Company registration number: 04193316 Charity registration number: 1087798
Barnsley Community Build
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 April 2022
Thorntons Accountants 176-178 Pontefract Road Cudworth Barnsley South Yorkshire S72 8BE
Barnsley Community Build
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Strategic Report | 2 |
| Trustees' Report | 3 to 6 |
| Independent Examiner's Report | 7 to 8 |
| Consolidated Statement of Financial Activities | 9 |
| Consolidated Balance Sheet | 10 |
| Balance Sheet | 11 |
| Consolidated Statement of Cash Flows | 12 |
| Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14 to 31 |
Barnsley Community Build
Reference and Administrative Details
Chairman
Mr JW Hayward
Charity Registration Number 1087798 Company Registration Number 04193316
Registered Office
Independent Examiner
185-189 Sheffield Road Barnsley South Yorkshire S70 4DE Thorntons Accountants 176-178 Pontefract Road Cudworth Barnsley South Yorkshire S72 8BE
Page 1
Barnsley Community Build
Strategic Report for the Year Ended 30 April 2022
The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 30 April 2022, in compliance with s414C of the Companies Act 2006.
Financial review
The Board of Trustees has considered the Charity's requirements for reserves in light of the main risks to the operation and continue to generate enough cash surplus to set aside funds to provide for the future and future projects. Modest cash reserves have been accrued sufficient to run the Charity. The Charity has, over the past few years, been able to acquire substantial property assets which continue to bring in rental income from other public sector bodies who lease some of the accommodation. The trustees are currnetly in the process of selling one of the rental properties to increase cash reserves
The strategic report was approved by the trustees of the charity on 28 April 2023 and signed on its behalf by:
......................................... Mr JW Hayward Chairman
Page 2
Barnsley Community Build
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 April 2022.
Objectives and activities
The principal objective of the Charity is the promotion, for the public benefit, of urban and rural regeneration in areas of social and economic deprivation (particularly Barnsley and surrounding South Yorkshire Area). Barnsley Community Build has developed a range of regeneration activities to meet this objective including:
The training of apprentices at its resource centre at Moorlands where the simulated training areas allow learners to develop valuable work skills and knowledge in preparation for proving their industrial competence in the construction industry.
The development of the apprentices' education skills particularly in English language and mathematics together with the ACE qualification in conjunction with CPA.
A community refurbishment scheme at Athersley.
The provision of social housing.
Seeking to keep local areas tidy and free of litter through the provision of clean up teams.
In setting plans and priorities for areas of work, the Trustees of Barnsley Community Build have had regard to the guidance from the Charity Commission of the provision of public benefit. In particular, the Trustees consider how planned activities will contribute to meeting the objectives they have set. How Barnsley Community Build delivers its principal charitable objective, that of social and economic regeneration in Barnsley and surrounding areas, is demonstrated in the above summary of Barnsley Community Build's objectives and achievements against that plan.
The public benefit arising from Barnsley Community Build's work is implicit in the services delivered and the access to these by the local and surrounding communities thus assisting them in their daily lives, providing opportunities for personal development as well as social and economic benefits to the area.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Trustees and Officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Mr JR Clark Ms SA Nixon Chairman: Mr JW Hayward
Page 3
Barnsley Community Build
Trustees' Report
Structure, governance and management
The Charity is a charitable company limited by guarantee, number 04193316. It is a registered charity number 1087798. It is governed by a Memorandum and Articles of Association.
On appointment new Trustees are provided with induction training in relation to their duties and responsibilities for the Charity. Trustees are also provided with additional training if required and take part in a range of activities to enable them to update and improve their skills and knowledge.
The Trustees, who are also the directors for the purpose of company law, who served during the year (or have been appointed subsequently) were:
Cllr J W Hayward J RClark SA Nixon F Bootha-King - resigned
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trustees have delegated day to day management of the Charity's activities to a management team with each separate project and area of charitable activity being directly managed by a project manager reporting to the Board. The Board meets on a monthly basis to provide oversight and strategic direction where they receive reports from the project managers and consider the monthly financial reports.
The Trustees regularly assess the risks to which the Charity is exposed, in particular major operational and financial risks, and are satisfied that systems are in place to mitigate exposure to the major risks.
The remuneration of the key management personnel identified within the financial statements will be determined, monitored and reviewed by the Trustees. Factors taken into account will include level of responsibility, context and complexity of the role, benchmarking from similar providers as well as current and potential business requirements.
Details of the Charity's transactions with its related parties are included in note ??.
Page 4
Barnsley Community Build
Trustees' Report
Financial instruments
The group's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the group’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The group does not use derivative financial instruments for speculative purposes.
The group’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The group uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
The group’s principal financial assets are bank balances and cash, trade and other receivables, and investments.
The group’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The group has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the group uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
The trustees recognise that the charity has been running at a defecit and have sold two investment properties after the year end, the proceeds will be used to pay off oustanding liabilities and give a cash injection to ensure the charity can meet its future obligations.
The trustees therefore consider that accounts should be prepared under the going concern basis.
Page 5
Barnsley Community Build
Trustees' Report
Statement of trustees' responsibilities
The trustees (who are also the directors of Barnsley Community Build for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the parent charitable company and the group and of the incoming resources and application of resources, including its income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the parent charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the parent charitable company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the parent charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 28 April 2023 and signed on its behalf by:
......................................... Mr JW Hayward Chairman
Page 6
Barnsley Community Build
Independent Examiner's Report to the trustees of Barnsley Community Build ('the Group')
I report to the charity trustees on my examination of the consolidated accounts of the Group comprising the Barnsley Community Build and its subsidiary undertakings for the year ended 30 April 2022.
Responsibilities and basis of report
As the trustees of the Group (and also its directors for the purposes of company law) you are responsible for the preparation of the consolidated accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of both Barnsley Community Build and the Group 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 consolidated 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 the Group's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Members of ACCA, 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 Barnsley Community Build 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.
Page 7
Barnsley Community Build
Independent Examiner's Report to the trustees of Barnsley Community Build ('the Group')
...................................... Mathew Parsons FCCA - For and on behalf of Thorntons Accountants Members of ACCA
176-178 Pontefract Road Cudworth Barnsley South Yorkshire S72 8BE
28 April 2023
Page 8
Barnsley Community Build
Consolidated Statement of Financial Activities for the Year Ended 30 April 2022 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Investment income 3 Other income 4 Total income Expenditure on: Charitable activities 6 Total expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 Note Income and Endowments from: Investment income 3 Other income 4 Total income Expenditure on: Charitable activities 6 Total expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 29,345 367,841 397,186 (503,209) (503,209) (106,023) (106,023) 454,656 348,633 Unrestricted funds £ 40,463 430,107 470,570 (541,575) (541,575) (71,005) (71,005) 525,661 454,656 |
Total 2022 £ 29,345 367,841 |
|---|---|---|
| 397,186 | ||
| (503,209) | ||
| (503,209) | ||
| (106,023) | ||
| (106,023) 454,656 |
||
| 348,633 | ||
| Total 2021 £ 40,463 430,107 |
||
| 470,570 | ||
| (541,575) | ||
| (541,575) | ||
| (71,005) | ||
| (71,005) 525,661 |
||
| 454,656 |
All of the group's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 18.
The notes on pages 14 to 31 form an integral part of these financial statements. Page 9
Barnsley Community Build
(Registration number: 04193316) Consolidated Balance Sheet as at 30 April 2022
| Note Fixed assets Tangible assets 13 Investments Current assets Debtors 15 Cash at bank and in hand 16 Total assets less current liabilities Creditors: Amounts falling due after more than one year 17 Net assets Funds of the group: Unrestricted income funds Unrestricted funds Total funds 18 |
2022 £ 433,543 168,855 602,398 2,328 1,925 4,253 606,651 (258,018) 348,633 348,633 348,633 |
2021 £ 448,141 168,855 |
|---|---|---|
| 616,996 | ||
| 6,013 23,038 |
||
| 29,051 | ||
| 646,047 (191,391) |
||
| 454,656 | ||
| 454,656 | ||
| 454,656 |
For the financial year ending 30 April 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
• The directors 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 provisions applicable to companies subject to the small companies regime.
The financial statements on pages 9 to 31 were approved by the trustees, and authorised for issue on 28 April 2023 and signed on their behalf by:
......................................... Mr JW Hayward Chairman
The notes on pages 14 to 31 form an integral part of these financial statements. Page 10
Barnsley Community Build
(Registration number: 04193316) Balance Sheet as at 30 April 2022
| Note Fixed assets Tangible assets 13 Investments Current assets Debtors 15 Cash at bank and in hand 16 Total assets less current liabilities Creditors: Amounts falling due after more than one year 17 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 18 |
2022 £ 425,053 168,856 593,909 86,475 255 86,730 680,639 (11,078) 669,561 669,561 669,561 |
2021 £ 436,672 168,856 |
|---|---|---|
| 605,528 | ||
| 79,900 6,501 |
||
| 86,401 | ||
| 691,929 (11,078) |
||
| 680,851 | ||
| 680,851 | ||
| 680,851 |
For the financial year ending 30 April 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
• The directors 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 provisions applicable to companies subject to the small companies regime.
The financial statements on pages 9 to 31 were approved by the trustees, and authorised for issue on 28 April 2023 and signed on their behalf by:
......................................... Mr JW Hayward Chairman
The notes on pages 14 to 31 form an integral part of these financial statements. Page 11
Barnsley Community Build
Consolidated Statement of Cash Flows for the Year Ended 30 April 2022
| Note Cash flows from operating activities Net cash expenditure Adjustments to cash flows from non-cash items Depreciation 5 Investment income 3 Working capital adjustments Decrease in debtors 15 Increase in creditors Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income 3 Purchase of tangible fixed assets 13 Net cash flows from investing activities Cash flows from financing activities Repayment of loans and borrowings Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at 1 May Cash and cash equivalents at 30 April |
2022 £ (106,023) 14,598 (29,345) (120,770) 3,685 66,627 (50,458) 29,345 - 29,345 - (21,113) 23,038 1,925 |
2021 £ (71,005) 27,121 (40,463) |
|---|---|---|
| (84,347) 18,866 53,510 |
||
| (11,971) | ||
| 40,463 (1,100) |
||
| 39,363 (27,281) |
||
| 111 22,927 |
||
| 23,038 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 14 to 31 form an integral part of these financial statements. Page 12
Barnsley Community Build
Statement of Cash Flows for the Year Ended 30 April 2022
| Note Cash flows from operating activities Net cash expenditure Adjustments to cash flows from non-cash items Depreciation 5 Investment income 3 Working capital adjustments (Increase)/decrease in debtors 15 Decrease in creditors Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income 3 Cash flows from financing activities Repayment of loans and borrowings Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at 1 May Cash and cash equivalents at 30 April |
2022 £ (11,290) 11,619 (5,200) (4,871) (6,575) - (11,446) 5,200 - (6,246) 6,501 255 |
2021 £ (10,080) 23,238 (7,801) |
|---|---|---|
| 5,357 20,902 (6,619) |
||
| 19,640 7,801 (27,281) |
||
| 160 6,341 |
||
| 6,501 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 14 to 31 form an integral part of these financial statements. Page 13
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
1 Charity status
The charity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 185-189 Sheffield Road Barnsley South Yorkshire S70 4DE
These financial statements were authorised for issue by the trustees on 28 April 2023.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Barnsley Community Build meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 30 April 2022.
No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity made a loss after tax for the financial year of £11,290 (2021 - loss of £10,080).
Page 14
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the statement of financial activities from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the charity and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination. Total comprehensive income is attributed to non-controlling interests even if this results in the non-controlling interests having a deficit balance.
Going concern
The trustees consider that there are no material uncertainties about the group's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the group.
Income and endowments
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 15
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Investment properties
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
Page 16
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
Business combinations
Business combinations are accounted for under the purchase method. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the group. All intra-group transactions, balances, income and expenses are eliminated on consolidation. In accordance with Section 35 of FRS 102, Section 19 of FRS 102 has not been applied in these financial statements in respect of business combinations effected prior to the date of transition.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Page 17
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:
1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and
3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the group.
Pensions and other post retirement obligations
The group operates a defined benefit pension scheme.Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.
The liability recognised in the Balance Sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.
Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.
Page 18
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
Financial instruments
Financial assets and financial liabilities are recognised when the group becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the group intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the group transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the group, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 19
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Page 20
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
The group uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The group does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
3 Investment income
| Income from rents Total for 2022 Total for 2021 |
Unrestricted funds General £ 29,345 29,345 40,463 |
Total funds £ 29,345 |
|---|---|---|
| 29,345 | ||
| 40,463 |
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Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
4 Other income
| Income from trading subsidiary Total for 2022 Total for 2021 |
Unrestricted funds General £ 367,841 367,841 389,719 |
Total funds £ 367,841 |
|---|---|---|
| 367,841 | ||
| 389,719 |
5 Expenditure on raising funds
Total costs £
6 Expenditure on charitable activities
| Note Depreciation, amortisation and other similar costs Staff costs Governance costs 7 Total for 2022 Total for 2021 |
Unrestricted funds General £ 152,820 14,518 326,871 9,000 503,209 541,575 |
Total funds £ 152,820 14,518 326,871 9,000 |
|---|---|---|
| 503,209 | ||
| 541,575 |
Total expenditure £
In addition to the expenditure analysed above, there are also governance costs of £9,000 (2021 - £7,000) which relate directly to charitable activities. See note 7 for further details.
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Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
7 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements Total for 2022 Total for 2021 8 Net incoming/outgoing resources Net outgoing resources for the year include: Depreciation of fixed assets |
Unrestricted funds General £ 9,000 9,000 7,000 2022 £ 14,518 |
Total funds £ 9,000 |
|---|---|---|
| 9,000 | ||
| 7,000 | ||
| 2021 £ 15,502 |
9 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the group during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
10Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2022 £ 303,213 14,486 6,207 323,906 |
2021 £ 301,465 14,771 5,622 |
|---|---|---|
| 321,858 |
The monthly average number of persons (including senior management / leadership team) employed by the group during the year expressed as full time equivalents was as follows:
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Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
| Trading activities Charitable activities |
2022 No 20 1 21 |
2021 No 23 1 |
|---|---|---|
| 24 |
No employee received emoluments of more than £60,000 during the year.
11Independent examiner's remuneration
| Examination of the financial statements | 2022 £ 9,000 |
2021 £ 7,000 |
|---|---|---|
12Taxation
The group is a registered charity and is therefore exempt from taxation.
13Tangible fixed assets
Group
| Cost At 1 May 2021 At 30 April 2022 Depreciation At 1 May 2021 Charge for the year At 30 April 2022 Net book value At 30 April 2022 At 30 April 2021 |
Land and buildings £ 622,949 622,949 186,277 11,619 197,896 425,053 436,672 |
Furniture and equipment £ 60,918 60,918 58,998 525 59,523 1,395 1,920 |
Motor vehicles £ 63,200 63,200 53,651 2,454 56,105 7,095 9,549 |
Computer equipment £ 13,048 13,048 13,048 - 13,048 - - |
Total £ 760,115 |
|---|---|---|---|---|---|
| 760,115 | |||||
| 311,974 14,598 |
|||||
| 326,572 | |||||
| 433,543 | |||||
| 448,141 |
Included within the net book value of land and buildings above is £425,053 (2021 - £436,672) in respect of freehold land and buildings and £Nil (2021 - £Nil) in respect of leaseholds.
Page 24
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
Charity
| Land and buildings £ Cost At 1 May 2021 622,949 At 30 April 2022 622,949 Depreciation At 1 May 2021 186,277 Charge for the year 11,619 At 30 April 2022 197,896 Net book value At 30 April 2022 425,053 At 30 April 2021 436,672 14Fixed asset investments Group Investment properties Investment properties Cost or Valuation At 1 May 2021 Provision At 30 April 2022 Net book value At 30 April 2022 At 30 April 2021 |
Furniture and equipment £ 60,918 60,918 58,998 525 59,523 1,395 1,920 |
Motor vehicles £ 63,200 |
Computer equipment £ 13,048 |
Total £ 760,115 760,115 311,974 14,598 326,572 433,543 448,141 2021 £ 168,855 |
||
|---|---|---|---|---|---|---|
| 63,200 | 13,048 | |||||
| 53,651 2,454 |
13,048 - |
|||||
| 56,105 | 13,048 | |||||
| 7,095 | - | |||||
| 9,549 | - | |||||
| 2022 £ 168,855 |
||||||
| Investment properties £ 168,855 |
||||||
| - | ||||||
| 168,855 | ||||||
| 168,855 |
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Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
The investment property is valued at original cost, The trustees are of the opinion that the valuation of the property at the year end is not materially different the original cost.
Details of undertakings
Details of the investments in which the group holds 20% or more of the nominal value of any class of share capital are as follows:
| Country of | Proportion of voting | Principal | ||
|---|---|---|---|---|
| Undertaking | incorporation | Holding | rights and shares held | activity |
| 2022 2021 |
||||
| Subsidiary undertakings | ||||
| BCB Trading Limited | UK | Ordinary | 100% 100% |
Construction and training |
Page 26
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
Subsidiaries
The loss for the financial period of BCB Trading Limited was £94,733 (2021 - £60,925) and the aggregate amount of capital and reserves at the end of the period was £(320,927) (2021 - £(226,194)).
| Charity 2022 £ Investment properties 168,855 Investment properties Cost or Valuation At 1 May 2021 Provision At 30 April 2022 Net book value At 30 April 2022 At 30 April 2021 There has been no valuation of investment property by an independent valuer. |
2021 £ 168,855 |
|---|---|
| Investment properties £ 168,855 |
|
| - | |
| 168,855 | |
| 168,855 | |
Page 27
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
Shares in group undertakings and participating interests
| Cost At 1 May 2021 At 30 April 2022 Net book value At 30 April 2022 At 30 April 2021 |
Subsidiary undertakings £ 1 1 1 1 |
Total £ 1 |
|---|---|---|
| 1 | ||
| 1 | ||
| 1 |
Details of undertakings
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:
| Country of | Proportion of voting | Proportion of voting | Proportion of voting | Principal | |||
|---|---|---|---|---|---|---|---|
| Undertaking | incorporation | Holding | **rights and shares ** | held | activity | ||
| 2022 | 2021 | ||||||
| Subsidiary undertakings | |||||||
| BCB Trading Limited | UK | Ordinary | 100% | 100% | Construction | ||
| 15Debtors | |||||||
| Group | Charity | ||||||
| 2022 | 2021 | 2022 | 2021 | ||||
| £ | £ | £ | £ | ||||
| Trade debtors | 2,328 | 6,013 | - | - | |||
| Due from group undertakings | - | - | 86,475 | 79,900 | |||
| 2,328 | 6,013 | 86,475 | 79,900 |
16Cash and cash equivalents
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Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
| Cash on hand Cash at bank |
Group 2022 £ 2021 £ 462 462 1,463 22,576 1,925 23,038 |
Charity 2022 £ 2021 £ - - 255 6,501 255 6,501 |
Charity 2022 £ 2021 £ - - 255 6,501 255 6,501 |
|---|---|---|---|
| 6,501 |
17Creditors: amounts falling due after one year
| Trade creditors Other creditors Accruals |
Group 2022 £ 2021 £ 22,957 32,121 219,978 142,887 15,083 16,383 258,018 191,391 |
Charity 2022 £ 2021 £ - - (5) (5) 11,083 11,083 11,078 11,078 |
Charity 2022 £ 2021 £ - - (5) (5) 11,083 11,083 11,078 11,078 |
|---|---|---|---|
| 11,078 |
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Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
18Funds
Group
| Group | ||||
|---|---|---|---|---|
| Unrestricted General Unrestricted General Charity Unrestricted General Unrestricted General |
Balance at 1 May 2021 £ 454,656 Balance at 1 May 2020 £ 525,661 Balance at 1 May 2021 £ 680,851 Balance at 1 May 2020 £ 690,931 |
Incoming resources £ 397,186 Incoming resources £ 470,570 Incoming resources £ 5,200 Incoming resources £ 7,801 |
Resources expended £ (503,209) Resources expended £ (541,575) Resources expended £ (16,490) Resources expended £ (17,881) |
Balance at 30 April 2022 £ 348,633 |
| Balance at 30 April 2021 £ 454,656 |
||||
| Balance at 30 April 2022 £ 669,561 |
||||
| Balance at 30 April 2021 £ 680,851 |
Page 30
Barnsley Community Build
Notes to the Financial Statements for the Year Ended 30 April 2022
19Analysis of net funds
| Group Cash at bank and in hand Net debt Cash at bank and in hand Net debt Charity Cash at bank and in hand Net debt Cash at bank and in hand Net debt |
At 1 May 2021 £ 23,038 23,038 At 1 May 2020 £ 22,927 22,927 At 1 May 2021 £ 6,501 6,501 At 1 May 2020 £ 6,341 6,341 |
Financing cash flows £ (21,113) (21,113) Financing cash flows £ 111 111 Financing cash flows £ (6,246) (6,246) Financing cash flows £ 160 160 |
At 30 April 2022 £ 1,925 |
|---|---|---|---|
| 1,925 | |||
| At 30 April 2021 £ 23,038 |
|||
| 23,038 | |||
| At 30 April 2022 £ 255 |
|||
| 255 | |||
| At 30 April 2021 £ 6,501 |
|||
| 6,501 |
Page 31
Barnsley Community Build
Statement of Financial Activities by fund for the Year Ended 30 April 2022
Unrestricted Funds
| Unrestricted | Funds | |
|---|---|---|
| Total | Total | |
| Unrestricted | Unrestricted | |
| Funds | Funds | |
| 2022 | 2021 | |
| £ | £ | |
| Income and Endowments from: | ||
| Investment income | 29,345 | 40,463 |
| Other income | 367,841 | 430,107 |
| Total income | 397,186 | 470,570 |
| Expenditure on: | ||
| Charitable activities | (503,209) | (541,575) |
| Total expenditure | (503,209) | (541,575) |
| Net expenditure | (106,023) | (71,005) |
| Net movement in funds | (106,023) | (71,005) |
| Reconciliation of funds | ||
| Total funds brought forward | 454,656 | 525,661 |
| Total funds carried forward | 348,633 | 454,656 |
This page does not form part of the statutory financial statements. Page 32
Barnsley Community Build
Detailed Statement of Financial Activities for the Year Ended 30 April 2022
| Income and Endowments from: Investment income (analysed below) Other income (analysed below) Total income Expenditure on: Charitable activities (analysed below) Total expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2022 £ 29,345 367,841 397,186 (503,209) (503,209) (106,023) (106,023) 454,656 348,633 |
Total 2021 £ 40,463 430,107 |
|---|---|---|
| 470,570 | ||
| (541,575) | ||
| (541,575) | ||
| (71,005) | ||
| (71,005) 525,661 |
||
| 454,656 |
This page does not form part of the statutory financial statements. Page 33
Barnsley Community Build
Detailed Statement of Financial Activities for the Year Ended 30 April 2022
| Income from other investments Rental income Sales Environmental sales Government grants received Grants and subsidies receivable Materials Wages and salaries Staff pensions Subcontract cost Hire of other assets Staff NIC (Employers) Hire of other assets (Operating leases) Lease of motor vehicles (Operating leases) Rent Rates Light, heat and power Insurance Repairs Telephone Computer software and maintenance costs Printing, postage and stationery Trade subscriptions Sundry expenses Cleaning Bad debts written off Motor expenses Depreciation of office equipment Staff bonuses Grants repayable |
Total 2022 £ - 29,345 29,345 192,326 175,515 - - 367,841 (23,325) (303,213) (6,207) (36,428) (2,107) (14,486) (180) (425) (12,573) (17,863) (12,105) (6,509) (389) (1,278) (5,928) (848) (3,088) (1,175) - (4,775) (22,774) 80 (2,965) - |
Total 2021 £ 1 40,462 |
|---|---|---|
| 40,463 | ||
| 176,253 213,466 21,388 19,000 |
||
| 430,107 | ||
| (45,497) (301,465) (5,622) (47,755) (5,305) (14,771) - (35) (12,488) (12,304) (15,367) (15,534) (147) (1,594) (6,797) (64) (233) (786) (482) 3,149 (13,444) - (3,010) (15,000) |
This page does not form part of the statutory financial statements. Page 34
Barnsley Community Build
Detailed Statement of Financial Activities for the Year Ended 30 April 2022
| Bank charges Freehold property depreciation Depreciation of plant and machinery (owned) Depreciation of fixtures and fittings (owned) Depreciation of motor vehicles (owned) Staff entertaining (allowable for tax) Accountancy fees |
Total 2022 £ (266) (11,619) (268) (257) (2,454) (784) (9,000) (503,209) |
Total 2021 £ (189) (11,619) (354) (350) (3,179) (4,333) (7,000) |
|---|---|---|
| (541,575) |
This page does not form part of the statutory financial statements. Page 35