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2020-09-30-accounts

REGISTERED COMPANY NUMBER: 03849276 (England and Wales) REGISTERED CHARITY NUMBER: 1089878

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30 September 2020

for

The Millennium Centre (St. Helens) Ltd

GR Taylor & Co Accountants 54-56 Ormskirk Street ST HELENS Merseyside WA10 2TF

The Millennium Centre (St. Helens) Ltd

Contents of the Financial Statements for the Year Ended 30 September 2020

Page
Report of the Trustees 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4 to 5
Cash Flow Statement 6
Notes to the Cash Flow Statement 7
Notes to the Financial Statements 9 to 15
Detailed Statement of Financial Activities 16 to 17

The Millennium Centre (St. Helens) Ltd

Report of the Trustees

for the Year Ended 30 September 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

STRATEGIC REPORT

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03849276 (England and Wales)

Registered Charity number

1089878

Registered office

The Millennium Centre Corporation Street St Helens Merseyside WA10 1HJ

Trustees

Mr A N Richards Mr N Wilding Mrs J P Jackson Mr R W Barton Mr P C Girling Mr R Watson Mr P R Sanderson (appointed 13.3.20) (resigned 4.8.20)

Company Secretary

Dr P H Richards

Independent Examiner

Sarah Nichols FCCA GR Taylor & Co Accountants 54-56 Ormskirk Street ST HELENS Merseyside WA10 2TF

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:

........................................................................

Mr A N Richards - Trustee

Page 1

Independent Examiner's Report to the Trustees of The Millennium Centre (St. Helens) Ltd

Independent examiner's report to the trustees of The Millennium Centre (St. Helens) Ltd ('the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Sarah Nichols FCCA GR Taylor & Co Accountants 54-56 Ormskirk Street ST HELENS Merseyside WA10 2TF

Date: .............................................

Page 2

The Millennium Centre (St. Helens) Ltd

Statement of Financial Activities

for the Year Ended 30 September 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Management charges
Millennium Centre Tenants
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Management charges
Millennium Centre Tenants
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
68,839
40,717
-
633
18,530
128,719
1,183
37,647
-
83,936
122,766
5,953
1,129,598
1,135,551		 Restricted
funds
£
-
-
416,467
-
32,574
449,041
-
12,022
399,467
-
411,489
37,552
188,089
225,641		 Year Ended
30.9.20
Total
funds
£
68,839
40,717
416,467
633
51,104
577,760
1,183
49,669
399,467
83,936
534,255
43,505
1,317,687
1,361,192		 Period
1.10.17
to
30.9.19
Total
funds
£
61,676
45,925
446,887
5,148
64,498
624,134
3,539
65,290
444,887
76,412
590,128
34,006
1,283,681
1,317,687

The notes form part of these financial statements

Page 3

The Millennium Centre (St. Helens) Ltd

Balance Sheet

30 September 2020
Notes
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
322,227
100
322,327
(66,647)
908,587
841,940
(28,716)
813,224
1,135,551
1,135,551		 Restricted
funds
£
-
-
-
225,641
-
225,641
-
225,641
225,641
225,641		 30.9.20
Total
funds
£
322,227
100
322,327
158,994
908,587
1,067,581
(28,716)
1,038,865
1,361,192
1,361,192
1,135,551
225,641
1,361,192		 30.9.19
Total
funds
£
332,090
100
332,190
424,250
619,465
1,043,715
(58,218)
985,497
1,317,687
1,317,687
1,129,598
188,089
1,317,687

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

The notes form part of these financial statements

continued...

Page 4

The Millennium Centre (St. Helens) Ltd

Balance Sheet - continued 30 September 2020

............................................. Mr A N Richards - Trustee

The notes form part of these financial statements

Page 5

The Millennium Centre (St. Helens) Ltd

Cash Flow Statement

for the Year Ended 30 September 2020

Year Ended
30.9.20
Notes
£
Cash flows from operating activities
Cash generated from operations
1
300,100
Net cash provided by/(used in) operating activities
300,100
Cash flows from investing activities
Purchase of tangible fixed assets
(10,978)
Net cash used in investing activities
(10,978)
Change in cash and cash equivalents in
the reporting period
289,122
Cash and cash equivalents at the
beginning of the reporting period
619,465
Cash and cash equivalents at the end of
the reporting period
908,587		 Period
1.10.17
to
30.9.19
£
(124,414)
(124,414)
(23,094)
(23,094)
(147,508)
760,199
619,465

The notes form part of these financial statements

Page 6

The Millennium Centre (St. Helens) Ltd

Notes to the Cash Flow Statement for the Year Ended 30 September 2020

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Year Ended
30.9.20
£
Net income for the reporting period (as per the Statement of Financial
Activities)
43,505
Adjustments for:
Depreciation charges
20,841
Decrease/(increase) in debtors
265,256
Decrease in creditors
(29,502)
Net cash provided by/(used in) operations
300,100		 Period
1.10.17
to
30.9.19
£
34,006
21,664
(160,815)
(19,269)
(124,414)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.19 Cash flow At 30.9.20
£ £ £
Net cash
Cash at bank and in hand 619,465 289,122 908,587
619,465 289,122 908,587
Total 619,465 289,122 908,587

The notes form part of these financial statements

Page 7

The Millennium Centre (St. Helens) Ltd

Error Messages from the Cash Flow Statement for the Year Ended 30 September 2020

** LAST YEAR - MOVEMENT IN CASH AND CASH EQUIVALENTS AS CALCULATED IN CASH FLOW STATEMENT DOES NOT AGREE TO MOVEMENT PER BALANCE SHEET COMPARE MOVEMENT ON CASH FLOW STATEMENT (147,508) TO MOVEMENT PER BALANCE SHEET CASH AND CASH EQUIVALENTS (140,734)

The Millennium Centre (St. Helens) Ltd

Notes to the Financial Statements

for the Year Ended 30 September 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land & buildings - 5% on cost and in accordance with the property
Fixtures and fittings - 10% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Period
1.10.17
Year Ended to
30.9.20 30.9.19
£ £
Donations 68,839 61,676

continued...

Page 9

The Millennium Centre (St. Helens) Ltd

Notes to the Financial Statements - continued for the Year Ended 30 September 2020

3.
OTHER TRADING ACTIVITIES
Year Ended
30.9.20
£
Fundraising events
633
4.
INVESTMENT INCOME
Year Ended
30.9.20
£
Rental income
46,154
Investment income
4,950
51,104
5.
INCOME FROM CHARITABLE ACTIVITIES
Year Ended
30.9.20
Activity
£
Management charges
Management charges
40,717
Services charges tenants
Millennium Centre Tenants
416,467
457,184
6.
RAISING FUNDS
Raising donations and legacies
Year Ended
30.9.20
£
Fundraising costs
1,183		 Period
1.10.17
to
30.9.19
£
5,148
Period
1.10.17
to
30.9.19
£
58,348
6,150
64,498
Period
1.10.17
to
30.9.19
£
45,925
446,887
492,812
Period
1.10.17
to
30.9.19
£
3,539

continued...

Page 10

The Millennium Centre (St. Helens) Ltd

Notes to the Financial Statements - continued

for the Year Ended 30 September 2020

7. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Management charges
Millennium Centre Tenants		 Direct
Costs
£
49,669
399,467
449,136

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period
1.10.17
Year Ended to
30.9.20 30.9.19
£ £
Depreciation - owned assets 20,841 21,664

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2020 nor for the period ended 30 September 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2020 nor for the period ended 30 September 2019.

10. STAFF COSTS

STAFF COSTS
Period
1.10.17
Year Ended to
30.9.20 30.9.19
£ £
Wages and salaries 16,324 5,738
16,324 5,738
The average monthly number of employees during the year was as follows:
Period
1.10.17
Year Ended to
30.9.20 30.9.19

No employees received emoluments in excess of £60,000.

continued...

Page 11

The Millennium Centre (St. Helens) Ltd

Notes to the Financial Statements - continued for the Year Ended 30 September 2020

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Management charges
Millennium Centre Tenants
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Management charges
Millennium Centre Tenants
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 ACTIVITIES
Unrestricted
funds
£
61,676
45,925
-
5,148
27,758
140,507
3,539
40,743
-
76,412
120,694
19,813
1,109,785
1,129,598		 Restricted
funds
£
-
-
446,887
-
36,740
483,627
-
24,547
444,887
-
469,434
14,193
173,896
188,089		 Total
funds
£
61,676
45,925
446,887
5,148
64,498
624,134
3,539
65,290
444,887
76,412
590,128
34,006
1,283,681
1,317,687

continued...

Page 12

The Millennium Centre (St. Helens) Ltd

Notes to the Financial Statements - continued for the Year Ended 30 September 2020

12. TANGIBLE FIXED ASSETS

COST
At 1 October 2019
Additions
At 30 September 2020
DEPRECIATION
At 1 October 2019
Charge for year
At 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019
13.
FIXED ASSET INVESTMENTS
Millennium Centre Trading Ltd
There were no investment assets outside the UK.
Investments (neither listed nor unlisted) were as follows:
Millennium Centre Trading Ltd
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors		 Land &
buildings
£
539,505
2,200
541,705
260,440
15,318
275,758
265,947
279,065
 Fixtures
and
fittings
£
108,199
8,778
116,977
55,174
5,523
60,697
56,280
53,025
30.9.20
£
100
30.9.20
£
100
30.9.20
£
158,994		 Totals
£
647,704
10,978
658,682
315,614
20,841
336,455
322,227
332,090
30.9.19
£
100
30.9.19
£
100
30.9.19
£
424,250

continued...

Page 13

The Millennium Centre (St. Helens) Ltd

Notes to the Financial Statements - continued for the Year Ended 30 September 2020

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20 30.9.19
£ £
Trade creditors 18,666 14,100
Social security and other taxes 2,911 -
VAT 7,139 44,118
28,716 58,218

16. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Millennium centre phases I & II
Millennium house
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Millennium centre phases I & II
Millennium house
TOTAL FUNDS		 At
1.10.19
£
1,129,598
176,811
11,278
188,089
1,317,687
Incoming
resources
£
128,719
448,424
617
449,041
577,760		 Net
movement
in funds
£
5,953
36,935
617
37,552
43,505
Resources
expended
£
(122,766)
(411,489)
-
(411,489)
(534,255)		 At
30.9.20
£
1,135,551
213,746
11,895		 At
30.9.20
£
1,135,551
213,746
11,895
225,641
1,361,192
Movement
in funds
£
5,953
36,935
617
37,552
43,505
37,552
43,505

continued...

Page 14

The Millennium Centre (St. Helens) Ltd

Notes to the Financial Statements - continued for the Year Ended 30 September 2020

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Millennium centre phases I & II
Millennium house
TOTAL FUNDS		 At
1.10.17
£
1,109,785
163,767
10,129
173,896
1,283,681		 Net
movement
in funds
£
19,813
13,044
1,149
14,193
34,006		 At
30.9.19
£
1,129,598
176,811
11,278
188,089
1,317,687

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Millennium centre phases I & II
Millennium house
TOTAL FUNDS		 Incoming
resources
£
140,507
482,478
1,149
483,627
624,134		 Resources
Movement
expended
in funds
£
£
(120,694)
19,813
(469,434)
13,044
-
1,149
(469,434)
14,193
(590,128)
34,006		 Resources
Movement
expended
in funds
£
£
(120,694)
19,813
(469,434)
13,044
-
1,149
(469,434)
14,193
(590,128)
34,006
14,193
34,006

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2020.

Page 15

The Millennium Centre (St. Helens) Ltd

Detailed Statement of Financial Activities for the Year Ended 30 September 2020

Detailed Statement of Financial Activities
for the Year Ended 30 September 2020
Period
1.10.17
Year Ended to
30.9.20 30.9.19
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 68,839 61,676
Other trading activities
Fundraising events 633 5,148
Investment income
Rental income 46,154 58,348
Investment income 4,950 6,150
51,104 64,498
Charitable activities
Management charges 40,717 45,925
Services charges tenants 416,467 446,887
457,184 492,812
Total incoming resources 577,760 624,134
EXPENDITURE
Raising donations and legacies
Fundraising costs 1,183 3,539
Charitable activities
Millennium centre tenants cost 399,467 444,887
Millennium house cost 16,241 27,558
Repairs & maintenance 19,970 27,281
Heat & lighting 2,542 3,133
Rates 6,786 3,634
Security 4,130 3,684
449,136 510,177
Other
Wages 16,324 5,738
Insurance 583 620
Motor and travelling 466 5,580
Telephone and stationery 6,432 6,867
Management and consultancy 15,266 23,079
Legal & accountancy cost 1,890 4,218
Carried forward 40,961 46,102

This page does not form part of the statutory financial statements

Page 16

The Millennium Centre (St. Helens) Ltd

Detailed Statement of Financial Activities

for the Year Ended 30 September 2020

Detailed Statement of Financial Activities
for the Year Ended 30 September 2020
Period
1.10.17
Year Ended to
30.9.20 30.9.19
£ £
Other
Brought forward 40,961 46,102
Bank Charges 70 72
Sundry expenses 12,776 1,675
Cleaning expenses 3,988 5,094
Memberships 2,687 495
Refuse expenses 835 -
Computer/Software maintenance 1,778 1,310
Freehold property 15,318 15,770
Fixtures and fittings 5,523 5,894
83,936 76,412
Total resources expended 534,255 590,128
Net income 43,505 34,006

This page does not form part of the statutory financial statements

Page 17