Registered Charity No 1075233 Company No 03741462 THE PIP CENTRE A COMPANY LIMITED BY GUARANTEE UNAUDITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Doc ID: 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9 **THE PIP CENTRE** **A COMPANY LIMITED BY GUARANTEE** ## **FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2023** ||**Contents**|| |---|---|---| |||**Pages**| |TrusteesReport||1| |Legal and Administrative Information||3| |IndependentExaminers Report||4| |StatementFinancialActivities||5| |Balance Sheet||6| |Notesto theAccounts||7-10| Doc ID: 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9 ## **THE PIP CENTRE TRUSTEES REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2023** The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's governing document, the Companies Act 2006 and "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 (FRS102)" (as amended for accounting period commencing from **1** January 2016) ## **Constitution, Organisational Structure and Objectives** The PIP Centre was i-icorporated as a company limited by guarantee on 25 March 1999 and as such is governed by its Memorandum and Articles of Association. The company is registered with the Charity Commission for England and Wales. The objectives of the charity are to provide and maintain a centre to provide facilities for the recreation, education and care of the public in South Molton and the surrounding area. The directors who central the Charity and carry out the administrative duties are listed on page 2. In planning our activities we have kept in mind the Charity Commission's guidance on public benefit and have followed this guidance to demonstrate the charitable aims are for the public benefit. ## **Achievements and Performance** We continue to run the PIP Centre with Tarka Tots an established early years provision as our main deliverer of services to the community. Alongside this we continue to offer space to the Health Visitors and school nurses to meet families in a child and family friendly environment. It has been a frustrating year regarding achieving our funding for replacing our heating system - we missed one funding stream due to technicalities within the complex application process. However there are still funding opportunities in the next few months. Our plumber continues to nurse the system along. The lighting upgrade that we were able to complete thanks to grant funding has helped enormously with the electricity costs. Just the lighting enabled us to be financially secure - However our reserves were used during covid and we need to build them back. ## **Trustees and their Interests** The members of the Charity are directors for the purposes of company law and trustees for the purposes of charity law. No directors hold shares but they have all guaranteed to pay an amount not exceeding £1 in the event of the Charity ceasing and there being a deficiency. The trustees are appointed by a democratic process. ## **Future Strategies** The Charity plans to continue to provide a venue for the community having upgraded facilities during the year. ## **Results** 1 Doc ID: 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9 The results for the year are as stated in the attached financial statements. A net surplus of £627 arose this year. ## **Reserves** These are held at a level which enables the Charity to carry out its objectives. ## **Risks** The trustees have reviewed all known risks and have satisfied themselves that there are adequate systems and procedures in place to mitigate the risks identified. The report of the trustees has been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and the Statement of Recommended Practice - Accounting and Reporting by Charities. ## **ON BEHALF OF THE BOARD** **Trustee:** **Date:** ## **31/1/2024** 2 **Doc ID: 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9** ## **THE PIP CENTRE** ## **LEGAL AND ADMINISTRATIVE INFORMATION** Directors N Lock Treasurer PL Hyde Secretary PA Newall Chairman J Petts Treasurer Charity No 1075233 Company No 03741462 Bankers HSBC HSBC 10 High Street Barnstaple Devon EX311BQ Andrew Coates Independent Examiner Registered Office Central Park Mill Street South Molton Devon EX36 4AS 3 Doc ID: 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9 ## **THE PIP CENTRE** ## **Independent Examiner's Report to the Trustees of the Pip Centre** ## **Year Ended 31 March 2023** I report to the Trustees on my examination of the financial statements of The Pip Centre (the charity) for the year ended 31 Mar:;h 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements 111 accordance with the requirements of the Charities Act 2011 (the Act). I report in respect of my examination of the charity's financial statements 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 Charities Commission under section 145(5)(b) of the Act. Independent examiners 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 charity as required by section 130 of the Act or 2. The financial statements do not accord with those records or 3. The financial statements do not comply with the applicable requirements concerning the form and content of the 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. 1have 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 Andrew Coates ACIS CILCA **4** **Doc ID: 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9** ## **THE PIP CENTRE STATEMENT OF FINANCIAL ACTIVITES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023** |**Notes**
**Income and Endowments from**
VoluntaryIncome
2
Charitableactivities
3
TotalIncome
**Expenditure**
Charitable activities
4
Total expenditure
Netlncome/(expenditurefor the year beforetransfers
Transfers betweenfunds
Total fundsbroughtforward
Total funds carried forward|**_General_**
**_Unrestricted_**
**_Funds_**
**_Restricted_**
**_Funds_**
**_Total_**
**_Funds_**
**_Total_**
**_Funds_**
**`2023`**
£
**`2023`**
£
**`2023`**
£
**`2022`**
£
**25,000**
10,379
35,379
25,000| |---|---| ||25,000
10,379
35,379
25,000| ||29,236
5,516
34,752
30,787| ||29,236
5,516
34,752
30,787| ||(4236)
4863
627
5787
231,181
236,968| ||226,945
4,863
231.808
231,181| The statement of financial activities included all gains and losses in the year. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. All income and expenditure derives from continuing activities. 5 Doc ID: 90a8d37aa797cdbee5fa90cadd43a5f3fb9980p9 ## **THE PIP CENTRE BALANCE SHEET AS AT 31 MARCH 2023** |**_Note_**
**Fixed Assets**
TangibleAssets
5
**Current Assets**
Debtors
6
Cashatbankandin hand
**Creditors**
Falling due within cneyear
7
**Net Current Assets**
**Net Assets**
**Capitaland**
**Reserves**
Unrestricted IncomeFunds
11
RestrictedIncomeFunds
**Total Reserves**|1,250
7,433|**_2023_**
£
225,220
7,263|0
3,863|**_2022_**
£
227,993
3,188| |---|---|---|---|---| ||1,420||
675|| |||||| |||232,483||231,181| |||227,620
4,863||
231,181| |||232,483||231,181| The company is entitled to the exemption from audit requirement contained in section 477 of the Companies Act 2006 for the year ended 31 March 2022. No members of the company has deposited a notice, pursuant to requiring an audit of the accounts. The trustees are responsible for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so fair as applicable to the company. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. ON BEHALF OF THE BOARD Trustee Date **31/01/2024** 6 Doc **ID:** 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9 ## **THE PIP CENTRE** ## **NOTES TO THE ACCOUNTS - YEAR ENDED 31 MARCH 2023** ## **1. ACCOUNTING POLICIES** - a. The accounts have been prepared in accordance with the trust's governing document, the Companies Act 2006 and "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 (FRS102)" (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. ## **b. Asset Policy** - Fixed Assets purchased for continuing use by the charity for the furtherance of its objectives are capitalized at cost and depreciated over their economic lives. - c. **Depreciation** Tangible fixed assets are written off over their useful economic lives as follows: Buildings - 1% on a straight-line basis. - Fixtures, fittings & equipment - 15% on a reducing balance basis - **d. Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds donated for use in a restricted area. - **e. Income Recognition** All incoming resources are included in the SOFA when the charity has entitlements. to the income, it is probable they will receive it and the amount can be measured reliably. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. - **f. Expenditure recognition** Expenditure is recognized as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of - the obligation can be measured reliably. The charity is not registered for VAT and all expenditure includes this where appropriate. All expenditure is accounted for on an accruals basis. 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, costs of an indirect nature necessary to support them and costs associated with meeting the constitutional and statutory requirements of the charity. 7 Doc **ID:** 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9 ## **THE PIP CENTRE NOTES TO THE ACCOUNTS - YEAR ENDED 31 MARCH 2023** ## 2 VOLUNTARY INCOME |E|||||| |---|---|---|---|---|---| ||**_`2023`_**|||**_`2022`_**|| |_Unrestricted_|_Restricted_|_Total_|_Unrestricted_|_Restricted_|_Total_| |£|£|£|£|£|£| Donations |3|CHARITABLE|ACTIVITIES|||||| |---|---|---|---|---|---|---|---| ||||**_`2023`_**|||**_`2022`_**|| |||_Unrestricted_|_Restricted_|_Total_|_Unrestricted_|_Restricted_|_Total_| |||£|£|£|£|£|£| ||RentalIncome|25,000||25,000|25,000||25,000| ||Grant Income||10,379|10,379|||| |||25,000|10,379|35,379|25,000||25,000| ## 4 CHARITABLE EXPENDITURE |WagesandNI
LightandHeat
Insurance
Property Repairs
Repairs and Renewal
Telephone
Cleaning
WasteDisposal
Water
Accountancy
ProfessionalFees
BankCharges
Depreciation|**_`2023`_**
**_`2022`_**
_Unrestricted_
_Restricted_
_Total_
_Unrestricted_
_Restricted_
_Total_
£
3,000
£
£
3,000
£
3,250
£
£
3,250
11,972
11,972
13,916
13,916
734
734
788
788
4,516
4.516
3,069
3,069
3,550
3,550
245
245
543
543
521
521
2,860
2,860
3,002
3,002
1,494
1,494
976
976
861
861
854
854
670
670
1,199
1,199
560
1,000
1,560
20
20
20
20
2,972
2,972
2,947
2,947| |---|---| ||29,236
5,516
34,752
30,787
30,787| 8 Doc ID: 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9 ## **THE PIP CENTRE** ## **NOTES TO THE ACCOUNTS - YEAR ENDED 31 MARCH 2023** ## **5. TANGIBLE FIXED ASSETS** |Cost asat1April 2022
Additions
Asat31March2023
**Depreciation**
Asat 1 April2022
Chargefor theperiod
As at 31March2023
**Net bookvalue**
Asat31March2022
**Netbook value**
As at 31March2023|**_Property_**
£
291,117|**_Equipment_**
**_Total_**
£
16,613
£
307,730
199| |---|---|---| ||291,117
63,328
2911|16,812
307,929| |||16,409
79,737
61
2972
16470
82709
204
227,993| ||66239|| ||227,789
224,878|| |||342
225,220| ## **6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |TradeDebtors
Prepayments|**`2023`**
£
1250
1250|**`2022`**
£| |---|---|---| |||| ## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade Creditors
Accruals|**`2023`**
£
1420
1420
1250|**`2022`**
£
675| |---|---|---| |||675| |||| 9 Doc ID: 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9 ## **8. CONTROL** The company was controlled throughout this period by its trustees. The present Trustees are as listed on page 2. ## 7 ## **9. TRUSTEES** The trustees were not remunerated or reimbursed for any expenses during the period. Mrs Claire Newell, daughter in law of trustee Mrs Pauline Newall was paid £3000.00 gross wages during the period as centre coordinator during the year. ## **10. TAXATION** As a charity, The PIP Centre was exempt form tax on income and gains falling within section 505 of the Taxes Act 1988 or 5256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity. ## **11. ANALYSIS OF NET ASSTS BETWEEN FUNDS** |Tangible fixed Assets
CurrentAssets
CurrentLiabilities|**_Unrestricted_**
**_Funds_**
**_Restricted_**
**_Funds_**
**_Total_**
**_Funds_**
225,220
225,220
3,820
4,863
86,683
1,420
1,420| |---|---| ||227,620
4,863
232,483| 10 Doc ID: 90a8d37aa797cdbee5fa90cadd43a5f3fb9980d9