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2021-07-31-accounts

REGISTERED COMPANY NUMBER: 05180851 (England and Wales) REGISTERED CHARITY NUMBER: 1110072

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 July 2021

for

Letchworth Garden City Community Group

Salway and Wright Chartered Accountants 32 The Crescent Spalding Lincolnshire PE11 1AF

Letchworth Garden City Community Group

Contents of the Financial Statements for the Year Ended 31 July 2021

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 9
Detailed Statement of Financial Activities 10

Letchworth Garden City Community Group

Report of the Trustees for the Year Ended 31 July 2021

LEGAL AND ADMINISTRATIVE INFORMATION

Directors: M. Foster J. King K. Lake I. Mantle Ex Officio: North Hertfordshire District Council representative None currently Company Number: 5180851 (England and Wales) Registered Charity Number: 1110072 (England and Wales) Charity Trustees: M. Foster J. King K. Lake Registered Office and Operating Address: Mrs. Howard Memorial Hall Norton Way South Letchworth Garden City Hertfordshire SG6 1NX Accountants: Salway and Wright 32 The Crescent Spalding Lincolnshire PE11 1AF Bankers: HSBC Station Place Letchworth Garden City SG6 3AJ

Page 1

Letchworth Garden City Community Group

Report of the Trustees

for the Year Ended 31 July 2021

The trustees, who are also the directors for the purpose of company law, present their annual report, together with the unaudited financial statements for the year ended 31 July 2021.

OBJECTIVES AND ACTIVITIES

In overseeing the charities objectives and activities, the trustees have had regard to the Charity Commission’s guidance on public benefit.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Achievements and Performance and Financial Review

At the balance sheet date LGCCG held funds of £187,185 (2020 £183,665).

The statement of financial activities shows net incoming resources of £3,520 for the year, due to Coronavirus support received of £22,189 (2020 £6,739), compared to £5,955 for the previous year. All monies currently held are unrestricted for this period.

The policy of the charity is to maintain unrestricted reserves at £40,000 which equates to approximately six months unrestricted expenditure, providing sufficient funds to cover management and administration and support costs in the event of the lease not being upheld. This policy will be kept under review.

Risk Review

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves, combined with an annual review of the controls over key financial systems will provide sufficient resources for normal operating risks. The trustees have also examined other operation and business risks which are faced and confirm they have established systems to mitigate significant risks.

REFERENCE AND ADMINISTRATIVE DETAILS

This information is shown separately on page 1.

Page 2

Letchworth Garden City Community Group

Report of the Trustees

for the Year Ended 31 July 2021

TRUSTEES' REPORT

The Directors have remained unchanged during the year. Covid -19 ensured that the building was closed for extensive periods of the early reporting year. The building operated fully in compliance with Government legislations regarding the lockdown/opening periods. The Foodbank was operational supporting local people and families through charitable food and donation programmes and Funzone continued to support the children of key workers by providing limited childcare. Although lockdown restrictions were eased the rule of six and other Covid restraints prevented the building from opening to anywhere near pre-Covid levels.

The financial constraints on the Charity meant that the building manager was furloughed and the building caretaker was retained to operate the building in its limited capacity.

Regular hirers that could no longer operate were given assurances that their rooms/bookings would be honoured on reopening and in some instances payment plans were negotiated with hirers, so that drops in income, prior to the bookings being suspended, could be supported by LGCCG. The board felt that it was critical to support building hirers and users throughout this difficult time.

We continue to be able to charge charities a lower hire rate to ensure that all sections of the community are able to access the Centre. This charging policy evidences that he Charity's activities are for the public benefit.

There were very few capital works/maintenance tasks undertaken in the building primarily due to the majority of the building being closed and also to maintain prudence regarding income/expenditure.

A Covid safe protocol was implemented and maintained vigorously, giving confidence to the limited users that were able to operate.

The building lease negotiations were suspended in agreement with all parties concerned. It was agreed that once the process could be moved forward, it would be, as the essential components had already been agreed and it was just a case of the legalities being resolved.

Lockdown restrictions eased further towards Spring/Summer which along with the implementation of the vaccination programme, meant that hirers/users started to have confidence in returning and using the premises again. Use of the building started to gain momentum and once again started to flourish becoming operational 7 days per week and virtually at capacity. Some of the revenue that had been lost will be recouped as the maintenance spend will not be as great as that for other years due to the length of time the building remained closed or at limited operation.

Future Plans for 202//22 and beyond

The board will continue to review the procedures and operating protocols in the light of Covid-19 to ensure that the Community Facility is used as extensively and inclusively as possible within ongoing Government advice. The heating system grants will be secured and the works carried out to completion. It is hoped that the renewal of the lease will finally be approved. The LGCCG board alongside the building management staff will continue to maintain the standards expected so that the local community and other stakeholders continue to benefit and be served.

Approved by order of the board of trustees on 10 March 2022 and signed on its behalf by:

J H King - Trustee

Page 3

Independent Examiner's Report to the Trustees of Letchworth Garden City Community Group

Independent examiner's report to the trustees of Letchworth Garden City Community Group ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  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.

A.D. Wood Chartered Accountant Salway and Wright Chartered Accountants 32 The Crescent Spalding Lincolnshire PE11 1AF

10 March 2022

Page 4

Letchworth Garden City Community Group

Statement of Financial Activities

for the Year Ended 31 July 2021

31.7.21
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Letting income
40,414
Other income
22,189
Total
62,603
EXPENDITURE ON
Charitable activities
Operational costs
57,655
Other
1,428
Total
59,083
NET INCOME
3,520
RECONCILIATION OF FUNDS
Total funds brought forward
183,665
TOTAL FUNDS CARRIED FORWARD
187,185		 31.7.20
Total
funds
£
69,837
6,736
76,573
68,725
1,893
70,618
5,955
177,710
183,665

The notes form part of these financial statements

Page 5

Letchworth Garden City Community Group

Balance Sheet

31 July 2021

31.7.21
Unrestricted
fund
Notes
£
CURRENT ASSETS
Cash at bank
187,743
CREDITORS
Amounts falling due within one year
4
(558)
NET CURRENT ASSETS
187,185
TOTAL ASSETS LESS CURRENT
LIABILITIES
187,185
NET ASSETS
187,185
FUNDS
5
Unrestricted funds:
General fund
187,185
TOTAL FUNDS
187,185		 31.7.20
Total
funds
£
184,225
(560)
183,665
183,665
183,665
183,665
183,665

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 10 March 2022 and were signed on its behalf by:

J H King - Trustee

M Foster - Trustee

The notes form part of these financial statements

Page 6

Letchworth Garden City Community Group

Notes to the Financial Statements for the Year Ended 31 July 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2021 nor for the year ended 31 July 2020.

continued...

Page 7

Letchworth Garden City Community Group

Notes to the Financial Statements - continued for the Year Ended 31 July 2021

3. STAFF COSTS

The average monthly number of employees during the year was as follows:

Centre manager
Caretakers
No employees received emoluments in excess of £60,000.
4.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
5.
MOVEMENT IN FUNDS
At 1.8.20
£
Unrestricted funds
General fund
183,665
TOTAL FUNDS
183,665
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
62,603
TOTAL FUNDS
62,603
Comparatives for movement in funds
At 1.8.19
£
Unrestricted funds
General fund
177,710
TOTAL FUNDS
177,710		 31.7.21
31.7.20
1
1
1
1
2
2
31.7.21
31.7.20
£
£
558
560
Net
movement
At
in funds
31.7.21
£
£
3,520
187,185
3,520
187,185
Resources
Movement
expended
in funds
£
£
(59,083)
3,520
(59,083)
3,520
Net
movement
At
in funds
31.7.20
£
£
5,955
183,665
5,955
183,665

continued...

Page 8

Letchworth Garden City Community Group

Notes to the Financial Statements - continued for the Year Ended 31 July 2021

5. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
76,573
TOTAL FUNDS
76,573
A current year 12 months and prior year 12 months combined position is as follows:
At 1.8.19
£
Unrestricted funds
General fund
177,710
TOTAL FUNDS
177,710		 Resources
Movement
expended
in funds
£
£
(70,618)
5,955
(70,618)
5,955
Net
movement
At
in funds
31.7.21
£
£
9,475
187,185
9,475
187,185

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 139,176 (129,701) 9,475
TOTAL FUNDS 139,176 (129,701) 9,475

6. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2021.

Page 9

Letchworth Garden City Community Group

Detailed Statement of Financial Activities for the Year Ended 31 July 2021

Detailed Statement of Financial Activities
for the Year Ended 31 July 2021
31.7.21 31.7.20
£ £
INCOME AND ENDOWMENTS
Charitable activities
Letting income 40,414 69,837
Other income
CJRS Grant 22,189 6,736
Total incoming resources 62,603 76,573
EXPENDITURE
Charitable activities
Wages 38,377 38,996
Pensions 909 878
Rates and water 1,547 1,564
Insurance 1,766 2,041
Light and heat 5,168 3,133
Telephone 2,602 1,527
Postage and stationery - 104
Cleaning and repairs 3,864 15,781
Computer costs 120 330
Security costs 2,780 2,225
Sundry expenses 500 2,120
Subscription 22 26
57,655 68,725
Support costs
Governance costs
Accountancy and bookkeeping 1,415 1,508
Legal fees 13 385
1,428 1,893
Total resources expended 59,083 70,618
Net income 3,520 5,955

This page does not form part of the statutory financial statements

Page 10