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2020-07-31-accounts

REGISTERED COMPANY NUMBER: 05516972 (England and Wales) REGISTERED CHARITY NUMBER: 1112485

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020

FOR

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5 to 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 19
Detailed Statement of Financial Activities 20 to 21

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2020. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the charity are to promote for the benefit of the inhabitants of the southern quarter of Northampton, without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together inhabitants and statutory authorities, voluntary and other organisations, in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation, with the object of improving the conditions of life of the said inhabitants.

The activities of the charity are the hiring of rooms space to individuals, groups or organisations that require space to carry out their own activities for the inhabitants of the southern quarter of Northampton and beyond. The charity also assists in helping local residents to form groups to provide recreation, social and leisure activities for the community.

Public benefit

The trustees have had regard to the guidance on public benefit issued by the Charity Commission, and believe that the activities and aims stated above meet the requirement of being a public benefit.

Page 1

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020

ACHIEVEMENT AND PERFORMANCE

Far Cotton REC Centre is still very popular with training courses, conferences and meetings in the week as well as many regular groups including a church on Sundays, dancing lessons on a Monday & Thursday for beginners and intermediates offered by Adult Learning. We also have another regular dance class along with keep fit and a local History Group. There are also NHS clinics in our back room.

We continue to offer a buffet service for meetings and training and have built a reputation for providing good affordable home made food, which has resulted in catering for private functions. At both our centres we have been awarded a 5* rating, and all staff are Level 2 Food Hygiene trained.

Delapre Community Rooms hosts many groups and activities, including dance classes, karate, keep fit, and we provide Free School Meals for Delapre primary school, as well as breakfast club and after school club . We continue to work in partnership with Delapre Primary School on various projects.

Squidge Breakfast Club is still well attended with average 40 children a day attending. We have a large menu so the children have a choice of breakfast, so they have a good start to the day. We use a 'walking bus' to get the children to school.

Squidge After School Club is also well attended, with many activities for the children including art and craft, lego, play kitchen, dolls, cars, dressing up and in the good weather we have an outside area, with balls, scooters etc. We use a 'walking bus' to get the children from school to Delapre Community Rooms and the children are given a snack on arrival.

Our pottery room is still well used with pottery classes offered twice a week.

We were moving forward with hope and enthusiasm since our costly repairs of last year when the pandemic hit. From 19th March we could not open to groups. We suddenly lost 95% of our income. The NHS then asked to hire our rooms to run clinics because the hospitals were not able to accommodate them. We very happily let them hire both Far Cotton REC Centre and Delapre Community Rooms to bring in some much needed income.

We were able to offer Breakfast & After School Clubs to key worker children still attending school, and we still offered free school meals to all children entitled, with parents collecting daily from Delapre Community Rooms. However, we had to furlough seven staff. We did manage to pay them the 20% so their families did not struggle.

We then completely diversified because we were hearing of families in NN4 who were struggling because they had suddenly lost either all of their income or 20% of it. We were having families referred to us who had no food etc. We applied for funding from Northamptonshire Community Foundation, and were awarded a grant, which we used to provide packed lunches, hot dinners and food parcels. The local community that were able to help, provided food donations. This was still the situation as at July 2020, and we applied for a further grant to continue the work.

We received a letter of thanks from the High Sheriff of Northampton thanking us for the work we were doing through the pandemic, and as we write this report we have heard that we have been nominated for and awarded a Rose of Northamptonshire Award for our work with families through the pandemic, which we are very proud of.

No-one knows when or how this will ever return to normal, so we continue on a day to day basis.

FINANCIAL REVIEW

Reserves policy

The charity seeks to maintain reserves at a level of 3 to 6 months expenditure.

At the year end total reserves were £43,281of which £11,333 was restricted (2019: £64,185 total, of which £12,152 was restricted). During the year a deficit of £20,904 (2019: surplus of £20,140) was made.

Page 2

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Trustees are recruited from the local community and are elected by the members. Induction is achieved by meeting with the Chair and company secretary and by the supply of accounts and other documentary information.

Organisational structure

Day to day management of the charity's activities is delegated to Ms L E Russell.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

05516972 (England and Wales)

Registered Charity number

1112485

Registered office

10 Templar Drive Northampton NN2 8HS

Trustees

B J Glynane Ms C E Haynes Mrs J Roff (resigned 28/2/21) Ms V Cooke (resigned 1/5/21)

Company Directors

B J Glynane Ms C E Haynes Mrs L E Russell

Company Secretary

Mrs L E Russell

Independent Examiner

DNG Dove Naish LLP Chartered Accountants Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ

Page 3

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 26[th] July 2021 and signed on its behalf by:

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SOUTHERN QUARTER DEVELOPMENT LIMITED

Independent examiner's report to the trustees of The Southern Quarter Development Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2020.

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.

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SOUTHERN QUARTER DEVELOPMENT LIMITED

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our independent examination work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our independent examination work, for this report, or for the opinions we have formed.

N Fox FCA DNG Dove Naish LLP Chartered Accountants Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ Date: 28 July 2021

Page 6

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2020

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
35,745
Other trading activities
3
146,449
Investment income
4
87
Total
182,281
EXPENDITURE ON
Raising funds
Other trading activities
13,231
13,231
Charitable activities
5
Direct
183,431
Management
4,046
Total
200,708
NET INCOME/(EXPENDITURE)
(18,427)
Transfers between funds
16
(1,658)
Net movement in funds
(20,085)
RECONCILIATION OF FUNDS
Total funds brought forward
52,033
TOTAL FUNDS CARRIED FORWARD
31,948		 Restricted
funds
£
6,163
-
-
6,163
7,821
7,821
819
-
8,640
(2,477)
1,658
(819)
12,152
11,333		 2020
Total
funds
£
41,908
146,449
87
188,444
21,052
21,052
184,250
4,046
209,348
(20,904)
-
(20,904)
64,185
43,281		 2019
Total
funds
£
1,333
200,977
42
202,352
15,018
15,018
164,032
3,162
182,212
20,140
-
20,140
44,045
64,185

The notes form part of these financial statements

Page 7

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

BALANCE SHEET 31 JULY 2020

Unrestricted
Restricted
fund
funds
Notes
£
£
FIXED ASSETS
Tangible assets
12
1,091
-
CURRENT ASSETS
Debtors
13
36,361
-
Cash at bank and in hand
23,114
11,333
59,475
11,333
CREDITORS
Amounts falling due within one year
14
(28,618)
-
NET CURRENT ASSETS
30,857
11,333
TOTAL ASSETS LESS CURRENT
LIABILITIES
31,948
11,333
NET ASSETS
31,948
11,333
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2020
Total
funds
£
1,091
36,361
34,447
70,808
(28,618)
42,190
43,281
43,281
31,948
11,333
43,281		 2019
Total
funds
£
385
34,776
55,260
90,036
(26,236)
63,800
64,185
64,185
52,033
12,152
64,185

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 8

continued...

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

BALANCE SHEET - continued 31 JULY 2020

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 26[th] July 2021 and were signed on its behalf by:

The notes form part of these financial statements

Page 9

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

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

Government grants

Grants received from the Government are included in the Statement of Financial Activities once there is reasonable assurance the charity will comply with the conditions to the grant and the grant will be received.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on cost Computer equipment - 25% on cost

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Taxation

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

Page 10

continued...

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

1. ACCOUNTING POLICIES - continued

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.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the statement of financial activities. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

2. DONATIONS AND LEGACIES

Grants
Grants received, included in the above, are as follows:
Northampton Borough Council
Government Grants - CJRS
Northamptonshire Community Foundation
Other grant providers
JRB Arts Foundation		 2020
£
41,908
2020
£
20,000
15,745
6,000
163
-
41,908		 2019
£
1,333
2019
£
-
-
-
-
1,333
1,333

Page 11

continued...

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

3. OTHER TRADING ACTIVITIES

Catering income
After school club
Breakfast Club fees
Room hire
Cleaning income
Healthy meals		 2020
£
5,667
15,768
1,261
50,127
9,084
64,542
146,449		 2019
£
8,662
18,294
6,175
78,050
5,614
84,182
200,977

4. INVESTMENT INCOME

Interest receivable
5.
CHARITABLE ACTIVITIES COSTS
Direct
Management
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Breakfast club costs
After school club
Healthy meals
Depreciation		 Direct
Costs (see
note 6)
£
38,648
-
38,648		 2020
£
87
Support
costs (see
note 7)
£
145,602
4,046
149,648
2020
£
2,687
915
34,554
492
38,648		 2019
£
42
Totals
£
184,250
4,046
188,296
2019
£
670
1,125
29,358
193
31,346

Page 12

continued...

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

7. SUPPORT COSTS

Management
£
Direct
144,042
Management
3,858
147,900		 Governance
Finance
costs
£
£
-
1,560
188
-
188
1,560		 Totals
£
145,602
4,046
149,648

Support costs, included in the above, are as follows:

Management

Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Rent
Repairs & renewals
Cleaning
Training costs
Finance
Bank charges
Governance costs
Independent Examiners' Remuneration		 2020
Total
Direct
Management
activities
£
£
£
109,122
-
109,122
1,550
-
1,550
725
-
725
918
-
918
1,006
-
1,006
6,379
-
6,379
-
1,876
1,876
-
1,302
1,302
-
680
680
14,990
-
14,990
7,195
-
7,195
2,157
-
2,157
-
-
-
144,042
3,858
147,900
2020
Management
£
188
2020
Direct
£
1,560		 2019
Total
activities
£
101,593
935
436
624
1,316
9,204
2,059
901
-
8,555
5,386
3,351
50
134,410
2019
Total
activities
£
202
2019
Total
activities
£
1,236

Page 13

continued...

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Independent Examiners' Remuneration
Depreciation - owned assets		 2020
£
1,560
493		 2019
£
1,236
192

Independent examiners' remuneration is made up of the following components of charge:

Fees for independent examination
Fees for statutory accounts preparation		 2020
£
810
750
1,560		 2019
£
486
750
1,236

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2020 nor for the year ended 31 July 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2020 nor for the year ended 31 July 2019.

10. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2020
£
109,122
1,550
725
111,397		 2019
£
101,593
935
436
102,964

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

2020 2019
Administration 10 12

No employees received emoluments in excess of £60,000.

The total remuneration paid to key management personnel was £26,795 (2019: £25,364).

L Russell is a director of the company, but not a trustee. During the year she was paid, as an employee of the charitable company total remuneration of £26,795 (2019: £26,364), as permitted per the Company's Memorandum of Association, for her role as the manager of the charitable company.

Page 14

continued...

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
-
Other trading activities
200,977
Investment income
42
Total
201,019
EXPENDITURE ON
Raising funds
Other trading activities
15,018
15,018
Charitable activities
Direct
164,032
Management
3,162
Total
182,212
NET INCOME
18,807
RECONCILIATION OF FUNDS
Total funds brought forward
33,226
TOTAL FUNDS CARRIED FORWARD
52,033		 Restricted
funds
£
1,333
-
-
1,333
-
-
-
-
-
1,333
10,819
12,152		 Total
funds
£
1,333
200,977
42
202,352
15,018
15,018
164,032
3,162
182,212
20,140
44,045
64,185

Page 15

continued...

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

12. TANGIBLE FIXED ASSETS

Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 August 2019
29,578
2,011
Additions
-
1,199
Disposals
-
(1,532)
At 31 July 2020
29,578
1,678
DEPRECIATION
At 1 August 2019
29,193
2,011
Charge for year
193
300
Eliminated on disposal
-
(1,532)
At 31 July 2020
29,386
779
NET BOOK VALUE
At 31 July 2020
192
899
At 31 July 2019
385
-
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020
£
Trade debtors
28,304
Prepayments and accrued income
8,057
36,361
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020
£
Social security and other taxes
4,448
Other creditors
159
Accruals and deferred income
24,011
28,618		 Totals
£
31,589
1,199
(1,532)
31,256
31,204
493
(1,532)
30,165
1,091
385
2019
£
31,525
3,251
34,776
2019
£
150
5,000
21,086
26,236

Page 16

continued...

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2020
£
14,550
19,800
34,350		 2019
£
12,750
26,550
39,300

16. MOVEMENT IN FUNDS

Net
movement
At 1/8/19
in funds
£
£
Unrestricted funds
General fund
52,033
(18,427)
Restricted funds
Community link worker
819
(819)
Music and Arts Fund
11,333
-
Northamptonshire Community
Foundation
-
(1,658)
12,152
(2,477)
TOTAL FUNDS
64,185
(20,904)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
182,281
Restricted funds
Community link worker
-
Northamptonshire Community
Foundation
6,163
6,163
TOTAL FUNDS
188,444		 Transfers
between
At
funds
31/7/20
£
£
(1,658)
31,948
-
-
-
11,333
1,658
-
1,658
11,333
-
43,281
Resources
Movement
expended
in funds
£
£
(200,708)
(18,427)
(819)
(819)
(7,821)
(1,658)
(8,640)
(2,477)
(209,348)
(20,904)

Page 17

continued...

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1/8/18
£
Unrestricted funds
General fund
33,226
Restricted funds
Community link worker
819
Music and Arts Fund
10,000
10,819
TOTAL FUNDS
44,045
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
201,019
Restricted funds
Music and Arts Fund
1,333
TOTAL FUNDS
202,352		 Net
movement
At
in funds
31/7/19
£
£
18,807
52,033
-
819
1,333
11,333
1,333
12,152
20,140
64,185

Resources
Movement
expended
in funds
£
£
(182,212)
18,807
-
1,333
(182,212)
20,140

The restricted funds are for the following purposes:

A grant from Delapre Primary School supports the employment of a community link worker.

A grant from JRB supports music and arts activities for primary school children.

A grant from Northamptonshire Community Foundation is for providing food parcels, hot dinners and packed lunches during the Covid-19 pandemic.

The transfer from General fund to Northamptonshire Community Foundation fund is due to an overspend on the Northamptonshire Community Foundation fund.

Page 18

continued...

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

17. RELATED PARTY DISCLOSURES

There were no related party transaction for the year ended 31 July 2020 and the year ended 31 July 2019.

Page 19

THE SOUTHERN QUARTER DEVELOPMENT LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020

INCOME AND ENDOWMENTS
Donations and legacies
Grants
Other trading activities
Catering income
After school club
Breakfast Club fees
Room hire
Cleaning income
Healthy meals
Investment income
Interest receivable
Total incoming resources
EXPENDITURE
Other trading activities
Purchases
Bad debts
Charitable activities
Breakfast club costs
After school club
Healthy meals
Depreciation of tangible fixed assets
Support costs
Management
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Carried forward		 2020
£
41,908
5,667
15,768
1,261
50,127
9,084
64,542
146,449
87
188,444
19,056
1,996
21,052
2,687
915
34,554
492
38,648
109,122
1,550
725
918
1,006
6,379
1,876
1,302
680
123,558		 2019
£
1,333
8,662
18,294
6,175
78,050
5,614
84,182
200,977
42
202,352
14,928
90
15,018
670
1,125
29,358
193
31,346
101,593
935
436
624
1,316
9,204
2,059
901
-
117,068

This page does not form part of the statutory financial statements

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THE SOUTHERN QUARTER DEVELOPMENT LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020

Management
Brought forward
Rent
Repairs & renewals
Cleaning
Training costs
Finance
Bank charges
Governance costs
Independent Examiners' Remuneration
Total resources expended
Net (expenditure)/income		 2020
£
123,558
14,990
7,195
2,157
-
147,900
188
1,560
209,348
(20,904)		 2019
£
117,068
8,555
5,386
3,351
50
134,410
202
1,236
182,212
20,140

This page does not form part of the statutory financial statements

Page 21