Charity registration number: 1067925
The Stevenson Centre
Annual Report and Financial Statements for the Year Ended 31 March 2021
Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors 3 Warners Mill Silks Way Braintree Essex CM7 3GB
The Stevenson Centre
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustee's Report | 2 to 4 |
| Statement of Trustee's Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 16 |
The Stevenson Centre
Reference and Administrative Details
Trustee
Great Cornard Parish Council
Senior Management Team
Cllr. S. Sheridan, Trustee Chairman Cllr. A. C. Bavington, Trustee Vice Chairman Mrs N. Tamlyn, Council Manager
Principal Office The Stevenson Centre Stevenson Approach Great Cornard Sudbury Suffolk CO10 0WD Charity Registration Number 1067925 Bankers Barclays Chelmsford 40-41 High Street Chelmsford Essex CM1 1BE Independent Examiner Nicholas Forsyth FCA Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors 3 Warners Mill Silks Way Braintree Essex CM7 3GB
Page 1
The Stevenson Centre
Trustee's Report
The member presents the annual report together with the financial statements of the charity for the year ended 31 March 2021.
Objectives and activities
Objects and aims
The Charity runs a community centre for the benefit of inhabitants of Great Cornard and the neighbouring area without distinction of sex or of political, religious or other opinions by the advancement of education and the provision of facilities in the interests of social welfare for recreation and leisure.
Objectives, strategies and activities
The charity has continued to hire the community centre to inhabitants of Great Cornard and the neighbouring area and aims to continue to support local community groups.
Public benefit
The Charity aims to benefit the inhabitants of Great Cornard and the neighbouring area with the object of improving the conditions of life for the said inhabitants.
The trustee confirms 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.
Grant making policies
The charity is aiming, in the future, to look towards financially supporting some of the local groups who use the Community Centre.
Financial review
Policy on reserves
The current level of available reserves amounts to £16,468 (2020: £12,514). The senior management team believe that reserves amounting to £5,000 are required to ensure that the Charity has sufficient funding to enable it to continue to operate should income levels diminish in subsequent periods.
The remaining £11,468 will be kept as reserves due to the uncertainty of the times in relation to the COVID-19 pandemic and the Centre’s considerable loss of income during the periods of lockdown.
Principal funding sources
The charity obtains income from the letting of the Community Centre and also benefits from donations provided by Great Cornard Parish Council.
Page 2
The Stevenson Centre
Trustee's Report
Going concern
Due to the COVID-19 pandemic and the Government lockdowns, Great Cornard Parish Council as Sole Managing Trustees of The Stevenson Centre agreed to close the Centre on Monday 23rd March 2020.
At a meeting held on Monday 27th July 2020, the Trustees agreed to reopen the Centre from Saturday 1st August 2020 on the understanding all the COVID-19 Secure Guidelines had been followed and procedures were in place to ensure they were followed at all times. The Centre initially reopened to a small number of groups who were allowed to meet under the latest restrictions and gradually more groups were allowed to return as and when the restrictions changed.
The Charity received COVID grants of £20,708 which compensated for the considerable loss in lettings income in 2021 to £17,585 (2020:£44,078).
The Trustees acknowledged the Centre’s income may be reduced for a considerable period as the usual pattern of hire may not be resumed until the end of 2021, as some of the Centre’s users are from vulnerable groups who are unlikely to return until September 2021, at the earliest. Although the Centre did financially benefit from being used as a Lateral Flow Test Centre from March 2021 to May 2021.
The Charity has continued to apply for available grants during the lockdown periods and the Parish Council will continue to monitor the Centre’s financial position and transfer allocated funds to support the Centre, if required.
Structure, governance and management
Nature of governing document
The charity is governed by the lease and trust deed dated 24th June 1968 as varied by scheme of the Charity Commissioners of 15th November 1993.
The charity was registered with the Charity Commission on 3rd February 1998.
Appointment of Trustees
Great Cornard Parish Council as a corporate body is the sole Managing Trustees. Individual Parish Councillors are not themselves Charity Trustees.
Induction and training of trustees
Any new Members of the Parish Council or the senior management team will receive the appropriate level of training to obtain an understanding of the Charity's objects and aims and will be provided with a copy of the Charity's governing document.
Organisational structure
The Senior Management Team, representing the Parish Council (the Sole Managing Trustee) hold separate meetings on a regular basis to discuss the activities and performance of the charity and the achievement of its charitable objects.
Page 3
The Stevenson Centre
Trustee's Report
Relationships with related parties
Great Cornard Parish Council
Great Cornard Parish Council is the sole trustee of the charity and the Councillors are responsible for the running of the charity.
Major risks and management of those risks
Risks faced by the charity
The Council officers responsible for the performance of the Charity meet on a regular basis and will discuss the risks faced and consider how these risks may be best mitigated.
The main risk faced by the Charity is that its income level will not be sufficient to ensure that it can continue as a going concern.
The Trustee acknowledge that good publicity and marketing of The Stevenson Centre is key to promoting the Centre’s facilities. The Stevenson Centre is advertised and promoted locally and advises local residents that they can benefit from advantageous rates. The Parish Council, as Sole Trustee of The Stevenson Centre Charity works closely with its users to ensure their needs are met and that they are happy with the facilities provided.
The Trustees regularly review the Centre’s hire charges to tailor income to expenditure and to ensure that charges for all users are kept reasonable and affordable and comparable to local competitors.
If the Charity, for a temporary period of time, is unable to meet its expenditure it has the option to apply to the Parish Council for support.
The Stevenson Centre Charity has appropriate insurance in place to cover the loss of revenue up to £40,000.
The annual report was approved by the member of the charity on 13 September 2021 and signed on its behalf by:
.......................................................................... Cllr. S. Sheridan, Trustee Chairman, for and on behalf of Great Cornard Parish Council Trustee
Page 4
The Stevenson Centre
Statement of Trustee's Responsibilities
The trustee is responsible for preparing the trustee's 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 trustee 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 member is required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustee is 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 trustee is 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 the member of the charity on 13 September 2021 and signed on its behalf by:
.........................................
Cllr. S. Sheridan, Trustee Chairman, for and on behalf of Great Cornard Parish Council Trustee
Page 5
The Stevenson Centre
Independent Examiner's Report to the Trustee of The Stevenson Centre
I report to the charity trustee on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 7 to 16.
Respective responsibilities of trustee and examiner
As the charity’s trustee of The Stevenson Centre 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 The Stevenson Centre'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.
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:
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accounting records were not kept in respect of The Stevenson Centre as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
...................................... Nicholas Forsyth FCA Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors
3 Warners Mill Silks Way Braintree Essex CM7 3GB
22 October 2021
Page 6
The Stevenson Centre
Statement of Financial Activities for the Year Ended 31 March 2021
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Investment income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Unrestricted £ 39,100 17,585 - 56,685 (51,804) (51,804) 4,881 20,645 25,526 |
Total 2021 £ 39,100 17,585 - 56,685 (51,804) (51,804) 4,881 20,645 25,526 |
Total 2020 £ 21,894 44,078 100 |
|---|---|---|---|
| 66,072 | |||
| (62,753) | |||
| (62,753) | |||
| 3,319 17,327 |
|||
| 20,646 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 15.
The notes on pages 9 to 16 form an integral part of these financial statements. Page 7
The Stevenson Centre
(Registration number: 1067925) Balance Sheet as at 31 March 2021
| Note Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand 13 Creditors: Amounts falling due within one year 14 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 15 |
2021 £ 6,811 9,177 14,303 23,480 (4,765) 18,715 25,526 25,526 25,526 |
2020 £ 5,004 1,992 17,743 |
|---|---|---|
| 19,735 (4,093) |
||
| 15,642 | ||
| 20,646 | ||
| 20,646 | ||
| 20,646 |
The financial statements on pages 7 to 16 were approved on behalf of the trustee, and authorised for issue on 13 September 2021 and signed on their behalf by:
.................................................................. Cllr. S. Sheridan, Trustee Chairman, for and on behalf of Great Cornard Parish Council Trustee
The notes on pages 9 to 16 form an integral part of these financial statements. Page 8
The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2021
1 Accounting policies
Statement of compliance
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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Stevenson Centre 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 notes.
Going concern
The trustee consider that there are no material uncertainties about the charity's ability to continue as a going concern. The charity will receive continued support from the Great Cornard Parish Council to ensure that it is able to continue to trade as a going concern.
Judgements
Apart from those judgements involving estimations, the management has not made any judgements in the process of applying the entity’s accounting policies that have significant effect on the amounts recognised in the accounts.
Key sources of estimation uncertainty
There are no key assumptions concerning the future or other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
Income and endowments
Voluntary income including donations that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Investment income
Interest income is recognised on a received basis.
Charitable activities
Income from charitable activities relates to the hire of the community centre in order for the charity to meet its charitable objects. Income from this source is recognised when there is entitlement to the income, the amount is measurable and receipt is probable.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Page 9
The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2021
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements.
Taxation
The charity is potentially exempt from taxation in respect of income or capital gains received to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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 Furniture and equipment 20% Straight line method Office equipment 33% Straight line method Other tangible assets 20% Straight line method
Trade debtors
Trade debtors are amounts due from customers for hall rental services in the ordinary course of business.
Trade debtors are recognised initially at the transaction price.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
Page 10
The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2021
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
2 Income from donations and legacies
| Grants, including capital grants; Babergh Council COVID grants Donations 3 Income from charitable activities Hire of community centre 4 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 20,708 18,392 39,100 Unrestricted funds General £ 17,585 Unrestricted funds General £ - |
Total 2021 £ 20,708 18,392 39,100 Total 2021 £ 17,585 Total 2021 £ - |
Total 2020 £ - 21,894 21,894 Total 2020 £ 44,078 Total 2020 £ 100 |
||
|---|---|---|---|---|---|
Page 11
The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2021
5 Expenditure on charitable activities
| Note Specific grant expenditure Rates Light, heat and power Insurance Telephone and fax Printing, postage and stationery Trade subscriptions Sundry expenses Cleaning Advertising Bad debts written off Computer consumables and maintenance costs Costs of donated time Depreciation, amortisation and other similar costs Staff costs Governance costs 6 Repairs and maintenance |
Unrestricted General £ - 697 4,815 1,208 325 410 979 - 499 - - 98 15,628 1,307 19,891 1,175 4,772 51,804 |
Total 2021 £ - 697 4,815 1,208 325 410 979 - 499 - - 98 15,628 1,307 19,891 1,175 4,772 51,804 |
Total 2020 £ 1,751 1,158 8,585 1,247 517 419 984 326 1,533 708 169 197 20,287 339 12,787 990 10,756 |
|---|---|---|---|
| 62,753 |
Page 12
The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2021
6 Analysis of governance and support costs
Governance costs
| Accountancy fees Other fees paid to accountants Independent examiner fees Examination of the financial statements |
Unrestricted General £ 311 864 1,175 |
Total 2021 £ 311 864 1,175 |
Total 2020 £ 126 864 |
|---|---|---|---|
| 990 |
7 Trustee remuneration and expenses
No trustee, 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.
8 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2021 £ 17,299 4 2,588 19,891 |
2020 £ 12,718 69 - |
|---|---|---|
| 12,787 |
The monthly average number of persons employed by the charity during the year expressed as full time equivalents was as follows:
| Average employees No employee received emoluments of more than £60,000 during the year 9 Independent examiner's remuneration Examination of the financial statements |
2021 No 3 2021 £ 864 |
2020 No 3 |
|---|---|---|
| 2020 £ 864 |
10 Taxation
The charity is a registered charity and is therefore potentially exempt from taxation.
Page 13
The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2021
11 Tangible fixed assets
| Cost At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 12 Debtors Trade debtors Prepayments Other debtors 13 Cash and cash equivalents Cash at bank 14 Creditors: amounts falling due within Trade creditors Other creditors Other taxation and social security Accruals |
Furniture and equipment £ 4,747 1,310 6,057 339 1,110 1,449 4,608 4,408 one year |
Office equipment £ 596 - |
Office equipment £ 596 - |
Other tangible fixed asset £ - 1,804 1,804 - - - 1,804 - 2021 £ 8,008 1,169 - 9,177 2021 £ 14,303 2021 £ - 965 91 3,709 4,765 |
Other tangible fixed asset £ - 1,804 1,804 - - - 1,804 - 2021 £ 8,008 1,169 - 9,177 2021 £ 14,303 2021 £ - 965 91 3,709 4,765 |
Total £ 5,343 3,114 8,457 339 1,307 1,646 6,811 5,004 2020 £ 896 556 540 |
|
|---|---|---|---|---|---|---|---|
| 596 | 1,804 | ||||||
| - 197 |
- - |
||||||
| 197 | - | ||||||
| 399 | 1,804 | ||||||
| 596 | - | ||||||
| 2021 £ 8,008 1,169 - 9,177 2021 £ 14,303 2021 £ - 965 91 3,709 4,765 |
|||||||
| 1,992 | |||||||
| 2020 £ 17,743 |
|||||||
| 2020 £ 2,599 - - 1,494 |
|||||||
| 4,093 |
Page 14
The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2021
15 Funds
| Unrestricted funds General Unrestricted General Funds Designated Fixtures and fittings Total funds Unrestricted funds General Unrestricted General Funds Designated Grants to be distributed Fixtures and fittings Total funds |
Balance at 1 April 2020 £ 17,518 3,127 20,645 Balance at 1 April 2019 £ 17,327 - - - 17,327 |
Incoming resources £ 56,685 - 56,685 Incoming resources £ 66,072 - - - 66,072 |
Resources expended £ (51,804) - (51,804) Resources expended £ (57,576) (1,751) (3,427) (5,178) (62,754) |
Transfers £ 880 (880) - Transfers £ (8,305) 1,751 6,554 8,305 - |
Balance at 31 March 2021 £ 23,279 2,247 |
|---|---|---|---|---|---|
| 25,526 | |||||
| Balance at 31 March 2020 £ 17,518 - 3,127 |
|||||
| 3,127 | |||||
| 20,645 |
The specific purposes for which the funds are to be applied are as follows:
The unrestricted funds relate to general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.
Last year, The Stevenson Centre designated funding to allow them to distribute grants to applicants who required use of the hall facilities.
The Stevenson Centre designated monies to improve the Hall's facilities and equipment in the previous year. Fixed assets costing £880 have been purchased in the year.
Page 15
The Stevenson Centre
Notes to the Financial Statements for the Year Ended 31 March 2021
16 Analysis of net assets between funds
| 16 Analysis of net assets between funds | ||
|---|---|---|
| Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 6,811 23,480 (4,765) 25,526 |
Total funds at 31 March 2021 £ 6,811 23,480 (4,765) |
| 25,526 |
17 Related party transactions
During the year the charity made the following related party transactions:
During the period, donations amounting to £18,392 (2020: £21,894) were provided to the charity from Great Cornard Parish Council, the sole managing trustee. These were provided with no conditions attached.
At the balance sheet date the amount due to/from was £Nil (2020 - £Nil).
Page 16