Charity number: 1106520 FAKENHAM FOCUS UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FAKENHAM FOCUS CONTENTS Page Reference and administrative details of the charity, its Trustees and advisers Trustees, report Independent examiner's report Statement of financial activities BalanGe sheet Notes to the flnanclal statements 8-15
FAKENHAM FOCUS REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Mike Coates (Resigned 16 November 20231 Martyn Benstead, Treasurer Howard Young Amanda Nudds lan Wood Kevin Howard (appointed 25 July 2023) 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 NR219HA Page 1
FAKENHAM FOCUS TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together wilh the financial statements of Ihe charity for the 1 April 2023 to 31 March 2024. Objectlves 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 benef it, including the guidance 'Public benefit.. running a charity (PB2)'. A summary of the achievements and performance in the year is detailed below. b. Main activitles undertaken to further the charity's purposes for the publlc benefit Our premises are open to the public Monday to Wednesday (am) and Thursdays lam 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. Revlew of activities This year First Focus has continued to provide all of its regular seNices, that do much to help its members and the community with their mental health and wellbeing, with counselling , providing a warm safe space to help combat social isolation,compleling forms, signposting to other organisations and making use of the Community Fridge and donated foodstuffs distribution point. In particular this year it has also provided much-needed financial information and advice, to help with coping with the rising cost of living and the closure of many branches of banks in Fakenham and Norfolk in general. Page 2
FAKENHAM FOCUS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 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 £1,340. This Compares to a deficit in the previous year of £14,281 First Focus has continued this year with support from the National Lottery, Postcode Lottery, Norfolk Community Foundation and the support and fundraiing of local businesses and events like Kinnerton and Fakenham Beer & Gin festival. 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 reseNes policy is decided upon by the trustees. ReseNes are held as unrestricted funds to meet both planned expenditure when it falls due and to cover contingencies. The free reserves at the year end being unrestricted funds not invested in fixed assets tolalled £42,697 (2023.. £39,835). Reserves held in bank accounts, such as deposits are interest-bearing when possible. Cash reserves are £43,685 (2023.. £42,696). 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 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 basi5 of accounting in preparing these financial statements. Structure, governance and management 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 TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢pted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming SOurCeS and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently-, observe the methods and principles of the Charities SORP (FRS 1021; make judgments and accounting estimates Ihal are reasonable and prudent,. slate whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial 51alements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of f raud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Amanda Nudds Trustee Date.. Z4.Olo. la2 Page 4
FAKENHAM FOCUS
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024
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 2024.
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:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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: 26 June 2024 Christopher Yeates FCA DChA
For and on behalf of Larking Gowen LLP Summerhill House, Sculthorpe Road, Fakenham, Norfolk, NR21 9HA
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FAKENHAM FOCUS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tolal funds 2023 Note Income from: Donations and legacies Other trading activities.. Investments 30,500 24,827 55,327 36. 056 13 13 Total income 30,500 24.840 55,340 36,058 Exp8nditure on: Charitable activities.. Charitable activities 31,000 23,000 54,000 50,339 Total expenditure 31,000 23,000 54,000 50,339 Net movemont in funds (5001 1,840 1,340 (14,281) Reconciliation of funds: Total funds brought forward Net movement in funds 500 43,934 1,840 44,434 1,340 58, 715 (14, 281) (5001 Total funds carried forward 45,774 45,774 44,434 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 AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 3,077 4,099 3,077 4,099 Current assets Debtors Cash at bank and in hand 849 43,685 42,696 44,534 42,696 Credilors.. amounts falling due within one year {1,837) (2, 361) Net current assets 42,697 40,335 Total assets less current Ilabllities 45,774 44,434 Total net as8ets 45,774 44,434 Charity funds Restricted funds Unrestricted funds 10 10 500 43,934 45,774 Total funds 45,774 44,434 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Martyn Benstead Trustee Dale.. The noles on pages 8 to 15 form part of these financial statements. Page 7
FAKENHAM FOCUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 20151, 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 fail view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo 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 othetwise stated in the relevant accounting policy. 1.2 Golng concern The Trustees have considered the charity's position at the time of signing the f inancial statements. Based on this. the trustees have concluded that they have a reasonable expectation that the charity will have adequate resources lo continue in operational existence for the forseeable future. Th8y therefore continue to adopt the going concern basis of accounting in preparing these financial ststements. 1.3 Income All income is recognised once the charity has enlitlement 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 Ihat 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 2024 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 re¢ognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulaled 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 250/0 reducing balance 1.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.7 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. 1.8 Liabllities and provislons Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable thal a transfer of economic benefit will be required in settlement, and the amount of the settlement can be eslimaled reliably, Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount il has received as advanced payments for the goods or setvices it must provide. 1.9 Fund accounting General funds are unrestricted f unds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have nol 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 2024 Income from donations and legacies Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Grants Lotto Other grants 30,500 30,500 30,500 30,500 Donations 24,827 24,827 Total 2024 30,500 24,827 55,327 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Grants Grants Other grants 9,490 6, 000 9,490 10,214 4,214 15,490 4,214 19,704 Donations 16,352 16,352 Total 2023 15,490 20,566 36,056 Page 10
FAKENHAM FOCUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities Restricted Unrestricted funds funds 2024 2024 Totsl funds 2024 Accountancy Training Refreshments Rent, rates & electricity Insurance Repairs and maintenance Printing, postage and stationery Telephone Travelling Wages Depreciation Professional and bookkeeping 1,818 334 633 7,549 341 1,818 334 633 7,549 341 263 1,601 1,090 720 4,749 1.022 2,880 263 1,601 1,090 720 35,749 1,022 2,880 31,000 31,000 23,000 54,000 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Charitable activities 2023 Accountancy Training Refreshments Rent, rates & electricity Insurance Repairs and maintenance Printing, postage and stationery Telephone Computer Travelling Wages Depreciation Professional and bookkeeping 1,620 19 889 1,620 19 1, 189 7,041 520 240 300 3, 650 3,391 520 240 199 1,054 552 25 670 10,221 724 3,542 1,253 753 201 25 670 22, 522 32, 743 724 3,542 26,872 23,467 50,339 Page11
FAKENHAM FOCUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Independent examiner's remuneration The independent examinels remuneration amounts to an independent examiner fee of £1,440 {2023 - £1.350} Staff costs 2024 2023 Wages and salaries 35,748 32. 743 35,748 32, 743 The average number of persons employed by the charity during the year was as follows.. 2024 No. 2023 No employee received remuneration amounting to more than £60,000 in either year. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023- £NIL). During the year ended 31 March 2024. no Trustee expenses have been incurred (2023- £NIL). Page 12
FAKENHAM FOCUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Tangible fixed assets Fixtures and fittings Cost or valuation At 1 April 2023 22,597 At 31 March 2024 22,597 Depreciatlon At 1 April 2023 Charge for the year 18,498 1,022 At 31 March 2024 19,520 Not book value At 31 March 2024 3,077 At 31 March 2023 4, 099 Debtors 2024 2023 Due within one year Prepayments and accrued income 849 849 Creditors: Amounts falling due wlthin one year 2024 2023 Trade creditors Other taxation and social security 1,615 222 2,176 185 1,837 2,361 Page 13
FAKENHAM FOCUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Statement of funds Statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expendlture Unrestricted funds General Funds- all funds 43,934 24,840 (23,000) 45,774 Restricted funds Restricted Fund - staff salaries 500 30,500 (31,000 Total of funds 44,434 55,340 (54,000 45,774 Restricted funds are funds which are to be used in accordance with specific reslriclions 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 88lanGe at 31 March 2023 Balance al 1 April 2022 Income Expenditu Unrestricted funds General Funds - all funds 46,833 20,568 (23,467) 43,934 Restricted funds Restricted Fund - operating costs Restricted Fund - staff salaries, rent & utilities 4,350 11.140 (4, 350) (22, 522) 11,882 500 11,882 15,490 (26,872) 500 Total of funds 58,775 36,058 (50, 339) 44,434 Page 14
FAKENHAM FOCUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of net assets between funds Analysis of net assets between funds - current period Unrestrictod funds 2024 Total funds 2024 Tangible fixed assets Current assets 3,077 44,534 {1,837) 3,077 44,534 (1,837) Creditors due within one year Total 45,774 45.774 Analysls of net assets between funds . prior period Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Currenl assets Creditors due within one year 4,099 42,196 (2, 361) 4,099 42,696 (2, 361) 500 Total 500 43,934 44,434 12. 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 12022.. £3,542}. At 31 March 2024 £240 (2023.. £2401 was due to Stephenson Srnart 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 2024 2024 2024 2023 2023 Income Lotto 9,490 10,274 16,352 Other grants Other donations and legacies Other income 30,500 24,827 13 Total income 55,340 36,058 Less.. Accountancy Training Refreshments Rent, rates & electricity Insurance Repairs and maintenance Printing, postage and stationery Telephone Computer Travelling Wages Depreciation Professional and bookkeeping 1,818 334 633 7,549 341 263 1,620 19 1,189 7,041 520 240 1,252 754 25 670 32, 743 724 3, 542 1,601 1,090 720 35,749 1,022 2,880 Total expendlture Net incomel(expenditure) for the reporting period $4,000 50,339 1,340 {14,281) SurplusllDeficit) for the reporting period Funds brought fopNard at 1 April 2023 1,340 44,434 (14,281) 58,715 Funds carrled forward at 31 March 2024 45,774 44,434