SPARK Registered Charity 1077587 ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 March 2022
SPARK Annual Report 31 March 2022 TRUSTEES REPORT REFERERENCE AND ADMINISTRATIVE INFORMATION R8gistered Charfty No. Charity cortart name.. Charity conta¢t addre. charityMa 8ddrw: Ch817ty websitw. 1077587 Mr Nick Frar¢¢L8 48 Alberta Close, Kesgrave, Ipswch IP5 1 H8 Unit 5 Ropes Drtve, Twelve Acre Approach, Ke5grave. Ipswich, IP5 2ET http'.IlvwM.kesgrave.org.ukJspark Trustees ot 31 March 2022 D8t• Appolnted 26 February 2013 Mrs Mdly Amot Mr Paul Carr 20 July 2020 Mr8 Angela Finch - 18 November2013 Mr8 Judlth Francls- 9 April 2018 Mr NiGhola$ Fran¢i$ 20 April 2020 Ms Joanne TllllThJhast 20 April 2020 Mr Ashley Jordan 7 April 2014 Mr Patrfc% Mlll8- 20 April 1999 Mrs Tlna Shute 8 Ap[ 2019 Mr David Stffivard- 7 Aprfl 2014 Dr K8lth Stewart Young - 14 October 2011 ReglBtered suihorised 8ign#lDrf&8 to 4GI boh81f of lh• Trugt•a8. Cu81odian Tw8ts0 Kesgravo Tovm CounrAI Prof¢sslon•l Advlsors 88nkers CAF Bank Ltd, 25 n9& Hlll Avenu8, Klnga Hlll, Wgst Malllng, Kent ME19 4JQ Santander. Bridle Rd, Bootle. MeTsey8lde, L30 4GB Hampshlrè Trttsi Bank plc, 131 Finsbury Pavement. L[On, EC2A INT M&G Charitses. PO Box 9038. Chelmsford. CM99 2XF Independonl E¥$min. Chrlstlne Wade. Hasungs Wado. 5&80 &owupland Road. Strmmael, IP14 SAL
SPARK Annual Report 31 March 2022 STRUCTURE GOVERNANCE AND MANAGEMENT Governing Document The charity was set up by constttution on 20 July 1999 and amended in Novembw 1999. It has subsequently been arnended to refiecl the objectives of the current methods of operation,. this was approved by the trustees on 2 March 2010 and was approved and incorporated by the Charity Commission on 9 July 2010. Further minor amendments were approved and incorporata by the Charity Commission in April 2012. The current constitution d 2 March 2010 incorporates a grant making policy. Trustee selection The TTUStees are elected at the Annual General Meeting by ballot OT s1Tr2w of hands in accordance with the Constitution (Clause 81. Should a v&anGy occur a replacernt can be apwinba by the ewutNe Committee to serve until the nextAnnual General Meeting. Govemance The Charlty Is managed by the 'Chaty Trustees, of SPARK As charity trustees they are responsible for complying with legislation applicable to charities. This includes the registrntion, keeping proper a¢¢ounls and m8klng returns lo the Charty Commlsslon as approprlale. The Committee meets four times a year. Rl$k andlntemal Control The twslees have identified the major risks to which they believe tho ¢harlty 1$ exposed, these have been reved and systems have been established to mitigate against them. The main areas of GOnM that have been Idantified a.. Reduced income from fund raislng. The Charity18 reliant upon Income from the tr Stop shop. The Charity does hold a reserve to cover the cost of one years rent for the shop but if the shop were to dose then rent may be due for the remainlng temi of the lease. This would leave any remaining re8eNes to be dlstributed as grant$ unttl the reserve5 werg exhausted. If further work were to be undertaken by the charity then a new Income source would need to be f(yJnd. The charity has In pLgce systems of Intemal control8 that are designed to provide reasonable as8uran¢& against material mismanag¢m&nt or Ios5,' these includ8 2 5ignatorfes for all payments and BACS payments are inttsated by the Treasurer and aulhoTized by a second trustee and insuranc6 poliGles to ensure that insurable risks 8re covered. OBJECTIVES AND ACTIVITIES ObJ8cts of thg Charity SPARK is established to provtde and assist In the provl$lon for $wt, aMenleS, re¢realion and other lelsure time ocoupations lor the beneflt of the inh8bi18nls of the Town of Keggrave in the interests of soclal welfare and In der to Improve the quallty of llf8 of tho $aid inhal)ftants. Grantmaklng Pollcy Grants are currently awarded to 8pplicants In accordance wth the poticy lald down In the constitutlon. VolunteerJ All the twstees are volunteers, exceptfor one tfustee occaslonalty lakes 8p¢sbil1ty for the sh¢Jp manager and is paid ft)r this time at the same rate as the Gurrenl assistant shop manager. The only paid employeeg of the charity are the shop mana9er, assistant martager and cleanerwho look after the day-t¢> day running of the shop. The shop Ss staffed by a large group of volunteers who all work on a part tlme unpatd ba81s. Public Ben•fft The charity me9ts thg Charity Commission's publi¢ b9ngfft criteria by giving grants to local organlsations and people to enable them to pursue their aims and ambitions. In many cases this enables the people cotlcemed to fvrther their work in the community. ACHIEVEMENTS AND PERFORMANCE SPARK is currently the leaseholder of the * Stop Charity Shop. Thelgasg bofvthn Spark and Tesco. reached a lease renewdl on 31 May 2018 and a new lease has been negotiated for 10 year& The leage 18 held in the name of the twstees, Patrick Mills, Kel(h Stewart Young and Molty Amot All the profts generated after the operational costs of running the shop are to the sole benefit of SPARK and are used to mal(e grants or loans to organisattons and indNiduals w((hln the area of benefit
SPARK Annual Report 31 March 2022 FINANCIAL REVIEW The trustees have adopted the provisions ofthe Ststament of Reccwnmended Practice ISORP)"Accounting and Rerting by Charf(ies'(FRS1021 In prepafing the annual report and finanGi818talements Df the charlty. The financial statemants have be8n prePad in accordance with the a¢¢ounlin9 policies sel out in the notes to the flnancial statements and comply with the charity's governing document. the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance th the Flnandal Rewrtlng Standard appllcable In the UK and Republic of Ireland published In October 2019. The shop was able lo re-open for the whole year and Inenme almost rthmed to pre-cowd levels, whi* was an exedlent result considering that for most of the time covid restrictions were in ptac8. such as social dislanGing and reduced numbers in the shop. The local District Council provided a grant during the year to help mitigate the reduced tradlng level. The Shop MarHger has also expanded th8 Wtential income by selling items on eBay and recycSing books eta under schemes such as ziffit. During the year grdnts were maj8 to several individuals and organisations as ouulned In the notes to thes& Counts Roserves pollcy The charrty has significant cash fvnd8 but there is no specific need to keep reserve¥, as apart from the 2nu Slop Shop. the ¢harity does not hav8 any overt)ead$ or recurring costs. Th8 shop holds £18,021 in a deposlt account as a provision towards one ye8ffs rent 8nd a provision for any potenti818taff redundancy. Invostment Selectlon Current Interest bearfng and inveslment fvnds are held ty Hampshlre Tnjst Bank and the M&G Charibond. All acGounl¥ are reviewed and discussed wulArly. Insuranc• A policy was purchased from Access Undernrftlng Trusts8 Indamnlty affective forthlve months as from I June 2013 and Is renewed each year. Approved by Ch81mian Vi¢e- Chairman 11- 29
SPARK Annual Report 31 March 2022 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Note Total Total INCOMING RESOURCES 2022 2021 Donatlons and legacies Donation Govemment Grants Other tradlng actfvllles 2r Stop Shop 50 23,C61 2,667 112.465 47,209 Inv8Stments Intsrost 2,739 3,453 Total Income £117,871 £ 73,773 RESOURCES EXPENDED Ralslng funds Slop Shop Charftable actlvltl•s Grants paid Prinn9 Postage & Stslionery Advertising & promotion Web31te & domain Indemnity Insurance Independent Examination Bank charges Gifts and donatlon¥ 59,705 51,5C 76,595 18 217 72 243 125 88,785 243 125 70 25 Total Expon8e8 £ 137,071 £ 138,826 Ngt IncomellExpènditurel bofore investment galn51(10s8e8) 119,2001 165,053) Gainsl{losses} on invesknents 3,116 8,042 Ngt moyemert in fund8 116.0841 157,011) Total Funds brought forward 201.805 258.816 Total Funds carried fomard £ 185,721 £ 201,805 The annexed notes fom an integral part of these ac¢ounts
SPARK Annual Report 31 March 2022 BALANCE SHEET AT 31 MARCH 2022 Total 2022 Tot 2021 NLe FIXED ASSETS Shop Assets- Sheds 1,709 Investments M&G Charffund Hampshlre Trust Bank 45,872 42,756 60,000 CURRENT AssErs Dgbtors VAT Refvjnd Furlough Claim Shop prepaymonts Inv88tments 2n¥ Stop Deposll Account Cash at bonk and In hand CAF Current Account Hampshi Trust Bank 2r stop Current A¢¢ount 2nd stop Paypal 2nd stop Sumup 2 Stop Cash in Hand Petty Cash 884 4,029 3,814 18,021 16,946 57.494 50,550 5.536 487 222 2,016 16 83,147 2,085 429 793 Total current a888ts 138,999 109,193 L888: Creditors Amounts falling due withln one year 10 18591 (3801 Net currgnt assgts 138,140 108,813 TOTAL NET ASSErs £ 185,721 £ 201,805 FUNDS General Fund 2r Slop Fund 153.782 31,939 175.787 26.018 Total Funds £ 185,721 £ 201.805 Approved by Treasurer Judtth Franels Vice- Chasmian stavart Young Date The annexed notes form an integral part of these accounts
SPARK Annual Report 31 March 2022 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Ba$18 ofpryarntlon Basi5 of &)UntIng The d7aTty constitutes a publlc benefft entty as defined by FRS 102. The act¢)unls have teen prepared in accuttan with Acrnunting and Repong by Charbties.. Stalwnenl of R8comm8nded PraciKe applicable lo ¢harities preparing their ac)Unts in acthrdance wlh the FinarKial Reporth)g Slward app[ble in the UK and Republic of Ireland (FRS102) issued in October 2019, the Financial Reporting Standard applicab in the Unfted Kingdom and Republi¢ of Ireland IFRS102). the Charibe3Act 2011 w)d UK Generalty Accepted Aco)unting PraCte. Thefinancial statwnents have been preparwj to gNe a Irue and faIrv1th and have departed from the Charit$ (Accoun15 and Reports) Regulations 28 lo the exlent requed to Provide a Irue and fairf view. The departufe has involved following the Accountlng and Roportlng by Charles'. Stslernent of Recornmendecl PracJf applicable to Chare$ preparing their annual accKJunts in accordance with the Finandal Rèporting Stsndard and applicable it) the iIK and Republ of Ireland IFRS1021 i$sugd in Odobèr 2019 ratherlhan Ihe Accounting and Reporting by Chariti8s'. Stalern•nt of Recommended Pra¢ti¢e effectw• from 1 April 25 thioh has been withdrawn. ThefinancAal statements are prepared on A going concern basls nder the hlstorlral cost cL¥wentbn. The financi stslem•nts are presented in sterling which is the fun(thnal currency ofthe charty and rounded to the nwe51 pound. Changg in Ba?18 The slgnlffcanl acowntiTYJ Poe$ applied in the prgparalion of theso statem*nt$ ¥r• set ovi below. These pollde$ been $s$1ntlY applièd lo all y88ts presented unkn otheThvl8a 8tatod..
SPARK Annual Report 31 March 2022 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 2. Accounttng policies Recognitp)n of Inaome Thls Is included in the ac£ounts when the charity rgcetves the re8ources Offseiilng There has been no offseiting ofassets and Ik8bilities. or inwrne and expenses, unless requ5red or Ferm6tt¢d by Ihs FRS 102 SORP or FRS 102 Grants and dcnallon8 reIVed VAT Gt8 and donations are only induded as incLJme when receNed. VAT rfjdaimabb i8 recogniJ 8s tt arisas Donatéd good8 Don8twJ go¢d$for res810 8r• Induded In the aceounts when 8ohS bytho charlly. Donated servlces and Faclll#es Volunteer help Thè value plècèd on thèsé resource8 18 n¢lud8d in tho ae4>)unts The velue of any voluntsry h r1Ved k8 not in¢tudgd In a¢¢otmts Investment Incijm This is included in Ihe accounls when recalpt Ls Probabte and the aUnt recelvable chn be m•a8ured reliabty. Inv8strnenl gains and losees This indvdes any re81188d unreall8ed galns or loss&s on th& $81& of Irnvegtsnants and gny galn or loss re$ulllng from rgvaluing Inv9Stments to markot value at th8 end of tho pport Cc418 Th• Charfty h98 Incurr•J •xpaThJll on support costs Grnnlj Pal Grants paid are ClY Irthed h th& ¥co)unl8 Wh ar•11¢9tbn$ hov• been re1Ved and approved by the Iru8tg9S and fijnds transferred lo the appllcant. LbIllty roo)gnitlon Llablliti06 ar• recogni88d whfjre 118 mora Ilkaly ih8n ncl th81 Ih8r818 a legal ly onstructwe obllgallon MMIttIng the tharly to pay OLrt r&sr0e• and the 8mwnt of the obligation Can be m&asur&d with rèasonable certainty. Credlors The charlty h88 Lv8dttor8 whkh ar& measured at amounts less any trnde dlscouTrts ProvkLons for IL4bllltl8S A liabllty Is measured on reeognttion at Its h18lorf cct and then subsequently measured at the b8st estknate of the OUnt requlred to the obll9atlon at th¥ rèportlng d81e T8n9lb fixed asss fci use These are ¢aFxl81ised iflhey can be us•1 for morethan one year and cost morethan by charity £500. They are valued at cost or a Teasonabte value on receipt. The depr8ciation ratas arE given in the approwiate note. Inveslmert8 Inveslments hdd for resale or pendlng their sale and cash and cash w4uivalenl8vAlh ¥ maturity dat¢ of #$ than 1 ya8r8r8 treated as currènt asset knVeSthrts Current 88set lnvgstmts The tharity has Investrnentswhlch it hDld5 tr resale or p8nrfing Ihèlr sal8 and cash and cash equivalents with a maturity date lesslhan one year. These include Cash on deposit and cash equivalents with a maturity date of less than one year held lor vestment purptygs rotherthan to meet short term cash commitrnents as theytsl due.
SQARK Annual Report 31 March 2Q22 NOTES TO THE ACCOUNTS 4 -, M& YLAR ENDED 31 fvlARCII 2ts22 Govemment Grants 2022 2031 District Council- Local Reslric110ns Support Grant ILRSGI Coronavirus Job Retention Scheme ICJRSI. 19,907 3,154 Totd Income £ 2,667 £23,081 The shop al80 benefitted during the year from a business rates rebate which reduced the rate5 by just over 50% a savtng of around £400. Funds gonerated by?d stop Shop 2022 2021 Shop Sales Government grants Interest on shop funds 112,465 2.667 12 47.209 23.061 Total incom8 Less.. Shop Manaoem8nt Premises Adminlstration 115.144 70,332 (31,2031 124,3771 14,1251 {28,833) 122,291) 12,582) Totsl oxpenses 159,7051 151,508) Nel surplus Transfgr to SPARK xcounts Shop funds at 1 April 55.439 149,517) 26,017 18,828 {34,243} 41,434 Shop funds at 31 March £ 31,939 £ 28,017 O Foes forexamlnlng th& ac¢ounts 2022 2021 IndeperKlent examlners fees 150 150 £150 £150 staff Costs 2022 2021 Gross wages Employer Pension Cosls Employers National Insuran 32,061 575 27,341 552 £ 32,638 £27,893 Average number of full time equivalent employees Managing the shop Th is a NEST nsiOn 8cheme OFerated by the charity, No employees received empltsyee beneffts for the rewrting peritsj of more than £60.O¢J).
SPARK Annual Report 31 March 2022 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 21y22 Grantmaking 2022 20 KWMCC- All w8ath8rsurfaceiT8nnis Club surfacing lighting Gorseland School- Play equipment Heath School- Outdoor Leaming Project Phase 2 Kesgrave Town Council- Fun day ridg hwe - Youth Club Provision - Fir8works Kesgrave Kestrels- Equipm8nt for 7 new youth 188ms Girlgutding Heathlands Dimsion - Le8deffslMambers nmberShIp fees Kesgrave Music Festival - SK Fun Run & EasterEgg Hunt fundlng Kesgrave Ccme & Play- Equipmant and g6ngTr1 running costs All Saints Church- Broom Tree Youth Café running ¢osts Don8tlon re Kesgr8ve & Distiycl Roy81 Bntlsh L8glon Hall Forget-me-Not Cafè- Hir8 ofBowls Pawlion 1,000 Crochet Mantra KesNe Hwkers & Crafters Club- start up packs and hall hire 891 111 Kesgrave Scout Group- Word Scout Jambow Furtdrai&ng Disco 659 - Hall hir6 fg9s for Doctors to ljokl Flu jab clin Kesgrave Friendship Club- Christmas Lunch and oth8ra¢tlviltss In 2022 Kesgrave Short Mat BS- Club Shirts Kesgrave Singers- Charity Conc8rt 8xp8nses Kesgrave Craft Club- H811 hire Kesgrave Tuesday Moming Bo$ Club- 7¢ handle to roll mat Ke$grave Hlgh School- Sensory Garden Kesgrave Rollers- La Boule Piste KesgTave Church of England Chartty- Youthwo Kesgrave Krulsers- Training AFC Kesgrave Gids 4 {Ladies)-T88m Klt Calé 66- Colebration expens95/Outing 29.CK)O 25,000 5,915 1,150 1,800 11,388 6,000 1,800 2.045 2,000 1,200 1,200 1,000 Bo,000 soo 500 300 204 85 8,000 3.850 2,$00 1.191 618 40 £ 78,595 £ 88,785 Flx•dAs8ets Tot81 At l Apdl 2021 Additions 945 1,745 1,745 At 31 March 2022 £ 2,690 £ 2,690 Depreclatlon At 1 April 2021 Deprecratron for year125%) 709 272 272 At 31 March 2022 £981 £981 At 31 March 2022 £ 1,709 £1,709 At 31 March 2021 £236
SPARK Annual Report 31 March 2022 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 AI&G Charilund Hampshire Trust 2022 At 1 April 2021 Transfer to eurrent assets Galn revaluati 42,756 92,756 (50,000) 3,116 (50,0001 3,116 £ 45,872 £ 45.872 Hlstorical cost £ 45,000 Market val at year end Gainl{Lo¥s} for year Raprnsented by: M&G Charifvnd 45,872 3,116 £ 45,872 £3,118 10 Credl(ors andaccruals 2022 2021 Ac¢ruai8 381 £869 £381 If Trustees and otherrnlat8dpartloS Ouring the yéar remunoratbn and expanses w8ro pald to the followlng trust 2022 2021 Molly Amot - pay as 8881stant manager of the shop 620 130 £820 £130 Francis- reimburserr£nt of expenses in¢urred in setting up new phone eontract 110 £110 The Vre no related party tranwtions. 12 Capital Commltments At the year end the Shop had entered a contract to TeplaGe the shop front docf. A der*)Sit of £1,550 was paid in March and the balance of £4,650 wlll be due on MptIOn of the work.
SPARK Annual Report 31 March 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OFTHE SPARK I report to the charty trustees on my examination ofthe accounts of the SPARK for the year end&1 31 Mar¢h 2022. Responslblllties and ba818 of report As the charity trustees of tho Chaiity you are responslble for the preparation of the acrounts in accordan with the requlraments of the Chanties Act I'T1 Act'l. I report In respect of my examlnation of the charfty's acCTrts caTried Jt under section 145 of the 2011 Act and in carying out my examination I have followed all the appti¢able Dlrections given by the Charlty Commisslon under section 14515llbl of the Act. Indopendont examlnerfs ststsment I have completed my examination. I tonfimi that no mrial matters have come to my attention In conne¢lon with the examinatlon gtvlng me cause to b¢lieve that in any material resFrfL 1. Aceounllng records were not kept In resFÉCt of the charity as r8qulr8d ty sectlon 130 of th8 Act,. or 2. The accounts do not ¥Gord with those records.. or 3. The accounts do not comply wlh the applicable requirements concemSng the fomi and con18nt of accounts set out in the CharStie5 IA¢Goun15 and Reports) Regulations 2008 other than any requlremenl that the accounts give a'true and fair view which 18 not a matter considered as part CA independ8rrt 8xaminaUon. I havè no concems and have Come across no other matters in Connection with the examinallon to wh attenllon Shoukl be drawn In this report in order to 8nab18 a proper understarKllng of the x¢ounts to be reached. Slgnfra.. Clwsl l£b< Nama Qualiftcatlon Chrtsllne Wade, Hasllngswade Chartered Certifigj AcGountants- Registerod Audltors Addres3: 5840 stowuiand Road stowmarket Suffolk IP14 SAL Dat io