OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-11-30-accounts

Charity registration number 1124460

Company registration number 06015231 (England and Wales)

SALFORD LOAVES AND FISHES LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

SALFORD LOAVES AND FISHES LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr P M Ashton
Mr B Benhafsi
Mrs E M Cursaro
Mrs J Leader
Mrs G Palmer
Mr K Palmer
Sister A Stewart
Mrs T Tierney
Councillor J Warmisham
Dr E Whelan
Mrs J Whelan
Charity number 1124460
Company number 06015231
Auditor I Clarke
20 Grange Drive
Eccles
Manchester
Solicitors Addleshaw Goddard LLP
One St Peter's Square
Manchester

SALFORD LOAVES AND FISHES LIMITED

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent auditor's report 4 - 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 17

SALFORD LOAVES AND FISHES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2021

The trustees present their annual report and financial statements for the year ended 30 November 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's [governing document], the Companies Act 2006 and "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).

Objectives and activities

The charity's objects ad principal

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.

The charity's objects are: to relieve poverty and sickness and to preserve the good health of homeless and disadvantaged people in Salford, in particular, but not exclusively. This is done through the provision of a Drop-in Centre and other activities, including:

Achievements and performance

Financial review

It is the policy of the charitable company that free reserves should be maintained at a level equivalent to approximately 12 month’s expenditure. The trustees consider that free reserves of this level should provide sufficient funding to respond to the organisation's ongoing provision of care and support, particularly given the support of The Edward Holt Charitable Trust in the provision of the premises in which we operate the Drop-in Centre.

Structure, governance and management

The charitable company is a company limited by guarantee. It was incorporated on 30 November 2006 and became a registered charity on 10 June 2008. It is established under a Memorandum of Association which established our objects and powers. In the event of the company being wound up, members are required to contribute an amount not exceeding £10.

SALFORD LOAVES AND FISHES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr P M Ashton Mr B Benhafsi Mrs E M Cursaro Mrs J Leader Mrs G Palmer Mr K Palmer Sister A Stewart Mrs T Tierney Councillor J Warmisham Dr E Whelan Mrs J Whelan

None of the trustees has a beneficial interest in the company. As directors of the company the also charity trustees under charity law. Directors are appointed on personal recommendation, taking into consideration the skills and experience they will add on different aspects of the organisation.

Auditor

In accordance with the company's articles, a resolution proposing that I Clarke be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

.............................. .............................. Mr P M Ashton Mr B Benhafsi Trustee Trustee Date: .............................................

SALFORD LOAVES AND FISHES LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 NOVEMBER 2021

The trustees, who are also the directors of Salford Loaves and Fishes Limited for the purpose 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 which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SALFORD LOAVES AND FISHES LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF SALFORD LOAVES AND FISHES LIMITED

Opinion

I have audited the financial statements of Salford Loaves and Fishes Limited (the ‘charitable company’) for the year ended 30 November 2021 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including 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 my opinion, the financial statements:

Basis for opinion

I conducted my audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. My responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of my report. I am independent of the charitable company in accordance with the ethical requirements that are relevant to my audit of the financial statements in the UK, including the FRC’s Ethical Standard, and I have fulfilled my other ethical responsibilities in accordance with these requirements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.

Conclusions relating to going concern

In auditing the financial statements, I 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 I have performed, I 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.

My responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and my auditor's report thereon. The trustees are responsible for the other information contained within the annual report. My opinion on the financial statements does not cover the other information and I do not express any form of assurance conclusion thereon. My responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or my knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If I identify such material inconsistencies or apparent material misstatements, I am required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work I have performed, I conclude that there is a material misstatement of this other information, I am required to report that fact.

I have nothing to report in this regard.

Matters on which we are required to report by exception

I have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require me to report to you if, in my opinion:

SALFORD LOAVES AND FISHES LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SALFORD LOAVES AND FISHES LIMITED

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charitable company for the purpose 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.

Auditor's responsibilities for the audit of the financial statements

I have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

My 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 auditor's 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.

A further description of my responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity'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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

I Clarke .........................
Chartered Accountant &
Statutory Auditor 20 Grange Drive
Eccles
Manchester

I Clarke is eligible for appointment as auditor of the charitable company by virtue of his eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

SALFORD LOAVES AND FISHES LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Total
Unrestricted
As restated
restricted
As restated
total
funds
funds
2021
2020
2020
2020
£
£
£
£
260,458
137,650
171,459
309,109
22,727
17,062
-
17,062
66
418
-
418
3,642
18,615
-
18,615
286,893
173,745
171,459
345,204
315,308
156,755
88,263
245,018
(28,415)
16,990
83,196
100,186
233,327
99,201
33,940
133,141
204,912
116,191
117,136
233,327		 Total
Unrestricted
As restated
restricted
As restated
total
funds
funds
2021
2020
2020
2020
£
£
£
£
260,458
137,650
171,459
309,109
22,727
17,062
-
17,062
66
418
-
418
3,642
18,615
-
18,615
286,893
173,745
171,459
345,204
315,308
156,755
88,263
245,018
(28,415)
16,990
83,196
100,186
233,327
99,201
33,940
133,141
204,912
116,191
117,136
233,327		 Total
Unrestricted
As restated
restricted
As restated
total
funds
funds
2021
2020
2020
2020
£
£
£
£
260,458
137,650
171,459
309,109
22,727
17,062
-
17,062
66
418
-
418
3,642
18,615
-
18,615
286,893
173,745
171,459
345,204
315,308
156,755
88,263
245,018
(28,415)
16,990
83,196
100,186
233,327
99,201
33,940
133,141
204,912
116,191
117,136
233,327
funds
funds funds funds
2021 2021 2021 2020 2020
£ £ £ £ £
Income and endowments from:
Donations and legacies
3		 124,300 136,158 260,458 137,650 171,459
Charitable activities
4		 22,727 - 22,727 17,062 -
Interest receivable 66 - 66 418 -
Other income
5		 3,642 - 3,642 18,615 -
Total income 150,735 136,158 286,893 173,745 171,459
Expenditure on:
Charitable activities
6		 131,151 184,157 315,308 156,755 88,263
Net income/(expenditure) for
the year/		 19,584
Net movement in funds (47,999) (28,415) 16,990 83,196
Fund balances at 1 December
2020
116,191 117,136 233,327 99,201 33,940
Fund balances at 30
November 2021
135,775 69,137 204,912 116,191 117,136

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The figures for 2020 for donations and legacies and restricted funds brought forward have been restated as per note 16.

SALFORD LOAVES AND FISHES LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2021

Notes 2021 As restated
2020
£ £ £ £
Fixed assets
Tangible assets
10
Current assets		 8,800
203,050
211,850
(18,330)		 11,392
193,520
204,912
69,137
135,775
204,912		 -
237,813
237,813
(5,180)		 694
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets 232,633
Total assets less current liabilities
233,327
Income funds
Restricted funds
13		 117,136
Unrestricted funds 116,191
233,327

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2021, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The 2020 figures for creditors and restricted funds have been restated as per note 16.

The financial statements were approved by the Trustees on .........................

..............................

Mr P M Ashton Trustee

Company registration number 06015231

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

1 Accounting policies

Charity information

Salford Loaves and Fishes Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is .

1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charitable company is a Public Benefit Entity as defined by FRS 102.

The charitable company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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

The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Investment income is recognised on a receivable basis.

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

1 Accounting policies

(Continued)

1.5 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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use and other expenses are allocated based on the portion of floor area that each activity uses.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 20% straight line
Plant and equipment 25% straight line
Fixtures and fittings 20% straight line
Computers 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
£
£		 Total
Unrestricted
Restricted		 Total
Unrestricted
Restricted		 Total
Unrestricted
Restricted		 Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Donations and gifts 124,300 136,158 260,458 137,650 171,459 309,109
Donations and gifts
Salford Community Grant - 18,253 18,253 - - -
Edward Holt Trust - 35,000 35,000 - 41,937 41,937
Forever Manchester - 3,500 3,500 - 11,000 11,000
National Lottery - 9,000 9,000 - 73,661 73,661
Salford Council 25,000 - 25,000 40,123 - 40,123
Salford CVS - 5,480 5,480 - 26,000 26,000
Society of the Holy Child
Jesus
25,500 - 25,500 20,015 - 20,015
The Booth Charities 12,827 16,000 28,827 15,000 - 15,000
500 Campaign 13,545 - 13,545 15,019 - 15,019
Pret Foundation - 17,100 17,100 - - -
Other 47,428 31,825 79,253 47,493 18,861 66,354
124,300 136,158 260,458 137,650 171,459 309,109

4 Charitable activities

2021 2020
£ £
Rough Sleepers project 22,727 17,062

5 Other income

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Other income 3,642 18,615

Other income comprises furlough and gift aid income.

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

6 Charitable activities

Counselling &
supervision
Kitchen & drop
in centre
Administration
2021
2021
2021
£
£
£		 Counselling &
supervision
Kitchen & drop
in centre
Administration
2021
2021
2021
£
£
£		 Counselling &
supervision
Kitchen & drop
in centre
Administration
2021
2021
2021
£
£
£		 Counselling &
supervision
Kitchen & drop
in centre
Administration
2021
2021
2021
£
£
£		 Total
2021
Counselling &
supervision
Kitchen & drop
in centre
Administration		 Total
2021
Counselling &
supervision
Kitchen & drop
in centre
Administration		 Total
2021
Counselling &
supervision
Kitchen & drop
in centre
Administration		 Total
2021
Counselling &
supervision
Kitchen & drop
in centre
Administration		 Total
2020
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £ £ £
Staff costs 72,086 66,358 72,663 211,107 51,579 60,589 68,658 180,826
CAB Service & other
advisory
13,273 - - 13,273 11,440 - - 11,440
Kitchen supplies - 7,237 - 7,237 - 3,985 - 3,985
Client activities 299 - - 299 113 - - 113
Volunteer costs 3,840 - - 3,840 609 - - 609
Training 435 - - 435 191 - - 191
Client welfare direct
support
4,477 - - 4,477 231 - - 231
Share of support costs
(see note 7)
94,410 73,595 72,663 240,668 64,163 64,574 68,658 197,395
10,534 49,607 10,658 70,799 6,326 32,737 7,215 46,278
Share of governance
costs (see note 7)
- - 3,841 3,841 - - 1,345 1,345
Analysis by fund
104,944 123,202 87,162 315,308 70,489 97,311 77,218 245,018
Unrestricted funds 42,061 65,315 23,775 131,151 45,313 67,737 43,705 156,755
Restricted funds 62,883 57,887 63,387 184,157 25,176 29,574 33,513 88,263
104,944 123,202 87,162 315,308 70,489 97,311 77,218 245,018

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

7
Support costs		 7
Support costs		 7
Support costs
Support
costs
Governance
costs
£
£
Premises
23,624
-
General office expenses
38,053
-
Communications
7,889
-
Depreciation
959
-
Bank charges
274
-
Audit & accountancy fees
-
3,841
70,799
3,841
Analysed between
Charitable activities
70,799
3,841		 2021
Support costs
Governance
costs		 2020
Basis of allocation
£
£ £ £ £ £
23,624 - 23,624 12,305 - 12,305
Floor area
38,053 - 38,053 19,699 - 19,699
Floor area
7,889 - 7,889 7,077 - 7,077
Floor area
959 - 959 6,842 - 6,842
Usage
274 - 274 355 - 355
Floor area
- 3,841 3,841 - 1,345 1,345
Governance
47,623
47,623
70,799 3,841 74,640 46,278 1,345
70,799 3,841 74,640 46,278 1,345

Governance costs do not include any payments made to the auditors (2020 - £nil).

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

9 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2021 2020
Number Number
Counselling, advice and information 3 3
Kitchen and drop in centre 4 6
Administration 3 2
Total 10 11
Employment costs 2021 2020
£ £
Wages and salaries 196,091 165,970
Social security costs 11,907 11,921
Other pension costs 3,109 2,935
211,107 180,826

The charity operates a stakeholder pension scheme which all the staff have opted to take up.

The key management personnel of the charity comprise the trustees and chief executive officer.

During the financial year, the total employment benefits of the key management personnel including any employer pension contributions were £45,158 (2020 - £41,221).

There were no employees whose annual remuneration was more than £60,000.

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

10
Tangible fixed assets		 10
Tangible fixed assets		 10
Tangible fixed assets		 10
Tangible fixed assets		 10
Tangible fixed assets
Leasehold
improvements
Plant and
equipment
Fixtures and
fittings
Computers
£
£
£
£
Cost
At 1 December 2020
7,759
12,348
9,094
4,230
Additions
-
4,496
5,874
1,287
At 30 November 2021
7,759
16,844
14,968
5,517
Depreciation and impairment
At 1 December 2020
7,759
12,348
9,094
3,536
Depreciation charged in the year
-
578
31
350
At 30 November 2021
7,759
12,926
9,125
3,886
Carrying amount
At 30 November 2021
-
3,918
5,843
1,631
At 30 November 2020
-
-
-
694
11
Debtors
2021
Amounts falling due within one year:
£
Prepayments and accrued income
8,800
12
Creditors: amounts falling due within one year		 Total
£ £ £ £ £
7,759 12,348 9,094 4,230 33,431
- 4,496 5,874 1,287 11,657
7,759 16,844 14,968 5,517 45,088
7,759 12,348 9,094 3,536 32,737
- 578 31 350 959
7,759 12,926 9,125 3,886 33,696
- 3,918 5,843 1,631 11,392
- - - 694 694
11
Debtors
Amounts falling due within one year:
Prepayments and accrued income		 2021 2020
£ £
8,800 -
12
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2021 2020
£ £
7,921 2,471
6,770 2,163
639 -
3,000 546
18,330 5,180

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

13 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds
Movement in funds
Balance at
1 December
2019
Incoming
resources
Resources
expended
Balance at
1 December
2020
Incoming
resources
Resources
expended
Balance at
30 November
2021
£
£
£
£
£
£
£
Edward Holt
Trust
33,940
41,937
(58,402)
17,475
35,000
(37,892)
14,583
Forever
Manchester
-
11,000
(5,000)
6,000
3,500
(6,000)
3,500
National
Lottery
-
73,661
-
73,661
9,000
(58,107)
24,554
Salford CVS
-
26,000
(6,000)
20,000
5,480
(20,480)
5,000
Groundwork
UK
-
5,000
(5,000)
-
2,000
(2,000)
-
Pret
Foundation
Trust
-
5,000
(5,000)
-
17,100
(9,100)
8,000
The Booths
Charities
-
2,000
(2,000)
-
16,000
(11,000)
5,000
Salford
Community
Grant
-
6,500
(6,500)
-
18,253
(13,253)
5,000
Zochonis
-
361
(361)
-
5,000
(5,000)
-
Manchester
Guardian
-
-
-
-
3,000
(3,000)
-
Sigma
-
-
-
-
6,000
(6,000)
-
Delemere
Dairy
Foundation
-
-
-
-
5,000
(1,500)
3,500
ESF
Community
Grant
-
-
-
-
4,775
(4,775)
-
Other
-
-
-
-
6,050
(6,050)
-
33,940
171,459
(88,263)
117,136
136,158
(184,157)
69,137		 Movement in funds
Movement in funds
Balance at
1 December
2019
Incoming
resources
Resources
expended
Balance at
1 December
2020
Incoming
resources
Resources
expended
Balance at
30 November
2021
£
£
£
£
£
£
£
Edward Holt
Trust
33,940
41,937
(58,402)
17,475
35,000
(37,892)
14,583
Forever
Manchester
-
11,000
(5,000)
6,000
3,500
(6,000)
3,500
National
Lottery
-
73,661
-
73,661
9,000
(58,107)
24,554
Salford CVS
-
26,000
(6,000)
20,000
5,480
(20,480)
5,000
Groundwork
UK
-
5,000
(5,000)
-
2,000
(2,000)
-
Pret
Foundation
Trust
-
5,000
(5,000)
-
17,100
(9,100)
8,000
The Booths
Charities
-
2,000
(2,000)
-
16,000
(11,000)
5,000
Salford
Community
Grant
-
6,500
(6,500)
-
18,253
(13,253)
5,000
Zochonis
-
361
(361)
-
5,000
(5,000)
-
Manchester
Guardian
-
-
-
-
3,000
(3,000)
-
Sigma
-
-
-
-
6,000
(6,000)
-
Delemere
Dairy
Foundation
-
-
-
-
5,000
(1,500)
3,500
ESF
Community
Grant
-
-
-
-
4,775
(4,775)
-
Other
-
-
-
-
6,050
(6,050)
-
33,940
171,459
(88,263)
117,136
136,158
(184,157)
69,137		 Movement in funds
Movement in funds
Balance at
1 December
2019
Incoming
resources
Resources
expended
Balance at
1 December
2020
Incoming
resources
Resources
expended
Balance at
30 November
2021
£
£
£
£
£
£
£
Edward Holt
Trust
33,940
41,937
(58,402)
17,475
35,000
(37,892)
14,583
Forever
Manchester
-
11,000
(5,000)
6,000
3,500
(6,000)
3,500
National
Lottery
-
73,661
-
73,661
9,000
(58,107)
24,554
Salford CVS
-
26,000
(6,000)
20,000
5,480
(20,480)
5,000
Groundwork
UK
-
5,000
(5,000)
-
2,000
(2,000)
-
Pret
Foundation
Trust
-
5,000
(5,000)
-
17,100
(9,100)
8,000
The Booths
Charities
-
2,000
(2,000)
-
16,000
(11,000)
5,000
Salford
Community
Grant
-
6,500
(6,500)
-
18,253
(13,253)
5,000
Zochonis
-
361
(361)
-
5,000
(5,000)
-
Manchester
Guardian
-
-
-
-
3,000
(3,000)
-
Sigma
-
-
-
-
6,000
(6,000)
-
Delemere
Dairy
Foundation
-
-
-
-
5,000
(1,500)
3,500
ESF
Community
Grant
-
-
-
-
4,775
(4,775)
-
Other
-
-
-
-
6,050
(6,050)
-
33,940
171,459
(88,263)
117,136
136,158
(184,157)
69,137		 Movement in funds
Movement in funds
Balance at
1 December
2019
Incoming
resources
Resources
expended
Balance at
1 December
2020
Incoming
resources
Resources
expended
Balance at
30 November
2021
£
£
£
£
£
£
£
Edward Holt
Trust
33,940
41,937
(58,402)
17,475
35,000
(37,892)
14,583
Forever
Manchester
-
11,000
(5,000)
6,000
3,500
(6,000)
3,500
National
Lottery
-
73,661
-
73,661
9,000
(58,107)
24,554
Salford CVS
-
26,000
(6,000)
20,000
5,480
(20,480)
5,000
Groundwork
UK
-
5,000
(5,000)
-
2,000
(2,000)
-
Pret
Foundation
Trust
-
5,000
(5,000)
-
17,100
(9,100)
8,000
The Booths
Charities
-
2,000
(2,000)
-
16,000
(11,000)
5,000
Salford
Community
Grant
-
6,500
(6,500)
-
18,253
(13,253)
5,000
Zochonis
-
361
(361)
-
5,000
(5,000)
-
Manchester
Guardian
-
-
-
-
3,000
(3,000)
-
Sigma
-
-
-
-
6,000
(6,000)
-
Delemere
Dairy
Foundation
-
-
-
-
5,000
(1,500)
3,500
ESF
Community
Grant
-
-
-
-
4,775
(4,775)
-
Other
-
-
-
-
6,050
(6,050)
-
33,940
171,459
(88,263)
117,136
136,158
(184,157)
69,137		 Movement in funds
Movement in funds
Balance at
1 December
2019
Incoming
resources
Resources
expended
Balance at
1 December
2020
Incoming
resources
Resources
expended
Balance at
30 November
2021
£
£
£
£
£
£
£
Edward Holt
Trust
33,940
41,937
(58,402)
17,475
35,000
(37,892)
14,583
Forever
Manchester
-
11,000
(5,000)
6,000
3,500
(6,000)
3,500
National
Lottery
-
73,661
-
73,661
9,000
(58,107)
24,554
Salford CVS
-
26,000
(6,000)
20,000
5,480
(20,480)
5,000
Groundwork
UK
-
5,000
(5,000)
-
2,000
(2,000)
-
Pret
Foundation
Trust
-
5,000
(5,000)
-
17,100
(9,100)
8,000
The Booths
Charities
-
2,000
(2,000)
-
16,000
(11,000)
5,000
Salford
Community
Grant
-
6,500
(6,500)
-
18,253
(13,253)
5,000
Zochonis
-
361
(361)
-
5,000
(5,000)
-
Manchester
Guardian
-
-
-
-
3,000
(3,000)
-
Sigma
-
-
-
-
6,000
(6,000)
-
Delemere
Dairy
Foundation
-
-
-
-
5,000
(1,500)
3,500
ESF
Community
Grant
-
-
-
-
4,775
(4,775)
-
Other
-
-
-
-
6,050
(6,050)
-
33,940
171,459
(88,263)
117,136
136,158
(184,157)
69,137		 Movement in funds
Movement in funds
Balance at
1 December
2019
Incoming
resources
Resources
expended
Balance at
1 December
2020
Incoming
resources
Resources
expended
Balance at
30 November
2021
£
£
£
£
£
£
£
Edward Holt
Trust
33,940
41,937
(58,402)
17,475
35,000
(37,892)
14,583
Forever
Manchester
-
11,000
(5,000)
6,000
3,500
(6,000)
3,500
National
Lottery
-
73,661
-
73,661
9,000
(58,107)
24,554
Salford CVS
-
26,000
(6,000)
20,000
5,480
(20,480)
5,000
Groundwork
UK
-
5,000
(5,000)
-
2,000
(2,000)
-
Pret
Foundation
Trust
-
5,000
(5,000)
-
17,100
(9,100)
8,000
The Booths
Charities
-
2,000
(2,000)
-
16,000
(11,000)
5,000
Salford
Community
Grant
-
6,500
(6,500)
-
18,253
(13,253)
5,000
Zochonis
-
361
(361)
-
5,000
(5,000)
-
Manchester
Guardian
-
-
-
-
3,000
(3,000)
-
Sigma
-
-
-
-
6,000
(6,000)
-
Delemere
Dairy
Foundation
-
-
-
-
5,000
(1,500)
3,500
ESF
Community
Grant
-
-
-
-
4,775
(4,775)
-
Other
-
-
-
-
6,050
(6,050)
-
33,940
171,459
(88,263)
117,136
136,158
(184,157)
69,137		 Movement in funds
Movement in funds
Balance at
1 December
2019
Incoming
resources
Resources
expended
Balance at
1 December
2020
Incoming
resources
Resources
expended
Balance at
30 November
2021
£
£
£
£
£
£
£
Edward Holt
Trust
33,940
41,937
(58,402)
17,475
35,000
(37,892)
14,583
Forever
Manchester
-
11,000
(5,000)
6,000
3,500
(6,000)
3,500
National
Lottery
-
73,661
-
73,661
9,000
(58,107)
24,554
Salford CVS
-
26,000
(6,000)
20,000
5,480
(20,480)
5,000
Groundwork
UK
-
5,000
(5,000)
-
2,000
(2,000)
-
Pret
Foundation
Trust
-
5,000
(5,000)
-
17,100
(9,100)
8,000
The Booths
Charities
-
2,000
(2,000)
-
16,000
(11,000)
5,000
Salford
Community
Grant
-
6,500
(6,500)
-
18,253
(13,253)
5,000
Zochonis
-
361
(361)
-
5,000
(5,000)
-
Manchester
Guardian
-
-
-
-
3,000
(3,000)
-
Sigma
-
-
-
-
6,000
(6,000)
-
Delemere
Dairy
Foundation
-
-
-
-
5,000
(1,500)
3,500
ESF
Community
Grant
-
-
-
-
4,775
(4,775)
-
Other
-
-
-
-
6,050
(6,050)
-
33,940
171,459
(88,263)
117,136
136,158
(184,157)
69,137		 Movement in funds
Movement in funds
Balance at
1 December
2019
Incoming
resources
Resources
expended
Balance at
1 December
2020
Incoming
resources
Resources
expended
Balance at
30 November
2021
£
£
£
£
£
£
£
Edward Holt
Trust
33,940
41,937
(58,402)
17,475
35,000
(37,892)
14,583
Forever
Manchester
-
11,000
(5,000)
6,000
3,500
(6,000)
3,500
National
Lottery
-
73,661
-
73,661
9,000
(58,107)
24,554
Salford CVS
-
26,000
(6,000)
20,000
5,480
(20,480)
5,000
Groundwork
UK
-
5,000
(5,000)
-
2,000
(2,000)
-
Pret
Foundation
Trust
-
5,000
(5,000)
-
17,100
(9,100)
8,000
The Booths
Charities
-
2,000
(2,000)
-
16,000
(11,000)
5,000
Salford
Community
Grant
-
6,500
(6,500)
-
18,253
(13,253)
5,000
Zochonis
-
361
(361)
-
5,000
(5,000)
-
Manchester
Guardian
-
-
-
-
3,000
(3,000)
-
Sigma
-
-
-
-
6,000
(6,000)
-
Delemere
Dairy
Foundation
-
-
-
-
5,000
(1,500)
3,500
ESF
Community
Grant
-
-
-
-
4,775
(4,775)
-
Other
-
-
-
-
6,050
(6,050)
-
33,940
171,459
(88,263)
117,136
136,158
(184,157)
69,137
Incoming
esources
Resources
expended
Balance at
1 December
2020
r		 Incoming
esources
Resources
expended
Balance at
30 November
2021
£ £ £ £ £ £ £
41,937
11,000		 35,000
(37,892)
3,500
(6,000)
9,000
(58,107)
5,480
(20,480)
2,000
(2,000)
17,100
(9,100)
16,000
(11,000)
18,253
(13,253)
5,000
(5,000)
3,000
(3,000)
6,000
(6,000)
5,000
(1,500)
4,775
(4,775)
6,050
(6,050)
136,158
(184,157)
33,940 (58,402) 17,475 (37,892) 14,583
Forever
Manchester
- (5,000) 6,000 (6,000) 3,500
National
Lottery
- 73,661 - 73,661 (58,107) 24,554
Salford CVS - 26,000
5,000
5,000
2,000
6,500
361		 (6,000) 20,000 (20,480) 5,000
Groundwork
UK
- (5,000) - (2,000) -
Pret
Foundation
Trust
- (5,000) - (9,100) 8,000
The Booths
Charities
- (2,000) - (11,000) 5,000
Salford
Community
Grant
- (6,500) - (13,253) 5,000
Zochonis - (361) - (5,000) -
Manchester
Guardian
- - - - (3,000) -
Sigma - - - - (6,000) -
Delemere
Dairy
Foundation
- - - - (1,500) 3,500
ESF
Community
Grant
- - - - (4,775) -
Other - - - - (6,050) -
171,459
33,940 (88,263) 117,136 69,137

SALFORD LOAVES AND FISHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

14 Analysis of net assets between funds

Analysis of net assets between funds Analysis of net assets between funds Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 30 November 2021 are represented by:		 Total
2021 2021 2021
£ £ £
Tangible assets 11,392 - 11,392
Net current assets 97,877 95,643 193,520
109,269
95,643
Unrestricted
funds
Restricted
funds
2020
2020
£
£
Fund balances at 30 November 2020 are represented by:
109,269 95,643 204,912
Total
2020 2020 2020
£ £ £
Tangible assets 694 - 694
Net current assets 115,497 117,136 232,633
116,191 117,136 233,327

15 Related party transactions

During the year, £250 (2020 - £250) has been charged to the charitable company for web hosting services. These fees were charged by a company of which one of the directors, Mr P M Ashton, is a trustee of Salford Loaves and Fishes Limited. At the year end, a total of £500 is owed to the company and is included in creditors.

16 Prior year adjustment

On review, it was found that donation income of £73,661 from the National Lottery and £17,474 from Edward Holt Trust should have been recognised as restricted fund income in the accounts for year ended 30 November 2020, rather than being treated as deferred income to be recognised the following year. Although the income concerned had not been spent at 30 November 2020 , it had been received at that point and the charity had legal entitlement to it. Consequently, an adjustment has been made to the 2020 income figures in the SOFA and in note 3, Restricted fund balance carried forward at 30 November 2020 have been amended accordingly and deferred income has been amended similarly. This treatment of the income concerned is in line with the accounting requirements of the Charity SORP.

A similar situation had arisen in the 2019 accounts. To remedy this, restricted funds brought forward at 1 December 2019 have been increased by £33,940 and deferred income reduced by the same amount,

The net impact of the above adjustments is to increase income for 2020 by £57,195, reduce deferred income as at 30 November 2020 by £91,135 and increase restricted funds carried forward at that date by £91,135.