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2020-12-31-accounts

Charity registration number: 1115068

Lanivet Parish Sport and Recreational Trust

(An Unincorporated Charity)

Annual Report and Financial Statements

for the Year Ended 31[st] December 2020

Lanivet Parish Sport and Recreational Trust

Contents

Reference and Administrative Details 1
Trustees’ Report 2 to 3
Independent auditors' report 4
Statement of financial activities 5
Balance Sheet 6
Notes to the financial statements 7 to 14

Lanivet Parish Sport and Recreational Trust

Reference and Administrative Details

Charity name Lanivet Parish Sport and Recreational Trust
Charity registration number 1163534
Principal office The One for All Lanivet Parish Community Centre
Carters Parc
Rectory Road
Lanivet
Cornwall
PL30 5HG
Registered office The One for All Lanivet Parish Community Centre
Carters Parc
Rectory Road
Lanivet
Cornwall
PL30 5HG
Trustees Stephen Angwin
David Carter
Richard Gibbons
Michael Hancock
Andrew Harris
Peter Old (Chairman)
Secretary Sue Carthew
Treasurer Julie Angwin
Bankers Lloyds Bank
14 Molesworth Street
Wadebridge
PL27 7DE
Independent Examiner Danny Batten BSc. FCPFA DMS
Kingfisher House
Truro Road
Lanivet
Cornwall
PL30 5HF

Page 1

Lanivet Parish Sport and Recreational Trust

Trustee Report

The trustees present their annual report and the financial statements of Lanivet Parish Sport and Recreational Trust for the year ended 31[st] December 2020.

The accounts comply with the Charities Act 2011, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015.

Governance, Structure & Management

The charity is controlled by its governing document, a deed of trust dated 22[nd] June 2006, and constitutes an unincorporated charity.

The charity is currently run by a Management Committee of 6 Trustees (the minimum number is 3) and 3 other members, who are appointed for 3 years. The Trust meets 12 times a year

The Trustees and members are recruited by way of their wide range of expertise to enhance the decision making of the Trust.

Objectives & Activities

The objects of the Trust are:

To promote for the benefit of Lanivet and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the community at large in the interests of social welfare and with the objects of improving the conditions of life of the said inhabitants

Public benefit

The Trustees are satisfied that the Charity meets the public benefit through their objectives in consideration of the following:

Achievements and Performance

Page 2

Lanivet Parish Sport and Recreational Trust

Trustee Report

2020 proved to be a very strange year with the Covid-19 pandemic, resulting in the Community Centre being closed from the 23[rd] March 2020, following the first lockdown followed by further lockdowns during the year severely curtailed the opening periods. Throughout this time the Centre was used as the hub of the support team set up to help all the people in the parish and surrounding parishes with the electric vehicle being fully utilised in delivering prescriptions from both local surgeries, delivering shopping and taking people to medical appointments.

During the lockdown periods the Centre was redecorated, and covid-19 related improvements were made to the building as well as an upgrade to the cinemas and sound systems. Despite a complete halt to income coming into the Centre, grants were obtained from the Government, National Lottery, Sport England other funders to maintain the Centre and deliver the Covid 19 support. During the year a 16seater Minibus was purchased from Age Uk Cornwall and Isles of Scilly which will be operated from October 2021. Work was also started on an extension to operate a Community Café in 2022, offering employment training and a place for those suffering from isolation.

The Community Centre continues to grow from strength to strength and will be a key asset for bringing the community together following the pandemic evidenced as it is currently being used as a vaccination centre by the 2 Bodmin surgeries.

.

Financial Review

Income for the year £111,568 (2019 £60,925) which is an actual increase in the previous year and due to an increase in the grants received both restricted and for general running of the Centre. Expenditure for the year had increased to £79,407 (2019 £65,085) and increase in the year due to the opportunity to redecorate the building, improve the facilities and purchase a second hand mini bus. The surplus for the year £32,161 (2019 £4,160 deficit) is due the level of grants secured much of which will be spent on the extension to the building

Reserves Policy

The organisation aims to hold 6 months’ worth of minimal running costs of the new facility calculated at £13,000, as an unrestricted reserve. The current value of £124,895 is well above this figure.

Approved by the Board and signed on its behalf by:

Peter Old, Chairman Date 29 October 2021

I report on the accounts of the charitable company for the year ended 31[st] December 2020, which are set out on pages 6 to 14.

Page 3

Lanivet Parish Sport and Recreational Trust

Statement of Financial Activities for the Year Ended 31[st] December 2019

Respective responsibilities of trustees and auditors

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit and is eligible for independent examination it is my responsibility to:

Basis of Independent Examiner’s Statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention to indicate that:

........................................ D. M. Batten BSc. FCPFA DMS Kingfisher House, Truro Road, Lanivet, Cornwall PL30 5HF

Date:…29 October 2021

Page 4

Lanivet Parish Sport and Recreational Trust

Balance Sheet as at 31[st] December 2020

Note
Income
Income and
endowments from:
Donations and
legacies
2.1
Charitable activities
2.2
Investments
2.3
Total
Expenditure
Expenditure on:
Charitable activities
3
Total
Net movement in funds
Reconciliation of
funds:
Total funds brought
forward
Total funds carried
forward		 Unrestricted
funds
£
10,374
72,546
3
82,923
59,040
59,040
23,883
101,012
124,895		 Restricted
income
funds
£
-
28,645
-
28,645
20,367
20,367
8,278
784,171
793,449		 Total
funds
£
10,374
101,191
3
111,568
79,407
79,407
32,161
885,183
917,344		 Prior
year
funds
£
12,171
48,752
2
60,925
60,085
60,085
(4,160)
889,343
885,183

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 7 to 14 form an integral part of these financial statements.

Page 5

Lanivet Parish Sport and Recreational Trust

Balance Sheet as at 31[st] December 2020

Note
Tangible Assets
7
Current Assets
Debtors
9
Cash at bank and in hand
Creditors: Amounts falling
due within one year
10
Net current assets
Net assets
The funds of the charity:
Restricted funds
Unrestricted funds
Unrestricted income funds
Designated Fund
Total unrestricted funds
Total charity funds		 2020
£
£
882,565
22,661
27,530
50,191
(15,412)
34,779
917,344
792,449
122,771
2,124
124,895
917,344		 2019
£
£
872,692
2,599
16,866
19,465
(6,974)
12,491
885,183
784,171
92,812
8,200
101,012
885,183		 2019
£
£
872,692
2,599
16,866
19,465
(6,974)
12,491
885,183
784,171
92,812
8,200
101,012
885,183
50,191
(15,412)		 19,465
(6,974)
122,771
2,124		 92,812
8,200
885,183
784,171
101,012
885,183

Approved by the Trustees on…………29 October 2021.

Signed ……………………………………………….

Peter Old, Chairman

The notes on pages 7 to 14 form an integral part of these financial statements

Page 6

Lanivet Parish Sport and Recreational Trust

Notes to the Financial Statements for the Year Ended 31[st] December 2020

1. Accounting policies

Basis of accounting

The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16[th] July 2014 and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The charity constitutes a public benefit entity as defined by FRS102.

Fund accounting policy

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

Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose

Further details of each fund are disclosed in note 13.

Income

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS102 SORP or FRS102.

Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Income from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate when there is a valid declaration from the donor.

Investment income is recognised on a receivable basis.

Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.

Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Page 7

Lanivet Parish Sport and Recreational Trust

Notes to the Financial Statements for the Year Ended 31[st] December 2020

......... continued

Costs of raising funds are the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them along with governance costs. Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Support costs

Support costs are those incurred directly in support of expenditure on the objects of the charity and include project management.

Fixed assets

Individual fixed assets costing £250 or more are initially recorded at cost

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Plant and machinery Motor Vehicles Office Equipment

15% straight line 20% straight line 25% straight line

Debtors

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

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

......... continued

Page 8

Lanivet Parish Sport and Recreational Trust

Notes to the Financial Statements for the Year Ended 31[st] December 2020

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.

Financial instruments

The trust only 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 with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

Operating leases

Rentals payable under operating leases are charged in the statement of financial activities on a straight-line basis over the lease term.

2. Income

2.1. Donations and Legacies


Appeals and Donations
Gift Aid Tax Reclaimed		 Unrestricted
funds

£
10,374
-
10,374		 Restricted
income
funds
£
-
-
-		 Total
funds
£
10,374
-
10,374		 Prior
year
funds
£
12,171
-
12,171

2.2. Charitable Activities

Page 9

Lanivet Parish Sport and Recreational Trust

Notes to the Financial Statements for the Year Ended 31[st] December 2020

Grants
National Lottery
Awards for All
Sport England
Cornwall Community Foundation
Business Support Grant
Western Power
Job Retention Scheme
Cornwall Council
Football Foundation
Energy Grants
Other Grants
Total Grants
Other Income
Lanivet United Charity
Fundraising Income
Room Hire
Pitch Hire
Sales
Transport
Other Income
Total Income
2.3. Investments

Interest on Cash Deposits		 Unrestricted
funds

£
15,000
-
11,000
-
12,668
1,600
6,330
-
500
1,406
-
48,504
350
1,226
12,468
8,426
349
1,001
222
24,042
72,546
Unrestricted
funds

£
3		 Restricted
income
funds
£
-
9,500
7,645
11.500
-
-
-
-
-
-
-
28,645
-
-
-
-
-
-
-
28,645
Restricted
income
funds
£
-		 Total
funds
£

15,000
9,500
18,645
11,500
12,668
1,600
6,330
-
500
1,406
-
77,149

350
1,226
12,468
8,426
349
1,001
221
24,042
101,191
Total
funds
£
3		 Prior
year
funds
£
-
-
-
-
-
-
-
300
-
1,634
1,240
3,174
350
4,525
28,941
8,517
2.081
1,164
45,578
48,752
Prior
year
funds
£
2

3. Expenditure

Page 10

Lanivet Parish Sport and Recreational Trust

Notes to the Financial Statements for the Year Ended 31[st] December 2020

Direct costs
Cost of Fundraising
Support costs
Rent
Wages and Salaries
Cleaning
Insurance
Utilities
Repairs and Maintenance
Catering
Mini Bus
Field Upkeep
Telephone
Sundry Expenses
Office Expenses
Transport
Licensing and Subscriptions
Grants
Professional Fees
Depreciation
Total Support Costs
Governance Costs
The independent examination of the charity's
annual accounts
Total Governance Costs
Total Expenditure		 Unrestricted
funds

£
528
528
350
24,604
2,534
2,479
3,202
5,691
85
6,076
5,901
757
56
407
1,013
1,762
1,865
155
1,155
58,092
420
420
59,040		 Restricted
income
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
20,367
20,367
-
-
20,367		 Total
2020
£
528
528
350
24,604
2,534
2,479
3,202
5,691
85
6,076
5,901
757
56
407
1,013
1,762
1,865
155
21,522
78,459

420
420
**79,407 **		 Total
2019
£
1,183
-
350
24,193
3,589
2,949
3,792
4,778
467
-
1,380
617
1,299
381
-
845
-
227
18,615
63,482
420
420
65,085

4. Trustees' remuneration and expenses

No trustee received any remuneration or expenses during the current or previous year.

5. Net expenditure

Page 11

Lanivet Parish Sport and Recreational Trust

Notes to the Financial Statements for the Year Ended 31[st] December 2020

Net expenditure is stated after charging:

et expenditure is stated after charging:
Auditors' remuneration – Independent Examination of the
charity’s annual accounts
Depreciation		 2020
£
420
21,522
21,942		 2019
£

420
18,615
19,035

6. Employee’s Remuneration

The average number of persons employed by the charity during the year was as follows:

2020 2019
No. No.
Charitable activities 1 1
he aggregate payroll costs of these persons were as follows:
2020 2019
£ £
Wages and salaries 24,604 24,193
. Tangible Assets
Land Plant and Equipment Total
and Machinery
Buildings
Total £ £ £ £
Cost
As at 1stJanuary 2020 870,512 16,723 6,412 893,647
Additions (Write off) 27,996 567 2,831 31,394
As at 31stDecember 2020 898,508 17,290 9,243 925,041
Depreciation
As at 1stJanuary 2020 17,309 3,646 - 20,955
Charge for Year 17,410 2,508 1,603
As at 31stDecember 2020 34,719 6,154 1,603 42,476
Net Book Value
As at 1stJanuary 2020 853,203 13,077 6,412 872,692
As at 31stDecember 2020 863,789 11,136 7,640 882,565

The aggregate payroll costs of these persons were as follows:

7. Tangible Assets

8. Taxation

The company is a registered charity and is, therefore, exempt from taxation.

Page 12

Lanivet Parish Sport and Recreational Trust

Notes to the Financial Statements for the Year Ended 31[st] December 2020

9. Debtors

Grants
Trade Debtors		 2020
£
20,225
2,436
22,661		 2019
£
300
2,299
2,599

10. Creditors: Amounts falling due within one year

Capital Creditors
Accruals and Deferred Income		 2020
£
10,166
5,246
15,412		 2019
£
1,815
5,159
6,974

11. Capital Commitments

apital Commitments
Building Contract 2020
£
-		 2019
£
-

12. Related parties

The charity is controlled by the trustees and committee members of the Trust.

13. Analysis of funds

At 1st January Incoming Resources At 31st
2020 Resources Expanded December
2020

Page 13

Lanivet Parish Sport and Recreational Trust

Notes to the Financial Statements for the Year Ended 31[st] December 2020

General Funds
Unrestricted general funds
Designated Minibus fund
Unrestricted income fund
Restricted Funds
Restricted funds spent on capital
not yet amortised to the SOFA
Big Lottery
Awards for All
Sita
Football Foundation
Bernard Sunley Charitable Trust
Garfield Weston Foundation
Cornwall Community Foundation
Playing Fields Legacy Fund
Sport England
14. Net assets by fund
Fixed Assets
Current Assets
Creditors: Amounts falling
due within one year
Net Assets		 £
92,812
8,200
101,012

495,250
13,190
107,500
65,975
10,000
20,000
1,400
5,000
65,856
784,171

885,183
Unrestricted
funds

£

90,116
50,191
(15,412)
124,895		 £
82,923
-
82,923
-
9,500
-
-
-
-
11,500
-
7,645
28,645

111,568
Restricted
income
funds
£


792,449

-

-
792,449		 £
(52,964)
(6,076)
(59,040)
(11,154)
(2,003)
(2,421)
(1,486)
(225)
(451)
(1,031)
(112)
(1,484)
(20,367)

(79,407)
Total
funds
£


882,565

50,191

(15,412)

917,344		 £
122,771
2,124
124,895
484,096
20,687
105,079
64,489
9,775
19,549
11,869
4,888
72,017
792,449
917,344
Prior
year
funds
£

872,692

19,465
(6,974)
885,183

Page 14