SPARK Registered Charity 1077587 ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 March 2023
SPARK Annual Report 31 March 2023 TRUSTEES REPORT REFERERENCE AND ADMINISTRATIVE INFORMATION Registered Ch8rty No. Chanty contact name.. Charity contact addre. Charity main address.. Chaiyty w8bsite'. 1077587 Mr Nick Francis 48 berta Ckw, Kesgrave, 1p$wh IP5 1 HS Unit 5 Ropes Drive, Twelve Acre Approach, Kwrave. Ipswich, IP5 2Er http..Ih.keSgrave.Org uWspa TnJ$tO0S •t 31 Alar¢h 2023 Date Appolnt8d 26 February 2013 Mrs Molty Arnot Mrs Angela Finch - 18 November 2013 Mrs Judrth Fran¢ls- 9 Aprbl 2018 Mr Nlcholas Francbs 20 Aprfl 2020 Ms Joanne Garden 20 April 2020 Mr Ashley Jord8n 7 April 2014 Mr Patrick Mills 20 Apnl 1999 Mrs Tlna Shute 8 Aprll 2019 Mr David Steward- 7 April 2014 Dr Kelth Stewart YouTrJ - 14 0¢tr)ber 2011 - R•g58t8r8d 8uthorf88d 81gnatoth to 8cI on behallolthe TnMtee8. Cu8todlan Tru8tse K6¥gra Ttr•m CnCIl Pmf•s•lon•l Advthorn Banke CAF Bank Ltd. 25 Kiry Hill Av•nue, lth.ngs Hill. Wèst MallitrYJ. Kt ME19 4JQ Santandar. Bddle Rd, 8(tI. MW. LS) 4GB H8mpshir• Tnjst Bank e. 131 Finsbury Pgvement. London, EC2A 1 NT M&G Charities. PO Box W38. Chelmsford. CM99 2XF Indgpend•nt Exeminer. christi Wado, Wado. 584) Sttr•Wp1d R09d, StO44mafket. IP14 SAL
SPARK Annual Report 31 March 2023 STRUCTURE GOVERNANCE AND MANAGEMENT Govemlng Document The charity was sel up by constilubon on 20 Juty 1999 and amended in November 1999. It has subsequently been amended to reflect the objectives of the current methods of operab"on; this was approved by the trustees 2 March 2010 and was approved and Incorpored by the Chanty Commission on 9 July 2010. Further minor amendments were approved and incorwrated by the Chanty Commission in April 2012. Tho current constitution dated 2 March 2010 Incorporates a grant making polry. Further minor amendrnenls were agreed by Board of Trustees at their AGM in 2020 Tru$tee selectlon The Trustees are electsd at the Annual General Meeting ty ballot or show of hands in accordance wf(h the Constitution (Clause 8}. Should a vacancy cKcur a replacement can bè appointed by the executive ommittee to serye until the next Annual General Meeting. Govornance The Charty is managed by the 'Board of Trustees. of SPARK As ¢harity trustees they aro respon5iblg for complying with legislation applicable to charityes. This includes the registration, keeping proper accounts and making Teturns to the Charity Commission as appropriate. The Board of Trustees meets four times a year. Rlsk and Int•mal Control The trustees have identified the major risks to which they believe the charity is exposed, these have been reviewed and systems have been established to mibgate against them. The main areas of concem that have been identsfied I.. Reduced income from fund raising. The Charity is reliant upon income from the 2n0 stop Shop. The Charty does hokl a reserve lo cover the cost of one yearfs rent for the shop and funds to cover potential redundancy payments to shop staff but rf the shop were lo close then rent may be due for the remaining lenm of the lease. This would leave any remaining reserves to be distrtbuled as grants until the reseNes were exhausted. If fijrther work were to be undertaken by the chanty, then a new income source would need to be found. The charity h8s in place systems of internal controls that are designed lo provide reasonable agsur8nce against material mismanagement or loss.. these include 2 signatories for all payments and BACS paymonts are initiated by the Treasurer and aulhorized by a second Iruslee and insurance polici85 to ensure that In8urable risks are covered. OBJECTIVES AND ACTIVITIES Objects ol the Charfty SPARK is established to provKle and assist in the provision for sp)rL amenit, recreation and other lsure lime txcupations for the benefit of the inhabttants of the Town of Kesgrave in the interests of S(la1 welfare arKI in order to improve the quality of life of the Sa inhabrtants. Grant Maklng Pollcy Grants are currenty arded to applunts in CordanCe the polry laid down in the constitutson. Volunteers All the trustees are volunteers The onty paid employees of the charity are the Shop manager, assistant manager and cleaner who l¢)ok after the daY-tOaY wnning of the shop. The shop is staffed by a large group of volunteers who all work on a part time unpa%1 basis. Publlc B•ngfft The charity meets the Chanty Commission's pvblic benefft criteria by gNing grants to local organlsations and people to enabie them to pursue their aims and ambitions. In many cases this enables the people concerned to further their work in the community. ACHIEVEMENTS AND PERFORMANCE SPARK is cuffentty the leaseholder of the 2r Stop Charity Shop. The lease befv4een Spark and Tesco, reached a lease renewal al 31 May 2018 and a new lease has been negotiated for 10 years. The lease is held in the name of the trustees, Patrick Mills. Keth Stewart Young and Molty Amotl All the profrts generated after the operational costs of running the shop are to the sole benefit of SPARK 2nd are used to make grants or k)ans to organisats'on8 and indriiduals wthin the area of benefit
SPARK Annual Report 31 March 2023 FINANCIAL REVIEW The trustees have adopted the provisions of the Statement of Recommended Practice {SORP)'Accounting and Reporting by Charriies '{FRS1021 in weparing the annual report and financial ststements of the charity. The financial statements have been prepared in acrdance with the accounting lIcIeS sel out in the notes to the financial statements and comply wtth the charity's goveming document, the Charities Act 2011 and Accounting and Reporting by Charrbes". Statement of Recommended Pra¢ti¢e applicable to charities preparing their accounts in accordance with the Financkal Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Income for the year has retumed to pre£ovid veL% and the charity shop conts'nues to raise all SPARK fijnds. During the year grants were made to several indNiduals and organisatK>ns as outlined in the notes to these accounts Re8orye8 poII¢y The charity has signrfunt cash funds but there is no specrfic need to keep reseNes, as apart from the 2nd Stop Shop. the charity does not have any overheads or r&urring costs. The shop hokds £19,098 in a depo$lt account as a provlslon towards y&a¢s Mt and a provtsion for any potentsal slaff redundancy. Investment Selectlon Current interest beaTing and Investnt fvnds are hekl by Hampshire Trust Bank and the M&G Charibond. All accounts are revId arKt disGussed regulaty. In$uranc• A policy was purchased from Access UndeNrtiting Trustee Indemnty efftive for ffK)nths as from 1 June 2013 and Is renewed each year. Approved by Chairman Vice- ch.an Date
SPARK Annual Report 31 March 2023 STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2023 Notg rotai Total INCOMING RESOURCES 2023 2022 Donalions and legacies Donation GOveMnt Gr8nts Other trading activrttes 2M Stop Shop 500 2.667 146,213 112,465 Investrnents Interest 3,107 2,739 Totsl In¢omo £ 149,820 £117.871 RESOURCES EXPENDED Ralslng fund8 2nd Stop Shop Charltable actlvitlos Grants paid Printing Postage & Stationery Advertssing & prorrntion Website & domain Indemnity Insurance Independent Examinatton Bank charge$ 66,256 59,705 76,595 18 217 72 243 125 96 15 101 243 125 72 Total Expen888 £ 116,485 £ 137.071 Not Incomelldgflcltl b•foro Invo8tment galnsl(losse81 34.335 (19,2001 Gainsl{los$esl on inve$trrÈnts 12,803) 3,116 Net movernent In lunds 31,532 {16.084) Total Funds brought forward 185.721 201.80S Total Fund$ camed foThvard £ 217.253 £ 185,721 The annexed notes fo an integral part of these accounts
SPARK Annual Report 31 March 2023 BALANCE SHEET AT 31 MARCH 2023 Total 2023 Total 2022 Note FIXED ASSETS Shop Assgts- Sheds 1.036 1,709 Invostments M&G ChaTifvnd Hampshire Tnjst Bank {2-year tond) 43,069 51.106 45,872 CURRENT ASSErs Debtors VAT Refvnd Shop ppaYrnents Investment8 2Th1 Stop Deposrt ACUnt Cash at bank and In hand CAF Current Account Hampshire Trust Bank 2rl Stop Current Account 2rl Stop Paypal 2Th1 Stop Sumup 2r Stop Cash In Hand Pety Cash 975 3.816 3,814 19,098 18,021 91,682 57,494 50,550 5.536 487 222 2,016 16 4,103 658 2.144 Totsl curront a••ots 122,837 138,999 Less.. Credilors Amounts falllns duè wthin ono year 10 (795) 18591 Net curr•nt as•ets 122,042 138,140 TOTAL NET ASSETS 217,253 £ 185,721 FUNDS General Fund 185,608 31,645 153,782 31,939 2nd Stop Fund Total Fund8 £ 217.253 £ 186,721 Approved by Treasurer Judlth Franci8 VrR- Chairman Stewart Young Date The annexed rKites form an integral part ofthese accourbts
SPARK Annual Report 31 March 2023 NOTES TO THE ACCOUNTS FOR THE Y&4R ENDED 31 MARCH 2023 8a8ls of preparatlon Basis of accDuth"n9 The tharity comtth a benefft entity a8 dtrfin8d by FRS 102. Thè 8co)unts have been ppared in aceordance tmth Accxwnting and Reporting by Chartthes,. Ststsmenl of RecLJmmern1ed Practice appluble lo d)aiibe$ preparing th8lr actounls in accordance the FinancK4 Re1K).j Standard applicablè in thè UK and RepU1C of Ireland IFRS1021 is61 in Oct¢Jber 2019, the Financial Rewrting Standard applicable the United Kingdom and Repuljic of Ireland IFRS1021. Ihe Charities Act 2011 and UK Generalty Accepted Actounljng Practice. The fin8rKiJ 5ts1emerts ha¥e been prepargj to gwe a Irue and fair vievl and have depart&d from the Chaiitw (Accounts and Reportsl Regulations 2008 Only to the èxtént required to provjde a 1we and tsirf ¥iew. The departure has invofved following Ihè Accounting and Reixyth"ng by Charrb"e8 Ststemenl of Recommended Practice applbIg to L*anbes Pfep8nrYJ annu coUnt8 in accxjrdance wth the Financlal Reporting Stsndard and awltsbl• in lh8 LIK and Republic of Ireland {FRS102) i5sU9d in Ckaobet 2019 rath8r than tho A¢counllng and Repothn9 by Chorttieg.. Statomonl of Recommended Pracbce elfectNe from 1 April 2¢X)S whh has l)•&n withdrawn The financial statsyments are prepared on a otyng bo$i¥ under the historical cost convention. The statemènts are prèsented in $lerfing whth bs th8 fun¢tional CLFrrency of Ihe charty and rounded to Ihè nearest pound. Change In Basls The 8ignffi¢ant a¢¢ountirg pc4irye8 in the preparation ol these 8tsl¢mènls ar• $81 (Mjt bel. Th8se havo b88n eon6i8tsnty 8Fvli&l to dl years prgsenlgd unkns othewse stated..
SPARK Annual Report 31 Mah 2023 NOTES TO THE ACCOUNTS FOR THE YEAR ENOED 31 RGH 2023 Accounting pollcles ReLognitKJn of irKome This 18 IrKauded in ts nts Ihe charity receives r•source8 Offsetting There has be no offsetb'ng assets and ¢y and eXpSeB. unless required or pem)Itt by th8 FRS 102 SORP or FRS 1W2. Giants and donollons feceNed VAT Grants On Induded as Inc¥Th when receiv&J. VAT redaimable IB recogniseA as arises Donalod 9ctsJ8 Donated gocrtJ8 for re8ale are induded in th• acwunts when 801d by th• chorlty. Donated seThe8 and Facll Volunteer help The Value on th888 re1 Is rKrt Ind[led kn th• occounts Tho lu& of any vcAuW K8 rKé indudgd in the aLrounts Inv88tsm8nt Inc8 Th1$ Is Indud8d In the •xwnts when rp1 is wobable aThJ the afflount rewvable ¢an b• measured fellably. Investfflonl 911 and k)68 This indudes any redlsed or 08118e4j or k)8888 on the 8818 of Inve81men18 and any gain or kjss rnsuhSThJ from revaluiro inv•8ts))ent8 to rnaet value at the end of the year. Support Co$ts Chwity h88 kKurr•d exrThJllur• on Jupport C08ts Grants Pdd Gr¥nts pald are IlUd¥d in th& ¥¢¢ount$ when oppli¢8tJ"on$ have been recelved 8nd 8ppIad byth8 trustses a1 funds tr8nsferTed to th& Wicant. at41ty reCOgnon Liatilib'e8 are reccanised wheTr rt i¥ more likety than not that thor¢18 a l•g81 or COn6trudN8J oblig8tK)n ¢ommitting the charity to p8y oul ¥ThJ th8 8nv)uM of th8 can be msUr8d wilh reasonab certsinty. Credltord The th•rty ha? tr•¢litorn vthich are mwL•d •t $•lll•nyJnt am¢)unts less any trade th8counts Pmw8ions for lia.11tieS A lialylity is measured on rwJnltyn at its Islonl ¢osl and Ihèn subs8quenUy mSt1r0d Al Iho Wl èstimotè ofth8 amount r8quirèd to s•td9 oblw8tion 81 the TeF4)rting date Tanglbl• fixed 85sets for us8 These are (xpitali5ed rfthey be used ts mNe than year and cost twjre than by Charty £stKI. They are ¥alued at o)st or a reasonable valu8 rlPt. Th¢ doprocSatlon r8t88 are gNen in Ihe apprcyiale rrte. Investments InvestMts hehj for resth or p8nding Ihdr sale and cash and cash equfv8knts a matuiity date of s$ than 1 year are tt as cuirenl asset investments Cent a88et Thestments Thè (arity has inv&stsTrts vknich il hokls kn resale or FendirvJ thwr 1¥ and e88h a1 cash ew1vants wth a maturty date less than year. These Include cash on deposrt and cash equNalents wilh a maturity ¢Jato ofless than one yoar held for investrnent purrA)yes rather than to meet stKJrt tem cash commitments 8$ they f811 due.
SPARK Annual Report 31 March 2023 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Govemment Grants 2022 District Council- Local Restrictions Support Grant {LRSG) 2,667 Total income £ 2,667 Funds goneratedby T¢ stop Shop 2023 2022 Shop Sales Govemmenl grants Interest on shop funds 146,213 112,465 2,667 12 22 Total income Less.. Shop Managemenl Premises Adminlstratlon 146.235 115,144 (34,483) (27,3221 14,4511 131,2031 124,3771 14.125) Totsl expens (66,258) 159,7051 Nel surplus Transfer to SPARK accounts Shop funds at 1 April 79.979 (80.273) 31.939 55,439 149,517) 26,017 Shop fvnds at 31 March £31,845 £ 31,939 F••8 for oxamlnlng th• accounts 2023 2022 Independent examiners fees 150 150 £1SO £150 Staff Costs 2023 2022 Gross wages Employer Pensron Costs Employers National InsurarKe 35.799 624 32,061 575 £ 36.423 £ 32,636 Average numt*r of full tirn8 equivalent employees Managing the shop The is a NEST pension scheme operated by thg charity, No employees received employee benefits for the repx)rbng riod of more than £60,000.
SPARK Annual Report 31 March 2023 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Grant making 2023 2022 C8daNood Sch¢Jol - Lgaming outside the classmom - Queen's Jubile8 Bench Kesgrave Town Council - Fun day iide hire 2022r2021 - Fun day rKle 2023 - Christmas Celebrations 2023 - Resurfacing Play Arna - Shed forArmy G8det storn - Youth Club ProvIsn - Firgworks Kasgrave Parachute Reg. Arry Cadet For¢e- Training A 3,090 Kesgrave Albtmenl and Leisure Gardening ASlation Ltd - Communal Sh8d 2,200 AFC Kesgrave under 18- TrainAng Kit & f8es 1,615 Girlguiding Heathlands Division - LeaderfslM&mb8rs membeAlp fees 1.490 East Anglian School Trust IKHS)- U18 Fcotball & Key St8g& 4 Netball kit 1.242 Kesgrave High Schtr)l - M8t8ri81s for fundIng forExpedrtK)n 200 Ke8grave Musio Festival- SK Fun Run & Easter Egg Hunt funding 1.100 Kesgrave Friendship CILbb- Chri$tm88 Lunch and olh8radivili8s in 2023 750 Computer Club- Hall Hlr8 700 Ipswich Walknng Football Club- Wat&ry))fjackats 514 Héalh School- Queeft s Jul)rf88 rtsal0utd(r Leaming ProJ6¢t Ph8s& 2 450 Kesgrave Library- Chairs & stornge boxes 400 Kesgrave Library Community Group- rnpl8¢ing kntorn¢y & Numerncy Games 250 Forget-me-Nol Café- Craft MaterialslHire of Bowls Pavilion 250 Kgsgrave T•nnis Club- Now Logo 88nn 197 All Saints ChuTch- Brcom Tr8e Youth Cara mnning costs (refunded) (1,200) KWMCC - All weather surface Gorsèland Sehool - P18y equipmant Ke8grav8 Kestr818- Equipmonl ftir 7 newyouth teams Kesgrave Come & Play- Equipment 8nd genarnl njnning costs Crochet Mantra Kesgrave Hcokers & Crafters Club- start up packs and hall hire 111 Késgravg Scout GTOUP- Word Scout Jamborne Fundr8iwng D¢0 Kesgrave Short Mal Bowls- Club Shirts Kesgrave Singers- Chanty Concert exp8ns83 Kesgrave Craft Club- H811 hire Kesgrave Tuesday Morning Bowls Club- P h8ndl& to mat 13.052 859 1,728 5,265 4,277 8,750 1.385 1,150 1,800 800 2,045 2,000 500 5.915 1,Cw)O 1.200 29.000 25.000 2,448 1,200 891 559 500 300 204 85 £ 48.564 £ 76,595
SPARK Annual Report 31 March 2023 NOTES TO THE ACCOUNTS FOR THE YEAR ENtJED 31 4RCH 2023 FIx8d Assots Sheds rot81 Cost At 1 April 2022 Addrtions 2.690 2,690 At 31 March 2023 £ 2,690 £ 2,690 Depreciation At 1 April 2022 Depre¢iation for year125%) 981 673 981 673 At 31 March 2023 £1,654 £ 1,654 At 31 March 2023 £ 1.036 £ 1,036 At 31 March 2022 £ 1,709 £1,709 Depre¢lation has been charged on the fixed assets at 25% (strah1 Line) Flxed Asset Invostments AI&G Charmund Hampshlr• Trust 2023 At 1 April 2022 Addition during the year Gainl(Lossl on revaluation 45.872 45,872 51,108 (2.8031 51,1Ce (2,803) £43,C69 £ $1,1 £ 94,175 Hi8torical Cost £96,108 Market value at year end Galnl{Los$) for year R8prn8entod by: M&G Charlfijnd Hampshire TnJ81 43.069 51,1( (2.8031 £ 94.175 £ (2,803) 10 Cr•dfton and accruals 2023 2022 Trade Creditors Accwals 709 150 311 £795 £859
SPARK Annual Report 31 March 2023 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 11 Trustees and othw rnlatedparties 2023 2022 For the year ended 31 March 2022 muneratIon vas paid to one Trustee who wa5 the assistant manager of the 2nd Stop Shop Molly Amot - Gross Pay 620 £620 £108 w8S P81d to N Francis during the year to reimburse the $t of lanyards. There were no related party transactions. 12 C•pftal Commlbnonts There were no caprtal commrtments at the year*nd {2022 £4.650 relating to the cost of the replacement front door), io
SPARK Annual Report 31 March 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SPARK I report to the Board of Trustees on my examination of the accounts of the SPARK for the year ended 31 March 2023. Responslbilities and basls of report As the tNstees ofthe charity you are SponSible for the wepara'on of the accounts in accordance with the requirements of the Charities Act I'The Act'l. I report in re$Fect of my examination of the charity's accounts carried out under section 145 of the 2011 Acl and in carrying out my examination I have followed all the applicable Directions given by the Charity ComMissn under section 145{51{bl of the ACL Indopgndgnt oxamlneV8 8tatoment I have completed my examination. l ¢onfimi that no matenal matters have come to my attenb'on in connection with the eXaMinatn giving me Cause to believe that in any material respecL' 1. Ac¢ounllng records were not kept in respect of the charity as reqUId by sects.on 130 of the Act or 2. The a¢¢ounts do not accord with those records." or 3. The accounts do not comply with the applicable reqU1reffnts conceming the fomi and content of 8¢¢ounts set out In the Charibes (Accounts and ReFx)rtsl Regulations 2008 other than any requirement that the accounts gwe a'true and fair vievl which is not 8 matter considered as part of 8n Indepèndent examination. I have no concerns and have com across no other mattèrs in connection wilh the examination to which attenon ¥hould be drawn In thls report In order to enabl8 a proper understanding of the accounts to b? reached. Signed.. Name Chri8tine Wade, Haslingswade Chartered Certrfd Accountants- Registered Audrtors Qualification 5840 Stowupland Ro•J Stowmarket Suffolk IP14 SAL Date: li