Registered number: 04858513
PENRITH PARISH CENTRE LIMITED DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
Penrith Parish Centre Limited Directors' Report and Unaudited Financial Statements For The Year Ended 31 December 2021
| Contents | |
|---|---|
| Page | |
| Company Information | 2 |
| Directors' Report | 3 |
| Accountant's Report | 4 |
| Income and Expenditure Account | 5 |
| Balance Sheet | 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 |
Page 1
Penrith Parish Centre Limited Company Information For The Year Ended 31 December 2021
| Directors | Mr Paul Donald |
|---|---|
| Mrs Marilyn Allison | |
| Mr Stuart Harper | |
| Mrs Roberta Angus | |
| Mrs Sandra Barton | |
| Rev David Sargent | |
| Rev Lesley Ridley | |
| Mr John Green | |
| Mr Leonard Hope | |
| Mr Peter Simpson | |
| 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 2
Penrith Parish Centre Limited Company No. 04858513 Directors' Report For The Year Ended 31 December 2021
The directors present their report and the financial statements for the year ended 31 December 2021.
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.
ORGANISATIONAL STRUCTURE
The Trustees of the Charity have during 2021 met in person only 2 times due to the Covid 19 Pandemic.Discussion of important matters has taken place on line.Trustees have had equal voting rights. Day to day administration is normally in the hands of the Office Manager Lesley Anne Fitheridge who works 20 hours per week.
The office manager & cleaner have been on furlough or part time furlough from January to July according to Government guidelines,& when appropriate been in receipt of80% of pay,met from government funds.Regular contact has been maintained with them at least on a monthly basis.
David Fitheridge,our volunteer bookkeeper,agreed to have the office phone line transferred to his home & to monitor calls which were then dealt with by himself or Lesley Ridley,Chair of Trustees.There have been constant changes to regulations for the whole of the year & this has required a great deal of reading up on,form filling & challenge.
Directors
The directors who held office during the year were as follows: Mr Paul Donald Mrs Marilyn Allison Mr Stuart Harper Mrs Roberta Angus Mrs Sandra Barton Rev David Sargent Rev Lesley Ridley Mr John Green Mr Leonard Hope Mr Peter Simpson
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
16/03/2022
Page 3
Penrith Parish Centre Limited Accountant's Report For The Year Ended 31 December 2021
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 2021 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
16/03/2022
ASAP Accountancy Services Ltd
11 Devonshire Street Penrith Cumbria CA11 7SR
Page 4
Penrith Parish Centre Limited Income and Expenditure Account For The Year Ended 31 December 2021
| Notes TURNOVER GROSS SURPLUS Administrative expenses Other operating income OPERATING SURPLUS/(DEFICIT) Other interest receivable and similar income Interest payable and similar charges SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR |
2021 £ 26,455 26,455 (33,248) 80,948 74,155 4 (936) 73,223 |
2020 £ 20,926 |
|---|---|---|
| 20,926 (61,166) 26,981 |
||
| (13,259) 25 (1,872) |
||
| (15,106) |
The notes on pages 7 to 9 form part of these financial statements.
Page 5
Penrith Parish Centre Limited Balance Sheet As at 31 December 2021
| Notes FIXED ASSETS Tangible Assets 3 CURRENT ASSETS Debtors 4 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 5 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2021 £ £ 9,802 9,802 331 71,490 71,821 (869) 70,952 80,754 80,754 80,754 80,754 |
2021 £ £ 9,802 9,802 331 71,490 71,821 (869) 70,952 80,754 80,754 80,754 80,754 |
2020 £ £ 12,253 12,253 132 14,089 14,221 (18,943) (4,722) 7,531 7,531 7,531 7,531 |
2020 £ £ 12,253 12,253 132 14,089 14,221 (18,943) (4,722) 7,531 7,531 7,531 7,531 |
|---|---|---|---|---|
| 9,802 70,952 |
12,253 (4,722) |
|||
| 71,821 (869) |
14,221 (18,943) |
|||
| 80,754 | 7,531 | |||
| 80,754 | 7,531 | |||
| 80,754 | 7,531 | |||
| 80,754 | 7,531 |
For the year ending 31 December 2021 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
16/03/2022
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 2021
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: 2 (2020: 3)
3. Tangible Assets
| Cost As at 1 January 2021 As at 31 December 2021 Depreciation As at 1 January 2021 Provided during the period As at 31 December 2021 Net Book Value As at 31 December 2021 As at 1 January 2021 |
Land & Property Leasehold £ 69,798 |
Plant & Machinery £ 6,557 |
Fixtures & Fittings £ 994 |
Computer Equipment £ 837 |
Total £ 78,186 |
|---|---|---|---|---|---|
| 69,798 | 6,557 | 994 | 837 | 78,186 | |
| 63,153 1,329 |
2,070 897 |
358 127 |
352 98 |
65,933 2,451 |
|
| 64,482 | 2,967 | 485 | 450 | 68,384 | |
| 5,316 | 3,590 | 509 | 387 | 9,802 | |
| 6,645 | 4,487 | 636 | 485 | 12,253 |
Page 7
Penrith Parish Centre Limited Notes to the Financial Statements (continued) For The Year Ended 31 December 2021
4. Debtors
| . Debtors |
||
|---|---|---|
| Due within one year Trade debtors Prepayments and accrued income . Creditors: Amounts Falling Due Within One Year Other taxes and social security Accruals and deferred income Key fund loan |
2021 £ 331 - 331 2021 £ 341 528 - 869 |
2020 £ 446 (314) |
| 132 | ||
| 2020 £ 290 528 18,125 |
||
| 18,943 |
5. Creditors: Amounts Falling Due Within One Year
6. 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.
7. 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.
8. 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 for an increasingly wide variety of community activities by both local people & visitors to Penrith alike.During the Pandemic many user groups who had long standing involvement with the Centre ceased to function but when regulations allowed new users have come along & commented favourably on the Covid safety & supportive atmosphere in the building.
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 & since then the Centre Directors have been investigating whether it is possible for 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 & visitors to the town.To facilitate that a very generous gift of £50,000 was given by Anne Clarke(now deceased) to refurbish much of the ground floor of the Centre.
The Trustees express their deep thanks to volunteers who provided much assistance in a variety of areas,but again this year especially to David Fitheridge,without whom we could not have carried on.Our paid staff too have been invaluable working with enthusiasm & commitment despite the Pandemic when able to do so.By being prepared to be flexible about arrangements when government rules changed they enabled us to open up,even if under very changed circumstances & thus have allowed our income from hiring to be much better than we could have expected.
Despite the problems this year has brought we have been able to pay off the Loan still outstanding from the roof restoration & to begin refurbishment work on the ground floor,put in hand at the beginning of March.
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 letting rooms & closure of buildings such as the Centre by the government was a major problem.Government Grants however have allowed us to service & then repay our loan to Key Fund & to meet standing charges for insurance,water,fuel,phone,health & safety & tax etc. INVESTMENT POLlCY
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,continue to investigate the re establishment of a Cafe within the Centre & market the Centre more widely.
Page 8
Penrith Parish Centre Limited Notes to the Financial Statements (continued) For The Year Ended 31 December 2021
9. 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 2021
| 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 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 Other Operating Income Donations HMRC Gift aid Government grant receipts - net Job retention grant Gift aided donations OPERATING SURPLUS/(DEFICIT) |
2021 £ £ 25,809 - - 646 26,455 26,455 15,125 106 1,500 103 2,163 113 209 2,530 37 5,270 2,272 68 - 90 382 528 230 72 12 127 97 1,329 885 (33,248) 50,035 6,010 19,710 4,296 897 80,948 74,155 |
2021 £ £ 25,809 - - 646 26,455 26,455 15,125 106 1,500 103 2,163 113 209 2,530 37 5,270 2,272 68 - 90 382 528 230 72 12 127 97 1,329 885 (33,248) 50,035 6,010 19,710 4,296 897 80,948 74,155 |
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) 4,170 - 16,639 6,172 - 26,981 (13,259) ...CONTINUED |
|---|---|---|---|
| 26,455 26,455 (33,248) 80,948 |
|||
| 50,035 6,010 19,710 4,296 897 |
4,170 - 16,639 6,172 - |
||
| 74,155 |
Page 10
Penrith Parish Centre Limited Detailed Income and Expenditure Account (continued) For The Year Ended 31 December 2021
| Other interest receivable and similar income Bank interest receivable Interest payable and similar expenses Bank loan interest SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR |
4 | 4 (936) |
25 | 25 (1,872) |
|---|---|---|---|---|
| 936 | 1,872 | |||
| 73,223 | (15,106) |
Page 11