Charity Registration No. 1100911
Company Registration No. 04740185 (England and Wales)
JOHN POUNDS COMMUNITY TRUST LIMITED
(LIMITED BY GUARANTEE)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | A Barrett | |
|---|---|---|
| D W Glavin | ||
| P C Goodship (Chair) | ||
| B Lloyd Payne | ||
| B Miller | ||
| A C North | ||
| G E Perryman | ||
| B G Tregarthen | (Appointed 1 January | |
| 2021) | ||
| Secretary | P C Goodship | |
| Charity number | 1100911 | |
| Company number | 04740185 | |
| Principal address | The John Pounds Centre | |
| 23 Queen Street | ||
| Portsea | ||
| Portsmouth | ||
| Hants | ||
| PO1 3HN | ||
| Registered office | The John Pounds Centre | |
| 23 Queen Street | ||
| Portsea | ||
| Portsmouth | ||
| Hants | ||
| PO1 3HN | ||
| Auditor | Jones Avens Limited | |
| 53 Kent Road | ||
| Southsea | ||
| Portsmouth | ||
| Hampshire | ||
| PO5 3HU | ||
| Bankers | CAF Bank Limited | |
| 25 Kings Hill Avenue | ||
| Kings Hill | ||
| West Malling | ||
| Kent | ||
| ME19 4JQ | ||
| Solicitors | Blake Morgan LLP | |
| Harbour Court | ||
| Compass Road | ||
| North Harbour | ||
| Portsmouth | ||
| Hampshire | ||
| PO6 4ST |
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 5 |
| Statement of trustees responsibilities | 6 |
| Independent auditor's report | 7 - 10 |
| Statement of financial activities | 11 |
| Balance sheet | 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14 - 31 |
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their annual report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Memorandum and Articles of Association , the Companies Act 2006 and "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
Charitable objectives
The Trust's objects are:
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To advance education and to provide facilities for social, recreational and creative leisure time opportunities for the people of Portsmouth, particularly in the area known as Portsea, in co-operation with the residents of the area, the local authority and voluntary and other organisations with the object of improving their conditions of life; and
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To establish, maintain and manage the John Pounds Centre in liaison with other voluntary and statutory bodies and to promote community involvement in such management.
There has been no change in these during the year.
Aims of the Trust
The T rust shall contribute to the on-going regeneration of Portsea and the surrounding area by improving the economic and social well-being of the community.
The Trust achieves this by provid ing a range of services, activities, information and advice to individuals and local businesses particularly social enterprises and sole traders through the provision of the community centre, ensuring there is a safe and relaxing environment for all who attend . The overall objective shall be to promote:
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Self esteem;
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Health and Well-being, Sport and Fitness through the provision of sporting facilities;
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Entrepreneurship and the creation of local businesses supported by affordable serviced Office space;
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Lifelong learning, training and personal development;
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Arts and culture; and
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Community services directly and through the Trust's Partners.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Achievements and performance
Following Government guidance the Trust had no alternative but to close the John Pounds Centre and suspend all its community services for most of the year. This presented many challenges both operational and financial.
Most staff were furloughed in accordance with the Government's scheme and the Trust were able to top up salaries so that the small team, whose salaries are comparably modest, did not suffer financially. The Centre director, Matt Mason, ensured that all furloughed staff were supported during the long periods of lockdown, maintaining a high level of staff morale.
The Trust took full advantage of the various Government initiatives to assist charities in the community sector and successfully secured a range of grants to offset the dramatic loss of income from the services the Trust traditionally provided to the local community.
While it was not possible for the Trust to provide its normal range of services it found creative ways to continue some services during the lockdown period. This included the "Getting Back to Health" project and the "Food Cycle" programme, details of which are set out below.
The Trust also explored ways it could exploit its community status and make a more direct contribution to the national effort to deal with the COVID crisis. This led to discussions with the NHS Portsmouth Hospitals University Trust about the feasibility of establishing at the John Pounds Centre a Vaccine Research Hub recruiting volunteers to participate in new trial vaccines and undertaking other research to learn more about different vaccines and their impact.
These discussions proved successful and much work was undertaken to enable the new research Hub to be established at John Pounds in March 2021.
The Trust was also able to continue work on Phase 2 of the Treadgolds Warehouse project. This project has created a large atrium space in the main building providing increased work space and compliment / extend the services provided by the John Pounds Centre.
This large, stand-alone space has proved attractive as organisations looked to return to delivering activity under social distancing guidelines. Local organisations such as Portsmouth College and Christ Central Church have been keen to utilise this new and larger space.
Building on the success of this phase of development at the Treadgolds Warehouse the Trust is now working on plans for Phase 3 with a view to submitting a bid to the National Lottery in 2022.
- Healthy Living Scheme Getting Back to Health
Funding from the National Lottery’s Coronavirus Community Support Fund, allowed John Pounds Community Trust to focus on the health of our community over the lockdown period. The ‘Getting Back to Health’ project supported, online consultations delivered by our practitioners and the development of online exercise and health content for our most vulnerable clients.
In addition, the project provided a weekly online fitness class programme, streamed live on social media and our practitioners offered bespoke advice and guidance for those suffering with isolation, depression and Covid and post Covid symptoms.
FoodCycle
FoodCycle made collections to support the local foodbank and was able to offer use of the FoodCycle van to make collections and drop offs of donated foods and goods.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Financial review
The Trust reported a net surplus for the year of £ 146,763 comprising a surplus on unrestricted funds of £ 6,000 , a surplus on designated funds of £98,867 , and a surplus on restricted funds of £ 41,896 . This compares with a surplus of £ 67,661 on total funds for the year ended 31 March 20 20 .
At 31 March 20 21 fund balances carried forward comprised general unrestricted funds in surplus of £ 6,505 , designated funds in surplus of £ 295,244 and restricted funds in surplus of £ 475,201 .
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has not been maintained throughout the year. In the short term the trustees would be able to access the Designated Renewals fund and Designated COVID Recovery fund to the extent that it has been spent but this is far from ideal and the trustees will continue to seek to identify ways of improving reserves.
As mentioned earlier, income from the hire of centre facilities was significantly reduced from the previous year. This was due to the continued closure of the centre during periods of COVID-19 lockdowns. However, as previously stated the Trust has received various grant support to cover core costs from the local authority, Culture Recovery Fund for Heritage, Power to Change and central government through the payment of furlough claims. A further grant was received during the year from National Lottery Community Fund in support of the Getting Back to Health project to deliver health and wellbeing programmes over lockdown periods.
Risk factors
The trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Reserves are in place which could continue to cover the core expenditure, while new sources of funding are being sought to continue and grow existing projects.
Plans for future periods
The Trust is conscious of the need to regularly review the community services it provides to ensure that the specific needs of the community it serves are being met to the best of the Trust's ability.
This is an ongoing process but a comprehensive period of local consultation will be facilitated during 2022 to identify areas where the Trust can improve and enhance the community services it delivers exploring new partnerships were this is appropriate.
Climate Change
The Trust continues to explore ways in which it can minimise its carbon footprint and pursues a variety of measures to help meet Government targets. A particular success has been the installation in 2016 of 480 solar panels at the centre generating 120kW. Portsmouth City Council Property and Housing Services designed, installed and provide the on-going maintenance of the PV (Photovoltaic) system and sells the generated power to the Trust at a rate lower then grid-bought electrical power.
The Trust saves money on energy bills, reduces the amount of carbon emitted and are provided with information about the panels and their performance which can be used as an educational tool for the Centre's management team.
During this period the Trust made a carbon saving of over 30,000 kg CO2e/kWh.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Structure, governance and management
Governing Document
The Trust was incorporated on 22 April 2003 and is a private company limited by guarantee (Company number 4740185). The Trust is also a registered charity (Number 1100911). The Registered office and principal address of the charity is The John Pounds Centre, 23 Queen Street, Portsea, Portsmouth, Hampshire, PO1 3HN .
The Trust is governed by its Articles and Memorandum of Association which grant wide powers of investment to the Trustees.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
A Barrett
D W Glavin
P C Goodship (Chair)
B Lloyd Payne B Miller A C North G E Perryman B G Tregarthen (Appointed 1 January 2021)
Recruitment and Appointment of trustees
The Trust requires a minimum of 5 members who can be nominated by a number of prescribed local organisations. Ultimately the decision as to whether or not to appoint a new member rests with the Trustees. Trustees attend an annual Strategic Away Day which focus on the obligations of the trustee within the Charity sector. The Trustees also have access to induction training provided through an external training provider and continued online training through the Charity Commission website and solicitor newsletters.
Qualifying third party indemnity provisions
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trust maintains insurance policies on behalf of all the trustees against liability arising from negligence, breach of duty and breach of trust in relation to the Trust.
Safeguarding
The Trust is committed to ensuring robust safeguarding arrangements to protect all vulnerable people including children, young people and disadvantaged young adults, who use the centre, from harm. Staff (including volunteers and trustees) receive information regarding the Trust's Safeguarding Policy, ongoing training and checks for criminal records before they have unsupervised access to children or vulnerable people. Any Safeguarding or Child Protection incidents are reportable to the Centre Director who will take the necessary action as required. The following guidelines are followed to facilitate this Safeguarding Policy:
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Child protection & police checks procedure;
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Employment procedure (References and DBS checks);
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Portsmouth City Council's Code of Practice for Working with Children; and
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Hiring Procedure (inc. checking qualifications and CRB checks on groups hiring centre facilities).
-
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Organisational structure
The Trustees, who are also directors, delegate the day-to-day operation of the Centre to the Centre manager , Matt Mason, and his staff. Within the John Pounds Centre, the organisation is divided as follows :
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Operations team - three Centre supervisors responsible for cleaning staff and managing operational aspects of the building;
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Front of House and Events Manager - responsible for the receptionists, marketing and promotions of the Centre and its activities and coordinating major events;
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Finance Assistant;
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• Gym Instructors; and
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Coaches and Project workers.
The trust also sources regular external bookkeeping support.
These functions report directly to the Centre Manager .
Significant decisions require a report to be written by the Centre Manager and presented to the Board of Trustees for voting, before any action is taken. The approval of all contracts must be signed by the Chair and one other trustee.
Funds held as custodian trustee
During the year the Trust held money as agent for TopTots Nursery in order to help with the group banking facilities. The amount held is small, and within the Trusts main bank account, but are accounted for to the group separately.
Auditor
In accordance with the company's articles, a resolution proposing that Jones Avens Limited be reappointed as auditor of the company will be put at a General Meeting.
Disclosure of information to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
The trustees r eport was approved by the Board of Trustees.
P C Goodship (Chair) Trustee
7 December 2021
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2021
The trustees, who are also the directors of John Pounds Community Trust Limited for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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 trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these 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 Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF JOHN POUNDS COMMUNITY TRUST LIMITED
Opinion
We have audited the financial statements of John Pounds Community Trust Limited (the ‘trust’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice) .
In our opinion, the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2021 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 25 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the trust’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and , except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF JOHN POUNDS COMMUNITY TRUST LIMITED
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
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the information given in the trustees r eport, which includes the d irectors ' r eport prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the d irectors ' r eport included within the trustees r eport has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the trust and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors ' r eport included within the trustees r eport.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies ' exemptions in preparing the trustees r eport and from the requirement to prepare a s trategic r eport.
Responsibilities of trustees
As explained more fully in the s tatement of trustees r esponsibilities, the trustees, who are also the directors of the trust for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF JOHN POUNDS COMMUNITY TRUST LIMITED
Identification and assessment of irregularities including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We designed procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures were capable of detecting irregularities, including fraud is detailed below:
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the association, including The Companies Act 2006 ;
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we obtained an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework by making appropriate enquiries of management as well as considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
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we made enquiries of those charged with governance and management concerning:
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the risks of fraud;
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instances of non-compliance with laws and regulations or knowledge of actual, suspected, or alleged fraud is documented during the period;
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we allocated an engagement team that we considered collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.
Audit response to the risk of irregularities including fraud
Based on the results of our risk assessment, our procedures included, but were not limited to:
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performing analytical procedures to identify any unusual or unexpected relationships.
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evaluating whether the selection and application of accounting policies by the entity that may be indicative of fraudulent financial reporting resulting from management’s effort to manage earnings.
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assessing whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.
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agreeing financial statement disclosures to underlying supporting documentation.
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reading the minutes of meetings of those charged with governance.
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reviewing the correspondence with relevant regulatory bodies.
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testing of journal entries to address the risk of fraud through management override.
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incorporating an element of unpredictability in the selection of the nature, timing, and extent of our audit procedures.
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corroborating the business rationale for transactions outside the normal course of business.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF JOHN POUNDS COMMUNITY TRUST LIMITED
Conclusions regarding the risks of irregularities including fraud
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
We considered our audit was capable of detecting irregularities due to:
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the effectiveness of the entity’s internal controls;
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the nature, timing and extent of audit procedures performed; and
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the absence of contradictory evidence.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Timothy Millett FCA (Senior Statutory Auditor) for and on behalf of Jones Avens Limited
7 December 2021
Chartered Accountants Statutory Auditor
53 Kent Road Southsea Portsmouth Hampshire PO5 3HU
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted Unrestricted Restricted funds funds funds general d esignated 2021 2021 2021 Notes £ £ £ Income from: Donations and legacies 2 501,670 496 211,471 Incoming resources from charitable activities 3 72,519 - - Investment income 4 156 - - Total income 574,345 496 211,471 Expenditure on: Charitable activities 5 471,645 14,495 153,409 Net incoming resources before transfers 102,700 (13,999) 58,062 Gross transfers between funds 12 (96,700) 112,866 (16,166) Net income for the year/ Net movement in funds 6,000 98,867 41,896 Fund balances at 1 April 2020 505 196,377 433,305 Fund balances at 31 March 2021 6,505 295,244 475,201 |
Total Unrestricted Unrestricted Restricted funds funds funds general d esignated 2021 2020 2020 2020 £ £ £ £ 713,637 352,883 5,038 213,100 72,519 242,078 - - 156 626 - - 786,312 595,587 5,038 213,100 639,549 646,160 21,312 78,592 146,763 (50,573) (16,274) 134,508 - 32,324 20,910 (53,234) 146,763 (18,249) 4,636 81,274 630,187 18,754 191,741 352,031 776,950 505 196,377 433,305 |
Total 2020 £ 571,021 242,078 626 813,725 746,064 67,661 - 67,661 562,526 630,187 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) BALANCE SHEET
AS AT 31 MARCH 2021
| Notes Fixed assets Tangible assets 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 Income funds Restricted funds 18 Unrestricted funds Designated funds 19 General unrestricted funds |
2021 £ 34,632 389,974 424,606 (89,633) 295,244 6,505 |
2020 £ £ 441,977 38,332 530,794 569,126 (122,208) 334,973 776,950 475,201 196,377 505 301,749 776,950 |
£ 183,269 446,918 630,187 433,305 196,882 630,187 |
|---|---|---|---|
The financial statements were approved by the Trustees on 7 December 2021
P C Goodship (Chair) Trustee
Company Registration No. 04740185
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Cash flows from operating activities | |||||
| Cash generated from operations | 23 | 136,497 | 131,394 | ||
| Investing activities | |||||
| Purchase of tangible fixed assets | (277,473) | (109,000) | |||
| Proceeds on disposal of tangible fixed | |||||
| assets | - | 253 | |||
| Investment income received | 156 | 626 | |||
| Net cash used in investing activities | (277,317) | (108,121) | |||
| Net cash used in financing activities | - | - | |||
| Net (decrease)/increase in cash and cash | |||||
| equivalents | (140,820) | 23,273 | |||
| Cash and cash equivalents at beginning of year | 530,794 | 507,521 | |||
| Cash and cash equivalents at end of year | 389,974 | 530,794 |
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Charity information
John Pounds Community Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The John Pounds Centre, 23 Queen Street, Portsea, Portsmouth, Hants, PO1 3HN.
1.1 Accounting convention
The financial statements have been prepared in accordance with the trust's Memorandum and Articles of Association, the Companies Act 2006 and "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)". The trust is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the trust . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
In reaching this conclusion the trustees have considered the COVID19 pandemic and the impact on their business of possible scenarios brought on by this event, alongside the measures that they can take to mitigate the impact. These measures included accessing government support with Coronavirus Job Retention Scheme and local authority small business grants.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements .
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Assets given for use by the trust are recognised when receivable.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
Grants receivable from government and charitable foundations are taken to income when the conditions for receipt are met. Grants are deferred if the donor specifies that the expenditure must be incurred at a later date.
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it is receivable.
Membership subscriptions are recognised when received.
Income from trading activities are recognised when invoiced.
1.5 Expenditure
Charitable expenditure comprises those costs incurred by the Trust in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Trust and include the audit fees and costs linked to the strategic management of the Trust.
All costs are allocated directly between the expenditure categories of the accounts on a basis designed to reflect the use of the resource.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Over 5 years Plant and machinery 25% Reducing balance Fixtures, fittings & equipment 25% Reducing balance Computers 33.33% Straight line Motor vehicles 25% Reducing balance
Assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
1.7 Impairment of fixed assets
At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
1.9 Financial instruments
The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the trust 's balance sheet when the trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the trust ’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
2 Donations and legacies
| Unrestricted Unrestricted Restricted funds funds funds general d esignated 2021 2021 2021 £ £ £ Donations and gifts - 96 - Core funding grants 216,879 400 211,471 Donated goods and services 284,791 - - 501,670 496 211,471 Grants receivable for core activities Portsmouth City Council - Core grant 43,126 - - Portsmouth City Council - Service charge grant 24,965 - - The National Lottery Community fund - - 44,876 Hampshire and Isle of Wight Community Foundation - - 9,900 Portsmouth City Council - Retail & Hospitality grant 25,000 - - Coronavirus Job Retention Scheme 108,181 - - Culture Recovery Fund for Heritage - - 69,200 Power to Change Grant - - 80,000 Portsmouth City Council - Local Restrictions 15,357 - - Other 250 400 7,495 216,879 400 211,471 |
TotalUnrestricted Unrestricted Restricted funds funds funds general d esignated 2021 2020 2020 2020 £ £ £ £ 96 - 3,238 - 428,750 68,091 1,800 213,100 284,791 284,792 - - 713,637 352,883 5,038 213,100 43,126 43,126 - - 24,965 24,965 - - 44,876 - - 48,800 9,900 - - 4,980 25,000 - - - 108,181 - - - 69,200 - - - 80,000 - - 157,920 15,357 - - - 8,145 - 1,800 1,400 428,750 68,091 1,800 213,100 |
Total 2020 £ 3,238 282,991 284,792 571,021 43,126 24,965 48,800 4,980 - - - 157,920 - 3,200 282,991 |
|---|---|---|
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 2 Donations and legacies
(Continued)
Deferred income
Income is deferred when the full conditions of receipt have not yet been fulfilled.
Donated goods and services
The Trust occupies premises provided by Portsmouth City Council (PCC). In addition PCC maintain the structure of the building. These benefits which have been quantified in the sum of £284,791 have been included as both income and expenditure in the accounts, the former on the basis of an estimate of commercial rent, the latter according to planned maintenance survey figures.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
3 Incoming resources from charitable activities
| Community | Community |
|
|---|---|---|
| support | support |
|
| facilities | facilities |
|
| 2021 | 2020 |
|
| £ | £ |
|
| Provision of community centre facilities | 72,519 | 242,078 |
Charitable trading income
The Trust's main activity is the provision of a community centre with income generated through the hire of the facilities by community groups, residents and medical providers.
4 Investment income
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2021 | 2020 | |
| £ | £ | |
| Interest receivable | 156 | 626 |
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
5 Charitable activities
| Community | Community |
|
|---|---|---|
| support | support |
|
| facilities | facilities |
|
| 2021 | 2020 |
|
| £ | £ |
|
| Staff costs | 216,090 | 250,579 |
| Depreciation and impairment | 18,764 | 22,386 |
| Activity and coaching costs | 8,153 | 20,474 |
| Profit/loss on disposal of tangible assets | - | 253 |
| 243,007 | 293,692 |
|
| Share of support costs (see note 7) | 391,050 | 447,170 |
| Share of governance costs (see note 7) | 5,492 | 5,202 |
| 639,549 | 746,064 |
|
| Analysis by fund | ||
| Unrestricted funds - general | 471,645 | 646,160 |
| Unrestricted funds - designated | 14,495 | 21,312 |
| Restricted funds | 153,409 | 78,592 |
| 639,549 | 746,064 |
6 Description of charitable activities
Community support facilities
Through the provision of a community centre, the Trust offers health and wellbeing support to the local community and the hire of its facilities to various groups and organisations.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
7 Support costs
| Support costs Governance costs £ £ Operating lease charges 5,580 - Marketing 3,878 - Premises costs 351,630 - Administration 26,930 - Staff related costs 417 - Finance costs 814 - General expenditure 1,801 - Audit fees - 5,492 391,050 5,492 Analysed between Charitable activities 391,050 5,492 |
2021 £ 5,580 3,878 351,630 26,930 417 814 1,801 5,492 396,542 396,542 |
Support costs Governance costs £ £ 5,540 - 7,614 - 401,350 - 25,502 - 878 - 1,321 - 4,965 - - 5,202 447,170 5,202 447,170 5,202 |
2020 £ 5,540 7,614 401,350 25,502 878 1,321 4,965 5,202 452,372 452,372 |
|---|---|---|---|
The trustees consider that all support and governance costs should be allocated to the charitable activities of the Trust.
Support costs include payments to the auditor of £20,066 (2020- - £14,400) for management accounting and latterly bookkeeping services.
Governance costs includes payments to the auditors of £ 5,492 (2020- £ 5,202 ) for audit fees.
| 8 | Net movement in funds | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Net movement in funds is stated after charging/(crediting) | |||
| Fees payable to the company's auditor for the audit of the company's | |||
| financial statements | 5,492 | 5,202 | |
| Depreciation of owned tangible fixed assets | 18,765 | 22,385 | |
| Operating lease charges | 5,580 | 5,540 |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year, and none of them were reimbursed expenses (2020- none w ere reimbursed).
During the year the Trust paid , as part of its insurance costs, a proportion in respect of insurance to protect the Trust from loss arising from the neglect or defaults of its Trustee's and indemnify the Trustee's against consequences of any neglect or default on their part.
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JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
10 Employees
The average monthly number of employees during the year was:
| Charitable Employment costs Wages and salaries Social security costs Other pension costs |
2021 Number 12 2021 £ 199,410 13,219 3,461 216,090 |
2020 Number 13 2020 £ 232,563 14,380 3,636 250,579 |
|---|---|---|
Including a full-time equivalent number of staff of 8.17.
There were no employees whose annual remuneration was more than £60,000.
11 Taxation
The income of the Trust is exempt from charge to tax in accordance with the provisions of the Corporation Tax Act 2010 and the Taxation of Chargeable Gains Act 1992.
12 Transfers
A total transfer of £16,166 was made to unrestricted funds from various restricted funds during the year representing rent, room hire and administration fees for running projects.
A transfer of £25,000 was made to designated renewals fund from unrestricted funds during the year to cover the costs of replacing computers and equipment in future years. A further transfer was made of £87,866 to a new COVID Recovery designated fund from unrestricted funds as a contribution to enable the centre to continue offering its services post pandemic.
- 22 -
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 13 Tangible fixed assets Land and buildings Plant and machinery Fixtures, fittings & equipment Computers Motor vehicles £ £ £ £ £ Cost At 1 April 2020 133,549 132,929 11,314 16,086 12,900 Additions 265,187 - 8,699 3,587 - Disposals - - - (476) - At 31 March 2021 398,736 132,929 20,013 19,197 12,900 Depreciation and impairment At 1 April 2020 9,628 80,692 8,431 14,009 10,749 Depreciation charged in the year 3,209 13,060 721 1,237 538 Eliminated in respect of disposals - - - (476) - At 31 March 2021 12,837 93,752 9,152 14,770 11,287 Carrying amount At 31 March 2021 385,899 39,177 10,861 4,427 1,613 At 31 March 2020 123,921 52,237 2,883 2,077 2,151 The carrying value included in land and buildings comprises: 2021 £ Freehold 385,899 14 Debtors 2021 Amounts falling due within one year: £ Trade debtors 4,676 Other debtors 20,359 Prepayments and accrued income 9,597 34,632 |
Total £ 306,778 277,473 (476) 583,775 123,509 18,765 (476) 141,798 441,977 183,269 2020 £ 123,921 2020 £ 26,973 114 11,245 38,332 |
|---|---|
- 23 -
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
15 Creditors: amounts falling due within one year
| Notes Deferred income 16 Trade creditors Other creditors Accruals and deferred income |
2021 £ 16,434 36,700 696 35,803 89,633 |
2020 £ 69,118 36,082 761 16,247 122,208 |
|---|---|---|
Included within other creditors are monies held as agents. John Pounds Coummunity Trust have no input into the generation of income or expenditure of these funds, they are merely holding the money on behalf of a third party. The following is an analysis of monies held as agents:
| Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Transfers | Balance at 31 | |
| April 2020 | resources | expended | March 2021 | ||
| £ | £ | £ | £ | £ | |
| Top Tots | 683 | - | (65) | - | 618 |
| 683 | - | (65) | - | 618 | |
| Deferred income | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Other deferred income | 16,434 | 69,118 |
16 Deferred income
Deferred income is included in the financial statements as follows:
Portsmouth City Council - Library Service £0 (2020- £8,293) Portsmouth City Council - Youth Club £0 (2020- £4,168) Portsmouth City Council - Housing office £0 (2020- £8,336) Portsmouth City Council - Core Costs £0 (2020- £43,126) Southern Dental rental income £15,585 (2020- £5,195) Rental income £849 (2020- £0)
17 Retirement benefit schemes
Defined contribution schemes
The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £3,461 (2020 - £3,636).
- 24 -
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
18 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Balance at 1 April 2019 £ Fixed Assets Reviving Treadgold building 111,000 Accessible Disability Toilet 9,900 Power to Change 98,000 Fixed Asset fund 68,654 Other Funds Foodcycle Portsmouth 4,148 PCC Summer fund - HIWCF 2,529 Pocket Parks Plus 57,800 Good 4 You - Culture Recovery Fund for Heritage - Holiday Activities - Power to Change - Sport England - The National Lottery Community fund - 352,031 |
Movement in funds Incoming resources Resources expended Transfers Balance at 1 April 2020 £ £ £ £ - - - 111,000 - - - 9,900 157,920 (12,584) (104,050) 139,286 - (14,810) 87,375 141,219 - (2,295) (1,853) - 1,000 - (1,000) - 5,380 (2,299) (1,960) 3,650 - (19,234) (15,738) 22,828 48,800 (27,370) (16,008) 5,422 - - - - - - - - - - - - - - - - - - - - 213,100 (78,592) (53,234) 433,305 |
Movement in funds Incoming resources Resources expended Transfers Balance at 31 March 2021 £ £ £ £ - - (67,599) 43,401 - - (9,900) - 50,000 (1,598) (187,688) - - (8,008) 274,983 408,194 - - - - - - - - 9,900 (1,466) (3,742) 8,342 - (8,823) (4,168) 9,837 - (2,754) (2,668) - 69,200 (62,991) (6,209) - 5,495 (68) - 5,427 30,000 (30,000) - - 2,000 (2,000) - - 44,876 (35,701) (9,175) - 211,471 (153,409) (16,166) 475,201 |
|---|---|---|
- 25 -
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
18 Restricted funds
(Continued)
Reviving Treadgold building
Funding provided by Portsmouth City Council towards the restoration costs of the Grade II listed Treadgold building. This will create a new multi use space, meeting room and ancillary spaces for the community use. The new space will be in use from April 2021.
Accessible Disability Toilet
Funding awarded from National Lottery Awards for All to install disabled toilet facilities in the Treadgold building.
Power to Change
A grant from Power to Change Trust Community Business Fund Grants Programme. This funding was be used to conserve and revive part of the Treadgold building.
Fixed Asset fund
This fund has been set aside to account for all assets purchased using restricted funds and comprises the net book value of assets at the year end.
Foodcycle Portsmouth
Funding from Portsmouth City Community Fund and administered by the Hampshire and Isle of Wight Community Foundation. The grant was to provide free community meals in the local area for those struggling with food poverty and social isolation.
PCC Summer fund
A grant from The Portsmouth Lottery used to fund young people access summer holiday clubs, play schemes, trips and outings.
HIWCF
The following are funds administered by Hampshire and Isle of Wight Community Foundation:
-
Fit4Life - Funding from Montagu Neville Durnford & St Leo Cawthan Fund. The grant was to provide weekly inclusive sessions at the centre for local over 50's and other older persons within the area linked with Naval Service. It's aim was to start and maintain regular physical activities and to improve their general wellbeing and fitness.
-
Better Start - Funding to run half term holiday activity programmes.
-
Gym Equipment - A grant from Lord Mayor of Portsmouth Charity Appeal used to purchase additional gym equipment.
-
Art4Life - Funding from Montagu Neville Durnford & St Leo Cawthan Fund. This funding is being used to provide inclusive creative sessions for the benefit of local over-50s and other older persons living in Portsmouth.
-
National Emergency - A Net Coronavirus Programme funding to adapt and repurpose a redundant communal space into COVID secure training space.
-
26 -
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
18 Restricted funds
(Continued)
Pocket Parks Plus
Funding through Portsmouth City Council from The Ministry of Housing, Communities and Local Government to refurbish parks where people can relax, exercise, socialise and play.
The National Lottery Community fund - Good 4 U
Funding provided by The National Lottery Community Fund. This funding enabled the centre to focus on supporting people experiencing social isolation, and people with physical and/or mental health problems by delivering a range of social, nutritional and physical wellbeing activities.
Culture Recovery Fund for Heritage
Funding from the Culture Recovery Fund for Heritage, distributed by The National Lottery Heritage Fund in partnership with Historic England as a contribution to support the operational costs of the centre over the period of national lockdown.
Holiday Activities
A Portsmouth City Council fund for the holiday food and activities programme in Easter 2021.
Power to Change
Funding from COVID19 Emergency Trading Income Support scheme to provide urgent and vital support during the pandemic covering core operational costs.
Sport England
A Community Emergency Fund to support irrecoverable costs incurred through the COVID19 pandemic.
- The National Lottery Community Fund Getting Back to Health
Funding from the Coronavirus Community Support Fund, distributed by The National Lottery Community Fund to support the delivery of a health and wellbeing programme over the lockdown period and transition back to using the centre.
- 27 -
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
19 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Balance at 1 April 2019 £ Renewals fund 112,601 Social Enterprise fund 10,000 Project closure costs fund 15,934 Treadgolds fund 4,574 COVID recovery fund - Foodcycle fund 7,693 Food Portsmouth Fund 12,688 Fixed Asset fund 28,251 191,741 |
Movement in funds Incoming resources Resources expended £ £ - - - - - - - (2,347) - - 5,038 (7,466) - (3,670) - (7,829) 5,038 (21,312) |
Transfers Balance at 1 April 2020 £ £ (1,716) 110,885 - 10,000 - 15,934 - 2,227 - - 1,000 6,265 - 9,018 21,626 42,048 20,910 196,377 |
Movement in funds Incoming resources Resources expended £ £ - - - - - - - (718) - - 496 (2,614) - (406) - (10,757) 496 (14,495) |
Transfers Balance at 31 March 2021 £ £ 22,510 133,395 - 10,000 - 15,934 - 1,509 87,866 87,866 - 4,147 - 8,612 2,490 33,781 112,866 295,244 |
|---|---|---|---|---|
Renewals f und
The renewals fund has been set up to cover the cost of replacing computers and equipment based on a 10 year renewal programme, which is essential if the Centre is to exist in the long term. The trustees have directed that if available a sum of up to £25,000, but not exceeding unrestricted funds surplus, be put aside each year out of the general unrestricted funds for this purpose. A sum of £2,490 has been drawn down from the fund in respect of fixed assets purchased in the year.
Social Enterprise f und
The social enterprise fund is to assist the development of business established by local residents within the Centre.
Project Closure Costs f und
The project closure cost fund will enable the Trust to continue to provide services for a period beyond that covered by the grant, whilst actively seeking new sources of funding.
- 28 -
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
19 Designated funds
(Continued)
Treadgolds fund
This fund has been set aside to provide ongoing support towards the new Treadgolds building which will be used for the delivery of services which are core to the Trusts objectives.
COVID Recovery fund
Funding set aside to help with transition back to normal centre services over the next five years.
Foodcycle fund
This fund has been set aside to support the ongoing operation of the foodcycle project through donations and contributions from "kitchen takeovers" and fundraising by the Trust.
Food Portsmouth fund
This fund has been set aside to help support future workshops and events in the community and is funded by donations and fundraising by the Trust.
Fixed Asset fund
This fund has been set aside to account for all assets purchased using designated funds.
20 Analysis of net assets between funds
| Unrestricted funds Designated funds Restricted funds 2021 2021 2021 £ £ £ Fund balances at 31 March 2021 are represented by: Tangible assets - 33,781 408,196 Current assets/(liabilities) 6,505 261,463 67,005 6,505 295,244 475,201 |
TotalUnrestricted funds Designated funds Restricted funds 2021 2020 2020 2020 £ £ £ £ 441,977 2 42,048 141,219 334,973 503 154,329 292,086 776,950 505 196,377 433,305 |
Total 2020 £ 183,269 446,918 630,187 |
|---|---|---|
- 29 -
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
21 Operating lease commitments
Lessee
At the reporting end date the trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| Within one year Between two and five years |
2021 £ 2,153 489 2,642 |
2020 £ 2,153 1,956 4,109 |
|---|---|---|
Lessor
The operating leases represent subleases to third parties. The leases are negotiated over terms of 1 year to 10 years and rentals are fixed over the term of the lease. There is one significant lease held for an initial period of 10 years. All leases are not continuous at their end date and must be renewed to allow continued occupation.
At the reporting end date the total future minimum sublease payments expected to be received under noncancellable subleases was
| Within one year Between two and five years |
2021 £ 21,184 - 21,184 |
2020 £ 32,315 21,184 53,499 |
|---|---|---|
22 Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Aggregate compensation | 45,321 | 45,345 |
There were no disclosable related party transactions during the year (2020 - none) .
- 30 -
JOHN POUNDS COMMUNITY TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 23 Cash generated from operations Surplus for the year Adjustments for: Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets Movements in working capital: Decrease/(increase) in debtors Increase/(decrease) in creditors (Decrease)/increase in deferred income Cash generated from operations |
2021 £ 146,763 (156) 18,765 3,700 20,109 (52,684) 136,497 |
2020 £ 67,661 (626) 22,385 (12,699) (7,832) 62,505 131,394 |
|---|---|---|
24 Analysis of changes in net funds
The trust had no debt during the year.
25 Auditor's Ethical Standards
The relevant circumstances requiring disclosure in accordance with the requirements of the FRC Revised Ethical Standard 2019 - Provision Available for Audits of Small Entities are that, in common with many charities of our size and nature we use our auditors to assist with the preparation of the accounts.
- 31 -