REGISTERED COMPANY NUMBER: 04016295 (England and Wales) REGISTERED CHARITY NUMBER: 1083231
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
Catalyst Stockton-On-Tees Limited
Anderson Barrowcliff LLP Chartered Accountants 3 Kingfisher Court Bowesfield Park Stockton on Tees TS18 3EX
Catalyst Stockton-On-Tees Limited
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 to 9 |
| Cash Flow Statement | 10 |
| Notes to the Financial Statements | 11 to 24 |
| Detailed Statement of Financial Activities | 25 to 26 |
Catalyst Stockton-On-Tees Limited
Report of the Trustees
for the Year Ended 31 March 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities
The main objectives were set by Trustees in the 2020-21 Business Plan, agreed by Trustees in July 2020. The business plan was discussed with VCSE partners through the Council of Interest and their comments were made known to the Board. The Business Plan contains an overall mission statement: Catalyst is a forward thinking and modern infrastructure organisation, providing leadership for the voluntary, community & social enterprise sector (VCSE) in Stockton-on-Tees. In 2020/21, the mission statement was underpinned by the following strategic objectives:
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1 To represent the VCSE effectively in discussions with partners from other sectors, from within and outside Stockton;
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2 To promote and manage a thriving culture of volunteering in Stockton, coordinating a large number of volunteering opportunities through the StocktonVolunteers website and through a programme of volunteer management;
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3 To offer support to VCSE bodies, including training, advice on governance and advice about the availability of funding;
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4 To facilitate a programme of community development activities, working closely with locally-based community groups to support communities to influence the services they receive, and to manage projects to meet specific needs;
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5 To remain financially sustainable and to increase the level of reserves;
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6 To develop and launch a programme of consultancy services for the voluntary sector, and others, using Associates rather than permanent employees to deliver the services.
An updated Business Plan was agreed in March 2021 for the current financial year.
Volunteers
All Catalyst Trustees are volunteers. In addition, Catalyst engaged some 40 volunteers in 2020-21, each deployed for several hours each week, on duties which included:
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Talking phone calls in the Community Hub;
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Collecting shopping and prescriptions for households who were shielding due to COVID;
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Helping people to use digital technologies, especially to contact services and friends or family;
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Spreading messages about healthy lifestyles, especially relating to COVID.
Performance Management
A new Performance Management process was agreed by Trustees in February 2021, and will be implemented this year. Expected performance outputs and outcomes are set in the annual business plan, and each officer will have clear personal goals as well as those set for the organisation as a whole. The process was piloted in 2020/21 with the Senior Management team, prior to roll-out this year.
Public Benefit Statement
As the VCSE infrastructure organisation for Stockton-on-Tees our existence is predicated on the belief that a strong and sustainable voluntary, community and social enterprise sector has significant, positive impact on the lives of people who live, visit and work in the borough. The business of Catalyst is to ensure that other agencies have the necessary support and resources to support and improve the lives of people across the borough, especially those living in significant need and under the pressures caused by economic deprivation. Catalyst is monitored by the VCSE through a Council of Interest to ensure it continues to serve in this capacity in addition to requirements of funders and other external partners.
Page 1
Catalyst Stockton-On-Tees Limited
Report of the Trustees for the Year Ended 31 March 2021
Achievements and Performance
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1 Representation: Catalyst represents the VCSE sector in Stockton at the Health and Well Being Board, Safer Stockton Partnership, Adult Care Partnership, Children's Services Partnership, and at Tees Valley level on the Tees Adult Safeguarding Board and the Combined Authority's Education, Employment and Skills Board and ESIF Committee;
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2 Engagement: That representation is made meaningful because Catalyst takes advice from the sector at ten different VCSE thematic forums that it coordinates on behalf of the sector. The Forums also provide opportunities for colleagues to develop joint-projects, funding bids, and to engage with commissioners and others on strategic matters.Catalyst also engages daily with the sector on social media, and produces a weekly e-bulletin with a mailing list of over 1000 people in Stockton;
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3 Support: Catalyst supports the sector through a comprehensive programme of training, and also supports colleagues to identify funding sources for the work that they do, or plan to do. Catalyst also offers support around governance for VCSE partners.A specific area of support is for groups working with refugees and asylum seekers, for whom the above support is customised to their needs;
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4 Volunteering: This was a new priority for Catalyst in 2020/21 and Catalyst engaged some 40 volunteers in for several hours each week, on duties which included taking phone calls in the Community Hub, collecting shopping and prescriptions for households who were shielding due to COVID, helping people to use digital technologies, especially to contact services and friends or family, and spreading messages about healthy lifestyles, especially relating to COVID;
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5 Specific services: Catalyst also operated a number of specific services in 2020/21 including a Care Home Navigator service to help people identify the right care home for their loved ones, a Holiday Enrichment Programme, working with partners to provide activities and food for school age children during holiday periods, and a Community Health Ambassador programme whereby volunteers worked with local communities to convey messages around healthy lifestyles.
FINANCIAL REVIEW
Catalyst has faced serious financial challenges in previous years and 2020/21 was a year of recovery. The amount held in unrestricted reserves was £283,100 in March 2020 and £328,902 in March 2021. After the Board made significant changes to the operation of Catalyst in 2019/20, a new Chief Executive came into post in May 2020, with a remit to secure the future of the organisation. Catalyst's recovery has been based on cost savings, increased income, and sound management of the organisation's finances. Catalyst's policy is to have at least the equivalent of three month's income in free reserves, with an ambition to carry at least £120,000 in free reserves. The Board will keep this under review. Currently unrestricted reserves are £328,902 of which free reserves are £78,121. Fixed assets are £250,632 and programme related investments are £149. The trustees are currently endeavouring to source additional funding to meet this deficit. Restricted reserves at the year end amounted to £128,503 (2020: £162,333).
RISKS
A risk register is discussed and updated each year by the Board of Catalyst. The main risks to the future of the organisation both in terms of running smoothly and developing into the future are:
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Political change locally: although the core support for the organisation is through the local authority the risk to Catalyst of political change would be mitigated by the good relationships generated across all parties;
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Failure to monitor financial performance adequately. The CEO and Catalyst Board receives management accounts reports every two months and Catalyst has a Finance Office who is competent in producing them;
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Loss of respect as VCSE strategic lead from Public Sector partners. The CEO has developed strong working relationships with partners;
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Inability to provide quality support services to VCSE clients. Catalyst is committed to delivering quality infrastructure services to the satisfaction of colleagues in all sectors, to mitigate this risk.
Page 2
Catalyst Stockton-On-Tees Limited
Report of the Trustees for the Year Ended 31 March 2021
Principal Funding Sources
The main themes for all sources of funding as represented in the accounts are:-
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Core Funding: grants paid from public bodies (local authority), charitable trusts, and from income from rent for rooms at Catalyst House. Catalyst is sustainable and able to act efficiently as the VCSE infrastructure body for Stockton-on-Tees which is its core charitable purpose. In addition, Catalyst routinely charges at 15% management fee for projects, and this contributes to funding core costs;
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Project income: fees derived from delivering projects commissioned by a range of bodies, to enhance the VCSE sector and strengthen relationships with public sector partners both key parts of the charitable objectives of Catalyst;
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Rent, room hire & services to tenants: derives income that can be used to offer enhanced services and support for the VCSE such as purchasing fundraising resources and hiring specific expertise to support the VCSE.
Investment Policy
Catalyst asks that all funds are used within ethical investments of medium or low risk - these are reviewed annually with the Board.
PLANS FOR FUTURE PERIODS Current & Future Developments
Catalyst will continue to deliver a range of services, grouped into four categories:
Strategic Partnership services
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Representation: a core function of Catalyst is to represent the sector in dialogue with colleagues in other sectors. Catalyst is the VCSE representative on the Health and Well Being Board, Community Safety Partnership, and a number of other multi-agency partnerships;
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Forums: a range of thematic groups, where VCSOs meet to discuss matters of mutual interest. Typically, these groups can identify needs, develop projects to meet those needs, and provide briefing to the Catalyst colleague who represents the sector at relevant committees and Boards;
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Grantfinder: Catalyst's subscription to Grantfinder enables us to work with VCSE partners to help identify funding that can help and support them;
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Governance support: Catalyst advises colleagues in the sector on all issues relating to their Governance, from constitutional issues, to Trustee recruitment;
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Conference: Catalyst's annual conference is attended by several hundred people from across the sector, and is a chance to hear about recent developments, plan for the future, and is a great networking opportunity;
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Bulletin: Every week Catalyst sends an e-bulletin to the sector, which contains news and information that's relevant to them, including the availability of new sources of funding;
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Bidding for funding: Catalyst can act as the lead body on applications for funding from partnerships of VCSE organisations in Stockton; once the funding has been secured, Catalyst acts as the managing agent, and is an interface between delivery partners and the funder.
Training and Market Development
Subject to annual agreement from the commissioner, Stockton on Tees Borough Council, this programme will operate for the next three years and into the future.
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Training programme: Catalyst is funded by the Local Authority to provide training opportunities to the sector. The programme runs to an academic year timetable, and each course is delivered by skilled and experienced trainers. Wherever possible the courses are delivered at no cost to the organisations taking part and organisations working or based in Stockton-on-Tees have access to a Professional Development Bursary of £500 per member of staff.
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Market development programme: linked to the Training Programme, above, Catalyst works with Commissioners and VCSE partners to identify gaps in the provision of VCSE services in Stockton. The aim is to enable Commissioners to contract with local organisations to deliver services wherever possible, and Catalyst uses the training programme, grantfinder and governance support to enable organisations to reach a position where they can deliver additional services to fill gaps.
Page 3
Catalyst Stockton-On-Tees Limited
Report of the Trustees for the Year Ended 31 March 2021
Volunteering
Volunteering Strategy: Catalyst coordinated and developed a new volunteering strategy for Stockton, for launch in June 2021. The Strategy includes the following aims:
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Increase the number of people committing to volunteering from all communities;
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Promote good practice in volunteering and volunteer management;
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Develop a model of flexible volunteering, including corporate volunteering, for use across the Borough;
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Ensure organisations across all sectors know how volunteering could work for and benefit them;
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Champion volunteers, recognising and celebrating the social and economic impact they have on the Borough.
The Strategy will be delivered through a multi-agency Volunteer Managers Group, which will liaise closely with Stockton Council's Community Engagement Team.Catalyst will also deliver a number of volunteering programmes including:
- Community Hub - currently delivering food and prescription services to members of community affected by the COVID pandemic, and possibly to expand to be a contact point for other services to the community - eg digital volunteers, befriending services, adult care support, Good Neighbours, on-going COVID support. Catalyst will aim to have a pool of volunteers available, to take on a range of tasks and roles for the community, and for those volunteers to available to partner organisations in Stockton. Currently funded to December 2021, with the prospect of extension as the role of the Hub expands;
Governing Document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Trustee Recruitment
Trustees are recruited in order to ensure that the skills needed on the Board are present. These are identified using a skills and experience matrix which was refreshed in February 2021.
There is an open application process which anyone can use to apply to be a Trustee. The Board reserve the right to accept or reject an application based on:
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Whether there is an obvious vacancy;
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Skills and experience of the person applying being needed on the Board;
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Availability and commitment of the person applying.
Page 4
Catalyst Stockton-On-Tees Limited
Report of the Trustees
for the Year Ended 31 March 2021
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04016295 (England and Wales)
Registered Charity number 1083231
Registered office
Catalyst House 27 Yarm Road Stockton-On-Tees Cleveland TS18 3NJ
Trustees
L Cooke O S Mack (resigned 24.5.21) G D Naidoo Chair S I Nelson P Burgum (resigned 10.9.20) C D Marshall Dr H D Dudiak Dr M Fearn (appointed 10.9.20)
The directors of the charitable company are its trustees for the purposes of charity law.
Company Secretary J Carling
Independent Examiner
Anderson Barrowcliff LLP Chartered Accountants 3 Kingfisher Court Bowesfield Park Stockton on Tees TS18 3EX
Chief Executive
Jon Carling (appointed May 2020)
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ G D Naidoo - Trustee
Page 5
Independent Examiner's Report to the Trustees of Catalyst Stockton-On-Tees Limited
Independent examiner's report to the trustees of Catalyst Stockton-On-Tees 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.
Responsibilities and basis of report
As the charity's trustees of the Company (and also 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 your charity's accounts as 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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered 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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
David Robertson FCA Anderson Barrowcliff LLP Chartered Accountants 3 Kingfisher Court Bowesfield Park Stockton on Tees TS18 3EX
Date: .............................................
Page 6
Catalyst Stockton-On-Tees Limited
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2021
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 134,738 Charitable activities 6 Strategic programmes 36,423 Training and development 19,499 Volunteering Management - Other trading activities 4 26,212 Investment income 5 2,190 Total 219,062 EXPENDITURE ON Raising funds 7 9,389 Charitable activities 8 Strategic programmes - Training and development 19,500 Core and organisational management 160,387 Volunteering Management - Total 189,276 NET INCOME/(EXPENDITURE) 29,786 Transfers between funds 20 16,016 Net movement in funds 45,802 RECONCILIATION OF FUNDS Total funds brought forward 283,100 TOTAL FUNDS CARRIED FORWARD **328,902 ** |
Restricted funds £ 46,328 262,896 - 32,935 - - 342,159 - 287,036 - 40,002 32,936 359,974 (17,815) (16,016) (33,831) 162,334 128,503 |
2021 Total funds £ 181,066 299,319 19,499 32,935 26,212 2,190 561,221 9,389 287,036 19,500 200,389 32,936 549,250 11,971 - 11,971 445,434 457,405 |
2020 Total funds £ 97,750 350,710 37,282 - 34,214 3,808 523,764 33,340 484,213 85,638 116,634 - 719,825 (196,061) - (196,061) 641,495 445,434 |
|---|---|---|---|
The notes form part of these financial statements
Page 7
Catalyst Stockton-On-Tees Limited
Balance Sheet 31 March 2021
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 15 250,632 Social investments 16 149 250,781 CURRENT ASSETS Debtors 17 119,116 Cash at bank and in hand 80,681 199,797 CREDITORS Amounts falling due within one year 18 (121,676) NET CURRENT ASSETS 78,121 TOTAL ASSETS LESS CURRENT LIABILITIES 328,902 NET ASSETS 328,902 FUNDS 20 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - 175,700 267,428 443,128 (314,625) 128,503 128,503 128,503 |
2021 Total funds £ 250,632 149 250,781 294,816 348,109 642,925 (436,301) 206,624 457,405 457,405 328,902 128,503 457,405 |
2020 Total funds £ 255,377 141 255,518 101,346 303,014 404,360 (214,444) 189,916 445,434 445,434 283,100 162,334 445,434 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 8
Catalyst Stockton-On-Tees Limited
Balance Sheet - continued 31 March 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. G D Naidoo - Trustee
The notes form part of these financial statements
Page 9
Catalyst Stockton-On-Tees Limited
| Cash Flow Statement for the Year Ended 31 March 2021 2021 Notes £ Cash flows from operating activities Cash generated from operations 23 44,301 Interest paid (1,388) Net cash provided by/(used in) operating activities 42,913 Cash flows from investing activities Purchase of tangible fixed assets - Purchase of social investments (8) Sale of social investments - Interest received 2,182 Dividends received 8 Net cash provided by investing activities 2,182 Change in cash and cash equivalents in the reporting period 45,095 Cash and cash equivalents at the beginning of the reporting period 303,014 Cash and cash equivalents at the end of the reporting period 348,109 |
2020 £ (155,635) (1,042) (156,677) (2,394) (141) 15,000 3,667 141 16,273 (140,404) 443,418 303,014 |
|---|---|
The notes form part of these financial statements
Page 10
Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
1. STATUTORY INFORMATION
Catalyst Stockton On Tees Limited is a private charitable company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found in the Trustees' Report.
The financial statements are presented in sterling which is the functional currency of the charitable company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared on a going concern basis under the historical cost convention, with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to the accounts. The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from grants, whether 'capital' grants or 'revenue grants', is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Room hire and printing income is recognised in the period the income relates to.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
The Charity received government grants in respect of the Coronavirus Job Retention Scheme. These grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the Charity will comply with the conditions attached to them. The grants were recognised using the accrual model.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Allocation and apportionment of costs
Support costs have been allocated between governance cost and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs.
continued...
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Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
2. ACCOUNTING POLICIES - continued
Allocation and apportionment of costs
Governance costs and supports costs relating to charitable activities have been apportioned based on an estimate of staff time spent on that activity. The allocation of support and governance costs is analysed in note 10.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Plant and machinery - 33% on reducing balance
Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation and accumulated impairment losses.
Freehold property is measured on a fair value basis at each reporting date with changes in fair value recognised in the Statement of Financial Activities.
Social investments
Social investments are included in the balance sheet at market value.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
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 one year or less from the date of acquisition or opening of the deposit or similar account.
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.
continued...
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Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
3. DONATIONS AND LEGACIES
| Unrestricted funds £ Donations 4,213 Grants 117,000 Coronavirus Job Retention Scheme (CJRS) 13,525 134,738 |
Restricted funds £ 6,328 40,000 - 46,328 |
2021 Total funds £ 10,541 157,000 13,525 181,066 |
2020 Total funds £ 750 97,000 - 97,750 |
|---|---|---|---|
Grants received, included in the above, are as follows:
| Stockton Borough Council National Lottery Community Fund Garfield Weston Foundation 4. OTHER TRADING ACTIVITIES Unrestricted Restricted funds funds £ £ Room hire, printing etc 26,212 - 5. INVESTMENT INCOME Unrestricted Restricted funds funds £ £ Other fixed asset invest - FII 8 - Bank account interest 2,182 - 2,190 - |
2021 £ 97,000 40,000 20,000 157,000 2021 Total funds £ 26,212 2021 Total funds £ 8 2,182 2,190 |
2020 £ 97,000 - - |
|
|---|---|---|---|
| 97,000 | |||
| 2020 Total funds £ 34,214 2020 Total funds £ 141 3,667 3,808 |
continued...
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Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
6. INCOME FROM CHARITABLE ACTIVITIES
| Activity Grants Strategic programmes Project income Strategic programmes Management income Strategic programmes Project income Training and development Grants Volunteering Management Project income Volunteering Management Grants received, included in the above, are as follows: Big Local Rothley Trust County Durham Community Foundation National Emergencies Trust Teesside University National Lottery Community Fund NHS Tees Valley CCG |
2021 £ 87,448 175,448 36,423 19,499 4,533 28,402 351,753 2021 £ 15,749 - 9,257 18,227 3,500 26,000 19,248 **91,981 ** |
2020 £ 100,750 215,136 34,824 37,282 - - 387,992 2020 £ 99,750 1,000 - - - - - 100,750 |
|---|---|---|
Grants received, included in the above, are as follows:
7. RAISING FUNDS
Other trading activities
| Unrestricted Restricted funds funds £ £ Staff costs 3,648 - Insurance 1,224 - Telephone - - Premises costs 3,120 - Staff Training - - Office Costs 1,397 - Staff travel - - Subscriptions - - Bank charges - - Depreciation - - 9,389 - |
2021 Total funds £ 3,648 1,224 - 3,120 - 1,397 - - - - 9,389 |
2020 Total funds £ 25,790 915 510 1,926 14 2,549 197 308 184 947 33,340 |
|---|---|---|
continued...
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Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
8. CHARITABLE ACTIVITIES COSTS
| Direct Support Costs (see costs (see note 9) note 10) £ £ Strategic programmes 287,036 - Training and development 19,500 - Core and organisational management 113 200,276 Volunteering Management 32,936 - 339,585 200,276 9. DIRECT COSTS OF CHARITABLE ACTIVITIES 2021 £ Staff costs 155,201 Insurance 343 Telephone 633 Staff training 7,310 Office costs 2,657 Publicity, advertising & event 1,582 Other project costs 25,139 Sub contracted work 146,236 Staff travel 184 Subscriptions 300 339,585 10. SUPPORT COSTS Governance Management costs £ £ Core and organisational management 162,483 37,793 Support costs, included in the above, are as follows: Management 2021 Core and organisational management £ Wages 83,772 Social security 15,452 Pensions 17,528 Insurance 661 Telephone 3,877 Premises costs 3,707 Staff training - Office costs 26,142 Staff travel 154 Carried forward 151,293 |
Totals £ 287,036 19,500 200,389 32,936 539,861 2020 £ 154,567 434 - 1,355 8,307 3,341 32,990 258,962 2,818 - 462,774 Totals £ 200,276 2020 Total activities £ 129,741 9,727 6,675 5,186 2,891 10,916 81 14,444 1,116 180,777 |
|---|---|
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continued...
Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
10. SUPPORT COSTS - continued
Management - continued
| 2021 Core and organisational management £ Brought forward 151,293 Subscriptions 5,058 Depreciation of tangible assets 4,744 Loss on sale of tangible fixed assets - Bank charges 1,388 162,483 Governance costs 2021 Core and organisational management £ Wages 18,978 Social security 1,558 Pensions 826 Accountancy and legal fees 16,431 37,793 |
2020 Total activities £ 180,777 1,747 5,365 87 1,042 |
2020 Total activities £ 180,777 1,747 5,365 87 1,042 |
|---|---|---|
| 189,018 | ||
| 2020 Total activities £ 22,999 2,103 911 8,680 34,693 |
||
| 34,693 |
Governance costs
11. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 4,745 | 6,312 |
| Deficit on disposal of fixed assets | - | 87 |
| Independent examiner's fees | 6,000 | 4,200 |
| Independent examiner other fees | 4,200 | - |
12. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Page 16
continued...
Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
13. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2021 £ 261,599 17,010 18,354 296,963 |
2020 £ 320,295 23,454 8,764 |
|---|---|---|
| 352,513 |
Included within wages and salaries is redundancy and termination payments amounting to £12,337 (2020: £26,368) relating to voluntary redundancy and negotiated termination payments.
The total amount of employee benefits received by key management personnel is £37,137 (2020 - £70,310). The Charity considers its key management personnel comprise the Chief Executive.
The average monthly number of employees during the year was as follows:
| Office staff Cleaner |
2021 11 - 11 |
2020 12 1 |
|---|---|---|
| 13 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| £60,001 - £70,000 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 97,750 Charitable activities Strategic programmes 34,824 Training and development - Other trading activities 34,214 Investment income 3,808 Total 170,596 EXPENDITURE ON Raising funds 33,340 Charitable activities Strategic programmes 94,346 Training and development 25,865 Core and organisational management 116,634 Total 270,185 |
2021 - Restricted funds £ - 315,886 37,282 - - 353,168 - 389,867 59,773 - 449,640 |
2020 1 Total funds £ 97,750 350,710 37,282 34,214 3,808 523,764 33,340 484,213 85,638 116,634 719,825 |
|---|---|---|
continued...
Page 17
Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
| 14. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total |
|||
| funds | funds | funds | |||
| £ | £ | £ | |||
| NET INCOME/(EXPENDITURE) | (99,589) | (96,472) | (196,061) | ||
| Transfers between funds | 14,281 | (14,281) | - | ||
| Net movement in funds | (85,308) | (110,753) | (196,061) | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 368,408 | 273,087 | 641,495 | ||
| TOTAL FUNDS CARRIED FORWARD | 283,100 | 162,334 | 445,434 | ||
| 15. | TANGIBLE FIXED ASSETS | ||||
| Freehold | Plant and | ||||
| property | machinery | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 April 2020 and 31 March 2021 | 241,000 | 184,279 | 425,279 | ||
| DEPRECIATION | |||||
| At 1 April 2020 | - | 169,902 | 169,902 | ||
| Charge for year | - | 4,745 | 4,745 | ||
| At 31 March 2021 | - | 174,647 | 174,647 | ||
| NET BOOK VALUE | |||||
| At 31 March 2021 | 241,000 | **9,632 ** | **250,632 ** | ||
| At 31 March 2020 | 241,000 | 14,377 | 255,377 | ||
| The Charitable company had the freehold property revalued by Joe Fraser Chartered Surveyors in | October 2017. | ||||
| The trustees believe the valuation still accurately reflects its fair value at 31 March 2021. |
Cost or valuation at 31 March 2021 is represented by:
| Freehold | Plant and | |||
|---|---|---|---|---|
| Property | machinery | Total | ||
| £ | £ | £ | ||
| Valuation 2014 | (11,668) | - | (11,668) | |
| Valuation 2018 | (1,000) | - | (1,000) | |
| Cost | 253,668 | 184,279 | 437,947 | |
| 241,000 | 173,651 | 425,279 | ||
| If the Freehold property had not been revalued they would have been included | at the following | historical costs: | ||
| 2021 | 2020 | |||
| £ | £ | |||
| Cost | 253,668 | 253,668 |
continued...
Page 18
Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
15. TANGIBLE FIXED ASSETS - continued
| Aggregate depreciation 16. SOCIAL INVESTMENTS MARKET VALUE At 1 April 2020 Additions At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accruals and deferred income |
185,673 2021 £ 262,770 32,046 294,816 2021 £ 28,139 5,940 1,592 400,630 **436,301 ** |
185,673 Programme related investments equity £ 141 8 149 149 141 2020 £ 91,867 9,479 101,346 2020 £ 12,296 4,646 - 197,502 214,444 |
||
|---|---|---|---|---|
Deferred income amounting to £384,835 included within accruals and deferred income, compromises funding received in advance and for funding for projects over a specific period which overlaps the year end.
continued...
Page 19
Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
19. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year 20. MOVEMENT IN FUNDS Unrestricted funds General fund Revaluation Reserve Restricted funds TVCF Training & Marketing Development Big Local Trust Jill Franklin Trust 0-19 Workforce Development Care Home Navigator Holiday Enrichment Refugees & Asylum Seekers Our Voice Our Rights Finding me Digital Inclusion TOTAL FUNDS |
At 1.4.20 £ 110,095 173,005 283,100 5 17,629 76,266 2,150 58,074 1,807 167 490 5,746 - - 162,334 **445,434 ** |
Net movement in funds £ 29,786 - 29,786 - - (22,814) - (9,689) 2,889 (167) 13,579 - (112) (1,501) (17,815) 11,971 |
2021 £ - Transfers between funds £ 16,016 - 16,016 - (17,629) - - - - - - - 112 1,501 (16,016) - |
2020 £ 1,908 At 31.3.21 £ 155,897 173,005 328,902 5 - 53,452 2,150 48,385 4,696 - 14,069 5,746 - - 128,503 457,405 |
|---|---|---|---|---|
continued...
Page 20
Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
20. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Big Local Trust Community Health Ambassadors 0-19 Workforce Development Care Home Navigator VONNE Safeguarding Project Holiday Enrichment Refugees & Asylum Seekers Community Hub Volunteer Manager School Impact Officer Keeping People Connected National Emergencies Trust Tackling Inequalities Fund Food Parcels Finding me Digital Inclusion National Lottery Core Funding TOTAL FUNDS |
Incoming resources £ 219,062 15,750 19,248 - 24,815 11,345 94,332 38,605 13,233 19,704 166 6,185 18,227 3,500 19,825 12,501 4,723 40,000 342,159 561,221 |
Resources Movement expended in funds £ £ (189,276) 29,786 (38,564) (22,814) (19,248) - (9,689) (9,689) (21,926) 2,889 (11,345) - (94,499) (167) (25,026) 13,579 (13,233) - (19,704) - (166) - (6,185) - (18,227) - (3,500) - (19,825) - (12,613) (112) (6,224) (1,501) (40,000) - (359,974) (17,815) (549,250) 11,971 |
|---|---|---|
continued...
Page 21
Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
20. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Revaluation Reserve Restricted funds TVCF Health Projects Training & Marketing Development Big Local Trust Health Initiatives Jill Franklin Trust Patient Engagement Independent Personal Commissioning Community Health Ambassadors Cancer Preventing Loneliness and Isolation Through Singing 0-19 Workforce Development Care Home Navigator Holiday Enrichment Refugees & Asylum Seekers Our Voice Our Rights TOTAL FUNDS |
At 1.4.19 £ 195,403 173,005 368,408 5 6,171 80,118 53,096 1,265 2,150 230 47,941 2,500 46,916 10,000 22,695 - - - - 273,087 641,495 |
Net movement in funds £ (99,589) - (99,589) - (6,171) (22,489) 24,009 (28,122) - - (47,941) (3,010) (46,916) (10,000) 35,379 2,386 167 490 5,746 (96,472) (196,061) |
Transfers between funds £ 14,281 - 14,281 - - (40,000) (839) 26,857 - (230) - 510 - - - (579) - - - (14,281) - |
At 31.3.20 £ 110,095 173,005 283,100 5 - 17,629 76,266 - 2,150 - - - - - 58,074 1,807 167 490 5,746 162,334 445,434 |
|---|---|---|---|---|
continued...
Page 22
Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
20. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Health Projects Training & Marketing Development Big Local Trust Health Initiatives Independent Personal Commissioning Community Health Ambassadors Cancer Preventing Loneliness and Isolation Through Singing 0-19 Workforce Development Care Home Navigator Street Clean Up Holiday Enrichment Distribution funds Refugees & Asylum Seekers Our Voice Our Rights TOTAL FUNDS |
Incoming resources £ 170,596 - 37,282 99,751 - - - - - 85,000 24,851 31,000 60,000 1,499 7,085 6,700 353,168 523,764 |
Resources Movement expended in funds £ £ (270,185) (99,589) (6,171) (6,171) (59,771) (22,489) (75,742) 24,009 (28,122) (28,122) (47,941) (47,941) (3,010) (3,010) (46,916) (46,916) (10,000) (10,000) (49,621) 35,379 (22,465) 2,386 (31,000) - (59,833) 167 (1,499) - (6,595) 490 (954) 5,746 (449,640) (96,472) (719,825) (196,061) |
|---|---|---|
Transfers between funds
Transfers from restricted funds to unrestricted funds are amounts agreed with the respective funders to reclassify the balances to unrestricted funds.
Transfers from unrestricted funds to restricted funds are transfers to cover an overspend on the restricted fund.
21. EMPLOYEE BENEFIT OBLIGATIONS
The charity operates a contributory defined contribution pension scheme for all employees. The charge for the year amounted to £18,354 (2020: £8,765). The amount outstanding at 31 March 2021 was £1,592 (2020: £Nil).
continued...
Page 23
Catalyst Stockton-On-Tees Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
22. RELATED PARTY DISCLOSURES
Information about related party transactions and outstanding balances is outlined below:
| Outstanding | |||
|---|---|---|---|
| Income | Expenditure | balances | |
| £ | £ | £ | |
| Stockton Borough Council - Trustee S Nelson is a Council | |||
| member and of Stockton Borough Council | |||
| At 31 March 2021 | 284,633 | 5,923 | 105,718 |
| At 31 March 2020 | 344,275 | 13,523 | |
| Eastern Ravens Trust - Trustee L Cooke is a Trustee of | |||
| Eastern Ravens Trust | |||
| At 31 March 2021 | - | 17,706 | (2,793) |
| At 31 March 2020 | - | 24,980 | (90) |
Outstanding balances due to / (from) the charity are unsecured and the nature of the consideration to be provided in settlement is under normal commercial terms.
23. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| OPERATING ACTIVITIES | ||||
|---|---|---|---|---|
| 2021 | 2020 | |||
| £ | £ | |||
| Net income/(expenditure) for the reporting period (as per the | ||||
| Statement of Financial Activities) | 11,971 | (196,062) | ||
| Adjustments for: | ||||
| Depreciation charges | 4,744 | 6,312 | ||
| Loss on disposal of fixed assets | - | 87 | ||
| Interest received | (2,182) | (3,667) | ||
| Interest paid | 1,388 | 1,042 | ||
| Dividends received | (8) | (141) | ||
| Increase in debtors | (193,469) | (60,272) | ||
| Increase in creditors | **221,857 ** | 97,066 | ||
| Net cash provided by/(used in) operations | **44,301 ** | (155,635) | ||
| 24.. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.4.20 | Cash flow | At 31.3.21 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 303,014 | 45,095 | 348,109 | |
| 303,014 | 45,095 | 348,109 | ||
| Total | 303,014 | 45,095 | 348,109 |
Page 24
Catalyst Stockton-On-Tees Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Coronavirus Job Retention Scheme (CJRS) Other trading activities Room hire, printing etc Investment income Other fixed asset invest - FII Bank account interest Charitable activities Grants Project income Management income Total incoming resources EXPENDITURE Other trading activities Wages Social security Pensions Insurance Telephone Premises costs Staff Training Office Costs Staff travel Subscriptions Bank charges Plant and machinery Charitable activities Wages Social security Carried forward |
2021 £ 10,541 157,000 13,525 181,066 26,212 8 2,182 2,190 91,981 223,349 36,423 351,753 561,221 3,648 - - 1,224 - 3,120 - 1,397 - - - - 9,389 155,201 - 155,201 |
2020 £ 750 97,000 - 97,750 34,214 141 3,667 3,808 100,750 252,418 34,824 387,992 523,764 22,895 1,717 1,178 915 510 1,926 14 2,549 197 308 184 947 33,340 144,660 9,907 154,567 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 25
Catalyst Stockton-On-Tees Limited
| Charitable activities Brought forward Insurance Telephone Staff training Office costs Publicity, advertising & event Other project costs Sub contracted work Staff travel Subscriptions Support costs Management Wages Social security Pensions Insurance Telephone Premises costs Staff training Office costs Staff travel Subscriptions Depreciation of tangible assets Loss on sale of tangible fixed assets Bank charges Governance costs Wages Social security Pensions Accountancy and legal fees Total resources expended Net income/(expenditure) |
Detailed Statement of Financial Activities for the Year Ended 31 March 2021 |
2021 £ 155,201 343 633 7,310 2,657 1,582 25,139 146,236 184 300 339,585 83,772 15,452 17,528 661 3,877 3,707 - 26,142 154 5,058 4,744 - 1,388 162,483 18,978 1,558 826 16,431 37,793 549,250 11,971 |
2020 £ 154,567 434 - 1,355 8,307 3,341 32,990 258,962 2,818 - 462,774 129,741 9,727 6,675 5,186 2,891 10,916 81 14,444 1,116 1,747 5,365 87 1,042 189,018 22,999 2,103 911 8,680 34,693 719,825 (196,061) |
|---|---|---|---|
This page does not form part of the statutory financial statements
Page 26