COMPANY REGISTRATION NUMBER: 03296566 CHARITY REGISTRATION NUMBER: 01059956
The Wharton Trust
Company Limited by Guarantee Unaudited Financial Statements 31 December 2021
CENSIS
Chartered accountants Exchange Building 66 Church Street Hartlepool TS24 7DN
The Wharton Trust
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities (including income and | |
| expenditure account) | 8 |
| Statement of financial position | 9 |
| Statement of cash flows | 10 |
| Notes to the financial statements | 11 |
The Wharton Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.
Reference and administrative details
Registered charity name The Wharton Trust Charity registration number 01059956 Company registration number 03296566 Principal office and registered The Annexe office Wharton Terrace Hartlepool TS24 8NS The trustees
A Leighton A Callaghan J Pullman T D Sherwood Independent examiner Censis Exchange Building 66 Church Street Hartlepool TS24 7DN
1
The Wharton Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Structure, governance and management
Constitution policies and objectives
The company is registered as a charitable company limited by guarantee and governed by its Memorandum and Articles of Association dated 27 December 1996.
Established in 1990, the aims and objectives of the Wharton Trust Community Centre, known as 'The Annexe', are to help and support local residents of all ages, and to offer facilities for meeting and socialising, education and training, and to assist the unemployed of all eligible ages into work.
Method of appointment or election of Council Management
The management of the company is the responsibility of the Council of Management who are elected and co-opted under the terms of the Articles of Association.
The Council of Management is authorised to appoint new members to fill vacancies arising or as an addition to existing members. The Council members named on page 1 served during the year.
The Council of Management take responsibility for the induction of new Trustee Board members and this induction process can include:
-
provision of written background information about the charity
-
meetings with key and other staff members
-
one to one meetings
-
provision of regular reports on the work of the organisation
Objectives and activities
The relief of poverty and sickness and the advancement of education and the promotion of any other charitable purpose for the benefit of the inhabitants of Dyke House, Jackson and Stranton Wards of Hartlepool.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
2
The Wharton Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Achievements and performance
2021 proved to be one of the most difficult years in the history of The Wharton Trust.
In the midst of Covid19 continuing to impact our ability to deliver the depth and breadth of services we were used to we also lost our longest serving member of staff, Teresa Driver.
The trustees feel it appropriate to use this annual report as a celebration of who she was and what she brought to our lives here at The Annexe.
People chose to see Teresa because she always made time for them and they knew that she would help them find the answer, or if not, she knew someone who could.
Teresa's list of contacts and relationships was huge - she held relationships with people up and down this country and beyond. She had it because she was open and wanted to change things. Teresa had an incredible skill set; she was a finisher. She turned the ideas to make Dyke House that bit better into reality. She would grasp theoretical concepts and understand what they would mean to people in a day to day to way.
Not many people are aware how she was involved in trying change policy and was a go to expert for Youth and Community Department at the University of Sunderland. She was instrumental in bringing human rights to the fore in Hartlepool and trying to create a more effective third sector.
She was perceptive too; she knew who was selfless, who was self-interested, who was a wrong 'un and who she would be able to work with. But to be fair to Teresa she'd work with anybody if the end result was something for local residents - even if she really didn't like them.
She was creative, and we don't mean just in the doodles and drawings and crafty stuff she did; but in how she looked at life - she always brought a different perspective to our discussions and things we would never have considered made the decisions we took better.
And she had an incredible work ethic. Her entire career was built around what others called antisocial hours and in more than a decade working for us, she never complained about it. She went where and when she was needed. BUT Teresa brought more than a skill set.
Her values and her personality were manifested in her profession and work; Teresa was one of the lucky ones who was able to express her values through her work.
Teresa absolutely believed in what she was doing and she cared about it.
Teresa was courageous too.
She had massive amounts of courage standing up and fighting for the rights of the oppressed, even when it was easier to leave it alone; she couldn't.
Domestic violence, antisocial behaviour, evictions, criminality, racism, sexism, homophobia - she hated anything which stopped people achieving their full potential.
But it wasn't that she just hated people being oppressed, she hated it when people wouldn't see what they were capable of.
Yes she would help; she wouldn't see people go without - ever - BUT she would also tell people that
3
The Wharton Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
they didn't need her; they could do this themselves. She wanted people to find their own inner strength and believe in themselves.
She never did it for the glory, she would get cross at being the face of the Annexe; even more when she was put the radio or TV; she was much happier behind the scenes quietly and effectively supporting people to get things done.
Teresa was one of the most forgiving people imaginable. Just about everybody who came through The Annexe doors at some time or another had fallen out with her -
Teresa embodied compassion. She was a shoulder to cry on, somebody to rant at. She felt the pain of others and lightened the load.
For all Teresa worked extensively with adults; her first priority was always young people. For a generation of young people, she was known as Teresa Green;
"NO Teresa Brown, leaves are green" being the response.
Every single one of them believing they were the first person to ever say it to her and Teresa happy to let them think it.
Teresa was never happier than when surround by young people. Her approach looked easy and natural. Teresa had so much love for them; it's not an exaggeration to say Teresa was a mother figure to hundreds of young people growing up in our town. So many with troubled backgrounds, some who with just about everybody else, were nasty and vicious - weren't with her. So many kids with no one else to turn to, turned to Teresa and she made their lives better.
She had endless love.
And in finishing, we think it appropriate to recognise Kayleigh and Michael's grace sharing their mam with rest of us; we are truly grateful that they let her play this role; there are people alive today because they did.
Teresa made life better, she loved her family, she lived her work. She fought for the weak, she gave of herself freely; she was a mother to many of us and a friend to more.
She had hope for a better tomorrow, that the sun would shine and a belief that we could change the world one act of kindness at a time.
We miss her.
4
The Wharton Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Financial review
The Statement of Financial Activities shows a surplus for the year of £38,542; (2020 - £257,725) and the Charity holds reserves of £777,307; (2020 - £738,765). At the end of the year the unrestricted free reserves amounted to £648,929; (2020 - £617,492), those reserves not tied up in fixed assets amounted to a surplus of £50,241; (2020 - £80,515).
The Council of Management recognise the need to work towards building an unrestricted reserve of at least 3 month's running costs.
Reserves Policy and Risk Management
The Council of Management have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems are in place to mitigate our exposure to the major risks. Trustees are actively seeking new sources of funding to continue future activities.
The trustees' annual report and the strategic report were approved on 16 June 2022 and signed on behalf of the board of trustees by:
J Pullman Trustee
5
The Wharton Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Wharton Trust
Year ended 31 December 2021
I report to the trustees on my examination of the financial statements of The Wharton Trust ('the charity') for the year ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors 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 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 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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of 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 financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
6
The Wharton Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Wharton Trust (continued)
Year ended 31 December 2021
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.
Censis Independent Examiner
Exchange Building 66 Church Street Hartlepool TS24 7DN
7
The Wharton Trust
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 December 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 141,554 | 185,887 | 327,441 | 513,909 |
| Charitable activities | 6 | 11,623 | – | 11,623 | 11,230 |
| | | | | ||
| Total income | 153,177 | 185,887 | 339,064 | 525,139 | |
| | | | | ||
| Expenditure | |||||
| Expenditure on charitable activities | 7 | 200,315 | 100,207 | 300,522 | 267,414 |
| | | | | ||
| Total expenditure | 200,315 | 100,207 | 300,522 | 267,414 | |
| | | | | ||
| | | | | ||
| Net income | (47,138) | 85,680 | 38,542 | 257,725 | |
| | | | | ||
| Transfers between funds | 82,988 | (82,988) | – | – | |
| | | | | ||
| Net movement in funds | 35,850 | 2,692 | 38,542 | 257,725 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 617,492 | 121,273 | 738,765 | 481,040 | |
| | | | | ||
| Total funds carried forward | 653,342 | 123,965 | 777,307 | 738,765 | |
| | | | |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 11 to 20 form part of these financial statements.
8
The Wharton Trust
Company Limited by Guarantee
Statement of Financial Position
31 December 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 12 | 603,101 | 536,977 |
| Current assets | |||
| Debtors | 13 | 28,891 | 26,557 |
| Cash at bank and in hand | 151,511 | 180,218 | |
| | | ||
| 180,402 | 206,775 | ||
| Creditors: amounts falling due within one year | 14 | 6,196 | 4,987 |
| | | ||
| Net current assets | 174,206 | 201,788 | |
| | | ||
| Total assets less current liabilities | 777,307 | 738,765 | |
| | | ||
| Net assets | 777,307 | 738,765 | |
| | | ||
| Funds of the charity | |||
| Restricted funds | 123,965 | 121,273 | |
| Unrestricted funds | 653,342 | 617,492 | |
| | | ||
| Total charity funds | 16 | 777,307 | 738,765 |
| | |
For the year ending 31 December 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 16 June 2022, and are signed on behalf of the board by:
J Pullman Trustee
The notes on pages 11 to 20 form part of these financial statements.
9
The Wharton Trust
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 38,542 | 257,725 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 17,860 | 13,165 |
| Changes in: | ||
| Trade and other debtors | (2,334) | (4,318) |
| Trade and other creditors | 1,209 | (6,119) |
| | | |
| Cash generated from operations | 55,277 | 260,453 |
| | | |
| Net cash from operating activities | 55,277 | 260,453 |
| | | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (83,984) | (175,506) |
| | | |
| Net cash used in investing activities | (83,984) | (175,506) |
| | | |
| Net (decrease)/increase in cash and cash equivalents | (28,707) | 84,947 |
| Cash and cash equivalents at beginning of year | 180,218 | 95,271 |
| | | |
| Cash and cash equivalents at end of year | 151,511 | 180,218 |
| | |
The notes on pages 11 to 20 form part of these financial statements.
10
The Wharton Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Annexe, Wharton Terrace, Hartlepool, TS24 8NS.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
11
The Wharton Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
12
The Wharton Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2% straight line Fixtures and fittings - 25% reducing balance
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The Wharton Trust is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
13
The Wharton Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Grants | |||
| Tudor Trust | 2,000 | – | 2,000 |
| Big Local Trust | 54,287 | – | 54,287 |
| Gray TC | 2,000 | – | 2,000 |
| Esmee Fairburn Trust | – | 30,000 | 30,000 |
| Baring Foundation | 20,000 | – | 20,000 |
| Hartlepool Borough Council | 26,191 | – | 26,191 |
| CoOperative UK | 9,994 | – | 9,994 |
| Job Retention Scheme | 20,350 | – | 20,350 |
| Groundwork UK | 1,000 | – | 1,000 |
| Youth CoOp Action | 5,732 | – | 5,732 |
| Power to Change | – | 155,887 | 155,887 |
| | | | |
| 141,554 | 185,887 | 327,441 | |
| | | | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 1,555 | – | 1,555 |
| Councillor Ward Budgets | 290 | – | 290 |
| Grants | |||
| CDCF | – | 5,000 | 5,000 |
| Tudor Trust | 1,978 | 80,000 | 81,978 |
| Tees Valley Community | 500 | – | 500 |
| Early Intervention Grant | 1,334 | – | 1,334 |
| Community Business Fund | – | 75,000 | 75,000 |
| Locality Community Organiser | – | 10,968 | 10,968 |
| Joseph Rowntree Charitable Trust | – | 15,000 | 15,000 |
| Ballinger Charitable Trust | – | 5,000 | 5,000 |
| Empowering places | 6,085 | – | 6,085 |
| CoOperative UK | – | 14,166 | 14,166 |
| Masonic Lodge | 4,500 | – | 4,500 |
| Hospital of God Greatham | 1,500 | – | 1,500 |
| Colonel Cohen Charitable Trust | – | 2,000 | 2,000 |
| Job Retention Scheme | 42,473 | – | 42,473 |
| HBC Business Support Grant | 10,000 | – | 10,000 |
| Youth Investment Fund | 5,402 | – | 5,402 |
| Peoples Postcode Lottery | – | 19,972 | 19,972 |
| Power to Change | – | 211,186 | 211,186 |
| | | | |
| 75,617 | 438,292 | 513,909 | |
| | | |
14
The Wharton Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Room hire | 3,306 | 3,306 | 11,230 | 11,230 |
| Housing rental | 5,580 | 5,580 | – | – |
| Other | 2,737 | 2,737 | – | – |
| | | | | |
| 11,623 | 11,623 | 11,230 | 11,230 | |
| | | | |
7. Expenditure on charitable activities by activity type
| Activities | |||
|---|---|---|---|
| undertaken | Total funds | Total fund | |
| directly | 2021 | 2020 | |
| £ | £ | £ | |
| General Fund | 200,315 | 200,315 | 10,608 |
| Community Organisers | – | – | 10,968 |
| Esmee Fairburn Trust | 22,500 | 22,500 | 24,600 |
| CoOperative UK - Empowering Places | – | – | 14,166 |
| Tudor Trust | – | – | 2,000 |
| Empowering Places | – | – | 9,085 |
| CDCF - Covid | – | – | 5,000 |
| Big Local Delivery | 21,661 | 21,661 | 56,316 |
| Power to Change - Housing | 17,289 | 17,289 | – |
| Power to Change - Empowering | 18,082 | 18,082 | 134,671 |
| Peoples Post Code Lottery | 13,200 | 13,200 | – |
| Red Gap | 7,475 | 7,475 | – |
| | | | |
| 300,522 | 300,522 | 267,414 | |
| | | |
15
The Wharton Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
| 8. | Net income | ||
|---|---|---|---|
| Net income is stated after charging/(crediting): | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 17,860 | 13,165 | |
| | | ||
| 9. | Independent examination fees | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 960 | 1,200 | |
| | | ||
| 10. | Staff costs | ||
| The total staff costs and employee benefits for the reporting period are analysed as | follows: | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Wages and salaries | 146,734 | 138,456 | |
| Social security costs | 3,241 | 7,257 | |
| Employer contributions to pension plans | 6,600 | 6,972 | |
| | | ||
| 156,575 | 152,685 | ||
| | |
16
The Wharton Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
10. Staff costs (continued)
The average head count of employees during the year was 9 (2020: 10). The average number of full-time equivalent employees during the year is analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Charitable activities | 8 | 8 |
| Management | 1 | 2 |
| | | |
| 9 | 10 | |
| | |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees
12. Tangible fixed assets
| Freehold | Fixtures and | ||
|---|---|---|---|
| property | fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 January 2021 | 608,549 | 69,994 | 678,543 |
| Additions | 79,083 | 4,901 | 83,984 |
| | | | |
| At 31 December 2021 | 687,632 | 74,895 | 762,527 |
| | | | |
| Depreciation | |||
| At 1 January 2021 | 78,274 | 63,292 | 141,566 |
| Charge for the year | 13,491 | 4,369 | 17,860 |
| | | | |
| At 31 December 2021 | 91,765 | 67,661 | 159,426 |
| | | | |
| Carrying amount | |||
| At 31 December 2021 | 595,867 | 7,234 | 603,101 |
| | | | |
| At 31 December 2020 | 530,275 | 6,702 | 536,977 |
| | | | |
| Debtors | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Trade debtors | 27,334 | 25,950 | |
| Other debtors | 1,557 | 607 | |
| | | ||
| 28,891 | 26,557 | ||
| | |
13. Debtors
17
The Wharton Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
14. Creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 1,864 | 728 |
| Accruals and deferred income | 960 | 960 |
| Social security and other taxes | 2,620 | 2,752 |
| Other creditors | 752 | 547 |
| | | |
| 6,196 | 4,987 | |
| | |
15. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £6,600 (2020: £6,972).
16. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At 1 January | 31 | December | |||
| 2021 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| General fund | 87,217 | 153,177 | (186,824) | 3,905 | 57,475 |
| Freehold Property Fund | 530,275 | – | (13,491) | 79,083 | 595,867 |
| | | | | | |
| 617,492 | 153,177 | (200,315) | 82,988 | 653,342 | |
| | | | | | |
| At | |||||
| At 1 January | 31 | December | |||
| 2020 | Income | Expenditure | Transfers | 2020 | |
| £ | £ | £ | £ | £ | |
| General fund | 16,278 | 86,847 | (10,608) | (5,300) | 87,217 |
| Freehold Property Fund | – | – | (9,085) | 539,360 | 530,275 |
| | | | | | |
| 16,278 | 86,847 | (19,693) | 534,060 | 617,492 | |
| | | | | |
18
The Wharton Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
16. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At 1 January | 31 | December | |||
| 2021 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| Power to Change | 6,301 | 72,887 | (18,082) | – | 61,106 |
| Big Local Delivery | – | – | (21,661) | – | (21,661) |
| Power to Change - | |||||
| Housing | – | 83,000 | (17,289) | (21,904) | 43,807 |
| Joseph Rowntree | |||||
| Foundation | 15,000 | – | – | – | 15,000 |
| Ballinger Charitable | |||||
| Trust | 5,000 | – | – | – | 5,000 |
| Esmee Fairburn Trust | – | 30,000 | (22,500) | – | 7,500 |
| Community Business | |||||
| Fund | 75,000 | – | – | (57,179) | 17,821 |
| Peoples Postcode | |||||
| Lottery | 19,972 | – | (13,200) | – | 6,772 |
| Red Gap | – | – | (7,475) | (3,905) | (11,380) |
| | | | | | |
| 121,273 | 185,887 | (100,207) | (82,988) | 123,965 | |
| | | | | | |
| At | |||||
| At 1 January | 31 | December | |||
| 2020 | Income | Expenditure | Transfers | 2020 | |
| £ | £ | £ | £ | £ | |
| Power to Change | 19,992 | 211,186 | (134,671) | (90,206) | 6,301 |
| Big Local Delivery | 56,316 | – | (56,316) | – | – |
| Power to Change - | |||||
| Housing | – | 14,166 | (14,166) | – | – |
| Building Rennovation | 363,854 | – | – | (363,854) | – |
| Tudor Trust | – | 82,000 | (2,000) | (80,000) | – |
| Community Organisers | – | 10,968 | (10,968) | – | – |
| Joseph Rowntree | |||||
| Foundation | – | 15,000 | – | – | 15,000 |
| Ballinger Charitable | |||||
| Trust | – | 5,000 | – | – | 5,000 |
| Esmee Fairburn Trust | 24,600 | – | (24,600) | – | – |
| CDCF - Covid | – | 5,000 | (5,000) | – | – |
| Community Business | |||||
| Fund | – | 75,000 | – | – | 75,000 |
| Peoples Postcode | |||||
| Lottery | – | 19,972 | – | – | 19,972 |
| Red Gap | – | – | – | – | – |
| | | | | | |
| 464,762 | 438,292 | (247,721) | (534,060) | 121,273 | |
| | | | | |
19
The Wharton Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
17. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 603,101 | – | 603,101 |
| Current assets | 56,437 | 123,965 | 180,402 |
| Creditors less than 1 year | (6,196) | – | (6,196) |
| | | | |
| Net assets | 653,342 | 123,965 | 777,307 |
| | | | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Tangible fixed assets | 536,977 | – | 536,977 |
| Current assets | 85,502 | 121,273 | 206,775 |
| Creditors less than 1 year | (4,987) | – | (4,987) |
| | | | |
| Net assets | 617,492 | 121,273 | 738,765 |
| | | | |
| Analysis of changes in net debt | |||
| At | |||
| At 1 Jan 2021 | Cash flows | 31 Dec 2021 | |
| £ | £ | £ | |
| Cash at bank and in hand | 180,218 | (28,707) | 151,511 |
| | | |
18. Analysis of changes in net debt
20