Charity number: 1106520
FAKENHAM FOCUS
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FAKENHAM FOCUS
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 15 |
FAKENHAM FOCUS
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022
| Trustees | Mike Coates, Chair |
|---|---|
| Martyn Benstead, Treasurer | |
| Howard Young | |
| Amanda Nudds | |
| Ian Wood | |
| Charity registered number 1106520 Principal office 10 Oak Street Fakenham Norfolk NR21 9DY Independent Examiner Larking Gowen LLP Chartered Accountants Summerhill House 1 Sculthorpe Road Fakenham NR21 9HA |
Page 1
FAKENHAM FOCUS
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report together with the financial statements of the charity for the 1 April 2021 to 31 March 2022.
Objectives and activities
a. Policies and objectives
The objective of the charity is to assist people living in and around Fakenham who are in need or disadvantaged in some way. This is achieved through support, the provision of information and advice from specialist organisations. Also to assist with education and training as determined by user needs.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. A summary of the achievements and performance in the year is detailed below.
b. Main activities undertaken to further the charity's purposes for the public benefit
Our premises are open to the public Monday to Wednesday (am) and Thursdays (am and pm). Special care is taken over the provision of access and facilities for disabled people.
We offer a drop-in facility with refreshments and opportunities for social engagement. Internet access is provided without charge.
Access to relevant statutory and voluntary organisations is regularly arranged in support of individuals, groups and families.
Two employed co-ordinators organise day-to-day provision of the services and they have the support of volunteers on a regular basis. The programme of activities can be and is varied and is driven by user needs, with a Management Committee overview.
Achievements and performance
a. Review of activities
The Community Fridge project has continued to grow and flourish over the past year, we have seen an increase in the volume of food received and the variety between both supermarket and more local food donations.
Continued funding has enabled us to continue offering support for members of the public with various needs, mental health support/signposting/counselling including 1-1 with Clarissa Belson, filling out forms they may not understand and helping people get general social interaction to work towards reducing loneliness within isolated people and communities.
Page 2
FAKENHAM FOCUS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Achievements and performance (continued)
b. Financial performance and reserves
The attached accounts demonstrate in financial terms the activities of the charity for the past year. As can be seen the Charity has a surplus for the year ended £17,413. This compares to a deficit in the previous year of £16,884.
The trustees are extremely grateful to our staff and donors who have secured grants from the Postcode Lottery and Norfolk Community Foundation, and donations from local businesses and organisations including Fakenham Fire Service, Fakenham Rotary and The Factory Shop.
The trustees are also grateful to members and volunteers who have donated valuable contributions both in terms of time and money whilst future funding is secured.
The reserves policy is decided upon by the trustees. Reserves are held as unrestricted funds to meet both planned expenditure when it falls due an4d to cover contingencies. The free reserves at the year end being unrestricted funds not invested in fixed assets totalled £43,936 (2021: £37,440).
Reserves held in bank accounts, such as deposits are interest-bearing when possible.
Cash reserves are £58,628 (2021: £39,031).
The charity has undertaken a detailed review of the various risks faced by it and has taken steps to mitigate these risks where possible.
Financial review
a. Going concern
The Trustees have considered the charity's position at the time of signing the financial statements.
Based on this, the trustees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the forseeable future. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.
Structure, governance and management
a. Constitution
Fakenham Focus, also known as First Focus, is a registered charity, number 1106520, and is governed by its constitution.
b. Methods of appointment or election of Trustees
Trustees are appointed by existing trustees with a lead given by office holders of the Management Team.
Page 3
FAKENHAM FOCUS TRVSTEES. REPORT ICOIUINUED) FOR THE YEAR ENDED 31 MARCH 2022 Stat•m•nt of Trust•••' r•8pon8lbllltl•s Tho Trustses 8re responslble fN wepainj the Trustees. reyt aThJ the finanGial stst¢m6nls In aCC(danCe vAlh applicable law arKI United KirwJdom kejntsng StsNJarts (United Kingdom Generally Acceplo(l A¢¢ounllng Pr#ctictil. The law applicat4e lo charities in EThJland & Wales requires the Trustees to prepare financial 518tem?nls for each flnancial Yknich gr¥e 8 true and lalr vièw of the stale of affairs of the tharity and of ils irming resource$ and applle81ion of res¢)urces. Including Ils Ineome arwj 8xp6ndllure. fry that period. In pfepariThJ those flnanclol ts18mènts. thè Trusta8s arn rthwlr8d to.. sè18ct sullable accounting pdiaes and th9n aFply them consslenuy.. observe the methods 8nd principle5 of the Charities SORP IFRS 102): make Iutjgmenls and aecounling ostlmales thai reason90 aThJ pwdenl: state ¥thethef appllc8ble UK Acctyjnung Slandards (FRS 1021 have b98n foll0vd. subject to ary malertal departures discbsed 8nd explaln8d in the financlal statemenls; prepare the flnanclal stslements on the gLlry concem basls unl8ss11 Is inapsxoprlate to presumg that Ihe charity IA411 continua in bwin•& The Trustees are responslbl8 for koeping adequate 8ccountiryJ records that am sufficignl lo show and explaln tho charity's Iwsactlons and dlgdose with reasonae accuracy al any limè Ihe fin8nci81 position of tho charlty and 8nable Ihem lo ensure Ihal the flnancAal stslements compty th8 Charilios Act 2011. the Charlly (Acttwnls Reports) RegulaIlor 2CM)8 ar#J thè proViOn$ of the Trust deed. They are 8lso responslble for safegu8rdlng the assets of the th8rily 8nd hence lor tsking reasonable sleps for the prevonlion 8nd detecllon of frwd and other Irregularftle6. Apwoved by order of tho members ol the bowd of Tvuslees and 8lpn8d on thèlr behalf by: Mlk• Coal•#. Chalr (Chalr ol Trustees) Dale.. ,107/2a2 Page 4
FAKENHAM FOCUS
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022
Independent examiner's report to the Trustees of Fakenham Focus ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2022.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the accounts 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 Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
-
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Dated: 27 July 2022 Christopher Yeates FCA DChA
For and on behalf of Larking Gowen LLP Summerhill House, Sculthorpe Road, Fakenham, Norfolk, NR21 9HA
Page 5
FAKENHAM FOCUS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Note Income from: Donations and legacies 2 Other trading activities: Investments Total income Expenditure on: Charitable activities: . Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2022 £ 30,000 - 30,000 18,118 18,118 11,882 - 11,882 11,882 |
Unrestricted funds 2022 £ 29,399 - 29,399 23,868 23,868 5,531 41,302 5,531 46,833 |
Total funds 2022 £ 59,399 - 59,399 41,986 41,986 17,413 41,302 17,413 58,715 |
Total funds 2021 £ 39,959 1 39,960 56,844 56,844 (16,884) 58,186 (16,884) 41,302 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 15 form part of these financial statements.
Page 6
FAKENHAM FOCUS BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Note FIX awts Tangible asse15 2,897 3.862 2,897 1862 Currnnt •ss•ts Cash 8t bank and In h 58.028 39,031 58.628 39.031 Creditors.. amounts 18lllng due wbthln onè year {2.8101 (1,591) Net currnnt assets 55.818 37.440 Tgts18M•t• 1•8• current Ilabllltl•¥ 58.715 41,302 Total net a•••t• S8.715 41,302 Charfty fund• Rft4trict(xl fijnd Unreslricled funds 11.882 46,033 41.302 Total lund• 58.715 41.302 Tho flnandal statements were approvod and aultsxlsed lor Issue by the TN8tees and sign¢d on Iheir behalf by: Mlk• Coat•s (Chair ol Trusleesl Dal8.' Martyn Bgn8l•ad Tnlee 22/0712012. The notes on page5 8 to 15 form part of these financial slalements. Page 7
FAKENHAM FOCUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Fakenham Focus meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Going concern
The Trustees have considered the charity's position at the time of signing the financial statements.
Based on this, the trustees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the forseeable future. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.
1.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Page 8
FAKENHAM FOCUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies (continued)
1.4 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
1.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
- Fixtures and fittings 25% reducing balance
1.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 9
FAKENHAM FOCUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Income from donations and legacies
| Grants Grants Social services grants Donations Total 2022 Grants Lotto Social services grants Donations Total 2021 |
Restricted funds 2022 Unrestricted funds 2022 £ £ 30,000 - - 5,072 30,000 5,072 - 24,327 30,000 29,399 Restricted funds 2021 Unrestricted funds 2021 £ £ 30,977 - - 4,693 30,977 4,693 - 4,289 30,977 8,982 |
Total funds 2022 £ 30,000 5,072 |
|---|---|---|
| 35,072 | ||
| 24,327 | ||
| 59,399 | ||
| Total funds 2021 £ 30,977 4,693 |
||
| 35,670 | ||
| 4,289 | ||
| 39,959 |
Page 10
FAKENHAM FOCUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
3. Charitable activities
| Accountancy Training Refreshments Rent, rates & electricity Insurance Repairs and maintenance Printing, postage and stationery Telephone Travelling Wages Depreciation Professional and bookkeeping Charitable activities 2021 Accountancy Refreshments Rent, rates & electricity Insurance Repairs and maintenance Printing, postage and stationery Telephone Travelling Wages Depreciation Professional and bookkeeping |
Restricted funds 2022 Unrestricted funds 2022 £ £ - 1,443 - 65 572 464 2,314 183 - 503 - 311 486 755 594 197 355 250 12,118 17,531 - 965 1,680 1,200 18,119 23,867 Restricted funds 2021 Unrestricted funds 2021 £ £ - 1,375 505 - 10,565 30 - 493 - 572 659 1,369 - 688 - 614 34,731 180 - 1,282 - 3,780 46,460 10,383 |
Total funds 2022 £ 1,443 65 1,036 2,497 503 311 1,241 791 605 29,649 965 2,880 |
|---|---|---|
| 41,986 | ||
| Total funds 2021 £ 1,375 505 10,595 493 572 2,028 688 614 34,911 1,282 3,780 |
||
| 56,843 |
Page 11
FAKENHAM FOCUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
4. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,320 ( 2021 - £1,230 ).
5. Staff costs
| Wages and salaries | 2022 £ 29,649 29,649 |
2021 £ 34,911 |
|---|---|---|
| 34,911 |
The average number of persons employed by the charity during the year was as follows:
| 2022 | 2021 |
|---|---|
| No. | No. |
| 4 | 5 |
No employee received remuneration amounting to more than £60,000 in either year.
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 March 2022, no Trustee expenses have been incurred (2021 - £NIL) .
7. Tangible fixed assets
Cost or valuation At 1 April 2021 At 31 March 2022 |
Fixtures and fittings £ 20,671 |
|---|---|
| 20,671 |
Page 12
FAKENHAM FOCUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
7. Tangible fixed assets (continued)
Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Fixtures and fittings £ 16,809 965 |
|---|---|
| 17,774 | |
| 2,897 | |
| 3,862 |
8. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security |
2022 £ 2,496 314 2,810 |
2021 £ 1,410 181 1,591 |
|---|---|---|
Page 13
FAKENHAM FOCUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
9. Statement of funds
Statement of funds - current year
| Balance at 1 April 2021 £ Unrestricted funds General Funds - all funds 41,302 Restricted funds Restricted Fund - running costs - Restricted Fund - operating costs - Restricted Fund - staff salaries, rent & utilities - - Total of funds 41,302 |
Income £ Expenditure £ 29,399 (23,868) 5,000 (5,000) 5,000 (5,000) 20,000 (8,118) 30,000 (18,118) 59,399 (41,986) |
Balance at 31 March 2022 £ 46,833 |
|---|---|---|
| - - 11,882 |
||
| 11,882 | ||
| 58,715 |
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors. The restricted fund balances represent the amounts of the donations still held at the year end.
Statement of funds - prior year
| Unrestricted funds General Funds - all funds Restricted funds Restricted Funds - all funds Total of funds |
Balance at 1 April 2020 £ 42,702 15,484 58,186 |
Income £ 8,983 30,977 39,960 |
Expenditure £ (10,383) (46,461) (56,844) |
Balance at 31 March 2021 £ 41,302 |
|---|---|---|---|---|
| - | ||||
| 41,302 |
Page 14
FAKENHAM FOCUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
10. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2022 Unrestricted funds 2022 £ £ - 2,897 11,882 46,746 - (2,810) 11,882 46,833 |
Total funds 2022 £ 2,897 58,628 (2,810) 58,715 |
|---|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 3,862 39,031 (1,591) 41,302 |
Total funds 2021 £ 3,862 39,031 (1,591) 41,302 |
|---|---|---|
11. Related party transactions
During the year Stephenson Smart provided accountancy services to the charity. Martyn Benstead is a partner of Stephenson Smart. The charge for the year was £2,880 (2020: £3,270). At the 31 March 2022 £480 (2021: £240) was due to Stephenson Smart and is included in creditors. The power to make the payment is included in the Charities Act 2011.
Page 15
FAKENHAM FOCUS
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022
| Income Lotto Social services grants Other grants Other donations and legacies Investments Total income Less: Accountancy Training Refreshments Rent, rates & electricity Insurance Repairs and maintenance Printing, postage and stationery Telephone Travelling Wages Depreciation Professional and bookkeeping Total expenditure Net income/(expenditure) for the reporting period Surplus/(Deficit) for the reporting period Funds brought forward at 1 April 2021 Funds carried forward at 31 March 2022 |
2022 £ - 5,072 30,000 24,327 - 1,443 65 1,036 2,497 503 311 1,241 791 605 29,649 965 2,880 |
2022 £ 59,399 41,986 17,413 17,413 41,302 58,715 |
2021 £ 30,977 4,693 - 4,289 1 1,375 - 505 11,255 493 572 1,369 688 614 34,911 1,282 3,780 |
2021 £ 39,960 56,844 (16,884) (16,884) 58,186 41,302 |
|---|---|---|---|---|