Company Registration Number 04840851 Charity number 1101339
Bolton Community Furniture Store Limited
Trustees’ Report and Financial Statements
For The Year Ended
31 March 2023
Bolton Community Furniture Store Limited
Contents
Page Members of the board and professional advisers 1 Trustees annual report 2 Independent examiner's report to the members 6 Statement of financial activities (incorporating the income and expenditure account) 7 Balance sheet 8 Notes to the financial statements 9
Bolton Community Furniture Store Limited Company Information
| Registered charity name | Bolton Community Furniture Store Limited |
|---|---|
| Charity number | 1101339 |
| Company registration number | 04840851 |
| Principal office | Unit A1 |
| Lecturers Close | |
| Bolton | |
| Lancashire | |
| BL3 6DG | |
| Trustees | Andrew Wray Wallen |
| Jeanne Marie Kelly | |
| Gemma Louise Parlby (resigned 7 March 2023) | |
| Steven Lyons (appointed on 7 March 2023) | |
| Secretary | Andrew Wray Wallen |
| Independent examiner | Nicola Mason ACA DChA |
| MHA Moore and Smalley | |
| 9 Winckley Square | |
| Preston | |
| PR1 3HP | |
| Bankers | The Co-operative Bank plc |
| Olympic House | |
| 6 Olympic Court | |
| Montford Street | |
| Salford | |
| M50 2QP |
Page | 1
Bolton Community Furniture Store Limited
Trustees’ Annual Report
Year ended 31 March 2023
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements for the company for the year ended 31 March 2023.
Reference and administrative details
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.
The trustees
The trustees who served the company during the period were as follows:
Jeanne Marie Kelly (Chairman) Andrew Wray Wallen (Secretary/Treasurer) Gemma Louise Parlby (resigned 7 March 2023) Steven Lyons (appointed 7 March 2023)
Structure, governance and management
Governing document
Bolton Community Furniture Store Limited is a company limited by guarantee. It was incorporated on 22 July 2003 and from 1 April 2004 took over the operations of the unincorporated charity bearing the same name. The company was established under a Memorandum and Articles of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. On 5 April 2022 the charity changed its’ name to Bolton Community Furniture Store Limited.
Organisational structure
The charity is managed by an unpaid management committee, consisting of the charity's trustees, meeting 6 or more times a year with the general manager.
Recruitment and appointment of trustees
Trustees are already familiar with the practical work of the charity. All are currently members of the management committee and are selected by members of that committee.
Trustee induction and training
New trustees are offered appropriate induction involving short training sessions, both to familiarise themselves fully with the work of the charity, and to ensure they are kept abreast of developments relevant to the charity in the voluntary sector.
Related parties
The charity works closely with both statutory organisations and voluntary organisations which can assist the charity in fulfilling its objects.
Risk management
The management committee conducts an annual review of the major risks to which the charity is exposed and risks are reviewed by the trustees on a regular basis. Where appropriate, systems and procedures have been established to mitigate the risk that the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the charity.
Page | 2
Bolton Community Furniture Store Limited
Trustees’ Annual Report
Year ended 31 March 2023
Objectives and activities
The charity's principal objects are to assist in the relief of poverty, sickness and distress, the preservation of health and any other charitable purposes, by collecting reusable household goods which would otherwise go to waste and providing such items for the benefit of the communities in the UK, in particularly, but not exclusively, those in Greater Manchester.
Our operations aim to benefit the community by providing low-cost furniture, white goods and paint. In addition, on referral by the appropriate agencies e.g. Social Services & Housing Associations, the charity offers a free furniture service for those individuals and families within the community experiencing financial hardship or for those without any visible means of support.
The local community is encouraged to donate furniture suitable for re-use and distribution to those in need by a variety of measures. Donated furniture is available for viewing and selection at the BCFS warehouse on Lecturers Close, Bolton. Selected furniture and white goods are delivered, and can be fitted, at economic cost and the service is operated with two vans and a mix of paid and volunteer drivers, van crew and warehouse staff.
Public benefit statement
Our aim is to provide assistance in the relief of poverty, sickness and distress, the preservation of health and any other charitable purposes by collecting reusable household goods which would otherwise go to waste and providing such items for the benefit of the communities in the UK, in particularly, but not exclusively, those in Greater Manchester. The Trustees have had regard to Charity Commission guidance on public benefit.
Achievements and performance
Furniture - BCFS collected and delivered around 5,897 items furniture to 2,299 homes in Bolton. The charity helped around 44 families with its free service providing 180 items of furniture. Its carbon footprint was reduced by 108744kg of delivered items that were saved from going to landfill waste.
The Charity also provided 70 items of brand-new furniture and electrical goods to 243 individuals and families in 70 households free of charge through funding it received. The majority of the total furniture sales were to families and individuals living in wards that are within the top deprived areas.
Paint - BCFS is part of the Community Repaint Scheme and re used 1,626.09 litres of paint. Its carbon footprint saved 4,390.28kg from going to landfill waste.
LDA (large domestic appliances) - BCFS refurbished 46 washing machines, 19 cookers and 20 dryers which were delivered to 85 homes in Bolton. Its carbon footprint was reduced by 4,713.6kg saving items from going to landfill waste.
Training - BCFS enabled volunteering experience for 5 individuals totalling 1,352 hours.
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Bolton Community Furniture Store Limited
Trustees’ Annual Report
Year ended 31 March 2023
Financial review
The principal source of funding is "internal generation". A small amount of funding has additionally come from the discretionary grants from Bolton Council and the Bolton Fund.
Income for the year was £373,650 (2022 £333,826). Net incoming resources were £41,200 (2022 £36,271). Free reserves as at 31 March 2023 were £171,845 (2022 £128,106).
Investment policy
Aside from retaining a prudent amount in reserves each year, all the charity's funds are spent in the short term for the maintenance and development of the charity. No investments have been made.
Reserves policy
The charity's reserves policy includes sufficient free reserves to cover an average of six months management and administrative expenditure, together with enough to cover potential redundancy liabilities should unexpectedly the charity have to cease operations.
Plans for future periods
The charity will continue to develop its furniture services, providing people in need with low-cost, high-quality household items while helping to protect the environment through its recycling activities.
Trustees' responsibilities statement
The trustees (who are also the directors of Bolton Community Furniture Store Limited for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees 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 trustees 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 the income and expenditure of the company for that period.
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 accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
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Bolton Community Furniture Store Limited
Trustees’ Annual Report
Year ended 31 March 2023
The trustees 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.
The accounts have been prepared having taken advantage of the small companies exemption in the Companies Act 2006.
Signed on behalf of the trustees
Jeanne Marie Kelly
Trustee
18/07/2023 Approved on ……………………
Page | 5
Bolton Community Furniture Store Limited
Independent Examiners Report to the Trustees
Year ended 31 March 2023
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2023 which are set out on pages 7 to 16.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants England and Wales, which is one of the listed bodies
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nicola Mason ACA DChA
MHA Moore and Smalley 9 Winckley Square Preston PR1 3HP
20/07/2023
………………………………..
Page | 6
Bolton Community Furniture Store Limited
Statement of Financial Activities (incorporating the income and expenditure accounts)
Year ended 31 March 2023
| Note Income Donations and legacies 2 Investments 3 Other income 4 Charitable activities 5 Total income Expenditure Charitable activities 6 Total expenditure Net income/(expenditure) before transfers 8 Transfer between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted Funds £ 14,645 138 1,579 357,288 373,650 (332,450) (332,450) 41,200 - 41,200 137,969 179,169 |
Restricted Funds £ - - - - - - - - - - - - |
Total Funds 2023 £ 14,645 138 1,579 357,288 373,650 (332,450) (332,450) 41,200 - 41,200 137,969 179,169 |
Total Funds 2022 £ 12,130 2 9,689 312,005 |
|---|---|---|---|---|
| 333,826 (297,555) |
||||
| (297,555) | ||||
| 36,271 - |
||||
| 36,271 101,698 |
||||
| 137,969 |
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
Page | 7
Bolton Community Furniture Store Limited
Balance Sheet
As at 31 March 2023
| Note Fixed assets Tangible assets 10 Current assets Stocks 11 Debtors 12 Cash at bank Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets Funds Unrestricted income funds 16 Total funds |
£ 22,327 14,481 148,813 185,621 (13,776) |
2023 £ 7,324 171,845 179,169 179,169 179,169 179,169 |
2022 £ 9,863 8,066 32,800 101,839 |
||
|---|---|---|---|---|---|
| 142,705 (14,599) |
|||||
| 128,106 | |||||
| 137,969 | |||||
| 137,969 | |||||
| 137,969 | |||||
| 137,969 |
For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the members of the committee and authorised for issue on…………. and are signed on their behalf by: 18/07/2023
Jeanne Marie Kelly (Chairman) Trustee
Company Registration Number: 04840851
Page | 8
Bolton Community Furniture Store Limited
Notes to the Financial Statements
Year ended 31 March 2023
1 Accounting policies
General information and basis of preparation
Bolton Community Furniture Store Limited is a private company limited by guarantee, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.
The financial statements have been prepared in accordance with 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 Ireland (FRS102) issued on October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice.
Bolton Community Furniture Store Limited meets the definition of a public benefit entity under FRS 102.
The financial statements are presented in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Preparation of the accounts on a going concern basis
The trustees are required to assess whether the use of going concern is appropriate, i.e whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable company to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation of the accounts. The Trustees consider that they have sufficient funds to meet liabilities as they fall due. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Donations
Voluntary income is received by way of donations and gifts and is included in full in the statement of financial activities when received.
Grants
Revenue grants are shown in the statement of financial activities in the year in which they are received, or receivable, unless they relate to a specified future period in which case they are deferred.
Grants for the purchase of fixed assets are credited to restricted incoming resources when receivable. Depreciation on the fixed assets purchased with such grants is charged against the restricted fund.
Fund accounting
Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is allocated against the fund, together with a fair allocation of management and support costs.
Unrestricted funds are donations and other income received or generated for the charitable activities of the organisation.
Designated funds are unrestricted funds earmarked by the management committee for particular purposes.
Page | 9
Bolton Community Furniture Store Limited
Notes to the Financial Statements
Year ended 31 March 2023
1 Accounting policies (continued)
Resources expended
Charitable expenditure comprises those costs incurred by the charity 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 charity and include the audit fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
Fixed assets
Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £100 are not capitalised.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Equipment - 25% reducing balance Vehicles - 25% reducing balance
Stocks
Stock is valued at the lower of cost and realisable value and therefore donated items are not included within the year end stock.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the scheme are charged in the period to which they relate.
Critical accounting estimates and assumptions
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Critical areas of judgement
There are no other critical areas of judgement.
Page | 10
Bolton Community Furniture Store Limited
Notes to the Financial Statements
Year ended 31 March 2023
2 Donations and legacies
| Donations and legacies | ||||
|---|---|---|---|---|
| Small donations Other grants |
Unrestricted Funds £ 4,645 10,000 14,645 |
Restricted Funds £ - - - |
Total Funds 2023 £ 4,645 10,000 14,645 |
Total Funds 2022 £ 2,130 10,000 |
| 12,130 |
All donation and legacies in the prior year related to unrestricted funds.
3 Investment income
| **Unrestricted ** | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2023 | 2022 | |
| £ | £ | £ | |
| Bank interest receivable | 138 | 138 | - |
Investment income in the prior year related to unrestricted funds.
4 Other income
| Other income | ||||
|---|---|---|---|---|
| Contribution to operating costs Coronavirus job retention scheme grant |
Unrestricted Funds 1,579 - 1,579 |
Restricted Funds £ - - - |
Total Funds 2023 £ 1,579 - 1,579 |
Total Funds 2022 £ - 9,689 |
| 9,689 |
Other income in the prior year related to unrestricted funds.
5 Charitable activities
| Furniture collections Furniture sales |
Unrestricted Funds £ 113,165 244,123 357,288 |
Total Funds 2023 £ 113,165 244,123 357,288 |
Total Funds 2022 £ 91,406 220,599 |
|---|---|---|---|
| 312,005 |
Income from charitable activities in the prior year related to unrestricted funds.
Page | 11
Bolton Community Furniture Store Limited
Notes to the Financial Statements
Year ended 31 March 2023
6 Cost of charitable activities
| Purchases Wages and salaries Pension costs Employers NIC Rent, rates and water Repairs and renewals Insurance Vehicle costs Telephone, fax and email Depreciation Volunteers’ expenses Postage, stationery, and publications Advertising and fundraising Holiday and excursion expenses Sundry expenses Finance charges and interest Governance costs 7 |
Unrestricted Funds £ 70,692 124,082 2,626 1,654 77,215 5,228 3,767 13,318 1,379 2,540 1,918 1,234 351 20 2,250 3,597 20,579 332,450 |
Restricted Funds £ - - - - - - - - - - - - - - - - - - |
Total Funds 2023 £ 70,692 124,082 2,626 1,654 77,215 5,228 3,767 13,318 1,379 2,540 1,918 1,234 351 20 2,250 3,597 20,579 332,450 |
Total Funds 2022 £ 39,821 134,252 2,676 3,779 62,090 5,664 4,010 12,941 2,470 3,326 2,376 96 1,048 32 1,730 2,562 18,682 |
|---|---|---|---|---|
| 297,555 |
All expenses have been allocated directly, apart from staff costs which have been based on staff time and telephone/postage and stationery, which have been based on usage.
| Prior year Purchases. Wages and salaries Pension costs Employers NIC Rent, rates and water Repairs and renewals Insurance Vehicle costs Telephone, fax and email Depreciation Volunteers expenses Postage, stationery and publications Advertising and fundraising Holiday and excursion expenses Sundry expenses Finance charges and interest Governance costs 7 |
Unrestricted Funds £ 39,821 134,252 2,676 3,779 62,090 5,664 4,010 12,941 2,470 3,326 2,376 96 1,048 32 1,730 2,562 18,682 297,555 |
Restricted Funds £ - - - - - - - - - - - - - - - - - - |
Total Funds 2022 £ 39,821 134,252 2,676 3,779 62,090 5,664 4,010 12,941 2,470 3,326 2,376 96 1,048 32 1,730 2,562 18,682 297,555 |
Total Funds 2021 £ 19,855 140,401 2,832 6,460 80,007 4,425 3,652 14,540 1,880 4,306 350 137 356 21 2,774 1,085 25,190 |
|---|---|---|---|---|
| 308,271 |
Page | 12
Bolton Community Furniture Store Limited
Notes to the Financial Statements
Year ended 31 March 2023
| Year ended 31 March 2023 | |||
|---|---|---|---|
| 7 Governance costs Unrestricted Funds £ Salaries and wages 13,325 Employer's NIC 1,495 Accountancy fees 5,401 Legal fees 358 20,579 8 Netincoming resources/(resources expended) for theyear Depreciation 9 Staff costs and emoluments Total staff costs were as follows Wages and salaries Pension costs Social security costs Particulars of employees: The average number of employees during the year was as follows Number of staff |
Total Funds 2023 £ 13,325 1,495 5,401 358 20,579 2023 £ 2,540 2023 £ 137,407 2,626 3,148 143,181 2023 No 9 |
2022 £ 11,639 1,260 5,783 - 18,682 2022 £ 3,326 |
|
| 2023 £ 2,540 2023 £ 137,407 2,626 3,148 143,181 2023 No 9 |
|||
| 2022 £ 145,713 2,676 5,217 |
|||
| 153,606 | |||
| 2022 No 9 |
No employee received remuneration of more than £60,000 during the year (2021 – none).
Remuneration of Key Management Personnel was £45,476.
Trustees remuneration
The trustees received no remuneration during the year. Trustees were reimbursed expenses in respect of duties incurred as a trustee amounting to £nil (2021: £nil).
The cost of insurance to indemnify the trustees against the consequence of any neglect or default on their part amounted to £219 (2022: £234).
Page | 13
Bolton Community Furniture Store Limited
Notes to the Financial Statements
Year ended 31 March 2023
10 Tangible fixed assets
| 10 Tangible fixed assets |
||||
|---|---|---|---|---|
| Cost At 1 April 2022 Additions Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for the year Eliminated on disposal At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 11 Stocks Stock 12 Debtors Trade debtors Other debtors Prepayments |
Equipment £ 45,113 - - 45,113 43,976 358 - 44,334 780 1,137 |
Motor Vehicles £ 40,500 - - 40,500 31,774 2,182 - 33,956 6,544 8,726 2023 £ 22,327 2023 £ 12,528 669 1,284 14,481 |
Total £ 85,613 - - 85,613 75,750 2,540 - 78,290 7,324 9,863 2022 £ 8,066 |
|
| 2022 £ 14,523 669 17,608 |
||||
| 32,800 |
Page | 14
Bolton Community Furniture Store Limited
Notes to the Financial Statements
Year ended 31 March 2023
13 Creditors: Amounts falling due within one year
| Creditors: Amounts falling due within one year | ||
|---|---|---|
| Trade creditors Taxation and social security Income received in advance Other creditors Accruals |
2023 £ 2,613 7,402 626 456 2,679 13,776 |
2022 £ 2,880 2,821 5,705 493 2,700 |
| 14,599 |
14 Commitments under operating leases
The company had outstanding commitments in respect of operating leases at 31 March 2023 of £368,050 (2022 - £59,600).
| <1 year 2-5 years |
2023 £ 73,610 294,440 368,050 |
2022 £ 59,600 - |
|---|---|---|
| 59,600 |
15 Unrestricted income funds
| Balance at | Incoming | Outgoing | Transfers | Balance at | ||
|---|---|---|---|---|---|---|
| 1Apr 2022 | resources | resources | 31 Mar 2023 | |||
| General funds | 137,969 | 373,650 | (332,450) | - | 179,169 |
Page | 15
Bolton Community Furniture Store Limited
Notes to the Financial Statements
Year ended 31 March 2023
| 16 Analysis of net assets between funds 2023 Tangible fixed assets £ Restricted Income Funds - Unrestricted Income Funds 7,324 Total Funds 7,324 2022 Tangible fixed assets £ Restricted Income Funds - Unrestricted Income Funds 9,863 Total Funds 9,863 - |
16 Analysis of net assets between funds 2023 Tangible fixed assets £ Restricted Income Funds - Unrestricted Income Funds 7,324 Total Funds 7,324 2022 Tangible fixed assets £ Restricted Income Funds - Unrestricted Income Funds 9,863 Total Funds 9,863 - |
16 Analysis of net assets between funds 2023 Tangible fixed assets £ Restricted Income Funds - Unrestricted Income Funds 7,324 Total Funds 7,324 2022 Tangible fixed assets £ Restricted Income Funds - Unrestricted Income Funds 9,863 Total Funds 9,863 - |
Net current assets £ - 171,845 |
Long term creditors £ - - |
Total £ - 179,169 |
|---|---|---|---|---|---|
| 7,324 | 171,845 | - | 179,169 | ||
| Tangible fixed assets £ - 9,863 9,863 - |
Net current assets £ - 128,106 128,106 - |
Long term creditors £ - - - - |
Total £ - 137,969 137,969 - |
17 Related party transactions
There were no related party transactions in the year.
18 Company limited by guarantee
The company is limited by guarantee, governed by its Articles and Memorandum and Association.
Page | 16
Company number: 04840851 Place of incorporation: England & Wales
Registered office address: Bolton Community Transport and Furniture Services Unit A1 Lecturers Close Bolton Lancashire BL3 6DG
MHA Moore and Smalley Richard House 9 Winckley Square Preston PR1 3HP
Dear Sirs
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charity’s financial statements for the year ended 31 March 2023. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.
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1 We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK and Ireland) and that you do not express an audit opinion.
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2 We confirm that the charity was entitled to exemption under section 144 of the Charities Act 2011 the requirement to have its financial statements for the financial year ended 31 March 2021 audited.
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3 We have fulfilled our responsibilities as directors / trustees as set out in the terms of your engagement letter under the Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.
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4 All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records.
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5 All the accounting records have been made available to you for the purpose of your independent examination. We have provided you with unrestricted access to all appropriate persons within the charity, and with all other records and related information requested, including minutes of all management and trustee meetings and correspondence with The Charity Commission.
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6 The financial statements are free of material misstatements, including omissions.
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7 The effects of uncorrected misstatements (as set out in the appendix to this letter) are immaterial both individually and in total.
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8 The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.
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9 All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate.
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10 We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements.
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11 The methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework.
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12 We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements.
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13 We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.
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14 Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements
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15 All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.
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16 We believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements.
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17 All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.
Yours faithfully
………………………………………… Jeanne Marie Kelly – Chair
On behalf of the board of trustees
Date 18/07/2023
…………………………………