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2021-03-31-accounts

Company Registration Number: 2895804 Charity number: 1075863

PAPERWORKS (HARROGATE) LIMITED

UNAUDITED FINANCIAL STATEMENTS

31 MARCH 2021

(A company limited by guarantee)

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its trustees, and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 20

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Trustees

Steven Williams, Acting Chairman Paul Almond Martin Baum Caroline Foster Sandra Overfield Zahid Tarvaz

Company registered number

2895804

Charity registered number

1075863

Registered office

Unit 5 Limewood Approach, Leeds, West Yorkshire, England, LS14

Company secretary

Caroline Foster

Chief executive officer

Jo Forsey

Accountants

Armstrong Watson Audit Limited, Third Floor, 10 South Parade, Leeds, West Yorkshire, LS1 5QS

Bankers

Lloyds Bank PLC, 8-11 Cambridge Crescent, Harrogate, North Yorkshire, HG1 1PQ

1

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report and the financial statements of the Charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' (FRS 102) in preparing the Trustees' Annual Report and financial statements.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity's governing document, the Charities Act 2011, the Companies Act 2006, and Charities SORP (FRS 102): 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.

Structure, Governance and Management

The company was incorporated on 8 February 1994 as a private company limited by guarantee without share capital. The company was registered as a charity under the Charities Act 1993 on 11 June 1999.

The directors of the company are the trustees of the charity for the purposes of charity law.

Paperworks had a Board of Trustee Directors whose role is to provide strategic direction, set the budget and business plan for the year and approve financial and business decisions where this falls outside the agreed budget and business plan. Operational decision making within the agreed budget and business plan is delegated to the Paperworks Chief Executive and their staff team.

Responsibilities of the Trustees

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under the law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and Applicable law. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the company and of the profit and loss of the company for that period. In preparing the financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence to taking reasonable steps for the prevention and detection of fraud and other irregularities.

Recruitment and Appointment of Trustees

The current trustees are shown on page 1.

2

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

Trustees who served during the year were as follows:

Steven Williams Caroline Foster John Robinson (resigned 3 September 2020) Paul Almond (appointed 3 September 2020) Martin Baum (appointed 3 September 2020) Sandra Overfield (appointed 3 September 2020) Zahid Tarvaz (appointed 22 April 2021)

Trustees are appointed to the Board following an discussion with at least one trustee, attendance at a meeting of the directors. References are taken up where thought appropriate. All appointments are approved by a meeting of the Trustees.

All new Trustees are supplied with a director's pack of information which details their responsibilities and duties. They attend on the premises both before and after appointment to gain an understanding of the activities and working practices of the company.

The Trustees confirm that the major risks, to which the company is exposed, as identified by the trustees, have been reviewed and systems established to mitigate those risks. It is the policy of the company that a full risk assessment is carried out for every new contract or initiative that the company enters into. This includes the acceptance of any new trainee.

Objectives and Activities

The objective of this company is to assist people with learning or physical disabilities through educational and vocational training to improve their skills.

Trainees are referred for placements with the company through Social Services, Jobcentre Plus and other referral sources. They receive training in a working environment and work together with staff to deliver a variety of sources to our commercial partners. The trainees are assisted by a number of volunteers.

The Trustees confirm that they have referred to the Charity Commission's general guidance on public benefit, when reviewing the charity's aims and objectives and in planning future activities, and they consider these activities are for public benefit. There are a sufficient number of potential trainees in the area within reach of our premises and local authority funding enables training for those who could not personally pay the charges.

Achievements and Performance in 2021

Paperworks continues to provide training, learning opportunities and work experience for adults with learning disabilities, autism and other complex needs. We do this through real work for real customers as well as a range of wellbeing activities and project work.

This year was unprecedented with a number of lockdowns the first of which began the year as the Covid pandemic hit at the end of March 2020. Paperworks closed on both sites as advised by the local authority and government. However, our first thoughts as always were to how to adapt and continue to provide support in some form so that the effects of this would be minimised for those we support. We therefore set up weekly phone calls and Zoom chats. We also developed a weekly pack of activities which were sent home and really provided a lifeline. This worked so well that we also supported others in the community such as supported living and community groups. We reopened for commercial clients in June, working on a skeleton staff through accessing the furlough scheme to deliver work. In September the Leeds site was able to open. A comprehensive Risk assessment was provided for the Local Authority as evidence we were Covid secure and this enabled us to open for trainees, all be it on a graduated basis of one day per week. Unfortunately, in December there was another lockdown but we were able to open again in the New Year. Our risk assessments and approach has been used as a benchmark in the sector of how things should be done which is a great credit to the team. North Yorkshire County Council, working under different guidelines granted our opening in the next financial year.

During lockdown we were unable to open for more places due to social guideline restrictions. However, once this was lifted fully towards the end of the financial year we received a number of new referrals with very solid predictions of numbers for Leeds site. Our reputation has increased considerably and there is now a regular flow of communication between local colleges and social care. This is bridging the gap between child and adult

3

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

funding. Our Harrogate site had a change of premises, moving from our Hammerain House site to a temporary site in Copton Hewick until 2022 when a more permanent base will be found. This allows for more activities and space to increase trainee numbers.

We are grateful to North Yorkshire County Council and Leeds City Council and other funders that have provided funding for remote services during periods of lockdown, enabling us to continue to support trainees and to open on site services again when safe to do so.

Even though lockdown for many businesses was difficult, the clients we currently have were able to adapt and orders continued to come through. New ranges were introduced which have continued to thrive. We also had a number of new clients increasing the range of experiences we can offer trainees. Our right first time rate again reaches 99.7% and is a testament to the diligence of staff and the processes in place.

Future plans

Financial review

The charity recorded a surplus for the year of £21,394. This compares with a surplus of £14,638 in the previous year and follows several years where deficits were incurred which eroded the reserves position.

Our income was marginally higher than the previous year at £366,862 (2020: £358,065). However, the composition was quite different in 2021 due to the Covid-19 pandemic with income from Government Grants of £104,433 offsetting reductions in income from charitable activities and other areas. We were able to continue to provide remote services to trainees in both the Leeds and North Yorkshire areas, both funded by local authorities. However, contributions from commercial partners were reduced as our many of partners experienced operational difficulties in lockdown and we were restricted to remote service provision.

Expenditure of £345,468 (2020: £343,427) was overall marginally higher in 2021 compared with the prior year. However, included in these costs in 2020/2021 is £16,000 of exceptional lease related costs which will not recur. The majority of these costs related to the exit of the lease of premises in Harrogate. We chose to not renew the lease in Harrogate. New arrangements for our Harrogate/North Yorkshire services provide a more flexible operating base which should deliver cost savings in the future whilst still maintaining an effective service provision.

The year-end financial position is shown in the balance sheet on page 8. Overall reserves were £70,917 at 31 March 2021. Unrestricted reserves were £57,789, which includes £3,297 of unrestricted tangible fixed assets, resulting in free reserves of £54,492.

In light of the pandemic we took out a Covid Bounceback loan of £20,000 early in the financial year in the event that the charity was unable to provide funded services for a prolonged period. Whilst the loan was drawn down we were able to carry on providing funded remote services during lockdown, albeit with reduced contributions from commercial partners, and cash balances have never been lower than the loan amount. As services have returned to more normal levels we now do not anticipated needing the loan. A decision will be taken on early repayment in due course.

Careful overall cost management and continued support by funders has enabled us to rebuild reserves over the past two years which provides a more sustainable base to operate the charity from and gives opportunity for future potential investment where we believe prudent and effective to do so.

Further information on our reserves policy is given on page 5 and on the current financial position is given in the

4

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

going concern accounting policy on page 9.

Key risks

The Trustees consider the key risks facing the charity and its reserves policy annually. The review incorporates a consideration of the financial impact of risks that the charity is exposed to and seeks to set a reserves level that protects Paperworks against a realistic assessment of the likelihood of the identified risks materialising. In considering the reserves policy, the Trustees also have regard for the need to balance risk protection against maximising charitable output in line with the objectives of Paperworks.

The key risks identified include:

Reserves policy

The Trustees have quantified the risks outlined above based on a consideration of the likelihood and impact of the risk arising and have determined that the charity should target a reserves level of £50,000. The year-end free reserves position (excluding restricted funds and any funds held as fixed assets) was marginally above this, at £54,492.

Going concern

The financial statements are prepared on a going concern basis under the historical cost convention. In making the assessment around going concern the Trustees have considered the financial position of the charity, the risks that the charity faces and the level of reserves held. Further information is in the Going Concern Accounting Policy on page 9.

Steven Williams Acting Chairman 15 December 2021

5

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PAPERWORKS (HARROGATE) LIMITED (the 'company')

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2021.

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA which is one of the listed bodies.

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Dated: December 2021 15

Simon Turner Armstrong Watson Audit Limited Leeds

6

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Note
INCOME FROM:
Donations and legacies
2
Donations
Government Grants and Support
Charitable activities:
3
Contribution from social care providers
Contribution from commercial partners
Investments:
4
Interest receivable
Other income
TOTAL INCOME
EXPENDITURE ON:
Costs of generating funds:
Fundraising
Charitable activities:
Training programme
5
Other expenditure:
TOTAL EXPENDITURE
NET EXPENDITURE BEFORE OTHER
RECOGNISED GAINS AND LOSSES
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
Restricted
funds
Total
funds
Total
funds
2021
£
2021
£
2021
£
2020
£


445 -
445
529
104,433
104,433
16,494
214,220
-
214,220
244,147
46,164
-
46,164
67,649
9
-
9
10
1,591
-
1,591
29,236
366,862
-
366,862
358,065
-
-
-
-
344,010
1,458
345,468
343,427
-
-
-
-
344,010
1,458
345,468
343,427
22,852
(1,458)
21,394
14,638
22,852
(1,458)
21,394
14,638

34,937
14,586
49,523
34,885
57,789
13,128
70,917
49,523

The notes on pages 9 to 20 form part of these financial statements.

7

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

BALANCE SHEET AS AT 31 MARCH 2021

Note
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
CREDITORS:amounts falling due within one
year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:amounts falling due after more
than one year
11
NET ASSETS
CHARITY FUNDS
Restricted funds
12
Unrestricted funds
12
TOTAL FUNDS		 2021
£
40,938
69,091		 2020
£
£
16,423
25,304
21,351
46,655
(17,939)
73,494
89,917
(19,000)
70,917
13,128
57,789
70,917		 £
20,807
28,716
110,029
(36,535)
49,523
-
49,523
14,586
34,937
49,523

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

The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 15 December 2021 and signed on their behalf, by:

Steven Williams, Acting Chairman

The notes on pages 9 to 20 form part of these financial statements.

8

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

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) (2018) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Paperworks (Harrogate) Limited 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.

The financial statements are prepared in sterling which is the functional currency of the Charity and rounded to the nearest £1.

The exemption has been taken from preparing a cash flow statement on the grounds that the charity is a small charity.

The company is exempt from tax under Sections 466 to 493 Corporation Taxes Act 2010 as long as income is applied for charitable purposes only.

1.2 Going concern

The financial statements are prepared on a going concern basis under the historical cost convention. In making this assessment the Directors have considered the financial risks, and the impact of the Covid-19 pandemic, summarised on pages 4 and 5.

The Trustees’ Report summarises the financial position of the charity at 31 March 2021, the impact of the Covid-19 pandemic since the year end and the future prospects for the charity. Through careful cost management the charity has been able to further add to reserves since 31 March 2021.

The Trustees have prepared a budget for the remainder of the 2021/22 financial year which shows that the budgeted income of the charity is expected to cover its costs, and this stability is expected to continue beyond the end of the 2022 financial year.

The Trustees have considered the level of uncertainty that exists and have concluded that the possibility that the charity cannot pay its debts as they fall due for a period of at least 12 months is remote, and accordingly that no material uncertainty over going concern exists.

1.3 Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1.

1.4 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants receivable are recognised in the statement of Financial Activities when receivable. Grants related to performance and specific deliverables are accounted for as the charity earns the right to consideration by its performance.

Bank interest and all other income resources are included when receivable.

9

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.

Costs of generating funds include those of generating donations and fundraising activities.

Direct charitable expenditure included the direct costs of the activities and depreciation on related assets. Where such costs relate to more than one functional cost category, they have been split on either an estimated time or floor space, as appropriate.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the fees and costs linked to the strategic management of the charity.

Costs of generating funds include those of generating donations and fundraising activities.

Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

1.6 Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Long-term leasehold property - over the period of the lease Plant and machinery - 25% straight line basis Motor vehicles - 20% straight line basis Fixtures and fittings - 33%-100% straight line basis Office equipment - 33%-100% straight line basis

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

10

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.11 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.12 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

1.13 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 company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

11

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. INCOME FROM DONATIONS AND LEGACIES

Donations
Grants
Total donations and legacies
Total 2020

3.
INCOME FROM CHARITABLE ACTIVITIES		 Unrestricted
funds
Restricted
funds
2021
£
2021
£
445
-
104,433
-		 Total
funds
Total
funds
2021
£
2020
£

445
529
104,433
16,494
104,878
-
104,878
17,023
529
16,494
17,023
Contribution from social care providers
Contribution from commercial partners
Total 2020
 Unrestricted
funds
Restricted
funds
2021
£
2021
£
214,220
-
46,164
-		 Total
funds
Total
funds
2021
£
2020
£
214,220
244,147
46,164
67,649
260,384
-
260,384
311,796
311,796
-
311,796

4. INVESTMENT INCOME

Investment receivable
Total 2020
 Unrestricted
funds
Restricted
funds
2021
£
2021
£
9
-		 Total
funds
Total
funds
2021
£
2020
£

9
10
10
-
10

12

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

5. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE

Costs of raising funds:
Expenditure on raising
voluntary income
Costs of raising funds
Charitable activities:
Charitable activity
Other expenditure
Total 2020
 Staff costs Depreciation Other costs
2021
£
2021
£
2021
£
-
-
-		 Total
Total
2021
£
2020
£
-
-
-
-
-
208,209
4,583
132,676
-
--		 -
-

345,468
343,427
-
-
208,209
4,583
132,676
345,468
343,427
198,710
3,545
141,172		 343,427

Other costs

Rent and other associated costs
Marketing and bad debts
Communication & other costs
Other property costs
Recruitment, Consultancy and other staff related costs
Loan and hire purchase interest
Property Repairs and flood damage
Exceptional lease costs
Other direct costs
Total		 2021
£
2020
£
46,970
41,153
(760)
846
38,171
41,689
15,544
13,527
6
10,200
616
1,026

4,682
12,592
16,000
-
11,447
20,139
132,676
141,172

In the opinion of the Trustees charitable activities comprise one activity which is the provision of educational and vocational training for people with physical and learning disabilities.

Included within charitable expenditure above is restricted expenditure of £1,458 (2020: £17,952) comprising staff costs of £nil (2020: £16,494) and depreciation of £1,458 (2020: £1,458).

Included within charitable expenditure is £39,010 (2020: 54,293) of support costs, of which approximately £21,000 related to staff costs and £750 was governance costs.

13

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6. NET INCOME/(EXPENDITURE)

This is stated after charging:

Depreciation of tangible fixed assets:
- owned by the charity
Independent examination fees		 2021
2020
£
£
4,584
3,545
750
1,200

During the year, no Trustees received any remuneration (2020 - £NIL). During the year, no Trustees received any benefits in kind (2020 - £NIL). During the year, no Trustees received any reimbursement of expenses (2020 - £NIL).

7. STAFF COSTS

Staff costs were as follows:

Wages and salaries
Social security costs
Other pension costs		 2021
2020
£
£
177,208
175,327
14,757
13,935
15,240
9,839
207,205
199,101

The average number of persons employed by the company during the year was as follows:

Average number of employees 2021
2020
No.
No.
10
10

No employee received remuneration amounting to more than £60,000 in either year.

14

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

8. 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
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		 Long-term
leasehold
property
(Restricted
fund)
Plant and
machinery
(Unrestricted
fund)
Motor vehicles
(Unrestricted
fund)
£
£
£
21,877
6,600
22,250
-
-		 Long-term
leasehold
property
(Restricted
fund)
Plant and
machinery
(Unrestricted
fund)
Motor vehicles
(Unrestricted
fund)
£
£
£
21,877
6,600
22,250
-
-		 Long-term
leasehold
property
(Restricted
fund)
Plant and
machinery
(Unrestricted
fund)
Motor vehicles
(Unrestricted
fund)
£
£
£
21,877
6,600
22,250
-
-		 Fixtures and
fittings
(Restricted
fund)
£
7,734
-
21,877 6,600 22,250 7,734
7,291
1,458		 3,078
2,201		 22,250
-		 7,734
-
8,749 5,279 22,250 7,734
13,128 1,321 - -
14,586 3,522 - -
Office
equipment
(Restricted)
£
2,737
-		 Office
equipment
Total
(unrestricted)
£
£
2,775
63,973
200
200
2,737 2,975
64,173
2,737
-
76
43,166
925
4,584
2,737 -
1,001
47,750
- 1,974
16,423
- 2,699
20,807

15

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

9. DEBTORS

Trade debtors
Other debtors
Prepayments and accrued income		 2021
2020
£
£
30,075
21,279
9,098
1,766
1,765
2,259
40,938
25,304

10. CREDITORS: Amounts falling due within one year

Other loans
Trade creditors
Other taxation and social security
Accruals and deferred income
Deferred Grants income		 2021
2020
£
£
2,449
3,753
9,693
4,339
797
9,247
20,060
600
3,536
-
36,535
17,939

The other loans include loans secured over the property of the company by way of fixed and floating charges.

11. CREDITORS: Amounts falling due after more than one year

Other loans
Included within the above are amounts falling due as follows:
Between one and two years
Between two and five years
Over five years		 2021
2020
£
£
19,000
-
2021
2020
£
£
4,000
-
13,000
-
2,000
-
19,000
-

The other loans include loans secured over the property of the company by way of fixed and floating charges.

16

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Unrestricted funds
Unrestricted
Restricted funds
Jimbos
Total of funds		 Balance at
1 April 2020
Income Expenditure
Balance at
31 March
2021
£
£
£
£
34,937
366,862
(344,010)
57,789
34,937
366,862
(344,010)
57,789
14,586
-
(1,458)
13,128
14,586
-
(1,458)
13,128
49,523
366,862
(345,468)
70,917

17

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12. STATEMENT OF FUNDS (continued)

STATEMENT OF FUNDS - PRIOR YEAR

Unrestricted funds
Restricted funds
Jimbos
Awards for All
Total of funds		 Balance at
1st April
2019
Income
Expenditure
Balance at
31 March
2020
£
£
£
£
18,841
341,571 (325,475)
34,937
18,841
341,571
(325,475)
34,937
16,044
-
(1,458)
14,586
-
16,494
(16,494)
-
16,044
16,494
(17,952)
14,586
34,885
358,065
(343,427)
49,523

Overview of restricted funds

The Jimbo funds have been invested in equipment and improvements for the new building, which has been capitalised and the net book value of these items is carried forward as restricted funds.

SUMMARY OF FUNDS - CURRENT YEAR

General funds
Restricted funds
Total of funds		 Balance at
1 April 2020
Income Expenditure
Balance at
31 March
2021
£
£
£
£
34,937
366,862
(344,010)
57,789
14,586-
(1,458)
13,128
49,523
366,862
(345,468)
70,917

18

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12. STATEMENT OF FUNDS (continued)

General funds
Restricted funds
Total of funds		 Balance at 1
April 2019
Income Expenditure
Balance at
31 March
2020
£
£
£
£
18,841
341,571
(325,475)
34,937
16,044
16,494
(17,952)
14,586
34,885
358,065
(343,427)
49,523

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
Restricted
funds
Total
funds
2021
£
2021
£
2021
£
3,295
13,128
16,423
110,029
-
110,029
(35,535)
-
(35,535)
(20,000)
-
(20,000)
57,789
13,128
70,917

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
Restricted
funds
Total
funds
2020
£
2020
£
2020
£
6,221
14,586
20,807
46,655
-
46,655
(17,939)
-
(17,939)
-
-
-
34,937
14,586
49,523

14. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £15,240 (2020 - £9,893). No contributions were payable to the fund at the balance sheet date in this and the previous year.

19

PAPERWORKS (HARROGATE) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

15. OPERATING LEASE COMMITMENTS

At 31 March 2021 the total of the Charity’s future minimum lease payments under non-cancellable operating leases was:

Amounts payable:
Within 1 year
Between 1 and 5 years
After 5 years
Total		 2021
2020
£
£
35,830
41,750
98,418
114,750
-
4,583
134,248
161,083

16. RELATED PARTY TRANSACTIONS

There were no related party transactions to disclose during the year.

17. CONTROL RELATIONSHIPS

No single Trustee or group of associated Trustees has control of the company.

18. SHARE CAPITAL

The company is limited by guarantee and has no share capital.

20