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2022-03-31-accounts

Crich Glebe Field Trust Limited

Registered Number 3050337 (England and Wales)

Charity Number 1045937

Unaudited Trustees' Report and Financial Statements for the Year Ended 31 March 2022

Contents

9-16 Notes to the Financial Statements

2022 - Trustees Report and Financial Statements - Crich Glebe Field Trust Limited

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Reference and Administrative Details of The Company, its Trustees and Advisers Crich Glebe Field Trust

1 Trustees

2 Company Regsitered Number

3 Charity Registered Number

4 Regsitered Office

Crich Glebe Field Trust Limited, Glebe Field Centre, Glebe Field Close, Crich, Derbyshire, DE4 5EU

5 Independent Examiner

Andrew J Housley MICB PM.Dip Square 1 Accounting, 4 Tennyson Way, Chesterfield S42 5BA

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Trustees' Report

The trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements ofCrich Glebe Field Trust Limited(the company) for the year ended 31 March 2022 The trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements of the company's governing document, and the provisions of the Statement of Recommended Practice (SORP), 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) as amended by Update Bulletin 1 (effective 1 January 2015).

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 is not required.

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 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.

The 2021-22 financial year saw the Trust’s Glebe Field Centre start to benefit from being fully open again following all of the restrictions of the Covid-19 pandemic. However, this also meant that though revenue from trading activity started to slowly recover, income from the national furlough scheme and local grant support from Amber Valley Borough Council were largely at an end.

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. When fully open, local people, from babies to nonagenarians, use the centre's facilities on a weekly basis.

A full community consultation process was carried out during the summer 2021 by way of a Community Conversation. This enabled the Trust to agree a new Five Year Strategy 2022-27 which was presented and accepted at the 2021 AGM. One key decision of that strategy is to end the provision of a formal Daycare service at the Glebe.

A significant requirement of the strategy is that management of the centre is undertaken by an employed Centre Manager in the future. In order to develop the funding required to support this post, and to help build the activity and use of the centre, the Trustees resolved to appoint a partner organisation, Sporting Communities CIC, on a fixed term/fee contract. This work commenced in May 2022.

Despite the Covid-19 related restrictions in the early part of the year, the slow re-building of activities in the Centre during the second half of the year and the withdrawal of Covid-19 grant support, the Trust finished the year with an increased Cash at Bank position.

Structure, Governnace 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.

At the 2021 AGM the Trustees presented a proposal to move towards a new governance structure of Charitable Incorporated Organisation (CIO) including an update to the charity’s objects. This proposal was accepted and a new constitution will be drafted for approval at the 2022 AGM and then presented to the Charities Commission for ratification by the start of the 2023/4 financial year.

Recruitment and Appointment of New Trustees

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

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Trustees' Report

3 elected representatives of the local community (elected annually) at AGM by membership of The Crich Glebe Field Trust Limited.

At the 2021 AGM (held in February 2022) the serving three elected representatives were re-confirmed in post.

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.

Signed on behalf of the board

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Chair of Trustees

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Independant Examiner's 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 the company for the year ended31 March 2022

Responsibilities and Basis of Report

As the trustees of the company (and 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 me that the accounts of the company 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 the company's accounts 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 matters have come to my attention in connection with the examination giving me cause to believe:

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.

This report is made solely to the company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company'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 do not accept or assume responsibility to anyone other than the company and the company's trustees as a body, for my work or for this report.

Signature:

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Andrew J Housley MICB PM. Dip Square 1 Accounting, Chesterfield, S42 5BA

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Statement of Financial Activities Incorporating Income and Expenditure Account

Note
Income From:
Donations & Legacies
3
Charitable Activities
4
Other Trading Activities
5
Investment
6
Total Income
Expenditure On:
Charitable Activities
7
Total Expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
Funds
2022
£
1,187
50,224
43,467
3
94,881
112,410
112,410
(17,529)
601,262
(17,529)
583,733		 Total
Funds
2022
£
1,187
50,224
43,467
3
94,881
112,410
112,410
(17,529)
601,262
(17,529)
583,733		 Total
Funds
2021
£
14,722
85,081
18,432
14
118,249
101,238
101,238
17,011
584,251
17,011
601,262

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 9 to 16 form part of these financial statements.

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Balance Sheet

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors; amounts falling due within one year
12
Net current assets
Total net assets
Charity funds
General funds
13
Total funds		 2022
2021
£
£
507,214
525,873
3,775
3,343
73,565
72,626
77,340
75,969
(822)
(579)
76,518
75,390
583,732
601,263
583,733
601,262
583,733
601,262		 2022
2021
£
£
507,214
525,873
3,775
3,343
73,565
72,626
77,340
75,969
(822)
(579)
76,518
75,390
583,732
601,263
583,733
601,262
583,733
601,262		 2022
2021
£
£
507,214
525,873
3,775
3,343
73,565
72,626
77,340
75,969
(822)
(579)
76,518
75,390
583,732
601,263
583,733
601,262
583,733
601,262		 2022
2021
£
£
507,214
525,873
3,775
3,343
73,565
72,626
77,340
75,969
(822)
(579)
76,518
75,390
583,732
601,263
583,733
601,262
583,733
601,262
583,732 601,263
583,733 601,262
583,733 601,262

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the trustees on and signed on their behalf by:

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Chair of Trustees

The notes on pages 9 to 16 form part of these financial statements.

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Notes to the Financial Accounts

1 Basis of preparing the financial statements

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.

Crich Glebe Field Trust Limi ted meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Income

All income is recognised once the company has an entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company 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 refer to the trustees' 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 company which is the amount the company 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.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer the economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs that are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management. Governance costs are those incurred in connection with the administration of the company and compliance with constitutional and statutory requirements.

Charitable activities and governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

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Notes to the Financial Accounts

Tangible fixed assets and depreciation

All assets costing more than £150.00 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities incorporating income and expenditure accounts.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: basis:

Account Depreciation Method Averaging Method Rate (%) Period (yrs)
Land & Buildings Straight Line Full Month 2
Fixture & Fittings Reducing Balance Full Month 25
Office Equipment Reducing Balance Full Month 25

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

Debtors

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

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.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised as the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

Financial instruments

The company 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.

Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Fund accounting

General funds are unrestricted funds that are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements.

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Notes to the Financial Accounts

2 Company status

The company is a company limited by guarantee. The members of the company are the trustees named on page 3. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

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Notes to the Financial Statements

3
4
5
6
Income from Investments
Interest Received
Glebe Fundraising Activities
Grants - Reserved
Grants - Unreserved
Job Retention Grant
Parish Council Contribution
Income from other trading activities
Rental Income
Catering Sales
Other income
Income from donations and legacies
Donations - Reserved
Donations - Unreserved
Income from charitable activities
Crich Live		 Unrestricted
funds
2022
£
375
812
1,187
Unrestricted
funds
2022
£
680
1,243
15,000
16,180
7,601
9,520
50,224
Unrestricted
funds
2022
£
32,148
11,169
150
43,467
Unestricted
funds
2022
£
3
3		 Total
funds
2022
£
375
812
1,187
Total
funds
2022
£
680
1,243
15,000
16,180
7,601
9,520
50,224
Total
funds
2022
£
32,148
11,169
150
43,467
Total
funds
2022
£
3
3		 Total
funds
2021
£
1,976
12,746
14,722
Total
funds
2021
£
13,200
30,278
31,436
10,167
85,081
Total
funds
2021
£
16,485
1,947
18,432
Total
funds
2021
£
14
14

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Notes to the Financial Statements

7 Expenditure on Charitable Activities

Analysis of direct costs

Catering Purchases
Direct Expenses
Direct Wages - Casual
Analysis of support costs
Staff costs
Depreciation
Rent & Utilities
Motor and travelling
Office costs
Premises costs
Accountancy, Legal & Professional fees
8
Staff Costs
Wages & Salaries
Contribution to defined pension schemes
Administration
9
Trustees' remuneration and expenses
The average number of persons employed by the company during the year was as follows:
No employee received remuneration amounting to more than £60,000 in either year.
Remuneration or other benefits received by the trustees during the year
Total expenses reimbursed or paid directy to the trustees during the year		 Total
funds
2022
£
4,306
98
4,404
Total
funds
2022
£
53,723
18,659
8,238
226
13,818
5,552
7,790
108,006
2022
£
53,723
178
53,901
2022
No.
8
2022
£
NIL
NIL		 Total
funds
2,021
£
1,672
1,068
67
2,807
Total
funds
2021
£
54,197
18,751
5,847
26
12,040
5,581
1,989
98,431
2021
£
54,197
54,197
2021
No.
9
2021
£
NIL
NIL

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Notes to the Financial Statements

10 Tangilble fixed assets

Land &
Buildings
£
At 1 April 2021
919,012
At 31 March 2022
919,012
At 1 April 2021
394,253
Charge for the year
18,380
At 31 March 2022
412,633
Net book value
At 31 March 2022
506,379
At 31 March 2021
524,759
11 Debtors
Trade debtors
Prepayments and accrued income
Stock
12 Creditors: Amounts falling due within one year
Trade creditors
Other taxation & social security
Other creditors
Accruals and deferred income
Cost or valuation
Additions in the year
Disposals in the year
Depreciation		 Fixtures &
Fittings
£
6,324
6,324
5,776
137
5,913
411
548
2022
£
3,275
500
3,775
2022
£
691
131
822		 Plant &
Machinery
£
24,410
24,410
23,844
142
23,986
424
566
2021
£
2,843
500
3,343
2021
£
675
(149)
53
579		 Total
£
949,746
-
949,746
423,873
18,659
442,532
507,214
525,873

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Notes to the Financial Statements

13 Statement of funds

Statement of funds - current year

Statement of funds - current year
General Funds
Total of funds
Statement of funds - prior year
General Funds
Total of funds		 Balance at
01 April
2021
£
601,262
601,262
Balance at
01 April
2020
£
584,251
584,251		 Income
£
94,881
94,881
Income
£
118,249
118,249		 Expenditure
£
(112,410)
(112,410)
Expenditure
£
(101,238)
(101,238)		 Balance at
31 March
2022
£
583,733
583,733
Balance at
31 March
2021
£
601,262
601,262

All restricted funds have been provided to the company for particular purposes, for example, the purchase of fixed assets or for funding the costs incurred on specific projects.

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Notes to the Financial Statements

14 Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year		 Unrestricted
funds
2022
£
507,214
77,340
(822)
583,732		 Total
funds
2021
£
507,214
77,340
(822)
583,732

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year		 Unrestricted
funds
2022
£
525,873
75,969
(579)
601,263		 Total
funds
2021
£
525,873
75,969
(579)
601,263

15 Pension Commitments

The company operates a defined contributions 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 company to the fund and amounted to

2022
£
178		 2021
£
-

16 Related Party Transactions

Except for the disclosure in respect of the reimbursement of trustees' expenses in note 9, there are no additional related party transactions to disclose.

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