COMPANY REGISTRATION NUMBF.R 03071683 SANDWELL com￿[uNITy INFORMATION AND PARTICIPATION SERVICE LIMfTED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2022 Charity Number 11197702 SANDWELL COMMUNITY tNFORLMATIOIY AND PARTICIPATION SERVICE LIMITED COMPANY LIMtTED BY GUARAiYfEE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 CONTENrs PAGE Members of the Board and professional advisers Trust¢es Annual Re￿rt Independent ¢xaminerfs re￿rt to the members Stat¢m¢nt of financial activities (incorporating th¢ income and ¢xp¢nditure account) io Balance sheet Notes lo the financial statements 13 Page I SANDWELL COMMUNITY INFORMATION AND PARTICIPATION SERVICE LIMITED COMPANY LIMtTED BY GUARANTEE MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Registered ¢hgrity name Sandwell Community Inforn)ation and Participation Service Limited Charity Dumber 1097702 Compgny registration number 03071683 ReglsterÈd offlc¢ 2nd Floor The National Metalforniing Centre 47 Birniingham RoRd. West Bromwich West Midlands B70 6PY Dlrecton and trnstets Mrs A M D￿ker Mr A D Averis Mr T Davys Mrs E E Dunn Mr R Flatley Ms G Francis Mr J Gallagher Ms K C Y Gordon Mrs J Graniham Mrs E Plummer Mr T PU￿¢11 Mr L Smith M5 S Smith Mr M J Sp¢n¢er Seeretary Ms J Macmillan Inde￿ndent ex4miDer Mr J S Pye FCCA 23 Carline Crescent Shrewsbury Shropshire SY3 7EU Page 2 SANDWELL COM￿[uNITy INFORMATION AND PARTICIPATION SERVICE LIMITED COMPANY LIMrfED BY GUARANTEE TRUSTEES ANNUAL REPORT (cv YEAR ENDED 31 MARCH 2022 The Directors and Trustees, who a￿ also directors for the purw)ses of ciTrmpany law. present their report and the unaudi1￿ financial statements of the company for the year ended 31 March 2022. REFERENCE AND ADMINISTRATIVE DETAILS Refer¢n¢¢ and administrative details are shown in the schedyl¢ of memEKrs of th¢ board and professional advisers on page l of the financial staternents. THE DIRECTORS AIYD TRUSTEES The Directors and Trustees who seryed the company during the kxriThl were as follows: Mrs A M D(Kker Mr A D Averis Mr T Davy5 Mrs E E Dunn Mrs T Eaves Mr R Flatley Ms G Francis Mr J Gallagher Ms K Y C Gordon Mrs J Graniham Mr J LAwl¢y Mrs E Plummtr Mr T Purcell Mr L Smith Ms S Smith Mr M J Spencer Mr L Turner Mr A D Williams Mr A D Williams r¢tir¢d on 28 July 2021. Mr L Turner retired on 13 Seplemb¢r 2021. Mrs T Eave5 retired on 25 Sepi¢mb¢r 2021. Mr J Lawley retired on 14 March 2022. Mrs E E Dunn was appointed on 25 September 2021. Mr R Flatley was appointed on 25 September 2021. Mr J Gallagher was appointed 25 September 2021. Ms K C Y Gordon wa5 apw>inted 25 September 2021. Mrs E Plummer was appointed on 25 September 2021. Page 3 SANDWELL COMMUNITY INFORMATKOI¥ AND PARTICIPATIOIY SERVICE LIMrrED COMPANY LIMITED BY GUARAJyfEE TRUSTEES ANNUAL REPORT YEAR ENDED 31 ￿RCH 2022 STRUCTURE, GOVERNAI¥CE AND MANAGEMENT (a) Governing document Sandwell Community Inforn]alion and Participation Service Limited (fornierly known &s Sandwell Tenanls and Residents Federation Limited) achieved charitable .5tatU5 on 28 May 2003 (registsred number 1097702) and is a company limited by guarantee (registrred number 03071683). (b) Organisational structur¢ Sandwell Community Inforniation and Participation Service Limitd (SCIPS) has a management committee of up to 15 membeTS who meet ￿ularlY and are resN)nsible for the strategic dI￿tIOn and licy of the charity- A scheme of delegation is in place and day to day resFK>nsibility for the provision of services rests with a manager. Jan Macmillan who is res￿nsIble for ensuring that the charity delivers the services SP￿lfIed. The manager has responsibility for ensuring the day to day operational maTJagement of the harity. individual supervision of the sthff tcam and ensuring thal the staff team continue to develop their skills and workin8 pwli¢es in line with good practice. (c) Appointment of trustecs The directors of the company are also charity trustees for the purposes of charity law. Thc wmpany was established under a Memorandum of Association which established the objects and FK)wer5 of the charitable company and is governed under its Arti¢l¢s of Association. In the event of the company being wound up members are required to contribute an amount not ¢xceeding £1. Und¢r th¢ r¢quirements of the Memorandum and Articles of A&socialion ITUStees are elected to the mAnag¢menl committee to serve for a period of up to three y¢ars after which trnstees must be re- elect¢d at the n¢xt annual general mcetin8. (d) Trust¢¢ indu¢tion and training New trustees undergo an orientstion day to brief them on legal ob'ligations under charity law, the ontent of the charity's Memornndum and Articles of Asswiation, the committee and decision making process and the recent financial performance of th¢ charity. During the induction they meet key employees and other tswstees and are supplied with a wmpr¢hensiv¢ board manual containing copies of all Qu￿ent policies and procedures. Tn￿teeS are encouraged to attend appropriate external training events where these will facilitate the undetstanding of their role. (e) Risk management The trustee5 have examin¢d the major strnte8ic. business and operational issues which the organi5ation faces. They confirm that syst¢ms are in place to enable regular reports to be primluced so that necc55ary steps can be tsken to redu¢e risks. Page 4 SANDWELL COMMUNITY INFORMATION AIYD PARTICIPATION SERVICE LIMrrED COMPANY LIMITED BY GUARANfEE TRUSTEES ANNUAL REPORT (¢• YEAR ENDED 31 MARCH 2022 ORJECTIVES AND ACTIVITIES Th¢ objects and principal activities of the charity are to promote the benefits of the r¢sidents of the Metropolitan Borough of Sandwell (SMBC) tn the West Midlands by associating the residents. I￿al authorities and voluntary organisatioD5 with th¢ common aim of: (a) advancing education. protecting health and relieving ￿verty or sickne&8 and (b) providing or assisting in the provision of facilities in the interests of social welfare for recreation and leisure time oecupation. In order. therefore, to fulfil its objecls and principal a￿1vItieS the charity provides suppo infornialion. Irdining and advocacy to tenant and community groups in the Metrow)litsn Borough of Sandwell. Ihus aiming to provide communities with the confidenc¢ and skill to enable them to influ¢nce decisions which affect their homes and environment. ACHIEVEMENfs AND PERFORMANCE a) Continued delivery of cor¢ scrviG¢s SCIPS has continued to deliver servi¢es and supp)rt to tsnants. and r¢sid¢nts' groups across Sandwell. We were abl¢ lo re-engage our Board irt monthly fac¢-tfrface meetings providin8 the option for members to attend digithlly if preferred. We hosted in-p¢rson training and provided n¢lworking opportunities for residents and groups to reconn¢th posl Covid-19. We continued to circulate relevant upto-d8t¢ infonnation through 12 newslerters and provid¢d fundin8 and news articles via our websit¢. A total of 239 news grticles were uploaded receiving ov¢r 8.0(M) hits and 712 fvnding opportunities were circulated which rrf¢iv¢d 17,525 hits. In September 2021 we hostd our AGM with the new Director of Housing {SMBC) and represenlaiive of the Bi8 Local as keynote speakers. b) D¢liv¢ry of Di8i-Comm proje¢t The second year of the Big Lottery fimded Di8i-Comm project has delivered digital support to communiti¢s across Sandwell. It is delivered in Partnership with Si Albans Community A￿)CIatiO both organisations developing and providing key training and support to residents including: Digital support packages delivered in residents. hi)m&s to siippw)rt their use of digital in their daily activities Build digitsl activities into a day care setting Click and Chat training course is an 8-week course designed to Provide suppM)rt for first time users. In addittow we have develowl a Trnining the Trainer course to enable others to deliver the Course Providing digitally enabled tablets that are loaned out to participants Survey of community centres in Sandwell to identify the supwrt needed to d¢velop a digital support offer. We have secured funding to deliver a pilot to wist community centres to develop their digital offer. Page 5 SANDWELL COMMUNITY INFORMATION AND PARTICIPATION SERVICE LIMITED COMPANY LIMITED BY GUARAiYfEE TRUSTEES ANNUAL REPORT (w YEAR ENDED 31 MARCH 2022 c) Hateley Cross Bi8 LAKal In July 2021 the Hat¢ley Cross Big L{￿Al Partnership g&ineAI approval for its f￿1 4y¢ar community plan. They engaged SCIPS to provide IM)th the Local TTUSted. (hganisation role and Communty Development Support. Th¢ Parthership have delivered 8 number of key projects includin8 Supporting and funding 4Community Trust to establish a community Hub Installing new plAy provision on two green spaces in the area Takins part in a national research progrnmme to dev¢lop the small grant progTamme Commissioned a youth organisaiion to deliver a comprehensive programme of activities to engage young people in the area and establish how the programme can meet their needs. Commissioned a 5￿cIaliS1 contractor to research the needs of th¢ I￿al area around training and employment to identify how ihe programme can ￿dresS these needs. d) SMBC Tenant Engagement StTat¢gy Sandwell Coun¢il 8pproved its new Tenant Engagement Stra*gy in May 2021. SCIPS have continued to support the development of the strategy including= Developin8 and d¢liv¢ring 4 iraining se&sions on the new White Paper for Social Housing. There were delivered di8itslly and were attended by 120 SMBC stsff Assisting the council develop its Fire Safety Strntegy Recruiting? trainin8 and supporting the new Resident Scrutiny Panel in establishing a strong wup of l O residents who will fornially scrutinise the Councils Housing service Contributing to the developm¢nt of the Tenant Satisfaction Measures required under the new social housing legislation Providing support around severnl key consultation processes including the de-designation of tow¢r block& direct debits, and personal em¢rg¢ncy evacuation plans (PEEPS). FIL¥ANCIAL REVIEW SCIPS is reliant upoft the income d¢riv¢d from grants it receives from organi￿110ns such as Sandw¢ll Metropolitan Borough Council. (SMBC) and other grant making organisations. The Service L&vel Agreement (SLA) with Sandwell MBC runs unlil 31 March 2023. We are currently negotiating a new 3 year SLA with SMBC. W¢ are ¢urrently developing a funding application to deliver the succession to our Digi-comm project. The Statement of Financial Activities $hows a 8ross income of LISI934 (2021 £335.076) and ¢xpenditur¢ of £422J53 {2021- £303,304). The reserves are primarily to cover the development and future running expenses of all aspects of the organisation. The excess unr¢stri¢t¢d trs¢rve will ￿ used to pilot activities and initialiv¢s which will enable SCIPS to secure ￿ndIng for new areas of work in the future. Page 6 SANDWELL COMMUNITY INFORMATION AI¥D PARTICIPATION SERVICE LIMrfED COMPANY LIMrrED BY GUARANfEE TRUSTEES A1￿uAL REPoRT(eth¥￿e￿ YEAR ENDED 31 MARCH 2022 Reserves FKJlicy The mistees have emblished a policy wkn¢reby the unrestrlc￿d fund5 not committed or invested in tangible fixed &ssets ("th¢ fr¢¢ wrves") held by the charity should be approximately 6 months basic nning Costs and potential redundancy ￿sts which equates to approximately £1 00,(M)O in g¢nernl funds. PLANS FOR FirruRE PEIUODS a) Securing SMBC Core Grdnt The ¢ore grant from Sondw¢ll Council is due ￿ end in March 2023. We are currently in ne8Otiation with k¢y offic¢rs to s¢cure a further 3-year commitment to continue to deliver Support to tenants and residents a¢ross Sandwell. b) Developing the SMBC T¢nant Engag¢ment Straiegy We will continue to work with Sandwell Council to develop the Tenants. Engagement Strategy. The Strdtegy will ensu￿ that the Council is ¢ompli&nt with Social Housing Charter whi¢h will b￿0m¢ law in the n¢8r future. The legislation requires s(Ki81 housing providers to consult their tenants on a wide range of issues ensuring their views are taken on in d¢veloping and improvin8 S¢TVi¢¢S. c) Delivering Digi-comm and developmeni of a Succe&qion Stsate8y The Digi-comm project is funded until May 2023. In addition to delivering the outcomes outlined in year 3 of the bid the Partnership have agreed to continue to work together beyond the current funding commitment. We have already developed a sU￿e$S1on strategy and will be seeking to identify a suitable funding source to continue to develop digital support services for the community. d) tkliv¢ry of H&teley Cross Bi8 L(Kal Prowme We will continue to support the Hatel¢y Cross Bi8 tAxal Parthership to deliver its ¢ommunity plan. We will work with them to consid¢r th¢ results of the Young Voices and th¢ Employment and Training progrdmme with a view to developing projects to support key issues identified. We will support the group to develop and deliver significant projects to enhance several green spaces across the area to encournge better community use. Page 7 SANDWELL COM￿uNITy INFORMATION AI¥D PARTICIPATION SERVICE LIMrrED COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT (rn•41 YEAR ENDED 31 MARCH 2022 INDEPEIYDENT EXAMINER Mr J S Pye FCCA has been TL¥apwinted &$ tndep¢ndent examiner for the ensuing year. SMALL COMPAIYY PROVISIONS This report has been prepared in accordance with th¢ provisions applicable to companies entitled to the small companies. exemption. Registered office: Signed by order of the Directors and Trustees 2nd Floor The National M¢talfom)ing Centre 47 Birniingham W we￿ Bromwich West Midlands B70 6PY Ms J Macmillan Company &¢r¢lary 13 July 2022 Page 8 SANDWELL COMMUNITY tNFORMATtON AND PARTICIPATION SERVICE LIMrrED COMPANY LIMtTED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF SANDWELL COMlkWNITY INFORMATION AND PARTICIPATION SERVICE LIMITED YEAR ENDED 31 MARCH 2022 I rew)rt on the a￿OUnts of the company for the y¢ar ended 31 March 2022 which are set out on pa8¢S Ioto 19. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AIYD EXAMINER The trnstees (who are also the dire¢loTS of Sandwell Community Inforniation and Participation Service Limited for the purposes of company law) are responsible for the preparntion of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 A¢t) and that an independent examination is needed. Having satisfied myself that the company is not subject to audit under company law and is eligible for independent examination. it is my resp)nsibility to: examine the accounts under section 145 of the 2011 Art. to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5Xb) of the 201 l A¢t- and to state whether particular matters have com¢ to my attention. BASIS OF INDEPENDEiYf EXAMINER'S REPORT My examination was carried out in accordance with the general Directions given by the Charity Commission. An examinaiion includes a review of the accounting rwords kept by the company and a ¢omp8rison of the accounts presented with those records. It also includ¢s wnsideralion of any unusual items or disclosures in the accounts and s¢¢king explanations from you as trust¢es concerning any such matters. The procedures undertaken do nol provide all the evidence that would be trquired in an audit and consequently no opinion is given to whether th¢ accounts present a'true and fair view. and the report is limiled to those mattets set out in th¢ statement below. Page 9 SANDWELL COMMUNITY INFORMATION AJYD PARTICIPATION sER￿CE LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF SANDWELL COMMUNITY INFORMATION AND PARTICIPATION SERVICE LIMITED (¢• YEAR ENDED 31 MARCH 2022 INDEPENDENf EXAMtNER'S STATEMEKr Since the company's gross income exce¢d¢d £250.OiKI your examiner must be a member of a iX￿Y listed in section 145 of the 2011 Act. I COnf￿M that J am qualified to undertake the examination because l am a member of th¢ A$s￿latIOn of Chartered Certified Accountsnts which is one of th¢ list¢d bodies. I have completed my exanLination and I confirm that no matter h&g come lo my attention: ( l) which gives me reasonable cause to believe that in any mateTial respeth the requirements.. lo keep accounting records in ￿0[dance with se¢tion 386 of th¢ Companies Act 2006. and lo prepare accounts which accord with the accounting re¢ords. comply with the accounting requirements of section 396 of the Companies 21x16 and with the methods and prin¢ipl¢s of the Statement of ii¢commended Practice: Accounting Rew)rting by Charities have not been met. or (2) to which, in my opinion. attention should iK drawn in order to enabl¢ a proper understanding of the accounts to be reached. Mr J S Pye FCCA Independent examifter 23 Carline Crescent Shrewsbury Shropshire SY3 7EU 13 July 2022 Page 10 SANDWELL COKMUNrfY INFORMATION AI PARTICIPATION SERVICE LIMrfED COMPANY LIMrrED BY GUARANfEE STATEMENT OF FINANCLIL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2022 Restricted r•Dds Totsl fund 2022 Total funds 2021 runds Note INCOMING RESOURCES Incoming resources from generating funds.. Investhieni income Incoming resources from charitabl¢ a¢¢ivitie5 - grants receivable Other incoming resources 22 22 45 150,0 206396 356,896 16 334,978 53 16 TOTAL INCOMING RESOURCES J50,038 206896 356,934 335.076 RESOURCES EXPENDED Charitable activities Governance costs (104,919) (43828) (274,1NJ6) (378,925) (43,428) (265.132) (38.172) TOTAL RESOURCES EXPENDED (148J47) {274.IN)6) (422J53) (303,304) NET INCOMINGI(OUTGOING) RESOURCES FOR THE YEAIUNET INCOMEI(EXPENDITURE) FOR THE YEAR Jffj91 (67.] 10) (65,419) 31.772 RECONCILIATION OF FUNDS Total funds brought ftsnvard 116,184 91.403 207J87 175,815 TOTAL FUNDS CARRIED FORWARD 117075 24293 142,168 207,587 The Statement of Financial Activities includes all gains and losse5 in the year and th¢r¢for¢ statement of total recognised gains and losses h&5 not been prepared. All of the above amounts relaie to continuing activities. The notes on pages 13 to 19 form part ofthese financial stalements. Page 11 SANDWELL COMMUNITY INFORMATION AND PARTICIPATION SERVICE LIMrrED COMPANY LIMITED BY GUARAIYTEE BALANCE SHEET 31 MARCH 2022 2022 2021 Nole FIXED ASSETS Tangible assets {929 8.040 CURRENT ASSETS Debtors Cash at bank and in hand io 22J69 149513 7.825 198.549 172,082 (34,843) 206.374 (6.827) CRED￿ORS. amounts falllng d￿* Tvithin one year li NET CURRENf ASSETS 137239 199.547 TOTAL ASSETS LESS CURRE￿ LIABILITIES 142.168 207.587 NET ASSETS 142,168 207.587 Restricted income funds Unrestricted income fund$ 12 13 24293 117*75 91.403 116.184 TOTAL FUNDS 142,168 207.587 For the year ended 31 March 2022 the company was entitled to exelnption from audit under section 477 of the Companies Act 2006 r¢lating to small companies. Directors and trustees, re4)onsibiliIi￿. the members have not requir¢d the company to obtain an audit of its accounts for the year in question in accordance with sedion 476: and the Directors and Trustees acknowledge their responsibilities for complying with the T¢quir¢ments of the Act with respect to a￿OUnting rewrds and the preparation of accounts. The balance sheet continues on the following page. The notes on pages 13 to 19 forn ofthese financial Jtstement Page 12 SANDWELL COMMUNITY INFORMATION AND PARTICIPATION SERVICE LIMITED COMPANY LIMfTED BY GUARANTEE BALANCE SHEET(eth*thMcdJ 31 MARCH 2022 These accounts have been prepared ID a¢wrdanc¢ with the provTrsions applicable to wmpani¢s subject to the small companies. regime and wtth the FRS 102 Se¢tion IA- Small Entitie5. These financial statements were approved by the Direc￿rS and Trustees and authorised for issue on the 13 July 2022 and are signed on their behalf by: Mrs A M Docker Dire¢lor Company Registration Number: 03071683 The notes on ￿ge¥ 13 to 19 forni part of Ibese flnancial statement& Page 13 SANDWELL COMMUNITY INFORMATION AND PARTICIPATION SERVICE LIMrrED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMEiYrs YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES Bg8is of aeeountiDg The financial statements have been prepared in a¢¢ordanc¢ with the Charities SORP 'Accountin8 and R¢w)rting by Charities: Ststernent of Recommended Prnctice applicable to charities pr¢paring their accounts in accordance with FRS 102 Section IA Svnall Entities., Companies Aci 2006 and the Charitie5 Act 2011. C*sh flow stat¢m¢nt The trustees have taken advantage of the exemption in Financial Re￿)rtIng Standard No I (r¢vis¢d) from including a cash flow statem¢nl in the flnancial statements on the grounds that the company is small. Company ststu8 The charity is a company limited by guarantee. The members of the company *are the trust¢¢5 named on the members of the board page. In the event of the charity being wound up the liability in r¢spe¢t of the guarantee is limited to £1 per member of the charity. Fund g¢¢ouDting Genernl funds ar¢ unrestrithed fiu)ds which 8re available for use at the discretion of the trusiees in furtherdncz of th¢ genernl objectives of the ¢h8rity and which have not been deslgnated for other purposes. Designated funds comprisc of unTestricted fvnds that have b¢en set aside by the trustees for particular purposes. Restricled funds are funds which are to be used in accordance with specific restrictions impos¢d by donors or which have been rni5ed by the ¢h8rtty for particular purposes. Th¢ cos¢ of r4i5ing and administering such funds are chargd 48ainst the specif]c fund. The aim and use of each fund is sel out in thc notu to the financial slalements. lllcomillg rejources All incoming resources are included in the statemertt of financial activities when the charity is entitled to the incom¢ 8nd the amount can be quarttifi￿ with reasonable accurncy. The following specific tM)licies are applied to particular categ()ri¢s of inwme: Volun¢ary income is received by way of grant& donations and gifts and is in¢lud¢d in full in th¢ statement of financial activities when receivabl¢. Granty where entitlement is not conditional i)n the delivery of specific 1￿MilnCe by the charity. are recogniwj wheT] the charity be¢omes.'. Page 14 SANDWELL COMMUNITY INFORMATION AJND PARTICIPATION SERVICE LIMrrED COMPANY LIMfTED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 ACCOUY4TtNG POLICIES Unconditionally entitled to the grant. Grants, V4here related perforniÈn¢e and specifi delivernble4 are accounted for the charity eams the right to con5iderdtion by perfonnance, Donated services and facilities are Includ￿ at the value to the charity wher¢ this con be quantifie Investment income is includ¢d wher¢ receivable. Resourees expended Resources expended are r¢co8nis¢d in the peri(Ml in which they are incurrryl. Resources expended include attributsble VAT which winot be rewvered. Costs of generating funds comprise th¢ Costs associattyj with attracting volunlary income and the cost of trading for fundrdising purp05¢S. Charitable expenditure cOMpri￿S those co￿$ incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes Erf)th Costs thal can be allo&8ted directly to such activities and those Costs of an Indi￿¢1 nature necessary to support them. Govemance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include a￿OUn￿ncY fees and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the ststemenl of financial activities on the basis designed lo reflect the use of the resource. Costs relatin8 to a particular activity are allocated directly, others are apportioned on an appropriate basis. Fixed as3ets All fixed assets are initially r￿orded at cost. Depreclatlon Depreciation is calculated so as to WTit¢ off the cost of an asseL less its estimated ￿sIdual value. over the useful economic life of that &sset as follows: Fixtures and equipment. 151330/0 on a strai8ht-line basis Page 15 SANDWELL COMMUNITY INFORMATION AJYD PARTICIPATION SERVICE LIMfrED COMPANY LI￿[￿rED BY GUARANfEE NOTES TO THE FINANCIAL STATEMENrs YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES Operntlrtg l**se agreements Rentals applicable to operating leases where substantially all of the irnefits and risks of ownership remain with the lessor are charged against proflts on a strnight-line basis over the period of the lease. INVESTMEiwf INCOME UDrestri¢ted Totsl funds Totsl funds 2022 2021 Investment incom¢ 22 22 45 INCOMING RESOURCES FROM CHARrrABLE ACnVITIES. GRANrs RECEIVABLE Uttrutri¢ted Restrirted Totsl funds Totsl fvnds funds 2022 2021 SMBC Core Grdnt Big Local Trust- Hatel¢y Cross Grant Reaching Communitie5- Digi