2021-03-31-accounts - Filwood Hope Ltd

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FILWOOD HOPE LTD

FINANCIAL STATEMENTS

31 MARCH 2021

Company Registration Number 03487393 Charity Number 1067441

Filwood Hope Ltd

FINANCIAL STATEMENTS

YEAR ENDED 31 March 2021

CONTENTS	PAGE
Reference and administrative details of the charity and its
advisors	1
Trustees annual report	2 to 5
Independent Examiners report	6
Statement of financial activities (including income and
expenditure account)	7
Balance sheet	8
Notes to the financial statements	9 to 17

Filwood Hope Ltd

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY AND ITS ADVISORS

YEAR ENDED 31 MARCH 2021

Charity Name	Filwood Hope Limited
Company number	03487393
Charity number	1067441
Registered office	Filwood Hope Centre, 11 & 13 Filwood Broadway, Knowle West
	Bristol, BS4 1JL
Trustees	Trustees, who are also directors under company law, who
	served during the year and up to the date of this report were as
	follows:
	G E Blacker	Resigned 2ndFeb 2021
	B A Morris
	E M Palairet
	D G Redshaw Chairperson
	C Gardiner	Appointed 21stJan 2021
	N Piggot	Appointed 21stJan 2021
Key Management
Personnel	Margaret Aitken & Laura Hathway
Bankers	Bank of Scotland, 33 Old Broad Street, London
Independent	Geoff Archer
Examiner	Bristol Community Accountants CIC
	The Park, Daventry Road, Bristol, BS4	1DQ

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Filwood Hope Ltd

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

Objectives and activities

The objects for which the charity is established are:

The prevention or relief of emotional, spiritual, or financial hardship in Knowle West and surrounding area by providing access to advice and services which might not otherwise be accessed through lack of means by:
Providing a drop-in advice centre, offering a friendly, relaxed atmosphere where clients can talk through their issues in a safe and confidential setting. We handle any enquiry, seeking to help the client resolve their difficulty. To support clients our activities include making telephone calls, writing letters, filling forms, contacting local and statutory bodies.
Specialist advisors being available during the week to give confidential advice.
To promote social inclusion through developing the capacity and skills of individuals in Knowle West and surrounding area to enable people to identify and help meet their own needs and to participate more fully in the community.

In planning our objectives and activities we have had regard to the Charity Commission’s guidance on public benefit.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Our people

The objects of the charity are delivered through people giving of themselves. The centre is staffed by three part-time staff and seven volunteers.

The board offers its thanks for the staff team’s willingness to work through uncertainty, for the volunteer team’s support in re-opening the advice centre, and for all the IT support we received at our time of need.

We acknowledge with gratitude the late Graham Blacker’s 20+ years of service to Filwood Hope, where he was a long-standing volunteer and trustee. His mantra ‘keep on going’ was exemplified by his contribution to the local area, which was recognised in local awards and the Lord Mayor’s medal.

Two new trustees were appointed at the charity’s AGM, they joined the governing body and now offer leadership and oversight of safeguarding, health and safety, and technology.

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Filwood Hope Ltd

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

Achievements and performance

At the end of March 2020, we suspended face-to-face work at the advice centre in accordance with HM Government guidance to save the lives of our staff, volunteers, and clients from the Covid-19 coronavirus.

None of our staff joined the furlough scheme, as we knew the need for our service had not gone away.

While our doors were closed,

our service was accessible by telephone and email: we responded to more than 240 telephone and 120 email enquiries from all over the city (over 40% of these were from people who had not accessed our services before).
we configured, tested, trained staff, and launched our new internal database;
we sourced personal protective equipment and established Covid-safe working practices.

Knowing that many existing clients could not access our telephone and email service (lack of confidence with documents, lack of access to technology, Wi-Fi, or phone credit), we resumed faceto-face sessions as soon as possible. In early August 2020 we introduced our new opening hours, while maintaining our telephone and email service.

The charity has continued to work in partnership with other agencies to make an important contribution to the life of the community. This included supporting individuals with:

addressing debt or debt related issues;
welfare benefit applications, disruptions to benefits, supporting with appeal process;
housing issues including threat of homelessness;
supporting those experiencing food- and fuel- insecurity and poverty;
accessing financial help during the pandemic;
referrals to organisations such as Mental Health Team, Centre for Sustainable Energy, South Bristol Advice Services, and Age UK.

2021 marks the end of our 2018-2021 development plan. We had set out to:

recruit new volunteers and new trustees – thanks to all who give of their time and talents ;
embed new IT systems to protect our service and to protect our client data – thanks to all involved in the successful IT changes .

Financial review

Income for year was £41,022, expenses were £52,333, bringing total funds carried forwards to £21,852 (£33,163 in 2020) of which £14,736 were freely available unrestricted reserves.

This means a deficit of £11,311 (£4,429 deficit in 2020).

Reserves

It is the policy of Filwood Hope to endeavour to always have in reserves 3 months working capital. Currently no funds are in deficit. We are meeting our reserves policy.

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Filwood Hope Ltd

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

YEAR ENDED 31 MARCH 2021
Grants received include	2020-21
Bristol Impact Fund	£10,776
Garfield Weston Foundation	£ 6,000
Quartet Express Grant	£ 4,641
Burden Trust	£ 4,000
John James Foundation	£ 4,000
Green Hall Foundation	£ 2,400
Dame Violet Wills Charitable Trust	£ 800
Matthew Wrightson Charity	£ 500
Quartet Community Foundation	£ 166

We acknowledge the generous financial support we receive from several churches:	We acknowledge the generous financial support we receive from several churches:
Totterdown Baptist Church	Bristol
Inns Court Christian Fellowship	Bristol
Ferniehill Evangelical Church	Edinburgh
St Augustine’s CofE	Dundry

To the many individuals who have given financial and prayer support to the work of Filwood Hope – we give our grateful thanks.

Plans for future period

Our short-term priorities include:

Developing our 2022-2025 strategic plan
Revisiting our governing document
Strengthening our volunteer base
Strengthening our board of trustees
Strengthening our financial sustainability

Public Benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales

Funds received as agent or funds held as custodian trustee

There are no assets, classes of assets or categories of assets held on behalf of other entities.

Statement of responsibilities of the Management Committee

The trustees who are also the charity trustees have prepared financial statements for the financial year, which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the net income or expenditure, of the charitable company for the year. In preparing those 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;

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Filwood Hope Ltd

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice 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 which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company, and hence for taking reasonable steps for the prevention and detection of fraud and any other irregularities.

The trustees confirm that to the best of their knowledge there is no information relevant to the independent examination of which the examiners are unaware. The trustees also confirm that they have taken all necessary steps to ensure that they themselves are aware of all relevant examination information and that this information has been communicated to the examiners.

Independent examiners

Geoff Archer of Bristol Community Accountants CIC was appointed as the charitable company’s independent examiner during the year.

Approved by the trustees on …21 Dec 2021…… and signed on its behalf by

Edward Palairet Trustee

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Filwood Hope Ltd

INDEPENDENT EXAMINERS REPORT

YEAR ENDED 31 MARCH 2021

I report on the accounts of the company for the year ended 31st March 2021 which are set out on pages 7 to 17.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied 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 your 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

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 Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts 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 accounts 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)].

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.

Geoff Archer Date……21 Dec 2021………….

Bristol Community Accountants CIC The Park Daventry Road Knowle Bristol BS4 1DQ

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Filwood Hope Ltd

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)

YEAR ENDED 31 MARCH 2021

Unrestricted Funds £ 31,101 15 18	Restricted Funds £ 9,888 - -	Total Funds 2021 £ 40,989 15 18	Total Funds 2020 £ 44,431 550 91
31,134	9,888	41,022	45,072
- 46,247	- 6,086	- 52,333	104 49,397
46,247	6,086	52,333	49,501
(15,113) 1,800 (13,313) 29,811	3,802 (1,800) 2,002 3,352	(11,311) - (11,311) 33,163	(4,429) - (4,429) 37,592
16,498	5,354	21,852	33,163

All of the activities of the charity are classed as continuing

The notes on pages 9 to 17 form part of these financial statements

As required by paragraph 4.67 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

Details of the allocation of 2020 total funds between unrestricted and restricted are shown in note 17

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Filwood Hope Ltd

BALANCE SHEET

YEAR ENDED 31 MARCH 2021

			2021	2020
	Note		£	£
Fixed assets	12		1,762	-
Current assets
Debtors	13	-		20
Cash at bank and in hand		20,868		33,846
Total current assets		20,868		33,866
Creditors : Amounts falling
due within one year	14	(778)		(703)

Net Current assets or liabilities			20,090	33,163
*Total net assets or liabilities*			21,852	33,163
The Funds of the Charity
Restricted funds	15	5,354		3,352
Unrestricted funds	15	16,498		29,811

*Total charity funds*			21,852	33,163

The directors are satisfied that the company is 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies' regime and in accordance with FRS102 SORP.

These financial statements were approved by the trustees on …21 Dec 2021........ and are signed on their behalf by:

Edward Palairet Trustee

The notes on pages 9 to 17 form part of these financial statements

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Filwood Hope Ltd

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

1 Basis of Preparation

a) These accounts 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 accounts.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued on 16 July 2014), as amended by Update Bulletin 2 published in October 2018, effective for accounting periods beginning on or after 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

b) The accounts have been prepared on the assumption that the charitable company is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charitable company's ability to continue as a going concern.
c) The charity meets the definition of a public benefit entity as defined by FRS 102.

2 Accounting Policies

a) Income from donations/grants is included in income when these are receivable, except as follows:

i) When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods.

ii) When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-condition have been met.

b) Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.
c) Most expenditure is directly attributable to specific activities, and has been included in those cost categories. Support cost have been allocated 100% towards the charitable activities of the charity.
d) Rentals applicable to operating lease agreements where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.
e) Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
f) Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
g) Individual assets costing £1,000 or more are capitalised at cost. Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:

Equipment - 25% straight line

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Filwood Hope Ltd

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

g) 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 recognised at amortised cost using the effective interest method.
h) The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. Pension costs charged in the financial statements represent the contribution payable by the charitable company during the year.

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Filwood Hope Ltd

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

Income and Endowments From:

Unrestricted Funds £ 3,973 2,679 1,565 10,777 12,107	Restricted Funds £ 488 - - - 9,400	Total Funds 2021 £ 4,461 2,679 1,565 10,777 21,507	Total Funds 2020 £ 4,468 4,693 - 11,558 23,712
31,101	9,888	40,989	44,431
Unrestricted Funds £ 3,428 4,693 11558 21512	Restricted Funds £ 1,040 - - 2200	Total Funds 2020 £ 4,468 4,693 11,558 23,712	Total Funds 2020 £ 430 120
41,191	3,240	44,431
Unrestricted Funds £ 15 -	Restricted Funds £ - -	Total Funds 2021 £ 15 -
15	-	15	550

Charitable Activities prior year - all unrestricted

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Filwood Hope Ltd

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

5 Investments

Investments
Investment Interest	Unrestricted Funds £	Restricted Funds £	Total Funds Total Funds 2021 2020 £ £ 18 91
	18	-

Investment income prior year - all unrestricted

Expenditure on:

6 Costs of other trading activities

	Unrestricted	Restricted	Total Funds	Total Funds
	Funds	Funds	2021	2020
	£	£	£	£
Café Supplies	-	-	-	104
	-	-	-	104

Costs of other trading acitivies prior year - all unrestricted

7 Charitable activities

I T & Office Equipment Insurance Office Maint & Cleaning Other Direct Costs: Accountants Fees Other Direct Costs: Sundry Pension costs Printing & Photocopy Salaries Service Charges Software Service Contract Telephones-Fax-Postage Training Utilities: Heat, Light & Power Depreciation	Unrestricted Funds £ 1,017 - 778 195 750 298 39,419 1,694 113 1,398 365 183 38	Restricted Funds £ 553 - - - 1,587 - 31 - - 2,415 - - 1,500 -	Total Funds Total Funds 2021 2020 £ £ 553 1,707 1,017 998 - 41 778 1,022 1,782 2,214 750 697 329 312 39,419 38,321 1,694 1,122 2,528 - 1,398 1,403 365 - 1,683 1,560 38 - 52,333 49,397
	46,247	6,086

continued…

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Filwood Hope Ltd

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

Charitable Activities prior year I T & Office Equipment Insurance Office Maint & Cleaning Other Direct Costs: Audit Fees Other Direct Costs: Sundry Pension costs Printing & Photocopy Salaries Service Charges Telephones-Fax-Postage Utilities: Heat, Light & Power	Unrestricted Funds £ - 998 41 1022 2111 697 312 38321 1122 1403 1560	Restricted Funds £ 1707 - - - 103 - - - - - -	Total Funds 2020 £ 1,707 998 41 1,022 2,214 697 312 38,321 1,122 1,403 1,560
	47,587	1,810	49,397

8 Net incoming resources for the year

This is stated after charging:

This is stated after charging:
	2021		2020
	£		£
Depreciation		38		-
Independent Examination Fees		634		569

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Filwood Hope Ltd

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

9 Staff costs and numbers

The aggregate payroll costs were:

Wages and Salaries Pension Costs	2021 2020 £ £ 39,419 38,321 750 697 40,169 39,018

No employee received emoluments of more than £60,000.

The average head count of employees during the year was as follows:

	2021	2020
	No.	No.
Employees	3	3

Total employee benefits paid to key management personnel during the year were 34,614 (2020: 34,136)

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2020: £nil) No trustees received reimbursement for board expenses incurred throughout the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

There were no other related party transactions during the year (2020: £nil).

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Company limited by guarantee

The company is limited by guarantee and as such has no issued share capital. In the event of the company being wound up the liability of the members is limited to £1 each.

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Filwood Hope Ltd

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

12 Tangible fixed assets

Equipment £ 4,424 1,800	2021 £ -	Total £ 4,424 1,800
6,224		6,224
4,424 38		4,424 38
4,462		4,462
1,762		1,762
-		-
		2020 £ 20
	-	20
	2021 £ 778 -	2020 £ 683 20
	778	703

13 Debtors

14 Creditors: amounts falling due within one year

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Filwood Hope Ltd

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

At 01-Apr 2020 £ 309 1,863 - 493 - - 687	Incoming resources £ - 488 2,400 - 4,000 3,000 -	Outgoing resources £ - (87) (31) (493) (2,475) (3,000) -	Transfers £ - - (1,800) - - - -	At 31-Mar 2021 £ 309 2,264 569 - 1,525 - 687
3,352	9,888	(6,086)	(1,800)	5,354
29,811 -	31,134 -	(46,209) (38)	- 1,800	14,736 1,762
29,811	31,134	(46,247)	1,800	16,498

33,163	41,022	(52,333)	-	21,852

Purpose of funds

The Burden Trust – A grant was requested to replace our database and fund it for 2 years. This was granted in June 2020.

Elderly services – Left over of a grant received in 2017 for relief of hardship for the elderly.

Food fund – Individual gifts earmarked for food fund enables us to respond to fuel and food poverty

Quartet – Express grant received to purchase further laptop for advisor use

Green Hall Foundation – This grant was to purchase a new to us photocopier. This was purchased in February 2021. Also to fund running costs for 5 years.

John James Foundation – Received in April 2020 for core but not salary costs for our work in Knowle West

16 Analysis of net assets between funds

Fixed Assets Cash at Bank and In Hand Other Net Current Assets/Liabilities) Total	General Funds £ - 15,514 (778)	Restricted Funds £ - 5,354 -	Designated Total Funds Funds £ £ 1,762 1,762 - 20,868 - (778) 1,762 21,852
	14,736	5,354

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Filwood Hope Ltd

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

17 Analysis of prior year funds, as required by paragraph 4.2. of the SORP

Prior Year Unrestricted Funds 2020 £ 41,191 550 91	Prior Year Restricted Funds 2020 £ 3,240 - -	Prior Year Total Funds 2020 £ 44,431 550 91
41,832	3,240	45,072
47,587 104	1,810 -	49,397 104
47,691	1,810	49,501
(5,859) -	1,430 -	(4,429) -
(5,859) 35,670	1,430 1,922	(4,429) 37,592
29,811	3,352	33,163
TRUE	TRUE	TRUE

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