Registered number: 04858513 PENRITH PARISH CENTRE LIMITED DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| Penrith Parish Centre Limited Directors' Report and Unaudited Financial Statements For The Year Ended 31 December 2020 Contents Page Company Information 1 Directors' Report 2 Accountant's Report 3 Income and Expenditure Account 4 Balance Sheet 5—6 Notes to the Financial Statements 7—9 The following pages do not form part of the statutory accounts: Detailed Income and Expenditure Account 10—11 For Approval |
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| Penrith Parish Centre Limited Company Information For The Year Ended 31 December 2020 Directors Mrs Marilyn Allison Mrs Roberta Angus Mrs Sandra Barton Mr John Green Mr Stuart Harper Mr Leonard Hope Rev Lesley Ridley Rev David Sargent Mr Peter Simpson Mr Paul Donald Secretary Mr Peter Simpson Company Number 04858513 Registered Office Penrith Parish Centre Saint Andrews Place Penrith Cumbria CA11 7XX Accountants ASAP Accountancy Services Ltd 11 Devonshire Street Penrith Cumbria CA11 7SR Page 1 For Approval |
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Penrith Parish Centre Limited Company No. 04858513 Directors' Report For The Year Ended 31 December 2020 The directors present their report and the financial statements for the year ended 31 December 2020. Statement of Directors' Responsibilities The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to: select suitable accounting policies and then apply them consistently; make judgments and accounting estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Directors The directors who held office during the year were as follows: Mrs Marilyn Allison Mrs Roberta Angus Mrs Sandra Barton Mr John Green Mr Stuart Harper Mr Leonard Hope Rev Lesley Ridley Rev David Sargent Mr Peter Simpson Mr Paul Donald Mrs Anne Isherwood APPOINTED 12/02/2020 RESIGNED 13/07/2020 Mrs Polly Meredith RESIGNED 31/03/2020 Small Company Rules This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. On behalf of the board Rev Lesley Ridley Director 20/05/2021 Page 2
Penrith Parish Centre Limited Accountant's Report For The Year Ended 31 December 2020 In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us. This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this 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 Company and the Company's directors for our work or for this report. You have acknowledged on the balance sheet as at year ended 31 December 2020 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year. We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. Mrs Suzanne Stirland 20/05/2021 ASAP Accountancy Services Ltd 11 Devonshire Street Penrith Cumbria CA11 7SR Page 3
| Penrith Parish Centre Limited Income and Expenditure Account For The Year Ended 31 December 2020 |
Penrith Parish Centre Limited Income and Expenditure Account For The Year Ended 31 December 2020 |
2019 £ 64,602 64,602 (34,414) 2,685 32,873 80 (1,872) 31,081 al |
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| Notes TURNOVER GROSS SURPLUS Administrative expenses Other operating income OPERATING (DEFICIT)/SURPLUS Other interest receivable and similar income Interest payable and similar charges (DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR The notes on pages 7 to 9 form part of these financial statements. Page 4 For Ap |
2020 £ 20,926 20,926 (61,166) 26,981 (13,259) 25 (1,872) (15,106) prov |
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Penrith Parish Centre Limited
Balance Sheet
As at 31 December 2020
2020 2019
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 12,253 9,786
12,253 9,786
CURRENT ASSETS
Debtors 4 132 1,719
Cash at bank and in hand 14,089 32,225
14,221 33,944
Creditors: Amounts Falling Due Within One 5 (18,943) (8,593)
Year
NET CURRENT ASSETS (LIABILITIES) (4,722) 25,351
TOTAL ASSETS LESS CURRENT LIABILITIES 7,531 35,137
Creditors: Amounts Falling Due After More 6 - (12,500)
Than One Year
NET ASSETS 7,531 22,637
Income and Expenditure Account 7,531 22,637
MEMBERS' FUNDS 7,531 22,637
Page 5
For Approval
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Penrith Parish Centre Limited Balance Sheet (continued) As at 31 December 2020 For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. On behalf of the board Rev Lesley Ridley Director 20/05/2021 The notes on pages 7 to 9 form part of these financial statements. Page 6
Penrith Parish Centre Limited Notes to the Financial Statements For The Year Ended 31 December 2020 1. Accounting Policies 1.1. Basis of Preparation of Financial Statements The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. 1.2. Turnover Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. 1.3. Tangible Fixed Assets and Depreciation Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Leasehold 20% Plant & Machinery 20% Fixtures & Fittings 20% Computer Equipment 20% 1.4. Government Grant Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. 2. Average Number of Employees Average number of employees, including directors, during the year was as follows: 3 (2019: 3) Page 7
Penrith Parish Centre Limited Notes to the Financial Statements (continued) For The Year Ended 31 December 2020 3. Tangible Assets Land & Property Leasehold Plant & Fixtures & Computer Total Machinery Fittings Equipment £ £ £ £ £ Cost As at 1 January 2020 69,798 2,057 994 837 73,686 Additions - 4,500 - - 4,500 As at 31 December 2020 69,798 6,557 994 837 78,186 Depreciation As at 1 January 2020 61,492 1,979 199 230 63,900 Provided during the period 1,661 91 159 122 2,033 As at 31 December 2020 63,153 2,070 358 352 65,933 Net Book Value As at 31 December 2020 6,645 4,487 636 485 12,253 As at 1 January 2020 8,306 78 795 607 9,786 4. Debtors 2020 2019 £ £ Due within one year Trade debtors 446 1,151 Prepayments and accrued income (314) 568 132 1,719 5. Creditors: Amounts Falling Due Within One Year 2020 2019 £ £ Trade creditors - 242 Other taxes and social security 290 323 Accruals and deferred income 528 528 Key fund loan 18,125 7,500 18,943 8,593 6. Creditors: Amounts Falling Due After More Than One Year 2020 2019 £ £ Bank loans - 12,500 - 12,500 Page 8
Penrith Parish Centre Limited Notes to the Financial Statements (continued) For The Year Ended 31 December 2020 7. Related Party Transactions The company is required to pay an annual rent of £500 to St.Andrew’s Rooms Trustees which has a Trustee in common.The arrangement with the Parochial Church Council of St.Andrew’s Penrith,whereby they shared the cost of both the Administrator & the Office came to an end in 2019 & the Church Office began operating out of another room & paying rent as others do. 8. Company limited by guarantee The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1. 9. Notes to the Accounts ACHIEVEMENTS AND PERFORMANCE The Charity continues to act according to its aims & objectives,when government rules allow.Until the Pandemic happened the Centre continued to be used by an increasingly wide variety of community activities by both local people & visitors to Penrith alike.Many user groups had long standing involvement with the Centre & continued to function well.New users have always commented on the friendly atmosphere & seemed quick to establish themselves. St.Andrew’s Catering Company,who ran a Cafe in the Centre for 27 years,decided at the beginning of the Pandemic to call it a day and since then Centre Directors have been investigating setting up a new Community Interest Company to run a similar Cafe that would continue to act as a meeting hub for users of the Centre,members of the community & vistors to the town. The Trustees express their deep thanks to volunteers who provide much assistance in a variety of areas but especially this year to David Fitheridge,without whom we could not have carried on.Our paid staff too have been invaluable working with enthusiasm & commitment before the Pandemic & being prepared to be flexible about arrangements when government rules changed & we were able to open up,even if under very changed circumstances. Despite the problems this year has brought we have been able to bring to fruition the restoration & refurbishment work put in hand at the end of 2019 which has involved insulating & replastering walls in the back stairs area & removing the ceiling in the old caretakers flat to insulate the roof.The corridor in the flat was also removed & a new fire safe entry was constructed to allow us to offer a new,bright,vaulted ceilinged room for hire.The old flat,the small meeting room on the first floor & the staircase top to bottom were then decorated. FINANCIAL REVIEW The primary objective of this Charity is at least to break even & ideally to create a surplus toward future expenditure. The Charity relies for its income primarily on the letting of rooms and the closure of buildings such as the Centre by the government was a major problem.Government Grants however have allowed us to service our loan to Key Fund & standing charges for insurance,water,fuel,phone,health & safety & tax etc. Investment Policy The Charity has no investment policy in view of the small sums of cash held by it PLANS FOR FUTURE PERIODS The directors have continued to make enquiries about grants but due to the Pandemic feel that the priority for the future is to keep ourselves afloat and to investigate the establishment of a Community Interest Company to run a cafe within the Centre. 10. General Information Penrith Parish Centre Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 04858513. The registered office is Penrith Parish Centre, Saint Andrews Place, Penrith, Cumbria, CA11 7XX. Page 9
| Penrith Parish Centre Limited Detailed Income and Expenditure Account For The Year Ended 31 December 2020 |
Penrith Parish Centre Limited Detailed Income and Expenditure Account For The Year Ended 31 December 2020 |
Penrith Parish Centre Limited Detailed Income and Expenditure Account For The Year Ended 31 December 2020 |
2019 £ £ 47,436 92 15,500 1,574 64,602 64,602 15,816 177 35 102 4,966 110 815 2,603 - 5,168 - 415 - 103 120 490 564 325 80 19 199 230 2,077 - (34,414) ...CONTINUED val |
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| TURNOVER Room lettings Notice board adverts Grants Other income GROSS SURPLUS Administrative Expenses Gross wages Employers pensions - defined contributions scheme Rent and room hire General rates & BID Light and heat Water rates Cleaning and hygiene Premises insurance Computer software, consumables and maintenance Repairs, renewals and maintenance Back stairs renovations Printing, postage and stationery Gifts Advertising and marketing costs Training seminars and workshops Telephone Accountancy fees Licences and subscriptions Bank charges Depreciation of plant and machinery Depreciation of fixtures and fittings Depreciation of computer equipment Depreciation of improvements to property Depreciation of catering equipment Page For A |
2020 £ £ 19,337 21 750 818 20,926 20,926 14,544 92 - 103 4,027 118 282 2,170 247 2,299 33,921 36 40 - - 399 541 237 78 16 159 121 1,661 75 (61,166) 10 ppro |
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| 20,926 20,926 (61,166) ro |
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Penrith Parish Centre Limited Detailed Income and Expenditure Account (continued) For The Year Ended 31 December 2020 Other Operating Income Donations 4,170 2,685 Government grant receipts - net 16,639 - Job retention grant 6,172 - 26,981 2,685 OPERATING (DEFICIT)/SURPLUS (13,259) 32,873 Other interest receivable and similar income Bank interest receivable 25 80 25 80 Interest payable and similar expenses Bank loan interest 1,872 1,872 (1,872) (1,872) (DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR (15,106) 31,081 Page 11