Company Registration Number - 04929060
The Charity Registration Number is :- 1106143
The Hearth Centre (Horsley) Ltd Report and Accounts
31 December 2022
The Hearth Centre (Horsley) Ltd
Report and accounts for the year ended 31 December 2022
Contents
| Page | |
|---|---|
| Trustees' Annual Report | 1-13 |
| Statement of directors' responsibilities | 12 |
| Independent Accountant's Report | 14-15 |
| Funds Statements:- | |
| Statement of Financial Activities | 16-17 |
| Movements in funds | 18 |
| Revenue Funds | 18 |
| Fixed Asset funds | 18 |
| Income and Expenditure account | 19 |
| Summary of funds | 17 |
| Balance sheet | 20 |
| Notes to the accounts | 21 |
The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
The Trustees present their Report and Accounts for the year ended 31 December 2022, which also comprises the Directors' Report required by the Companies Act 2006.
Reference and administrative details
The charity name.
The legal name of the charity is:- The Hearth Centre (Horsley) Ltd.
The charity is also known by its operating name, The Hearth.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1106143.
.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
The governing document is dated
10 October 2003
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals.
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
The principal operating address, telephone number, email and web addresses of the charity are:-
The Hearth Main Road, Horsley Northumberland, NE15 0NT Telephone 01661 852545 Email Address office@thehearth.co.uk Web address www.thehearth.co.uk
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
The Trustees in office on the date the report was approved were:-
| Stephen Duckworth - Chair | Appointed 04/03/2022 |
|---|---|
| Jennifer Millard | |
| Christopher Siddle - Treasurer | |
| Debbie Robertson | |
| Dale Robertson | |
| Julie Straw | |
| George Stoker |
The trustees who served as a trustee in the reporting period, and, if applicable, their dates of appointment or resignation during the year were:-.
| Name | Appointed | Resigned/Retired | |
|---|---|---|---|
| Stephen Duckworth - Chair | 04/03/2022 | ||
| Jennifer Millard | |||
| Christopher Siddle - Treasurer | |||
| Debbie Robertson | 14/02/2022 | ||
| Dale Robertson | 14/02/2022 | ||
| Julie Straw | |||
| George Stoker | 05/04/2022 | ||
| Jane Gibson | 07/10/2022 | ||
| Natalie Henderson | 27/03/2023 | ||
| Maurice Holliday | 14/02/2022 |
At the Annual General Meeting Julie Straw, Dale Rebertson and Debbie Robertson will retire as trustees by rotation but are eligible for re-election.
All trustees are also members of the charity.
COVID-19 statement
During 2022, the Hearth took steps to return to more face-to-face activities and increased use of our facilities by many of our regular participants and the café returned to full open operations. However we remained mindful of the need, where necessary, to maintain COVID related protocols as appropriate.
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
Total income for 2022 was £52,749 (2021: £46,568) which is a reflection of the increased level of activity that the Hearth was able to generate through the majority of the year as more normal operations returned. Expenditure was also increased in 2022 as we caught up on some projects that had been deferred for the last couple of years. Over the year we therefore had a surplus of £4,260 (2021: £405) which is a pleasing result.
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
The Hearth was set up as a project of Horsley Village Church and has the following objectives as revised and adopted 19 July 2004: -
-
To advance the Christian religion.
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To promote the benefit of the inhabitants of Horsley Village and surrounding areas, young persons, without distinction of sexual orientation, race, political, religious or other opinion by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to promote facilities in the interests of social welfare for recreation and other leisure-time occupations with the object of improving the conditions of life for the said inhabitants.
The charity is managed by the Trustees who take due regard to the Charity Commissioners' guidance on public benefit and ensure that the charity meets its objectives and provides public benefits through regular free events, the provision of low rent studios and display space for creative artists, and a commercially run café open to the public. The building complex is Grade II listed and is open to the public seven days a week. There is also a meeting hall available at modest charge to the local community for holding workshops, exhibitions, performances, talks, mother and toddler groups, keep fit and other activities. Some of these activities are run by the charity itself, others by individuals and local organisations.
The Hearth operates as a hub for arts, music, heritage and hospitality, working together with Horsley Village Church for the benefit of the community. Visitors can participate in a wide range of creative activities for adults and children. New art work is always on display by resident artists and studios are open to the public.
In addition to events organised by with the artists, such as Art Fairs, the charity directly organises a broad programme of performing arts, a heritage programme of talks, creative workshops and encouragement for local organisations and individuals to meet and use the facilities on offer.
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
The main activities undertaken in relation to those purposes during the year.
Objectives at the outset of 2022 were to maintain fundraising activities, to extend the range of activities on offer at the Hearth Centre, to broaden the visitor base and to dynamically engage with the local community, with a particular emphasis on young people under 21 years of age and older people, particularly those negatively impacted by the isolation brought on through the impacts of the Covid emergency.
Throughout 2021, most of our physical engagement activities had to be put on hold during periods of lockdown and be greatly changed and reduced during the limited reopening phases. We also made use of digital engagement activities to enable us to continue connecting with our stakeholders even during periods of full lockdown.
However, during 2022 we were able to return to more face to face activities which was welcomed by many of the participants
The main activities undertaken during the year to further the charity's purpose for the public benefit.
Events
Throughout 2022 our Hall was open for in-person events and activities and we saw nearly 600 hours of Hall bookings for courses, workshops, clubs, events and local groups (2021: 500) throughout the year. These included several of our artists and trustees who were able to deliver workshops, pilates, yoga and the Wool Group all resumed after the enforced lockdown.
In November we held another event in collaboration with regional touring company 'Highlights', welcoming musician Edwina Hayes for an evening of entertainment. We have continued this relationship with 'Highlights' in 2023.
We held several Covid safe events for vulnerable, older members of the local community during the year working with a variety of crafting activities.
The Craft Team at the Hearth put together Craft boxes to go out free to those in need across our community. We worked with partner organisations on these, including West Northumberland Food Bank; No 28 Community Hub, Hexham; Miners Lamp, Prudhoe; West End Food Bank Newcastle upon Tyne; Age UK and Wylam Library.
We have also started a new relationship with the Co-op Local Community Fund Team.
Digital engagement
2022 also saw a continuing use of digital communications to promote our activities and we are grateful to: Rebecca, Vincent and our other artists; Centre coordinator, Ali Wilkes and Trustees Debbie Robertson and Jennifer Millard for all their hard work in developing our digital engagement through our Website and Social Media channels.
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
People
2022 saw the retirement of one of our longest-standing trustees and Chairperson, Jane Gibson. In addition Maurice Holliday, Avril Robinson and, in early 2023, Natalie Henderson, also resigned as Trustees. The Board would like to give heartfelt thanks to all of them for all the hard work they have put into supporting The Hearth over this time and we are very grateful that Natalie has continued to work with us in a voluntary capacity since her retirement.
Also, during 2022 our Board Secretary Emma Denham resigned. We are very grateful for the work she put in during her time with us.
The board continues its recruitment drive as there are still gaps to be filled and the Board always welcomes expressions of interest to join us.
Both our resident artists and the café continued to operate throughout 2022, welcoming visitors and locals alike.
The annual review of tenants' rents and service charges were put on hold for the year and will be revisited in 2023. Alan Holmes, retired fire officer, continued to assist with fire safety, inspections and reports.
Christine Holmes continued to attend Trustee meetings as the church committee representative.
Over 20 volunteers continued to provide invaluable support, technical and general, for music evenings, events and in support of our community craft sessions.
Public benefit
The Trustees have had regard to the Charities Commission's guidance on public benefit in managing the activities of the charity throughout the year.
Free access to view artists' studios is possible throughout the year when permitted.
The Hearth Café continued to grow its reputation and popularity, managing to remain open and producing their delicious offerings and hospitality throughout the year.
Whilst modest charges are made for our gigs these events provide considerable public benefit and were offered free of charge to the public when we moved to digital platforms.
2022 saw the continuation of our grant funded initiative 'Free for Young People' and its extension to providing activities for older people and those impacted negatively by Covid-19.
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
Buildings
We regularly make repairs and improvements to the fabric of our Grade II listed buildings in order to make The Hearth and its environment safer, more effective and more energy efficient.
Both contractors and volunteers are essential to the maintenance and good repair of buildings and grounds, and we are very grateful to them for their efforts and diligence.
Wherever possible it is our policy to use local craftsmen and contractors, ensuring that as much of the income of The Hearth is returned to benefit the local economy as possible.
After a robust tendering process we appointed a small firm of professional cleaners to enhance the environment and safety across the Hearth Centre.
We have continued to make improvements to the structure and appearance of the car park area, including new planting.
Environment
Our updated Environment Policy is now shared with all visiting exhibitors and facility users to encourage them to be as environmentally friendly in the delivery of their activities.
Our Centre coordinator has been working with our cleaners, Polish Maids, to make our cleaning consumables greener.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
The contribution of volunteers during the year.
Volunteer support continues to prove crucial to the provision of consistent and high-quality activities. The Trustees dedicate many hours of front line support and operate key roles in relation to fund -raising, grant applications, gigs, liaison with tenants, talks, gardening and buildings, and support for artists' events.
There are over 20 regular volunteers and an increasing pool of occasional volunteers drawn from Horsley Village Church, residents, tenants, former Trustees and friends and family of the Trustees.
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
Fundraising activities during the year.
The Board of Trustees are sincerely grateful to the following list of organisations who kindly made awards of grant funding to the Hearth in 2022, plus to those individuals who also made generous donations. Without such support we would be unable to continue to offer the broad range of activities available at the Hearth.
| Grant funding from: | |
|---|---|
| Community Foundation | £4,000 |
| Northumbria Police | £1,000 |
| Northumberland County Council | £500 |
| CO-OP | £3,347 |
| The Rothley Trust | £900 |
| Joicey Trust | £2,300 |
| Barchester Trust | £500 |
In addition to our grant-making trusts, the Board would also like to thank the National Lottery for their grant of £18,354 towards the building of our Creative Hub. This will allow for final tenders to be approved with the building construction work scheduled to commence in early 2023.
Our third Hearth Calendar (for 2023), showcasing beautiful colour images from our artists' work and our Café partners. Sales resulted in over £500 profit and the calendars will act as excellent publicity for the work of The Hearth and our artists throughout the next year.
The Board would like to give their particular thanks to our Artist tenants and Centre coordinator Ali Wilkes, for their inspired work on generating new fundraising opportunities for The Hearth, in particular the creation of our calendar.
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
Potential new trustees are identified by the Trustees, interviewed and if suitable are co-opted for the current year and offered for re-appointment by members at the following Annual General Meeting. We advertise and promote trustee vacancies at events such as Artists' Winter and Spring Fairs, in local press and through regional support networks.
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
The policies and procedures for the induction and training of trustees.
New applicants have an informal meeting with a serving trustee. This meeting outlines the formation of the charity, how The Hearth is structured, the Trustee Board and how it operates plus a tour of the site. The applicant is provided with Charity Commission guides on the role of trustees, the latest accounts and a copy of the latest Trustees' Annual Report.
The applicant is then allowed a period of reflection to consider their ability to commit to participate as a Trustee and how their background adds value to The Hearth.
If the applicant is still keen to participate, they join a Trustee Meeting. At the meeting they introduce themselves providing their background and how they feel they add value to The Hearth. Other trustees have the opportunity to ask questions and view the applicant's performance.
Once the Board of Trustees is comfortable with the applicant, and the applicant is keen to continue, they are invited to all forthcoming trustee meetings and co-opted to the board. The new trustee completes a statement of eligibility and their details are logged with the Charities Commission and Companies House. They are formally re-elected by vote at the following Annual General Meeting.
The charity's organisational structure and how decisions are made.
The charity is governed by a Board of Trustees. Trustees have specific roles, namely Chair, Secretary and Treasurer as well as Grant-seeking lead, Buildings and Energy lead, Performing Arts lead and so on. The scope and quality of Board Governance has further developed in 2022 as we continue to adhere to stricter procedural disciplines and develop strategic planning. The Board is accountable to the members of The Hearth Centre (Horsley) Limited in general meeting. At the end of 2022 there were 29 members (29 at end 2021).
Policy, operational and organisational decisions are made collectively by the Board of Trustees and minuted in the records of the Trustees monthly meetings. The Hearth's tenants, employees, volunteers, visitors, and Horsley Village Church members are consulted as and when appropriate. The Board met monthly during 2022 returning to face to face meetings in the summer of 2022. We also held a successful Strategy Away Day on the 4th March 2022 and repeated the exercise in 2023
The Hearth AGM was held in-person in October 2022, with a reassuring attendance of 13 Members.
The day to day administration of the charity is delegated to the Centre Coordinator by the charity Trustees.
In 2022: the Centre Coordinator was employed, based on 15 hours a week, with flexibility to work across the week.
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
The charity as a part of a wider network.
The Hearth maintains direct links with Horsley Village Church (HVC) and the Northern Synod of the United Reformed Church. 2022 has seen an ongoing review of the Head Lease and annual rent paid by The Hearth to HVC and the Northern Synod.
Informal links continue with other arts and cultural organisations within the region and Community Action Northumberland, a network of small charities and village halls in the county.
Resident artists have professional links with major arts initiatives, such as Northern Print, North East Art Collective and Network Artists in Northumberland.
The Hearth Charity maintains an ongoing relationship with Heddon on the Wall Primary school, working on various projects together.
The charity's relationships with related parties.
The charity maintains a close working relationship with Horsley Village Church and a member of the church committee regularly attends the Board of Trustee meetings.
Bankers Solicitors
Co-operative Bank, Delf House, South Way, Skelmersdale, WN8 6WT Muckle LLP, Time Central, 32 Gallowgate, Newcastle upon Tyne, NE1 4BF
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
Financial review
The charity's financial position at the end of the year ended 31 December 2022
The financial position of the charity at 31 December 2022 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Designated Fixed Asset Funds Total Unrestricted Funds Total Funds Unrestricted Revenue Funds available for the general purposes of the charity Net income |
2022 £ 4,260 5,282 911 6,193 6,193 |
2021 £ 405 |
|---|---|---|
| (599) 2,531 |
||
| 1,932 | ||
| 1,932 |
Financial review of the position at the reporting date, 31 December 2022 .
As stated in the introduction to this report, the Trustees consider the financial performance by the charity during the year to have been satisfactory.
Policies on reserves.
The Hearth has steady income with restricted opportunities to increase it and no financial investments. The current reserving policy is to build a balance of £10,000 as a contingency. The board has successfully eliminated the deficit on Revenue Accumulated Funds by creating net incoming resource operations and by transfers from Fixed Assets Funds as per policies noted in the financial statements
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
Investment policy and investment objectives.
We use a bank with ethical policies. We encourage the café tenants to source local products when possible. The café uses Fair Trade products.
Ethical considerations will prevail if surplus funds become available for investment.
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
The major risks to which the Charity is exposed and reviews and systems to mitigate them.
The Trustees have an increased awareness of the risk according to the Charity Commission guidance. The minimum statutory risk assessments have been maintained and reviewed by professionals. An increased awareness of governance risks has been achieved and a Trustee allocated to be responsible for this area. This has resulted in a plan to audit all risk assessment, policies and procedures established in 2012 in order to priorities any actions needed. The Charity Commission guide "Charities and Risk Management" formed the framework of the audit, appropriate changes were made and risks have been reviewed on a continuing basis. For example, The Hearth's Safeguarding Policy was reviewed and updated in line with the Charity Commissioner's revised guidelines in 2014. We have a trained First Aider and Fire Officer. The Trustees believe that appropriate insurance cover is in place for employer's liability, public liability, products liability, professional liability (Trustee Indemnity), events, building and contents.
Appropriate licences have been obtained for performing arts.
Principal funding sources in the year and how these support the key objectives of the charity.
The principal funding source for the charity continues to be the rental income from the studios, café, and the hall. This is supplemented by income from open weekends, performing arts and heritage programmes.
Plans For the Future
Summary of plans for the future and the trustees' perspective of the future direction of the charity.
The Trustees have pursued strategies to cover the short, medium and long-term.
Short term - maintain existing fundraising activity and seek grants for core costs.
Medium term - develop and deliver plans for enhancement to the visitor experience and introduce more radical fundraising methods.
Longer term - delivering ability to increase capacity for activity, retail space and interactive creative areas.
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
Details of The Independent Examiner
J R Mills FCCA
Member of the Association of Chartered Certified Accountants
B3 Kingfisher House Team Valley Gateshead Tyne & Wear NE11 0JQ
Statement of the Directors Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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The Hearth Centre (Horsley) Ltd
Company Registration Number - 04929060
Trustees' Annual Report for the year ended 31 December 2022
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
Method of preparation of accounts - Small company provisions
The financial statements are set out on pages 16 to 36.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 28 September 2023.
C Siddle Director and Trustee
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The Hearth Centre (Horsley) Ltd
Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 December 2022
I report to the Trustees on my examination of the financial statements of the charitable company on pages 16 to 36 for the year ended 31 December 2022 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 21.
Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report
As described on page 12, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent Examiner's Statement and scope of work undertaken
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
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The Hearth Centre (Horsley) Ltd
Independent Examiner's Statement, Report and Opinion
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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 financial statements to be reached.
Signed:-
J R Mills FCCA - Independent Examiner
the Association of Chartered Certified Accountants
B3 Kingfisher House Team Valley Gateshead Tyne & Wear NE11 0JQ
This report was signed on 29th September 2023
15
The Hearth Centre (Horsley) Ltd
Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 December 2022, as required by the Companies Act 2006)
| Current year Unrestricted Funds 2022 £ Income & Endowments from: Donations & Legacies A1 14,321 Charitable activities A2 36,270 Other trading activities A3 1,640 Other A5 518 Total income A 52,749 Expenditure on: Raising funds B1 489 Charitable activities B2 48,000 Total expenditure B 48,489 Net income for the year 4,260 Net income after transfers A-B-C 4,260 4,260 Reconciliation of funds:- E Total funds brought forward 1,932 Total funds carried forward 6,192 SORP Ref Net movement in funds |
Current year Restricted Funds 2022 £ - - - - - - - - - - - - - |
Current year Total Funds 2022 £ 14,321 36,270 1,640 518 52,749 489 48,000 48,489 4,260 4,260 4,260 1,932 6,192 |
Prior Year Total Funds 2021 £ 17,647 28,186 632 103 |
|---|---|---|---|
| 46,568 | |||
| 803 45,360 |
|||
| 46,163 | |||
| 405 | |||
| 405 | |||
| 405 1,527 |
|||
| 1,932 |
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet. A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required All activities derive from continuing operations
All activities derive from continuing operations
The notes attached on pages 21 to 36 form an integral part of these accounts.
16
The Hearth Centre (Horsley) Ltd
Statement of Financial Activities for the year ended 31 December 2022
| 2022 £ Funds generated in the year as detailed in the SOFA 4,260 Resources applied on functional fixed assets (8,455) Other applications of funds - Net resources available to fund charitable activities (4,195) Resources applied in the year ended 31 December 2022 towards fixed assets for Charity |
2021 £ 405 (6,849) - use:- |
|---|---|
| (6,444) |
The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.
The notes attached on pages 21 to 36 form an integral part of these accounts.
17
The Hearth Centre (Horsley) Ltd
Movements in revenue and capital funds for the year ended 31 December 2022
Revenue accumulated funds
| Unrestricted Restricted Funds Funds 2022 2022 £ £ Accumulated funds brought forward (599) - 4,260 - 3,661 - (From)/To unrestricted revenue funds 1,620 - Closing revenue funds 5,281 - Fixed asset funds Designated Restricted Funds Funds 2022 2022 £ £ At 1 January 2,531 - Transfer (to)/from revenue funds (1,620) - At 31 December 911 - Recognised gains and losses before transfers |
Total Funds 2022 £ (599) 4,260 3,661 1,620 5,281 Total Funds 2022 £ 2,531 (1,620) 911 |
Last year Total Funds 2021 £ (3,164) 405 |
|---|---|---|
| (2,759) 2,160 |
||
| (599) | ||
| Last year Total Funds 2021 £ 4,691 (2,160) |
||
| 2,531 |
The purposes of the transfers to fixed asset funds are described in Note 0 to the accounts and under the accounting policy 'Accounting for capital grants and fixed asset funds'.
| Summary of funds Unrestricted and Designated funds 2022 £ Revenue accumulated funds 5,281 Fixed asset funds 911 Total funds 6,192 |
Restricted Funds 2022 £ - - - |
Total Funds 2022 £ 5,281 911 6,192 |
Last Year Total Funds 2021 £ (599) 2,531 |
|---|---|---|---|
| 1,932 |
The notes attached on pages 21 to 36 form an integral part of these accounts.
18
The Hearth Centre (Horsley) Ltd
Income and Expenditure Account for the year ended 31 December 2022 as required by the Companies Act 2006
| Income Income from operations Other operating income Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Fundraising costs Governance costs Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year Investment income Realised losses on disposals of social investments which are programme related |
2022 £ 52,231 518 52,749 52,749 43,777 2,457 489 1,766 - 48,489 4,260 - 4,260 4,260 |
2021 £ 46,465 103 |
|---|---|---|
| 46,568 | ||
| 46,568 | ||
| 40,745 3,075 803 1,540 - |
||
| 46,163 | ||
| 405 - |
||
| 405 | ||
| 405 |
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 21 to 36 form an integral part of these accounts.
19
The Hearth Centre (Horsley) Ltd - Balance Sheet as at 31 December 2022
| Note SORP Ref Fixed assets A Tangible assets 11 A2 Current assets B Debtors 12 B2 Cash at bank and in hand B4 Total current assets Creditors: amounts falling due within one year 13 C1 Net current assets Creditors: amounts falling due after more than one year 14 C2 The total net assets of the charity Unrestricted funds Unrestricted Revenue Funds 18 D3 Designated Funds Designated Fixed Asset Funds 18 D3 Total charity funds The total net assets of the charity are funded by the Net assets |
2022 2021 £ £ 15,226 9,228 2,347 1,558 61,956 46,763 64,303 48,321 (45,812) (28,092) 18,491 20,229 33,717 29,457 (27,525) (27,525) 6,192 1,932 5,281 (599) 5,281 (599) 911 2,531 911 2,531 6,192 1,932 funds of the charity, as follows:- |
2022 2021 £ £ 15,226 9,228 2,347 1,558 61,956 46,763 64,303 48,321 (45,812) (28,092) 18,491 20,229 33,717 29,457 (27,525) (27,525) 6,192 1,932 5,281 (599) 5,281 (599) 911 2,531 911 2,531 6,192 1,932 funds of the charity, as follows:- |
2022 2021 £ £ 15,226 9,228 2,347 1,558 61,956 46,763 64,303 48,321 (45,812) (28,092) 18,491 20,229 33,717 29,457 (27,525) (27,525) 6,192 1,932 5,281 (599) 5,281 (599) 911 2,531 911 2,531 6,192 1,932 funds of the charity, as follows:- |
|---|---|---|---|
| 911 | 2,531 | ||
| 2,531 | |||
| 1,932 |
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 15.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
C Siddle
Trustee
Approved by the board of trustees on 28 September 2023
The notes attached on pages 21 to 36 form an integral part of these accounts.
20
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
The charity is dependent on the continuing support of Horsley Village Church who have provided funding of £27,525 and as a consequence the going concern basis is also dependent on the continuing support of Horsley Village Church. Other than these matters, the Trustees are not aware of any material uncertainties about the charity's ability to continue as a going concern.
Risks and future assumptions
Policies relating to categories of income and income recognition.
Nature of income
Gross income represents the value, net of discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Categories of Income
Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.
Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.
Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
21
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
Income recognition
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Dividends are accrued when the shareholder’s right to receive payment is established.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
Accounting for deferred income and income received in advance
Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.
Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.
When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.
Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.
Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.
Policies relating to expenditure on goods and services provided to the charity.
Recognition of liabilities and expenditure
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note6.
22
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
Policies relating to assets, liabilities and provisions and other matters.
Tangible fixed assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Plant and machinery
25 % reducing balance
A regular annual review of the likelihood of asset impairment is undertaken.
Accounting for capital grants and fixed asset funds.
Gifts of tangible fixed assets or grants of a capital nature, given for the purposes of acquiring specific assets to be fully utilised in the furtherance of the objects of the charity, are credited to fixed asset funds after the donated asset has been received or sums have been properly expended on the restricted purpose.
Where the terms of the gift require the charity to hold the asset on an ongoing basis for a specific purpose, then the fixed asset fund so created is categorised as a restricted fixed asset fund, and the relevant restrictions are noted in the fixed asset note 11.
Where the terms of the gift are met once the asset is acquired, so allowing the charity to use the asset on an unrestricted basis, including the right to receive the proceeds of any future sale of the asset on an unrestricted basis, then the fixed asset fund so created is categorised as a designated fixed asset fund.
When assets are acquired for the furtherance of the charity's objects, utilising the charity's own unrestricted funds, a transfer is made from unrestricted funds to a designated fixed asset fund.
Whether acquired with unrestricted or restricted funds, the asset acquired is initially shown in the balance sheet at the full cost of acquisition or subsequent revaluation.
As the related assets are depreciated, in accordance with the depreciation policy,in order to reflect the dimunition in the asset,a transfer is made from the relevant fixed asset funds to either unrestricted or restricted revenue funds, as appropriate to the terms of the original gift, if any.
The effect of this policy is that the aggregate of all fixed asset funds shall equate to the net book value of fixed assets.
In the first year that this policy was adopted, a transfer to fixed asset funds was made equivalent to the net book value of the assets.
Any residual liability to the donor arising from, for example, the asset's future sale, is disclosed as a contingent liability unless the event that would trigger repayment of the grant becomes probable in which case a liability for repayment is recognised.
Insofar as this policy relates to Government grants and to the extent that it may be a departure from the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), such departure is justified on the basis that it is in order to comply with the SORP.
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Creditors and provisions
Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the SORP.
23
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
Leasing and hire purchase contracts and commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the charity, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are grants awarded by funders with specific conditions attached for the use of the funds.
There are no endowment funds.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Significance of financial instruments to the charity's position
The Horsley Village Church provided the company with a 10 year interest free loan of £27,525 in 2004. The company received confirmation that this loan has been rolled over for a further 10 years on the same interest free terms.
5 Net surplus before tax in the financial year
| The net surplus before tax in the financial year is stated after charging:- Depreciation of owned fixed assets |
2022 £ 2,457 |
2021 £ 3,075 |
|---|---|---|
6 The contribution of volunteers
As disclosed within the Trustees' Report, the charity depends on the support of its volunteers, which is much appreciated. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.
24
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
7 Staff costs and emoluments
| Salary costs 2022 £ Gross Salaries excluding trustees and key management personnel 12,585 Total salaries, wages and related costs 12,585 Numbers of full time employees or full time equivalents 2022 The average number of total staff employed in the year was 1 The estimated equivalent number of full time staff deployed in different activities in the year was:- Engaged on management and administration 1 The estimated full time equivalent number of all staff employed as above 1 |
2022 £ 12,585 |
2021 £ 12,340 |
|---|---|---|
| 12,585 | 12,340 | |
| 2022 1 |
2021 1 |
|
| 1 | ||
| 1 | 1 |
Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.
No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.
8 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
25
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
9 Deferred income - Unrestricted and Designated funds
| Current Year Sundry items under £1000 Greggs Foundation Northumberland County Council - COVID support Ecclesiastical Insurance Group Total These deferrals are included in creditors Prior Year Sundry items under £1,000 Greggs Foundation Northumberland County Council - COVID support Ecclesiastical Insurance Group Total These deferrals are included in creditors |
Opening Deferrals £ 2,133 1,000 13,853 1,000 |
Released from prior years £ - - - - |
Received less released in year £ - - - - |
Deferred at year end £ 2,133 1,000 13,853 1,000 |
|---|---|---|---|---|
| 17,986 | - | - | 17,986 | |
| Opening Deferrals £ 2,133 1,000 2,968 1,000 |
Released from prior years £ - - - - |
2022 £ 17,986 |
2021 £ 17,986 |
|
| Received less released in year £ - - 10,885 - |
Deferred at year end £ 2,133 1,000 13,853 1,000 |
|||
| 7,101 | - | 10,885 | 17,986 | |
| 2021 £ 17,986 |
2020 £ 7,101 |
The deferrals included in creditors relate to funding specified by the funders as relating to specific periods and represent those parts of unrestricted funds which relate to periods subsequent to the accounting year end and are treated as grants in advance, or, alternatively, where there are conditions which must be fulfilled prior to entitlement or use of the unrestricted funds by the charity.
26
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
10 Deferred income - Restricted funds
| Current Year Sundry items under £1000 DPD Environmental The Barbour Foundation The Rothley Trust Karbon Homes The National Lottery Total These deferrals are included in creditors Prior Year Sundry items under £1000 DPD Environmental The Barbour Foundation The Rothley Trust Karbon Homes Total These deferrals are included in creditors |
Opening Deferrals £ 1,050 1,000 1,000 1,000 1,000 - |
Released from prior years £ - - - - - - |
Received less released in year £ - - - - - 18,354 |
Deferred at year end £ 1,050 1,000 1,000 1,000 1,000 18,354 |
|---|---|---|---|---|
| 5,050 | - | 18,354 | 23,404 | |
| Opening Deferrals £ 1,050 1,000 1,000 1,000 1,000 |
Released from prior years £ - - - - - |
2022 £ 23,404 |
2021 £ 5,050 |
|
| Received less released in year £ - - - - - |
Deferred at year end £ 1,050 1,000 1,000 1,000 1,000 |
|||
| 5,050 | - | - | 5,050 | |
| 2021 £ 5,050 |
2020 £ 5,050 |
The deferrals included in creditors relate to funding specified by the funders as relating to specific periods and represent those parts of restricted funds which relate to periods subsequent to the accounting year end and are treated as grants in advance, or, alternatively ,where there are conditions which must be fulfilled prior to entitlement or use of the restricted funds by the charity .
27
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
11 Tangible fixed assets
| Current Year Cost At 1 January 2022 Additions At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 Prior Year Cost 01 January 2021 Additions 31 December 2021 Depreciation 01 January 2021 Charge for the year 31 December 2021 Net book value 31 December 2021 31 December 2020 |
Land and Buildings £ 228,566 7,852 |
Plant & Machinery £ 33,486 603 |
Motor Vehicles £ - - |
Total £ 262,052 8,455 |
|---|---|---|---|---|
| 236,418 | 34,089 | - | 270,507 | |
| 228,565 - |
24,259 2,457 |
- - |
252,824 2,457 |
|
| 228,565 | 26,716 | - | 255,281 | |
| 7,853 | 7,373 | - | 15,226 | |
| 1 | 9,227 | - | 9,228 | |
| Land and Buildings £ 228,566 - |
Plant & Machinery £ 26,637 6,849 |
Motor Vehicles £ - - |
Total £ 255,203 6,849 |
|
| 228,566 | 33,486 | - | 262,052 | |
| 228,565 - |
21,184 3,075 |
- - |
249,749 3,075 |
|
| 228,565 | 24,259 | - | 252,824 | |
| 1 | 9,227 | - | 9,228 | |
| 1 | 5,453 | - | 5,454 |
28
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
| 12 Debtors Trade debtors Prepayments and accrued income 13 Creditors: amounts falling due within one year Accruals Deferred Income - Unrestricted & designated funds Deferred Income - Restricted funds Other creditors 14 Creditors: amounts falling due after one year Other creditors 15 Income and Expenditure account summary At 1 January 2022 Surplus after tax for the year At 31 December 2022 |
2022 £ 532 1,815 |
2021 £ 611 947 |
|---|---|---|
| 2,347 | 1,558 | |
| 2022 £ 3,522 17,986 23,404 900 |
2021 £ 4,156 17,986 5,050 900 |
|
| 45,812 | 28,092 | |
| 2022 £ 27,525 |
2021 £ 27,525 |
|
| 2022 £ 1,932 4,260 |
2021 £ 1,527 405 |
|
| 6,192 | 1,932 |
16 Related party transactions
In 2005 the charity acquired fixed assets from Horsley Village Church for £186,911 and was granted a 23 year lease of premises by Horsley Village Church at an annual rent of £6,000 per annum. In the light of the COVID-19 restrictions the rent was reduced on a temporary basis.
29
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
17 Particulars of how particular funds are represented by assets and liabilities
| At 31 December 2022 Tangible Fixed Assets Current Assets Current Liabilities Long Term Liabilities At 1 January 2022 Tangible Fixed Assets Current Assets Current Liabilities Long Term Liabilities |
Unrestricted funds £ 14,315 64,303 (45,812) (27,525) |
Designated funds £ 911 - - |
Restricted funds £ - - - - |
Total Funds £ 15,226 64,303 (45,812) (27,525) |
|---|---|---|---|---|
| 5,281 | 911 | - | 6,192 | |
| Unrestricted funds £ 6,697 48,321 (28,092) (27,525) |
Designated funds £ 2,531 - - - |
Restricted funds £ - - - - |
Total Funds £ 9,228 48,321 (28,092) (27,525) |
|
| (599) | 2,531 | - | 1,932 |
18 Change in total funds over the year as shown in Note 17 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Designated Fixed Asset Funds Total unrestricted and designated funds Total charity funds |
Funds brought forward from 2021 £ (599) 2,531 |
Movement in funds in 2022 See Note 19 £ 4,260 - |
See Note 20 £ 1,620 (1,620) Transfers between funds in 2022 |
Funds carried forward to 2023 £ 5,281 911 |
|---|---|---|---|---|
| 1,932 | 4,260 | - | 6,192 | |
| 1,932 | 4,260 | - | 6,192 |
30
The Hearth Centre (Horsley) Ltd
Notes to the Accounts for the year ended 31 December 2022
19 Analysis of movements in funds over the year as shown in Note 18
| Other Income Expenditure Gains & Losses 2022 2022 2022 £ £ £ Unrestricted and designated funds:- Unrestricted Revenue Funds 52,749 (48,489) - 52,749 (48,489) - Gains and losses are detailed in notes 0,0, 0, 0 and 0 20 Details of transfers between funds To/(from) Designated Fixed Asset Funds Net transfers To/(from) Unrestricted Revenue Funds in accordance with the accounting policy 'Accounting for capital grants and fixed asset funds'. The transfers shown in note 18 above are:- |
Income 2022 £ 52,749 |
Expenditure 2022 £ (48,489) |
Other Gains & Losses 2022 £ - |
Movement in funds 2022 £ 4,260 |
|---|---|---|---|---|
| 52,749 | (48,489) | - | 4,260 | |
| 2022 £ 1,620 (1,620) |
||||
| - |
21 Ultimate controlling party
The charity is under the control of its legal members.
Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
31