The Barn Owl Centre Limited
Trustees' Report and Unaudited Accounts 31 March 2021
Charity No. 1097410
Company No. 04147016
The Barn Owl Centre Limited - Content
TRUSTEES ANNUAL REPORT..............................................................................................2 INDEPENDENT EXAMINERS REPORT................................................................................3 STATEMENT OF FINANCIAL ACTIVITIES.........................................................................4 SUMMARY INCOME AND EXPENDITURE ACCOUNT.....................................................5 BALANCE SHEET...................................................................................................................6 NOTES TO THE ACCOUNTS..................................................................................................7
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The Barn Owl Centre Limited
TRUSTEES ANNUAL REPORT
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 04147016 Charity No. 1097410
Registered Office
Netheridge Farm Hempsted Gloucester GL2 5LE
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. ‘ The following Directors and Trustees served during the year: J.F. Houston V. Jones K. Treadwell
Company Secretary
J. Holley
Accountants
Correct Balance LLP Alexandra House 88 Pillowell Drive Gloucester GL1 3LZ
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention. and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
V. Jones - Trustee 30 January 2022
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The Barn Owl Centre Limited
INDEPENDENT EXAMINERS REPORT
Independent Examiner's Report to the trustees of The Barn Owl Centre Limited
I report to the charity trustees on my examination of the accounts of The Barn Owl Centre Limited for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (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 charity 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
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to. believe that:
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accounting records were not kept in accordance with 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 under section 396 of the 2006 Act other
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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 Charities SORP (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.
Patryk Machowiak . Correct Balance LLP Alexandra House 88 Pillowell Drive Gloucester GL1 3LZ 30 January 2022
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The Barn Owl Centre Limited STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 2021
| Income and endowments from: Notes Charitable Activities 4 Total Expenditure on: Rising funds 5 Other 6 Total Net gains on investments Net Expenditure 7 Net expenditure before other gains/(losses) Other gains and losses: Net Movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ Restricted funds 2021 £ Total funds 2021 £ Total funds 2020 £ 67,744 36,810 104,554 62,265 |
|---|---|
| 67,744 36,810 104,554 62,265 48,672 - 48,672 23,334 51,844 - 51,844 35,802 |
|
| 100,516 100,516 59,136 - - - |
|
| (32,772) 36,810 4038 1,763 |
|
| (32,772) 36,810 4038 1,763 - (14,729) |
|
| - 90,400 (11,600) - 113,397 124,997 |
|
| - 203,797 113,397 |
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The Barn Owl Centre Limited
SUMMARY INCOME AND EXPENDITURE ACCOUNT
for the year ended 31 March 2021
| Income Gross Income for the year Expenditure Depreciation and charges for impairment of fixed assets Total Expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2021 £ 104,554 104,554 100,516 0 100,516 4038 4038 |
2020 £ 62,265 |
|---|---|---|
| 62,265 | ||
| 59,136 14,729 |
||
| 73,865 | ||
| (11,600) | ||
| (11,600) |
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The Barn Owl Centre Limited '
BALANCE SHEET
at 31 March 2021
| Company No. 04147016 Notes Fixed assets Tangible assets 11 Current assets Stocks Cash at bank and in hand 12 Creditors: Amount falling due within one year 13 Net current liabilities Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds Restricted income funds 14 Unrestricted funds General funds 14 Reserves 14 Total funds |
2021 £ 262,568 11,319 (70,090) (58,771) 203,797 203,797 203,797 36,810 166,987 203,797 |
2020 £ 225,740 |
|---|---|---|
| 225,740 5,000 (2,888) |
||
| 2,112 (115,231) |
||
| (112,343) 113,397 |
||
| 113,397 | ||
| 113,397 | ||
| 7,592 105,805 |
||
| 113,397 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 30 January 2022
And sign d on its behalf by:
V. Jones Trustee 30 January 2022
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The Barn Owl Centre Limited NOTES TO THE ACCOUNTS
for the year ended 31 March 2021
1. Accounting policies
Basis of preparation
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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds - These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds - These are unrestricted funds earmarked by the trustees for particular purposes.
Revaluation funds - These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds - These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
Recognition of income - Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related expenditure - Where income has related expenditure the income and related expenditure is reported gross in the SoFA.
Donations and legacies - Voluntary income received by way of grants, donations and gifts is included in the the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on donations and gifts - Income from tax reclaims is included in the SoFA at the same time as the gift/donation to which it relates.
Donated services and facilities - These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material.
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Volunteer help - The value of any volunteer help received is not included in the accounts. Investment income - This is included in the accounts when receivable.
Gains/(losses) on revaluation of fixed assets - This includes any gain or loss resulting from revaluing investments to market value at the end of the year.
Gains/(losses) on investment assets - This includes any gain or loss on the sale of investments.
Expenditure
Recognition of expenditure - Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on raising funds - These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs.
Expenditure on charitable activities - These comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable - All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs - These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure - These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Leasehold property - over the life of the asset Plant and machinery – 25% Reducing balance basis Fixtures & fittings – 20% Reducing balance basis Motor vehicles - 25% Reducing balance basis
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the Statement of Financial Activities. No depreciation is provided in respect of investment properties.
This treatment conflicts with the requirements of the Companies Act 2006 that all properties should be depreciated. The directors consider that, because these properties are not held for consumption, but for their investment potential it is necessary to adopt the requirements of the FRSSE in order to give a true and fair view.
Intangible fixed assets and amortisation
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Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives
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are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight—line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
2. Company Status
The company is a private company limited by guarantee and consequently does not have share capital.
3. Statement of Financial Activities – prior year
| Income and endowments | Unrestricted funds 2020 | Total funds 2020 |
|---|---|---|
| from: | £ | £ |
| Charitable Activities | 62,265 | 62,265 |
| Total | 62,265 | 62,265 |
| Expenditure on: | ||
| Rising funds | 23,334 | 23,334 |
| Other | 35,802 | 35,802 |
| Total | 59,136 | 59,136 |
| Net gains on investments | - | - |
| Net Expenditure | 1,763 | 1,763 |
| Net expenditure before other | 1,763 | 1,763 |
| gains/(losses) | ||
| Other gains and losses: | (14,729) | (14,729) |
| Net Movement in funds | (11,600) | (11,600) |
| Reconciliation of funds: | ||
| Total funds brought forward | 124,997 | 124,997 |
| Total funds carried forward | 113,397 | 113,397 |
| 4. Income from charitable | activities |
| Income and endowments from: Charitable Activities Total |
Unrestricted 2021 £ Total 2021 £ Total 2020 £ 67,744 104,554 62,265 |
|---|---|
| 67,744 104,554 62,265 |
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5. Expenditure on rising funds
| Expenditure on: | Unrestricted | 2021 | Total 2021 | Total 2020 | Total 2020 |
|---|---|---|---|---|---|
| £ | £ | £ | |||
| Cost of generating voluntary | 48,672 | 100,516 | 23,334 | ||
| income | |||||
| Total | 48,672 | 100,516 | 23,334 | ||
| 6. Other Expenditure | |||||
| Expenditure on: | Unrestricted | 2021 | Total 2021 | Total 2020 | |
| £ | £ | £ | |||
| Employee Costs | 9,451 | 9,451 | 7,858 | ||
| Motor and Travel costs | 7092 | 7092 | 3,431 | ||
| Premises Costs | 24,143 | 24,143 | 15,044 | ||
| General Administration Costs | 2,644 | 2,644 | 6,873 | ||
| Legal and Professional Costs | 13,802 | 13,802 | 2,596 | ||
| Total | 51,844 | 51,844 | 35,802 | ||
| 7. Net expenditure before transfers | |||||
| Total 2021 | Total | 2020 | |||
| £ | £ | ||||
| This is stated after charging: | |||||
| Depreciation of owned fixed | - | 14,729 | |||
| assets | |||||
| 8. Staff costs | |||||
| Total 2021 | Total | 2020 | |||
| £ | £ | ||||
| Salaries and Wages | 9,332 | 7,302 | |||
| Social security costs | - | - | |||
| Pension costs | 119 | 556 | |||
| Total | 9,451 | 7,858 | |||
| No employee received emoluments in excess of £60,000 |
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9. Tangible fixed assets
| Land and | Plant and | Fixtures & | Motor | Total | |
|---|---|---|---|---|---|
| Cost of revaluation | buildings | Machinery | Fittings | Vehicles | |
| £ | £ | £ | £ | £ | |
| At 1 April 2020 | 240,469 | 38,632 | 4,298 | 11,989 | 295,388 |
| At 31 March 2021 | 240,469 | 38,632 | 4,298 | 11,989 | 295,388 |
| Depreciation | |||||
| At 1 April 2020 | - | - | - | - | - |
| At 31 March 2021 | - | - | - | - | - |
| Net book Values | |||||
| At 1 April 2020 | 240,469 | 38,632 | 4,298 | 11,989 | 295,388 |
| At 31 March 2021 | 240,469 | 38,632 | 4,298 | 11,989 | 295,388 |
| 10. Stocks | |||||
| Total 2021 | Total | 2020 | |||
| £ | £ | ||||
| Finished goods | - | 5000 | |||
| 11. Creditors | |||||
| Amounts falling due within | Total 2021 | Total 2020 | |||
| one year | £ | £ | |||
| Bank Loans and overdrafts | 19,530 | 16,883 | |||
| Other Loans | 11,781 | 13,878 | |||
| Trade Creditors | 21,002 | 816 | |||
| Other taxes and social security | (505) | ||||
| Loans from Trustees | 6,149 | 13,719 | |||
| Other Creditors | 6,222 | (1,700) | |||
| Accruals and deferred income | 5,406 | - | |||
| Total | 70,090 | 43,091 |
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12. Movement in funds
| Restricted funds Restricted funds income Total Unrestricted funds General funds Total funds Purposes and restrictions in relation to Restricted funds: Restricted fund |
At 1 April 2020 £ Income resources (including other gains/losses) £ Resources expended £ At 31 March 2021 £ 7,592 36,810 (7,592) 36,810 |
|---|---|
| 7,592 36,810 (7,592) 36,810 |
|
| 105,805 67,744 (6,562) 166,987 |
|
| 113,397 104,554 (14,154) 203,797 |
|
| the funds: • Improvements to internal workshop facilities • External extension of workshop facilities to support products sales. |
13. Analysis of net assets between funds
| Fixed assets Net current assets Total assets less current liabilities 14. Commitments |
Unrestricted funds £ 262,568 (58,771) 203,797 |
Total £ 262,568 (58,771) |
|---|---|---|
| 203,797 | ||
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| Operating Leases with expiry date Pension commitments |
2021 Land & Buildings £ 2021 Other £ 2020 Land & Buildings £ 2020 Other £ - - - - |
|---|---|
| 2021 £ 2020 £ |
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The pension cost charge to the company amounted to:
505
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15. Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
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