
8
1
1
7
8

There were no employees receiving more than £60,000 in the year (2019 - £nil).

In the year no expenses were reimbursed to the Trustees (2019 - £nil).

During the year, Winifred Sayers, a trustee, received remuneration for cleaning services of £6,069 (2019: £5,319).

8. Tangible fixed assets

Cost
At 1 October 2019
Additions
At 30 September 2020
Depreciation
At 1 October 2019
Charge for the year
At 30 September 2020
Net book value
At 30 September 2020
At 30 September 2019		 Long
Furniture
Leasehold Equipment
Property & computers
£
£
1,020,718
244,946
-
-
1,020,718
244,946
495,035
243,569
10,513
1,377
505,548 244,946
515,170
-
525,683
1,377		 Total
£
1,265,664
-
1,265,664
738,604
12,329
750,933
515,170
527,060

Page 13

STRICKLANDGATE HOUSE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

9. Debtors
Amounts falling due within one year
Trade debtors
Other debtors
Prepayments and accrued income
10. Creditors
Amounts falling due within one year
Bank overdraft and loan
Trade creditors
Other creditors
Accruals
11. Creditors
Amounts falling due after more than one year
Bank loan
Bounce back loan		 2020
£
2019
£
10,258
7,964
3,246
-
5,194
5,623
18,698
13,587
2020
2019
£
£
9,333
10,143
578
2,223
416
194
5,767
4,685
17,901
15,438
2020
2019
£
£
12,338
22,089
35,081
-
47,419
22,089

The bank loan is secured by a legal charge over the assets of Stricklandgate House Trust Limited. The bank loan is due to be repaid by 2022.

The net amount of secured liabilities at 30 September 2020 amounted to £56,752 (2019 - £32,232).

Page 14

STRICKLANDGATE HOUSE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

12. Analysis of net assets between funds

----- Start of picture text -----
Unrestricted Restricted Total
£ £ £
Fund balances at 30 September 2020 are represented by:
Tangible assets 515,170 - 515,170
Current assets 58,381 - 58,381
Creditors due after more than one year (47,419) (47,419)
-
526,132 526,132
----- End of picture text -----

----- Start of picture text -----
Unrestricted Restricted Total
£ £ £
Fund balances at 30 September 2019 are represented by:
-
Tangible assets 527,060 527,060
Current assets 47,036 - 47,036
Creditors due after more than one year (22,089) (22,089)
-
552,007 552,007
----- End of picture text -----

13. Related Party Transactions

There were no related party transactions during the year to 30 September 2020 or 30 September 2019.

14. Capital commitments

There were no capital commitments at 30 September 2020 or 30 September 2019.

15. Contingent liabilities

There were no contingent liabilities at 30 September 2020 or 30 September 2019.

16. Company status

The charitable company is limited by Guarantee under the Companies Act 2006. The liability of the members is limited to £1 per member in the event of a winding up.

17. Taxation

As a charity, Stricklandgate House Trust Limited is exempt from tax on income and gains falling within sections 472-474 of the Corporation Tax Act 2010, sections 478 - 489 of the Corporation Tax Act 2010, or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

Page 15