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2021-03-31-accounts

Charity Registration No. 1075692

Company Registration No. 3683014 (England and Wales)

TRINITY ACTIVITIES

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

TRINITY ACTIVITIES

LEGAL AND ADMINISTRATIVE INFORMATION

Directors
Directors J Cannon
M Crane (Resigned 23 April 2020)
F Garrod (Chairman)
D Graham (Resigned 7 December 2020)
C A Hashimi (Appointed 26 October 2020)
J Hicklin
P Soares
N Valois (Appointed 26 October 2020)
R Waite
Secretary S Hedley
Charity number 1075692
Company number 3683014
Principal address Redford House
Redford Way
Uxbridge
Middlesex
UB8 1SZ
Auditor Cansdales Audit LLP
Bourbon Court
Nightingales Corner
Little Chalfont
Bucks
HP7 9QS
Bankers The Co-Operative Bank
P.O. Box 250
Delf House
Skelmersdale
WN8 6WT

TRINITY ACTIVITIES

CONTENTS

Page
Directors' report 1 - 3
Statement of Directors' responsibilities
Independent auditor's report 4 - 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 10 - 18

TRINITY ACTIVITIES

DIRECTORS REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The Directors present their report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the Charity'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 (FRS 102) (effective 1 January 2019)” .

Objectives and activities

Trinity Activities is a charitable company limited by guarantee, of which Trinity Homeless Projects is the sole member. The charitable company was set up to provide supported employment and training for people who are socially excluded.

Public benefit

In accordance with the above objectives for this year, and with due regard to the published Charity Commission guidance on the operation of the Public Benefit requirement of the Charities Act 2011, the Directors have undertaken appropriate activities in furtherance of those aims for the public benefit. This year's activities, achievements and future plans are summarised below.

Achievements and performance

Enforced Closure, Furlough, Covid Grants and our appetite for change

Our furniture stores have been closed for half the year.

Our shops lay empty, our vans idle and our staff napped in the afternoons. Sure we were saving a bit and the furlough scheme helped, we also decided to pay everyone’s full salary, it wasn’t their fault they couldn’t work. Homeless Link recognised that Social Businesses run by ‘homeless charities’ had a direct effect on homelessness so gave us a grant to cover our initial losses, and we restructure d our budget and planned for a downturn in revenues. We even wondered if we would still have a business as the mood of the nation was hard to read.

We ran a skeleton team providing services to the Local Authority as people were still moving into empty homes and then we reopened to record sales. It seems that people, maybe with cash saved from the daily commute and designer coffee, had been in lockdown planning home makeovers and we were inundated with donations of furniture. It was quite a shock to staff who were more used to an afternoon nap.

FUTURE PLANS

After this year we are looking to consolidate our position, both in our local market and financially to establish stability going forward, so we have no plans for development or expansion in this coming year.

Financial review

The statement of financial activities shows a surplus for the year of £ 85,410 without making any donation to our parent charity (20 20 : 79,183 ).

At 31 March 20 21 , total funds were £ 75,380 in Surplus (20 20 : £ 10,031 in deficit), of this £ 0 (20 20 : £ 0 ) related to restricted funds.

Reserves policy

The directors have reviewed the charitable company’s needs for reserves in line with the guidance issued by the Charity Commission. They have established a policy whereby the free reserves (that is those reserves not invested in fixed assets or designated and restricted funds) held by the charitable company should be equal to 12 weeks general operating costs. This equates to approximately £86,000 in general funds. This target has not been achieved. However the directors are continuing to improve the surplus reserves and with continued investment in development we plan to be fully compliant with our policy within two years .

TRINITY ACTIVITIES

DIRECTORS REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Investment policy

Under the Memorandum and Articles of Association, the charitable company has the power to make any investment which the directors see fit.

Risk review

The Senior Management Team reviews the Risk Mitigation Plan monthly and report to the Board on this quarterly. The majority of the income comes from sales in the charity shops. There is a reliance placed on people donating large items to the shops. Should this stop or reduce this will have an impact on the income. In order to mitigate this risk we stockpile some of the donated items so that the shop is not empty in down times. There have also been fundraising days and events and we hope to continue with these.

Another risk for the charity is the increasing competition due to new entrants into the market. This may lead to us losing customers to these competitors which would reduce the income of the charity. To mitigate this risk, the directors monitor the market to note any significant competition and are prepared, if necessary, to adjust the staffing structure in line with the current market conditions.

Structure, governance and management

The directors of the charitable company, who are directors for the purposes of company law and trustees for the purposes of charity law, who served during the year and to date were:

J Cannon M Crane (Resigned 23 April 2020) F Garrod (Chairman) D Graham (Resigned 07 December 2020) C A Hashimi (Appointed 26 October 2020) J Hicklin P Soares N Valois (Appointed 26 October 2020) R Waite

Under the Articles of Association, directors are to be appointed by Trinity Homeless Projects.

Trinity Homeless Projects is the sole member of the charitable company and may have a liability of £1 in the event of the charitable company being liquidated whilst it is a member or within one year of it ceasing to be a member.

The Directors have confirmed that they have an awareness and understanding of their legal responsibilities as summarised in the NVCO publication, “The 12 Essential Board Responsibilities” and their training needs are kept under review accordingly.

The Directors have delegated day to day management of the charitable company to Steve Hedley, who provides a written report to each meeting of the directors, which are held approximately quarterly and is also in regular contact with directors between meetings.

Appointment of directors

Trinity usually have eight or nine Trustees.

The recruitment process is run by the Chair of Trustees and overseen by the CEO. The Board identifies the skills which it needs within it, and then actively seeks people with these skills to apply to become a Trustee of the charity. Candidates are required to complete an application form setting out details about themselves and their suitability for Trusteeship. These applications are treated on a confidential basis, reviewed by the Chair of Trustees and the CEO and matched against the skills criteria established by the Board. Prospective Trustees are invited to attend a number of Board Meetings as an observer.

TRINITY ACTIVITIES

DIRECTORS REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Directors' training

Because poor governance costs more than learning to govern well, the Board invests in its governance capacity. Training and re-training is used to orient new members as well as increase existing members’ skills and understandings. Both Chair and Vice Chair receive specific training regarding chairing meetings and the Board attend an annual day away. Outside monitoring assistance is also arranged so that the Board can exercise confident control over organisational performance, including but not limited to fiscal audit. Mechanisms are used to ensure the Board’s ability to listen to the beneficiaries view points and values. Governance costs are prudent though not at the expense of endangering the development and maintenance of superior capability of the Board.

Statement of Director's Responsibilities

The directors, who also act as trustees for the charitable activities of Trinity Activities, are responsible for preparing the Directors Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Directors 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, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping adequate 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 Companies Act 2006. They 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.

Auditor

In accordance with the company's articles, a resolution proposing that Cansdales Audit LLP be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the Directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Directors r eport was approved by the Board of Directors.

F Garrord

Dated: 20 December 2021

TRINITY ACTIVITIES

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF TRINITY ACTIVITIES

Opinion

We have audited the financial statements of Trinity Activities (the ‘Charity’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) .

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and , except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

TRINITY ACTIVITIES

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF TRINITY ACTIVITIES

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors ' r eport included within the Directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Directors

As explained more fully in the s tatement of Directors' r esponsibilities, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Directors are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

TRINITY ACTIVITIES

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF TRINITY ACTIVITIES

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

James Foskett

(Senior Statutory Auditor)

for and on behalf of Cansdales Audit LLP

Chartered Accountants Bourbon Court Statutory Auditor Nightingales Corner Little Chalfont Date : 21 December 2021 Bucks

Date : 21 December 2021

HP7 9QS

TRINITY ACTIVITIES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
Restricted
funds
funds
Notes
£
£
Income from:
Donations and legacies
3
139,108
-
Charitable activities
322,470
-
Investments
-
-
Total income
461,578
-
Expenditure on:
Raising funds
4
3,465
-
Charitable activities
5
371,725
978
Total expenditure
375,190
978
Net incoming/(outgoing) resources before
transfers
86,388
(978)
Gross transfers between funds
(978)
978
Net income / (expenditure)
Net movement in funds
85,410
-
Fund balances at 1 April 2020
(10,031)
-
Fund balances at 31 March 2021
75,379
-		 Total
2021
£
139,108
322,470
-
461,578
3,465
372,703
376,168
85,410
-
85,410
(10,031)
75,379		 Total
2020
£
49,766
469,554
4
519,324
16,271
423,870
440,141
79,183
-
79,183
(89,214)
(10,031)

All of the charitable company's activities are classed as continuing.

There were no recognised gains or losses other than the result for the year.

All income and expenditure in 2021 was classed as unrestricted except for the Covid-19 expense.

TRINITY ACTIVITIES

BALANCE SHEET

AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
12
Net assets/(liabilities)
Income funds
Restricted funds
10
Unrestricted funds		 2021
£
£
27,690
29,040
342,598
371,638
113,568
258,070
285,760
(210,381)
75,379
-
75,379
75,379		 2020
£
£
36,668
18,258
227,258
245,516
52,479
193,037
229,705
(239,736)
(10,031)
-
(10,031)
(10,031)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 20 December 2021 and are signed on its behalf by:

F Garrord

Director

Company Registration No. 3683014

TRINITY ACTIVITIES

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Financing activities
Proceeds from borrowings
Repayment of borrowings
Net cash (used in)/generated from financing
activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
-
-
-
(19,259)		 £
134,599
-
(19,259)
115,340
227,258
342,598		 2020
£
(36,955)
4
33,068		 £
151,780
(36,951)
33,068
147,897
79,361
227,258

TRINITY ACTIVITIES

STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

1
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase in creditors
Cash generated from operations		 2021
£
85,410
-
8,978
(10,782)
50,993
134,599		 2020
£
79,185
(4)
15,593
7,994
49,012
151,780

2 Accounting policies

Company information

Trinity Activities is a charitable company limited by guarantee incorporated in England and Wales. The address of the registered office is given on the legal and administrative information page. The nature of the charity's operations and principal activities are to provide jobs in its furniture shops, good quality, affordable furniture to low income families and the local community and voluntary placements to local agencies as a pathway to employment for disadvantaged people.

2.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company'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 (FRS 102)” (as amended for accounting periods commencing from 1 January 201 9 ). The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the charitable company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2 Going concern

The charitable company is not dependent on its parent company, Trinity Homeless Projects, as it is generating both gross and net profits which enable it to meet all of its day to day liabilities as they fall due. However, there is a long term loan due to Trinity Homeless Projects which is being repaid in instalments. Thus, the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

2.3 Charitable funds

Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the directors.

Designated funds – these are funds set aside by the directors out of unrestricted general funds for specific future purposes or projects.

TRINITY ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2 Accounting policies

(Continued)

Restricted funds – these are funds which can only be used for particular purposes within the objects of the charitable company. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

The directors make transfers between funds when expenditure of a restricted nature is to be met from more than one type of fund. The maximum level of these transfers is agreed by the directors prior to the expenditure.

The nature and purpose of each fund is explained further in the notes to the financial statements.

2.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is more likely than not that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Gifts donated for resale are included as income when they are sold. No amounts are included in the financial statements for services donated by volunteers. Other gifts in kind are included at their estimated value to the charitable company at the time of receipt.

2.5 Expenditure

Expenditure is accounted for on an accruals basis, exclusive of VAT. Certain expenditure is directly attributable to specific activities and has been allocated to those cost categories. Where these costs are attributable to more than one activity, they have been apportioned to the individual activities on the basis of the time spent by staff on matters relating to those activities. Central support costs have been allocated on the basis of resources used and have been apportioned to the cost centres of fundraising and publicity, individual projects within charitable expenditure and governance costs in accordance with the requirements of the SORP. Governance costs comprise all costs relating to the public accountability of the charitable company and its compliance with regulation and good practice. These costs include costs relating to the statutory audit.

2.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements Over the remaining term of the lease Fixtures and fittings Straight line over 8 years Motor vehicles 25% on Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

TRINITY ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

2 Accounting policies

(Continued)

2.7 Stocks

Purchased stock is held at the lower of cost and net realisable value.

Donated stock, comprising of furniture donated from individuals, does not have a value until sold. The charitable company does not know how much they will sell the stock for until it is sold, and as they operate a retail gift aid scheme some of the stock in the shops belongs to third parties. Therefore, it is not practical to include a value for donated stock in the financial statements .

2.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.9 Taxation

The charitable company is a registered charity within the definitions of section 506(1) Income and Corporation Taxes Act 1988 and therefore it is not assessable to corporation tax on any surplus charitable funds.

2.10 Retirement benefits

The Charity operates a defined contribution pension scheme on behalf of its employees. The assets of the schemes are held separately from those of the charitable company in independently administered funds. The annual contributions paid to both schemes are charged against income in the year to which they relate.

2.11 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2.12 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

2.13 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

TRINITY ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

3
4		 Donations and legacies
UnrestrictedUnrestricted
funds
funds
2021
2020
£
£
Donations and gifts
-
35,766
Grant received
139,108
14,000
139,108
49,766
Raising funds
2021
2020
£
£
Fundraising and publicity
Advertising
3,465
16,271
3,465
16,271		 Donations and legacies
UnrestrictedUnrestricted
funds
funds
2021
2020
£
£
Donations and gifts
-
35,766
Grant received
139,108
14,000
139,108
49,766
Raising funds
2021
2020
£
£
Fundraising and publicity
Advertising
3,465
16,271
3,465
16,271
49,766
2020
£
16,271
16,271

TRINITY ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

5 Charitable activities

Direct costs Support costs
£
£
Staff costs
229,272
-
Other costs
1,228
13,403
Shop running costs
49,675
-
Insurance
5,911
-
Van running costs
31,438
-
Depreciation
8,978
-
Administrative expenditure
22,894
-
Auditor's remuneration
-
4,720
Auditor's remuneration for non audit services
-
1,435
Governance costs
-
853
Bank charges
-
2,896
349,396
23,307
For the year ended 31 March 2020
403,264
20,606		 Total
2021
£
229,272
14,631
49,675
5,911
31,438
8,978
22,894
4,720
1,435
853
2,896
372,703		 Total
2020
£
228,552
10,583
51,434
4,593
29,344
15,592
71,108
3,120
1,395
2,004
6,145
423,870
423,870

6 Employees

The average monthly number of employees during the year was:

Full time staff members
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
9
2021
£
209,539
12,851
6,882
229,272		 2020
Number
11
2020
£
208,829
13,022
6,701
228,552

TRINITY ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

6 Employees

(Continued)

The directors are considered to be the key management of the charity and they received no remuneration (20 20 : Nil), together with the Senior Management Team of the parent charity. The Senior Management Team are remunerated by the parent charity and receive no remuneration from Trinity Activities (20 20 : Nil).

No amounts were reimbursed to directors for expenses (20 20 : Nil).

There were no employees whose annual remuneration was £60,000 or more.

7 Post balance Sheet Events

During the year, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide. As a result some business operations have been restricted, however the Charitable company continues to operate using alternative methods and remote working. The directors are unable to evaluate the overall financial impact on the business at present. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act to the current changing environment in order to position the company to ensure its future success.

8 Tangible fixed assets

Leasehold
improvements
Fixtures and
fittings
Motor
vechicles
£
£
£
Cost
At 1 April 2020
148,214
10,597
4,380
At 31 March 2021
148,214
10,597
4,380
Depreciation and impairment
At 1 April 2020
114,954
9,333
2,236
Depreciation charged in the year
7,391
492
1,095
At 31 March 2021
122,345
9,825
3,331
Carrying amount
At 31 March 2021
25,869
772
1,049
At 31 March 2020
33,260
1,264
2,144
Debtors
2021
Amounts falling due within one year:
£
Trade debtors
2,565
Other debtors
11,890
Prepayments and accrued income
14,585
29,040		 Total
£
163,191
163,191
126,523
8,978
135,501
27,690
36,668
2020
£
2,565
10,533
5,160
18,258

9 Debtors

TRINITY ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

10 Loans and overdrafts

Other loans
Loans from parent undertaking
Payable within one year
Payable after one year		 2021
£
34,339
205,300
239,639
29,258
210,381		 2020
£
43,333
215,565
258,898
19,162
239,736

On 2nd August 2010, the directors of Trinity Activities and Trinity Homeless Projects, the parent company, agreed to convert the intercompany balance between the two charitable companies at that date into a long term interest free loan. The repayment terms of the loan are that the loan is repayable in equal annual instalments over a period of 27 years from 31 March 2014 . The balance due in more than 5 years is £1 53,975 (2020: £ 164,240).

A nother loan of £56,000 was provided by Homeless Link Social Investment Fund Committee on the 1st July 2019 for 48 months at an interest rate of 8% .

11 Creditors: amounts falling due within one year

Note
Borrowings
10
Trade creditors
Amounts due to fellow group undertakings
Other creditors
Accruals and deferred income
12
Creditors: amounts falling due after more than one year
Note
Borrowings
10		 2021
£
29,258
1,891
63,254
5,667
13,498
113,568
2021
£
210,381		 2020
£
19,162
3,594
7,090
4,887
17,746
52,479
2020
£
239,736

TRINITY ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

13 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances held for specific purposes:

Movement in funds Movement in funds
Balance at Income Expenditure Transfers
Balance at
1 April 2020 31 March 2021
£ £ £ £
£
Covid-19 expenses - - (978) 978
-

Specific expenses incurred for Covid-19 classified under Restricted funds.

14 Operating lease commitments

At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
In over five years		 2021
£
53,951
187,467
157,500
398,918		 2020
£
53,951
209,868
202,500
466,319

15 Pension scheme

The Charity operates a defined contribution pension scheme on behalf of its employees. The assets of the scheme are held separately from those of the Charity. At 31 March 20 21 there were outstanding contributions of £ 527 (20 20 : £ 778 ).

16 Ultimate controlling party

The ultimate controlling party is Trinity Homeless Projects, a company limited by guarantee registered in England, number 6047635, and a registered charity, number 1118222, which is the sole member of the charitable company. It's principal activity is that of providing housing to homeless people. Consolidated financial statements can be found on the Companies House website.

TRINITY ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

17 Related party transactions

No payments were made in respect of any directors or their connected persons.

At 31 March 20 21 , Trinity Activities had a balance of £ 205,300 (20 20 : £2 15,565 ) payable to Trinity Homeless Projects, the parent and ultimate controlling party of Trinity Activities, which related to a long term loan. There was also a balance of £ 63,004 payable to (20 20 : £ 7,090 ) Trinity Homeless Projects due to an excess in cash transferred for transactions, expenses incurred, management charge and donations which had arisen in the year.

Trinity Homeless Projects raised a management charge of £ 22,894 (20 20 : £ 71,108 ) to cover the cost of running Trinity Activities in the year. This amount is shown within administrative expenditure in the charitable expenditure note within the Trinity Activities financial statements.

Trinity Activities made a donation of Nil (20 20 : £ Nil ) to Trinity Homeless Projects for the year ended 31 March 20 21 .