REGISTERED COMPANY NUMBER: 4754607 (England and Wales) REGISTERED CHARITY NUMBER: 1100266
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
BROCKWORTH LINK
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Andorran Limited 6 Manor Park Business Centre Mackenzie Way Cheltenham Gloucestershire GL51 9TX
BROCKWORTH LINK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report ofthe Trustees | 2 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activitles | 7 | ||
| Statement of Financlal Position | 8 | ||
| NotestotheFinancialStatements | 9 | to | 16 |
BROCKWORTH LINK
.
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022
TRUSTEES Ms N J Walsh Chair Mr M P Nadin Vice-Chair Mr A Chakravarty (resigned 5.5.21) Mrs G Comley (resigned 19.8.21) Mrs V Rock Mr M J Dickson (resigned 26.6.21) Mr M S Couzens Mr A Casey Mrs H R Prosser (appointed 19.8.21) Miss M Constantinescu (appointed 14.10.21)
COMPANY SECRETARY
Mr M P Nadin
REGISTERED OFFICE Brockworth Library Moorfield Road Brockworth Gloucester Gloucestershire GL3 4EX
REGISTERED COMPANY 4754607 (England and Wales) NUMBER REGISTERED CHARITY 1100266 NUMBER
INDEPENDENT EXAMINER Andorran Limited 6 Manor Park Business Centre Mackenzie Way Cheltenham Gloucestershire GL51 9TX
Page 1
BROCKWORTH LINK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
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 31 March 2022. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives for which Brockworth Link is established were updated in the change to the Articles of Association that was passed in August 2021. The charity is established to significantly contribute to the social and economic development of Brockworth by providing a community-based library and education centre, advice and support services for disadvantaged members of the community and a positive meeting place and support centre for young people. Its objectives are:
-
the relief of people in need, hardship and distress;
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- the advancement of education amongst persons resident within the area of benefit; - the provision of services and activities for the personal, social, educational and economic benefit of residents;
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- the advancement of such other charitable purposes in the interests of Social Welfare as are beneficial to the community within the benefit area.
The benefit area is primarily the civil parish of Brockworth, the wider county of Gloucestershire and surrounding areas.
Public benefit
In planning Brockworth Link's activities for the year the trustees kept in mind the Charity Commission's guidance on public benefit. The focus of the charity's activities during the year, which explains the delivery by the charity of public benefit, is set out below under ‘Achievement and performance’ and above under ‘Objectives and activities’.
.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During this report year, the trustees spent a lot of time deciding on how we could prepare to accommodate customers from new housing developments in the area. The trustees decided that the current library facilities could not cater for a large influx of customers in either space, books or facilities. It was therefore decided that the charity would invest a considerable amount of S106 monies into addressing this major issue.
A lot of work was done preparing for our refurbishment project, looking at plans, working with architects, designers and also making arrangements for storage of books, furniture and office equipment.
We also made arrangements to open a limited library in Brockworth Community Centre and were able to use a room to operate a small office. We are extremely grateful to the Parish Council for helping us to achieve this aim. We are also grateful to St George's Church for allowing us to put a skip in their car park for building debris.
The refurbishment was completed within the estimated time with a minimum of disruption. We are extremely happy with the service we received from all the companies we dealt with.
As a result of our successful refurbishment, we have been rewarded with an increase in customer footfall and many positive comments about the library environment and facilities.
The trustees feel that their decision to spend s106 funds on this upgrade has been completely justified.
Page 2
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BROCKWORTH LINK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
2021-2022 has continued to be challenging for Brockworth Link. For the first few months, the normality of regular opening was still not possible. The library fully reopened in September 2021. Throughout these turbulent months, we have tried to continue to play a role in the community of Brockworth whilst maintaining a position of financial stability under difficult circumstances,
It has become increasingly obvious that the global pandemic would have a considerable and long-term effect on our charity. We endeavoured to maintain our position of forward-looking progress, and where possible, moved into areas of improvement.
Whilst we maintained our financial stability, we took the opportunity to provide continuing, if limited services to our customers, support our work staff, sustain our charity and looked forward to a future achievement.
Our 4 core staff - Monica Constantinescu, our General Manager, Anne Fuller, our Library Manager, Becki Babbage and Debbie Harwood, our Youth Admin and Youth Lead - are responsible for the day to day administration and running of the charity.
There are a number of highlights worth mentioning:
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the successful language courses that we offer were adjusted to suit the circumstances and Italian classes continued online;
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the IT class continued online, with great enthusiasm from the members of that group;
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- we continued detached youth sessions for the young people in Brockworth followed by fully reopening the youth club premises in September 2021;
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- we have received funding from Brockworth Parish Council, Tewkesbury Borough Council, Gloucestershire County Council and more.
FINANCIAL REVIEW
Investment policy and objectives
Due to the relatively low level of funds available for investment, the trustees consider that bank deposits provide a satisfactory return to the charity. There were no surplus funds available during the year.
Reserves policy
The Management Committee has examined the charity's requirements for reserves, in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be 6 months of the expenditure. Budgeted revenue expenditure for 2022-2023 is in the order of £90,000. We estimate that we will receive grants, fees and charges and other sources of income to meet this.
In addition, we will receive Section 106 income from Tewkesbury Council in respect of the Perrybrook development.
The present level of unrestricted reserves available to the charity is £59,038. The Management Committee will continue to keep the budget under review throughout the year.
FUTURE PLANS
Brockworth Link trustees continued to work from the agreed 3-year business which was updated pre-COVID. We are constantly working to make that plana reality.
Significant housing development in Brockworth will bring both challenges and opportunities in the coming years.
Securing long-term revenue funding remains a priority.
As ever, we face the future with confidence and ambition.
Page 3
BROCKWORTH LINK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is constituted as a company limited by guarantee and therefore has no share capital. In the event of the company being wound up and the liabilities and winding up expenses being in excess of assets, the liability of each member is limited to £1. The Project's governing document is its Memorandum and Articles of Association dated 19 May 2003 and updated August 2021.
Recruitment and appointment of new trustees
Details of officers and advisers are given on page 1 of this report. The power to appoint new trustees is vested in existing trustees.
Changes in trustees
Mrs G Comley resigned as a trustee in the year.
Mrs H R Prosser was appointed as a trustee in August 2021.
Miss M Constantinescu was appointed as a trustee in October 2021.
Organisational structure
In accordance with the Articles of Association, Brockworth Link is directed by an Executive Committee comprising a Chair, Vice Chair, Treasurer, Secretary, and such other Honorary Officers as the charity shall decide. The Executive Committee meets monthly. Risk management a The trustees actively review the major risks which the charity faces on a regular basis and carry out reviews of the controls over key financial systems. The trustees have also considered other financial, operational and business risks faced by the charity, especially the raising of relevant funding and the maintenance of adequate reserves, and confirm that systems have been established to mitigate, as far as possible, any significant risks.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees (who are also the directors of Brockworth Link for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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- observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 4
BROCKWORTH LINK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 23 August 2022 and signed on its behalf by:
Ms N J Walsh - Trustee
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BROCKWORTH LINK
;
Independent examiner's report to the trustees of Brockworth Link (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
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, | 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 | 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. | can confirm that | am qualified to undertake the examination because | am a registered member of ICAEW which is one of the listed bodies.
| have completed my examination. | 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 the Company as required by section 386 of the 2006 Act; or
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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
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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)).
| 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,
Qo *
Roger Downes FCA ICAEW
Andorran Limited
6 Manor Park Business Centre Mackenzie Way Cheltenham Gloucestershire GL51 9TX
23 August 2022
Page 6
BROCKWORTH LINK
:
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| 31.3.22 | 31.3.21 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Totat | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 2 | 15,550 | - | 15,550 | 43,739 |
| Charitable activitles | 4 | ||||
| Charitable | 403 | 237,895 | 238,298 | 97,400 | |
| Othertrading activities | 3 | 7,370 | - | 7,370 | 3,824 |
| Total | 23,323 | 237,895 | 261,218 | 144,963 | |
| EXPENDITURE ON | |||||
| Raising funds | 5 | 2,921 | - | 2,921 | 2,823 |
| Charitable activities | 6 | ||||
| Charitable | 49,188 | 51,400 | 100,588 | 70,885 | |
| Total | 52,109 | 51,400 | 103,509 | 73,708 | |
| NET INCOME/(EXPENDITURE) | (28,786) | 186,495 | 157,709 | 71,255 | |
| Transfers between funds | 17 | (28,295) | 28,295 | - | - |
| Netmovement in funds | (57,081) | 214,790 | 157,709 | 71,255 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 116,119 | 42,061 | 158,180 | 86,925 | |
| TOTALFUNDSCARRIEDFORWARD | 59,038 | 256,851 | 315,889 | 158,180 |
The notes form part of these financial statements
Page 7
BROCKWORTH LINK
STATEMENT OF FINANCIAL POSITION
31 MARCH 2022
| 31.3.22 | 31,3.21 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| FIXED ASSETS | Notes | £ | £ | Ee | E |
| Tangible assets | 13 | 22,465 | 188,864 | 211,329 | 37,558 |
| CURRENT ASSETS | |||||
| Debtors | 14 | 341 | - | 341 | 12,658 |
| Cash at bank and in hand | 38,767 | 67,987 | 106,754 | 109,536 | |
| 39,108 | 67,987 | 107,095 | 122,194 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 15 | (2,535) | - | (2,535) | (1,572) |
| NET CURRENTASSETS | 36,573 | 67,987 | 104,560 | 120,622 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 59,038 | 256,851 | 315,889 | 158,180 | |
| NET ASSETS | 59,038 | 256,851 | 315,889 | 158,180 | |
| FUNDS | aHf | ||||
| Unrestricted funds | 59,038 | 116,119 | |||
| Restricted funds | 256,851 | 42,061 | |||
| TOTALFUNDS | 315,889 | 158,180 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
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The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 August 2022 and were signed on its behalf by:
Ms N J Walsh - Trustee
The notes form part of these financial statements
Page 8
- ACCOUNTING POLICIES
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BROCKWORTH LINK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
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.
The charity relies on external funding to meet its day-to-day cash requirements and to fund its charitable activities. Whilst levels of available funding have been decreasing in recent years, the trustees are confident that their efforts to secure new funding sources are being rewarded, with several new income streams in place for the next couple of years
The trustees have considered the cash flow needs of the charity for a period of more than twelve months from the date of approval of these financial statements and conclude that, despite the uncertainties that exist, particularly with regard to the effects of the current coronavirus pandemic, the charity should be able to generate sufficient funding going forward in order to enable it to provide planned services for the foreseeable future. Consequently the trustees consider it appropriate to prepare these financial statements on the basis that the charity is a going concern.
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. Tanglble fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property Computer equipment
- 10% on cost - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities. It is not, however, exempt from VAT, and irrecoverable VAT is included in the cost of those items to which it relates.
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.
Page 9
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BROCKWORTH LINK
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
| 2. | DONATIONSAND LEGACIES | DONATIONSAND LEGACIES | ||
|---|---|---|---|---|
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Covid 19 Support Grants | 14,000 | 43,550 | ||
| Donations | 1,550 | 189 | ||
| 15,550 | 43,739 | |||
| 3. | OTHER TRADING ACTIVITIES | |||
| 313.22 | 31.3.21 | |||
| £ | £ | |||
| Course fees | 1,582 | 745 | ||
| Other income | 5,788 | 3,079 | ||
| 7,370 | 3,824 | |||
| 4, | INCOME FROM CHARITABLE ACTIVITIES | |||
| 31.3.22 | 31.3.21 | |||
| Grants | Activity Char able |
£ 238,298 |
£ 97,400 |
|
| Grants received, included in the above, are as follows: | ||||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Tewkesbury Borough Council | 129,449 | 58,132 | ||
| Enovert CommunityTrust | 39,654 | - | ||
| Gloucestershire County Council | 28,961 | 12,500 | ||
| Severn TrentWater | 16,864 | - | ||
| Brockworth Parish Council | 14,303 | 12,973 | ||
| Awards For All | 6,864 | - | ||
| Armmold Clark | 1,000 | - | ||
| Renishaw | 500 | - | ||
| Rotary Trust | 300 | - | ||
| Big Lottery Fund | - | 9,999 | ||
| Active Glos | - | 988 | ||
| Police and Crime Commission | - | 750 | ||
| Coronavirus Job Retention Scheme grant | 403 | 2,058 | ||
| 238,298 | 97,400 |
Page 10
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BROCKWORTH LINK
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 5. | RAISING FUNDS | |||
|---|---|---|---|---|
| OthertradIng activities | ||||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Purchases | 2,921 | 2,823 | ||
| 6. | CHARITABLE ACTIVITIES COSTS | |||
| Direct | Support | |||
| Costs (see | costs (see | |||
| note 7) | note 8) | Totals | ||
| £ | £ | £ | ||
| Charitable | 99,158 | 1,430 | 100,588 | |
| 7. | DIRECT COSTS OF CHARITABLE ACTIVITIES | |||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Staff costs | 50,613 | 42,416 | ||
| Rent, rates and utilities | 5,336 | 3,268 | ||
| Insurance | 1,021 | 1,346 | ||
| Telephone | 2,364 | 2,184 | ||
| Stationery, postage & supplies | 517 | 180 | ||
| Sundries | 2,011 | 2,834 | ||
| Contracted services | 4,707 | 2,464 | ||
| Maintenance & repairs | 1,312 | 5,012 | ||
| Bank charges | 183 | 186 | ||
| Equipment purchase & hire | 675 | 306 | ||
| IT & website | 185 | 95 | ||
| Youth activities | 2,183 | 81 | ||
| Depreciation | 28,051 | 9,093 | ||
| 99,158 | 69,465 | |||
| 8. | SUPPORT COSTS | |||
| Governance | ||||
| costs | ||||
| £ | ||||
| Charitable | 1,430 | |||
| 9. | NET INCOME/(EXPENDITURE) | |||
| Therearenoexceptionalitemstoreport. |
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BROCKWORTH LINK
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
10. TRUSTEES’ REMUNERATION AND BENEFITS
During the year one of the trustees received remuneration of £13,412.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
- STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.3.22 | 31.3.24 | |||
|---|---|---|---|---|
| Administration staff | 8 | 8 | ||
| No employees received emoluments in excess of £60,000. | ||||
| 12. | COMPARATIVES FORTHE STATEMENT OF FINANCIAL | ACTIVITIES | ||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 43,739 | - | 43,739 | |
| Charitable activities | ||||
| Charitable | 39,873 | 57,527 | 97,400 | |
| Other trading activities | 3,824 | - | 3,824 | |
| Total | 87,436 | 57,527 | 144,963 | |
| EXPENDITURE ON | ||||
| Raising funds | 2,823 | - | 2,823 | |
| Charitable actlvitles | ||||
| Charitable | 17,057 | 53,828 | 70,885 | |
| Total | 19,880 | 53,828 | 73,708 | |
| NET INCOME | 67,556 | 3,699 | 71,255 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds broughtforward | 48,563 | 38,362 | 86,925 | |
| TOTALFUNDSCARRIEDFORWARD | 116,119 | 42,061 | 158,180 |
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BROCKWORTH LINK
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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022
13. TANGIBLE FIXED ASSETS
| 13. | TANGIBLE FIXED ASSETSASSETS | |||
|---|---|---|---|---|
| Improvements | ||||
| to | Computer | |||
| property | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2021 Additions |
54,293 176,211 |
38,438 - |
92,731 176,211 |
|
| At 31 March 2022 | 230,504 | 38,438 | 268,942 | |
| DEPRECIATION | ||||
| At1 April 2021 | 24,051 | 31,122 | 55,173 | |
| Charge for year | - | 2,440 | 2,440 | |
| At 31 March 2022 | 24,051 | 33,562 | 57,613 | |
| NET BOOK VALUE | ||||
| At 31 March 2022 | 206,453 | 4,876 | 211,329 | |
| At 31 March 2021 | 30,242 | 7,316 | 37,558 | |
| 14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Trade debtors | - | 1,133 | ||
| Prepayments | 341 | 11,525 | ||
| 341 | 12,658 | |||
| 15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Trade creditors | 317 | 36 | ||
| Social security and other taxes | 933 | 339 | ||
| Other creditors | 235 | 177 | ||
| Accrued expenses | 1,050 | 1,020 | ||
| 2,535 | 1,572 |
- SECURED DEBTS
Tewkesbury Borough Council has a legal charge over the leasehold property that the charity occupies for its activities.
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BROCKWORTH LINK
- MOVEMENT IN FUNDS
.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| MOVEMENT IN FUNDS | |||||
|---|---|---|---|---|---|
| Net | Transfers | ||||
| movement | between | At | |||
| At 1.4.21 | in funds | funds | 31.3.22 | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General fund | 116,119 | (28,786) | (28,295) | 59,038 | |
| Restricted funds | |||||
| Youth Services | 2,462 | 4,402 | - | 6,864 | |
| Capital Equipment | 37,548 | 143,933 | 28,295 | 209,776 | |
| Library Services | 2,051 | 36,910 | - | 38,961 | |
| IT Classes | - | 1,250 | - | 1,250 | |
| 42,061 | 186,495 | 28,295 | 256,851 | ||
| TOTAL FUNDS | 158,180 | 157,709 | - | 315,889 | |
| Net movement in funds, included in the above are as | follows: | ||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 23,323 | (52,109) | (28,786) | ||
| Restricted funds | |||||
| Youth Services | 19,167 | (14,765) | 4,402 | ||
| Capital Equipment | 165,967 | (22,034) | 143,933 | ||
| Library Services | 51,261 | (14,351) | 36,910 | ||
| IT Classes | 1,500 | (250) | 1,250 | ||
| 237,895 | (51,400) | 186,495 | |||
| TOTAL FUNDS | 261,218 | (103,509) | 157,709 | ||
| Comparatives for movement in funds | |||||
| Net | |||||
| movement | At | ||||
| At 1.4.20 | in funds | 31.3.21 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 48 563 | 67,556 | 116,119 | ||
| Restricted funds | |||||
| Youth Services | 4,915 | (2,453) | 2,462 | ||
| Capital Equipment | 15,867 | 21,681 | 37,548 | ||
| Library Services | 15,300 | (13,249) | 2,051 | ||
| IT Classes | 2,280 | (2,280) | - | ||
| 38,362 | 3,699 | 42,061 | |||
| TOTALFUNDS | 86,925 | 71,255 | 158,180 |
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BROCKWORTH LINK
- MOVEMENT IN FUNDS- continued
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| Unrestricted funds | £ | gE | £ |
| General fund | 87,436 | (19,880) | 67,556 |
| Restricted funds | |||
| Youth Services | 8,711 | (11,164) | (2,453) |
| Capital Equipment | 29,316 | (7,635) | 21,681 |
| Library Services ITClasses |
19,500 - |
(32,749) (2,280) |
(13,249) (2,280) |
| 57,527 | (53,828) | 3,699 | |
| TOTAL FUNDS | 144,963 | (73,708) | 71,255 |
| DetailsofRestrictedFunds |
Youth Services - Funding for staff costs and expenses for Brockworth Youth Club (known as B-Epic and run under the umbrella of Brockworth Link), other youth activities and offsite events.
Capital Equipment - Funding for library improvements and IT equipment. Assets purchased with this funding are either capitalised as fixed assets and the subsequent depreciation charged against this fund or charged direct against the fund where the expenditure is not capitalised.
Library Services - Funding for operational costs to provide local community library services, including an IT suite for public use, and for extended library opening hours.
IT Classes - Funding to provide IT classes for the residents of Brockworth within the charity's premises.
Transfers between funds
Transfers are made between restricted and unrestricted funds at the end of every accounting period in cases where:-
i) the activity of the restricted fund has come to an end and there is an unspent balance that is not repayable to the funder(s), when the surplus is transferred to unrestricted funds; and
ii) the restricted fund is in deficit and has either come to an end or there is no prospect of a surplus in a later period, when the deficit is eliminated by transfer from unrestricted funds.
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continued...
BROCKWORTH LINK
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022
18. CONTINGENT LIABILITIES
Various funders retain the right to claw back grants should the use of the funds not be in accordance with the terms of the grant. In the opinion of the trustees no such liability exists at the year-end.
| 19. | CAPITAL COMMITMENTS | ||
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Contracted but not provided for in the financial statements | - | 166,006 | |
| 20. | RELATEDPARTYDISCLOSURES |
There were no related party transactions for the year ended 31 March 2022.
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