## Avon Business & Leisure ClO
Registered Charity Number 1114478
## Financial Statements
For the period ended 31% December 2020
## Avon Business & Leisure ClO
## index to the financial statements
||Page|
|---|---|
|Charity Information|1|
|Report oftheTrustees|2|
|Independent Examiners Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8-12|
|Income and Expenditure Account||
|-
CommunityCentre|Appendix|
Appendix 1
## Avon Business & Leisure ClO
## For the year ended 31°t December 2020
## Charity Information
Address
Charity Number
## Reporting Accountant
Avon Road Cannock Staffordshire WSi1 1LH
## 1114478
Ballance & Lowbridge Ilp 65 Market Street Hednesford Staffordshire WS12 1AD
Page 1
## Avon Business & Leisure CiO
## For the year ended 31%t December 2020
## REPORT OF THE TRUSTEES
The Financial Statements have been prepared for a 12 month period. Comparative figures for 2019 are stated for an 18 month period.
The trustees present their report along with the financial statements of the charity for the year ended 31* December 2020. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the charity’s constitution and applicable law.
## OBJECTIVES AND ACTIVITIES:
## Constitution and Objects
The organisation is a charity, incorporated on 23 February 2006 as a Company limited by guarantee, and converted to a ClO in 2019. The objects and powers of the charity are laid down in the ClO Constitution adopted 26% May 2019.
## The objects of the charity are:
- a. Promote the benefits of the inhabitants of Cannock and the neighbourhood without distinction of sex or political, religious or other opinions by association with local authorities, voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure time occupations with the object of improving the conditions of life for the said inhabitants; and
- b. Use the premises and to maintain and manage or co-operate with any local statutory authority in the maintenance and management of the premises for activities promoted by the Association and its constituent bodies in furtherance of the above objects.
## Main Activities
The main functions of Avon Business & Leisure CIO are:
The management of the fully accessible Avon Business & Leisure ClO buildings and the provision of affordable accommodation for groups and individuals.
## ACHIEVEMENT AND PERFORMANCE:
The Charity has experienced an unprecedented year, suffering from greatly restricted trading due to the Corona Virus pandemic, and its effect on society. The Charity anticipates the effects of the pandemic to impact on the next financial year.
The Trustees would like to acknowledge and express gratitude too all staff, volunteers, committee members and all involved with the Charity for their support and patients throughout what has beena difficult year.
## FINANCIAL REVIEW:
The total net outgoing of Restricted income was £ 0, and total net outgoings of Unrestricted income was £ 23,506, largely due to Government Corona Virus support. The Charity had £ 109,870 in unrestricted bank funds, and £ 0 ona short-term investment in unrestricted funds. The charity is due to receive additional Government Corona Virus support in 2021. The income of the charity continues to be derived from the letting of the property.
## Page 2
Avon Business & Leisure CIO
## For the year ended 31% December 2020
Report of the trustees (Continued)
## Policy for determining level of reserves
The trustees goal is to retain unrestricted funds sufficient to cover 6 months running costs of the service to enable continuation of activities should the income cease and to provide for potential redundancy costs.
## Level of Reserves
The charity has £ 76,447 in unrestricted and undesignated reserves at the period end. The goal would require these reserves to be £ 53,000 including redundancy costs.
## Policy for investment of funds
The trustees place funds not immediately required into a high interest deposit account to achieve added income.
During the year the charity invested £ 25,000 but took this off deposit in December 2020.
## STRUCTURE, GOVERNANCE AND MANAGEMENT:
The Charity is governed by a Trust Deed held by Staffordshire County Council.
The Charity is constituted as a ClO, whose constitution was adopted on 29** July 2019.
## The Charity Trustees manage the affairs of the CIO.
The procedure for appointment and removal of Trustees is contained in the Charity ClO Constitution dated 16‘ May 2019.
## Risk Management
The trustees have examined the major strategic business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. Staff and volunteers are provided with appropriate induction and training. Internal risks are minimised by the implementation of policies and procedures, which are reviewed regularly to make sure they meet the needs of the charity.
The charity are GDPR compliant to current legislation. In addition, the charity have achieved a Five Star Environmental Award.
Health and Safety procedures are in compliance with current health and safety legislation and with the Regulatory Reform (Fire Safety) Order 2005 and risk assessments are carried out. Risks regarding funding are covered within the strategic plan.
The charity are, and continue to operate within, current Covid 19 regulations and best practice.
## ADMINISTRATIVE DETAILS:
The Charity Avon Business and Leisure CIO are located on Avon Road, Cannock, Staffordshire.
Trustees in office at the Balance Sheet date are as follows:
Page 3
## Avon Business & Leisure ClO
For the year ended 31° December 2020
## Report of the trustees (Continued)
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Trustees
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Trustees Mr LA Castellina - Chairperson
Mr David Corns - Vice Chairperson
Mrs A| Castellina
Mr G Williams - Company Secretary
Mr C Phillips
Mr D Pavier
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Co-opted Trustees
Mrs P Corn Mrs B Denton Mr D Meeks Mr D Willetts Mr C Brown
## Statement
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This report has been presented to the Trustees and agreed in general meeting by:
NI eA ~
Signed: YC
y
Name: MrL Castellina
c
Date: ; _ Trustee
22/ o / 2(
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Page 4
Avon Business & Leisure ClO
## For the year ended 31°* December 2020
## independent Examiner’s Report to the Trustees of Avon Business and Leisure ClO
| report to the trustees on my examination of the accounts of the above charity for the period ending 31* December 2020.
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act’).
| 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, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
| have completed my examination. | 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:
e the accounting records were not kept in accordance with section 130 of the Charities Act; or ° the accounts did not accord with the accounting records; or e the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
| 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.
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/\
Signed: f
» ved
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Mr D Lowbridge Ballance & Lowbridge Ilp
65 Market Street Hednesford Staffordshire WS12 1AD
Date: 30/3/ a0x4
Page 5
## Avon Business & Leisure ClO
## For the year ended 31** December 2020
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||||||||
|---|---|---|---|---|---|---|
|Note|Unrestricted|Restricted|Total|Total|
|Ref.|31/12/2020|31/12/2019|
|STATEMENT OF|FINANCIAL ACTIVITIES:|
|INCOMING|RESOURCES|
|Grant Income|2|51,324|0|51,324|1,470|
|Investment Income|3|2,870|0|2,870|1,597|
|Trading Activities|4|30,093|i?)|30,093|121,176|
|84,288|i?)|84,288|124,243|
|RESOURCES EXPENDED|
|Direct Charitable|Expenditure|5|20,441|[9]|20,441|53,219|
|Management and Administration of the Charity|6|40,341|40,341|80,760|
|60,782|0|60,782|133,979|
|Net Incoming Outgoing Resourses|23,506|it)|23,506|-9,736|
|Fund Balance|b/f from 31/12/20|87,828|18,307|106,135|115,871|
|Fund Balances c/f to 01/01/21|111,334|18,307|129,641|106,135|
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Page 6
## Avon Business & Leisure CiO
As at 31% December 2020
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BALANCE SHEET:
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Period Ending 31/12/20 Year Ending 31/12/19
£ £ £ £
FIXED ASSETS 7 27,054 22,887
CURRENT ASSETS:
Short-term Deposit 8 0 25,000
Stock 9 ) ]
Debtors 10 668 1,669
Cash in Bank and in hand 11 109,870 58,579
110,538 85,248
LIABILITIES:
Amounts falling due within one year 12 7,951 2,000
NET CURRENT ASSETS: 129,641 106,135
FUNDS:
Restricted Income Funds: B 18,307 18,307
Unrestricted Income Funds: 14
General Fund 76,447 52,890
Designated Funds - Fixed Assets 34,887 34,938
111,334 87,828
129,641 106,135
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## Approved by the Management Committee on and signed on its behalf by:
Signed: 4), /) pn Signed: A Name: Mrl Castellina Mr D D Corns Trustee Trustee Date: 22/3/2| Date: 23 [ 3] [ 3] 3] 202 The notes on pages 8 - 12 form part of the financial statements.
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Signed: A ate)
Mr D D Corns
Trustee
Date: 23 [ 3] [ 3] 3] 202
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Page 7
Avon Business & Leisure ClO
## For the year ended 31°* December 2020
## 1. Accounting Policies Basis of Accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:
The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16" July 2014, and with, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and with, the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
## Income:
- a. Recognition of Income: Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resource. It is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
- b. Offsetting: There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
- c. Grants and Donations: Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
- d. Volunteer help: The value of any voluntary help received is not included in the accounts but is acknowledged in the trustees’ annual report.
- e. Income from Interest: income from interest generated from money held on deposit, is recorded in the accounts upon receipt.
- f. Settlement of Insurance claims: Insurance claims are offset against their relevant expense headings as permitted by the FRS 102 SORP or FRS 102.
Detailed information regarding income is provided in the Notes to the Accounts 2, 3 and 4.
## Expenditure and Liabilities:
- a. Liability Recognition: Liabilities are recognised where it is more likely than not that there is a legal or constrictive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## Page 8
Avon Business & Leisure ClO
## For the year ended 31%t December 2020
- b. Provisions for liabilities: A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
## c. Basic financial instruments:
- The charity accounts for basic financial instruments on initial recognition as per paragraphs 10.7 FRS 102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS 102 SORP.
Detailed information regarding expenditure is provided in the Notes to the Accounts 5 and 6.
Asset:
- a. Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year, and cost at least £ 500.
- b. Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
Details of both tangible fixed assets and debtors are given in Note to the Accounts 7 and 10.
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2. Grant Income
Unrestricted Restricted Total Total
Grant Income 2020 2019
Staffordshire Foundation 0 0 0 1,470
Awards4All 0 0 is} i?)
Advice Centre ie} ie) 0 ie)
(i 0 0 1,470
3. Investment Income
Unrestricted Restricted Total Total
Investment Income 2020 2019
Bank Interest 0 0 209
Investment Income:
Short-term deposit 2,870 2,870 1,388
2,870 0 2,870 3,616
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3. Investment Income
Page 9
## Avon Business & Leisure CiO
## For the year ended 31°* December 2020
## 4, Trading Activities
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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|Trading Activities|2020|2019|
|Room Hirings|30,013|30,013|114,603|
|Own|Classes Income|0|0|0|6,013|
|Rent Received|from|Bar|0|0|0|
|Sundry Income|80|80|S60|
|Dog Agility income|0|0|0|
|Government Grants|- CCDC|28,650|28,650|0|
|Government Grants|- JRS Grant|22,674|22,674|
|81,417|}|81,417|123,195|
|5.|Direct|Charitable|Expenditure|
|Direct Charitable|Expenditure|
|Own|Classes Expenses|208|0|208|8,259|
|Establishment Costs|15,985|15,985|40,574|
|Bad|Debt|0|0|0|
|Depreciation|4,249|4,249|4,386|
|Bar Expenses|0|0|0|
|20,442|0|20,442|53,219|
|6.|Management & Administration|of the|Charity|
|Management and Administration|of the Charity|
|Salaries and|NIC|32,529|32,529|57,139|
|Accountancy Fees|2,900|2,900|5,263|
|Legal|and|Professional|Fees|0|0|1,680|
|Office Costs|2,772|2,772|6,905|
|Other Expenses|2,140|2,140|9,773|
|40,341|0|40,341|80,760|
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## 7. Tangible Fixed Assets Equipment, Fixtures and Fittings
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|---|---|---|---|---|
|Tangible|Fixed Assets:|Leasehold Costs|Equipment|Total|
|Cost at 31/12/19|30,965|202,298|233,263|
|Additions|8,416|8,416|
|Cost at 31/12/20|30,965|210,714|241,679|
|Depreciation|at 30/06/19|10,062|200,314|210,376|
|Charge|for the Year|1,548|2,701|4,249|
|Depreciation|at 31/12/20|11,610|203,015|214,625|
|Net Book Value at 31/12/20|19,355|7,700|27,054|
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## Page 10
Avon Business & Leisure ClO
## For the year ended 31st December 2020
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8. investment
Investment | 31/12/20 r 31/12/19
Short term loan 0 0
9. Stock
Stock
Bar 0 0
10. Debtors
Debtors
Trade Debtors 668 904
Prepayments 0 765
668 1,669
11. Cash In Hand and at Bank
Cash In Hand
Yorkshire Bank Plc
Current Account 6,057 1,030
High Interest Account 103,314 57,049
Short -term Deposit 0 25,000
Cash In Hand 500 500
109,870 83,579
12. Liabilities: Amounts falling due within due within within one year year
Liabilities: Amounts falling due within one year
Accruals 2,595 2,000
Tax & social security 0 0
Loan §,356 0
nee oo ———
7,951 2,000
13. Restricted Funds
Restricted Funds Analysis: Balance Movement Movement Balance
” 31/12/19 Incoming Outgoing ” 31/12/20
Staffordshire Foundation 11,822 0 0 11,822
Awards4All 1,840 0 0 1,840
Advice Centre 4,645 0 0 4,645
18,307 [) 0 18,307
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## 12. Liabilities: Amounts falling due within due within within one year year
## 13. Restricted Funds
Page 11
## Avon Business & Leisure CiO
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For the year ended 31“ December 2020
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14. Analysis of Net Assets between Funds
Analysis of Net Assets between Funds: Fixed Assets Net Current Net Assets
Assets
Restricted Funds: 18,307 18,307
0 18,307 18,307
Unrestricted Funds:
Designated 34,887 34,887
General Purpose 76,447 76,447
111,334 18,307 129,641
15. Fees for Examination of Accounts:
independent Examination Fees:
Fees for the independent examination of the accounts 2500
16. Paid Employees and Related Party Transactions:
Paid Employees:
Average number of employees during the period 5
Total staff costs - salaries and wages 32,529
2 Trustees were paid for duties as employees during the year 8,070
All employees were involved in charitable activites.
17. Capital commitments
Capital Commitments:
There were no capital commitments unprovided for at the year end ( 2019 Nil).
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Page 12
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## Avon Business & Leisure CiO
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|||||||
|---|---|---|---|---|---|
|For|3ist December 2020|31st December 2019|
|the year ended 31% December 2020|£|€|3|€|
|Appendix|1|
|RESTRICTED FUNDS|
|Awards4All:|
|Grant|0|0|
|Expenses|Paid|)|(7,335)|
|0|(|7,335)|
|Staffs|CC:|
|Grant|0|1,470|
|Expenses|Paid|0|0|
|0|1,470|
|Advice|Centre:|
|Income|0|1,905|
|Expenses|Paid|0|0|
|0|1,905|
|Depreciation|-|Restricted|Funds|
|Net Income|-|Restricted|0|(|3,960)|
|UNRESTRICTED FUNDS|
|Room|Hiring|30,013|114,603|
|Rent received|from|Bar|0|ie)|
|Sundry Income|80|559|
|Government Grants|51,324|
|Bank and|Investment Income|2,870|1,597|
|Own|Classes:|
|Banbinos|Partent & Toddler Group|0|4,108|
|Dog Agility|Income|0|0|
|0|4,108|
|Own|Classes Expenses paid|{|208)|(|924)|
|(|208)|3,184|
|Net Income|- Unrestricted|84,080|119,943|
|TOTAL NET INCOME|84,080|115,983|
|LESS|EXPENSES:|
|Wages and|National|Insurance|32,529|57,139|
|Rates & Water|2,495|6,679|
|Use|of Home|as Office|480|480|
|Heating & Lighting|5,162|8,910|
|Telephone|951|1,895|
|Insurance|2,208|3,235|
|Repairs & Renewals|2,411|11,278|
|Printing Postage Stationery & Advertising|1,821|5,009|
|Cleaning|2,873|8,964|
|Performing Rights & Licences|356|1,027|
|Bad|Debt|18)|ie)|
|Accountancy Charges|2,900|5,263|
|Legal & Professional|Charges|0|1,680|
|Sundry Trade|Expenses|2,140|9,774|
|Depreciation|4,249|4,336|
|60,574|125,719|
|EXCESS INCOME OVER EXPENDITURE|23,506|( 9,736)|
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