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 2022
Daryl Denson ACMA VAST The Dudson Centre Hope Street Stoke-on-Trent ST1 SOD
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Stone Community Hub Ltd
Independent Examiner's Report to the trustees of Stone Community Hub Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2022.
Responsibilities and basis of report
As the charity’s trustees of the Company (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 the Company 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
Date:......27/04/2023.......................
Page 6
Stone Community Hub Ltd
Statement of Financial Activities for the Year Ended 31 July 2022 (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: Raising funds 6 Charitable activities 7 Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forard 18 |
Unrestricted funds £ 26,515 1,304 1,140 28,959 (50) (35,363) (35,413) (6,454) (6,454) 76,219 69,765 |
Restricted funds £ 4,620 4,620 (631) (631) 3,989 3,989 1,645 5,634 |
Total 2022 £ 31,135 1,304 1,140 |
|---|---|---|---|
| 33,579 | |||
| (50) (35,994) |
|||
| (36,044) | |||
| (2,465) | |||
| (2,465) 77,864 |
|||
| 75,399 |
The notes on pages 10 to 22 form an integral part of these financial statements. Page 7
Stone Community Hub Ltd
Statement of Financial Activities for the Year Ended 31 July 2022 (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 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 10 to 22 form an integral part of these financial statements. Page 8
Stone Community Hub Ltd
(Registration number: 06330349) Balance Sheet as at 31 July 2022
| Note Fixed assets Tangible assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand 16 Creditors: Amounts falling due within one year 17 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds 18 Unrestricted income funds Unrestricted funds Total funds 18 |
2022 £ 507 56,592 57,099 4,798 14,233 19,031 (731) 18,300 75,399 5,634 69,765 75,399 |
2021 £ 1,012 56,592 |
|
|---|---|---|---|
| 57,604 | |||
| 3,203 17,773 |
|||
| 20,976 (716) |
|||
| 20,260 | |||
| 77,864 1,645 76,219 77,864 |
|||
For the financial year ending 31 July 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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The notes on pages 9 to 21 form an integral part of these financial statements. Page 8
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
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.
The principal place of business is: Frank Jordan Centre Lichfield Street Stone Staffordshire ST15 8NA
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.
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.
Page 10
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
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.
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 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
Furniture & fittings Computer equipment
Depreciation method and rate 25% reducing balance 25% reducing balance
Page 11
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
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.
Page 12
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
3 Income from donations and legacies
| 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; Grants from other charities 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 £ 519 20,391 5,405 200 26,515 Unrestricted funds General £ 8,298 20,055 4,302 3,377 2,704 38,736 |
Restricted funds £ 2,120 2,500 4,620 Restricted funds £ 180 500 2,500 3,180 |
Total 2022 £ 519 22,511 5,405 2,700 31,135 Total 2021 £ 8,478 20,555 4,302 5,877 2,704 |
| 41,916 |
4 Income from other trading activities
| 4 Income from other trading activities |
||
|---|---|---|
| Local fundraising and street collection income Trading income; Sales of goods and services Local fundraising and street collection income |
Unrestricted funds General £ 1,304 1,304 Unrestricted funds General £ 13,300 2,152 15,452 |
Total 2022 £ 1,304 |
| 1,304 Total 2021 £ 13,300 2,152 |
||
| 15,452 |
Page 13
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
5 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments |
Unrestricted funds General £ 25 1,115 1,140 Unrestricted funds General £ 12 469 481 |
Total 2022 £ 25 1,115 |
|---|---|---|
| 1,140 Total 2021 £ 12 469 |
||
| 481 |
Page 14
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
6 Expenditure on raising funds
a) Costs of trading activities
----- Start of picture text -----
Unrestricted
funds Total
General 2022
£ £
Fundraising trading costs;
Fundraising 50 50
50 50
Total
2021
£
----- End of picture text -----
7 Expenditure on charitable activities
| Activities undertaken directly Activities undertaken directly |
Unrestricted funds General £ 35,363 Unrestricted funds General £ 35,364 Restricted Total funds 2022 £ £ 631 35,994 Restricted Total funds 2021 £ £ 3,526 38,890 |
|---|---|
Page 15
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
| Salaries Payroll Costs Rent Consumables Telephone & IT Insurance & licences Equipment Training Miscellaneous Depreciation Independent Examiner's fee Accountancy fees Salaries Payroll Costs Rent Consumables Telephone & IT Insurance & licences Equipment Travel & meeting expenses Training Miscellaneous Depreciation Independent Examiner's fee |
Activity undertaken directly £ 21,765 301 8,571 1,014 573 1,408 762 180 189 505 630 96 35,994 Activity undertaken directly £ 18,516 300 10,793 2,749 635 1,145 2,251 314 160 140 1,287 600 38,890 |
2022 £ 21,765 301 8,571 1,014 573 1,408 762 180 189 505 630 96 |
|---|---|---|
| 35,994 2021 £ 18,516 300 10,793 2,749 635 1,145 2,251 314 160 140 1,287 600 |
||
| 38,890 |
8 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements Other fees paid to examiners |
Unrestricted funds General £ 630 96 726 Total 2022 £ 630 96 726 |
|---|---|
Page 16
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
| Independent examiner fees Examination of the financial statements |
Unrestricted funds General £ 600 600 |
Total 2021 £ 600 |
|---|---|---|
| 600 |
9 Government grants
During the year the following governent grants were received:
Two grants from Staffordshire County Council of were received in the prior period (2021) for £2,500 and £304
One grant from Stafford Borough Council was received in the prior period (2021) of £3,073
The amount of grants recognised in the financial statements was£- (2021 -£5,877).
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 £Nil for the year (2021 -£722).
Page 17
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
11 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Pension costs |
2022 £ 21,121 644 21,765 |
2021 £ 18,315 201 |
|---|---|---|
| 18,516 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
year was as follows: |
||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| No | No | |||
| Employees | 2 | 2 |
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.
12 Taxation
The charity is a registered charity and is therefore exempt from taxation.
13 Tangible fixed assets
| 13 Tangible fixed assets | ||
|---|---|---|
| Furniture & fittings Cost At 1 August 2021 7,059 At 31 July 2022 7,059 Depreciation Al 1 August 2021 6,047 Charge for the year 505 At 31 July 2022 6,552 Net book value At 31 July 2022 507 Al 31 July 2021 1,012 |
Total £ 7,059 7,059 |
|
| 6,047 505 6,552 507 1,012 |
Page 18
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
14 Fixed asset investments
Other investments
| Other investments Cost or Valuation Additions At 31 July 2022 Net book value At 31 July 2022 |
2022 £ 56,592 Listed investments £ 56,592 |
2021 £ 56,592 Total £ 56,592 56,592 56,592 |
|---|---|---|
| 56,592 | ||
| 56,592 |
The market value of the listed investments at 31 July 2022 was £50,510 (2021 - £56,592).
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
| 15 Debtors | ||
|---|---|---|
| Prepayments Accrued income 16 Cash and cash equivalents Cash on hand Cash at bank |
2022 £ 1,636 3,162 4,798 2022 £ 103 14,130 14,233 |
2021 £ 1,932 1,271 |
| 3,203 2021 £ 50 17,723 |
||
| 17,773 |
Page 19
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
| 17 Creditors: amounts falling due within one year Other taxation and social security Accruals 18 Funds Balance at 1 August 2021 £ Unrestricted funds General General fund 76,219 Restricted funds Rowley Trust Holiday Hunger 1,000 SCVS 195 Foodbank 50 Stone Rotary Club 400 Hub Grub Arnold Clark Total restricted funds 1,645 Total funds 77,864 |
Incoming resources £ 28,959 1,450 670 2,500 4,620 33,579 |
2022 £ 101 630 731 Resources expended £ (35,413) (206) (425) (631) (36,044) |
2021 £ 101 615 |
|---|---|---|---|
| 716 Balance at 31 July 2022 £ 69,765 1,000 195 1,294 400 245 2,500 |
|||
| 5,634 | |||
| 75,399 |
Page 20
Stone Community Hub Ltd
Notes to the Financial Statements for the Year Ended 31 July 2022
| Unrestricted funds General General fund Restricted Rowley Trust Holiday Hunger Stafordshire County Council SCVYS Foodbank Stone Rotary Club Total restricted funds Total funds |
Balance at 1 August 2020 £ 55,968 1,000 350 195 446 1,991 57,959 |
Other Incoming Resources recognised resources expended gains/(losses) £ £ £ 54,669 (35,364) 946 2,500 (2,850) 500 (450) 180 (226) 3,180 (3,526) 57,849 (38,890) 946 |
Balance at 31 July 2021 £ 76,219 1,000 195 50 400 |
|---|---|---|---|
| 1,645 | |||
| 77,864 |
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 SeNices) - 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 2022
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 Other £ £ 507 56,592 13,397 5,634 (731) 69,765 5,634 Unrestricted funds Restricted General funds £ £ 1,012 56,592 19,331 1,645 (716) 76,219 1,645 Total funds at 31 July 2022 £ 507 56,592 19,031 (731) 75,399 Total funds at 31 July 2021 £ 1,012 56,592 20,976 (716) 77,864 |
|---|---|
Page 22