Charfty r•gl8tratlon numbor 1114612 Company reglstratlon numb•r l)5579630 (England and W•l•sl SLAM COMMUNITY DEVELOPMENT TRUST LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 I'iiiilliii! ABD16YXC 2810912022 COMPANIES HOUSE A21
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SLAM COMMUNITY DEVELOPMENT TRUST LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Truste•s A Hi1 Mr l Hirsl Mr K Hall Mr W Vkami¢Jrth (ApFK)inted 10August 2021) Secretary Mr l Hirsl Charlty number 1114612 Company numb 05579630 Rogi$tèr•d offi¢• Spectrum Leisure coMX Hunwid( Lane Ilington Co Durham OL15 OJA Ind•p•ndent examiner Mr Kenneth Scott FCA JM Accountancy Limrted Chartered Accountants S Beach Road Sotrth Shields NE33 2QA
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED CONTENTS P•ge Trustees, report Statement of trustees. respont.111leS Independent examinerfs rewt Statement of financial activibes Balance sheet Notes lo Ihe finan(yal stslements 7-17
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees present their reFXJrt and finanua statements for the year ended 31st December 2021. The finanual ststements have been PrePad in Ndan with the accounting policies set out in r)te 1 to the finan081 Ststements and Comply wrth the Compan5 Act 2fM16 and the Chanties SORP {FRS102). Obj•ctiVo8 and actlvtties The obj'ectives of the charity are to prowde facilities foT aw rnbe[s of the community for recreational and soc1 events and to promote education within all elements of the community in relation lo their recTealional time. The trustees have paid due regard to guidance issued ty the Charity Ccrfnmission in deuding what activities the charity should undertake. All charitable activities are undertaken to further the charitable purposes for the public benefit. The trustees confirni that they have complied with the duty in section 17151 of the Charities Act 2011 to have due gard to public benefrt guidance published by the Charity Commission. Day lo day management of the chanty is delegated by the tntslee5 to the Chief EXUtive Officer, Mr l Hirst. Achievem•nts ond perforniance 2021 started off with the third National Lkdn. thus preventing us from trading in a time that is traditionally when Leisure Cenlres secure their best influx of new members. During the rmnths of January. February and March we were unable to trade and on -openIng in April with restrictions our membership never really recovered. The Tnjstees and staff worked together to ty and resolve issues with members of the Communities trying lo erUrage them lo retum but it was a 0W Pr$$ and never allY got going until mid September when the leisure industy was starting to relum to some nomialty. User numbers and memberships are d¢)wn wrthin the industy as a whole and we have seen this reflected bn attendees. That said it is hoped that thin9s will start lo retum lo a more normol bevel as we enter into 2022. Financial review Incoming resources in the period were £220.546 12020.. £198.5601 and there was a def11 of £63.731 {2020". £107.074 deficit). Total reserves decreased during the period from £1.614,627 to £1,SS0.896. 11 is hoped to retum lo growth in reserves in the current year. 11 is the pICY of the chanty that unrestricted fvnds whth have not been desvJnated for a spectK use should be maintained at a level equivalent to betrween three and six month's expenditure. The trustee5 conshjers that reseNes al this level will en$ that, in the event of a signrfThnl drop in funding, they will be abk to continue the chanty's cUrftt activities while eonsiderakn.on is gNen to ways in which additional funds may be raised. This level of reserves has been maintained throLbghout the year. The trustee5 have assessed the majcK risks lo which the charity ts exposed, and are satisfied that systems and procedures are in place lo mitigate exposure to the major risks. Intemal conlrols have been implemented in respect of transaelion authorisation. Procedures are in place lo ensu Ihe health and safety of staff and visitors to the ntre.
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2021
Structure. gOVomanc• and management
The organisatson is a charitable company h'mited by guarantee. The charity was estsblished under a
Memorandum of Assoaalw whith defirw its
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2021 The Injstees. who are also the directors of SLAM Communty Development Tnjsl Limited for the PUrpr of company law, are responsib for preparing Ihe Trustees. Annual Rewrt and the finaneial stslemenls in accordance with applicable law and United Kingd(ffi A¢xounting Standards (United Kingdom Generally kcepted Accounting Pfacticel. Company law requires the trustees to prepare financial ststements for each financial year which gNe a true and fair view of the state of affairs of the eharrtable company and of the incoming resources and application of resources, induding the income and expenditure, of the charitable Company for that year. In pparing these finan¢ial ststements. the trustees are required to: - Select suitable accounting w)liues and then apply Ihem consi5tenVy: - observe the melhods and princ¥>les in the Charl5 SORP {FRS 102): - make judgements and accounting estimates thal are reasonable and wuden( - state whether appluble UK Aceounling Stsndards have been follcMed. subjecl to any material departures disclosed and explained in tts financial Sents'. - prepare the finanual slalements on the going corKem basis unless rt ts inappropriate to presume that the charitsble company will conb.nue in operation. The tTUStees are reswnsrfole for keeping adequate accounting records that arg SuITlent lo show and explatn th8 charitable company's transactions and disclose with reasortab 8eoJraey at any time the financial pc6ition of the charitsble company and enable them to ensure that the financial slatements eompty with the Companies A¢1 2006. They are also responsi1e for safeguarding the assets of the charitable company and herKe for tsking reasonable steps for the prevenlion and deteCn of fraud and olher irgUIaTI¢ie5.
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SLAM COMMUNITY DEVELOPMENT TRUST LIMITED I report to the Iruslees on my examination of the finan¢Fal statements of SLAM Community Developmffit Trust Limited Ilhe ¢hanty) for the year ended 31 December 2021. R•spon$ibilities and basis of report As the trustees of the charity (and also ts direetots for lh8 of Company law) you am responsible for the prepaiation of the financial ststements in acwrdance with ihe requirements of the Companies Act 2006 (the 2006 Act). Hawng satisfied myself that the financial statements of the eharty are not required to be audited under Part 16 of the 2006 Act and are e1ible for independent examination, I report in respe of my examination of the charity's fin8ncial slalements carried oul under sectton 145 of the Charities Act 2011 Ilhe 2011 Acl}. In earrying out my examination I have lollowed am the applb Direckn"ons gr¥en by the Chity CcAnmission under section 1451Sllb) of the 2011 Act. Indèpendènt ex4minerf$ statement I have cometed my examination. l oMfim) that no matte15 have come to my attention in C)nnectlon with the examination giving me cause to believe that in any material respert accounb'ng records were not kept in resFect of the tharty as required by section 386 of the 2006 Act. or the financial 51alements do not accord wilh those records.. or the finanual statements do not comply wrth the aceounling requirements of seetion 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter nSIdered as part of an independent examination- or the fin8nts81 slalements have not been prepared in accordance with the methods and principles of the Statement of Recommended Pra¢ti¢e for auntIng and Por1]ng by chanlies applicable lo charities preparing their accounts in accordance wilh Ihe Finanoal ReportFng Standard applicab K) the UK and Republic of Ireland (Charities SORP FRS 1021. I have no concEms and have come acros5 no other matters in connection wf(h the examination to whrh attention should be drawn in this report in order lo enable a proper understsnding of the financial ststements to be reached. Mr Kenneth Scott FCA JM Accountancy Limited Chartered Ace£Juntanls 5 Beach Road South Shields NE33 2QA Dated.. 27 Seplember 2022
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestrlcted Restricted funds fundB 2021 2021 Totsl T¢)tal 2021 2020 Charitable activities Investments Other income 146.050 146.050 94,756 19 103.785 74.491 74.491 Tot•1 income 220.546 220.546 198.560 Charrtable activities 284.277 284.277 305.634 Net expenditure for the yearl Net movement In funds 163.731) 163,7311 {107.074} Fund balances at 1 January 2021 1.539.033 75.594 1.614,627 1.721.701 Fund balances at 31 D•¢ember 2021 1,475.302 75.594 1.550,896 1,614,627 The ststement of financial acli¥th"es indudes all gains and losses reCOgnL in the year. All income arKI expenditure derive from continuing aclivitS. The statement of financial ackn"vities also ccrylw vthh the requirements for an incom8 and exponditure account under Ihe CompansA¢1 20C6.
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED BALANCE SHEET AS AT310ECEMBER 2021 2021 2020 Note6 Flxed assets Tangible assets Current ass*ts Stocks Debtors Cash al bank and in hand 10 1.720,053 1.789.836 11 12 4,398 8,398 31.943 1.120 6,228 64,022 44,739 71,370 Crodltors: amounts lalllng du• wllhln one year 13 (122.963) 1117,524} Nel current liabiliti8S 178.224) (46.1541 Total ass les$ current Ilabllllles 1.641.829 1.743.682 Creditor&: amounts falling dug aftor rnor• than on• y•ar 14 190.933) (129.0551 Net assets 1.550,896 1,614.627 In¢omo funds Restricted funds Unrestricted fund$ 15 75.$94 1,475.302 75,594 1,539.033 1.550.8% 1.614.627 The company 15 enlilled to the exemption from the aLKIiI requirement contained in seclion 477 of the Compani&s Act 20C6, for the year ended 310ecember 2021. No m8mters have required the company to obtain audit of its accounts for the year in question n accordance with section 476 of the CompaniesAct 2006. The directors acknowledge their responsibility for eomptyry with the requirem8nts of the Act with respect lo aceountlng records for the preparation ol amwnts. These finla1 statements have been prepared in accordance with the pyovisions applicable to comFenres subj'ect lo the small companies regime. The financial statemen15 were approved by the Trustees on 27 September 20 Tru8le• Company R•gistration No. 05579630
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Ac¢ountlng poli¢i•s Charty information SLAM Community DevelopnnI Trust Limrted a private company limrted by guarantee ineLJrporated in England and Wales. The registered office ts Spethim Leisure Comple& Hunwth Lane. Willinglon, Co Ourham, DL15 OJ 1.1 Accounting c¢)nventi¢>n The finoncial statements have been prepared in aeeordance with the Companies Act 2¢X6 and"Accounling and Reporting by Charities.. Statement of Recommended Practice app[b lo charities preparing their accounts in accon18nce with the Financial Reporting Slandard appluble in the UK and Republic of Ireland IFRS 1021 las amended for accounting periods conThnang from 1 January 20161. The chanty a Publ Benefit Enb"ty as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applyiry FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Fbws. The financial ststements are prepared in sterfing. which is the functn81 trrencY of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial ststements have been prepared under the historical cosl corwention. The principal counting wlicies adopted are set out bebw. 1.2 Golng ¢oncem Al the lime of appwng the finanual slatements. the tru5tee¥ have a reasonable expedatKJn that the charity has adequate resources lo conbnue in CeratIOnal existen for the foreseeable fvture. Thus the trustees continue lo adopt the going concern ba%s of accounting m prepanng the financial ststements. 1.3 Charitablo funds Unrestricted funds are available for use at the <s(Jelion of the trustees in furtherance of their charitable objectives. Restricted fvThJs are suty'ect to speak ttffidiknons by th)nors as to how they may be used. The purposes and uses of the reslricted funds are sel out in the notes lo the financial slaternnts. l A Incoming rgsouffces Income from grants is recc3nised when the chanty is legalty entilled lo it after any perfomiance conditions have been mel, the amunts C be measured reliabty. and rt is pn)bable that income will be ffjceFved. Centre takings are reeowised as Irrfxme once the customer has made use of the centre facilities.
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting polici (Contlnu•d) 1.5 R00$ expended Expenditure is cOgnised once there is a legal or constrLthve obligatn lo transfer economic benefit lo a third party. rt is probable that a transfer of eeonomK benefits will be required in settlement. and the amount of the obligalKJn can be measured reliably. Expenditure is claSsrfd by activity. The a)sts of eath xtsvity a made up of the total of direct ¢0515 and shared costs, inclLtding support costs invofved in undertaking each activty. Direcl costs attribulaLle to a single aclimty are alloeated directly lo that ath"vity. Shared costs whth contribute to more than one activity and support costs which are not attributable to a single aclNFty are aprtIoned behveen those activilie$ on basis consistent wth the use of resources. Central staff costs are alhxated on the basis of lime spent, and depre0aln charges are allocated on the wtron of the asset's use. Expenditure is reeognised on an accrual basts as a liabrfity is incurred. ExperKJrture includes irrncoverable VAT, and is reported as part of the expenditure to whth rt relates.. - Charitsble expenditure comprises Ihose costs incurred by the charity in the delNery of its activiltes and services for ils beneficiaries. 11 includes b¢)th costs that can be alkrated directly to such acts'vities and those costs of an indifect nature necessary to support them. Other expenditure inclLKles those costs a$slated with meeting the constrtutional and Statutory requirements of the eharity and indude the independent examinth.on fees and costs linked lo the slialegic management of the charity. - Al costs are allocated between expenditijre categories of the SOFA on a basis designed to rdect the use of the resource. 1.6 Tangible fixed as80ts Tangible fixed assets are initialty measured al c¢xl and subsequenty measured at cost or valuation, nel of depreciation and any impaifftient losses. Tangible fixed assets are stated al c05t Iv&s depreuab.on and impairm8nt knsses. The costs of minor additions below £100 are not caprtalised. DepreCIan is provrded at rates calculated lo write off the cost less eslimaled residual value ol eath asset over its expected useful lrfe, as follows.. Buildings Fixtures and fittings Sports equipmenl Computer equipment Molor vehicles 2% straht line (larKI is not deprec48ted) 20% Reducing balan Reducing balance 20% Reducing balance 25% Reducing balance The gain or loss arising ¢)n the disposal of an assel is determined as the difference bets¥een the proceeds and the carrying Value of the asset. and is reccgnised in the Statement of financial aetivits"es. 1.7 Impalrnient of fix•d assets At each reporting end dale, the ch• rev*ws the canying amounts of its tsngible assets to detemiine vthelher there is any indication that those assets have suffered an impairment loss. If ony suth IndtIOn exists, the reverable amount of the asset is eslimaled in order to delemine Ihe exlenl of the IMlmient ss Irf ww).
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 A¢counting pollcles (Continued) Recoverable amount is the higher of fair Ve costs to sell and value in use. In assessing value in Use, the eslimaled future cash Ilcmis are discounted lo their present value using a pre4ax dIOunt rale that reflecls currenl mark&t assessments of the time value of money and the risks $peafie to the asset for which the eslimales of fulure cash fltrws have not been adjusted. If the recoverabk amount of an asset is estimated lo be less than its canying arnunt. the rry1)g amount of the asset is reduced lo its recoverab amount An impairment k)ss is recognised immedk4lely in incomel (expendilurel for the year, unless the lean1 asset is carTied at a revalued amounL in which case the impairment loss is treated as a revalua.on decrease. Recognised inpaiment losses a reVed rf. and onty rf. the reasons for the impaiment loss have eased to apply. ere an impairment loss subsequenlty T8verses. the carying arnounl of the asset is increased to the revised eslimale of its recoverable anv)unl. but so that the increased carrying amount does not exceed the carrying am(xJnl that would have been detemiined had no impaimenl loss been regnised for the asset in prior years. A reversal of an impaiThnent kjss is Tecognised immediately. unless the relevant asset is carried in al a revalued amount in which case the reversal of the impaimienl h)s5 is treated as a revaluatjon Increase. 1.8 Slock8 Stock$ are staled at the lower <rf tost and estimated selling price less costs lo ccvnplete and sell. 1.9 Ca8h and cash equivalents Cash and cash equivanIs include cash in hand. deposits held at call with banks, other short-lem IiquK investments with orwJinal matuftties of Ihree months or less. and bank overdrafts. Bank overdrafts are shown within ts)rrowings in ojrreftt liabiliiies. 1.10 Flnan¢lal Inslruments The charity has eleeted lo appty the prOVtsl$ of Seclw 11 'BaS Financial Instruments. and Section 12 'Other Finanual Irbstruments Issues. of FRS 102 to am of its finartial instruments. Financial instfuments are reeognised in the charity's belance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amoynls presented in Ihe financral statements. when there is a legally enforceable rh1 to set off the rec&3nised amounts and there is an intention to settle on a n81 basis or to rpalise the asset and the liability simultaneou51y. Basic financial assets 8asic finanaal assets, whith include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carrtred al amortised wst using Ihe effective Inte$1 melhc*Y unless the arrangement constitutes a financing transactk?n. where the Iransaclion is measured at the wesent value of the future receipts di$Unted al a market rate of inte$1. Financial alS classified as re1Vable within one year are not amorb"sed.
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Aceounting polici•s {Contlnued Basic fina141 liathlitles Basic financial liabilities. including cseditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transacts'on. where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Financial liabilities classtfied as payable within one year a not nofbsed. Debt instruments are subsequenlly carrd at amorbsed o)sL using the effective interest rale method. Trade creditor5 are obligations to pay for goods or Ser¥S that have been acquired in the ordinary course of operations fr¢)m suppliers. Amount5 payable are classifd as current lia.111$ if paymenl is due within one year or less. If not. they are presenled as non-current liabiltbes. Trade credilors are recognised initially al transael)n price and subsequentty measured at arn(xti5ed cost using the effective interest method. 1.11 Employee bonellts The cost of short ten employee teneffts are recognwd as a liability and e>pense. The cost of any unused holiday entitlement is recognised in the period in which the empk)yee's services are Teceived. Temiination benefits are rerngnised imm8dialety as an expense when the charty is demonstrably committed lo terminate the employment of an employee or to provide lerninth.on benefrts. 1.12 Leases Leases are classthed as finance knases whenever the temis of the se transfer substsnlialty all the risks and rewards of fmnership to the lessees. All other leases are classified as operating leases. Rentsls payable under operating leases are charyed against income and on a Straht line basis over the period ol the lease. Assets held under finance 8$eS are recognised as assets at the lTh¥er of the a5sels fairje al the date of inception and the preselll value of the minimum lease payments. The felated liability is included in the balance sheet as a finance lease Obltn. Lease payments are treated as con&sting of capital and interest elements. The interest is charged to net incomel{expendilure) for the year so as lo produ a constant periodie rate of interest on the remaining bnce of the liability. Crl¢lcal accountlng estim•t•s and Judgements In the aFplicalion of Ihe charlS accnting polic*s. the trustees are rewired to make judgements. estimates and assumptions about the carrying amount of assets and Irabilities that are not readily apparent from other sources. The e$kn"mates and asswwled assumptws are based on historical experience and other factors that are consdered lo be relevant Actual resu115 may drfler from these estimates. The estimates and underlying asSln$ are reviewd on an ongoing basis. Revis¢ons to acca)unting estimates are recognised in Ihe period in whh the estimate is revised Whe the revision aflects only that period. or in the period of the revisM)n and fistu perS where the revision affects both rrent and future periods. 10-
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2021 Chadtable *ctiviti•s 2021 2020 Centre takings Grant$ received 128,550 17,5¢)0 94.7 146,050 94,756 Inv•stm•ftts Lknre8tri¢tod unStrICted fund8 funds 20 2020 Interest receivable Olher in¢om• Unrestricted Unreslricled funds funds 2021 2020 Coronavirus job retention scheme grant Other coronavinjs funding 45,995 28,496 41,772 62.013 74.491 103,785 11
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Charitablt a¢llvltl•8 2021 2020 Staff costs Oepreciation and wnpairmenl Support cosls Reimbursment to Seeretary for inilial investment 111.540 69,782 99,205 97.387 78,299 98,546 27,901 280,527 302.133 Govemance costs 3.750 3.500 284,277 302,633 Governance costs indudes paymenls lo Ihe irthpendenl examiner of £3.750 12020.. £3.500) for independent examination fees. Amounts totalling £1.405 {2020: £1250) akso paid to the in•ndent examir)er of p*roll semces. Trustoes None of the trustees rtteived any ey4)enses during the peri(Kl. Employees Numb•r of employees The average Month number of emthees during the year was: 2021 Nufflr 2020 Number Employm•nt ¢0gts 2021 2020 Wages and salaries Social security costs 105,404 6.136 91,888 5.499 111,540 97.387 There were no emthees vthose annual remuneratsn was £60.000 or mre12020.. Nill. 12-
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 TNsteos The foll¢Jwing trustees received remuneration during the year as follows.. 2021 A Plirst l Hirst 60S 26,000 26,605 The level of Muneraln for Ihe above is detennined by the Board of Trustees. The remuneration relates lo the management and administratn of the c¢ryny. None of the trustees received any expenses during Ihe year. 13-
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOYES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2021 10 T4nglblflx•d Ass•ts At 1 U¥Y2021 1.826.737 324mO 10.813 84.130 2.530.030 At 31 08Mbl)21 1.826.737 283.9 324.820 10.843 84.130 2.530.030 At 1 Januy2021 2W.671 200.488 254.252 16.é03 14.114 10.514 74.269 2,465 740.194 69.783 Al 31 Docra)21 237 217.091 268.X4 10.$8D 76.734 809.977 Carwwng amount At 31 Decerr*w2D21 1W.531 263 7.39S 1.720,053 83.012 9.861 1.789,836 14-
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 11 Stocks 2021 2020 Finished goods and gjods for resale 4.398 1.120 12 Dobtors 2021 2020 Amounts falling due within one Yr. Trade debtors 8,398 6,228 13 Creditorn: amounts falllng du• vAlhin one year 2021 2020 Nolos Bank b)ans obligatn$ under finance leases Loans from Iruslees Other taxation and social security Tfade creditors Arual5 and deferred income 70,017 37.035 55.262 49.076 3,070 5,766 850 3.500 8.241 3,920 3.750 122.963 117.524 Net obligab'ons under finan leases are secured on Ihe assets to which they relate. 14 Creditorn: amounts falling due after more than one year 2021 2020 Bank loan$ 90.933 129.055 15-
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 15 Restricted funds The funds of the charity indude reslrthd furKts conyrising the foll¢xFn9 unexpended balances of grants held on trust for specific purposes.. Movemont in funds Balan¢• al 1 Incomlng Resources Balance at 31 January resources expended December 2021 2021 Durham County Council 75.594 75,594 75.594 75.594 The restricted funds are for the folltr*ing pUry)0.. Durham County Council - To fund pIts1 purchases 16 Analys16 of nel a88018 b•twwn funds Unff•strieted funds Rtricted funds Total Fund tsalans al 31 December 2021 are represented by.. Tan9ible assets cufnt asset111ab1lIIles) Long lem) liabilities 1.720.053 1153.818) {90.933) 1,720,OS3 178,224} 190,9331 75,594 1.475.302 75,594 1.550.896 17 Op•rating l•as• commitrn•Thts At the reporting end date the charty had ou151anding commitments for future minimum lease payments under n0n-cance1lae operakn'ng leases. which fall due as folFws: 2021 2020 Within one year Behveen iwo and fve yea In over five years 24,000 96.000 768.000 24.000 96,000 792,000 888.000 912.000 Ouring the finanal period the land of the charity was sold lo WSS lo settle oulstanding108ns. The charty retained ownership of the buikdings. An agreement wa5 made th WSS to lease back the land at a ren131 premium of £2.( per month. The lease is for 40 year4 wiewable every S yeats with a 6 month nott¢e perKJd. 16-
SLAM COMMUNITY DEVELOPMENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 18 Relat•d party transactlons tJJring the year Mr l Hirst personally paid e>Pen for the charity. At the year end there was a balanc due to Mr l Hirsl totslling £Nil {2020= £3,070). 19 Company limited by guarnntee The cijmpany is limited by gUararrt. At 31st December 2021 there were 4 rnembe each of whom h•J underten lo contribute an affnt not exceeding £1 n the event of winding up. The Company is under the control of the directors as a tM)dy and as such is not controlled by any individual. 20 Evonts aftor the rgporting dat• Post reporting date •vents Since 31 December 2019. the spread of COIAD-19 has severety irycted many local economies around the globe. In many countries. businesses a being forced to cease Of limrt operations for long or indefinile peTiods of lime. meaSuS tsken lo eontain the spread of the virLrs, including travel bans, quarantines, soaal distanung, and dosures of nonossential services have triggered sonfficanl disruptions to businesses worldwide, iesuliing in an economic slowdown. Gbbal stoth markets have also experienced great volatility and a sMJnificant weakening. Govemments and central banks havg responded with monetary and fiscal inleNent*)ns to stabilise econcrfnic c¢ndilw)ns. The Company has delennined that these events are non-adjusting subsequent events. Accordingly, the financial position and resu$ of operat#)ns as of and for the year ended 31 Decemter 2021 have not been adjusted to reflect their impacl. The duration and impact of the Cov119 pandemic. as well as the effecliveness of government and ntral bank responses, iemains unclear at Ihis time. It is not possible lo relk4bly estimate the duration and severity of these consequences. as well as their impact on the financial position and results of the Company for future periods. Note.. this disck>sure assumes there no wgnifKant doubt about the entity's ability to ntinUe as a goirtg concem. 17-