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2021-03-31-accounts

M5nine Community Projects

Charity No. 1125819

Trustees' Report and Unaudited Accounts

31 March 2021

M5nine Community Projects Contents

Pages
Trustees' Annual Report 2
Statement of Financial Activities 3
Balance Sheet 4
Statement of Cash flows 11
Notes to the Accounts 5 to 10
Detailed Statement of Financial Activities 12 to 13

Page 1

M5nine Community Projects Trustees Annual Report

The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1125819

Principal Office

Address Line 5

Trustees

The following Trustees served during the year:

L. Else

J.E. Poppy L. Watkins

Accountants

Amstone Management Limited Powys Lodge 6 Court Road Strensham Worcestershire WR8 9LP

PLANS FOR FUTURE PERIODS

There are no plans to change the way that the charity operates in the foreseeable future

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

L. Else Trustee 27 December 2021

Page 2

M5nine Community Projects Statement of Financial Activities

for the year ended 31 March 2021

Notes
Income and endowments
from:
Donations and legacies
3
Other
4
Total
Expenditure on:
Charitable activities
5
Other
6
Total
Net gains on investments
Net income/(expenditure)
7
Transfers between funds
Net income/(expenditure)
before other gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricte
d funds
2021
£
22,091
15,908		 Total funds
2021
£
22,091
15,908		 Total funds
2020
£
24,765
-
37,999
557
27,235		 37,999
557
27,235		 24,765
930
28,709
27,792
-		 27,792
-		 29,639
-
10,207
-		 10,207
-		 (4,874)
-
10,207 10,207 (4,874)
10,207
386		 10,207
386		 (4,874)
5,260
10,593 10,593 386

Page 3

M5nine Community Projects Balance Sheet

at 31 March 2021

Charity No. 1125819
Fixed assets
Tangible assets
9
Current assets
Cash at bank and in hand
Creditors:Amount falling due within one year
10
Net current assets/(liabilities)
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
11
Unrestricted funds
11
General funds
Reserves
11
Total funds		 2021
£
1,127
1,127
12,487
12,487
(3,021)
9,466
10,593
10,593
10,593
10,593
10,593
10,593		 2020
£
2,254
2,254
2,851
2,851
(4,719)
(1,868)
386
386
386
386
386
386

Approved by the trustees on 27 December 2021

And signed on their behalf by:

L. Else Trustee 27 December 2021

Page 4

M5nine Community Projects Notes to the Accounts

for the year ended 31 March 2021

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 5

M5nine Community Projects Notes to the Accounts

Expenditure

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 6

M5nine Community Projects Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
3
Income from donations and legacies
4
Other income
Coronavirus Job Retention
Scheme grants		 Unrestricted
£
22,091
22,091
Unrestricted
£
15,908
15,908		 Unrestricted
funds
2020
£
24,765
24,765
930
28,709
29,639
(4,874)
(4,874)
(4,874)
5,260
386
Total
2021
£
22,091
22,091
Total
2021
£
15,908
15,908		 Total funds
2020
£
24,765
24,765
930
28,709
29,639
(4,874)
(4,874)
(4,874)
5,260
386
Total
2020
£
24,765
24,765
Total
2020
£
-
-

Page 7

M5nine Community Projects Notes to the Accounts

Expenditure on charitable
activities
Governance costs
6
Other expenditure
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
7
Net income/(expenditure) before transfers
This is stated after charging:
Depreciation of owned fixed assets
8
Staff costs
Salaries and wages
Social security costs
No employee received emoluments in excess of £60,000.		 Unrestricted
£
557
557
Unrestricted
£
23,007
-
1,628
1,127
773
700
27,235
2021
£
1,127
22,008
999
23,007		 Total
2021
£
557
557
Total
2021
£
23,007
-
1,628
1,127
773
700
27,235		 Total
2020
£
930
930
Total
2020
£
22,275
1,194
2,885
1,127
628
600
28,709
2020
£
1,127
21,341
934
22,275

Page 8

M5nine Community Projects Notes to the Accounts

9 Tangible fixed assets

Cost or revaluation
At 1 April 2020
At 31 March 2021
Depreciation and
impairment
At 1 April 2020
Depreciation charge for the
year
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020
10 Creditors:
amounts falling due within one year
Other taxes and social security
Accruals and deferred income		 2021
£
487
2,534
3,021		 £
5,635
5,635
3,381
1,127
4,508
1,127
2,254		 £
5,635
5,635
3,381
1,127
4,508
1,127
2,254
2020
£
489
4,230
4,719
11 Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
12 Analysis of net assets between funds
Fixed assets
Net current assets		 At 1 April
2020
386
386		 Incoming
resources
(including
other
gains/losses
)
£
37,999
37,999		 Resources
expended
£
(27,792)
(27,792)
Unrestricted
funds
£
1,127
9,466
10,593		 At 31
March
2021
£
10,593
10,593
Total
£
1,127
9,466
10,593

Page 9

M5nine Community Projects Notes to the Accounts

13 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2020
£		 Cash flows
£		 At 31
March
2021
£
2,851 9,636 12,487
2,851
2,851		 9,636
9,636		 12,487
12,487

Page 10

M5nine Community Projects Statement of Cash flows for the year ended 31 March 2021

Cash flows from operating activities
Net income/(expenditure) per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Dividends, interest and rents from investments
(Decrease)/Increase in trade and other payables
Net cash used in operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Net cash from investing activities
Net cash from financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2021
£
10,207
1,127
(15,908)
(1,698)
(6,272)
15,908
15,908
-
9,636
2,851
12,487		 2020
£
(4,874)
1,127
-
934
(2,813)
-
-
-
(2,813)
5,664
2,851
Components of cash and cash equivalents
Cash and bank balances 12,487 2,851
12,487 2,851

Page 11

M5nine Community Projects Detailed Statement of Financial Activities

for the year ended 31 March 2021

Income and endowments from:
Donations and legacies
Other
Coronavirus Job Retention
Scheme grants
Total income and endowments
Expenditure on:
Charitable activities
Total of expenditure on charitable
activities
Employee costs
Salaries/wages
Employer's NIC
Vehicles - Insurance and licences
Premises costs
Rent
Rates
General administrative costs,
including depreciation and
amortisation
Depreciation of
General insurances
Sundry expenses
Legal and professional costs
Accountancy and bookkeeping
Total of expenditure of other costs
Total expenditure
Net gains on investments		 Unrestricted
funds
2021
£
22,091
22,091
15,908
15,908
37,999
557
557
557
22,008
999
23,007
-
-
1,560
68
1,628
1,127
693
80
1,900
700
700
27,235
27,792
-		 Total funds
2021
£
22,091
22,091
15,908
15,908
37,999
557
557
557
22,008
999
23,007
-
-
1,560
68
1,628
1,127
693
80
1,900
700
700
27,235
27,792
-		 Total funds
2020
£
24,765
24,765
-
-
24,765
930
930
930
21,341
934
22,275
1,194
1,194
2,885
-
2,885
1,127
259
369
1,755
600
600
28,709
29,639
-

Page 12

M5nine Community Projects Detailed Statement of Financial Activities

Net income/(expenditure)
Net income/(expenditure) before
other gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 10,207
10,207
-
10,207
386
10,593		 10,207
10,207
-
10,207
386
10,593		 (4,874)
(4,874)
-
(4,874)
5,260
386

Page 13