REGISTERED COMPANY NUMBER: 04961783 REGISTERED CHARITY NUMBER: 1102969
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st March 2023
for
VIKING CENTRE & YOUTH CLUB LIMITED
Haines Watts Wirral Limited
1 Abbots Quay Monks Ferry Birkenhead Merseyside CH41 5LH
VIKING CENTRE & YOUTH CLUB LIMITED
Contents of the Financial Statements for the year ended 31st March 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 to 8 |
| Notes to the Financial Statements | 9 to 13 |
| Detailed Statement of Financial Activities | 14 |
VIKING CENTRE & YOUTH CLUB LIMITED
Report of the Trustees for the year ended 31st March 2023
Introduction
The Directors/Trustees present their annual report and financial statements for the year ended 31 March 2023.
Constitution
The Charity is a company limited by guarantee, incorporated 12 November 2003 and has adopted the Charity Commission Model Memorandum and Articles of Association for a Charitable Company ( GD1). As a company limited by guarantee the Charity has no shareholders. Each member has undertaken, in the event of dissolution to contribute a sum not exceeding £10 towards any debts and liabilities of the Charity incurred before that member ceased to be a Member.
The Directors/Trustees have approved two classes of membership. Full voting membership which may be either individual or corporate (the latter by nomination of an individual by an organisation), and Associate non-voting membership which may be either individual or corporate (the latter by nomination of an individual by an organisation). At present there is no intention to appoint additional members other than the Directors.
The names of the Directors/Trustees, all of whom are full voting members, are shown on page 1. One third by number of Directors/Trustees retire at Annual General Meeting by rotation.
Management
The direction and control of the Charity is determined by the Board of Directors.
Board meetings were held at regular intervals during the year.
The Directors would be pleased to hear from any individuals or organisations who would like to take an active interest in the work of the Charity.
Objectives
These are to provide social and recreational facilities to the local community and to help and educate young people in Wirral through their leisure time activities so to develop their physical, mental and spiritual capabilities that they may grow to full maturity as individuals and as members of society and that their condition of life may be improved.
Achievements
The Vikes has continued to support the Rock Ferry and wider Wirral community throughout the year by delivering and facilitating a range of community projects. Working alongside Wirral VCFSE and sports club organisations to provide safe, nurturing and engaging facilities for local young people and their families. Our commitment to improving our facilities has continued with a brand-new modern kitchen to allow us and partner organisations to deliver group cooking programmes. We have also increased our security with new high panel fencing ensuring that our facilities and external areas are safe. Our trustees have continued to be committed to the upkeep of the building and seeking new opportunities were appropriate to ensure that the long-term sustainability of The Vikes is prioritised alongside supporting local vulnerable and disadvantaged young people and their families. We are extremely proud of The Vikes and are looking forward to continuing its growth of activities and partnerships formed with community organisations and residents.
Page 1
VIKING CENTRE & YOUTH CLUB LIMITED
Report of the Trustees for the year ended 31st March 2023
Review of significant events, activities and public benefit.
Community Groups
The Viking Centre and Youth Club is continuing to develop the Rock Ferry facilities for use as a Community Centre, this allows us to sustain meeting our objectives long term by providing excellent facilities for our community to utilise. The Centre has a number of regular tenants who currently make the centre sustainable moving forward. These include: Utopia Project CIC, MW CIC and Royal Onyx.
Social Media
Viking Centre and Youth Club has its own web site - www.thevikes.co.uk - and its own Facebook page for all to visit and be kept informed of the latest news and developments.
Grant Aided Projects
Viking Centre and Youth Club is entirely run by volunteer trustees, due to this we apply for a limited number of funds each year to ensure that we meet our Charity Objectives and continue to deliver projects that our community have asked for. We have been successful in securing funding to renovate our first-floor kitchen to deliver group cooking sessions thanks to Veola, group cooking sessions for young people thanks to Big Lottery and a youth personal development programme thanks to an extremely generous local business owner.
Donations
The Trustees are most grateful for the continuing financial support provided by a small number of local donors who make regular donations and to those charitable trusts who have supported the Charity.
Public Benefit
We have continued to increase the number of community groups who have access to our centre to contribute to our charitable purpose and have committed volunteer trustee time to plan, apply, deliver and review grant funded projects in order to provide opportunities for our community to grow as set out in our objects. Trustees have complied within their duty to ensure that the activities carried out through the year meet our charitable purpose and is aligned with the commission's public benefit guidance.
Risk assessment
In addition to their responsibilities for Health and Safety and other corporate governance issues, the Board review, on a regular basis, the major risks which the Charity faces and believe that they have established suitable systems to mitigate significant risks.
Financial review
At 31 March 2016, the Charity Trustees reviewed the carrying value of Fixed Assets in the light of the potential closure of the Youth Club and the Centre and decided to take an impairment charge into the 2016 Financial Statements to reduce the values of Freehold Land and Buildings to zero, as these are subject to a restrictive usage covenant from Wirral Council, and to reduce the value of restricted fixed assets to £2000, being an estimate of the distressed sale value of Equipment. These adjustments gave rise to an exceptional reduction in charity reserves as stated in the 2016 Financial Statements.
Restricted funds - In the year ended 31 March 2023 the Charity held £5380 in restricted funds, from The Lottery community fund for our group cooking sessions project.
Page 2
VIKING CENTRE & YOUTH CLUB LIMITED
Report of the Trustees for the year ended 31st March 2023
Unrestricted funds – In the year ending 31 March 2023 the Charity had a decrease in unrestricted funding. This was mainly due to additional costs incurred beyond the funding for the kitchen building work. The Charity continues to improve income for unrestricted funding through the hire of our facilities to other voluntary or community organisations to meet our core costs of running The Viking Centre. Trustees agreed that up to 20% of the unrestricted bank funds held would be used for the continuous refurbishment of The Viking Centre to attract further voluntary and community groups to use our facilities, improve our sustainability and support in meeting our objectives. All other unrestricted funds held are to cover costs in the event the Charity closure or in the event of a significant reduction in grants, rental income or donations received.
The Trustees are happy with the financial position of the charity in the year ending 31 March 2023 with the continued ability for the charity to retain a healthy level of reserves. This has proven to be sustainable through rental hire of our centre using community rates that are far lower than other facilities across the borough and the ability to continue to gain small amounts of grant funding that contributes towards core costs. It is also worth noting that trustees are diligent in ensuring that costs are reviewed to maintain an achievable yearly budget.
The Viking Centre & Youth Club Limited will continue to operate on a going concern basis and will continue its operations for the foreseeable future with no particular uncertainties outlined in the forecast.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Chairman - Daniel P Cooke Director of Finance and Company Secretary - Chris J. Black Patron - Rt. Hon. Frank Field MP, DL
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04961783 (Not specified/Other)
Registered Charity number
1102969
Registered office
The Vikes 40 Thorsway Rock Ferry Merseyside CH42 1NW
Trustees
C J Black Education ( Teacher ) D P Cooke Teacher Mrs R Mccoosh Company Director P J Murray Education A Byrne
Independent Examiner
Haines Watts Wirral Limited 1 Abbots Quay Monks Ferry Birkenhead Merseyside CH41 5LH
Page 3
VIKING CENTRE & YOUTH CLUB LIMITED
Report of the Trustees for the year ended 31st March 2023
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... D P Cooke - Trustee
Page 4
Independent Examiner's Report to the Trustees of Viking Centre & Youth Club Limited
Independent examiner's report to the trustees of Viking Centre & Youth Club Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
Vikki Wynne FCCA
Haines Watts Wirral Limited 1 Abbots Quay Monks Ferry Birkenhead Merseyside CH41 5LH
Date: .............................................
Page 5
VIKING CENTRE & YOUTH CLUB LIMITED
Statement of Financial Activities for the year ended 31st March 2023
| Unrestricted Restricted funds funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 11,636 - Charitable activities Charitable activities 18,706 5,380 Total 30,342 5,380 EXPENDITURE ON Charitable activities Charitable activities 38,942 - NET INCOME/(EXPENDITURE) (8,600) 5,380 RECONCILIATION OF FUNDS Total funds brought forward 25,920 - TOTAL FUNDS CARRIED FORWARD 17,320 5,380 |
2023 Total funds £ 11,636 24,086 35,722 38,942 (3,220) 25,920 22,700 |
2022 Total funds £ 1,182 34,170 35,352 28,298 7,054 18,866 25,920 |
|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 6
VIKING CENTRE & YOUTH CLUB LIMITED
Balance Sheet 31st March 2023
| Unrestricted Restricted funds funds Notes £ £ FIXED ASSETS Tangible assets 5 18,819 - CURRENT ASSETS Debtors 6 850 - Cash at bank 10,771 5,380 11,621 5,380 CREDITORS Amounts falling due within one year 7 (13,120) - NET CURRENT ASSETS (1,499) 5,380 TOTAL ASSETS LESS CURRENT LIABILITIES 17,320 5,380 NET ASSETS 17,320 5,380 FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
2023 Total funds £ 18,819 850 16,151 17,001 (13,120) 3,881 22,700 22,700 17,320 5,380 22,700 |
2022 Total funds £ 1,295 834 25,689 26,523 (1,898) 24,625 25,920 25,920 25,920 - 25,920 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
VIKING CENTRE & YOUTH CLUB LIMITED
Balance Sheet - continued 31st March 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. D P Cooke - Trustee
The notes form part of these financial statements
Page 8
VIKING CENTRE & YOUTH CLUB LIMITED
Notes to the Financial Statements for the year ended 31st March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 9
VIKING CENTRE & YOUTH CLUB LIMITED
Notes to the Financial Statements - continued for the year ended 31st March 2023
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
----- Start of picture text -----
||||
|---|---|---|
|2023|2022|
|£|£|
|Depreciation - owned assets|4,786|432|
----- End of picture text -----
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.
4. STAFF COSTS
----- Start of picture text -----
||||
|---|---|---|
|2023|2022|
|£|£|
|Wages and salaries|2,295|3,201|
|2,295|3,201|
----- End of picture text -----
The average monthly number of employees during the year was as follows:
----- Start of picture text -----
||||
|---|---|---|
|2023|2022|
|Employees|5|5|
----- End of picture text -----
No employees received emoluments in excess of £60,000.
continued...
Page 10
VIKING CENTRE & YOUTH CLUB LIMITED
Notes to the Financial Statements - continued for the year ended 31st March 2023
5. TANGIBLE FIXED ASSETS
| Improvements | Fixtures | ||||
|---|---|---|---|---|---|
| to | and | Computer | |||
| property | fittings | equipment | Totals | ||
| £ | £ | £ | £ | ||
| COST | |||||
| At 1st April 2022 | - | 1,435 | 2,292 | 3,727 | |
| Additions | 22,310 | - | - | 22,310 | |
| At 31st March 2023 | 22,310 | 1,435 | 2,292 | 26,037 | |
| DEPRECIATION | |||||
| At 1st April 2022 | - | 359 | 2,073 | 2,432 | |
| Charge for year | 4,462 | 269 | 55 | 4,786 | |
| At 31st March 2023 | 4,462 | 628 | 2,128 | 7,218 | |
| NET BOOK VALUE | |||||
| At 31st March 2023 | 17,848 | 807 | 164 | 18,819 | |
| At 31st March 2022 | - | 1,076 | 219 | 1,295 | |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| Trade debtors | 2023 £ 60 |
2022 £ 140 |
|||
| Prepayments | 790 | 694 | |||
| 850 | 834 | ||||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| Deferred income | 2023 £ 11,213 |
2022 £ - |
|||
| Accrued expenses | 1,907 | 1,898 | |||
| 13,120 | 1,898 | ||||
| 8. | MOVEMENT IN FUNDS | ||||
| Unrestricted funds | At 1.4.22 £ |
Net movement in funds £ |
At 31.3.23 £ |
||
| General fund | 25,920 | (8,600) | 17,320 | ||
| Restricted funds | |||||
| General Fund | - | 5,380 | 5,380 | ||
| TOTAL FUNDS | 25,920 | (3,220) | 22,700 | ||
continued...
Page 11
VIKING CENTRE & YOUTH CLUB LIMITED
Notes to the Financial Statements - continued for the year ended 31st March 2023
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 30,342 | (38,942) | (8,600) |
| Restricted funds | |||
| General Fund | 5,380 | - | 5,380 |
| TOTAL FUNDS | 35,722 | (38,942) | (3,220) |
| Comparatives for movement in funds | |||
| Unrestricted funds | At 1.4.21 £ |
Net movement in funds £ |
At 31.3.22 £ |
| General fund | 18,866 | 7,054 | 25,920 |
| TOTAL FUNDS | 18,866 | 7,054 | 25,920 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 35,352 | (28,298) | 7,054 |
| TOTAL FUNDS | 35,352 | (28,298) | 7,054 |
continued...
Page 12
VIKING CENTRE & YOUTH CLUB LIMITED
Notes to the Financial Statements - continued for the year ended 31st March 2023
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1.4.21 | in funds | 31.3.23 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 18,866 | (1,546) | 17,320 | ||
| Restricted funds | |||||
| General Fund | - | 5,380 | 5,380 | ||
| TOTAL FUNDS | 18,866 | 3,834 | 22,700 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources Movement resources expended in funds £ £ £ |
|---|---|
| General fund | 65,694 (67,240) (1,546) |
| Restricted funds | |
| General Fund | 5,380 - 5,380 |
| TOTAL FUNDS | 71,074 (67,240) 3,834 |
9. RELATED PARTY DISCLOSURES
During the year, the charity commissioned Utopia for the delivery of the Lottery funded Family Fitness work (totalling £5,472). Three of The Viking trustees are also trustees of Utopia Project CIC.
10. DEFERRED INCOME
Deferred income relates to a grant received for the fitting of a new kitchen in the period ended 31 March 2023. This is being depreciated over 5 years, therefore the grant is being allocated over 5 years too.
Page 13
VIKING CENTRE & YOUTH CLUB LIMITED
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the year ended 31st March 2023 | |||
| 2023 | 2022 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Donations | 11,636 | 1,182 | |
| Charitable activities | |||
| Room Hire & Rent | 6,793 | 7,900 | |
| Grants | 17,293 | 26,270 | |
| 24,086 | 34,170 | ||
| Total incoming resources | 35,722 | 35,352 | |
| EXPENDITURE | |||
| Charitable activities | |||
| Subcontract Youth Workers | 2,295 | 3,201 | |
| Rates and water | 8,276 | 5,115 | |
| Insurance | 1,360 | 1,381 | |
| Telephone | 725 | 652 | |
| Cleaning | 5,883 | 6,029 | |
| Sundries | 976 | 1,308 | |
| Activities | 7,103 | - | |
| Depreciation of tangible fixed assets | 4,786 | 432 | |
| Support costs | 31,404 | 18,118 | |
| Management | |||
| Advertising | 63 | 256 | |
| Information technology | |||
| Repairs and renewals | 4,941 | 6,961 | |
| Governance costs | |||
| Accountancy and legal fees | 2,534 | 2,963 | |
| Total resources expended | 38,942 | 28,298 | |
| Net (expenditure)/income | (3,220) | 7,054 | |
This page does not form part of the statutory financial statements
Page 14