Charity number: 1061402
SOLACE COMMUNITY TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
SOLACE COMMUNITY TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 18 |
SOLACE COMMUNITY TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2021
Trustees
Father David Gibbons, Trustee Ruth Pallister, Trustee Victor Harvey, Trustee Anne Scripture, Trustee Stephen Joseph Walsh, Trustee (appointed 18 January 2021)
Charity registered number
1061402
Principal office
Star House, Star Hill Road, Dunton Green, Sevenoaks, Kent, TN14 6HA
Accountants
Crowe U.K. LLP, Riverside House, 40-46 High Street, Maidstone, Kent, ME14 1JH
Page 1
SOLACE COMMUNITY TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2021
The Trustees present their annual report together with the financial statements of the Solace Community Trust for the 6 April 2020 to 5 April 2021.
The Trustees confirm that the Annual Report and financial statements of the Charity will comply with the current statutory requirements, the requirements of the Charity'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 or Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities
a. Policies and objectives
The Trustees shall hold the Trust Fund and its income upon trust to apply them for the advancement of the Christian Religion by setting up and assisting small prayer groups for mutual support, prayer and fellowship of mothers, fathers and children. Such prayer groups, once established, shall be known respectively as 'Mothers Prayers', 'Fathers Prayers' and 'Children of Faith'. During 2017, responsibility for 'Fathers Prayers' transferred to the Netherlands. It is no longer a part of the Solace Community Trust.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The charity's strategies for achieving its objectives are the continued assistance of new, and the support of existing prayer groups by:
a) the publication and supply of printed and recorded materials to women interested in the ministry; b) holding conferences and training sessions for prayer group leaders and members.
c. Activities undertaken to achieve objectives
Support has continued to the many hundreds of prayer groups around the U.K. and through overseas affiliated groups in countries world wide, enabling the charity to achieve its objectives.
d. Volunteers
The Trustees wish to express their gratitude for the dedication and commitment of the Charity's many volunteers without whom the Charity would be unable to provide help and support to the many people who receive solace from their membership of the prayer groups.
Page 2
SOLACE COMMUNITY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
Objectives and activities (continued)
e. Main activities undertaken to further the Charity's purposes for the public benefit
When considering the charity’s activities, the Trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.
The public interest benefit is provided by the prayer groups being a place of solace and support for mothers through prayer and fellowship. Many mothers feel isolated and face increasing pressures on them and their families. Mothers Prayers provides an opportunity for them to share the impact of these pressures, if they wish, and are comforted in the knowledge that they are part of a network of the united prayers of mothers around the world.
Activity throughout the last year was affected by the restrictions imposed as a result of the COVID-19 pandemic. In particular, there was little in the way of conferences or in person meetings; although it was possible for the 25th anniversary of the founding of the Mothers Prayers movement to be marked by a celebration Mass in Westminster Cathedral in November 2020, at which the principal celebrant was Cardinal Vincent Nichols.
A new booklet, "A Prayer Book for Mothers", was prepared to commemorate the 25th anniversary.
To strengthen the international network, work commenced to divide the world into regions, with Assistant Principal Coordinators being appointed to support different language groups around the world.
f. Fundraising Practices
The Charity does not actively fundraise, the vast majority of the Trust's income coming directly from donations.
Achievements and performance
a. Main achievements of the Charity
Since the acquisition of Star House in 2002, the Charity has consolidated its activities and the trustees consider the results for the year to be satisfactory. The trustees consider the Charity to have met its objectives for the year.
2020 saw the 25th anniversary of the founding of the Mothers Prayers movement. Cardinal Vincent Nichols was the principal celebrant at a celebration Mass in Westminster Cathedral in November. This was an exclusive ‘on line’ broadcast to many hundreds of Mothers Prayers group members around the world.
Despite the COVID-19 restrictions, new groups were established in various places around the world.
b. Future Developments
The Charity's plans for the future are to continue its activities of setting up and assisting small prayer groups for mothers and running conferences, retreats and training courses.
Page 3
SOLACE COMMUNITY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.
During the period of the COVID-19 pandemic, the Trustees have reviewed the going concern status of the charity and the impact the pandemic has had. The charity's regular income, which is from donations, would seem to be largely unaffected by the pandemic. As a non-grant making charity, the Trustees have the ability to flex the charity's expenditure to track any variation in income.
During the pandemic, regular physical prayer meetings have been suspended until such time they are considered to safe, these have been replaced by virtual meetings, telephone conferences and synchronised individual prayer, thus enabling the charity to continue to reach its beneficiaries and, in fact, reaching new groups as a result of the change of methods. The charity is still seeing the setting up of new groups both in the UK and abroad.
The Trustees are confident that the charity has sufficient funds and resources to enable it to meet its objects and financial requirements. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
Charity commission guidance defines reserves as income that becomes available to the charity and is to be expended at the Trustees’ discretion in furtherance of any of the charity’s objects, but is not yet spent, committed or designated.
The Charity requires sufficient liquid reserves in order to be able to maintain its properties and carry out its activities.
At the balance sheet date, the Charity’s general reserves stood at £929,483 (2020 - £891,312). Included within this general reserve are properties and fixed assets with a value of £872,433 (2020 - £876,468). The Charity therefore regards its free reserves to stand at £57,050 (2020 - £14,844).
The Charity's reserves policy is to keep £10,000 of free reserves available at any time.
The Trustees confirm that the charitable company is exempt from audit.
c. Principal risks and uncertainties
The Trustees 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 the systems and procedures are in place to mitigate their exposure to the major risks.
All risks are considered by the Trustees and staff on a regular basis and efforts are made to mitigate any risks where possible.
Page 4
SOLACE COMMUNITY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
d. Financial risk management objectives and policies
The Trustees have a risk management strategy which comprises an annual review of the principal risks and uncertainties that the Charity faces and the establishment of policies, systems and procedures to mitigate these risks.
Structure, governance and management
a. Constitution
Solace Community Trust is a registered charity, number 1061402, and is constituted under a Trust deed.
It is also known as 'Mothers Prayers', and 'Children of Faith'. During 2017, responsibility for 'Fathers Prayers' transferred to the Netherlands. It is no longer a part of the Solace Community Trust.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Organisational structure and decision-making policies
The Charity is run directly by the trustees, supported by a number of volunteers with a day to day involvement in its activities, and employs no staff. The Trustees consider the Charity small enough for this to be the most effective method of governance.
d. Policies adopted for the induction and training of Trustees
The Charity is relying upon the guidance issued by the Charities Commission in relation to the induction and training of Trustees.
e. Trustees
During the year, the Charity was administered by a board of eight unpaid trustees, three of whom resigned during the period:
Father David Gibbons Ruth Pallister Victor Harvey Anne Scripture Stephen Joseph Walsh (appointed 18 January 2021) Stephen Wymer (resigned 22 June 2020) Carolyn Hart (resigned 23 October 2020) Jim Hart (resigned 23 October 2020)
Page 5
SOLACE COMMUNITY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
Structure, governance and management (continued)
f. Principal Office
The Solace Community Trust's principal office is at:
Star House Star Hill Road Dunton Green Sevenoaks Kent TN14 6HA
g. The Governing Document
The constitution of the Charity is set out in the Deed of Trust dated 1 May 1996 as amended on 10 January 1997 and 23 May 2001.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Fr. David Gibbons
Date: 03/02/2022
Page 6
SOLACE COMMUNITY TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2021
Independent Examiner's Report to the Trustees of Solace Community Trust ('the Charity')
I report to the trustees on my examination of the accounts of Solace Community Trust for the year ended 5 April 2021 which are set out on pages 8 to 18.
This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity’s members as a body and the charity’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and Basis of Report
As the charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable 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 confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Signed: Dated: 3rd February 2022 Crowe U.K. LLP Chartered Accountants Riverside House 40-46 High Street Maidstone Kent ME14 1JH
Page 7
SOLACE COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 65,220 65,220 27,049 27,049 38,171 891,312 38,171 929,483 |
Total funds 2021 £ 65,220 65,220 27,049 27,049 38,171 891,312 38,171 929,483 |
Total funds 2020 £ 48,882 48,882 49,910 49,910 (1,028) 892,340 (1,028) 891,312 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 18 form part of these financial statements.
Page 8
SOLACE COMMUNITY TRUST
BALANCE SHEET AS AT 5 APRIL 2021
| 2021 Note £ Fixed assets Tangible assets 8 872,433 872,433 Current assets Debtors 9 139 - Cash at bank and in hand 63,264 24,922 63,403 24,922 Creditors: amounts falling due within one year 10 (6,353) (10,078) Net current assets 57,050 Total assets less current liabilities 929,483 Net assets excluding pension asset 929,483 Total net assets 929,483 Charity funds Restricted funds 12 - Unrestricted funds 12 929,483 Total funds 929,483 The financial statements were approved and authorised for issue by the _______and signed on their behalf by: 03/02/2022 |
2020 £ 876,468 876,468 14,844 891,312 891,312 891,312 - 891,312 891,312 Trustees on |
|---|---|
Fr. David Gibbons
The notes on pages 10 to 18 form part of these financial statements.
Page 9
SOLACE COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
1. General information
The charity is a registered charity, number 1061402.
The Solace Community Trust's principal office is at:
Star House Star Hill Road Dunton Green Sevenoaks Kent TN14 6HA
The principal activity of the charity is for the advancement of the Christian Religion by setting up and assisting small prayer groups for mutual support, prayer and fellowship of mothers, fathers and children.
Page 10
SOLACE COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Solace Community Trust 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.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.
During the period of the COVID-19 pandemic, the Trustees have reviewed the going concern status of the charity and the impact the pandemic has had. The charity's regular income, which is from donations, would seem to be largely unaffected by the pandemic. As a non-grant making charity, the Trustees have the ability to flex the charity's expenditure to track any variation in income.
Regular physical prayer meetings have been suspended until such time they are considered to safe, these have been replaced by virtual meetings, telephone conferences and synchronised individual prayer, thus enabling the charity to continue to reach its beneficiaries and, in fact, reaching new groups as a result of the change of methods.
The Trustees are confident that the charity has sufficient funds and resources to enable it to meet its objects and financial requirements. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Page 11
SOLACE COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
2. Accounting policies (continued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer 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 of 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 which 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 allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of financial activities.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £1 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
- Buildings Straight line over 100 years - Fixtures & Fittings 50% straight line - Computer equipment 50% straight line
Buildings are depreciated over 100 years. The Trustees believe that, with suitable maintenance, the building, which is over 200 years old in parts with later additions, will be serviceable for at least another 100 years from the date of signing of this report. Land is not depreciated. The Trustees have estimated the proportion of the land as part of the total cost of the land and buildings based on their best estimate.
Page 12
SOLACE COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
2. Accounting policies (continued)
2.6 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.
2.7 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.
2.8 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 at the amount that the Charity 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.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
3. Voluntary Income
| Unrestricted funds 2021 £ Donations, gifts and unrestricted grants 65,220 Unrestricted funds 2020 £ Donations, gifts and unrestricted grants 48,882 |
Total funds 2021 £ 65,220 |
|---|---|
| Total funds 2020 £ 48,882 |
Page 13
SOLACE COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
4. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2021 £ Provision of small prayer groups for mothers 27,049 Unrestricted funds 2020 £ Provision of small prayer groups for mothers 49,910 Analysis of expenditure by activities Charitable activities 2021 £ Provision of small prayer groups for mothers 27,049 Activities undertaken directly 2020 £ Provision of small prayer groups for mothers 49,910 |
Total funds 2021 £ 27,049 |
|---|---|
| Total funds 2020 £ 49,910 |
|
| Total funds 2021 £ 27,049 |
|
| Total funds 2020 £ 49,910 |
5. Analysis of expenditure by activities
Page 14
SOLACE COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
6. Independent examiner's remuneration
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 1,040 | 1,000 |
| Fees payable to the Charity's independent examiner in respect of: | ||
| All other services not included above | 832 | 800 |
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .
During the year ended 5 April 2021, no Trustee expenses have been incurred (2020 - £NIL) .
8. Tangible fixed assets
| Cost or valuation At 6 April 2020 At 5 April 2021 Depreciation At 6 April 2020 Charge for the year At 5 April 2021 Net book value At 5 April 2021 At 5 April 2020 |
Freehold property £ 884,096 884,096 7,775 3,888 11,663 872,433 876,321 |
Fixtures and fittings £ 330 330 330 - 330 - - |
Office equipment £ 2,409 2,409 2,262 147 2,409 - 147 |
Total £ 886,835 |
|---|---|---|---|---|
| 886,835 | ||||
| 10,367 4,035 |
||||
| 14,402 | ||||
| 872,433 | ||||
| 876,468 |
Page 15
SOLACE COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
9. Debtors
| Due within one year Prepayments and accrued income |
2021 £ 139 139 |
2020 £ - |
|---|---|---|
| - |
10. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income |
2021 £ 4,849 1,504 6,353 |
2020 £ 7,786 2,292 |
|---|---|---|
| 10,078 |
11. Financial instruments
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets | 63,264 | 24,922 |
Financial assets measured at amortised cost comprise cash at bank.
Page 16
SOLACE COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
12. Statement of funds
| Statement of funds - current year Unrestricted funds General Funds Statement of funds - prior year Unrestricted funds General Funds Summary of funds Summary of funds - current year General funds Summary of funds - prior year General funds |
Balance at 6 April 2020 £ 891,312 Balance at 6 April 2019 £ 892,340 Balance at 6 April 2020 £ 891,312 Balance at 6 April 2019 £ 892,340 |
Income £ 65,220 Income £ 48,882 Income £ 65,220 Income £ 48,882 |
Expenditure £ (27,049) Expenditure £ (49,910) Expenditure £ (27,049) Expenditure £ (49,910) |
Balance at 5 April 2021 £ 929,483 |
|---|---|---|---|---|
| Balance at 5 April 2020 £ 891,312 |
||||
| Balance at 5 April 2021 £ 929,483 |
||||
| Balance at 5 April 2020 £ 891,312 |
13. Summary of funds
Page 17
SOLACE COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2021 £ Tangible fixed assets 872,433 Current assets 63,403 Creditors due within one year (6,353) Total 929,483 |
Total funds 2021 £ 872,433 63,403 (6,353) 929,483 |
|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2020 £ 876,468 24,922 (10,078) 891,312 |
Total funds 2020 £ 876,468 24,922 (10,078) 891,312 |
|---|---|---|
Page 18