**Registered number: 04103670 Charity number: 1117051**
## **HENDERSON TRUST**
**(A Company Limited by Guarantee) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Trust, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 9|
|**Independent Auditors' Report on the Financial Statements**|10 - 13|
|**Statement of Financial Activities**|14|
|**Balance Sheet**|15 - 16|
|**Statement of Cash Flows**|17|
|**Notes to the Financial Statements**|18 - 37|
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021**
|**Trustees**|C Brown|
|---|---|
||J Bryce (resigned 24 August 2021)|
||J Chambers (resigned 22 July 2020)|
||K Clipsham|
||S Earl|
||N V Harmer|
||L E McCartney-Gray (appointed 21 September 2020)|
||C E Parry-Jones|
||J Vitkovitch (appointed 13 October 2020)|
||L J Wilkinson|
|**Company registered**
**number**
04103670
**Charity registered**
**number**
1117051
**Registered office**
The Henderson Business Centre
51 Ivy Road
Norwich
Norfolk
NR5 8BF
**Company secretary**
Nicholas Craig
**Chief Executive Officer**
Nicholas Craig
**Independent auditors**
MA Partners Audit LLP
Chartered Accountants & Statutory Auditors
7 The Close
Norwich
Norfolk
NR1 4DJ
**Solicitors**
Leathes Prior
74 The Close
Norwich
NR1 4DR||
Page 1
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021**
The Trustees present their annual report together with the audited financial statements of the Trust for the year 1 April 2020 to 31 March 2021. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Trust qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
Henderson Trust's governing document is its Memorandum and Articles of Association which states that its objectives are '...to promote the public benefit of urban regeneration in areas of social and economic deprivation by all, or any, of the following means:
- To advance education and provide or assist in providing training
- To relieve unemployment
- To provide financial and technical assistance, business advice, training and employment opportunities - To provide facilities, services or assistance to people who are aged, have disabilities, sick or in need
- To promote good health
- To provide housing (not extending to relieving local authorities or other bodies of their statutory duty)
- To provide or improve community, social, recreational and leisure facilities
- To promote the conservation, protection and improvement of the physical and natural environment
- To improve infrastructure and transportation facilities
- To improve community safety through prevention and/or reduction of crime, anti-social behaviour, protection of property and support of victims of crime, and promote good community relations; and
- Such other means subject to the prior written consent of the Charity Commissioners.'
Henderson Trust's main objectives for the year were to:
1. Manage various assets to generate income
2. Promote and develop the community park
3. Contribute to community engagement and development
4. Fund and/or support project work in the community
5. Provide assistance in the community as a result of the COVID-19 pandemic
## **b. Strategies for achieving objectives**
Strategies chosen for achieving the stand objectives were to:
1. Fund (or continue to fund) a range of projects and activities
2. Fund projects through external contracts and others through directly employed staff
3. Work with partners to undertake community development
Page 2
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Objectives and activities (continued)**
## **c. Activities undertaken to achieve objectives**
Existing directly managed projects were:
1. The provision of support to vulnerable young people in the community
2. The provision of accommodation for local bodies
3. The provision of management support to various local charities and groups
4. The provision of activities and support to local families
5. The management of a local community centre
## **d. Public benefit**
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charitable company’s aims and objectives and in planning future activities and setting the grant making policy for the year.
## **Achievements and performance**
## **a. Review of activities**
Total incoming resources for the period were £608,132 (2020 - £550,887). Total resources expended were £574,280 (2020 - £606,117).
## **Cost of Achieving Objectives**
Community activity costs totaling £200,924 (2020 - £218,238) relate to community grants awarded and projects undertaken directly by the Trust.
Impact of Meeting Objectives (including types of outcomes achieved)
- Improved social cohesion
- Reduced levels of crime and criminality
- Increased participation in education, employment and training
The Trust uses a range of performance measures to monitor and manage the business effectively. There are both financial and non-financial, and the most significant of these are the key performance indicators (KPIs).
## **b. Key performance indicators**
The key financial performance indicators are grants receivable and project costs incurred. These KPIs indicate the volume of work the Trust has undertaken as well as the efficiency with which the work has delivered.
KPIs for the year, with comparatives, are as follows:
||**2021**|**2020**|
|---|---|---|
||£|£|
|Direct costs and grants less voluntary income|(310,318)|(454,646)|
|Investment income less support and governance costs|
344,170|399,416|
|Net movement in funds|(341,343)|(55,230)|
Page 3
## **HENDERSON TRUST (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The total funds of the charity were £5,743,791 at 31 March 2021 (2020 - £6,085,134). Free reserves, being unrestricted funds not represented by fixed assets, were £111,583 (2020 - £79,529).
The Trustees have identified a target level of free reserves of £100,000. In addition to the free reserves the Trust holds a portfolio of saleable property assets. There are no plans to sell these assets but they could be realised if required to meet costs or to fund desirable project work.
## **Structure, governance and management**
## **a. Constitution**
Henderson Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
The company is constituted under a Memorandum of Association and is a registered charity number 1117051.
The Henderson Trust is a registered charity and has a designated 'area of benefit'. The area covers the North and West Earlham, Larkman and Marlpit areas of Norwich and comprises approximately 4,000 households and approximately 12,000 residents.
Henderson Trust works in participation with residents and with providers of services to the public to reduce levels of disadvantage in the area, specifically those associated with:
- Crime and community safety
- Education
- Health
- Unemployment
- The physical environment
## **Henderson Trust - Mission**
The purpose of Henderson Trust is to:
Enable the community led, long lasting regeneration of the North and West Earlham, Larkham and Marlpit neighbourhoods of Norwich.
Page 4
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Structure, governance and management (continued)**
This will be done by:
- Helping to build partnerships between agencies and the community to benefit the lives of local residents
- Providing leadership, focus, support, and encouragement of these partnerships, making sure that members of the community feel able to improve their own lives
- Developing the skills and knowledge of local people, and creating and supporting buildings and services which will contribute to the long term success of the whole community
- Making sure that the community focused services are realistic, valuable and achievable as set down in the long term plans of Henderson Trust
## **b. Methods of appointment or election of Trustees**
The management of the Trust is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
## **c. Organisational structure and decision-making policies**
The Memorandum and Articles of Association allow for up to ten Trustees who are the guarantors of the charitable company. A minimum of six Trustees are to be local residents.
Trustees' and officers' liability insurance is in place.
Henderson Trust is governed by a Board of Trustees. The strategic direction and operational activities of the Trust are managed by a Chief Executive Officer who reports directly to Trustees at Board meetings. During the reporting period the following people have acted as Trustees:
C Brown
J Bryce (resigned 24 August 2021) J Chambers (resigned 22 July 2020) K Clipsham S Earl N V Harmer L E McCartney-Gray (appointed 21 September 2020)
C E Parry-Jones J Vitkovitch (appointed 13 October 2020)
L J Wilkinson (appointed Chair in May 2011)
Page 5
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Structure, governance and management (continued)**
## **Henderson Trust Board**
What it does...
- Defines and ensures compliance with the values and objectives of the Trust
- Establishes plans to achieve these Objectives
- Monitors the Trust's performance in relation to its plans, budget controls and decisions
- Approves each year's budget and accounts before publication
- Makes decisions of funding
- Satisfies itself that the Trust's affairs are conducted in accordance with generally accepted standardsof performance and propriety
- Decides on policies and procedures for the Trust
- Establishes and oversees a framework of delegation of its powers to committees and employees with proper systems of control
- Appoints senior management
- Takes appropriate legal and professional advice
## **Other Committees**
Henderson Trust's Board may delegate various powers to subcommittees. These committees are either empowered to make decisions for and on behalf of the Trust or else are empowered to make recommendations to the Board for decision. For all the Trust's committees:
- Members will be approved by the Board
- The Chair will be elected by the Board from its members
- A quorum of four will be established
- Henderson Trust staff may attend but will not be allowed to be members
- Members will be allowed only one vote
- There will be no further delegation of responsibilities
Nick Craig is the Chief Executive Officer (CEO) and Head of Charity. The CEO is authorised to:
- Undertake and oversee the day-to-day management of the charitable company
- Maintain a positive working relationship with all partners
- To support and guide the Board on all strategic and operational matters
- To ensure that financial standing orders are in place and are followed
- To manage staff and relationships with partners
## **d. Policies adopted for the induction and training of Trustees**
New Trustees are invited to attend briefing sessions to familiarise themselves with the Trust and its operational context. A handbook is given to each Trustee which contains key documents and information. Trustees are also supported to attend relevant, external training events where these will facilitate a greater understanding of their role.
Page 6
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Structure, governance and management (continued)**
## **e. Pay policy for key management personnel**
The Trustee's consider the Chief Executive Officer and the Business Support Manager as comprising the key management personnel of the charity in charge of directing and controlling the charity and the running and operating of the charity on a daily basis.
The pay of the Chief Executive Officer is based upon the consideration of numerous factors. These include benchmarking within the charity sector and across occupational classifications locally. The pay of all other staff is based upon nationally consulted and agreed National Joint Council for Local Government Services pay rates. Salaries are set bearing in mind the need to attract and retain staff and maintain levels of motivation. Salaries also reflect the unusual nature of the Trust's operations in that it is a charity which has some operations in a highly competitive and cost-sensitive sector. All salaries are reviewed at least annually and at this time the following factors are considered:
- National levels of pay award or pay restraint
- The relative performance of the employee and the organisation
- The Trust's ability to sustain payroll costs
## **f. Financial risk management**
The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
The most significant risks to the Trust have been identified as:
- Failure of plant and equipment
- Low demand for business accommodation
- Loss of existing tenancies
- IT system failures
- Destruction of property
- The viability of the charity
- The impact of the COVID-19 pandemic
For all these risks and all others recognised by the Trust there are preventative measures in place and mitigating strategies. Where appropriate this involves seeking professional, external advice and putting in place insurance arrangements.
The system of internal control includes:
- A review at each Board meeting of the risks the Trust may face, as a standard agenda item
- Regular identification and management of potential risks to the Trust
- A three year plan which sets out strategic risks
- An annual budget and quarterly reviews of expenditure against budget
- Regular review of all policies and procedures
- Clearly defined limits of authority
Page 7
## **HENDERSON TRUST (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Plans for future periods**
## **Priorities for 2021/22**
Experience has shown that the resources of the Charity are insufficient to make a positive contribution to all of the Trust’s objectives in any one year. It is therefore necessary to identify a smaller number of operational themes which reflect the Charity’s ability to make a difference, and the resources and skills at the Charity’s disposal. The operational themes are identified in the Business Plan and are reviewed annually.
The operational themes for the period April 2021 to March 2022 will be:
- Learning
- - Employment
- The Henderson Community Park
- Social inclusion
These themes will be addressed in the context of the impact of the global COVID-19 pandemic, and the local and national recovery from it.
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Trust and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Trust's transactions and disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 8
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Disclosure of information to auditors**
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Approved by order of the members of the Board of Trustees and signed on their behalf by:
................................................ **L J Wilkinson** Chair of Trustees
Date: 16 December 2021
Page 9
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HENDERSON TRUST**
## **Opinion**
We have audited the financial statements of Henderson Trust (the 'Trust') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 10
**HENDERSON TRUST**
**(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HENDERSON TRUST (CONTINUED)**
## **Other information**
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' Report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
Page 11
**HENDERSON TRUST**
**(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HENDERSON TRUST (CONTINUED)**
## **Responsibilities of Trustees**
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditors' responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud**
The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charity.
Our approach was as follows:
- We obtained an understanding of the legal and regulatory requirements applicable to the charity and considered that the most significant are the Charities Act 2011 and UK financial reporting standards as issued by the Financial Reporting Council.
- We obtained an understanding of how the charity complies with these requirements by discussions with those charged with governance.
- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with those charged with governance.
- We inquired of those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.
Page 12
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HENDERSON TRUST (CONTINUED)**
Based on this understanding, we designed specific appropriate audit procedures to identify instances of noncompliance with laws and regulations. This included making enquiries of those charged with governance and obtaining additional corroborative evidence as required.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
## **Use of our report**
This report is made solely to the charitable company's Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's Trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its Trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Alice Lynch BSc ACA DChA (Senior Statutory Auditor)**
for and on behalf of
## **MA Partners Audit LLP**
Chartered Accountants & Statutory Auditors 7 The Close Norwich Norfolk NR1 4DJ
Date: 21 December 2021
Page 13
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021**
|**Note**
**Income from:**
Donations and legacies
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
**Net income/(expenditure) before net**
**gains on investments**
Net gains on investments
**Net income/(expenditure)**
Transfers between funds
17
**Net movement in funds before other**
**recognised gains/(losses)**
**Other recognised gains/(losses):**
Loss on impairment of fixed assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**104,008**
**430,707**
**534,715**
**395,014**
**395,014**
**139,701**
**472,805**
**612,506**
**(110,523)**
**501,983**
**(848,000)**
**(346,017)**
**5,785,306**
**(346,017)**
**5,439,289**|**Restricted**
**funds**
**2021**
**£**
**73,417**
**-**
**73,417**
**179,266**
**179,266**
**(105,849)**
**-**
**(105,849)**
**110,523**
**4,674**
**-**
**4,674**
**299,828**
**4,674**
**304,502**|**Total**
**funds**
**2021**
**£**
**177,425**
**430,707**
**608,132**
**574,280**
**574,280**
**33,852**
**472,805**
**506,657**
**-**
**506,657**
**(848,000)**
**(341,343)**
**6,085,134**
**(341,343)**
**5,743,791**|_Total_
_funds_
_2020_
_£_
_60,628_
_490,259_
_550,887_
_606,117_
_606,117_
_(55,230)_
_-_
_(55,230)_
_-_
_(55,230)_
_-_
_(55,230)_
_6,140,364_
_(55,230)_
_6,085,134_|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 18 to 37 form part of these financial statements.
Page 14
## **HENDERSON TRUST (A Company Limited by Guarantee) REGISTERED NUMBER: 04103670**
## **BALANCE SHEET AS AT 31 MARCH 2021**
|**Note**
**Fixed assets**
Tangible assets
12
Investment property
13
**Current assets**
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
17
Unrestricted funds
17
**Total funds**|**106,137**
**167,472**
**273,609**
**(129,831)**|**2021**
**£**
**3,192,208**
**2,407,805**
**5,600,013**
**143,778**
**5,743,791**
**5,743,791**
**304,502**
**5,439,289**
**5,743,791**|_103,034_
_134,058_
_237,092_
_(131,623)_|_2020_
_£_
_4,044,665_
_1,935,000_|
|---|---|---|---|---|
|||||_5,979,665_
_105,469_|
|||||_6,085,134_|
||||||
|||||_6,085,134_|
|||||_299,828_
_5,785,306_|
||||||
|||||_6,085,134_|
Page 15
## **HENDERSON TRUST**
**(A Company Limited by Guarantee) REGISTERED NUMBER: 04103670**
# **BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2021**
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 144 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**L J Wilkinson** Chair of Trustees
Date: 16 December 2021
The notes on pages 18 to 37 form part of these financial statements.
Page 16
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021**
|**Note**
**Cash flows from operating activities**
Net cash used in operating activities
20
**Cash flows from investing activities**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
21
The notes on pages 18 to 37 form part of these financial statements|**2021**
**£**
**48,458**
**(15,044)**
**(15,044)**
**33,414**
**134,058**
**167,472**|_2020_
_£_
_(90,164)_
_(10,651)_
**(10,651)**
**(100,815)**
_234,873_
_134,058_|
|---|---|---|
Page 17
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. General information**
Henderson Trust is a company limited by guarantee and registered in England and Wales. The Members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per Member of the company.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Henderson Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
The Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. New and different operational requirements which have appeared as a result of COVID-19, are not anticipated to threaten the Trust as a going concern. For this reason, the Trustees continue to adopt the going concern basis in preparing the financial statements.
## **2.3 Income**
All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants (including government grants) are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Trust's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
Page 18
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Trust; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Tangible fixed assets and depreciation**
At each reporting date the Trustees assess whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Tangible fixed assets are carried at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
|Freehold property|- Not depreciated|
|---|---|
|Equipment|- 10% - 33% straight line|
|Motor vehicles|- 20% straight line|
|Furniture and fixtures|- 4% - 10% straight line|
|Play equipment|- 10% straight line|
No depreciation has been charged on the freehold property as the Trustees consider the depreciation charge is not material because the estimated residual value of the asset is not materially different from the carrying value of the asset.
## **2.7 Investment property**
Investment property, which is property held to earn rentals and / or for capital appreciation, is measured initially at its cost, including transaction costs. Subsequent to initial recognition, investment property is measured at fair value. Gains or losses arising from changes in the fair value of investment property are included in the Statement of Financial Activities.
## **2.8 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.9 Cash at bank and in hand**
Cash at bank and 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.
Page 19
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **2. Accounting policies (continued)**
## **2.10 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.11 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.
## **2.12 Pensions**
The Trust operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Trust to the fund in respect of the year.
## **2.13 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Trust and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Trust for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 20
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **3. Critical accounting estimates and areas of judgment**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical accounting estimates and assumptions:
## _**Impairments**_
Impairments are recognised where the Trustees believe that there is an indication that the carrying amount of an asset exceeds its recoverable amount. The freehold property was valued on 11 February 2021 by an external valuer, S M L Kingston MRICS of Roche Chartered Surveyors. The valuations were in accordance with the requirements and guidelines set out in the Royal Institution of Chartered Surveyors (RICS) Valuation – Global Standards 2020 (which incorporate the International Valuation Standards 2017) and the UK national supplement. As a result of this valuation, an impairment charge of £848,000 was recognised during the current year.
## _**Investment property**_
The Trustees use valuation techniques involving estimation to determine the fair value of the Trust's investment property. Estimates of fair value between independent external professional valuations are based on a combination of current market conditions, changes in tenure arrangements and guidance from external sources. The Trustees base their assumptions on observable data as far as possible but this may not always be available. Estimated fair value may vary from the actual price that would be achieved in an arm's length commercial sale transaction at the reporting date. The Trustees consider that the fair value of investment property has changed in the year in line with the professional valuation performed on 11 February 2021 by an external valuer, S M L Kingston MRICS of Roche Chartered Surveyors and reflected in these financial statements.
The most significant area of uncertainty that may affect the carrying value of assets and liabilities held by the Trust are market-driven changes to property values.
Page 21
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **4. Income from donations and legacies**
|**Unrestricted**
**funds**
**2021**
**£**
Donations
5,857
Grants
10,000
Government funding - Coronavirus Job Retention Scheme
88,151
104,008|**Restricted**
**funds**
**2021**
**£**
-
73,417
-
73,417|**Total**
**funds**
**2021**
**£**
**5,857**
**83,417**
**88,151**|
|---|---|---|
|||**177,425**|
The Charity furloughed some of its staff under the government's Coronavirus Job Retention Scheme. The funding of £88,151 relates to staff costs which are included in note 10 below.
|Donations
Grants|_Unrestricted_
_funds_
_2020_
_£_
_12,399_
_3,000_
_15,399_|_Restricted_
_funds_
_2020_
_£_
_-_
_45,229_
_45,229_|_Total_
_funds_
_2020_
_£_
_12,399_
_48,229_|
|---|---|---|---|
||||_60,628_|
Page 22
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **5. Investment income**
|**Unrestricted**
**funds**
**2021**
**£**
Rental income
242,521
Bank interest
197
Fire station rental income
187,989
430,707
_Unrestricted_
_funds_
_2020_
_£_
Rental income
_301,736_
Bank interest
_534_
Fire station rental income
_187,989_
_490,259_|**Total**
**funds**
**2021**
**£**
**242,521**
**197**
**187,989**|
|---|---|
||**430,707**|
||_Total_
_funds_
_2020_
_£_
_301,736_
_534_
_187,989_|
||_490,259_|
## **6. Analysis of grants**
Grants are made to community organisations, supporting projects that enhance the local community. Details of grants made during the year are set out below:
|Foodbank
NR5 Community Hub|**2021**
**£**
**11,100**
**6,700**
**17,800**|_2020_
_£_
_11,100_
_-_|
|---|---|---|
|||_11,100_|
Page 23
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **7. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2021**
**£**
Own project expenditure
312,250
REACH project
-
Community Development
-
General overheads
82,764
Youth drop in
-
Girls group
-
Covid 19 Response
-
395,014
_Unrestricted_
_funds_
_2020_
_£_
Own project expenditure
_316,184_
REACH project
_-_
Community Development
_-_
General overheads
_86,549_
Youth drop in
_-_
Girls group
_-_
_402,733_|**Restricted**
**funds**
**2021**
**£**
-
53,254
106,885
-
810
786
17,531
179,266
_Restricted_
_funds_
_2020_
_£_
_-_
_52,833_
_148,648_
_-_
_1,431_
_472_
_203,384_|**Total**
**funds**
**2021**
**£**
**312,250**
**53,254**
**106,885**
**82,764**
**810**
**786**
**17,531**|
|---|---|---|
|||**574,280**|
|||_Total_
_funds_
_2020_
_£_
_316,184_
_52,833_
_148,648_
_86,549_
_1,431_
_472_|
|||_606,117_|
Page 24
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **8. Analysis of expenditure by activities**
|Own project expenditure
REACH project
Community Development
General overheads
Youth drop in
Girls group
Covid 19 Response
Own project expenditure
REACH project
Community Development
General overheads
Youth drop in
Girls group|**Activities**
**undertaken**
**directly**
**2021**
**£**
286,819
53,254
106,885
3,858
810
786
17,531
469,943
_Activities_
_undertaken_
_directly_
_2020_
_£_
_297,036_
_52,833_
_148,648_
_3,754_
_1,431_
_472_
_504,174_|**Grant**
**funding of**
**activities**
**2021**
**£**
17,800
-
-
-
-
-
-
17,800
_Grant_
_funding of_
_activities_
_2020_
_£_
_11,100_
_-_
_-_
_-_
_-_
_-_
_11,100_|**Support**
**costs**
**2021**
**£**
7,631
-
-
78,906
-
-
-
86,537
_Support_
_costs_
_2020_
_£_
_8,048_
_-_
_-_
_82,795_
_-_
_-_
_90,843_|**Total**
**funds**
**2021**
**£**
**312,250**
**53,254**
**106,885**
**82,764**
**810**
**786**
**17,531**|
|---|---|---|---|---|
|||||**574,280**|
|||||_Total_
_funds_
_2020_
_£_
_316,184_
_52,833_
_148,648_
_86,549_
_1,431_
_472_|
|||||_606,117_|
Page 25
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **8. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Staff costs
Depreciation
Operating costs
Staff costs
Depreciation
Operating costs
Staff costs
Depreciation
Operating costs|**Regenerat'n**
**& Facility**
**Manag'ent**
**2021**
**£**
123,395
19,501
143,923
286,819
_Regenerat'n_
_& Facility_
_Manag'ent_
_2020_
_£_
_130,197_
_16,853_
_149,986_
_297,036_|**REACH**
**project**
**2021**
**Community**
**Devel'ent**
**2021**
**Cadge Road**
**Community**
**Centre**
**2021**
**£**
**£**
**£**
35,949
103,680
3,858
-
-
-
17,305
3,205
-
53,254
106,885
3,858
**Girls Group**
**2021**
**Covid 19**
**Response**
**2021**
**£**
**£**
-
-
-
-
786
17,531
786
17,531
_REACH_
_project_
_2020_
_Community_
_Development_
_2020_
_Cadge Road_
_Community_
_Centre_
_2020_
_£_
_£_
_£_
_34,961_
_100,834_
_3,754_
_-_
_-_
_-_
_17,872_
_47,814_
_-_
_52,833_
_148,648_
_3,754_|**Youth Drop**
**In**
**2021**
**£**
-
-
810|
|---|---|---|---|
|||||
||||810|
||||**Total**
**funds**
**2021**
**£**
**266,882**
**19,501**
**183,560**|
||||**469,943**|
||||_Youth Drop_
_In_
_2020_
_£_
_-_
_-_
_1,431_|
|||||
||||_1,431_|
Page 26
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **8. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs (continued)**
|Staff costs
Depreciation
Operating costs|_Girls Group_
_2020_
_£_
_-_
_-_
_472_
_472_|_Covid 19_
_Response_
_2020_
_£_
_-_
_-_
_-_
_-_|_Total_
_funds_
_2020_
_£_
_269,746_
_16,853_
_217,575_|
|---|---|---|---|
||||_504,174_|
## **Analysis of support costs**
|Staff costs
General overheads
Governance costs|**Total**
**funds**
**2021**
**£**
**41,427**
**37,479**
**7,631**
**86,537**|_Total_
_funds_
_2020_
_£_
_43,559_
_39,236_
_8,048_|
|---|---|---|
|||_90,843_|
## **9. Auditors' remuneration**
_-_ The auditors' remuneration amounts to an auditor fee of £4,700 _(2020 £4,600)_ , and other services of £Nil ( _2020_ - _£576_ ).
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2021**
**£**
**272,595**
**20,772**
**14,942**
**308,309**|_2020_
_£_
_278,917_
_19,932_
_14,456_|
|---|---|---|
||||
|||_313,305_|
Page 27
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **10. Staff costs (continued)**
The average number of persons employed by the Trust during the year was as follows:
|Management
Administration
Project based|**2021**
**No.**
**2**
**1**
**8**
**11**|_2020_
_No._
_2_
_1_
_9_|
|---|---|---|
||||
|||_12_|
The average headcount expressed as full-time equivalents was:
|Management
Administration
Project based|**2021**
**No.**
**2**
**1**
**7**
**10**|_2020_
_No._
_2_
_1_
_7_|
|---|---|---|
||||
|||_10_|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|||**2021**|_2020_|
|---|---|---|---|
|||**No.**|_No._|
|In the band £60,001|- £70,000|**1**|_1_|
The total remuneration for key management personnel, including employer pension contributions and employer national insurance contributions, for the year totalled **£101,939** ( _2020 - £_ 101,673).
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2020 - £NIL)_ .
During the year ended 31 March 2021, no Trustee expenses have been incurred _(2020 - £NIL)_ .
Page 28
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **12. Tangible fixed assets**
|**Cost or valuation**
At 1 April 2020
Additions
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for the year
Impairment charge
At 31 March 2021
**Net book value**
At 31 March 2021
_At 31 March 2020_|**Freehold**
**property**
**£**
**8,242,849**
**-**
**8,242,849**
**4,277,849**
**-**
**848,000**
**5,125,849**
**3,117,000**
_3,965,000_|**Equipment**
**£**
**38,774**
**3,155**
**41,929**
**33,462**
**4,031**
**-**
**37,493**
**4,436**
_5,312_|**Motor**
**vehicles**
**£**
**-**
**8,394**
**8,394**
**-**
**1,678**
**-**
**1,678**
**6,716**
_-_|**Fixtures**
**and**
**fittings**
**£**
**54,492**
**3,495**
**57,987**
**16,835**
**5,570**
**-**
**22,405**
**35,582**
_37,657_|**Play**
**equipment**
**£**
**154,505**
**-**
**154,505**
**117,809**
**8,222**
**-**
**126,031**
**28,474**
_36,696_|**Total**
**£**
**8,490,620**
**15,044**|
|---|---|---|---|---|---|---|
|||||||**8,505,664**|
|||||||**4,445,955**
**19,501**
**848,000**|
|||||||**5,313,456**|
|||||||**3,192,208**|
|||||||_4,044,665_|
The freehold property was valued on 11 February 2021 by an external valuer, S M L Kingston MRICS of Roche Chartered Surveyors. The valuations were in accordance with the requirements and guidelines set out in the Royal Institution of Chartered Surveyors (RICS) Valuation – Global Standards 2020 (which incorporate the International Valuation Standards 2017) and the UK national supplement. The Trustees do not believe any further material movement in valuation has arisen since that date.
Page 29
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **13. Investment property**
|**Valuation**
At 1 April 2020
Surplus on revaluation
At 31 March 2021|**Freehold**
**investment**
**property**
**£**
**1,935,000**
**472,805**|
|---|---|
||**2,407,805**|
The 2021 valuations were made by the Trustees, based on an external valuation by S M L Kingston MRICS of Roche Chartered Surveyors on 11 February 2021, on an open market value for existing use basis.
## **14. Debtors**
|**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income|**2021**
**£**
**91,258**
**160**
**14,719**
**106,137**|_2020_
_£_
_87,236_
_161_
_15,637_|
|---|---|---|
||||
|||_103,034_|
## **15. Creditors: Amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2021**
**£**
**574**
**21,256**
**44,708**
**63,293**
**129,831**|_2020_
_£_
_11,521_
_19,622_
_42,718_
_57,762_|
|---|---|---|
||||
|||_131,623_|
Page 30
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **16. Deferred income**
|Deferred income at 1 April 2020
Resources deferred during the year
Amounts released from previous periods
**Deferred income at 31 March 2021**|**2021**
**£**
**45,233**
**47,762**
**(45,233)**
**47,762**|_2020_
_£_
_46,490_
_45,233_
_(46,490)_
_45,233_|
|---|---|---|
Page 31
## **HENDERSON TRUST (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **17. Statement of funds**
## **Statement of funds - current year**
|**Balance at 1**
**April 2020**
**£**
**Unrestricted**
**funds**
General Funds -
all funds
**5,785,306**
**Restricted**
**funds**
Games Area
**5,396**
Capital Fund
**262,825**
Community
Development
**-**
REACH
**-**
Fitness
Equipment
**8,000**
Youth Drop In
**16,650**
Outside The Box
**4,665**
Girls Group
**2,292**
Covid 19
Response
**-**
**299,828**
**Total of funds**
**6,085,134**|**Income**
**£**
**Expenditure**
**£**
**534,715**
**(395,014)**
**-**
**-**
**-**
**-**
**49,616**
**(106,885)**
**-**
**(53,254)**
**-**
**-**
**-**
**(810)**
**-**
**-**
**-**
**(786)**
**23,801**
**(17,531)**
**73,417**
**(179,266)**
**608,132**
**(574,280)**|**Transfers**
**in/out**
**£**
**(110,523)**
**-**
**-**
**57,269**
**53,254**
**-**
**-**
**-**
**-**
**-**
**110,523**
**-**|**Gains/**
**(Losses)**
**£**
**(375,195)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**(375,195)**|**Balance at**
**31 March**
**2021**
**£**
**5,439,289**|
|---|---|---|---|---|
|||||**5,396**
**262,825**
**-**
**-**
**8,000**
**15,840**
**4,665**
**1,506**
**6,270**|
|||||**304,502**|
|||||**5,743,791**|
Page 32
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **17. Statement of funds (continued)**
**Games Area** - This fund relates to a grant received to fund new play equipment.
The restricted **capital fund** represents restricted fixed asset funding. Fixed asset funding has been treated as restricted as should any grant funded asset be disposed of, part or all of the proceeds may be subject to clawback by the funders EEDA.
**Community Development** - the funds received relate to grants specifically received for the Sorted, Connect and Not About the Bike projects the charity is running. Funds have been transferred from the General Fund to clear the in-year deficit.
**REACH** - This fund is for the provision of additional support activities for vulnerable young people. Funds have been transferred from the General Fund to clear the in-year deficit.
**REACH Time For You** - This fund is for a project to provide emotional wellbeing support to young people.
**Fitness Equipment** - This fund is for new outdoor fitness equipment purchased and installed near to the running track and for the creation of a footpath.
**Youth Drop In** - funding was received to support the youth drop in, an informal youth club which provides a safe place for young people with fun activities and a meal.
**Outside The Box** - ID project - funding a sex and relationships course with an emphasis on body positivity and healthy relationships.
**Girls Group** - This fund relates to funding received for a formal youth club with targeted admission, for girls who are more vulnerable and would benefit from the social aspects of the group.
**Covid 19 Response** - This fund relates to funding received to enable the Trust to run and support Covid related respones, primarily the distribution of meals to members of the community.
Page 33
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **17. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Games Area
Capital Fund
Community Development
REACH
Fitness Equipment
Youth Drop In
Outside The Box
Girls Group
**Total of funds**|_Balance at_
_1 April 2019_
_£_
_5,825,990_
_5,396_
_262,825_
_12,643_
_-_
_8,000_
_18,081_
_4,665_
_2,764_
_314,374_
_6,140,364_|_Income_
_£_
_505,658_
_-_
_-_
_45,229_
_-_
_-_
_-_
_-_
_-_
_45,229_
_550,887_|_Expenditure_
_£_
_(402,733)_
_-_
_-_
_(148,648)_
_(52,833)_
_-_
_(1,431)_
_-_
_(472)_
_(203,384)_
_(606,117)_|_Transfers_
_in/out_
_£_
_(143,609)_
_-_
_-_
_90,776_
_52,833_
_-_
_-_
_-_
_-_
_143,609_
_-_|_Balance at_
_31 March_
_2020_
_£_
_5,785,306_|
|---|---|---|---|---|---|
||||||_5,396_
_262,825_
_-_
_-_
_8,000_
_16,650_
_4,665_
_2,292_|
||||||_299,828_|
||||||_6,085,134_|
Page 34
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **18. Summary of funds**
## **Summary of funds - current year**
|**Balance at 1**
**April 2020**
**£**
General funds
**5,785,306**
Restricted funds
**299,828**
**6,085,134**|**Income**
**£**
**Expenditure**
**£**
**534,715**
**(395,014)**
**73,417**
**(179,266)**
**608,132**
**(574,280)**
_Balance at_
_1 April 2019_
_£_
_Income_
_£_
_5,825,990_
_505,658_
_314,374_
_45,229_
_6,140,364_
_550,887_|**Transfers**
**in/out**
**£**
**(110,523)**
**110,523**
**-**
_Expenditure_
_£_
_(402,733)_
_(203,384)_
_(606,117)_|**Gains/**
**(Losses)**
**£**
**(375,195)**
**-**
**(375,195)**
_Transfers_
_in/out_
_£_
_(143,609)_
_143,609_
_-_|**Balance at**
**31 March**
**2021**
**£**
**5,439,289**
**304,502**|
|---|---|---|---|---|
|||||**5,743,791**|
|||||_Balance at_
_31 March_
_2020_
_£_
_5,785,306_
_299,828_|
|**Summary of funds - prior year**|||||
|General funds
Restricted funds|||||
|||||_6,085,134_|
## **19. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2021**
**£**
Tangible fixed assets
2,919,901
Investment property
2,407,805
Current assets
241,414
Creditors due within one year
(129,831)
**Total**
5,439,289|**Restricted**
**funds**
**2021**
**£**
272,307
-
32,195
-
304,502|**Total**
**funds**
**2021**
**£**
**3,192,208**
**2,407,805**
**273,609**
**(129,831)**|
|---|---|---|
|||**5,743,791**|
Page 35
**(A Company Limited by Guarantee)**
## **HENDERSON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **19. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Investment property
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2020_
_£_
_3,770,777_
_1,935,000_
_211,152_
_(131,623)_
_5,785,306_|_Restricted_
_funds_
_2020_
_£_
_273,888_
_-_
_25,940_
_-_
_299,828_|_Total_
_funds_
_2020_
_£_
_4,044,665_
_1,935,000_
_237,092_
_(131,623)_|
|---|---|---|---|
||||_6,085,134_|
## **20. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
Increase in debtors
Decrease in creditors
Investment property revaluation
**Net cash provided by/(used in) operating activities**|**2021**
**£**
**506,657**
**19,501**
**(3,103)**
**(1,792)**
**(472,805)**
**48,458**|_2020_
_£_
_(55,230)_|
|---|---|---|
|||_16,853_
_(43,318)_
_(8,469)_
_-_|
||||
|||_(90,164)_|
## **21.**
## **Analysis of cash and cash equivalents**
|Cash in hand
**Total cash and cash equivalents**|**2021**
**£**
**167,472**
**167,472**|_2020_
_£_
_134,058_|
|---|---|---|
||||
|||_134,058_|
Page 36
## **HENDERSON TRUST**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **22. Analysis of changes in net debt**
|Cash at bank and in hand|**At 1 April**
**2020**
**£**
**134,058**
**134,058**|**Cash flows**
**£**
**33,414**
**33,414**|**At 31 March**
**2021**
**£**
**167,472**|
|---|---|---|---|
||||**167,472**|
## **23. Pension commitments**
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund, The pension cost charge represents contributions payable by the company to the fund and amount to £14,942 ( _2020 - £14,456_ ).
## **24. Operating lease commitments**
At 31 March 2021 the Trust had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**2021**
**£**
**2,507**
**3,123**
**5,630**|_2020_
_£_
_1,769_
_2,267_|
|---|---|---|
||||
|||_4,036_|
## **25. Related party transactions**
During the year the charity made purchases of £7,613 ( _2020 - £4,363_ ) from A W Electrical Services Norwich, a business under the control of a close family member of Lynda Wilkinson. Lynda Wilkinson is also a director of A W Electrical Services Norwich.
Page 37