2020-12-31-accounts

BAKEWELL TOWN & COMMUNITY TRUST

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS FOR 31 DECEMBER 2020

Company Registration Number 5687413 Charity Number 1113707

DERBY COMMUNITY ACCOUNTANCY SERVICE

Babington Lodge 128 Green Lane Derby DE1 1RY

BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

Contents	Page
Members of the board and professional advisers	1
Trustees’ annual report annual report	2-6
Independent Examiner’s Report	7
Statement of financial activities	8
Balance sheet	9
Notes to the financial statements	10-18

BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

The Board of Trustees

The Directors of the charitable company (the Charity) are its Trustees for the purpose of Charity Law and throughout this report are collectively referred to as the trustees.

Directors Mrs. E. Edwards (resigned 24 November 2020) Mrs. H. Horrod Mr. M. J. R. Horrod (appointed 24 November 2020 Mrs P. E. Lunn Mrs. R. Rose Company secretary Mrs P. E. Lunn Registered office Riversdale Farm, Coombs Road, Bakewell, DE45 1AR Trading Address Bakewell Town Hall The Square Bakewell DE45 1BT Independent Examiner Derby Community Accountancy Service Babington Lodge 128 Green Lane Derby DE1 1RY

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

The Trustees, who are also Directors for the purposes of the Companies Act, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ending 31 December 2020.

STRUCTURE , GOVERNANCE AND MANAGEMENT

Governing document

Bakewell Town and Community Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated 5 December 2005. It was registered at Companies House on 25 January 2006 and was registered as a charity with the Charity Commission on 7 April 2006. Membership of the Trust is open to anyone over 18 years of age and local organisations within Bakewell and surrounding area. Members agree to contribute £10 in the event of the charity being wound up.

Trustees

The Trustees are charged with taking forward the management and maintenance of Bakewell Town Hall as a public asset managed and refurbished through a charitable organisation.

Under the Memorandum and Articles of Association one-third of the Directors are required to retire at each annual general meeting.

Trustee Induction and Training

All trustees have been provided with information packs on their roles and responsibilities and are encouraged to attend appropriate external training events.

Organisation

The Board of Trustees administers the Charity. It meets regularly and is supported by staff and volunteers.

Risk Management

The Trustees have recognised risks that the Charity may face in relation to the implementation of the business plan.

OBJECTIVES AND ACTIVITIES

The objects of the charity are:

• A. To preserve and restore for the benefit of the Public the Bakewell Town Hall, being of constructional, architectural or historical heritage.

• B. To advance education and to provide or assist in the provision of facilities in the interest of social welfare for recreation or other leisure time occupation of

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

individuals and community groups who have need of such facilities by reason of their youth, age, infirmity, or disability, financial hardship or social circumstances with the object of improving their conditions of life.

• C. To promote other such charitable purpose for the general benefit of the Public Residents of Bakewell and the surrounding area.

The main objectives for the year have been:

• To retain and improve revenue streams required to support the Trust and the Town Hall Project.

• To continue to explore potential sources of capital funding to enable further modernisation of the Town Hall.

• To continue research to recognise new users from both the Community and Businesses within Bakewell and the surrounding area to justify such investments.

• To keep under review the business plan.

• To undertake further consultations on proposals for the Town Hall refurbishment including a major upgrade of the heating and electricity systems.

• To upgrade computer facilities and marketing tools.

• To promote membership of the trust within the community.

SUMMARY OF THE MAIN ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT IN RELATION TO THESE OBJECTS

In planning our activities for the year we kept in mind the Charity Commission’s guidance on public benefit at our trustees meetings ensuring that an acceptable proportion of use is by community groups.

The membership of the Charity is open to all individuals irrespective of race, gender or any other personal circumstances.

ACTIVITIES AND ACHIEVEMENTS

A first priority is to ensure that the building meets statutory requirements. The principal focus continues to remain on security, health and safety issues, fire safety and urgent repairs and renewals. Consideration of a refurbishment and improvement programme is on-going and minor improvements have been made. Consultants have been engaged to provide advice on the heating and electrical systems.

The year started on a very optimistic note with a good level of bookings and a programme of events from comedy night, classical concerts to streaming National Theatre Live, in many cases tickets sold out well in advance.

The imposition of Government measures to combat the pandemic resulted in total lockdown with bookings cancelled or postponed. Staff were put on much reduced hours with new ways

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

of working introduced. Following a complete overhaul of IT facilities both our Centre Manager and our Accountant have been working remotely with only the occasional necessary visit to the office. Government financial support has been secured without which the Trust could have been in a difficult financial position.

A first priority has been to ensure that the building meets statutory requirements and all necessary health and safety measures as required have been put in place including our own QR code for monitoring purposes. We are therefore in a position to open facilities to our regular users in accordance with the phased easing of restrictions.

The consultants final report on the upgrading of the heating and electrical services was received shortly before lockdown measures were put in place. As a result this was put on hold.

RISK MANAGEMENT

The Trustees recognise the risks in relation to implementation of the business plan as the Charity seeks to establish a firm financial base to meet its responsibility for the day-to-day management of the Town Hall and internal refurbishment:

• Timing of works: deterioration of the fabric of the building and equipment may be greater than currently known, requiring shorter implementation period for work to be undertaken.

• Impact of the current economic climate on revenue stream resulting in adverse cash flow.

• Adequate funding is denied for key areas as a number of grant opportunities are not open to us and finding suitable funding options is becoming harder and may slow our ability to achieve all our aims.

• Match funding cannot be found.

• Voluntary support for the work of the Trust is not sustained and new experienced Directors do not come forward to aid succession planning.

FINANCIAL REVIEW.

In addition to membership fees, financial support has been received during this period from: Bakewell Town Council, Derbyshire County Council Members Fund, the Derbyshire Foundation, and private donations. We continue to tightly control operating costs. Whilst considerable progress has been made in working towards a break-even position with grant-funding support, this was not achieved due to Government restrictions.

Major improvements currently being considered for implementation within the next two years will be dependent on external funding being obtained. Much emphasis is now being placed on marketing our rapidly improving facilities and developing new business opportunities.

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

Government restrictions imposed during lockdown severely impacted on finances. The Trust received financial support through Government Grant Funding without which it would have been in a serious position. The year end positive outcome is in direct relation to the receipt of that funding which is gratefully acknowledged. This surplus will be needed to cushion the transition back into full operation during the coming year as lockdown measures are slowly eased and support grants are removed.

PLANS FOR FUTURE PERIODS

The prime objective is to efficiently manage and develop facilities within the Town Hall for the benefit of the community as a whole. We are looking to develop stronger ties with local organisations and to ensure that the development meets their needs, and to establish best business practice in the management of the Trust’s activities and the employment and welfare responsibilities of our staff. Further external funding is being sought, and marketing and promotion activities are ongoing.

TRUSTEES RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS

Company law requires the Trustees to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the trustees are required to:

• Select suitable accounting policies and then apply them consistently;

• Make sound judgements and estimates that are reasonable and prudent; and

• Prepare the financial statements on the going concern basis unless it is appropriate to presume that the charity will continue in business.

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Companies Act 2006. The Trustees 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.

In accordance with Company Law, as the Company’s Directors, we certify that:

• so far as we are aware, there is no relevant information of which the Company’s Independent Examiner is unaware; and

• as the Directors of the Company we have taken all the steps that we ought to have taken in order to make ourselves aware of any information relevant to the independent examination and to establish that the Charity’s Independent Examiner is aware of that information.

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

INDEPENDENT EXAMINERS

Derby Community Accountancy Services were appointed as independent examiners during the year and have expressed their willingness to continue in office. A resolution to re-appoint them as independent examiner will be put to the members at the annual general meeting.

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the special provisions for small companies under section 477 of the Companies Act 2006.

Approved by the trustees on 27 May 2021

Signed on behalf of the trustees:

P E LUNN

Patricia E. Lunn Director. The Board of Trustees

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BAKEWELL TOWN & COMMUNITY TRUST

YEAR ENDED 31 DECEMBER 2020

I report on the accounts for the period ended 31 December 2020 which are set out on pages 8 to 18.

Respective responsibilities of the trustees and examiner

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’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 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 which gives me cause to believe that in, any material respect:

• accounting records were not kept in accordance with section 130 of the Act or

• the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

M NEWEY

Mark Newey ACMA Date 27[th] May 2021 Derby Community Accountancy Service Babington Lodge 128 Green Lane Derby DE1 1RY

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2020

Note Income from: Donations plus gift aid 3 Charitable activities 4 Membership fees 5 Investment income 6 Total incoming resources Expenditure on: Raising funds Charitable activities Total expenditure 7 Net (expenditure) income Transfer between funds Net movement in funds Fund balances at 1 January 2020 Fund balances at 31 December 2020

Unrestricted Funds Restricted Funds Total Funds Year to 31 Dec 2020 Total Funds Year to 31 Dec 2019 £ £ £ £ 355 - 355 1,521 87,222 20,942 108,164 119,509 220 - 220 270 31 - 31 62 87,828 20,942 108,770 121,362 1,627 - 1,627 5,948 61,143 23,992 85,135 113,916 62,770 23,992 86,762 119,864 25,058 (3,050) 22,008 1,498 36 (36) - - 25,094 (3,086) 22,008 1,498 57,613 8,847 66,460 64,962 82,707 5,761 88,468 66,460

The company had no new or discontinued activities during the year.

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

BALANCE SHEET YEAR ENDED 31 DECEMBER 2020

Note Fixed assets Tangible assets 11 Current assets Debtors 12 Stock 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Net assets The funds of the charity: Restricted 15 Unrestricted – general reserves 15 TOTAL CHARITY FUNDS 16	2020 £ 9,878 559 74,076 84,513 3,759	£ 7,714 80,754 88,468 88,468 5,761 82,707 88,468	2019 £ 5,219 819 51,614 57,652 4,090	£ 12,898 53,562 66,460 66,460 8,847 57,613 66,460

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:-

• The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

• The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

These financial statements were approved by the directors and authorised for issue on 27 May 2021 and are signed on their behalf by:

P E LUNN

Patricia E. Lunn. Director

Company Registration Number: 5687413

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Company information

its Memorandum and Articles of Association dated 5 December 2005. It was registered at Companies House on 25 January 2006 and was registered as a charity with the Charity Commission on 7 April 2006. Membership of the Trust is open to anyone over 18 years of age and local organisations within Bakewell and surrounding area. Members agree to contribute £10 in the event of the charity being wound up.

1.1 Accounting convention

These accounts have been prepared in accordance with FRS 102, “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it apples from 1 January 2015. The charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in Sterling which is the functional currency of the company Monetary amounts in these financial statements to the nearest £.

The accounts have been prepared on historical cost convention apart from freehold property that is carried at market value. The principal accounting policies adopted are set out below.

These accounts for the year ended 31 December 2020 have been prepared in accordance with FRS 102 which is the Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2015 and there is no impact on the reported financial position and financial performance for the previous period by the transition to FRS 102.

1.2 Going concern

At the time of approving the accounts, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.

1.3 Charitable Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

1.4 Incoming resources

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in kind have been included at market value of gifts received and in assets acquired. No amounts are included in the financial statements for services donated by volunteers.

1.5 Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings which aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in the support of the charitable activities.

1.6 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.9 Financial instruments

The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits/

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

1.11 Taxation

The charity is exempt from tax on income and gains falling with section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

1.12 Depreciation

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:-

Asset Type	Depreciation Policy
Plant & Machinery	10%
Office Equipment	25%
Fixtures & Fittings	25%
First Floor Kitchen	15%
Ground Floor Kitchen	15%
Bar & Bar Room	15%
Stage	15%
Streaming Screen	25%
Sound system	25%

2. Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimated and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

3. Donations

			Total Funds	Total Funds
	Unrestricted	Restricted	Year to 31 Dec	Year to 31
	Funds	Funds	2020	Dec 2019
	£	£	£	£
Donations	355	-	355	1,521
Gift Aid	-	-	-	-
	---------------------------------	-----------------	---------------------------------	--------------------------------
	355	-	355	1,521
	================================	================	================================	================================

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

4. Income from charitable activities

			Total Funds	Total Funds
	Unrestricted	Restricted	Year to 31 Dec	Year to 31 Dec
	Funds	Funds	2020	2019
	£	£	£	£
Grants	42,551	20,942	63,493	23,923
Room Hire	13,624	-	13,624	35,412
Rent Income	15,336	-	15,336	15,177
Events Income	10,263	-	10,263	43,271
Miscellaneous Refreshments	149	-	149	732
Other charitable income	5,299	-	5,299	994
	--------------------------------	-------------------------------------	-------------------------------------	--------------------------------
	87,222	20,942	108,164	119,509
	================================	=====================================	=====================================	=============================

The grant for 2020 was provided as part of the Bakewell Town Council- Financial Support Package.

5. Membership fees

		Total Funds	Total Funds
		Year to 31	Year to 31
		Dec 2020	Dec 2019
		£	£
	Annual membership fees	220	270
		_____	_____
		220	270
		===========================	===========================
6.	Investment income
		Total Funds	Total Funds
		Year to 31	Year to 31
		Dec 2020	Dec 2019
		£	£
	Bank interest receivable (unrestricted)	31	62
		=====================	================

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

7. Analysis of expenditure

Staff costs Costs associated with events Promotion Durables for Events Utilities Office Repairs and maintenance Janitorial Expenses Equipment Hire Insurance Licences Accountancy, payroll and software Professional Fees Bank Charges Bad Debts Depreciation	Total Funds Year to 31 Dec 2020 £ 44,561 7,835 1,627 315 10,415 4,469 2,985 1,114 - 1,403 1,202 2,156 2,400 65 1,032 5,183 86,762	Total Funds Year to 31 Dec 2019 £ 47,433 31,926 4,357 238 12,658 3,867 8,610 814 - 1,253 1,170 1,778 84 - 5,676 119,864

Expenditure on charitable activities was £85,135 (2019: £115,507) of which £23,992 (2019:£1,543) was restricted.

8. Net (expenditure)/income

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

	2020	2019
	£	£
Independent Examiner’s Fees	650	600
	===========================	================================

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

9. Directors and key management personnel

The key management personnel of the charity consist of the trustees. The trustees did not receive remuneration.

10. Employees

The average monthly number of persons employed (full time equivalent) during the year was

	Year to	Year to
	31 Dec 2020	31 Dec 2019
	No	No
Charitable activities	2	2
	___	___
	2	2
	================	================
Employment costs
	Year to 31	Year to 31
	Dec 2020	Dec 2019
	£	£
Wages and salaries	41,260	44,246
Social security costs	-	-
Pension costs	3,301	3,187
	44,561	47,433

No employee earned more than £60,000 per annum.

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

11. Fixed assets

11. Fixed assets	YEAR ENDED 31 DECEMBER 2020
Fixed assets consisted of :- Cost as at 01/01/2020 Additions Cost as at 31/12/2020 Depreciation as at 01/01/2020 Depreciation charge Depreciation as at 31/12/2020 Net Value at 31/12/2020	Office Eqpmt, Fixtures & fittings Plant & Eqpmt Kitchens Bar & Bar Room Stage Streaming Screen Sound System Total £ £ £ £ £ £ £ £ 45,146 12,415 32,208 7,484 15,858 6,199 6,144 125,454 - - - - - - - -
	45,146 12,415 32,208 7,484 15,858 6,199 6,144 125,454 45,146 11,904 32,208 7,484 14,272 775 768 112,557 - 511 - - 1,586 1,550 1,536 5,183
	45,146 12,415 32,208 7,484 15,858 2,325 2,304 117,740
	- - - - - 3,874 3,840 7,714

12. Debtors

	2020	2019
	£	£
Trade debtors	5,151	3,753
Accrued Income	3,746	-
Prepayments	941	1,426
Sundry debtor	40	40
	--------------------------------	--------------------------------
	9,878	5,219
	================================	================================
. Stock
	2020	2019
	£	£
Bar stock	559	819
	--------------------------------	--------------------------------
	559	819
	================================	================================

13. Stock

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

14. Creditors: Amounts falling due within one year

	2020	2019
	£	£
Trade creditors	305	1,090
Accruals and deferred income	3,454	3,000
Taxation and social security	-	-
Pensions	-	-
	--------------------------------	--------------------------------
	3,759	4,090
	================================	================================

15. Analysis of charitable funds

Analysis of movements in unrestricted funds

	At	Incoming	Outgoing	Transfer	At
	1 Jan				31Dec
	2020				2020
	£	£	£	£	£
General reserve	57,613	87,828	(62,770)	36	82,707
	-------------------------------------	-------------------------------------	-------------------------------------	-------------------------------------	-------------------------------------
Total unrestricted funds	57,613	87,828	(62,770)	36	82,707
Restricted funds
Duke of Devonshire’s Charitable Trust	4,225	-	(1,293)		2,932
Peak Leader	4,122	-	(1,293)		2,829
Dorothy Vernon Lodge Donation	500	-	(500)		-
Derbyshire County Council		1,500	(1,464)	(36)	-
HMRC Job Retention Scheme		19,442	(19,442)		-
Total restricted funds	8,847	20,942	(23,992)	(36)	5,761
Total funds	66,460	108,770	(86,762)	-	88,468

General reserve

General reserves are the free reserves after allowing for all designated funds.

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BAKEWELL TOWN & COMMUNITY TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

Restricted Funds

The Duke of Devonshire Charitable Trust monies were used to purchase the streaming screen and the sound system.

The Peak Leader funding was also provided for the streaming screen and sound system.

The Dorothy Vernon Lodge donation was similarly made for the streaming screen and sound system.

The purchase of the assets was capitalised and the depreciation charge will be set against the funding in accordance with the depreciation policy.

The Derbyshire County Council Grant was provided to allow the purchase of a laptop for remote working.

The HMRC Job Retention Scheme was provided to support the retention of staff during the COVID pandemic.

16. Analysis of net assets between funds

	Tangible	Other
	fixed assets	net assets	Total
Unrestricted funds	£	£	£
Unrestricted Funds	1,953	80,754	82,707
Restricted funds	5,761	-	5,761
	______	_____	_____
Total funds	7,714	80,754	88,468
	====================================	=============================	================================

17. Related party transactions

The charity had no related party transactions that required disclosure.

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