Company registration number: 06330349 Charity registration number: 1121854
Stone Community Hub Ltd
(A company limited by guarantee)
Annual Report and Financial Statements for the Year Ended 31 July 2021
Daryl Denson ACMA VAST The Dudson Centre Hope Street Stoke-on-Trent ST1 5DD
Stone Community Hub Ltd
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Chairman's Report | 2 |
| Trustees Report (incorporating the Directors' Report) | 3 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 to 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 22 |
Stone Community Hub Ltd
Reference and Administrative Details
Patron Viscount Hugo Sandon Trustees Ian Fordham Chair until 4 February 2021 Allan Shepherd Chair from 4 February 2021 Kathryn Platt Treasurer John Haine Secretary Nicholas Frankish Simon Walsh Lynda Cuthbert Senior Management Team Emma Walton, Manager Principal Office Frank Jordan Centre Lichfield Street Stone Staffordshire ST15 8NA The charity is incorporated in England. Company Registration Number 06330349 Charity Registration Number 1121854 Bankers Barclays Bank 45 High Street Stone Staffordshire ST15 8AQ Aldermore Bank PLC Apex Plaza Forbury Road Reading RG1 1AX Independent Examiner Daryl Denson ACMA VAST The Dudson Centre Hope Street Stoke-on-Trent ST1 5DD
Page 1
Stone Community Hub Ltd
Chairman's Report for the Year Ended 31 July 2021
Chairman's report
Thank you for your interest in Stone Community Hub and welcome to our Annual Report for 2020/2021.
It has been a very different year for the Hub as you would expect, our doors have in the main stayed shut due to COVID-19 restrictions but demand for food parcels increased dramatically. We supported a substantial amount of people by delivering to those who were isolating during this period, and we have been fortunate to enjoy the continuing support of staff and volunteers (both existing and new) at a time when we were often providing as many as 10 times the number of food parcels as in ‘more normal’ times.
Trustees would like to record their thanks to the growing number of Members and our many donors whose generosity has enabled the Hub to continue its operations at a time when the usual fund-raising activities have been suspended due to the Pandemic. We have been fortunate to receive emergency grant support from Town, Borough and County authorities and from several other providers. This income, together with that from the continuing generosity of local residents, has enabled us to continue operations and strengthen our reserves during the lockdown.
We would also like to place on record our appreciation of the support received from Stone Town Council that enabled us to continue operations at the Frank Jordan Centre during lockdown, and expand into a second room when demand necessitated increased space for food storage and more working area due to social distancing requirements.
We are currently returning to ‘more normal’ services with the drop-in now open and the return of Hub Grub imminent. We are seeing an increase in the adverse effects of social isolation amongst existing clients and indeed more widely - and we are working to maintain what contacts we can and looking at new ways to help alleviate the issue.
My fellow Trustees and I would like to thank my predecessor as Chair, Ian Fordham, for his work in steering the Hub through a difficult period. We would also like to welcome Lynda Cuthbert who has joined us as a trustee with a specific focus on HR.
I would like to conclude by thanking Viscount Hugo Sandon for his continuing support as Patron of the Hub and our many supporters in the local community as well as our staff, members and volunteers, for making our work with clients possible.
On a personal note, I am coming to the end of my term of office as Chair and would like to thank you all for your support during what have been difficult yet rewarding times.
Allan Shepherd Chair
Page 2
Stone Community Hub Ltd
Trustees Report (incorporating the Directors' Report)
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 July 2021.
Structure, governance and management
Nature of governing document
Stone Community Hub is a company limited by guarentee. It is operated under the rules of its memorandum and articles of association adopted 1 August 2007, amended by certificate of incorporation on change of name dated 3 February 2015 and amended Articles approved and adopted at 29 January 2021 AGM.
Recruitment and appointment of trustees
Trustees set the Hub’s goals and support staff to achieve them. These are voluntary positions that require attendance at regular Trustees meetings plus some preparatory and follow-up work as required. Above all we are looking for enthusiasm, integrity and commitment.
All our trustees should be:
-
committed to improving the lives of people in the Stone area
-
willing to devote the necessary time and effort to their trustee responsibilities
• interested in contributing to the development of a small charity organisation
• possessed of good judgement, ready to speak their mind and willing to take a team approach to problem solving and management
We welcome approaches from interested individuals, as well as advertising on charity sector websites (e.g. do-it.org) and in local media and making direct approaches to professional bodies and other voluntary organisations. We take care to respect diversity and manage any conflicts of interest. Candidates are encouraged to visit the Hub’s website and if possible, one of our sessions at the Frank Jordan Centre. Referees will be approached to provide references as to the candidate’s suitability for the role. At a minimum, a Standard DBS check is obtained on all Trustees. Candidates are invited to meet with the Chair and the Treasurer, and to attend a Trustees meeting as an observer. An existing Trustee can help with the process or answer any queries. At a minimum, a Standard DBS check is obtained on all Trustees.
Induction and training of trustees
New Trustees receive an information pack on the Hub’s purposes, operations, fundraising activities and their own responsibilities. Trustees are encouraged to expand their skills through additional training or support.
Objectives and activities
Objects and aims
Our Aims and Objectives (as specified in the Articles of Association) are:
To act as a resource for young people living in Stone (Staffordshire), and district, by providing advice and assistance and organizing programmes of physical, educational and other activities as a means of:
(a) advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;
(b) advancing education; and
(c) providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.
Page 3
Stone Community Hub Ltd
Trustees Report (incorporating the Directors' Report)
Public benefit
Stone Community Hub is a registered charity dedicated to improving the lives of residents of Stone and surrounding villages through support and advice. Our activities fall into 2 main areas:
-
combating social isolation – drop-in centre, people to talk to, crafting & refreshments;
-
reducing poverty and its effects – advice centre, job club & free emergency parcels.
During the summer holidays and at most school holiday times we offer one session per week of parent/child craft or cookery. Since March 2020 our activities have been limited by COVID-19 and resulting restrictions. We continued to run our Food Bank, meeting a huge increase in demand, and kept in touch with clients old and new by telephone, email, social media and in person (respecting social distancing).
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Use of volunteers
Contribution made by volunteers
Without the support of our volunteers (55 in total, including those recruited during the pandemic) we would not be able to open or operate as we do.
Our volunteers: make coffee & tea, answer the phone, talk to the people who come in, look after our IT systems, help repair people’s computers, help people with their CVs, give interview advice and practice, give people lifts, help with cookery groups, help with online applications such as Blue Badges, unpack and sort food donations, help prepare emergency parcels, deliver emergency parcels, help with admin, run craft sessions and promote what we do.
Patron
The Trustees continue to benefit from the support and advice of our Patron, Viscount Hugo Sandon.
Achievements and performance
Looking back on the year
In Autumn 2020 we were again very well supported by local schools in their Harvest collections, with stock levels in the Food Bank topped up magnificently! Due to the number of food parcels being provided, this was an amazing and unexpected bonus due to the difficulties schools encountered during lockdowns with closures, re-openings, opening for vulnerable and keyworker children etc. Obviously, it has been an incredibly difficult period financially for many, many local people so to receive this level of support from parents and carers was amazing.
Back in November 2020, we are very proud to have won the Social Wellbeing Category at the Stafford Borough Council Community Awards 2020 for our response to COVID-19. An extremely well-deserved recognition of the momentous dedication and tireless support of our staff and volunteers.
Christmas 2020 certainly was very different from previous years. Usually, we hold a Christmas party where we provide a three-course meal as well as gifts and a few games. We couldn’t, of course, do that in 2020 – so we decided to take the Christmas festivities out to people instead! We provided, as well as food parcels, 79 Christmas hampers with festive treats to provide a little Christmas cheer to nearly 250 local people, including over 130 children and young people, and Christmas gifts for every single member of each family supported. The feedback we received was overwhelming; the gifts and goodies we gave out certainly brought smiles (and quite a few tears!) to the faces of local families who were desperately worried about not being able to afford any of the little treats they normally could. We were so well supported by many businesses, organisations such as Rotary, Lions, Round Table etc. as well as too many individuals and companies to mention, and this whole event was achieved at no financial cost to the Hub, which was an amazing achievement.
Page 4
Stone Community Hub Ltd
Trustees Report (incorporating the Directors' Report)
In early 2021, we were overwhelmed to receive a fabulous and very unexpected £1,250 from a local resident who decided to undertake an endurance challenge to raise funds for us. Please see our Facebook page for details of Chris Bailey’s impromptu fundraiser, which was very well supported by local press.
Stone Rotary very kindly provided pancake-making kits in February 2021, together with pizza-making kits from Morrisons. Local families were very happy in February half-term.
We took a very well-deserved break at Easter for a couple of weeks which was much needed by staff and volunteers alike.
Demand for food parcels remained very steady until June 2021, when we started to see a decline in demand due to people being able to return to work or being able to better financially support themselves which was great to see.
Another highlight of the year came in June 2021 when we won the Support Staffordshire Volunteer Team of the Year award, so very, very well deserved by a fabulous team of people. It became apparent, very quickly that we would not have been able to achieve what we did without the tireless support of volunteers packing parcels, drivers delivering them as well as countless other tasks. I am also delighted to announce that two of our volunteers won the Lifetime Achievement Award and our Treasurer was commended in the Trustee of the Year category in the same awards ceremony.
We have started slowly reopening our services since lockdown was lifted. Of course, we are being as cautious and careful as possible in order to protect our staff, volunteers and clients as much as we can. Our Job Club re-started in June and has seen a small but steady demand for support with getting jobs, preparing CVs etc. Daily drop-in sessions resumed in July; these have been quiet, which is not unexpected. We are hoping to start Hub Grub and IT support sessions in September with craft sessions following at a later date.
Issues
We gave out 2,010 food parcels in the year, compared with 1,304 in 2019/20. In the most recent pre-COVID year, we gave out 297 parcels – the pandemic greatly increased need for Food Bank support.
Due to the increased need for space to be able to run the Food Bank effectively throughout the pandemic, we had to rent another, much larger room from Stone Town Council, and we are grateful for the advantageous rate agreed. We were lucky in that, at the start of the pandemic, we were very fortunate to be able to secure emergency COVID funding from a variety of sources which has enabled us to continue our work with very limited fundraising activities being able to happen. We have also been very fortunate in the support we have received from Staffordshire County & Borough Councils to enable us to support people defined as Clinically Extremely Vulnerable, both in terms of financial support as well as substantial supplies of food to go out in parcels.
We have had either no or very limited contact with a lot of clients we saw before the pandemic struck, mainly because – as we operate primarily as a drop-in service – we don’t know where they live. We are very much hoping that we will be contacted by those people we haven’t seen in the coming months. We were very saddened to know that at least one of our regular clients lost their life to COVID, which was a huge blow as we had been supporting them for a number of years.
Financial review
In expectation of a difficult year for income, we had budgeted a small surplus for the year 2020/21. While fundraising continued to struggle, donations from individuals and organisations held up well. We were also contracted by Stafford Borough Council to provide support to Clinically Extremely Vulnerable individuals in the Stone area. We recorded above-budget costs on premises rental (additional space to support the expanded Food Bank), Food Bank supplies and replacing IT equipment, all covered by grant/contract income. At the year end we recorded a strong surplus, with reserves of 25.5 months of expenditure.
A further £45,000 has been invested in funds managed by CCLA Investment Management Ltd, one of the UK's largest charity fund managers, for a total of £55,000. At the year end these investments were valued at £56,592. Additionally, an interest-bearing savings account has been opened with Aldermore Bank plc to hold uninvested balances in excess of 3 months’ budgeted expenditure plus restricted funds.
Page 5
Stone Community Hub Ltd
Trustees Report (incorporating the Directors. Report
Pollcy on reseTh8S
The Truse$ recognise the need kn nage of Ihe (ganisakn) aThJ e¢t the ol wenlial
crediknts and empkFyees by".
. Ensuring unr8slnct&1 reserwes to the 8qUNantoI a minimum of 3 months. bed 6xp8Thtiture u8 T85trict•Y funds and..
. Puibng In place corre[¥& 8Clion slthld the Ve1 trf tserve5 fa• beltyw this ltrvd and".
. TriggerirvJ an 0erty Cb)Su of x9)isab and the terTrMnakn) and setllem1 of CLknCts Shtyj LmrestrKted firsanci
rarVeS fall below 1 month's btyied expÈnditiJr•.
Unrestricted free r888N8s althe yaar entt lexck1irvJ fixa1 &888tslw8 £7520712020.. £53.6691.
Prirtip•llundinqsourc•s
Membership." Regular incYe&%LI by 1Vh in Ihe yw. We Ihank rwrter5 for tthr slewjy 5UI)kX)rt in pa5l year.
Expanding
Stone Community Hub Ltd
Independent Examiner's Report to the trustees of Stone Community Hub Ltd
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2021 which are set out on pages 8 to 22.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Stone Community Hub Ltd (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Stone Community Hub Ltd are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Stone Community Hub Ltd as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Daryl Denson ACMA
VAST The Dudson Centre Hope Street Stoke-on-Trent ST1 5DD
17/03/2022 Date:.............................
Page 7
Stone Community Hub Ltd
Statement of Financial Activities for the Year Ended 31 July 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Investment income 5 Total income Expenditure on: Charitable activities 7 Total expenditure Gains/losses on investment assets Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 38,736 15,452 481 54,669 (35,364) (35,364) 946 20,251 20,251 55,968 76,219 |
Restricted funds £ 3,180 - - 3,180 (3,526) (3,526) - (346) (346) 1,991 1,645 |
Total 2021 £ 41,916 15,452 481 |
|---|---|---|---|
| 57,849 | |||
| (38,890) | |||
| (38,890) 946 |
|||
| 19,905 | |||
| 19,905 57,959 |
|||
| 77,864 |
The notes on pages 11 to 22 form an integral part of these financial statements. Page 8
Stone Community Hub Ltd
Statement of Financial Activities for the Year Ended 31 July 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Gains/losses on investment assets Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 56,927 3,744 60,671 (430) (31,787) (32,217) 646 29,100 29,100 26,868 55,968 |
Restricted funds £ 3,270 - 3,270 - (3,458) (3,458) - (188) (188) 2,179 1,991 |
Total 2020 £ 60,197 3,744 |
|---|---|---|---|
| 63,941 | |||
| (430) (35,245) |
|||
| (35,675) 646 |
|||
| 28,912 | |||
| 28,912 29,047 |
|||
| 57,959 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 11 to 22 form an integral part of these financial statements. Page 9
Stone Communlty Hub Ltd (Registration number: 063303491 Balance Sheet as at 31 July 2021 2021 2020 FIx8d a88et• Tangible assets Inve$tTwIts 13 14 1.012 56,592 2.299 10,646 57,604 12,945 Detst5 Cash at bank and in h8nd 75 16 3.203 17,773 2,936 46,000 20,978 48,936 Cr•dth%: Amounts tslling due ¥Athin Net cuff¢nt am•¢• 17 716 3.922 20.260 45.014 Net as5fyts 77.864 57.959 Funds ofth¢ Gh•rrty: Restrlctsd Income lurtds Rfrskncd funds 18 1,645 1,991 Unr•strtct•d ineomtrfunds Unre5knct8d fijnds 76,219 55,968 Total frjnds 18 77,864 57,959 For the finanoal year efmling 31 Juty 2031 Ihe chwity enlthd b) Ir(¥n a&Jtt under s6ckn 477 of the Ccffipari8s Acl 2(X)6 reL3ling 10 Sm1 c(Mryrwes. Direct5. responsibilit$". Tha members hav• not required Ihe chorty to ckntan an aLwJit ol ts 8cccwxts for thts yaar Ml question accord8nce S8tbon 476". and The dirxtors ad(nowWè Ihwr rv$ponwrfles tr ccrnDg rth the requ¥ewts of the Trhith respxt to accounting rttord5 and the kveparats.tn of 8c(xxJnts. companies regime. boabY.. an Shephard Truslee The pw 11 10 22 fomi an irrtegral pwl finwKial 5tatvnMts. Page 10
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
1 Charity status
The charity is a charity limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Stone Community Hub Ltd 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 notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 11
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
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.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
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:
Asset class Depreciation method and rate Furniture & fittings 25% reducing balance Computer equipment 25% reducing balance
Page 12
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income 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.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3 Income from donations and legacies
| Donations and legacies; Donations from companies, trusts and similar proceeds Donations from individuals Gift aid reclaimed Grants, including capital grants; Government grants Grants from other charities |
Unrestricted funds General £ 8,298 20,055 4,302 3,377 2,704 38,736 |
Restricted funds £ 180 500 - 2,500 - 3,180 |
Total 2021 £ 8,478 20,555 4,302 5,877 2,704 |
|---|---|---|---|
| 41,916 |
Page 13
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
| Donations and legacies; Donations from companies, trusts and similar proceeds Donations from individuals Gift aid reclaimed Grants, including capital grants; Government grants Grants from other charities |
Unrestricted funds General £ 34,074 - 3,495 3,927 15,431 56,927 |
Restricted funds £ - 720 - 350 2,200 3,270 |
Total 2020 £ 34,074 720 3,495 4,277 17,631 |
|---|---|---|---|
| 60,197 |
4 Income from other trading activities
| Trading income; Sales of goods and services Local fundraising and street collection income Local fundraising and street collection income 5 Investment income Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments |
Unrestricted funds General £ 13,300 2,152 15,452 Unrestricted funds General £ 3,744 3,744 Unrestricted funds General £ 12 469 481 |
Total 2021 £ 13,300 2,152 |
|---|---|---|
| 15,452 | ||
| Total 2020 £ 3,744 |
||
| 3,744 | ||
| Total 2021 £ 12 469 |
||
| 481 | ||
| Total 2020 £ - |
Page 14
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
6 Expenditure on raising funds
a) Costs of trading activities
Total 2021 £
| Fundraising trading costs; Fundraising |
Unrestricted funds General £ 430 430 |
- |
|---|---|---|
| Total 2020 £ 430 |
||
| 430 |
7 Expenditure on charitable activities
Activities undertaken directly
Activities undertaken directly
| Unrestricted funds General £ 35,364 Unrestricted funds General £ 31,787 |
Restricted funds £ 3,526 Restricted funds £ 3,458 |
Total 2021 £ 38,890 |
|---|---|---|
| Total 2020 £ 35,245 |
Page 15
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
| Salaries Payroll Costs Rent Consumables Telephone & IT Insurance & licences Equipment Travel & meeting expenses Training Miscellaneous Depreciation Independent Examiner's fee Salaries Payroll Costs Rent Consumables Telephone & IT Insurance & licences Equipment Travel & meeting expenses Training Miscellaneous Depreciation Independent Examiner's fee Repairs |
Activity undertaken directly £ 18,516 300 10,793 2,749 635 1,145 2,251 314 160 140 1,287 600 38,890 Activity undertaken directly £ 19,010 270 7,381 3,169 732 945 946 105 45 245 1,765 582 50 35,245 |
2021 £ 18,516 300 10,793 2,749 635 1,145 2,251 314 160 140 1,287 600 |
|---|---|---|
| 38,890 | ||
| 2020 £ 19,010 270 7,381 3,169 732 945 946 105 45 245 1,765 582 50 |
||
| 35,245 |
£34,010 (2020 - £31,787) of the above expenditure was attributable to unrestricted funds and £3,526 (2020 - £3,458) to restricted funds.
Page 16
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
8 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements Independent examiner fees Examination of the financial statements |
Unrestricted funds General £ 600 600 Unrestricted funds General £ 582 582 |
Total 2021 £ 600 |
|---|---|---|
| 600 | ||
| Total 2020 £ 582 |
||
| 582 |
9 Government grants
During the year the following governent grants were received:
Two grants from Staffordshire County Council of £2,500 and £304 (2020: £350 and £1,000)
One grant from Stafford Borough Council of £3,073 (2020:£2,927).
The amount of grants recognised in the financial statements was £5,877 (2020 - £4,277).
There were no unfulfilled conditions or other contingencies in respect of government grants received.
No other forms of government assistance were received by the organisation in the year.
10 Trustees' remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Donations made by the trustees without any conditions attached totalled £722 for the year (2020 - £639).
Page 17
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
11 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Pension costs |
2021 £ 18,315 201 18,516 |
2020 £ 18,902 108 |
|---|---|---|
| 19,010 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
Employees
| 2021 | 2020 | ||
|---|---|---|---|
| No | No | ||
| 2 | 2 |
Contributions to the employee pension schemes for the year totalled £201 (2020 - £108).
Employer pension contributions are split between restricted and unrestricted funds in line with the staff time spent on the restricted project.
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £9,366 (2020 - £9,236).
12 Taxation
The charity is a registered charity and is therefore exempt from taxation.
13 Tangible fixed assets
| Cost At 1 August 2020 At 31 July 2021 Depreciation At 1 August 2020 Charge for the year At 31 July 2021 Net book value At 31 July 2021 At 31 July 2020 |
Furniture & fittings £ 7,059 7,059 4,760 1,287 6,047 1,012 2,299 |
Total £ 7,059 7,059 4,760 1,287 6,047 1,012 2,299 |
|---|---|---|
Page 18
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
14 Fixed asset investments
Other investments
| Other investments | ||||
|---|---|---|---|---|
| Other investments Cost or Valuation At 1 August 2020 Gain on investment Additions At 31 July 2021 Net book value At 31 July 2021 At 31 July 2020 |
2021 £ 56,592 Listed investments £ 10,646 946 45,000 |
2020 £ 10,646 |
||
| Total £ 10,646 946 45,000 56,592 56,592 10,646 |
||||
| 56,592 | ||||
| 56,592 | ||||
| 10,646 |
The market value of the listed investments at 31 July 2021 was £56,592 (2020 - £10,646).
The investments comprise 1625.33 accumulation units and 14055.25 income units in the COIF Charities Fixed Interest Fund, 3651.21 income units in the COIF Charities Ethical Investment Fund and 558.28 units in the COIF Charities Investment Fund with CCLA.
15 Debtors
| Prepayments Accrued income 16 Cash and cash equivalents Cash on hand Cash at bank |
2021 £ 1,932 1,271 3,203 2021 £ 50 17,723 17,773 |
2020 £ 364 2,572 |
|---|---|---|
| 2,936 | ||
| 2020 £ - 46,000 |
||
| 46,000 |
Page 19
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
| 17 Creditors: amounts falling due within one year Other taxation and social security Accruals 18 Funds Balance at 1 August 2020 £ Incoming resources £ Unrestricted General General fund 55,968 54,669 Restricted Rowley Trust Holiday Hunger 1,000 - Staffordshire County Council 350 2,500 SCVYS 195 - Foodbank - 500 Stone Rotary Club 446 180 Total restricted 1,991 3,180 Total funds 57,959 57,849 |
Resources expended £ (35,364) - (2,850) - (450) (226) (3,526) (38,890) |
2021 £ 101 615 716 Other recognised gains/(losses) £ 946 - - - - - - 946 |
2020 £ 71 3,851 |
|---|---|---|---|
| 3,922 | |||
| Balance at 31 July 2021 £ 76,219 1,000 - 195 50 400 |
|||
| 1,645 | |||
| 77,864 |
Page 20
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
| Unrestricted funds General General fund Restricted Rowley Trust Holiday Hunger Rowley Trust COVID-19 Stone Town Council Stafford Borough Council Small Grants Stone Lions Club Staffordshire County Council The Community Foundation for Staffordsire SCVYS Foodbank SARH Cares Stone Rotary Club Total restricted funds Total funds |
Balance at 1 August 2019 £ 26,868 - - 500 456 443 - - 195 89 273 223 2,179 29,047 |
Incoming resources £ 60,671 1,000 200 - - - 350 1,000 - - - 720 3,270 63,941 |
Resources expended £ (32,217) - (200) (500) (456) (443) - (1,000) - (89) (273) (497) (3,458) (35,675) |
Other recognised gains/(losses) £ 646 - - - - - - - - - - - - 646 |
Balance at 31 July 2020 £ 55,968 1,000 - - - - 350 - 195 - - 446 |
|---|---|---|---|---|---|
| 1,991 | |||||
| 57,959 |
The specific purposes for which the funds are to be applied are as follows:
Rowley Trust Holiday Hunger - funding for project to feed poor families during school holidays
Rowley Trust COVID-19 - to keep the foodbank stocked
Staffordshire County Council - to fund the foodbank
Stone Town Council - IT equipment
Stafford Borough Council Small Grants - Crafting for Calm
Stone Lions Club - for Bosom Buddies
The Community Foundation for Staffordshire - COVID-19 emergency funding
SCVYS (Staffordshire Council for Voluntary Youth Services) - young people
Foodbank - restricted donations from multiple individual and corporate donors
SARH Cares - Parent and Child craft and food bank
Stone Rotary Club - towards cost of weekly 'Hub Grub' hot meal.
Page 21
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2021
19 Analysis of net assets between funds
| 19 Analysis of net assets between funds | |||
|---|---|---|---|
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds General £ 1,012 56,592 19,331 (716) 76,219 Unrestricted funds General £ 2,299 10,646 46,945 (3,922) 55,968 |
Restricted funds £ - - 1,645 - 1,645 Restricted funds £ - - 1,991 - 1,991 |
Total funds at 31 July 2021 £ 1,012 56,592 20,976 (716) |
| 77,864 | |||
| Total funds at 31 July 2020 £ 2,299 10,646 48,936 (3,922) |
|||
| 57,959 |
20 Related party transactions
There were no related party transactions in the year.
Page 22