Registered number: 03795755 Charity number: 1077935 ## SHROPSHIRE EDUCATION AND CONFERENCE CENTRE ## UNAUDITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) ## CONTENTS ||Page| |---|---| |Reference and administrative details of the Charitable Company, its Trustees and|1| |advisers|| |Trustees' report|2 - 7| |Independent examiner's report|8 - 9| |Statement of financial activities|10| |Balance sheet|11 - 12| |Notes to the financial statements|13 - 22| SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 |Trustees|Mr T M Parsons, Chair| |---|---| ||Dr R A Fraser, Secretary| ||Mr M Bowering| ||Mrs J J L Clarke| ||Dr M James (resigned 19 January 2022)| ||Dr N O'Connor| ||Dr J Rowlands| ||Dr K Srinivasan| |Company registered
number
03795755
Charity registered
number
1077935
Registered office
Shropshire Education and Conference Centre
Royal Shrewsbury Hospital
Mytton Oak Road
Shrewsbury
Shropshire
SY3 8XQ
Company secretary
Dr R A Fraser
Accountants
WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
Bankers
Lloys TSB
1 Pride Hill
Shrewsbury
SY1 1DG
Solicitors
Hatchers Solicitors
Welsh Bridge House
Shrewsbury
SY3 8LG|| Page 1 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) ## TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their annual report together with the financial statements of the Charitable Company for the year 1 April 2021 to 31 March 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Charitable Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. ## Objectives and activities ## a. Policies and objectives The objects are the promotion and advancement of education and particularly but not exclusively in the subjects of science and medicine and all matters relating to the progress and development of all branches of medicine and surgery. The charity addresses these objectives by providing and maintaining a building which includes appropriate teaching accommodation and AV and IT facilities. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## b. Activities undertaken to achieve objectives The Charity is a not for profit organisation and needs only to raise sufficient income to enable the Centre to function on an annual basis. Therefore funds are used to meet the cost of staff; maintain the fabric of the Centre; maintain the furniture and fittings in the Centre; meet the cost of the infrastructure providing heat, light and water into the Centre and keep the financial reserves intact. Where there is surplus the Trustees have authorised the necessary expenditure to invest in upgrading the AV and IT equipment that ensures that the Centre is able to provide state of the art conference facilities. Having considered the Charity Commission’s revised guidance on public benefit and charging for facilities, the Charity raises funds from NHS grants used for the purpose of training and fees from letting seminar and other meeting rooms from both NHS and commercial and professional users. Other income is received from the letting of offices for NHS staff and from catering activities within the building. Page 2 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 ## Achievements and performance ## a. Review of activities During the 2021 to 2022 financial year, the Charity has managed to maintain a healthy balance sheet despite challenging times due to Coronavirus Pandemic. The Charity’s major pledge is to facilitate and support Medical Education of which is prominent at the Centre and is a growing Hub for centralising this important aspect. Demand for room hire from internal clients has increased and has become more consistent since beginning of the year but has been forthcoming steadily through the pandemic with strict social distancing measures in place after completing rigorous Covid Safe Risk Assessments, that in turn provide effective and safe operating arrangements. Internal NHS facility usage in SECC is predicted by Hospital department’s budget allowance and whether it is financially feasible for them but with space at a premium within the hospital itself, we are becoming very much in demand to provide rooms for hire. In meeting our objectives to promote and advance education, an analysis of room usage shows an increase in usage from Post Graduate Medical Education teaching and training. No major building works have been undertaken. The Centre looks forward to Covid restrictions being relaxed which once again grant access to external clients thus increasing potential for commercial income generation. ## Employment There have been no changes during the year. ## Letting Income The Charity’s main income generator is SaTH internal clients who have maintained a healthy occupancy level throughout Pandemic. However, due to NHS Covid restrictions, external clients have not been granted access to the Centre. In the near future, the organisation hopes to resume this arrangement to further increase income generating potential. With the external in-house catering department being furloughed throughout Pandemic, the Facility Manager reclaimed the Seminar Rooms 3 & 4 that were previously used as part of the restaurant area. These rooms have proven to be very popular and profitable, thus helping to subsidise any room usage that has been lost from hosting any external clients. The Centre is continuing to be as resourceful as ever especially in light of current and future increases associated with rising costs for services, products, utilities and are continually monitoring expenditure and energy output to a minimum effective requirement. ## Building and land maintenance All necessary building and land maintenance and any compliance requirements are complete to date and calendared in throughout the year. No issues to report. Page 3 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 ## Achievements and performance (continued) ## b. Investment policy and performance To date funds have been required to provide working capital only and therefore liquidity has taken priority over return. However, reserves are accumulating and options for achieving a better investment return have been explored. Due to the low levels of current interest rates available and the requirement for flexibility in accessing funds, the Trustees have determined that an investment strategy for growth is not appropriate at the current time. To reduce risk the Trustees are intending to continue to open further bank accounts in order to spread the Charity’s funds across different institutions, in order to minimise any losses above the £85,000 guaranteed by the Finanacial Services Compensation Scheme should a bank fail. ## Financial review ## a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## b. Reserves policy The Trustees’ financial policy is to ensure that there are sufficient funds to cover the cost of running the Charity for one year without income so that it can continue to provide appropriate services to those using the facilities provided within the Centre. In order to cover any long term risk the Trustees require a year’s average expenditure to be held in reserve. The restricted funds are in relation to the construction of the Centre. Free reserves stand at £309,903 (2021: £312,028), calculated as the unrestricted funds, less the tangible fixed assets. Total funds stand at £2,145,624 (2021: £2,188,532). ## Structure, governance and management ## a. Constitution Shropshire Education and Conference Centre is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 24 June 1999. The charitable company is registered in England and Wales. Page 4 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 ## Structure, governance and management (continued) ## b. Methods of appointment or election of Trustees The number of Trustees shall be not less than 3 but shall not be subject to any maximum. The provisions for appointment of Trustees, as set out in the Memorandum and Articles of Association state that no person shall be appointed a Trustee unless either; they are recommended by the Trustees; not less than 14 nor more than 35 clear days before the date of appointment for the general meeting, notice executed by a member qualified to vote at the general meeting has been given to the Charity of the intention to propose that person or appointment, together with notice executed by that person of his willingness to be appointed. Procedures have been set up to achieve the above provisions by directing that proposals for new appointments should be by recommendation from existing Board members. The aim is to attract a diversity of skill mix within the Board, particularly ensuring that the main beneficiary groups are represented. The Board should include members with an understanding of health training needs and delivery, together with a knowledge of how health education is delivered and funded in the immediate locality of the Centre. In addition board members from the local and business communities are encouraged to join the Board to widen the skill base of the Board and to extend awareness of the Charity's activities in the locality. Trustees are encouraged to attend the Centre where the staff and manager explain the management and operation of the Charity and to attend ongoing training following their induction. The Board of Trustees compromises a range of professionals from different fields to ensure that the Charity can fulfil its objectives as effectively as possible. The process of recruiting Trustees is designed to maintain the range of professional knowledge and skills within the board of Trustees on an ongoing basis. A formal induction process is being implemented to assist new Trustees in fully understanding the workings of the Charity, including policies and procedures, at a briefing by the Chairman. New Trustees are also provided with training material and attend courses, including specialist courses, appropriate to their role ## c. Organisational structure and decision-making policies The management of the Charity is ultimately the responsibility of the Trustees who are Directors for the purpose of company law and Trustees for the purpose of charity law. A list of the Trustees who served during the year and up to the date of this report is shown on page 1. The board of Trustees meets quarterly and is responsible for the direction of the Charity and its policy making. The day to day running of the Charity is the responsibility of the Facilities Manager who works at the direction of the Company Secretary who is also a Trustee with full voting rights. The Secretary and the Facilities Manager meet weekly. Page 5 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 ## Structure, governance and management (continued) ## d. Policies adopted for the induction and training of Trustees Persons nominated for board membership are given a tour of the Centre's facilities and the aims and objectives of the charity are explained to them. They are asked to attend a Board meeting, on a non participatory basis, to help them to gain an understanding of the charity's activities and to evaluate whether they wish their Board nomination to go ahead. Checks are carried out as to their suitability and eligibility to serve as trustees. Proposed new trustees are asked to sign an undertaking their willingness to be appointed and confirming their eligibility for appointment. Once they have been elected to the Board they are given an induction pack, which provides information on the charity and also guidance on trustees responsibilities, including the Charity Commission leaflet "Essential Trustee". ## e. Financial risk management The Trustees recognise their responsibility to review, assess and monitor potential risks to the Charity and to put in place measures to manage those risks. There is a robust method of financial controls based upon the Facility Manager acting as the book keeper under the overall supervision of the Secretary. The accounts are submitted annually to the Charity’s accountants who carry out an Independent Examination. The Trustees regard the principal risk to be the financial structure of the Charity. The Trustees are given an Income and Expenditure summary at each quarterly meeting and this early warning enables the Trustees to carry out their supervisory function and deal with any financial issues promptly. ## Plans for future periods As ever, the maintenance of the building and its equipment are paramount. Integrating educational modalities across the catchment areas is important as well as obtaining compliance levels and safety certificates associated with building services and equipment. The Charity plans to continue its program of cost control whilst still making adequate funds available to support their core priority of supporting and facilitating the continued development of Medical Education and to ensure the necessary service requirements to ensure income streams are maximised and developed to their full potential. The Facility Manager will continue to drive the business forward even though restrictions from the pandemic could impact on user / occupancy levels. Cost saving / monitoring measures will be enforced to help off-set any income generating restrictions due to the pandemic. No major costs associated with any major development plans will be incurred as caution in-regards to large spending potential. Any potential large costs will be fully examined and only granted if justifiable via strict due diligence. Page 6 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 ## Statement of Trustees' responsibilities The Trustees (who are also the directors of the Charitable Company for the purposes of company law) are responsible for preparing the Trustees' 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 Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable Company's transactions and disclose with reasonable accuracy at any time the financial position of the Charitable Company 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 Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by: ................................................ T M Parsons (Chair of Trustees) Date: Page 7 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022 ## Independent Examiner's Report to the Trustees of Shropshire Education and Conference Centre ('the Charitable Company') I report to the charity Trustees on my examination of the accounts of the Charitable Company for the year ended 31 March 2022. ## Responsibilities and Basis of Report As the Trustees of the Charitable 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 Charitable 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 Charitable 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. Page 8 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 ## Independent Examiner's Statement Since the Charitable 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 ICAEW, which is one of the listed bodies. I have completed my examination. I 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 Charitable 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. This report is made solely to the Charitable 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 Charitable 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 Charitable Company and the Charitable Company's Trustees as a body, for my work or for this report. Signed: Dated: 6 October 2022 S J Tweedie BSc FCA DChA WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Page 9 ## SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) ## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022 |Note
Income from:
Charitable activities
3
Investments
4
Other income
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward|Restricted
funds
2022
£
-
-
20,744
20,744
67,280
67,280
(46,536)
1,628,425
(46,536)
1,581,889|Unrestricted
funds
2022
£
254,654
9
-
254,663
251,035
251,035
3,628
560,107
3,628
563,735|Total
funds
2022
£
254,654
9
20,744
275,407
318,315
318,315
(42,908)
2,188,532
(42,908)
2,145,624|Total
funds
2021
£
357,124
54
-
357,178| |---|---|---|---|---| |||||266,198
266,198| |||||90,980| |||||2,097,552
90,980
2,188,532| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 13 to 22 form part of these financial statements. Page 10 ## SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) REGISTERED NUMBER: 03795755 BALANCE SHEET AS AT 31 MARCH 2022 |Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Total net assets|22,377
334,432
356,809
(42,710)|2022
£
1,831,525
1,831,525
314,099
2,145,624
2,145,624|30,490
319,650
350,140
(38,112)|2021
£
1,876,504| |---|---|---|---|---| |||||1,876,504
312,028| |||||2,188,532| |||||2,188,532| Page 11 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) REGISTERED NUMBER: 03795755 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2022 |Note
Charity funds
Restricted funds
14
Unrestricted funds
14
Total funds|2022
£
1,581,889
563,735
2,145,624|2021
£
1,628,425
560,107| |---|---|---| |||2,188,532| The Charitable Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ................................................ Mr T M Parsons (Chair of Trustees) Date: The notes on pages 13 to 22 form part of these financial statements. Page 12 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## 1. General information Shropshire Education and Conference Centre is a charitable company limited by guarantee, and was set up by a Memorandum of Association on 24 June 1999. ## 2. Accounting policies ## 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Shropshire Education and Conference Centre 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. ## 2.2 Income All income is recognised once the Charitable 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. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. ## 2.3 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. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitable Company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 13 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## 2. Accounting policies (continued) ## 2.4 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases: - Buildings Straight line over 50 years - Fixtures and fittings Plant - straight line over 15 years - Kitchen equipemt - straight line over 10 years - VC equipment - straight line over 5 years - Computer equipment Straight line over 3 years ## 2.5 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. ## 2.6 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. ## 2.7 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 Charitable 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 in the Statement of financial activities as a finance cost. ## 2.8 Financial instruments The Charitable 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. Page 14 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## 2. Accounting policies (continued) ## 2.9 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 Charitable 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 Charitable 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. Investment income, gains and losses are allocated to the appropriate fund. ## 3. Income from charitable activities |Unrestricted
funds
2022
£
Internal Lettings
131,614
Temporary Offices
19,250
Mask Fitting
10,858
Vaccination Centre
16,500
External Lettings
5,004
Office Accomodation
46,644
Madel Recharge
24,451
Drugs rep Income
333
254,654
Total 2021
357,124|Total
funds
2022
£
131,614
19,250
10,858
16,500
5,004
46,644
24,451
333
254,654
357,124|Total
funds
2021
£
145,720
54,723
21,908
60,650
2,524
46,644
24,451
504
357,124| |---|---|---| |||| Page 15 ## SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## 4. Investment income |Unrestricted
funds
2022
£
Interest received
9
Total 2021
54
Other incoming resources
Restricted
funds
2022
£
Vacination Hub Reinstatement
20,744|Total
funds
2022
£
9
54
Total
funds
2022
£
20,744|Total
funds
2021
£
54| |---|---|---| |||Total
funds
2021
£
-| ## 5. Other incoming resources ## 6. Analysis of expenditure on charitable activities Summary by fund type |Cost of activities
Total 2021|Restricted
funds
2022
Unrestricted
funds
2022
£
£
67,280
251,035
50,732
215,466|Total
funds
2022
£
318,315
266,198|Total
funds
2021
£
266,198| |---|---|---|---| ||||| Page 16 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## 7. Analysis of expenditure by activities |Cost of activities
Total 2021
Analysis of direct costs
Wages & salaries
Depreciation
Miscellaneous and general expenses
Rent, rates and water
Insurance
Light and heat
Printing, stationery, software and telephone
Maintenance
Cleaning
Premises expenses
Vaccination Hub reinstatement
Bank charges
Governance costs
Total 2021|Activities
undertaken
directly
2022
£
318,315
266,198
Activities
2022
£
69,215
72,516
1,715
24,529
11,731
39,970
9,002
24,248
20,864
15,404
16,548
361
12,212
318,315
266,198|Total
funds
2022
£
318,315
266,198
Total
funds
2022
£
69,215
72,516
1,715
24,529
11,731
39,970
9,002
24,248
20,864
15,404
16,548
361
12,212
318,315
266,198|Total
funds
2021
£
266,198| |---|---|---|---| ||||Total
funds
2021
£
69,043
71,606
3,275
25,168
10,863
30,100
2,276
9,447
14,283
19,631
-
295
10,211
266,198| ||||| Page 17 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## 8. Independent examiner's remuneration The independent examiner's remuneration amounts to an independent examiner fee of £3,265 (2021 - £3,125). ## 9. Staff costs |Wages and salaries|2022
£
69,215
69,215|2021
£
69,043| |---|---|---| |||69,043| The average number of persons employed by the Charitable Company during the year was as follows: ||2022|2021| |---|---|---| ||No.|No.| |Employees|2|3| No employee received remuneration amounting to more than £60,000 in either year. The Charitable Company does not employ any employees directly. The Facilities Manager, Janitor and Receptionist are employed by the NHS and are recharged monthly to the Charitable Comapny. Whilst the receptionist is on maternity leave, it has been agreed that 30% of the temporary receptionists salary is recharged to SECC. Key management personnel received remuneration of £42,353 (2021 £40,662) during the year. No benefits were received. ## 10. Trustees' remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2021 - £NIL). During the year ended 31 March 2022, no Trustee expenses have been incurred (2021 - £NIL). Page 18 (A company limited by guarantee) ## SHROPSHIRE EDUCATION AND CONFERENCE CENTRE ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## 11. Tangible fixed assets |Cost or valuation
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
Debtors
Due within one year
Trade debtors
Prepayments|Freehold
property
£
2,739,119
16,050
2,755,169
930,299
55,144
985,443
1,769,726
1,808,820|Fixtures and
fittings
£
375,809
10,865
386,674
323,419
10,166
333,585
53,089
52,390||Computer
equipment
£
51,785
622
52,407
36,491
7,206
43,697
8,710
15,294
2022
£
12,799
9,578
22,377|Total
£
3,166,713
27,537
3,194,250| |---|---|---|---|---|---| ||||||1,290,209
72,516
1,362,725| ||||||1,831,525| ||||||1,876,504| ||||||2021
£
21,610
8,880
30,490| ## 12. Debtors Page 19 ## SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## 13. Creditors: Amounts falling due within one year |Trade creditors
Other taxation and social security
Accruals and deferred income|2022
£
13,179
1,313
28,218
42,710|2021
£
7,778
18,435
11,899| |---|---|---| |||38,112| Page 20 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## 14. Statement of funds Statement of funds - current year |Statement of funds - current year|||| |---|---|---|---| |Balance at 1
April 2021
£
Unrestricted funds
General Funds
560,107
Restricted funds
Restricted building and fixtures and fittings
1,628,425
Vaccination Hub Reinstatement
-
1,628,425
Total of funds
2,188,532|Income
£
254,663
-
20,744
20,744
275,407|Expenditure
£
(251,035)
(50,732)
(16,548)
(67,280)
(318,315)|Balance at
31 March
2022
£
563,735| ||||1,577,693
4,196
1,581,889| ||||2,145,624| The restricted funds include the Education and Conference Centre building and some of the related fixtures and fittings, and a new fund relating to the funds received for reinstatement of the Vaccination Hub flooring. ## Statement of funds - prior year |Unrestricted funds
General Funds
Restricted funds
Restricted building and fixtures
and fittings
Total of funds|Balance at
1 April 2020
£
422,791
1,674,761
2,097,552|Income
£
357,178
-
357,178|Expenditure
£
(215,466)
(50,732)
(266,198)|Transfers
in/out
£
(4,396)
4,396
-|Balance at
31 March
2021
£
560,107| |---|---|---|---|---|---| ||||||1,628,425| ||||||2,188,532| Page 21 SHROPSHIRE EDUCATION AND CONFERENCE CENTRE (A company limited by guarantee) ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## 15. Analysis of net assets between funds Analysis of net assets between funds - current year |Tangible fixed assets
Current assets
Creditors due within one year
Total|Restricted
funds
2022
Unrestricted
funds
2022
£
£
1,577,693
253,832
4,196
372,004
-
(62,101)
1,581,889
563,735|Total
funds
2022
£
1,831,525
376,200
(62,101)
2,145,624| |---|---|---| Analysis of net assets between funds - prior year |Tangible fixed assets
Current assets
Creditors due within one year
Total|Restricted
funds
2021
£
1,628,425
-
-
1,628,425|Unrestricted
funds
2021
£
248,079
350,140
(38,112)
560,107|Total
funds
2021
£
1,876,504
350,140
(38,112)
2,188,532| |---|---|---|---| ## 16. Related party transactions During the year there were the following related party transactions with SaTH: expenditure of £88,693 (2021: £117,800), and income of £249,317 (2021: £410,567). At the end of the financial year, SaTH owed Shropshire Education and Conference Centre £12,025 (2021: £20,895). Page 22