Crich Glebe Field Trust Limited
Charity No. 1045937
Company No. 03050337
Trustees' Report and Unaudited Accounts
31 March 2021
Crich Glebe Field Trust Limited Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 4 |
| Independent Examiner's Report | 5 |
Page 1
Crich Glebe Field Trust Limited Trustees Annual Report
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 03050337
Charity No. 1045937
Registered Office
Glebe Field Centre Glebe Field Close Crich Derbyshire DE4 5EU
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
A.J. Auld D. Billyeald (Resigned 19 November 2020) E.P. Dolby M. Lane (Resigned 30 November 2020) D.G. MacArthur W. Newcomb (Resigned 30 November 2020) V. Thorpe (Resigned 2 December 2020) I. Whitehead P.M. Yorke Company Secretary M. Lane (Resigned 30 November 2020)
Accountants
Willis Cooper Unit 6 Heritage Business Centre Derby Road, Belper Derbyshire DE56 1SW
Bankers
HSBC plc 1 King Street Belper Derbyshire DE56 1PP
Page 2
Crich Glebe Field Trust Limited Trustees Annual Report
OBJECTIVES AND ACTIVITIES
The Trust continues to provide a full range of services at the Glebe Field Centre, to ensure that the centre remains a focus for activities in the local area. The centre is used for church activities, Parish Council meetings, early years learning, baby clinics, evening classes, society meetings and events, Luncheon Club and private parties.
Health related facilities are also provided, including an optician and chiropodist and hairdressing.
Due regard has been given by the Trustees in respect of guidance given by the Charities Commission on public benefit in deciding the objects and therefore the activities the charity undertakes.
For much of the 2020-21 financial year, the Trust’s Glebe Field Centre had to remain almost completely closed due to the Covid-19 pandemic and government guidance. The majority of the staff were furloughed for the duration of the closure. The Trust was in receipt of grant support from Amber Valley Borough Council and also benefited from the national furlough scheme. Income was reduced to standing rental income from the Old Vicarage properties.
ACHIEVEMENTS AND PERFORMANCE
The Trust aims to continue to be used by a comprehensive range of organisations catering for a wide spectrum of the local community with diverse interests and needs. Local people, from babies to nonagenarians, use the centre's facilities on a weekly basis.
Following the appointment of new Trustees and a completely new set of Management Committee members, the Trustees and Management Committee started a full strategic review in January 2021 including a comprehensive consultation process. A new Strategy will be developed and recommended to the next AGM.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Following the appointment of new Trustees in November 2020, the Trustees have embarked on a full review of the Trust's structure, governance and management.
Trustees are appointed in the following manner:
1 nomination by the Archdeacon of Chesterfield (normally the Vicar of Crich)
- 1 nomination by Crich Parish Council
3 elected representatives of the local community (elected annually) at AGM by membership of The Crich Glebe Field Trust Limited.
At the AGM in November 2020 the then serving three elected representatives all stepped down and three new Trustees were elected. Following this, the nominated member from the Crich Parish Council has also changed twice.
The Trust actively seeks to appoint Trustees to fill any vacancies from the specific community bodies or with appropriate skills. It is the policy of the Trust to provide any necessary training.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
Page 3
Crich Glebe Field Trust Limited Trustees Annual Report
A.J. Auld Trustee 21 December 2021
Page 4
Crich Glebe Field Trust Limited Independent Examiners Report
Independent Examiner's Report to the trustees of Crich Glebe Field Trust Limited
I report to the charity trustees on my examination of the accounts of Crich Glebe Field Trust Limited for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts 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
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the Charities SORP (FRS 102).
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.
Robert Cooper, Willis Cooper Limited FCA Willis Cooper Unit 6 Heritage Business Centre Derby Road, Belper Derbyshire DE56 1SW 21 December 2021
Page 5
Crich Glebe Field Trust Limited Statement of Financial Activities
for the year ended 31 March 2021
| Notes Income and endowments from: Donations and legacies 4 Other trading activities 5 Investments 6 Other 7 Total Expenditure on: Charitable activities 8 Other 9 Total Net gains on investments Net income/(expenditure) 10 Transfers between funds Net income/(expenditure) before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 24,889 18,960 14 74,914 |
Total funds 2021 £ 24,889 18,960 14 74,914 |
Total funds 2020 £ 35,692 78,137 58 - |
|---|---|---|---|
| 118,777 62,947 38,290 |
118,777 62,947 38,290 |
113,887 78,140 54,972 |
|
| 101,237 - |
101,237 - |
133,112 - |
|
| 17,540 - |
17,540 - |
(19,225) - |
|
| 17,540 | 17,540 | (19,225) | |
| 17,540 584,251 |
17,540 584,251 |
(19,225) 603,476 |
|
| 601,791 | 601,791 | 584,251 |
Page 6
Crich Glebe Field Trust Limited Balance Sheet
at 31 March 2021
| Company No. 03050337 Notes 2021 £ Fixed assets Tangible assets 12 525,873 525,873 Current assets Stocks 13 500 Debtors 14 3,593 Cash at bank and in hand 73,347 77,440 Creditors:Amount falling due within one year 15 (1,522) Net current assets 75,918 Total assets less current liabilities 601,791 Net assets excluding pension asset or liability 601,791 Total net assets 601,791 The funds of the charity Unrestricted funds General funds 16 601,791 601,791 Total funds 601,791 |
2020 £ 543,952 |
|---|---|
| 543,952 500 3,012 40,210 |
|
| 43,722 (3,423) |
|
| 40,299 584,251 |
|
| 584,251 | |
| 584,251 | |
| 584,251 | |
| 584,251 | |
| 584,251 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 21 December 2021
And signed on its behalf by:
A.J. Auld Trustee 21 December 2021
Page 7
Crich Glebe Field Trust Limited Notes to the Accounts
for the year ended 31 March 2021
- 1 Accounting policies
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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
Crich Glebe Field Trust Limited Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold property 2% straight line Plant and machinery 25% reducing balance Fixtures and fittings 25% reducing balance
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other 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.
Page 9
Crich Glebe Field Trust Limited Notes to the Accounts
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Page 10
Crich Glebe Field Trust Limited Notes to the Accounts
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Other trading activities Investments Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Donations |
Unrestricted £ 24,889 24,889 |
Unrestricted funds 2020 £ 35,692 78,137 58 113,887 78,140 54,972 133,112 (19,225) (19,225) (19,225) 603,476 584,251 Total 2021 £ 24,889 24,889 |
Total funds 2020 £ 35,692 78,137 58 |
|---|---|---|---|
| 113,887 78,140 54,972 |
|||
| 133,112 | |||
| (19,225) | |||
| (19,225) | |||
| (19,225) 603,476 |
|||
| 584,251 | |||
| Total 2020 £ 35,692 |
|||
| 35,692 |
Page 11
Crich Glebe Field Trust Limited
Notes to the Accounts
5 Income from other trading activities
| Room rental Meals Daycare fees and transport Other miscellaneous income 6 Income from investments Deposit account interest 7 Other income Grants received 8 Expenditure on charitable activities Governance costs Wages and salaries Insurance Telephone, postage & stationary costs Accountancy & legal fees |
Unrestricted £ 16,806 - - 2,154 18,960 Unrestricted £ 14 14 Unrestricted £ 74,914 74,914 |
Total 2021 £ 16,806 - - 2,154 18,960 Total 2021 £ 14 14 Total 2021 £ 74,914 74,914 |
Total 2020 £ 42,458 14,466 16,348 4,865 |
|---|---|---|---|
| 78,137 | |||
| Total 2020 £ 58 |
|||
| 58 | |||
| Total 2020 £ - |
|||
| - | |||
| Unrestricted £ 54,264 4,020 1,785 2,878 62,947 |
Total 2021 £ 54,264 4,020 1,785 2,878 62,947 |
Total 2020 £ 66,979 4,506 2,270 4,385 |
|
| 78,140 |
Page 12
Crich Glebe Field Trust Limited Notes to the Accounts
9 Other expenditure
| 9 | Other expenditure | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | Total | |||
| 2021 | 2020 | ||||
| £ | £ | £ | |||
| Motor and travel costs | 26 | 26 | 208 | ||
| Premises costs | 19,513 | 19,513 | 36,114 | ||
| Amortisation, depreciation, | |||||
| impairment, profit/loss on | 18,751 | 18,751 | 18,650 | ||
| disposal of fixed assets | |||||
| 38,290 | 38,290 | 54,972 | |||
| 10 | Net income/(expenditure) before transfers | ||||
| 2021 | 2020 | ||||
| This is stated after charging: | £ | £ | |||
| Depreciation of owned fixed assets | 18,751 | 18,650 | |||
| 11 | Staff costs | ||||
| No employee received emoluments in excess of £60,000. | |||||
| The average monthly number of full time equivalent employees during the year was as follows: | |||||
| 2021 | 2020 | ||||
| Number | Number | ||||
| Administration | 9 | 10 | |||
| 9 | 10 | ||||
| 12 | Tangible fixed assets | ||||
| Land and buildings |
Plant and machinery |
Fixtures and fittings |
Total | ||
| £ | £ | £ | £ | ||
| Cost or revaluation | |||||
| At 1 April 2020 | 919,012 | 23,738 | 6,324 | 949,074 | |
| Additions | - | 672 | - | 672 | |
| At 31 March 2021 | 919,012 | 24,410 | 6,324 | 949,746 | |
| Depreciation and | |||||
| impairment | |||||
| At 1 April 2020 | 375,873 | 23,656 | 5,593 | 405,122 | |
| Depreciation charge for the | 18,380 | 188 | 183 | 18,751 | |
| year | |||||
| At 31 March 2021 | 394,253 | 23,844 | 5,776 | 423,873 | |
| Net book values | |||||
| At 31 March 2021 | 524,759 | 566 | 548 | 525,873 | |
| At 31 March 2020 | 543,139 | 82 | 731 | 543,952 |
Page 13
Crich Glebe Field Trust Limited Notes to the Accounts
13 Stocks
| Finished goods 14 Debtors Trade debtors Other debtors 15 Creditors: amounts falling due within one year Trade creditors Other taxes and social security Other creditors |
2021 £ 500 500 2021 £ 1,265 2,328 3,593 2021 £ - 147 1,375 1,522 |
2020 £ 500 |
||
|---|---|---|---|---|
| 500 | ||||
| 2020 £ 3,012 - |
||||
| 3,012 | ||||
| 2020 £ 1,829 219 1,375 |
||||
| 3,423 | ||||
| 16 Movement in funds Unrestricted funds: General funds Total funds 17 Analysis of net assets between funds Fixed assets Net current assets |
At 1 April 2020 584,251 584,251 |
Incoming resources (including other gains/losses) £ 118,777 118,777 |
Resources expended £ (101,237) (101,237) Unrestricted funds £ 525,873 75,918 601,791 |
At 31 March 2021 £ 601,791 |
| 601,791 | ||||
| Total £ 525,873 75,918 |
||||
| 601,791 |
Page 14
Crich Glebe Field Trust Limited Notes to the Accounts
18 Reconciliation of net debt
| Reconciliation of net debt | |||
|---|---|---|---|
| Cash and cash equivalents Net debt |
At 1 April 2020 £ |
Cash flows £ |
At 31 March 2021 £ |
| 40,210 | 33,137 | 73,347 | |
| 40,210 40,210 |
33,137 33,137 |
73,347 | |
| 73,347 |
19 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; the Trustees control the company.
Page 15
Crich Glebe Field Trust Limited Detailed Statement of Financial Activities
for the year ended 31 March 2021
| Income and endowments from: Donations and legacies Donations Other trading activities Room rental Meals Daycare fees and transport Other miscellaneous income Investments Deposit account interest Other Grants received Total income and endowments Expenditure on: Governance costs Wages and salaries Insurance Telephone, postage & stationary costs Accountancy & legal fees Total of expenditure on charitable activities Motor and travel costs Travel and subsistence Premises costs Rates Light, heat and power Premises cleaning Premises repairs and maintenance Other premises costs |
Unrestricted funds 2021 £ 24,889 24,889 16,806 - - 2,154 18,960 14 14 74,914 74,914 118,777 54,264 4,020 1,785 2,878 62,947 62,947 26 26 994 5,847 1,133 8,309 3,230 19,513 |
Total funds 2021 £ 24,889 24,889 16,806 - - 2,154 18,960 14 14 74,914 74,914 118,777 54,264 4,020 1,785 2,878 62,947 62,947 26 26 994 5,847 1,133 8,309 3,230 19,513 |
Total funds 2020 £ 35,692 |
|---|---|---|---|
| 35,692 | |||
| 42,458 14,466 16,348 4,865 |
|||
| 78,137 | |||
| 58 | |||
| 58 | |||
| - | |||
| - | |||
| 113,887 66,979 4,506 2,270 4,385 |
|||
| 78,140 | |||
| 78,140 208 |
|||
| 208 | |||
| 1,321 9,884 2,990 10,425 11,494 |
|||
| 36,114 |
Page 16
Crich Glebe Field Trust Limited
Detailed Statement of Financial Activities
| General administrative costs, including depreciation and amortisation Depreciation of land and buildings Depreciation of Plant and machinery Depreciation of Fixtures and fittings Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure) Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
18,380 188 183 18,751 38,290 101,237 - 17,540 17,540 - 17,540 584,251 601,791 |
18,380 188 183 18,751 38,290 101,237 - 17,540 17,540 - 17,540 584,251 601,791 |
18,380 27 243 |
|---|---|---|---|
| 18,650 | |||
| 54,972 | |||
| 133,112 - |
|||
| (19,225) | |||
| (19,225) - |
|||
| (19,225) | |||
| 603,476 | |||
| 584,251 |
Page 17