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:
- 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 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:
1. accounting records were not kept in respect of The Stevenson Centre 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.
...................................... 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