THE STOREHOUSE
TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
THE STOREHOUSE
CHARITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2020
Trustees: Mr T C Dant Mrs E Middleton Mr G Burnby-Crouch Mr D C A Middleton Mrs O Starsmore (Resigned February 2019) Mr M Hippey
Address: The Storehouse North Parade Skegness Lincolnshire PE25 1BY Charity Number: 1052143 Independent examiner: Mrs Nicola Lenton FCCA Dexter and Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincs PE21 6NA
THE STOREHOUSE
ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives of the Charity
The charity was formed to provide help for those in need. To relieve sickness and financial hardship, and to promote and preserve good health by the provision of funds, goods and services, of any kind, including through the provision of counselling and support. To provide support to other local services and agencies who are helping the needy. They provide a place for the community to meet which has a coffee shop, hairdressers and charity shop. Weekly church services and other charitable activities also take place in the building.
Activities and Achievements this Year
The Coronovirus pandemic has had a significant effect on the activities of the charity this year. Services and groups were disrupted but continued via Facebook live, You Tube or Zoom.
The essential work of the Skegness Foodbank continued throughout periods of Lockdown with a small team of volunteers to provide food parcels and deliver to isolating members of the community. This was possible with the help of community grants and donations from supermarkets, churches and members of the public. As restrictions were eased the Foodbank was relocated and a new path created to give better, safer access for Foodbank clients.
The Re-Store Charity Shop which generates income for community projects was relocated to the space formerly used for the hair salon when Serenity’s proprietor decided to work from home.
A need to provide support for mental health was identified as part of Restore. The café area was used by a local art group who were keen to create an informal opportunity to meet and a Games afternoon was planned as well as the monthly free soup meal. However, lockdowns meant that face to face activities were suspended. The Coffee Shop area and toilets were renovated and redecorated to create a welcoming environment for more groups to meet and this space can be used by a variety of outside agencies as well as The Storehouse. As soon as restrictions were lifted the Alcoholics Anonymous support group resumed meetings at The Storehouse.
When the owner of Coffee and Cake decided not to resume the business, the trustees received business proposals and conducted interviews in order to offer the space to a business that would reflect the values and advance the aims of The Storehouse. The Youth Opportunity Union was chosen because, as well as providing a coffee shop for the local community and holiday makers, it would provide work and training opportunities for young people through its own charity.
Repairs were made to the flat roof to seal leaks. It was agreed that a more efficient heating system was needed in the large auditorium. Quotes and recommendations were gathered, and a boiler fitted at a cost of £10,064.22.
The Storehouse was approached by the local CCG towards the end of the year to ask if they could rent space to deliver vaccinations and the trustees agreed that this would be an excellent opportunity to partner with the NHS in the fight against Coronavirus and would benefit the local community by providing a familiar venue for local people. The charity continued to support other groups in the UK and abroad through regular donations including a couple in Bulgaria who provide temporary accommodation for the homeless.
A property was bequeathed to The Storehouse following the death of a church member, however the Trustees felt that they should approach a solicitor for advice because the executor informed them that the will might be contested. Initial advice was that, in the best interests of the charity it would be wise to negotiate a settlement figure to benefit both parties.
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THE STOREHOUSE
ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 CONTD…..
Financial Position and Reserves
The charity has had another average year financially making a small profit
| Figures for | 2020: | Total receipts | 151,683 |
|---|---|---|---|
| Total payments | 120,365 | ||
| __ | |||
| Increase in funds | 31,318 | ||
| ══════ | |||
| Total Reserves | 53,378 | ||
| ══════ |
The trustees consider that the reserves are adequate to continue the charity's current level of activity.
Risk Management
The trustees have undertaken a review of the major risks to which the charity is exposed, and systems to mitigate those risks have been considered and are adequate.
Trustees
Trustees are nominated and seconded by committee members at the AGM.
Volunteers
The charity continues to rely on the support of volunteers. Up to 100 hours a week are given voluntarily to help run the Foodbank and Charity Shop.
Trustees' Responsibilities
The trustees are required under the Charities Act 2011 to prepare financial statements for each year, selecting an appropriate consistent basis for preparation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Trustees are nominated and seconded by committee members at the AGM.
The report was approved by the trustees on 30[th] September 2021 and signed on their behalf.
MR T C DANT Trustee
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THE STOREHOUSE
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE STOREHOUSE
I report on the accounts of the Trust for the year ended 31 December 2020 which are set out on pages 4 to 6.
Respective responsibilities of trustees and examiner
As the charity’s trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act, whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
which gives us reasonable cause to believe that in any material respect the requirements
-
a) to keep accounting records in accordance with section 130 of the Act; and
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b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act;
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
MRS NICOLA LENTON FCCA Independent Examiner Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
30[th] September 2021
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THE STOREHOUSE
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020
| Receipts Grants, Donations and Offerings: Grants ELDC Covid Grants New Build Offerings Donations Other Income: Loans from members Gift Aid Reclaim Storehouse Sales Ltd receipts CJRS Grants Bank Interest Bins Recharged Salon Rent Total Receipts |
Restricted Unrestricted 2020 2019 £ £ Total Total £ £ - - - 6,000 - 33,950 33,950 - - 1,894 1,894 12,044 - 84,277 84,277 88,751 _ _ _ _ - 120,121 120,121 106,795 ══════ ══════ ══════ ══════ - - - 90 - 5,484 5,484 5,923 - 8,861 8,861 5,629 - 13,370 13,370 - - 6 6 - - 341 341 - - 3,500 3,500 5,500 _ _ _ _ - 31,562 31,562 17,142 ══════ ══════ ══════ ══════ - 151,683 151,683 123,937 ══════ ══════ ══════ ══════ |
|---|---|
_ ═════ _ ═════ ═════ |
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THE STOREHOUSE
RECEIPTS AND PAYMENTS ACCOUNT CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | |||
|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | |
| £ | £ | £ | £ | |
| Payments | ||||
| Direct Charitable Expenditure: | ||||
| Licences | - | 290 | 290 | 158 |
| Donations and Gifts | - | 3,197 | 3,197 | 4,100 |
| Eden project monies returned | - | - | - | 5,000 |
| Wages | - | 50,742 | 50,742 | 42,555 |
| Pension | - | 1,332 | 1,332 | 544 |
| CAP expenses | - | - | - | 700 |
| Light and Heat | - | 4,946 | 4,946 | 7,279 |
| Rent and Rates | - | 1,398 | 1,398 | 4,725 |
| Insurance | - | 4,151 | 4,151 | 4,223 |
| Repairs | - | 10,046 | 10,046 | 1,451 |
| Cleaning | - | 1,721 | 1,721 | - |
| Telephone | - | 839 | 839 | 1,822 |
| Postage and Stationary | - | 86 | 86 | 216 |
| Food Larder | - | 5,853 | 5,853 | 3,032 |
| __ | __ | __ | __ | |
| - | 84,601 | 84,601 | 75,805 | |
| ══════ | ══════ | ══════ | ══════ | |
| Governance Costs: | ||||
| Accountancy | - | - | - | 2,670 |
| PAYE Interest | - | - | - | - |
| Bank Charges | - | 30 | 30 | 403 |
| __ | __ | __ | __ | |
| - | 30 | 30 | 3,073 | |
| ══════ | ══════ | ══════ | ══════ | |
| Other Expenditure: | ||||
| Subscriptions | - | 1,750 | 1,750 | 1,096 |
| Building Conversion | - | 16,448 | 16,448 | 8,045 |
| Mortgage | - | 10,059 | 10,059 | 11,755 |
| Loan repayments | - | 667 | 667 | 3,117 |
| Loan to Members | - | 300 | 300 | - |
| Sundry | - | - | - | 343 |
| Equipment | - | 825 | 825 | 4,378 |
| __ | __ | __ | __ | |
| - | 30,049 | 30,049 | 28,734 | |
| ══════ | ══════ | ══════ | ══════ | |
| Total Payments | - | 114,680 | 114,680 | 107,612 |
| ══════ | ══════ | ══════ | ══════ | |
| NET SURPLUS FOR THE YEAR | - | 37,003 | 37,003 | 16,325 |
| Mortgage Capital Repayments | - | (5,685) | (5,685) | (6,845) |
| __ | __ | __ | __ | |
| Net movement in funds | - | 31,318 | 31,318 | 9,480 |
| Cash funds brought forward | 3,986 | 18,074 | 22,060 | 12,580 |
| __ | __ | __ | __ | |
| Cash funds carried forward | 3,986 | 49,392 | 53,378 | 22,060 |
| ══════ | ══════ | ══════ | ══════ |
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THE STOREHOUSE
STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2020
| 2020 | 2019 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Fixed Assets | ||||
| Freehold property | 328,609 | 328,609 | ||
| Plant & Machinery | 948 | 1,185 | ||
| Computer Equipment | 2,754 | 332,311 | 2,619 | 332,413 |
| __ | __ | |||
| Current Assets | ||||
| Stock | 300 | 300 | ||
| __ | __ | |||
| Debtors Due Within One Year | ||||
| D Jones Loan | - | 360 | ||
| R Bowden Loan | 300 | - | ||
| __ | __ | |||
| 300 | 360 | |||
| __ | __ | |||
| Cash Funds | ||||
| Current Account | 26,255 | 4,428 | ||
| Postal Account | 77 | 76 | ||
| Charity Saver Account | 87 | 87 | ||
| Cash | 240 | 240 | ||
| Restore Account | 17,525 | 6,754 | ||
| Elevate Account | 1,905 | 1,800 | ||
| Building Account | 7,289 | 8,675 | ||
| __ | __ | |||
| 53,378 | 53,978 | 22,060 | 22,720 | |
| __ | __ | |||
| Debtors Due After One Year | ||||
| Storehouse Sales Ltd | 22,693 | 15,833 | ||
| __ | __ | |||
| Total Assets | 408,982 | 370,966 | ||
| ══════ | ══════ | |||
| Creditors Due Within One Year | ||||
| Accountancy fees | 2,569 | 1,400 | ||
| Loan | - | 667 | ||
| Pension | 737 | 217 | ||
| PAYE | 957 | 4,263 | 2,449 | 4,733 |
| __ | __ | |||
| Long Term Liabilities | ||||
| Mortgage | 264,063 | 269,748 | ||
| __ | __ | |||
| Total Liabilities | 268,326 | 274,481 | ||
| ══════ | ══════ |
Approved for and on behalf of the charity on 30[th] September 2021
Mr T C DANT Trustee
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THE STOREHOUSE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. RELATED PARTY TRANSACTIONS
Storehouse Sales Ltd, the trading entity of The Storehouse, donated profits of £11,500 for the year to 31 December 2020. As at the balance sheet date this amount is included within Debtors Due After One Year.
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