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2021-03-31-accounts

REGISTERED COMPANY NO: 04155933 Registered Charity No: 1087692

JOHN STORER CHARNWOOD

ANNUAL REPORT AND FINANCIAL STATEMENTS

For the Year Ended 31 March 2021

JOHN STORER CHARNWOOD

CONTENTS

Report of the Board of Trustees Page 2 - 10
Independent Examiners Report Page 11
Statement of Financial Activities Page 12
Balance Sheet Page 13
Notes to the Financial Statements Page 14 - 24

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The Board of Trustees presents its report and financial statements for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Name: John Storer Charnwood Charity Registration Number: 1087692 Company Registration Number: 4155933

Board of Trustees

Mrs M Chaggar Mr G J Jackman Ms M Khandelwal Mrs S Leong (Chair) Mr D Roulston (Resigned 7/1/2021) Mr D Tapp Mr J West (Treasurer) Mr A Hull (Appointed 7/1/2021) Mr K Pyne (Appointed 7/1/2021)

Observers appointed by Charnwood Borough Council

Cllr P Mercer Cllr T Parton

Chief Officers and Secretary - Mrs K Frostick (Director and Secretary)

Registered Office - John Storer House, Wards End, Loughborough, Leicestershire, LE11 3HA

Accountants – Evolve Accountants and Business Advisors Limited, Unit 10 Phoenix Park, Telford Way, Coalville, Leicestershire, LE67 3HB

Bankers – Unity Trust Bank, 9 Brindley Place, Birmingham, B1 2HB and National Westminster Bank Plc, Market Place, Loughborough, Leicestershire

Solicitors - Moss Solicitors, 80-81 Woodgate, Loughborough, Leicestershire, LE11 2XE

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JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 (Continued)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Charity is a company limited by guarantee. It was incorporated on 7 February 2001 under a Memorandum of Association and is governed under its Articles of Association. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity.

Recruitment and Appointment of Trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as "The Trustees".

Since 2007, at the AGM approximately one third of the Board of Trustees stands down and there are elections to fill the vacant places.

All full members of John Storer Charnwood (JSC) may stand for election and have a vote in the elections. Additionally, individuals who have relevant skills and experience are 'headhunted' and invited to join the Board, typically as co-optees in the first instance.

Trustee Induction and Training

In the year ended 31 March 2021, trustees continued implementation of the Code of Good Governance for voluntary organisations. There is an induction programme for new trustees, which is tailored to their particular needs and all trustees are requested to attend safeguarding training.

Risk Management

The trustees have examined the major strategic business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to minimise these risks.

Organisational Structure

The charitable company has a Board of Trustees that meets regularly and is responsible for the governance framework and the strategic direction and policy of the Charity. At the yearend the Board had 8 members from a variety of professional backgrounds relevant to the work of the charity. The Director (also Secretary) sit on the Board, but has no voting rights.

In January 2006 trustees approved a detailed Scheme of Delegation, which sets out the hierarchy of powers from the member organisations at the top, through the Board of Trustees they elect. The powers go down to the Resources Committee, which is an executive committee to which the Board devolves some of its powers, and on to the Directors and then to Team Leaders and other staff. In 2019 the Board created non-operational trustee portfolios which give the opportunity for trustees to offer their skills, expertise and support to the staff team for their allocated portfolio ie Personnel/Policies/Staff and Volunteer Development and Welfare, Legal Matters, Well-being and Development, Fundraising, Business Development, Quality, Impact and Compliance and John Storer House (building development and maintenance).

Following the departure of the Chief Executive in February 2015 the Board appointed two Directors; a Director of Business Development and a Director of Corporate Services. This was changed to just one Director in July 2019.

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 (Continued)

The trustees have an annual cycle of meetings of the Joint Board and Joint Resources Committee, each of which has a theme. This includes a full annual planning cycle with monitoring and review of performance throughout the year. The "Joint" Board and Resources Committee refers to the closely associated charity John Storer House Foundation (JSHF), as the agendas for meetings cover issues for both charities.

Achievements and Performance For The Benefit Of The Public

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

During the year the Charity has maintained remote contact where possible with clients, members and volunteers via telephone befriending, activity packs, online sessions delivered via Zoom and regular newsletters. We discuss below how we responded to the needs of the wider Charnwood communities, working in partnership with others to provide timely, effective and relevant services during the pandemic. In previous years we have offered comparative figures in respect of the key services to highlight performance, however this year we are not able to do so with services being delivered in different ways.

Our Covid-19 Year

The Voluntary and Community Sector (VCS) has, along with the rest of the country, deeply felt the impact of Covid-19 during the financial year 2020-21. It has also, however, been at the forefront of the community-based pandemic response.

John Storer Charnwood has taken on so much during this year, fulfilling its obligations and more as a key strategic partner of Charnwood Borough Council. We may have closed our doors to the public for a large part of the year, but we were not idle.

Any comparison of figures that is usually given in this report would be meaningless in this context, so instead, we would like to outline what John Storer Charnwood and Shepshed Volunteer Centre have been doing to support the people of Charnwood during the pandemic.

Just prior to the government lockdown, John Storer Charnwood was approached to act as the lead VCS organisation to host and participate in supporting the residents of Charnwood with information, guidance and help via a centralised hub based at John Storer House. This became Charnwood Community Action (CCA), a partnership between Charnwood Borough Council, Fearon Community Association, Gorse Covert, The Bridge East Midlands and John Storer Charnwood.

Within the first week of the lockdown it became apparent that the Charnwood Food Poverty Network was at severe risk of collapse, due primarily to the age and vulnerability of its own workforce. Therefore, we requested all foodbanks provide data regarding their clients and stocks so that Charnwood Community Action could set up John Storer House as a centralised hub to provide support to those in hardship, particularly those who were also shielding.

Requests for assistance grew as each lockdown took place.

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 (Continued)

Christmas 2020 was a demanding period but also rewarding with many donations of food, money, gifts and toys received from both individuals and companies/organisations.

By February 2021 we had provided 20,000 food parcels.

For much of the period we were supporting 600 families per week with food assistance plus a considerable number of weekly telephone befriending calls, shopping and prescriptions collected for people who were extremely vulnerable or shielding.

Allotments and Well-being

We kept in regular telephone contact with all of our well-being clients and with some of our more vulnerable volunteers over this period.

We started Well-being back in late August with a special CLC referral for one person five days a week. We did bookable lunch clubs from 30 September until the 4[th] November – which stopped when the government guidelines changed.

We were able to run small socially distanced groups and we started these from the beginning of November with 27 Service users, however because of changes in Government Guidelines by the end of March we only had 12 services users accessing our well-being sessions on a regular basis.

We have been unable to host the Sense College or other students over this period at the allotments, but staff have been maintaining the site.

Community Transport

During the initial lockdown we had no volunteer drivers and were unable to provide a dial-aride service. Our paid drivers were re-deployed to deliver food parcels to those in hardship or shielding.

Food parcel Hospital
Dates DAR
Minibus		 delivery journeys
April - June 0
0		 6113 0
July - Sept 76
112		 7010 36
Oct - Dec 308
3614		 3012 125
Jan -March 543
200		 5131 211
Total Figures 927
3926		 21266 372

Volunteering

Although John Storer Charnwood regularly works with around 240 volunteers at any one time, the majority of the core volunteer force were advised to shield under the lockdown guidance. There were, however, some existing volunteers still active, with many of them carrying out tasks unfamiliar to them.

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JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 (Continued)

CCA was fortunate to be able to establish a partnership with Loughborough Against Corona, a student-led volunteer group, which offered a matching service for people who required community support e.g., shopping, prescription collections, dog-walking etc. With the support of LAC and other mutual aid groups that were been set up to respond to the pandemic within many towns and villages within the borough, CCA was able to concentrate on providing support to those with more complex needs.

During the 2020-21 financial year, 56 volunteers carried out tasks for CCA, 15 volunteers worked in the foodbank at John Storer House and a further 40 provided telephone befriending.

Shepshed

All services ceased on 23th March, with some stopping previous to this date. During the lockdowns, Shepshed Volunteer Centre coordinated the supply of books and jigsaws to the local community, with over 3000 books and over 500 jigsaws delivered to Shepshed residents by 12 volunteers. These volunteers also helped with food parcel delivery, while another five were telephone befrienders.

SVC re-opened in October and hosted its annual Scare Sheep festival, which was a great success with 41 entries and over 150 programmes sold. Visitors fed back that it was good to get out and attend a community event after such a long lockdown.

Covid-19 severely reduced our numbers, both of volunteers and clients who need our services, we are working hard to rebuild back to where we were before with our befriending, gardening and social car services, as well as re-opening and expanding sessions in the wellbeing garden.

John Storer House and Room Hire

John Storer House was not open to the public and so the community café and peer-led activities were suspended.

During the pandemic there were a small number of organisations still hiring rooms for essential services, such as St John Ambulance, AA and Al-Anon. We also recognise the value of long-term lets providing guaranteed income and currently have agreements with Business 2 Business and Ark Assessments.

Room hire bookings are steadily increasing with numbers for both returning groups and new hirers continuing to improve.

John Storer House Foundation

The Charity operates in partnership with and is closely connected with John Storer House Foundation (a charity) and there is some overlap in the trusteeship of the governing bodies of the two charities. The Foundation is landlord of John Storer House and it can be contacted through John Storer Charnwood.

Staff are now employed by John Storer Charnwood rather than jointly with John Storer House Foundation.

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JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 (Continued)

FINANCIAL REVIEW

The total incoming resources for the year were £759,412 (up from £718,378 in 2020). The total resources expended were £646,444 (down from £690,046 in 2020) resulting in an overall surplus before movement on pension provision of £112,968 (2020 was an overall surplus before movement on pension provision of £28,332).

Unrestricted income for the year was £292,749 and expenditure was £213,663, resulting in a surplus for the year before movement on pension provision and transfers of £79,086. The carry forward was £490,256 of which £270,619 is designated funds, as detailed in note 16, (£34,220) of negative pension reserve and £253,857 general free reserves.

Restricted fund income was £466,663 and the restricted fund balances at the end of the year were £104,918.

PENSIONS

John Storer Charnwood is a member of a defined benefit multi-employer scheme. The total deficit of the whole scheme as at 30 September 2017, date of the last full actuarial valuation, was £131.5 million. Further details can be found in note 18 on pages 24 and 25.

As noted above, changes introduced in the new Charities SORP require the future agreed pension contributions to be provided in the accounts (previously this liability was disclosed as a note to the accounts). This introduced a provision and an equal and opposite ‘negative’ reserve on the balance sheet of £34,220 (2020: £40,069).

The current debt recovery period has a further 5 years to run with agreed annual pension deficit recovery payments set out over that period.

John Storer Charnwood now operates a defined contribution scheme. Staff entry to the scheme is governed by the Auto-Enrolment rules and employer contributions are charged as they are incurred.

PLANS FOR FUTURE PERIODS

We remain committed to the principles of reduced reliance on grant funding and will continue to maintain and develop services and products that give us self-generated income.

We will continue to develop our provision for paid for Well-being services particularly for older people and those living with dementia, whilst balancing a service provision that is excellent, effective and meets the needs and expected outcomes of our customers.

During the current Business Plan period, we will continue to provide contracted services such as community transport and activities to individuals via the Community Life Choices Framework. We will also seek further Strategic Partner Agreements with Charnwood Borough Council as well as applying for relevant and applicable grants.

We will further rebuild and develop our community café offer ensuring we offer good quality food at affordable prices and promote the café to a wider customer base marketing the added social value of using the café to the customer and to the organisation enabling us to use any profits to support charitable activity.

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JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021 (Continued)

Trustees will continue to monitor our reserves and will ensure that any surplus money will be invested in the development, maintenance and promotion of our charitable purpose and assets.

We will continue to explore ways that we can work with partners to reduce costs, avoid duplication, maximise assets, maximise impacts and better support Charnwood.

We will continue to invest in our paid and voluntary workforce with training, learning, development, and retention.

RESERVES

The Trustees have reviewed the reserves held by John Storer Charnwood as at 31 March 2021. This review encompassed the nature of the income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves.

The review concluded that the Charity needs reserves both to enable it to progress its long term aims and to protect its current activities, in order to allow the Trustees to meet their responsibilities and ensure that it continues to operate on a going concern basis.

The Trustees have examined the needs, risks and challenges faced by the Charity in both the short term and the medium term and have formulated a policy to meet those needs, which are satisfied by the level of unrestricted reserves of £490,256 at the balance sheet date, £253,857 being general free reserves.

The reserves levels for JSC and JSHF have been reviewed across all three reserves - restricted, unrestricted designated, and unrestricted general free reserves. As noted above, a ‘negative’ reserve was introduced in respect of the pension liabilities. Trustees have adopted a joint reserves policy.

JSC restricted balances mainly relate to on-going projects and cost centres. JSC designated balances relate to wellbeing development, community transport, complementary public transport, service development, building improvement and the net book value of tangible fixed assets. The unrestricted general free reserves are available to trustees to supplement shortfalls in the year or in planning future years. However, as tenant in JSH, this now also includes all premises costs, particularly on-going maintenance.

INVESTMENT POLICY

Under the Articles of Association, the Charity has the power to invest in any ways the Trustees wish.

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JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 (Continued)

RESPONSIBILITIES OF THE TRUSTEES

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

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the 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 income and expenditure for the financial year. In preparing those financial statements, the trustees are required to:

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 to 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.

EMPLOYEE INVOLVEMENT AND EMPLOYMENT OF DISABLED PEOPLE

Employees have been consulted on issues of concern to them by means of regular Staff Meetings and have been kept informed on specific matters directly by management and through the JSC Staff Employment Manual.

The charity has implemented and updated a number of detailed policies in relation to all aspects of personnel matters and operational procedures.

A revised and updated JSC Staff Employment Manual (containing all JSC policies) and Health and Safety Policy have been made available to all staff.

In accordance with the charity's equal opportunity policy, the charity has long established fair employment practices in the recruitment, selection, retention and training of disabled staff.

Full details of these policies are available from the charity's offices.

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JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 (Continued)

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the 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 2015) and in accordance with the special provisions for small companies of Part 15 of the Companies Act 2006.

Approved by the Board of Trustees on 1 December 2021 and signed on its behalf by:

………………………………. MRS S LEONG (Chair)

………………………………. MR J R WEST (Treasurer)

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF JOHN STORER CHARNWOOD

____________

I report on the accounts of the charity for the year ended 31 March 2021, which are set out on pages 12 to 24.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Mr J Nixon FCCA Evolve Accountants and Business Advisors Limited Unit 10 Phoenix Park Telford Way Coalville Leicestershire LE67 3HB 1 December 2021

JOHN STORER CHARNWOOD

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2021

INCOMING RESOURCES
Incoming Resources from Generated
Funds :
Activities for generating funds:
Voluntary Income:
Investment Income:
Other Income:
Incoming resources from Charitable
Activities :
Total Incoming Resources
RESOURCES EXPENDED
Cost of Generating Funds
Charitable activities
Governance costs
Total Resources Expended
Net Incoming/(Outgoing) Resources
Transfers
Actuarial gains/(losses) on defined
benefit pension schemes
Net Movement on funds
Total funds brought forward
Total funds carried forward		 Note
4
2
3
6
5
7
15		 Unrestricted
Funds
£
12,780
12,534
1,790
-
265,645
292,749
5,144
182,297
26,222
213,663
79,086
-
79,086
1,170
80,256
410,000
490,256		 Restricted
Funds
£
3,683
62,176
-
37,795
363,009
466,663
10,223
420,490
2,068
432,781
33,882
-
33,882
-
33,882
71,036
104,918		 Total
Funds
2021
£
16,463
74,710
1,790
37,795
628,654
759,412
15,367
602,787
28,290
646,444
112,968
-
112,968
1,170
114,138
481,036
595,174		 Total
Funds
2020
£
212,073
40,600
406
-
465,299
718,378
112,686
548,706
28,654
690,046
28,332
-
28,332
1,100
29,432
451,604
481,036

The notes on pages 15 to 25 form part of these financial statements.

JOHN STORER CHARNWOOD

BALANCE SHEET AS AT 31 MARCH 2021

Fixed Assets
Current Assets
Stocks
Debtors
Cash at bank and in hand
Creditors
Amounts falling due within one year
Net Current Assets
Total Assets less Current Liabilities
Provisions
Net Assets
Funds
Restricted
Unrestricted
-
Designated
-
General
-
Pension Reserve
Total Funds		 Note
11
12
13
18
15
16

For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 and the Board of Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

These accounts were approved by the Board of Trustees and authorised for issue on 1 December 2021 and are signed on its behalf by:

……………………………………… ………………………………..……. MRS S LEONG (Chair) MR J WEST (Treasurer)

Company Registration Number 04155933

The notes on pages 15 to 25 form part of these financial statements.

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

(a)

Basis of Accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and 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 2015).

(b) Fund Accounting

(c)

Incoming Resources

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES (Continued)

(d) Resources Expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT, where it cannot be recovered due to partial exemption rules, and is reported as part of the expenditure to which it relates:

(e) Fixed Assets

Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, at varying rates:

Item % Basis
Office furniture and equipment 20 & 10 Straight line
Computer equipment 33 Straight line
Vehicles 25 Straight line

It is the charity’s policy not to consider any expenditure less than £1,000 for capitalisation.

Donated assets are brought in at their second hand value at the date of receipt.

(f) Pensions

The pension costs charged in the financial statements represent the contribution payable by the company during the year.

(g) Operating Leases

Rentals paid under operating leases are charged in the financial statements as they are incurred.

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

2. VOLUNTARY INCOME

Unrestricted
Funds
Restricted
Funds
£
£
Affiliation fees and donations
9,523
60,477
Fundraising income
3,011
1,699
12,534
62,176
3.
INCOMING RESOURCES FROM CHARITABLE ACTIVITES
Unrestricted
Funds
Restricted
Funds
£
£
FUNDS RECEIVABLE
Local Authorities
Leicestershire County Council
75,500
124,900
Charnwood Borough Council
158,813
130,982
Shepshed Town Council
-
7,000
National Government
Department for Transport
1,247
-
National Lottery Funding
-
99,348
TOTAL FUNDS RECEIVABLE
235,560
362,230
OTHER INCOME
Activities
-
779
Wellbeing Activities
25,212
-
Transport Services
4,873
-
Total other income
30,085
779
TOTAL INCOMING RESOURCES
FROM CHARITABLE ACTIVITIES
265,645
363,009		 Total
Funds
2021
£
70,000
4,710
74,710
Total
Funds
2021
£
200,400
289,795
7,000
1,247
99,348
597,790
779
25,212
4,873
30,864
628,654		 Total
Funds
2020
£
26,309
14,291
40,600
Total
Funds
2020
£
192,757
124,438
7,000
1,281
-
325,476
17,455
75,617
46,751
139,823
465,299

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

4. ACTIVITIES FOR GENERATING FUNDS

Other Income
Rental Income
Catering Income
Shop Sales		 Unrestricted
Funds
£
2,234
10,317
32
197
12,780		 Restricted
Funds
£
3,683
-
-
-
3,683		 Total Funds
2021
£
5,917
10,317
32
197
16,463		 Total Funds
2020
£
5,232
84,183
119,923
2,735
212,073

5. CHARITABLE ACTIVITIES EXPENDITURE

Legal and professional fees
Bank charges and interest
Office & other equipment
Salaries
Stationery and photocopying
Telephone and postage
Advertising
Travel and subsistence
Training fees and subscriptions
Bad debts
Pension costs
Unwinding of discount factor on
pension fund
Project expenses and materials
Hospitality
Transport:
Salaries
Running costs
Cleaning : Salaries
Materials
Heat, light & water
Repairs and maintenance
Insurance
Depreciation
Rent & Hire Fees
IT Maintenance
Miscellaneous		 Unrestricted
Funds
£
2,890
1,626
2,629
1,435
1,701
6,643
-
-
2,691
2,782
2,797
911
40
992
27,975
18,193
3,768
5,837
23,371
68,805
4,188
1,333
1,219
(1,017)
1,488
182,297		 Restricted
Funds
£
-
-
551
252,393
1,447
2,309
-
1,407
732
-
-
-
87,748
5
40,063
21,737
-
570
961
1,943
132
3,625
1,905
-
2,962
420,490		 Total
2021
£
2,890
1,626
3,180
253,828
3,148
8,952
-
1,407
3,423
2,782
2,797
911
87,788
997
68,038
39,930
3,768
6,407
24,332
70,748
4,320
4,958
3,124
(1,017)
4,450
602,787		 Total
2020
£
4,555
2,731
2,298
198,225
1,846
8,458
-
7,203
7,283
6,131
6,192
623
15,450
3,069
78,504
85,065
12,409
6,345
24,945
44,665
2,786
15,751
5,503
7,442
1,237
548,706

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

6. COST OF GENERATING FUNDS

Fund Raising Expenses
Catering : Salaries
Purchases
Miscellaneous
House : Catering Discounts
Shop Purchases
7.
GOVERNANCE COSTS
Salaries in respect of
management and admin
Independent Examination
and accountancy		 Unrestricted
Funds
£
103
1,125
369
3,497
-
50
5,144
Unrestricted
Funds
£
23,272
2,950
26,222		 Restricted
Funds
£
22
10,201
-
-
-
-
10,223
Restricted
Funds
£
2,068
-
2,068		 Total Funds
2021
£
125
11,326
369
3,497
-
50
15,367
Total Funds
2021
£
25,340
2,950
28,290		 Total Funds
2020
£
1,794
54,086
45,421
5,361
5,756
268
112,686
Total Funds
2020
£
25,754
2,900
28,654

8. NET INCOMING RESOURCES

Net incoming resources for the year is stated after charging the following:

Depreciation 2021
£
4,958		 2020
£
15,751

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

9. EMPLOYEES

Gross salaries and wages and
Employers national insurance
Employers pension costs
Total staff costs for the charity
Average number of employees:
JSC Payroll		 Full time 2021
£
365,281
2,797
368,078
2021
Part-time
20		 Full time 2020
£
368,978
6,192
375,170
2020
Part-time
28		 2020
£
368,978
6,192
375,170
6 2 28

None of the employees of the charity were paid in excess of £50,000 in the year.

Trustees were refunded expenses in connection with their duties as trustees of £Nil (31 March 2020: £Nil).

10. TAXATION

Taxation has not been provided on the result for the year of the charitable company on the grounds that Section 505 of the Income and Corporation Taxes Act 1988 or S252 of the Taxation of Chargeable Gains Act 1992 applies to the extent that these are applied to its charitable objects.

11. TANGIBLE FIXED ASSETS

Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Accumulated Depreciation
At 1 April 2020
Charge for year
On disposals
At 31 March 2021
Net Book Values
At 31 March 2021
At 1 April 2020		 Catering
Equipment
£
1,317
-
-
1,317
1,317
-
-
1,317
-
-		 Computer
Equipment
£
57,206
-
-
57,206
57,206
-
-
57,206
-
-		 Office
Fixtures
&
Fittings
£
40,555
-
-
40,555
40,555
-
-
40,555
-
-		 Vehicles
£
110,554
-
-
110,554
105,596
4,958
-
110,554
-
4,958		 Total
£
209,632
-
-
209,632
206,674
4,958
-
209,632
-
4,958

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

12. DEBTORS

Connected Charity – John Storer
House Foundation
Other debtors
13. CREDITORS (AMOUNTS FALLING DUE WITHIN ONE YEAR)
Trade creditors
Other Taxes and Social Security
Other creditors
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
Tangible fixed assets
-
Cash at bank and in hand
341,704
Other current assets
216,949
Current liabilities
(34,177)
Pension Provision
(34,220)
Net assets at 31 March 2021
490,256		 2021
£
188,803
27,370
216,173
2021
£
14,975
8,057
11,144
34,176
Restricted
Funds
-
103,694
1,224
-
-
104,918		 2020
£
56,803
86,904
143,707
2020
£
29,258
12,490
12,626
54,374
Total
-
445,398
218,173
(34,177)
(34,220)
595,174

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

15. RESTRICTED FUNDS

Complementary Public
Transport
Loughborough Community
Care Transport
Charnwood Disability Forum
Social Seeding
Pregnancy Testing (CSSP)
Charnwood Mental Health
Forum
Sileby Lunch Club
Local volunteering
Transport access
CBC MTC Worker
Shepshed VC – Local
COVID-19
Lottery Fund
Total Funds		 At
01/04/20
£
3,625
19,654
7,917
2,891
2,178
77
221
958
581
7,388
26,248
(702)
-		 Incoming
Resources
£
63,400
-
-
-
-
-
-
-
-
20,235
26,297
257,383
99,348		 Outgoing
Resources
£
67,025
-
-
-
-
-
-
-
-
27,744
18,168
220,009
99,835		 At
31/03/21
£
-
19,654
7,917
2,891
2,178
77
221
958
581
(121)
34,377
36,672
(487)
71,036 466,663 432,781 104,918

The Complementary Public Transport Fund relates to the grant agreement which the charity has entered into with Leicestershire County Council. The fund is restricted solely for the provision of Complementary Public Transport Services. The balance on the fund related to the net book value of a vehicle that was purchased for the service and the vehicle has now been fully depreciated.

The Loughborough Community Care Transport Fund relates to the transfer of funds from the charity Loughborough Community Care (LCCare), which was done when JSC took over responsibility for running various transport services previously carried on by LCCare. The fund is restricted for use for the promotion of community transport services in the Borough of Charnwood.

All other restricted funds are for specific projects as described above within the local community.

Where funds have been transferred from restricted funds to unrestricted funds, the release of the restrictions on the funds has been agreed by the funders or is allowed because the funds are time expired.

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

16. UNRESTRICTED FUNDS

NRESTRICTED FUNDS
Designated Funds:
Community Transport Fund
Complementary Public Transport Fund
Service Development Fund
Building Improvement Fund
Fixed assets held for charity use
Pension Reserve
General Funds		 Balance at
31 March
2020
£
183,113
22,074
6,742
45,284
1,333
258,546
(40,069)
191,523
410,000		 New
Designations
/Incoming
Resources
£
11,698
24,827
-
(23,119)
(1,333)
12,073
5,849
62,334
80,256		 Balance at
31 March
2021
£
194,811
46,901
6,742
22,165
-
31 March
2021
£
194,811
46,901
6,742
22,165
-
270,619
(34,220)
253,857
490,256

The Community Transport Fund is in respect of an amount put aside by the trustees to contribute to future costs associated with the vehicles used in the transport project.

The Complementary Public Transport (CPT) Fund is in respect of the charges made for CPT services less the costs of running the service that are not funded by specific grants included in the restricted funds shown in note 15.

The Service Development Fund has been set up to fund a Volunteer Community Services Development Worker post, a Project/Business Development post and investment in the building (up to £10,000). In 2019/20, the fund was used instead to further extend the Services Team Leader post for an additional year and develop the House and its facilities.

The Building Improvement Fund represents funds designated for the purpose of carrying out essential building improvement work.

The “Fixed assets held for charity use” fund represents the net book value of tangible fixed assets. Each year an amount is transferred to or from the fund representing the movement in the net book value of tangible fixed assets in the year.

The Pension Reserve is a negative reserve created due to the change in presentation required by FRS102 regarding the recognition of liabilities arising in respect of Pensions. This is more fully explained in note 18.

The amount of general funds at 31 March 2021 was £253,857. These funds are sometimes referred to as free reserves. However, the negative Pension Reserve of £34,220 is held against them.

The trustees have a reserves policy, in line with the guidance of the Charity Commissioners, and which meets the requirements of funders.

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

17. COMMITMENTS UNDER OPERATING LEASES

At 31 March 2021 the company had aggregate annual commitments under noncancellable operating leases as set out below.

Operating leases which expire:
Within 1 year
Within 2 to 5 years
After more than 5 years		 2021
£
212
7,519
-
7,731		 2020
£
-
7,713
-
7,713

18. PENSION

John Storer Charnwood participates in The Pensions Trust’s Growth Plan (The Plan) a multi-employer scheme which provides benefits to some 950 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2017. The valuation showed assets of £794.9 million, liabilities of £926.4 million and a deficit of £131.5 million. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional annual contributions to the scheme from the 1 April 2019 to 31 January 2025 amounting to £11.243 million. (Increasing by 3% on each 1 April.)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2020

18. PENSION (continued)

PRESENT VALUES OF PROVISION
31 March 2021
(£)
Provision Present Value
34,220
RECONCILIATION OF OPENING AND CLOSING
PROVISIONS
Provision at start of period
Unwinding of the discount factor (interest expense)
Deficit contribution paid
Remeasurements – due to change in assumptions
Remeasurements – amendments to contribution
schedule
Provision at end of period
INCOME AND EXPENDITURE IMPACT
Interest expense
Remeasurements – due to change in assumptions
Remeasurements – amendments to contribution
schedule
ASSUMPTIONS
31 March 2021
(% per annum)
Rate of discount
0.66		 31 March 2020
(£)
40,069
31 March 2021
(£)
40,069
911
(7,930)
(1,170)
-
34,220
31 March 2021
(£)
911
(1,170)
-
31 March 2020
(% per annum)
2.53		 31 March 2019
(£)
49,186
31 March 2020
(£)
49,186
623
(8,640)
(1,100)
-
40,069
31 March 2020
(£)
623
(1,100)
-
31 March 2019
(% per annum)
1.39

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using the full AA corporate bond yield curve to discount the same recovery plan contributions.

19. CONNECTED CHARITY

The affairs of John Storer Charnwood (JSC) are closely connected with those of John Storer House Foundation (JSHF) and there is an overlap of trusteeship between the governing bodies of the two Charities.

The financial affairs of the two charities are closely linked and this results in a sum due from JSHF to JSC. The balance owed by JSHF to JSC at 31 March:

2021 2020
Due from John Storer House Foundation £188,803 £56,803

The 2021 sum due from JSHF to JSC includes £132,000 invested in JSHF by JSC in respect of the aim of trying to keep within FSCS Compensation Limits.