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2022-03-31-accounts

Registered Company Number: 02859615 Registered Charity Number: 1027645

THE LEASIDE TRUST

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

THE LEASIDE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

no
Trustees’ Report 3 – 7
Independent Examiner’s Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 – 20

2

THE LEASIDE TRUST

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OUR PURPOSE AND ACTIVITIES

Leaside is an outdoor activities centre on the River Lea in Hackney.

Our mission is to serve our local community, especially its young people, by providing opportunities for education, personal development, recreation and excellence in outdoor activities. We give young people choices, freedom and inspiration so that they can become active, responsible adults, whether as citizens in the community or as participants, instructors or champions at Leaside.

Our Aims are:

Leaside is a young person driven centre. Our ethos and all our ideas and projects are firmly rooted in the realities, dreams and aspirations of young people. We harness the enthusiasm, commitment, spirit and energy of young people and reflect this back by providing a variety of programmes using an outdoor education framework. A main focus is the development of life skills and other transferable skills that enhance the life chances of the young person and community beyond sport. These include self esteem, self awareness, self-confidence and leadership skills.

Canoeing, Kayaking, Stand Up Paddle boarding and Mountain Biking are the main activities we deliver within our local environment. We use these activities as a tool to engage with young people to enhance personal and social development within formal and informal educational settings. Our programme of work sees us engage with Schools, Youth and Community Groups, and through individual and group work with the young people who have joined Leaside as part of our youth provision.

Public benefit statement

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the charity’s activities.

Our volunteers

Our activities can only happen with the support of a range of able volunteers, committed to the ethos of Leaside. We offer these volunteers training to enhance the provision that Leaside delivers to its young people. This volunteering consists of support for general activities, special needs groups, off-site trips, mentoring of young people and general upkeep and maintenance of the centre. These volunteers have contributed hundreds of hours of support for which we are extremely grateful. Volunteers are supported with professional development relevant to the activities provided at Leaside.

3

THE LEASIDE TRUST

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

ACHIEVEMENTS AND PERFORMANCE

The summer was fully subscribed due to a huge demand from the community following the lockdown situation with Covid. This enabled us to bring in another experienced member of staff to broaden our range of activities to serve the local community.

Leaside to advantage of the government’s DWP Kick Start employment scheme to take on three 6-month work placements – 2 trainee outdoor activity coaches and 1 admin/social media support person. They were supported with excellent training and we are pleased to say that they are now fully qualified and work at Leaside and other centres in London, utilizing their newly found vocation.

FINANCIAL REVIEW

The Statement of Financial Activities showed a net surplus for the year of £35,390 (2021 - £51,589) and total reserves stand at £746,170 (2021 - £710,780). The financial position at the end of the year revealed by the Balance Sheet, shows net current assets or working capital of £85,206 (2021 - £151,296). The net book value of fixed assets held including land and buildings, all of which are used directly for charitable purposes, amounted to £674,867 (2021 - £597,059).

4

THE LEASIDE TRUST

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

Principal funding sources

Leaside Principal funding source in this period were:

Reserves policy

The trustees consider it prudent to maintain an adequate level of unrestricted reserves to cover the community centre’s contractual commitments and provide sufficient working capital and have set this at minimum of three months operational costs.

Due to the efforts of the CEO Leaside is now able to meet this reserve policy.

As at the year-end the financial statements showed reserves of £746,170 (2021 - £710,780), of which £439,319 (2021 - £467,220) was restricted funds and £306,851 (2021 - £243,560) was unrestricted funds. The unrestricted funds not designated or invested in tangible fixed assets held by the charity are of £71,303 (2021 - £113,721).

FUTURE PLANS AND DEVELOPMENTS

Over the next year, the trustees aim to deal with the following:

5

THE LEASIDE TRUST

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Leaside Trust is a company limited by guarantee and not having a capital divided by shares.

The company was incorporated on 6[th] October 1993 and is a registered charity constituted as a Limited Company under the Memorandum and Articles of Association. The charity registration number is 1027645 and the company registration number is 02859615.

Recruitment and appointment of trustees

In recruiting and appointing new trustees, the Board considers the mix of skills and experience required, for example experience in the education sector, business skills, legal expertise, financial knowledge, personal involvement in Leaside’s work.

The Board has been reviewing its mix of skills and is looking to recruits to fill gaps. The minimum number of trustees is two; there is no maximum number.

Trustee induction and training

The Board has prepared a trustees induction pack to ensure that all new trustees quickly become familiar with the charity and its work, and with the responsibilities of their role. The trustees undertake periodic reviews of their training needs.

Organisation

The Board meets at least four times a year and individual trustees do additional work between Board meetings by taking responsibility for particular areas of the Board’s work. These include activities and programmes, communications and marketing, finance, fundraising, personnel, policies and procedures and premises.

The Chief Executive, who is appointed by the trustees, manages the day-to-day operations of the charity under delegated powers approved by the trustees.

The Chief Executive has a small team of permanent and sessional staff, and the charity is extensively supported by volunteers.

Related parties

During the year there were no related party transactions.

Risk management

The Board has a range of detailed policies designed to address the major risk areas to which the charity is exposed. These include Health and Safety, Child Protection, Equal Opportunities and Financial Control Procedures, all of which are reviewed regularly.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company Number: 02859615

Registered Charity Number: 1027645

Directors and Trustees:

Derek Stride (Chair) Paul Watkins – Resigned on 31/03/2022 Sharon Freeman Dominic Burnett Steven Miles Chris Heaume

6

THE LEASIDE TRUST

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

REFERENCE AND ADMINISTRATIVE DETAILS (Cont/d)

Secretary: Derek Stride (Acting) Paul Watkins - Resigned on 31/03/2022 Senior Management Team: Terry Kinsella – Chief Executive Officer Registered Office: Spring Lane, Clapton, London E5 9HQ Independent Examiner: Samir Shah – Chartered Accountant Ramon Lee Ltd, 93 Tabernacle Street, London EC2A 4BA Website : www.leaside.co.uk Bankers: HSBC, 283 Mare Street, London E8 1PJ

Trustees’ responsibilities in relation to the financial statement

The trustees (who are also directors of the charitable company for the purposes of company law responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year 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 those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

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

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees and signed on its behalf by:

DEREK STRIDE Chair

22 November 2022

7

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

THE LEASIDE TRUST

I report on the financial statements of the charitable company for the year ended 31 March 2022.

This report is made solely to the charity's trustees, as a body, in accordance with the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my Independent Examination, for this report, or for the opinions I have formed.

Respective responsibilities and basis of report

As the charity’s trustees of the Company (who are also the directors of the charitable company for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the financial statements of the charitable company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s financial statements as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ICAEW.

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

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 financial statements to be reached.

SAMIR SHAH – CHARTERED ACCOUNTANT RAMON LEE LTD 93 TABERNACLE STREET LONDON EC2A 4BA

22 November 2022

8

THE LEASIDE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2022

SUMMARY INCOME AND EXPENDITURE ACCOUNT

Notes
Unrestricted
Funds
£
Income
Grants and donations
2
70,892
Income from charitable activities
3
133,406
Income from other trading activities
4
18,060
Other income
5
431
Total income
222,789
Expenditure
Cost of raising funds
6
21,474
Expenditure on charitable activities
6
138,024
Total expenditure
159,498
Net income / (expenditure) & net
movement in funds
63,291
Reconciliation of funds
Total funds, brought forward
243,560
Total funds, carried forward
306,851		 Restricted
Funds
£
27,661
33,130
-
-
60,791
-
88,692
88,692
(27,901)
467,220
439,319		 Total
2022
£
98,553
166,536
18,060
431
283,580
21,474
226,716
248,190
35,390
710,780
746,170		 Total
2021
£
70,742
140,420
30,632
-
241,794
2,187
188,018
190,205
51,589
659,191
710,780

The restricted funds totalling £439,319 (2021 - £467,220) as detailed in Note 15 represents capital funding for the Leaside Centre building and Boat Storage building and is, therefore, not liquid funds.

CONTINUING OPERATIONS

None of the charity’s activities were acquired or discontinued during the above two financial periods.

TOTAL RECOGNISED GAINS AND LOSSES

The charity has no recognised gains or losses other than the above movement in funds for the above two financial periods.

The notes on pages 11 to 20 form part of these financial statements

9

THE LEASIDE TRUST

BALANCE SHEET AS AT 31 MARCH 2022

Notes 2022 2021
£ £ £ £
Fixed assets
Tangible fixed assets 11 674,867 597,059
Current assets
Debtors 12 9,673 7,859
Cash at bank and in hand 85,771 152,537
95,444 160,396
Current Liabilities
Creditors falling due within one year 13 (10,238) (9,100)
Net current assets 85,206 151,296
Non-Current Liabilities
Creditors falling due more than one year 14 (13,903) (37,575)
Net assets 746,170 710,780
The funds of the charity
Unrestricted funds 15 306,851 243,560
Restricted funds 15 439,319 467,220
Total charity funds 746,170 710,780

For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledge their responsibilities for:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.

These financial statements were approved and authorised for issue by the Board of Directors and Trustees on 22 November 2022 and were signed on its behalf by:

………………………………………………………. DEREK STRIDE (Chair)

The notes on pages 11 to 20 form part of these financial statements

………………………………………………………. DOMINIC BURNETT (Trustee) Company Registration Number 02859615

10

THE LEASIDE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.

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

The 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 financial statements.

1.2 Preparation of financial statements on a going concern basis

The charity’s financial statements show a net surplus of £35,390 (2021 - £51,589) for the year and free reserves of £71,303 (2021 - £113,721) as at the year end. The trustees are of the view that these results have secured the immediate future of the charity for the next 12 to 18 months and on this basis the charity is a going concern.

1.3 Income recognition

All income is included in the statement of financial activities when the charity is legally entitled to it, receipt is probable and the amount can be measured with sufficient reliability.

Grant income

Grants are credited to the statement of financial activities when the charity is entitled to the funds. Income is only deferred where there are time constraints imposed by the donor or if the funding is performance related.

Where entitlement to grants receivable is dependent upon fulfilment of conditions within the charity’s control, the income is recognised when there is sufficient evidence that conditions will be met.

Grants supporting the core activities of the charity and with no specific restrictions placed upon their use are included within donations and legacies. Grants that have specific restrictions placed upon their use are included within income from charitable activities.

Capital grants for the purchase of fixed assets are credited to restricted incoming resources on the earlier date of when they are received or receivable. Deprecation on the related fixed assets is charged against the restricted fund.

Donations and legacies

Donations are recognised in the period in which they are received. Legacy income is recognised when the charity’s entitlement is judged to be probable and where the amount can be reliably measured.

Contract income

Income from charitable activities include income recognised as earned (as the related goods and services are provided) under contract.

Room hire and service change income

Room hire and service charge income are credited to income in the year in which they are receivable.

11

THE LEASIDE TRUST

NOTES TO THE FINANCIAL STATEMENTS (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

1.4 Volunteers and donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refers to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

1.5 Expenditure recognition and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.6 Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 7.

1.7 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

1.8 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Individual fixed assets costing £500 or more are capitalised at cost. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful life on the following basis:

Leasehold property - Over 40 years
Boat storage - Over 18 years
Furniture and equipment - 20% per annum on cost
Computer equipment - 33 1/3% per annum on cost
Motor vehicles - 20% per annum on cost

1.9 Debtors

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

12

THE LEASIDE TRUST

NOTES TO THE FINANCIAL STATEMENTS (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

1.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term cash deposits.

1.11 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.

1.12 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.13 Taxation

The charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

1.14 Judgement and key sources of estimation uncertainty

In the application of the company’s accounting policies, the charity is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underling assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

1.15 Pension

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund. The charity has no liability under the scheme other than for the payment of those contributions.

1.16 Cash flow statement

The charitable company qualifies as a small company and advantage has been taken of the exemption provided by SORP (FRS 102), not to prepare a cash flow statement.

13

THE LEASIDE TRUST

NOTES TO THE FINANCIAL STATEMENTS (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

2. GRANTS AND DONATIONS

London Borough of Hackney
DWP Resource Management
ESC Lottery Fund
The Clothworkers Foundation
Sport England
Jack Petchey Foundation
HMRC Job Retention grant
Other donations
Donations in kind		 Unrestricted
Funds
£
16,700
-
3,000
-
-
2,700
7,044
1,448
40,000
70,892		 Restricted
Funds
£
-
19,161
-
8,500
-
-
-
-
-
27,661		 Total
2022
£
16,700
19,161
3,000
8,500
-
2,700
7,044
1,448
40,000
98,553		 Total
2021
£
4,000
-
-
-
9,600
-
55,840
780
522
70,742

Grants and donation income in 2021 totalling £70,742 was all attributed to unrestricted funds.

The charity is indebted to The Sinclair Trust for donating a narrow boat. The values placed on this donations amounting to £40,000 is recognised within income as donations, and corresponding charges included within fixed assets as additions to equipment, plant & machinery.

3. INCOME FROM CHARITABLE ACTIVITIES

Activities for young people
Grants and donations:
London Borough of Hackney
YES Charity
Lottery Community Fund
L B Waltham Forest
Sessional income
Membership fees
Trip income		 Unrestricted
Funds
£
65,000
-
-
7,200
45,655
12,048
3,503
133,406		 Restricted
Funds
£
16,380
7,250
9,500
-
-
-
-
33,130		 Total
2022
£
81,380
7,250
9,500
7,200
45,655
12,048
3,503
166,536		 Total
2021
£
107,136
-
-
-
28,306
4,673
305
140,420

Income from charitable activities in 2021 totalling £140,420 was all attributed to unrestricted funds.

14

THE LEASIDE TRUST

NOTES TO THE FINANCIAL STATEMENTS (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

4. OTHER TRADING ACTIVITIES

OTHER TRADING ACTIVITIES
Premises hire
Other income		 Unrestricted
Funds
£
18,060
-
18,060		 Restricted
Funds
£
-
-
-		 Total
2022
£
18,060
-
18,060		 Total
2021
£
30,630
2
30,632

Other trading income in 2021 totalling £30,632 was all attributed to unrestricted funds.

5. INVESTMENT INCOME

NVESTMENT INCOME
Other income Unrestricted
Funds
£
431
431		 Restricted
Funds
£
-
-		 Total
2022
£
431
431		 Total
2021
£
-
-

6. ANALYSIS OF EXPENDITURE

Salaries and staff costs
Direct project costs
Motor and travel expenses
Premises costs
Depreciation
Fundraising costs
Support costs (Note7)
Governance costs (Note 7)		 Raising
Funds
£
12,058
-
-
-
-
-
9,081
335
21,474		 Activities for
young people
£
47,838
27,155
1,849
11,615
56,656
-
78,698
2,905
226,716		 Total
2022
£
59,896
27,155
1,849
11,615
56,656
-
87,779
3,240
248,190		 Total
2021
£
68,270
19,300
816
10,104
42,221
216
46,278
3,000
190,205

Of the £248,190 expenditure in 2022 (2021 - £190,205), £159,498 was charged to unrestricted funds (2021 - £160,505) and £88,692 to restricted funds (2021 - £29,701).

15

THE LEASIDE TRUST

NOTES TO THE FINANCIAL STATEMENTS (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

7. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS

The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Governance costs and other support costs are apportioned separately between charity’s key activity undertaken (see note 6) in the year. All the general support and governance costs have been apportioned to the various charitable activities on the basis of staff time allocated to each activity.

Administration and finance staff costs
Management staff costs
Insurance
Communications and IT costs
Legal and professional costs
Bank interest
Miscellaneous expenses
Independent examiner's fees		 General
support
£
44,215
30,146
5,331
4,083
1,567
755
1,682
-
87,779		 Governance
function
£
-
-
-
-
-
-
-
3,240
3,240		 Total
2022
£
44,215
30,146
5,331
4,083
1,567
755
1,682
3,240
91,019		 Total
2021
£
6,705
26,407
4,892
3,774
1,580
522
2,398
3,000
49,278

8. NET INCOME/(EXPENDITURE) FOR THE YEAR

Net movement in funds is shown after charging:
Independent examiner's fees
Depreciation on tangible fixed assets		 2022
£
3,240
56,656		 2021
£
3,000
42,221

9. ANALYSIS OF STAFF COSTS, TRUSTEES REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL

STAFF COSTS
Salaries
Redundancies
National Insurance
Pension		 2022
£
121,577
-
5,533
7,147
134,257		 2021
£
89,400
1,975
2,958
7,050
101,383

There was one employee (2021 – Nil) whose annual emoluments were £60,000 or more. The charity is assisted by non-remunerated volunteers in its operations.

No Trustee received any remuneration during the year (2021 - £Nil). No trustees received reimbursed expenses during the year (2021 - £Nil).

The key management personnel of the charity comprise the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £60,292 (2021 - £52,815).

16

THE LEASIDE TRUST

NOTES TO THE FINANCIAL STATEMENTS (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

10. STAFF NUMBERS

The average monthly number of full-time staff employed by the charity during the period was as follows:

Raising funds
Direct charitable work
Administration and support		 2022
0.20
1.73
2.20
4.13		 2021
-
2.80
0.70
3.50

The average monthly number of persons employed by the charity during the year was 5 (2021 – 4).

11. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
NET BOOK VALUES
Leasehold land & buildings
Boat storage
Equipment, plant and machinery
Computer equipments
Motor Vehicles
MOVEMENTS IN YEAR
Cost or valuation
Leasehold land & buildings
Boat storage
Equipment, plant and machinery
Computer equipments
Motor Vehicles
Depreciation
Leasehold land & buildings
Boat storage
Equipment, plant and machinery
Computer equipments
Motor Vehicles		 Opening
Balances
£
1,001,671
77,057
142,154
-
13,434
1,234,316
Opening
Balances
£
499,735
5,351
118,738
-
13,433
637,257		 Additions
£
74,589
-
60,969
1,723
-
137,281
Charge
For Year
£
31,857
4,281
19,944
574
-
56,656		 2022
£
544,668
67,425
61,624
1,149
1
674,867
Disposals
£
-
-
2,817
-
-
2,817
Disposals
£
-
-
-
-
-
-		 2021
£
501,936
71,706
23,416
-
1
597,059
Closing
Balances
£
1,076,260
77,057
200,306
1,723
13,434
1,368,780
Closing
Balances
£
531,592
9,632
138,682
574
13,433
693,913

17

THE LEASIDE TRUST

NOTES TO THE FINANCIAL STATEMENTS (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

12. DEBTORS

Trade debtors
Prepayments
13.
CREDITORS: amounts falling due within one year
Trade creditors
Taxation and social security
Other creditors
Accruals
Government Loan < 1 year
14.
CREDITORS: amounts falling due more than one year
Government Loan > 1 year		 2022
£
6,060
3,613
9,673
2022
£
90
2,151
577
3,240
4,180
10,238
2022
£
13,903
13,903		 2021
£
5,350
2,509
7,859
2021
£
-
1,696
-
3,229
4,175
9,100
2021
£
37,575
37,575

18

THE LEASIDE TRUST

NOTES TO THE FINANCIAL STATEMENTS (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

15. MOVEMENT IN FUNDS

Balance as
at 01.04.21
Restricted funds:
£
DWP Resource Management
-
The Clothworkers Foundation
-
London Borough of Hackney
-
YES Charity
-
Lottery Community Fund
-
Boat storage
65,663
Building Development
401,557
467,220
Unrestricted funds:
General funds
243,560
710,780
Analysis of movements in funds - previous year
Balance as
at 01.04.20
Restricted funds:
£
Equipment
1,800
Boat storage
69,944
Building Development
425,177
496,921
Unrestricted funds:
General funds
162,270
659,191		 Balance as
at 01.04.21
Restricted funds:
£
DWP Resource Management
-
The Clothworkers Foundation
-
London Borough of Hackney
-
YES Charity
-
Lottery Community Fund
-
Boat storage
65,663
Building Development
401,557
467,220
Unrestricted funds:
General funds
243,560
710,780
Analysis of movements in funds - previous year
Balance as
at 01.04.20
Restricted funds:
£
Equipment
1,800
Boat storage
69,944
Building Development
425,177
496,921
Unrestricted funds:
General funds
162,270
659,191		 Income
£
19,161
8,500
16,380
7,250
9,500
-
-
60,791
222,789
283,580
Income
£
-
-
-		 Expenditure
£
19,161
8,500
16,380
7,250
9,500
4,281
23,620
88,692
159,498
248,190
Expenditure
£
1,800
4,281
23,620		 Balance as
at 31.03.22
£
-
-
-
-
-
61,382
377,937
439,319
306,851
746,170
Balance as
at 31.03.21
£
-
65,663
401,557
496,921 - 29,701 467,220
162,270 241,794 160,504 243,560
659,191 241,794 190,205 710,780

Description, nature and purpose of restricted funds:

DWP Resource Management - Funding to support a 6-month work placement for 3 kickstart employees.

The Clothworker’s foundation – Grant money for a boiler system which was purchased and installed during kit out of the changing rooms.

London Borough of Hackney – Funding received for youth activities.

YES Charity – Funding to purchase racing kayaks.

Lottery Community Fund – Funding to provide 10 community narrowboat trips.

Boat Storage: Funding received towards the costs of a board storage building. Balance carried forward represents un-depreciated costs.

19

THE LEASIDE TRUST

NOTES TO THE FINANCIAL STATEMENTS (Cont/d)

FOR THE YEAR ENDED 31 MARCH 2022

15. MOVEMENT IN FUNDS(Cont/d)

Building Development: Funding received and paid towards the cost of building development. The Reserves carried forward represent unamortised costs.

Equipment: Funding received towards the costs of equipment.

Description, nature and purpose of unrestricted funds:

General funds: General fund represents funds available to spend at the discretion of the trustees.

16. ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS

ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS
Unrestricted
Funds
£
Tangible fixed assets
235,548
Net current assets
85,206
Non-current liabilities
(13,903)
306,851
Analysis of net assets between funds - previous year
Unrestricted
Funds
£
Tangible fixed assets
129,839
Net current assets
151,296
Non-current liabilities
(37,575)
243,560		 Restricted
Funds
£
439,319
-
-
439,319
Restricted
Funds
£
467,220
-
-
467,220		 Total
2022
£
674,867
85,206
(13,903)
746,170
Total
2021
£
597,059
151,296
(37,575)
710,780

Analysis of net assets between funds - previous year

17. PENSION

The pension cost charge represents contributions payable by the charity to the fund and amounted to £7,147 (2021 – £7,050). Contributions totalling £Nil (2021 – £Nil) were payable to the fund at the year end.

18. RELATED PARTY TRANSATIONS

No related party transactions took place during the year.

20