2021-03-31-accounts - New Bushbury Triangle Co-Operative Limited

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REGISTERED COMPANY NUMBER: 03588942 (England and Wales)
REGISTERED CHARITY NUMBER: 1124150

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2021

`for`

New Bushbury Triangle Co-operative Ltd
(A Company Limited by Guarantee)

Crowther Jordan Limited
Chartered Accountants

39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

New Bushbury Triangle Co-operative Ltd

Contents of the Financial Statements
for the Year Ended 31 March 2021

		`Page`
`Report of the Trustees`	`1`	`to`	`3`
`Independent Examiner's Report`		`4`
`Statement of Financial Activities`		`5`
`Balance Sheet`		`6`
`Notes to the Financial Statements`	`7`	`to`	`11`
`Detailed Statement of Financial Activities`		`12`

New Bushbury Triangle Co-operative Ltd

`Report of the Trustees for the Year Ended 31 March 2021`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with
thefinancialstatementsofthecharityfortheyearended31March2021.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

The objectives of the charity are:

- To promote the benefit of the inhabitantsof the New BushburyTriangle in a common effort to advanceeducationand to
provide facilities in the interests of social welfare with the objective of improving the conditions of life.

- To establish,or secure the establishmentof a communitycentreand to maintainand managesuch centrein  furtherance
of the above objective.

- Promote such other charitable purposes as from time to time may be determined.

`Significant activities`

In pursuance of the charities objectives the following activities are undertaken:

- providing a safe and supportive community centre,

organising social and educational activities,
encouragement of all members of the community to participate and develop and sustain a sense of community.
working with young people to encourage inclusion and reverse the process of exclusion,
the provision of facilities to maximise the wealth of the Bushbury estate and facilitate employment opportunities,

- proving assistance to the community in relation to the maintenance, repair and enhancement of the estate,

provision and maintenance of amenities, services and landscaping

`Public benefit`

All trustees are aware of and adhere to, the guidelines of the Charity Commission on Public Benefit.

`ACHIEVEMENT AND PERFORMANCE`

`Charitable activities`

TheCharityorganisesbringingthecommunitytogetherandprovidesspaceforthemtointeractwithotherfamilies who
have common needs.The Charity provides or facilitatesnumerous activitiesand support services throughoutthe year in  the
community centre established by the charity in accordance with its objective. These activities include the following:

Tenant management and support
Housing surgeries
Councillors' surgeries
Mental health club
Credit Union
Sewing classes
Coffee mornings
Public access to computer and photocopying facilities
Organising fund days and coach trips.

In addition,the Charity helps to rehouse the homeless and other families in need, and provides advice in matters  pertaining
to them. Financial  help may be provided to tenants struggling to pay their rent, ie : help with first weeks rent on sign up.

`FINANCIAL REVIEW`

`Principal funding sources`

TheprincipalsupportoffundingisthroughamanagementfeereceivedfromAccordHousingAssociationLtd for
managementoftheirpropertiesinourarea.WolverhamptonCityCouncilprovidethebuildingrentandratesfree and
cover all the repairs.

Page 1

New Bushbury Triangle Co-operative Ltd

`Report of the Trustees for the Year Ended 31 March 2021`

`FINANCIAL REVIEW`

`Going concern`

The trustees are not aware of any reason or uncertaintiesthat would affect the abilityof the charityto continueas a going
concern.

`FUTURE PLANS`

The charityexpectsto continuethe currentrangeof activitiesand,subjectto its core objectivesbeingmet and budgetary
constraints, to adapt these services as additional needs are identified.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.

`Recruitment and appointment of new trustees`

UnlessotherwisedeterminedbythecompanyinGeneralMeeting,theboardshallcomprisea minimumof sevenand not
more than eighteen members.

On the Board the interest groups shall be represented by twelve elected representatives elected by Tenant members.

BoardMembersareelectedattheAnnualGeneralMeeting.ThenominationofcandidatesforelectiontotheBoard and
the methodof theirelectionshallbe in accordancewith the ruleswhichthe Boardmay determineafterconsultation with
members.

Board members shall hold office until the third Annual General meeting following their election.

TheBoardmayacttofillanycasualvacancyduringtheinterveningperiodbetweenannualelections.Co-opted Board
members shall retire at the next Annual General Meeting following their co-option.

`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`

03588942 (England and Wales)

`Registered Charity number`

`Registered office`

74 Stanley Road
Bushbury
Wolverhampton
West Midlands
WV10 9EL

`Trustees`

D Bloomfield Security Officer
R J Bone Disabled
Ms M J Gray Project Worker
Ms K Lee Centre Manager
G J Wellsbury Painter Decorator
Mrs A N Wellsbury Housewife

`Company Secretary`

Ms K Lee

Page 2

New Bushbury Triangle Co-operative Ltd

`Report of the Trustees for the Year Ended 31 March 2021`

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Independent Examiner`

Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

Approved by order of the board of trustees on 23 December 2021 and signed on its behalf by:

Ms K Lee - Trustee

Page 3

`Independent Examiner's Report to the Trustees of New Bushbury Triangle Co-operative Ltd`

`Independent examiner's report to the trustees of New Bushbury Triangle Co-operative Ltd ('the Company')`

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

`Responsibilities and basis of report`

Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accountsof the Company are not required to be audited under Part 16 of the 2006 Act  and
areeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsascarried out
under section145 of the CharitiesAct 2011 ('the 2011 Act').In carryingout my examinationI have followedthe Directions
given by the Charity Commission under section 145(5) (b) of the 2011 Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

3. 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

4. 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 concernsandhave come acrossno othermattersin connectionwith the examinationto whichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Stephen Gray
FCA
Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

23 December 2021

Page 4

New Bushbury Triangle Co-operative Ltd

`Statement of Financial Activities for the Year Ended 31 March 2021`

		`31.3.21`	`31.3.20`
		`Unrestricted`	`Total`
		`fund`	`funds`
	`Notes`	`£`	`£`
`INCOME AND ENDOWMENTS FROM`
`Charitable activities`
`Property management and services`		`46,558`	`44,757`
`Other trading activities`	`2`	`-`	`5,187`
`Investment income`	`3`	`3,084`	`4,157`
`Total`		`49,642`	`54,101`
`EXPENDITURE ON`
`Raising funds`		`-`	`4,668`
`Charitable activities`
`Property management and services`		`47,669`	`(2,526)`
`Other`		`-`	`52,138`
`Total`		`47,669`	`54,280`
`NET INCOME/(EXPENDITURE)`		`1,973`	`(179)`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`		`9,761`	`9,940`
`TOTAL FUNDS CARRIED FORWARD`		`11,734`	`9,761`

The notes form part of these financial statements

Page 5

New Bushbury Triangle Co-operative Ltd

`Balance Sheet 31 March 2021`

		`31.3.21`	`31.3.20`
		`Unrestricted`	`Total`
		`fund`	`funds`
	`Notes`	`£`	`£`
`FIXED ASSETS`
`Tangible assets`	`7`	`219`	`219`
`CURRENT ASSETS`
`Cash at bank and in hand`		`15,047`	`13,170`
`CREDITORS`
`Amounts falling due within one year`	`8`	`(3,532)`	`(3,628)`
`NET CURRENT ASSETS`		`11,515`	`9,542`
`TOTAL ASSETS LESS CURRENT LIABILITIES`		`11,734`	`9,761`
`NET ASSETS`		`11,734`	`9,761`
`FUNDS`	`9`
`Unrestricted funds:`
`General fund`		`11,734`	`9,761`
`TOTAL FUNDS`		`11,734`	`9,761`

ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year
ended 31 March 2021.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

The financialstatementswere approvedby the Board of Trustees and authorisedfor issue on 23 December 2021 and were
signed on its behalf by:

M J Gray - Trustee

The notes form part of these financial statements

Page 6

New Bushbury Triangle Co-operative Ltd

`Notes to the Financial Statements for the Year Ended 31 March 2021`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicableto charitiespreparingtheiraccountsin accordancewith the Financial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies
Act 2006. The financial statements have been prepared under the historical cost convention.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncetheCharitycharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesare recognised as expenditureas soon as there is a legal or constructiveobligationcommittingthe  charity
tothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementand the
amount of the obligationcan be measured reliably.Expenditureis accountedfor on an accrualsbasis and has been
classifiedunder headingsthataggregateall cost relatedto the category.Where costs cannotbe directly attributed
to particular headings they have been allocated to activities on a basis consistent with the use of resources.

`Tangible fixed assets`

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

`Taxation`

The charity is exempt from corporation tax on its charitable activities.

`Fund accounting`

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restrictedfundscanonlybe usedforparticularrestrictedpurposeswithintheobjectsof thecharity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

`2. OTHER TRADING ACTIVITIES`

`2.`	`OTHER TRADING ACTIVITIES`
		`31.3.21`	`31.3.20`
		`£`	`£`
	`CRB income`	`-`	`5,187`
`3.`	`INVESTMENT INCOME`
		`31.3.21`	`31.3.20`
		`£`	`£`
	`Rents received`	`3,084`	`4,157`

continued...

Page 7

New Bushbury Triangle Co-operative Ltd

`Notes to the Financial Statements - continued for the Year Ended 31 March 2021`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

There were no trustees'remunerationor otherbenefitsfor the yearended31 March2021nor for the year ended
31 March 2020.

`Trustees' expenses`

There were no  trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

`5. STAFF COSTS`

The average monthly number of employees during the year was as follows:

`6.`

	`31.3.21`	`31.3.20`
`Support staff`	`2`	`2`
`No employees received emoluments in excess of £60,000.`
`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`
		`Unrestricted`
		`fund`
		`£`
`INCOME AND ENDOWMENTS FROM`
`Charitable activities`
`Property management and services`		`44,757`
`Other trading activities`		`5,187`
`Investment income`		`4,157`
`Total`		`54,101`
`EXPENDITURE ON`
`Raising funds`		`4,668`
`Charitable activities`
`Property management and services`		`(2,526)`
`Other`		`52,138`
`Total`		`54,280`
`NET INCOME/(EXPENDITURE)`		`(179)`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`		`9,940`
`TOTAL FUNDS CARRIED FORWARD`		`9,761`

continued...

Page 8

New Bushbury Triangle Co-operative Ltd

`Notes to the Financial Statements - continued for the Year Ended 31 March 2021`

`7. TANGIBLE FIXED ASSETS`

`7.`	`TANGIBLE FIXED ASSETS`
		`Improvements`
		`to`	`Plant and`
		`property`	`machinery`	`Totals`
		`£`	`£`	`£`
	`COST`
	`At 1 April 2020 and 31 March 2021`	`17,970`	`64,743`	`82,713`
	`DEPRECIATION`
	`At 1 April 2020 and 31 March 2021`	`17,865`	`64,629`	`82,494`
	`NET BOOK VALUE`
	`At 31 March 2021`	`105`	`114`	`219`
	`At 31 March 2020`	`105`	`114`	`219`
`8.`	`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
			`31.3.21`	`31.3.20`
			`£`	`£`
	`Social security and other taxes`		`322`	`317`
	`Accruals and deferred income`		`3,210`	`3,311`
			`3,532`	`3,628`
`9.`	`MOVEMENT IN FUNDS`
			`Net`
			`movement`	`At`
		`At 1.4.20`	`in funds`	`31.3.21`
		`£`	`£`	`£`
	`Unrestricted funds`
	`General fund`	`9,761`	`1,973`	`11,734`
	`TOTAL FUNDS`	`9,761`	`1,973`	`11,734`
	`Net movement in funds, included in the above are as follows:`
		`Incoming`	`Resources`	`Movement`
		`resources`	`expended`	`in funds`
		`£`	`£`	`£`
	`Unrestricted funds`
	`General fund`	`49,642`	`(47,669)`	`1,973`
	`TOTAL FUNDS`	`49,642`	`(47,669)`	`1,973`

continued...

Page 9

New Bushbury Triangle Co-operative Ltd

`Notes to the Financial Statements - continued for the Year Ended 31 March 2021`

`9. MOVEMENT IN FUNDS - continued`

`Comparatives for movement in funds`

			`Net`
			`movement`	`At`
	`At`	`1.4.19`	`in funds`	`31.3.20`
		`£`	`£`	`£`
`Unrestricted funds`
`General fund`		`9,940`	`(179)`	`9,761`
`TOTAL FUNDS`		`9,940`	`(179)`	`9,761`
`Comparative net movement in funds, included in the above are as follows:`
	`Incoming`		`Resources`	`Movement`
	`resources`		`expended`	`in funds`
		`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`54,101`		`(54,280)`	`(179)`
`TOTAL FUNDS`	`54,101`		`(54,280)`	`(179)`

A current year 12 months and prior year 12 months combined position is as follows:

		`Net`
		`movement`	`At`
	`At 1.4.19`	`in funds`	`31.3.21`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`9,940`	`1,794`	`11,734`
`TOTAL FUNDS`	`9,940`	`1,794`	`11,734`

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as
follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`103,743`	`(101,949)`	`1,794`
`TOTAL FUNDS`	`103,743`	`(101,949)`	`1,794`

continued...

Page 10

New Bushbury Triangle Co-operative Ltd

`Notes to the Financial Statements - continued for the Year Ended 31 March 2021`

`10. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 March 2021.

Page 11

New Bushbury Triangle Co-operative Ltd

`Detailed Statement of Financial Activities for the Year Ended 31 March 2021`

`Detailed Statement of Financial Activities` `for the Year Ended 31 March 2021`
	`31.3.21`	`31.3.20`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Other trading activities`
`CRB income`	`-`	`5,187`
`Investment income`
`Rents received`	`3,084`	`4,157`
`Charitable activities`
`Grants`	`46,558`	`44,757`
`Total incoming resources`	`49,642`	`54,101`
`EXPENDITURE`
`Other trading activities`
`CRB Costs`	`-`	`4,668`
`Charitable activities`
`Wages`	`33,989`	`34,352`
`Support costs`
`Management`
`Rates and water`	`1,424`	`1,126`
`Insurance`	`1,546`	`1,548`
`Light and heat`	`4,422`	`4,587`
`Telephone`	`720`	`839`
`Postage and stationery`	`1,607`	`1,480`
`Sundries`	`811`	`222`
	`10,530`	`9,802`
`Finance`
`Bank charges`	`482`	`446`
`Information technology`
`Repairs and renewals`	`1,086`	`1,011`
`Governance costs`
`Accountancy fees`	`1,222`	`960`
`Travel expenses`	`360`	`1,241`
`Trips and meals`	`-`	`1,800`
	`1,582`	`4,001`
`Total resources expended`	`47,669`	`54,280`
`Net income/(expenditure)`	`1,973`	`(179)`

This page does not form part of the statutory financial statements

Page 12