Registered number: 06533051 Charity number: 1126049
Cheam Priory Day Centre
(A company limited by guarantee)
Unaudited
Trustees' report and financial statements For the year ended 31 March 2021
Cheam Priory Day Centre
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the charity, its Directors and trustees and | 1 |
| advisers | |
| Trustees' report | 2 - 4 |
| Trustees' responsibilities statement | 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 22 |
Cheam Priory Day Centre
(A company limited by guarantee)
Reference and administrative details of the charity, its Directors and trustees and advisers For the year ended 31 March 2021
Directors and trustees
Mr R W Daniels
Mrs M A Johnston
Rev N W Leggett
Mr A R Lewis
Mr M W Markan
Mr P J Trower
Company registered number
06533051
Charity registered number
1126049
Registered office
316 Malden Road, Cheam, Sutton, Surrey, SM3 8EP
President
The Mayor of the London Borough of Sutton
Independent Examiner
Kreston Reeves LLP, Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG
Page 1
Cheam Priory Day Centre
(A company limited by guarantee)
Trustees' report For the year ended 31 March 2021
The Trustees present their annual report together with the financial statements of the charity for the 1 April 2020 to 31 March 2021. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objectives of the charity which were revised in March 2014 are "To promote the welfare of the aged in any manner which now is or hereafter may be deemed by law to be charitable for those living within a reasonable distance of the charity's facilities. In particular to provide day care facilities for the elderly and also for those of any age who are affected by dementia or related conditions".
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Main activities undertaken to further the charity's purposes for the public benefit
Our main activities are available to all of the elderly living within the London Borough of Sutton (LBS) regardless of race or creed. Whilst we now mainly have fee paying clients, those unable to pay the fee can be referred through London Borough of Sutton Social Services who will provide a financial assessment and if appropriate will provide assistance via the direct payments scheme; many are thus able to benefit free of charge or at least receive assistance with the fees.
In planning our activities the trustees always consider the public benefit requirement and ensure that services offered all meet this criteria.
Page 2
Cheam Priory Day Centre (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 March 2021
Achievements and performance
a. Review of activities
I do not need to elaborate on what a difficult year this was for the Centre, as it was for pretty much all businesses throughout the country. If it wasn’t for the Government grant and Sutton Council waiving the rent for the months we had to close, we would be showing a large deficit instead of a reasonable surplus. If it wasn’t for the Staff Retention Scheme, it’s unlikely the Centre would have survived.
On the positive side, once we reopened at the end of July 2020, the client numbers gradually picked up and despite a downturn in the last three months of 2020/21 (the winter months are always unpredictable) the first three months of 2021/22 have been the best start we’ve had to an accounting period in a very long time. The overall feeling currently is cautious optimism. Looking forward to the year ahead while keeping a close eye on the Covid statistics and fingers firmly crossed.
This feelgood factor in these difficult times is due entirely to Carol and her wonderful team. Throughout the last year, they have shown great determination and fortitude in maintaining the high standard of care achieved preCovid, despite the many obstacles in their way. The Board of Trustees wish to thank them immensely and look forward in seeing them carry on their excellent work throughout the year 2021/22 and beyond.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
At the year end total unrestricted funds of £111,839 (2020 - £96,694) were comprised of £39,519 general funds and £72,320 designated funds (as at 31 March 2020 these were £40,311 and £56,383 respectively).
At the year end £nil was held in restricted funds for major capital replacement (31 March 2020 - £nil).
At the year end £2,852 was held in restricted funds in regards to the Magic Table Fund.
General funds include £40,846 (31 March 2020 - £56,212) tied up in fixed assets held for charitable use.
Free reserves are funds available to meet shortfalls in income and to finance unexpected expenditure and fixed asset purchases. Free reserves include designated funds but exclude amounts tied up in fixed assets. At 31 March 2020 free reserves were £70,993 (2020 - £40,482).
The trustees have a policy to designate funds for fixed asset replacement. An amount equivalent to the value of the depreciation charged in the year is transferred from general funds into these designated funds. When new fixed assets are purchased, an amount is transferred from these funds into general funds.
Page 3
Cheam Priory Day Centre
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 March 2021
Financial review (continued)
c. Covid-19
The centre was closed on 23rd March 2020. Claims under the government’s staff retention scheme started on April 1st and in the year the charity claimed a total of £80,346.
The centre was awarded a Government grant of £25,000 via Sutton Council. The council has also waived 4 months rent when the centre was closed.
The centre re-opened on a limited basis on 27th July. During August and September, the number of clients and staff returning has increased steadily to the extent that the centre is close to the levels experienced before the lockdown.
Structure, governance and management
a. Constitution
Cheam Priory Day Centre is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The trustees who served during the year and in the period up to the date of approval of this report are shown on page 1. The trustees are also the directors of the company.
The trustees, President and Executive Committee are appointed in accordance with the Memorandum and Articles of Association. Induction and training of trustees is undertaken on an individual basis as and when appropriate.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Mrs M A Johnston Trustee
Date:
Page 4
Cheam Priory Day Centre
(A company limited by guarantee)
Statement of Trustees' responsibilities For the year ended 31 March 2021
The Trustees (who are also the directors of the charity for the purposes 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102)
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its behalf by:
................................................ Mrs M A Johnston
Date:
Page 5
Cheam Priory Day Centre (A company limited by guarantee)
Independent examiner's report
For the year ended 31 March 2021
Independent examiner's report to the Trustees of Cheam Priory Day Centre ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2021.
Responsibilities and basis of report
As the Trustees of the charity (and 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 charity 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 the charity's accounts 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
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
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 the charity 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.
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. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Dated: Sarah Ediss BSc, FCA Kreston Reeves LLP Chartered Accountants Horsham
Page 6
Cheam Priory Day Centre
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2021
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 105,917 268,654 720 27 375,318 360,173 360,173 15,145 96,694 15,145 111,839 |
Restricted funds 2021 £ 2,852 - - - 2,852 - - 2,852 - 2,852 2,852 |
Total funds 2021 £ 108,769 268,654 720 27 378,170 360,173 360,173 17,997 96,694 17,997 114,691 |
Total funds 2020 £ 943 414,693 3,905 130 |
|---|---|---|---|---|
| 419,671 432,517 |
||||
| 432,517 | ||||
| (12,846) 109,540 (12,846) |
||||
| 96,694 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 22 form part of these financial statements.
Page 7
Cheam Priory Day Centre (A company limited by guarantee) Registered number: 06533051
Balance sheet As at 31 March 2021
| Note Fixed assets Tangible assets 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 15 Total net assets Charity funds Restricted funds 16 Unrestricted funds 16 Total funds |
782 41,168 65,263 107,213 (33,368) |
2021 £ 40,846 40,846 73,845 114,691 - 114,691 2,852 111,839 114,691 |
782 27,015 42,666 70,463 (29,217) |
2020 £ 56,212 |
|---|---|---|---|---|
| 56,212 41,246 |
||||
| 97,458 (764) |
||||
| 96,694 - 96,694 |
||||
| 96,694 |
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Mrs M A Johnston
Date:
The notes on pages 9 to 22 form part of these financial statements.
Page 8
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
1. General information
The charity is a company limited by guarantee. The members of the charitable company are the Trustees named on page 1 . In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Cheam Priory Day Centre 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.
2.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity 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.
Whilst the impact of the COVID-19 pandemic has been assessed by the trustees, so far as is reasonably possible, due to its unprecendented impact on the worldwide economy it is difficult to evaluate with any certainty the potential outcomes on the charity's future activities. However, taking into consideration the charity's level of reserves, the trustees believe that the charity will be able to continue in operational existence for the foreseeable future.
2.3 Income
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 income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 9
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
2. Accounting policies (continued)
2.4 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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
2.6 Interest receivable
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 institution with whom the funds are deposited.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
| Long-term leasehold property | - over the lease term |
|---|---|
| Motor vehicles | - 25% per annum on a straight line basis |
| Fixtures and fittings | - 10% per annum on a straight line basis |
| Office equipment | - 25% or 50% per annum on a straight line basis |
2.8 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 10
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
2. Accounting policies (continued)
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.12 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Finance leases and hire purchase
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the charity. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of financial activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
2.14 Operating leases
Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.
2.15 Pensions
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
Page 11
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
2. Accounting policies (continued)
2.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 12
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
3. Income from donations and legacies
| Donations Government grants Donations 4. Income from charitable activities Provision of day centre and care Provision of day centre and care |
Unrestricted funds 2021 £ 571 105,346 105,917 |
Restricted funds 2021 £ 2,852 - 2,852 Unrestricted funds 2020 £ 943 Unrestricted funds 2021 £ 268,654 Unrestricted funds 2020 £ 414,693 |
Total funds 2021 £ 3,423 105,346 |
|---|---|---|---|
| 108,769 | |||
| Total funds 2020 £ 943 |
|||
| Total funds 2021 £ 268,654 |
|||
| Total funds 2020 £ 414,693 |
Page 13
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
5. Income from other trading activities
Income from non charitable trading activities
| Unrestricted funds 2021 £ Income from hall hire 720 Unrestricted funds 2020 £ Income from hall hire 3,905 6. Investment income Unrestricted funds 2021 £ Bank interest recievable 27 Unrestricted funds 2020 £ Bank interest recievable 130 7. Analysis of expenditure by activities Activities undertaken directly 2021 £ Provision of day centre and care 360,173 |
Total funds 2021 £ 720 |
|---|---|
| Total funds 2020 £ 3,905 |
|
| Total funds 2021 £ 27 |
|
| Total funds 2020 £ 130 |
|
| Total funds 2021 £ 360,173 |
Page 14
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
7. Analysis of expenditure by activities (continued)
| Provision of day centre and care All expenditure in both 2021 and 2020 was unrestricted. |
Activities undertaken directly 2020 £ 432,517 |
Total funds 2020 £ 432,517 |
|---|---|---|
Analysis of direct costs
| Provision of a day centre 2021 £ Staff costs 243,933 Depreciation 15,366 Activities 2,338 Rent 22,000 Rates and insurance 7,225 Light and heat 12,266 Maintenance, repairs and improvements 11,817 Cleaning 6,128 HR fees 1,675 Consultancy and advertising fees 4,554 Food 13,585 Transport 7,861 Postage, stationery, telephone and computing 3,228 Sundry expenses 2,392 Bookkeeping 2,078 Bank charges 211 Independent examiner's fee 3,090 Hire purchase interest 426 360,173 |
Total funds 2021 £ 243,933 15,366 2,338 22,000 7,225 12,266 11,817 6,128 1,675 4,554 13,585 7,861 3,228 2,392 2,078 211 3,090 426 |
|---|---|
| 360,173 |
Page 15
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
7. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Depreciation Activities Rent Rates and insurance Light and heat Maintenance, repairs and improvements Cleaning HR fees Consultancy and advertising fees Food Transport Postage, stationery, telephone and computing Sundry expenses Bookkeeping Training Bank charges Independent examiner's fee Trustee's expenses Hire purchase interest |
Provision of a day centre 2020 £ 276,611 19,115 3,714 33,000 8,373 14,432 14,749 6,696 4,130 6,297 21,132 9,159 3,564 3,611 2,415 300 281 3,240 360 1,338 432,517 |
Total funds 2020 £ 276,611 19,115 3,714 33,000 8,373 14,432 14,749 6,696 4,130 6,297 21,132 9,159 3,564 3,611 2,415 300 281 3,240 360 1,338 |
|---|---|---|
| 432,517 |
8. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £ 3,240 (2020 - £3,240) , and reimbursed trustee expenses of £ - ( 2020 - £360 ).
9. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2021 £ 223,316 17,330 3,287 243,933 |
2020 £ 253,957 19,030 3,624 |
|---|---|---|
| 276,611 |
Page 16
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
9. Staff costs (continued)
The average number of persons employed by the charity during the year was as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Average monthly number of employees | 12 | 14 |
No employee received remuneration amounting to more than £60,000 in either year.
Remuneration of key management personnel for the year consisted of wages and salaries of £49,490 (2019: £49,490) and social security costs of £5,462 (2019: £5,667).
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 31 March 2021, expenses totalling £NIL were reimbursed or paid directly to Trustee (2020 - £360 to 5 Trustees). The expenses related to travel costs and reimbursed for a board away day.
Page 17
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
11. Tangible fixed assets
| Cost or valuation At 1 April 2020 At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Long-term leasehold property £ 45,850 45,850 20,693 3,600 24,293 21,557 25,157 |
Motor vehicles £ 52,705 52,705 27,780 12,520 40,300 12,405 24,925 |
Fixtures and fittings £ 19,460 19,460 18,131 (2,245) 15,886 3,574 1,329 |
Office equipment £ 31,095 31,095 26,294 1,491 27,785 3,310 4,801 |
Total £ 149,110 |
|---|---|---|---|---|---|
| 149,110 | |||||
| 92,898 15,366 |
|||||
| 108,264 | |||||
| 40,846 | |||||
| 56,212 |
The net book value of assets held under finance leases or hire purchase contracts included above, are held in motor vehicles with net book value of £nil (2020: £10,964)
12. Stocks
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Finished goods and goods for resale | 782 | 782 |
13. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2021 £ 27,246 201 13,721 41,168 |
2020 £ 26,330 367 318 |
|---|---|---|
| 27,015 |
Page 18
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
14. Creditors: Amounts falling due within one year
| Trade creditors Obligations under finance lease and hire purchase contracts Other creditors Accruals and deferred income Deferred income Resources deferred during the year Amounts released from previous periods Creditors: Amounts falling due after more than one year Net obligations under finance lease and hire purchase contracts |
2021 £ 14,047 834 1,335 17,152 33,368 2021 £ 10,964 (10,964) - 2021 £ - |
2020 £ 3,027 8,867 519 16,804 |
|---|---|---|
| 29,217 2020 £ 10,964 (10,964) |
||
| - 2020 £ 764 |
15. Creditors: Amounts falling due after more than one year
Net obligations under finance lease and hire purchase contracts
Page 19
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
16. Statement of funds
Statement of funds - current year
| Balance at 1 April 2020 £ Income £ Unrestricted funds Designated funds Designated Funds - all funds 56,383 - General funds General Funds - all funds 40,311 375,318 Total Unrestricted funds 96,694 375,318 Designated funds represent amounts allocated by the trustees Restricted funds Magic Table Fund - 2,852 Total of funds 96,694 378,170 |
Expenditure £ Transfers in/out £ Balance at 31 March 2021 £ - 15,937 72,320 (360,173) (15,937) 39,519 (360,173) - 111,839 towards replacing fixed assets - - 2,852 (360,173) - 114,691 |
Balance at 31 March 2021 £ 72,320 |
|---|---|---|
| 39,519 | ||
| 111,839 | ||
| 114,691 |
Magic Table Fund, this is a collection donations from families to be used to help clients suffering with dementia.
Page 20
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
16. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Designated Fund General funds General Fund Total Unrestricted funds |
Balance at 1 April 2019 £ 40,958 68,582 109,540 |
Income £ - 419,671 419,671 |
Expenditure £ - (432,517) (432,517) |
Transfers in/out £ 15,425 (15,425) - |
Balance at 31 March 2020 £ 56,383 |
|---|---|---|---|---|---|
| 40,311 | |||||
| 96,694 |
17. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 40,846 104,361 (33,368) 111,839 |
Restricted funds 2021 £ - 2,852 - 2,852 |
Total funds 2021 £ 40,846 107,213 (33,368) |
|---|---|---|---|
| 114,691 |
Page 21
Cheam Priory Day Centre (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
17. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2020 £ 56,212 70,463 (29,217) (764) 96,694 |
Total funds 2020 £ 56,212 70,463 (29,217) (764) |
|---|---|---|
| 96,694 |
18. Pension commitments
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £3,287 (2020 - £3,624). Contributions totalling £nil (2020 - £nil) were payable to the fund at the balance sheet date and are included in creditors.
19. Operating lease commitments
The charity is currently in the process of agreeing a new lease. Whilst the annual rent and term of the lease have not yet been formally agreed, the charity expects to have a minimum annual commitment of £33,000 for a period of at least 4.5 years from the balance sheet date, giving a minimum total commitment of £147,641
20. Related party transactions
The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 March 2021.
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