Charity registration number: 1065656 

## Minsthorpe Charitable Trust 

Annual Report and Financial Statements for the Year Ended 30 September 2020 



## Minsthorpe Charitable Trust 

## Contents 

|Trustees' Report|1 to 5|
|---|---|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 21|





## Minsthorpe Charitable Trust 

## Trustees' Report 

The trustees present the annual report together with the financial statements of the charity for the year ended 30 September 2020. 

## Objectives and activities 

## Objects and aims 

The trust was established to provide funds for the advancement of lifelong education of the pupils of Minsthorpe Academy Trust and the community that it serves and to provide or assist in the provision of such facilities or items (not provided from statutory funds) as the trustees shall in consultation with the Governors and Trustees of the Academy Trust from time to time determine. 

The Trust's main objective for the year was the continuing development of its childcare nursery services. 

This objective was met by: 

Reviewing the fees charged for providing nursery care to ensure they remain competative. 

Ensuring all local authority grants were claimed promptly to assist with covering the day to day running costs of its operations. 

Ensuring donations were received from the Trust's wholly - owned subsidiary company, T & C C Limited in a tax efficient manner. 

## Public benefit 

The principal public benefit delivered by the Charity is the provision of high - quality nursery care and education to the local children of the community it serves. 

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales in determining the activities undertaken by the charity. Throughout this Annual Report the Trustees seek to demonstrate that the Charity's aims and objectives are for the public benefit. 

## Grant making policies 

Grants are made at the discretion of the Trustees. 

## Achievements and performance 

The take up of nursery places was significantly affected by the Covid 19 pandemic from March 2020, resulting in the average take up of nursery places falling by 27%, from 71% of capacity in 2019 to 44% of capacity in 2020. 

Page 1 



## Minsthorpe Charitable Trust 

## Trustees' Report 

## Financial review 

The results for the year are shown in the Statement of Financial Activities on page 7 and were severely impacted by the Coronavirus pandemic from March 2020 onwards as detailed below. 

## The total income for the charity in the year was £383,627 (2019 - £444,036). 

The majority of the trust's income is obtained from fees charged for the provision of nursery care and this amounted to £205,486 (2019 - £303,445). However, the proportion of fee income received fell from 68% of total income in 2019 to 53% of total income in 2020 due to a significant reduction in the total number of children attending the nursery from March 2020 onwards due to the Coronavirus pandemic.The trust also received income of £134,951 from Wakefield Metropolitan District Council in the form of grants, the use of which is restricted to particular purposes and are therefore shown as restricted funds in the Statement of Financial Activities (2019 - ££138,244). The trust also received grant income of £41,126 under the UK government's Coronavirus Job Retention Scheme covering 80% of the cost of furloughed employees during the period April to July 2020. 

The total expenditure for the charity in the year was £454,244 (2019 - £498,514). 

Staff costs represent 85% of total expenditure (2019 - 85%) and decreased by £41,081 from £428,646 in 2019 to £387,565 in 2020. 

The decrease is attributable to; a reduction in employees numbers in response to the Coronavirus pandemic, savings made on the replacement of the children's day centre manager and last year redundancy payments of £13,841 were also made. 

Support and governance costs amounted to £66,679 in 2020 compared to £69,868 in 2019, a decrease of £3,189 (4.5%). 

Expenditure continues to be highly managed and remains focussed on delivering the charity's charitable objectives. 

The restricted fund balance has been reduced by the depreciation charged on the assets financed by restricted grants and grants received from Wakefield Metropolitan district Council in support of the nursery care activities provided by the charity. 

During the year total expenditure exceeded total income by £70,617 (2019 - £54,478). The short fall was covered by combined restricted and unrestricted reserves brought forward of £384,498. 

## Policy on reserves 

The charity had total reserves of £313,881 (2019 - £384,498) comprising of; unrestricted reserves of £242,425 (2019 - £292,594) and restricted reserves of £71,456 (2019 - £91,904) as at 30 September 2020. 

The Trustees review the levels of reserves held annually. 

It is the Trustees objectives: 

To carry forward an amount to cover its current and future operating activities ensuring the nursery is able to cover its costs. An amount to cover three months of pre - Covid 19 running costs is considered adequate for this purpose and is estimated to be £125,000. 

To build up funds to resurface the all - weather sports pitch and to assist with funding the replacement of the children's nursery centre. 

## Investment policy and objectives 

The trust has no investments other than money held in UK bank accounts. 

Page 2 



## Minsthorpe Charitable Trust 

## Trustees' Report 

## Structure, governance and management 

## Nature of governing document 

The trust is an unincorporated trust constituted under a declaration of trust dated 10 October 1997 as amended on 7 November 2003 and 13 August 2015. 

## Recruitment and appointment of trustees 

The declaration of trust refers to the following basis for the appointment of new trustees: 

The body of trustees shall consist when complete of three persons being ex officio trustees. 

A trustee shall cease to be one immediately if they give written notice unless this leaves the number of trustees below the minimum number of two. 

## Induction and training of trustees 

The induction process for new trustees comprises meeting with existing trustees where they are provided with; a brief history of the Trust, copies of the trustee board minutes and Annual Report and Accounts for the previous year together with a copy of the Declaration of Trust document and the Charity Commission booklet "The Essential Trustee: What You Need to Know", to enable them to perform their duties and make informed decisions regarding the charity. 

## Arrangements for setting key management personnel remuneration 

The Trustees do not receive any payments in respect of their Office and no reimbursement of expenses were paid to the Trustees in either the current year or prior year. 

The Charity considers that its key management personnel comprises the Trustees and Children's Nursery Centre Manager. The Trustees did not receive any employment benefits in either the current year or the prior year. The total employment benefits of key management personnel in the year were £37,638 (2019: £41,882) and comprised salary of £32,214 (2019: £33,487), Employers National Insurance Contributions of £3,238 (2019: £3,442) and Pension contributions of £4,840 (2019: £4,953). 

Remuneration is reviewed annually and annual pay changes are approved by the Trustees and notified to Minsthorpe Academy Trust as the Academy Trust operates as a staff supply agency for the charity and its trading subsidiary company, T & C C Limited. 

## Organisational structure 

The trustees are responsible for setting general policy, approving and adopting an annual plan and budget and for monitoring spending. 

The Trust built a dedicated high quality children's nursery centre in 2004 in order to provide quality, affordable, accessible childcare for local children aged 0 - 5 years old. The centre trades as "Happy Days children Centre". 

The charity also has a wholly - owned non - charitable subsidiary, T & C C Limited. The profits of this company, which operates a sports and fitness facility are passed to the charity under the gift - aid regime as decided by the Board of Trustees. 

The day to day running of the the children's nursery centre and and sports and fitness centres are delegated to the centre managers. The managers meet one of the trustees once every half term to discuss strategic and operational responsibilities. All strategic decisions delegated to centre managers are approved and ratified by the trustees. 

Page 3 



## Minsthorpe Charitable Trust 

## Trustees' Report 

## Relationships with related parties 

## Minsthorpe Academy Trust 

Mr M. Gilmore a trustee of the charity is also a trustee and director of Minsthorpe Academy Trust. 

## Major risks and management of those risks 

## Risk Management 

The Trustees consider and access the major risks to which the charity is exposed. This will include strategic, financial, operational and reputational risks. the Trustees implement policies and procedures in order to mitigate or minimise these risks and also monitor the effectiveness of its risk management processes. 

## Reference and Administrative Details 

Trustees M.R. Gilmore G.M. Earith J Morgan Senior Management Team M.R. Gilmore, Trustee T. Broughen, Children's Day Centre Manager G.M. Earith, Trustee J. Morgan, Trustee N. Heppenstall, Children's Day Centre Manager Principal Office Minsthorpe Lane South Elmsall Pontefract West Yorkshire WF9 2UJ Charity Registration Number 1065656 Independent Examiner John Monaghan Independent Examiner Child & Co Chartered Accountants 20 Kirkgate Sherburn in Elmet North Yorkshire LS25 6BL 

Page 4 



## Minsthorpe Charitable Trust 

## Trustees' Report 

## Statement of Trustees' Responsibilities 

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. 

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity 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 in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- 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 proper accounting records that 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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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. 

The annual report was approved by the trustees of the charity on 14 April 2021 and signed on its behalf by: 

......................................... M.R. Gilmore Trustee 

Page 5 



## Minsthorpe Charitable Trust 

## Independent Examiner's Report to the trustees of Minsthorpe Charitable Trust 

I report on the accounts of the charity for the year ended 30 September 2020 which are set out on pages 7 to 21. 

## Respective responsibilities of trustees and examiner 

As the charity’s trustees of Minsthorpe Charitable Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). 

I report in respect of my examination of the Minsthorpe Charitable Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## Basis of independent examiner’s report 

Since Minsthorpe Charitable Trust'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 ICAEW, which is one of the listed bodies. 

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: 

1. accounting records were not kept in respect of Minsthorpe Charitable Trust as required by section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting 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. 

...................................... John Monaghan Independent Examiner ICAEW 

Child & Co Chartered Accountants 20 Kirkgate Sherburn in Elmet North Yorkshire LS25 6BL 

14 April 2021 

Page 6 



## Minsthorpe Charitable Trust 

## Statement of Financial Activities for the Year Ended 30 September 2020 

|||Unrestricted|Unrestricted||Restricted|||Total|
|---|---|---|---|---|---|---|---|---|
|||funds|||funds|||2020|
||Note|£|||£|||£|
|Income and Endowments from:|||||||||
|Donations and legacies||41,126|||134,951|||176,077|
|Charitable activities||205,486|||-|||205,486|
|Other trading activities||2,064|||-|||2,064|
|Total income||248,676|||134,951|||383,627|
|Expenditure on:|||||||||
|Charitable activities||(454,244)|||-|||(454,244)|
|Total expenditure||(454,244)|||-|||(454,244)|
|Net (expenditure)/income||(205,568)|||134,951|||(70,617)|
|Gross transfers between funds||155,399|||(155,399)|||-|
|Net movement in funds||(50,169)|||(20,448)|||(70,617)|
|Reconciliation of funds|||||||||
|Total funds brought forward||292,594|||91,904|||384,498|
|Total funds carried forward|19|242,425|||71,456|||313,881|
|||Unrestricted|||Restricted|||Total|
|||funds|||funds|||2019|
||Note|£|||£|||£|
|Income and Endowments from:|||||||||
|Donations and legacies||-|||138,244|||138,244|
|Charitable activities||303,445|||-|||303,445|
|Other trading activities||2,342|||-|||2,342|
|Investment income|5|5|||-|||5|
|Total income||305,792|||138,244|||444,036|
|Expenditure on:|||||||||
|Charitable activities||(498,514)|||-|||(498,514)|
|Total expenditure||(498,514)|||-|||(498,514)|
|Net (expenditure)/income||(192,722)|||138,244|||(54,478)|
|Gross transfers between funds||158,692|||(158,692)|||-|
|Net movement in funds||(34,030)|||(20,448)|||(54,478)|
|Reconciliation of funds|||||||||
|Total funds brought forward||326,625|||112,352|||438,977|
|Total funds carried forward|19|292,595|||91,904|||384,499|



All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 19. 

The notes on pages 9 to 21 form an integral part of these financial statements. Page 7 



## Minsthorpe Charitable Trust 

## (Registration number: 1065656) Balance Sheet as at 30 September 2020 

|||2020||2019|
|---|---|---|---|---|
||Note|£||£|
|Fixed assets|||||
|Tangible assets|13|75,395||96,922|
|Investments|14|100||100|
|||75,495||97,022|
|Current assets|||||
|Debtors|15|12,207||4,609|
|Cash at bank and in hand|16|237,854||291,684|
|||250,061||296,293|
|Creditors: Amounts falling due within one year|17|(11,675)||(8,816)|
|Net current assets||238,386||287,477|
|Net assets||313,881||384,499|
|Funds of the charity:|||||
|Restricted income funds|||||
|Restricted funds|19|71,456||91,904|
|Unrestricted income funds|||||
|Unrestricted funds||242,425||292,595|
|Total funds|19|313,881||384,499|



The financial statements on pages 7 to 21 were approved by the trustees, and authorised for issue on 14 April 2021 and signed on their behalf by: 

......................................... M.R. Gilmore Trustee 

The notes on pages 9 to 21 form an integral part of these financial statements. Page 8 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## 1 Accounting policies 

## Statement of compliance 

The trust constitutes a public benefit entity as defined by FRS 102. 

## Basis of preparation 

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these financial statements. 

The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. 

## Departures from the SORP 

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 financial statements in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 

## Exemption from preparing a cash flow statement 

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. 

## Going concern 

The financial statements have been prepared on a going concern basis. 

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. 

## Exemption from preparing group accounts 

The Charity has taken advantage of the exemption available under the Charities Act 2011 not to prepare consolidated (group) accounts on the grounds that the gross income of the group is below the threshold set by the Act. 

## Judgements 

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts reognised in those financial statements. The following judgement and estimate is considered by the Trustees to have the most significant effect on amounts recognised in the Financial Statements. Useful Economic Life: The annual depreciation charge for property, plant and machinery is sensitive to change in estimated useful economic lives and residual value of assets. These are reassessed annually and amended where necessary to reflect current circumstances. 

Page 9 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## Income and endowments 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## Donations and legacies 

Grants received from Wakefield Metropolitan District Council for the year are shown as restricted funds in the Statement of Financial Activities. Grants received from the UK government in respect of the Coronavirus Job Retention Scheme are shown as unrestricted funds in the Statement of Financial Activities. 

## Deferred income 

Fees received in advance of the child care services to be provided are deferred and included in creditors. 

## Other trading activities 

Income from fund raising activities is recognised in the period it is receivable and shown as unrestricted funds in the Statement of Financial Activities. 

## Charitable activities 

Fees received from the provision of child care services is recognised in the period it is receivable and shown as unrestricted funds in the Statement of Financial Activities. 

## 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. All expenditure is accounted for on an accruals basis and is classified by type in the Statement of Financial Activities. 

## Charitable activities 

These are costs incurred on the charity's child care operations, including support costs and costs relating to the governance of the charity. 

## Grant expenditure 

Discretionary grants are paid on an ad-hoc basis to Minsthorpe Academy Trust. 

Grants payable are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. 

Liabilities relating to grants payable are recognised once the Charity is irrecoverably committed to the provision of the grant. 

## Governance costs 

Governance costs are those incurred in connection with the preparation and independent examination of the Charity's statutory accounts and its compliance with constitutional and statutory requirements. 

## Irrecoverable VAT 

Irrecoverable VAT is charged against the category of resources expended for which it was incurred. 

Page 10 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## Taxation 

The Trustees consider that the exemption from taxation set out in the Income Tax Act 2007 and the Taxation of Chargeable Gains Act 1992 are met and, therefore, no provision is made for taxation. 

## Tangible fixed assets 

Assets costing £1,000 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment. 

Where tangible fixed assets have been acquired with the aid of specific grants, either from the government or from the private sector, they are included in the Balance Sheet at cost and depreciated over their expected useful economic life. The related grants are credited to a restricted fund in the Statement of Financial Activities and carried forward in the Balance Sheet. Depreciation on such assets is charged to the restricted fund in the statement of Financial Activities so as to reduce the fund over the useful economic life of the related asset on a basis consistent with the charity's depreciation policy. 

## Depreciation and amortisation 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 

Asset class Depreciation method and rate Buildings 5% straight line basis Plant and equipment 20% straight line basis 

## Fixed asset investments 

Investment in subsidiaries are accounted for at cost less impairment. 

## Fund structure 

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity and which have not been designated for other purposes. 

Grant funds received from Wakefield Metropolitan District Council are initially shown as resticted funds in the Statement of financial Activities before being transferred to unrestricted funds to support the expenditure incurred on child care services provided by the charity . 

## Hire purchase and finance leases 

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease term. 

Page 11 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## Financial instruments 

## Classification 

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows: 

Financial assets - trade debtors are basic financial instruments and are debt instruments measured at cost. 

Cash at bank - is classified as a basic financial instrument and is measured at face value. 

Financial liabilities - accruals are financial instruments and are measured at cost. Deferred income is not deemed to be a financial liability, as cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. 

## 2 Income from donations and legacies 

||Unrestricted|||||
|---|---|---|---|---|---|
||funds||Restricted||Total|
||General||funds||funds|
||£||£||£|
|Grants, including capital grants;||||||
|Government grants|41,126||134,951||176,077|
|Total for 2020|41,126||134,951||176,077|
|Total for 2019|-||138,244||138,244|



## 3 Income from charitable activities 

||Unrestricted|||
|---|---|---|---|
||funds||Total|
||General||funds|
||£||£|
|Income from charitable activities:||||
|Children's Day Centre Fees|205,486||205,486|
|Total for 2020|205,486||205,486|
|Total for 2019|303,445||303,445|



Page 12 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## 4 Income from other trading activities 

||Unrestricted|||
|---|---|---|---|
||funds||Total|
||General||funds|
||£||£|
|Events income;||||
|Other events income|2,064||2,064|
|Total for 2020|2,064||2,064|
|Total for 2019|2,342||2,342|
|5<br>Investment income||||
||Unrestricted|||
||funds||Total|
||General||funds|
||£||£|
|Total for 2020|-||-|
|Total for 2019|5||5|
|||||
|6<br>Expenditure on charitable activities||||
||Unrestricted|||
||funds||Total|
||General||funds|
||£||£|
|Staff costs|387,565||387,565|
|Allocated support costs|60,139||60,139|
|Governance costs|6,540||6,540|
|Total for 2020|454,244||454,244|
|Total for 2019|498,514||498,514|



Page 13 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

||Activity|||||
|---|---|---|---|---|---|
||undertaken||Activity||Total|
||directly||support costs||expenditure|
||£||£||£|
|Staff costs and Day Centre purchases|387,565||4,280||391,845|
|Establishment costs|-||13,509||13,509|
|Repairs and maintenance|-||9,188||9,188|
|Office expenses|-||4,576||4,576|
|Cleaning|-||7,059||7,059|
|Depreciation of tangible fixed assets|-||21,527||21,527|
|Total for 2020|387,565||60,139||447,704|
|Total for 2019|428,646||63,148||491,794|



## 7 Analysis of governance and support costs 

## Governance costs 

## Unrestricted 

||||||Unrestricted|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Total||Total|
||||||General||2020||2019|
||||||£||£||£|
|Accounting|and|Independent|Examiner's|fees|6,540||6,540||6,720|
||||||6,540||6,540||6,720|



## 8 Government grants 

The following government grants were received during the year: Local Authority NEG grants of £134,951 (2019 - £138,244) 

UK government Coronavirus Job Retention Scheme grants of £41,126 (2019 - £nil). 

The amount of grants recognised in the financial statements was £176,077 (2019 - £138,244). 

## 9 Net incoming/outgoing resources 

Net outgoing resources for the year include: 

|Net outgoing resources for the year include:||||
|---|---|---|---|
||2020||2019|
||£||£|
|Operating leases - other assets|7,000||7,000|
|Depreciation of fixed assets|21,527||21,527|



## 10 Trustees remuneration and expenses 

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 

No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 

Page 14 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## 11 Staff costs 

The aggregate payroll costs were as follows: 

|The aggregate payroll costs were as follows:||||
|---|---|---|---|
||2020||2019|
||£||£|
|Staff costs during the year were:||||
|Wages and salaries|335,860||358,272|
|Social security costs|16,758||18,336|
|Operating costs of defined benefit pension schemes|34,947||38,197|
|Redundancy payments|-||13,841|
||387,565||428,646|



The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows: 

|||||2020|||2019||
|---|---|---|---|---|---|---|---|---|
|||||No|||No||
|Children|Day|Centre|staff||18|||20|



Of the above employees 18 (2019 - 20) participated in the Defined Contribution Pension Schemes. 

Contributions to the employee pension schemes for the year totalled £34,947 (2019 - £38,197). 

During the year, the charity made redundancy and/or termination payments which totalled £Nil (2019 - £13,841). 

Redundancy payments arising from periodic reviews of staff levels are charged against net income/(expenditure) in the year in which employees leave the charity. 

No employee received emoluments of more than £60,000 during the year 

The total employee benefits of the key management personnel of the charity were £37,638 (2019 - £41,882). 

The Children's Day Centre Manager, as the highest paid member of staff, received benefits totalling £35,753 (2019 - £41,882). 

## 12 Taxation 

The charity is a registered charity and is therefore exempt from taxation. 

Page 15 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## 13 Tangible fixed assets 

|13 Tangible fixed assets||||||
|---|---|---|---|---|---|
||Freehold land|Furniture and||||
||and buildings|equipment||Total||
||£|£||£||
|Cost||||||
|At 1 October 2019|454,548|103,701||558,249||
|At 30 September 2020|454,548|103,701||558,249||
|Depreciation||||||
|At 1 October 2019|357,635|103,692||461,327||
|Charge for the year|21,527|-||21,527||
|At 30 September 2020|379,162|103,692||482,854||
|Net book value||||||
|At 30 September 2020|75,386|9||75,395||
|At 30 September 2019|96,913|9||96,922||
|14 Fixed asset investments||||||
|||2020||2019||
|||£||£||
|Shares in group undertakings and participating interests||100||100||
|Shares in group undertakings and participating interests||||||
|||Subsidiary||||
|||undertakings||Total||
|||£||£||
|Cost||||||
|At 1 October 2019||100||100||
|At 30 September 2020||100||100||
|Net book value||||||
|At 30 September 2020||100||100||
|At 30 September 2019||100||100||



Page 16 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## Details of undertakings 

Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows: 

||Country of||Proportion of voting rights|Principal||
|---|---|---|---|---|---|
|Undertaking|incorporation|Holding|and shares held|activity||
||||2020<br>2019|||
|Subsidiary undertakings||||||
|T & C C Limited|England - Company<br>No: 03394512|Ordinary<br>shares|0%<br>100%|Provision<br>recreational<br>facilities|of|



## Subsidiaries 

The loss for the financial period of T & C C Limited was £21,427 (2019 - £18,234) and the aggregate amount of capital and reserves at the end of the period was £(4,361) (2019 - £17,066). 

## 15 Debtors 

|15 Debtors|||||
|---|---|---|---|---|
||2020|||2019|
||£|||£|
|Trade debtors|12,207|||4,609|
|16 Cash and cash equivalents|||||
||2020|||2019|
||£|||£|
|Cash on hand||536||-|
|Cash at bank|237,318|||291,684|
||237,854|||291,684|



Page 17 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## 17 Creditors: amounts falling due within one year 

|17 Creditors: amounts falling due within one year||||
|---|---|---|---|
||2020||2019|
||£||£|
|Other creditors|2,621||912|
|Accruals|6,640||6,640|
|Deferred income|2,414||1,264|
||11,675||8,816|
||2020||2019|
||£||£|
|Deferred income||||
|Opening balance|1,264||4,796|
|Resources deferred in the period|2,413||1,264|
|Amounts released from previous periods|(1,264)||(4,796)|
|Deferred income at year end|2,413||1,264|



Deferred income represents nursery fees received in advance of child care services to be provided. 

## 18 Obligations under leases and hire purchase contracts 

Total future minimum lease payments under non-cancellable operating leases are as follows: 

||2020||2019|
|---|---|---|---|
||£||£|
|Land and buildings||||
|Within one year|7,000||7,000|
|Between one and five years|28,000||28,000|
|After five years|59,500||66,500|
||94,500||101,500|



Page 18 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## 19 Funds 

|19 Funds|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Balance at|
||Balance at 1|||||||||30|
||October||Incoming||Resources|||||September|
||2019||resources||expended|||Transfers||2020|
||£||£||£|||£||£|
|Unrestricted funds|||||||||||
|General|||||||||||
|General|292,595||248,675||(454,244)|||155,399||242,425|
|Restricted funds|||||||||||
|Restricted|91,904||134,951|||-||(155,399)||71,456|
|Total funds|384,499||383,626||(454,244)|||-||313,881|
|||||||||||Balance at|
||Balance at 1|||||||||30|
||October||Incoming||Resources|||||September|
||2018||resources||expended|||Transfers||2019|
||£||£||£|||£||£|
|Unrestricted funds|||||||||||
|General|||||||||||
|General|326,626||305,792||(498,514)|||158,692||292,596|
|Restricted|||||||||||
|Restricted|112,352||138,244|||-||(158,692)||91,904|
|Total funds|438,978||444,036||(498,514)|||-||384,500|



The following transfers were made during the year: 

A transfer of £20,448 representing the depreciation charged on assets financed by restricted grants (2019 - £20,448). 

A transfer of £131,951 representing grants received from Wakefield Metropolitan District Council in support of child care activities provided by the charity (2019 - £138,244) 

Total transfers - £155,399 (2019 - £158,692). 

Page 19 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## 20 Analysis of net assets between funds 

|20 Analysis of net assets between funds||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||Unrestricted|||||||||Total funds at|
|||funds||||Restricted|||||30 September|
|||General||||funds|||||2020|
|||£||||£|||||£|
|Tangible fixed assets||3,939||||71,456|||||75,395|
|Fixed asset investments||100|||||-||||100|
|Current assets||250,061|||||-||||250,061|
|Current liabilities||(11,675)|||||-||||(11,675)|
|Total net assets||242,425||||71,456|||||313,881|
|||Unrestricted|||||||||Total funds at|
|||funds||||Restricted|||||30 September|
|||General||||funds|||||2019|
|||£||||£|||||£|
|Tangible fixed assets||5,018||||91,904|||||96,922|
|Fixed asset investments||100|||||-||||100|
|Current assets||296,293|||||-||||296,293|
|Current liabilities||(8,817)|||||-||||(8,817)|
|Total net assets||292,594||||91,904|||||384,498|
|||||||||||||
|21 Analysis of net funds||||||||||||
||||||||||||At 30|
|||At 1 October||||Financing cash|||||September|
|||2019||||flows|||||2020|
|||£||||£|||||£|
|Cash at bank and in hand||291,684||||(53,830)|||||237,854|
|Net debt||291,684||||(53,830)|||||237,854|
||||||||||||At 30|
|||At 1 October||||Financing cash|||||September|
|||2018||||flows|||||2019|
|||£||||£|||||£|
|Cash at bank and in hand||327,098||||(35,414)|||||291,684|
|Net debt||327,098||||(35,414)|||||291,684|



Page 20 



## Minsthorpe Charitable Trust 

## Notes to the Financial Statements for the Year Ended 30 September 2020 

## 22 Related party transactions 

During the year the charity made the following related party transactions: 

## Minsthorpe Academy Trust 

Mr M. Gilmore a trustee of the Charity is also a trustee and director of Minsthorpe Academy Trust. Minsthorpe Academy Trust operates as a staff supply agency for the Charity. All staff costs are re-charged in full on a "cost - only" basis. The value of services paid to the Academy Trust during the year in respect of this arrangement amounted to £392,138 (2019 - £419,671). 

A donation of £nil (2019 - £nil) was made to Minsthorpe Academy Trust during the year and there are no other related party transactions to report . At the balance sheet date the amount due to/from Minsthorpe Academy Trust was £Nil (2019 - £Nil). 

Page 21 



## Minsthorpe Charitable Trust 

## Statement of Financial Activities by fund for the Year Ended 30 September 2020 

||Total||Total|
|---|---|---|---|
||Unrestricted||Unrestricted|
||Funds||Funds|
||2020||2019|
||£||£|
|Income and Endowments from:||||
|Donations and legacies|41,126||-|
|Charitable activities|205,486||303,445|
|Other trading activities|2,064||2,342|
|Investment income|-||5|
|Total income|248,676||305,792|
|Expenditure on:||||
|Charitable activities|(454,244)||(498,514)|
|Total expenditure|(454,244)||(498,514)|
|Net expenditure|(205,568)||(192,722)|
|Gross transfers between funds|155,399||158,692|
|Net movement in funds|(50,169)||(34,030)|
|Reconciliation of funds||||
|Total funds brought forward|292,594||326,625|
|Total funds carried forward|242,425||292,595|



This page does not form part of the statutory financial statements. Page 22 



## Minsthorpe Charitable Trust 

## Statement of Financial Activities by fund for the Year Ended 30 September 2020 

||Total||Total|
|---|---|---|---|
||Restricted||Restricted|
||Funds||Funds|
||2020||2019|
||£||£|
|Income and Endowments from:||||
|Donations and legacies|134,951||138,244|
|Total income|134,951||138,244|
|Expenditure on:||||
|Net income|134,951||138,244|
|Gross transfers between funds|(155,399)||(158,692)|
|Net movement in funds|(20,448)||(20,448)|
|Reconciliation of funds||||
|Total funds brought forward|91,904||112,352|
|Total funds carried forward|71,456||91,904|



This page does not form part of the statutory financial statements. Page 23 



## Minsthorpe Charitable Trust 

## Detailed Statement of Financial Activities for the Year Ended 30 September 2020 

||Total||Total|
|---|---|---|---|
||2020||2019|
||£||£|
|Income and Endowments from:||||
|Donations and legacies (analysed below)|176,077||138,244|
|Charitable activities (analysed below)|205,486||303,445|
|Other trading activities (analysed below)|2,064||2,342|
|Investment income (analysed below)|-||5|
|Total income|383,627||444,036|
|Expenditure on:||||
|Charitable activities (analysed below)|(454,244)||(498,514)|
|Total expenditure|(454,244)||(498,514)|
|Net expenditure|(70,617)||(54,478)|
|Net movement in funds|(70,617)||(54,478)|
|Reconciliation of funds||||
|Total funds brought forward|384,498||438,977|
|Total funds carried forward|313,881||384,499|



This page does not form part of the statutory financial statements. Page 24 



## Minsthorpe Charitable Trust 

## Detailed Statement of Financial Activities for the Year Ended 30 September 2020 

||Total|Total||Total|
|---|---|---|---|---|
||2020|||2019|
||£|||£|
|Donations and legacies|||||
|UK Government grants|134,951|||138,244|
|UK Government grants||41,126||-|
||176,077|||138,244|
|Charitable activities|||||
|Fees and supplies|205,486|||303,445|
||205,486|||303,445|
|Other trading activities|||||
|Jumble sales||2,064||2,342|
|||2,064||2,342|
||||||
|Investment income|||||
|Interest on cash deposits||-||5|
|||-||5|
||||||
|Charitable activities|||||
|Purchases||(4,280)||(6,747)|
|Wages and salaries|(335,860)|||(358,272)|
|Social security costs|(16,758)|||(18,336)|
|Operating costs of defined benefit pension schemes|(34,947)|||(38,197)|
|Redundancy payments||-||(13,841)|
|Rent||(7,000)||(7,000)|
|Light, heat and power||(5,152)||(5,555)|
|Insurance||(1,358)||(1,341)|
|Repairs and maintenance||(9,188)||(12,565)|
|Telephone and fax||(291)||(290)|
|Office expenses||(4,284)||(2,860)|
|Cleaning||(7,059)||(5,263)|
|Depreciation of freehold property|(21,527)|||(21,527)|
|Accountancy fees||(3,270)||(3,360)|
|Independent examiner's fee||(3,270)||(3,360)|
||(454,244)|||(498,514)|



This page does not form part of the statutory financial statements. Page 25