Essential Needs Report and Accounts 31 March 2021
Company Number: 05312941 Charity Registration Number: 1108046
| CONTENTS | Page |
|---|---|
| Contents Table | 1 |
| Charity Information | 2 to 3 |
| Trustees’ Annual Report | 4 to 6 |
| Statement of Trustees’ Responsibilities | 7 |
| Independent Examiner’s Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 16 |
1
CHARITY INFORMATION
Company Name: Essential Needs Company Registration No: 05312941 Charity Number: 1108046
Legal Structure and governing document of the Charity
Essential Needs was constituted as a company limited by guarantee on 14 December 2004. It was registered as a charity on 11 February 2005.
The Trustees are directors under Companies legislation and are also Trustees under Charities legislation and have responsibilities, as such, under both company law and charity law.
The Trustees are all individuals.
The provisions regulating the purpose and administration of the Charity are contained in the Memorandum and Articles of Association which (as amended August 2008) are filed with the registrar of companies for England and Wales.
The principal operating address, telephone number and email address of the Charity are:
Address:
Back Gladstone Street Harrogate HG2 8DF Telephone : 01423 870040 Email : manager.essentialneeds@gmail.com
Details of the Independent Examiner
Claire Welling West Yorkshire Community Accounting Service Stringer House 34 Lupton Street Leeds LS10 2QW Charity Number 1076962
Bankers
Leeds Building Society Co-operative Bank plc Holbeck House P O Box 101 105 Albion Street 1 Balloon Street Leeds Manchester LS1 5AS M60 4EP
2
The Trustees in office on the date the report was approved were:
Joy Allan Anthony Campbell Susan Donnelly John Ennis Lucy Hind Martin Jobbings Christine Norton Peter Rogers
The Trustees who served as a director in the reporting period, and if applicable, their dates of appointment or resignation during the year, were:
| Name | Appointed | Resigned /Retired |
|---|---|---|
| Joy Allan | ||
| Susannah Creeley | 25 March 2021 | |
| Susan Donnelly | 12 November 2020 | |
| Lesley Davis | 8 October 2020 | |
| John Ennis | ||
| Lucy Hind | 12 November 2020 | |
| Martin Jobbings | ||
| Christine Norton | ||
| David Siddans | 8 October 2020 |
One third of the Trustees (or the number nearest to one third) retire each year. Joy Allan and Christine Norton will retire at the AGM.
All the Trustees are members of the Charity.
3
TRUSTEES’ ANNUAL REPORT
A - OBJECTS AND ACTIVITIES OF THE CHARITY
The Charity has the following objectives:
-
To relieve either generally or individually persons resident in Harrogate and the surrounding area who are in conditions of need, hardship or stress by the provision of furniture and other household accessories calculated to reduce the need, hardship or distress of such persons.
-
To protect and preserve the environment for the benefit of the public, including (without limitation), the re-use and recycling of goods and their component parts and materials as a means of waste reduction.
B - SUMMARY OF MAIN ACTIVITIES OF THE CHARITY IN RELATION TO ITS OBJECTS
The Charity offers its beneficiaries the chance to turn their house into a home, by the provision of as wide a choice of furniture and household goods as is possible, all items being available at low cost. The Charity is staffed by parttime employees, assisted by volunteers to collect, sort and deliver the household goods, and to help with office administration.
C - THE MAIN ACTIVITIES UNDERTAKEN DURING THE YEAR TO FURTHER THE CHARITY’S PURPOSE FOR PUBLIC BENEFIT
In accordance with S17(5) of the Charities Act 2011, the Trustees refer to the guidance contained in the Charity Commission’s general guidance on public benefit in planning future activities. In particular, the Trustees consider how planned activities will contribute to the objectives of the Charity.
D - THE CONTRIBUTION OF VOLUNTEERS DURING THE YEAR
The Charity currently has a governing board of 8 Trustees, 5 of whom also volunteer to assist with operational aspects.
A total of 25 volunteers have assisted with the running of the Charity on a regular basis, both in administration and collection/delivery work. Office work involves the organising of collections and deliveries, the registration of new clients, stock control and the sale of furniture to clients. Collection/delivery work involves the viewing and collection of household goods, predominantly furniture and white goods, and the delivery of such items to clients. In addition, all electrical goods must be PAT tested, which is done by volunteers.
E - THE MAIN ACHIEVEMENTS AND PERFORMANCE OF THE CHARITY DURING THE YEAR
Performance during the period was constrained by the series of mandatory closures under the pandemic regulations. Although it was possible during part of the lockdown periods to operate a skeleton service to support local charities and people in severe need, in effect the Charity was unable to operate normally for half the year.
As a result the trading level was down but nonetheless we sold two-thirds of the number of items that we had sold in the whole of the previous year.
New items of furniture are now sourced and are in demand from our clients and constitute nearly 20% of sales.
Several of our volunteers were unable to be involved even during the 6 months of operating, because of individual vulnerability and the need for shielding throughout the period of the Covid pandemic. Nonetheless the volunteers contributed over 1,500 hours of unpaid work.
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Our activities resulted in approximately 50 tonnes of material being diverted from landfill.
Over 6 tonnes of electrical equipment were donated of which 298 items were reused.
The Charity has identified other charities within its operating area which provide for specific parts of the community with particular housing needs, and the need to furnish and equip such housing. Schemes were initiated to assist those charities by prioritising the supply of items on preferential terms. This has proved successful.
F - THE DIFFERENCE THE CHARITY’S PERFORMANCE HAS MADE TO ITS BENEFICIARIES AND TO WIDER SOCIETY
The Charity benefits the public in the following ways.
Clients who receive low-cost goods from the Charity are helped to improve their lives, their health and wellbeing. These benefits result in a reduction in their needs being met from public resources.
Donors of goods to the Charity are contributing to reducing landfill and helping the public authorities to meet recycling targets. Recycling conserves energy, reduces air and water pollution, reduces greenhouse gases, and conserves natural resources. It also reduces the need for extracting refining and processing raw materials.
The volunteers all make their personal contributions which are valued by the local community and wider society.
G - FINANCIAL REVIEW
Financial Position on 31 March 2021
The financial position of the Charity on 31 March 2021 and the comparatives for the prior year were as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Unrestricted Revenue funds available for | 78,938 | 81,261 |
| General purposes of the Charity | ||
| Liquid reserves (excluding fixed assets | 72,471 | 72,284 |
| acquired for delivery of the Charity’s aims) |
Financial Performance
At the beginning of the year the Charity was one week into the enforced closure brought on by the public health emergency caused by the Covid pandemic. As a result the store was closed, and the trading operation was suspended. Over the course of the year the Charity was only able to operate normally for 6 months. During those 6 months the sales performance was highly successful, partly because of the pent-up demand in the customer base which drove greater sales, and partly because of the improved systems that had been put in place over the previous 2 years.
Coupled with the improved sales performance the Charity benefited from Government financial support of some £32,000. This went a long way towards compensating for the income lost through the suspension of trading.
The resulting financial performance was close to break-even, with expenditure exceeding net income by £2,323. In the circumstances, the Trustees are satisfied with the financial performance of the Charity during the year.
The position at 31 March 2021 was that the unrestricted funds of the Charity were marginally lower than the previous year although cash balances were over £4,000 higher. The Trustees are satisfied with this position.
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The Trustees note the trading success of the Charity during that part of the year when it was permitted to operate, and also the sustained high level of trading after reopening in April 2021. The Charity’s budget for 2021/22 indicates that a surplus can be expected. The charity is not significantly exposed to debtors or dependent on grant income.
For these reasons the Trustees consider that there are no material uncertainties over the ongoing trading position. Whilst there exists the possibility of a return of the Covid issue and consequential lockdown, the experience of the last year shows that Government financial support can reasonably be expected if restrictions on operating are imposed.
Therefore, the Trustees consider that the Charity’s assets are adequate to fulfil its obligations and its ability to continue to operate as a going concern.
Specific changes in fixed assets are detailed in the Notes to the Accounts.
H - RESERVES POLICY
Following the Charity Commission guidance on risk, and as part of its management strategy, the Charity sets aside some of its income to form a reserve against any future shortfall in funds. Income from sales to fund ongoing trading cannot be guaranteed, and funding for major capital expenditure might need funding from reserves if grant funding cannot be secured.
The Trustees consider that a minimum reserve of 50% of annual budgeted expenditure would be adequate to enable the Charity to review its operation should revenue fall significantly. This would give time to review the method of operation and/or seek alternative sources of funding, as well as to meet obligations under the lease of the premises.
The Trustees consider that the maximum figure to hold in reserves should be 100% of annual budgeted expenditure, as this would be adequate to cover deficits over an extended period. Furthermore, plans for future periods will potentially entail incurring higher expenditure in advance of higher income, with a consequential deficit in the short to medium term.
As a result, the policy is that reserves should be in the range of 50% to 100% of the annual budgeted expenditure.
Budgeted expenditure for 2021/22 is £128,761. On 31 March 2021 Unrestricted Funds excluding Fixed Assets were £72,471 (2020: £72,143) and the bank and cash balances stood at £65,983 (2020: £61,771).
The reserves fall within the range set out above and are considered to be adequate by the Trustees.
I - PLANS FOR THE FUTURE
Steps to implement the strategy for improving the efficiency and effectiveness of the Charity, and for the improved delivery of its aims, were deferred due to the prevailing uncertainty caused by the public health emergency.
With the emergence from lockdown in April 2021 it was soon apparent that economic conditions were favourable for the strategy to restart. This entails increasing opening hours and recruiting additional staff. Based on an understanding of our clients’ needs and their shopping routines we anticipate that the additional sales that will be generated by longer opening hours will cover the costs incurred. Nonetheless the longer opening hours will be assessed after 6 months to ascertain the success of the plan, and steps will be taken as appropriate.
6
STATEMENT OF TRUSTEES’ RESPONSIBILITES
The Trustees are responsible for preparing the Trustees’ Annual Report and the Financial Statements in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. The Trustees interpret this responsibility as requiring them to prepare the accounts according to the Charities SORP (FRS 102).
In particular, the Companies Act 2006 and charity law require the Trustees to prepare financial statements for each financial year and of the surplus or deficit of the Charity. In preparing those financial statements, the Trustees are required to:
-
Prepare the accounts in accordance with UK Generally Accepted Accounting Practice
-
Make judgement and estimates that are reasonable and prudent
-
Prepare the financial statements on the going concern basis unless it is appropriate to assume that the Charity will not remain in business
-
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.
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 2011. 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.
METHOD OF PREPARATION OF THE ACCOUNTS
The financial statements are set out on pages 9 to 17.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS 102) (effective 1 January 2019)) and with the Charities Act 2011, and in accordance with the special provisions of the Companies Act 2006 relating to small companies.
This report was approved by the Trustees on 6 August 2021
M.H. Jobbings
_____ Martin Jobbings Trustee
7
INDEPENDENT EXAMINER’S REPORT
Independent examiner's report to the trustees of Essential Needs
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2021, which are set out on pages 9 to 16.
Responsibilities and basis of report
As the charity's trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
2 the accounts do not accord with those records; or
-
3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
-
4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Claire Welling
9 August 2021
West Yorkshire Community Accounting Service
Stringer House 34 Lupton Street Leeds LS10 2QW
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STATEMENT OF FINANCIAL ACTIVITIES
| Restricted | Unrestricted | Total | Restricted |
Unrestricted | Total | |||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | Funds | Funds | |||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |||
| Notes | £ | £ | £ | £ | £ | £ | ||
| INCOME FROM | ||||||||
| Donations & Grants | 2 | 15,686 | 19,592 | 35,278 | 1,248 | 421 | 1,669 | |
| Gift Aid | - | 8,424 | 8,424 | - | 10,841 | 10,841 | ||
| Charitable Activities | ||||||||
| Sales of Donated Furniture | - | 59,581 | 59,581 | - | 75,427 | 75,427 | ||
| Sale of New Furniture | - | 13,111 | 13,111 | - | 17,027 | 17,027 | ||
| Delivery Charges | - | 4,503 | 4,503 | - | 6,269 | 6,269 | ||
| Commission Charges | - | 427 | 427 | - | 529 | 529 | ||
| Other Income | - | 300 | 300 | - | 376 | 376 | ||
| Investments | ||||||||
| Bank Interest | - | 23 | 23 | - | 24 | 24 | ||
| ----------- | ----------- | ----------- | -------- | ----------- | ----------- | |||
| Total Income | 15,686 | 105,961 | 121,647 | 1,248 | 110,914 | 112,162 | ||
| ----------- | ----------- | ----------- | -------- | ----------- | ----------- | |||
| EXPENDITURE | ||||||||
| Charitable Activities | 3 | 15,827 | 108,143 | 123,970 | 831 | 98,886 | 99,717 | |
| Total Expenditure | 6 | & 7 | 15,827 | 108,143 | 123,970 | 831 | 98,886 | 99,717 |
| ----------- | ----------- | ----------- | -------- | ----------- | ----------- | |||
| Net Income/(Expenditure) | (141) | (2,182) | (2,323) | 417 | 12,028 | 12,445 | ||
| before Transfers | ||||||||
| Transfers between Funds | - | - | - | (417) | 417 | - | ||
| ----------- | ----------- | ----------- | -------- | ----------- | ----------- | |||
| Net Income/(Expenditure) | (141) | (2,182) | (2,323) | - | 12,445 | 12,445 | ||
| for the Year | ||||||||
| Total Funds brought | 141 | 81,120 | 81,261 | 141 | 68,675 | 68,816 | ||
| forward | ||||||||
| ----------- | ----------- | ----------- | -------- | ----------- | ----------- | |||
| Balance at 31 March 2021 | - | 78,938 | 78,938 | 141 | 81,120 | 81,261 | ||
| ----------- | ----------- | ----------- | -------- | ----------- | ----------- |
The statement of financial activities includes all gains and losses recognised in the year. Incoming and outgoing resources arise from the Charity’s continuing operations. No activities were acquired or discontinued during the year.
9
BALANCE SHEET
| ALANCE SHEET | |||||
|---|---|---|---|---|---|
| 2021 | 2021 | 2020 | 2020 | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 8 | 6,467 | 8,977 | ||
| CURRENT ASSETS | |||||
| Stock | 595 | 470 | |||
| Debtors | 9 | 1,092 | 131 | ||
| Prepayments & Accrued Income | 9 | 15,448 | 14,453 | ||
| Cash at Bank/In Hand | 65,983 | 61,771 | |||
| ---------- | ---------- | ||||
| 83,118 | 76,825 | ||||
| LIABILITIES | |||||
| Creditors falling due within One Year | 10 | (10,647) | (4,541) | ||
| NET CURRENT ASSETS | 72,471 | 72,284 | |||
| ---------- | ----------- | ||||
| TOTAL NET ASSETS | 12 | 78,938 | 81,261 | ||
| ---------- | ----------- | ||||
| Charity Funds | |||||
| Unrestricted Revenue Funds | 78,938 | 81,120 | |||
| Restricted Funds | 11 | - | 141 | ||
| ---------- | ----------- | ||||
| TOTAL CHARITY FUNDS | 12 | 78,938 | 81,261 | ||
| ---------- | ----------- |
For the year ending 31 March 2021 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The Trustees (who are also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with the FRS 102 (effective January 2019).
Approved on behalf of the Trustees by:
Martin Jobbings Trustee
6 August 2021
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NOTES TO THE FINANCIAL STATEMENTS
1. ACCOUNTING POLICIES
Basis of Accounting
These financial statements have been prepared under the historical cost convention with the items recognised at cost or transaction unless otherwise stated in the relevant notes to the accounts.
The accounts have been prepared in accordance with the Companies Act 2006 relating to small charitable companies, the Statement of Recommended Practice: Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) effective 1 January 2019, and with the Charities Act 2011. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
The Charity constitutes a public benefit entity as defined by FRS 102.
Going concern
Given the position of the balance sheet and the level of liquid resources, the Trustees have identified no material uncertainties that may cast significant doubt over the ability of the Charity to continue as a going concern.
Cash Flow Statement
Exemption has been claimed from preparing a Cash Flow Statement on the grounds that the Charity qualifies as a small company.
Donations
Donations are included in the year in which they are receivable, which is when the Charity becomes entitled to the resource.
Grants receivable
Grants and donations are included in the SOFA when the Charity has unconditional entitlement to the resources.
Investment income
Income from investments is included in the SOFA in the year in which it is receivable
Expenditure
All expenditure is accounted for gross, and when incurred. Direct charitable expenditure includes the direct costs of the activities and depreciation on related assets. Where such costs relate to more than one functional cost category, they have been split on either an estimated time or floor space basis, as appropriate.
Governance costs (see Note 6) include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the independent examination fees and costs linked to the strategic management of the Charity.
Taxation
As a registered charity, Essential Needs is not liable to taxation on its investment income and gains, income and gains arising from trading in furtherance of its charitable objectives and charitable donations. Recovery of income tax is made on tax credits arising from receipts under deeds of covenant and gift aid payments. VAT deemed to be irrecoverable is written off in the Statement of Financial Activities in the period to which it relates .
Recognition of liabilities
Liabilities are recognised when an obligation arises to transfer economic benefits as a result of a past event.
11
1. ACCOUNTING POLICIES (continued)
Tangible fixed assets
Depreciation is provided to write off the cost or valuation, less estimated residual values, of all fixed assets over their expected useful lives. It is calculated at the following annual rates:
Leasehold Premises -25% Reducing Balance Plant and Equipment -25% Straight Line Motor Vehicles -25% Reducing Balance
Items less than £250 are not capitalised and are written off in the year of purchase.
Gifts in kind
Assets and other gifts in kind given for use by the Charity are recognised as incoming resources at their estimated market value when receivable.
Donated Goods
The Trustees have carefully considered the practicality of, and the benefit due to the users of the accounts, from valuing the donated goods for resale at the year end. However, due to the large number of small items, and the considerable time it would take, as well as the difficulty in achieving a realistic valuation, it has been decided to continue to recognise donated goods at the point of sale. In addition, the Trustees have concluded that the small movement of the stock held between years would not add to the information presented to users of the accounts.
Stock
Finished goods bought for resale to the clients are valued at the lower of cost and net realisable value.
Operating lease agreements
Rentals payable under operating leases are charged in the profit and loss account on a straight-line basis over the period of the lease.
Pension costs
The Charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Accounting for separate funds
The financial statements of a charity must differentiate between Restricted and Unrestricted funds.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors.
Unrestricted funds are all the other funds of the charity.
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2. DONATIONS AND GRANTS
| 2021 | 2021 | 2021 | 2020 | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| £ | £ | £ | £ | |
| Grants | 19,431 | 15,686 | 35,117 | 1,248 |
| Donations | 161 | - | 161 | 421 |
| ---------- | ---------- | ---------- | -------- | |
| Total | 19,592 | 15,686 | 35,278 | 1,669 |
| ---------- | ---------- | ---------- | -------- |
3. NET OUTGOING RESOURCES FOR THE YEAR
| This is stated after charging: | 2021 | 2020 |
|---|---|---|
| £ | £ | |
| Independent Examination Fee | 500 | 500 |
| Depreciation | 3,107 | 3,476 |
4. TRUSTEES’ REMUNERATION
No trustee was remunerated in the year (2020: £nil). No expenses were reimbursed to Trustees (2020: £nil)
5. STAFF COSTS
The staff costs shown in Note 6 relate to six employees (2020: 5). No employee earned more than £60,000 (2020: nil).
The average number of employees for the year ended 31 March 2021 was 5 (2020: 5), being an average of 3 full time equivalent (2020: 2). The amounts paid to employees were:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Gross Pay | 75,169 | 51,552 |
| Social Security costs | 979 | - |
| Pension Payments | 1,434 | 1,155 |
6. TOTAL EXPENDITURE
| Furniture Store | Governance | Total | Total | |
|---|---|---|---|---|
| 2021 | 2021 | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Cost of Beds Sold | 8,092 | 8,092 | 10,037 | |
| Salaries & National Insurance | 76,148 | 76,148 | 51,836 | |
| Pension Contributions | 1,434 | 1,434 | 1,155 | |
| Volunteer & Staff Expenses | 171 | 171 | 323 | |
| Uniform | 635 | 635 | - | |
| Training | 450 | 450 | - |
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| Rent & Rates | 16,000 | 16,000 | 15,857 | |
|---|---|---|---|---|
| Insurance | 4,620 | 4,620 | 3,245 | |
| Electricity, Gas & Water | 2,443 | 2,443 | 2,777 | |
| Maintenance & cleaning | 2,416 | 2,416 | 458 | |
| Covid related Cleaning | 1,116 | 1,116 | - | |
| Appliance Testing & Workshop | 835 | 835 | 1,228 | |
| Van Repairs | 864 | 864 | 1,310 | |
| Van Fuel | 925 | 925 | 1,534 | |
| Telephone & Broadband | 649 | 649 | 601 | |
| Card Machine | 1,161 | 1,161 | 1,005 | |
| Computer | 1,324 | 1,324 | 1,505 | |
| Postage | 64 | 64 | 128 | |
| Stationery | 288 | 288 | 262 | |
| Bank & Card charges | 24 | 24 | 1 | |
| Marketing | 60 | 60 | 225 | |
| Membership & Conference | (310) | (310) | 606 | |
| Sundry | 259 | 259 | 883 | |
| Equipment <£250 | 551 | 551 | 543 | |
| Depreciation | 3,107 | 3,107 | 3,476 | |
| Support costs | 144 | 500 | 644 | 722 |
| ----------- | ------ | ------------ | ---------- | |
| Total Expenditure | 123,470 | 500 | 123,970 | 99,717 |
| ----------- | ------ | ------------ | ---------- |
7. SUPPORT COSTS
| . SUPPORT COSTS | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Store | Store | |
| Independent Examination | 500 | 500 |
| Recruitment & Payroll Bureau | 144 | 222 |
| ------------ | ---------- | |
| 644 | 722 | |
| ------------ | ---------- |
8. TANGIBLE ASSETS
| Leasehold | Plant & | Van | Total | |
|---|---|---|---|---|
| Improvements | Equipment | |||
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 April 2020 | 9,816 | 15,715 | 22,414 | 47,945 |
| Additions | 597 | - | - | 597 |
| At 31 March 2021 | 10,413 | 15,715 | 22,414 | 48,542 |
| Depreciation | ||||
| At 1 April 2020 | 9,731 | 12,475 | 16,762 | 38,968 |
| Charge for the Year | 96 | 1,598 | 1,413 | 3,107 |
| At 31 March 2021 | 9,827 | 14,073 | 18,175 | 42,075 |
| Net Book Value | ||||
| As at 31 March 2021 | 586 | 1,642 | 4,239 | 6,467 |
| 14 |
As at 31 March 2020
8,977
86
3,239
5,652
9. DEBTORS
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade Debtors | 485 | 131 |
| Prepayment & Accrued Income | 15,448 | 14,453 |
| Other Debtors | 607 | - |
| --------- | ---------- | |
| Total | 16,540 | 14,584 |
| --------- | ---------- |
10. CREDITORS (amounts falling due within one year)
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade Creditors | 5,910 | 1,461 |
| Accrual & Other Creditors | 1,492 | 963 |
| Other Taxation & Social Security | 3,245 | 2,117 |
| --------- | ---------- | |
| 10,647 | 4,541 | |
| --------- | ---------- |
11. RESTRICTED FUNDS
| At 1 April | Incoming | Outgoing | Transfers | At 31 March | |
|---|---|---|---|---|---|
| 2020 | 2021 | ||||
| £ | £ | £ | £ | £ | |
| North Yorkshire CC | 141 | 2,522 | (2,663) | - | - |
| Job Retention Scheme | - | 13,164 | (13,164) | - | - |
| -------- | ---------- | ------------ | ---- | ---- | |
| Total | 141 | 15,686 | (15,827) | - | - |
| -------- | ---------- | ------------ | ---- | ---- |
Purpose of Restricted funds
In 2018-19, North Yorkshire County Council offered a grant of £1,000 towards the purchase of desks, office equipment and carpet tiles for the offices of Essential Needs. The balance of £141 was spent during 20-21. NYCC granted £822 towards the cost of staff uniforms and display racking in Store. In addition, NYCC granted £1,700 towards First Aid training for key staff and the cost of three Health & Safety reports. All these funds were fully spent in the year to 31 March 2021.
In 2020-21 the Charity received grants of £13,164 from HMRC to assist with salary costs during the Store closure, due to national Lockdown restrictions for non-essential shops. All these funds were spent in the year.
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12. NET ASSET SUMMARY
| Restricted Funds | Unrestricted Funds | Total Funds at 31 | |
|---|---|---|---|
| March 2021 | |||
| £ | £ | £ | |
| Tangible Fixed Assets | - | 6,467 | 6,467 |
| Current Assets | 2,016 | 15,119 | 17,135 |
| Cash at Bank/In Hand | (2,016) | 67,999 | 65,983 |
| Current Liabilities | - | (10,647) | (10,647) |
| --------- | ----------- | ----------- | |
| Total Net Assets | - | 78,938 | 78,938 |
| --------- | ----------- | ----------- |
13. FINANCIAL COMMITMENTS
The Charity took up three-year lease for the Back Gladstone Street premises, from 1 October 2019 with annual rent at £16,000 and annual buildings insurance of £673
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Due within one year | 15,453 | 16,673 |
| Due between two and five years | 9,602 | 25,010 |
| ---------- | ----------- | |
| Total amount payable | 25,055 | 41,683 |
| ---------- | ----------- |
14. PENSION COMMITMENTS
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension charge represents the contributions payable by the Charity to the fund and amounted to £1,434 (2020: £1,155).
15. CONTROL RELATIONSHIPS
As the Charity is limited by guarantee without share capital no individual has overall control of the Charity.
16. RELATED PARTY TRANSACTIONS
Trustee remuneration and benefits
During the year, no Trustee received any remuneration or benefits (2020: £nil).
Trustee Expenses
During the year, no Trustee was paid any expenses (2020: £nil).
Key Management Personnel
In the year ended 31 March 2020 key management personnel were paid remuneration of £31,797 (2020: £26,088).
There were no other related party transactions in the year ended 31 March 2021 (2020: £Nil).
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