**THE DERWENT INITIATIVE** (A company limited by guarantee)
**REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2020**
**Charity Number 1126951 Company Number 06725535**
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
For the year ended 31 December 2020
|**Contents**|**Page**||
|---|---|---|
|Trustees annual report|1 to 8||
|Independent examiners report||9|
|Statement of Financial Activities (including||10|
|income and expenditure account)|||
|Balance sheet||11|
|Notes to the financial statements|12 to|18|
**TDI (The Derwent Initiative)** (A company limited by guarantee) **TRUSTEE ANNUAL REPORT (including Director’s report)** For the year ended 31[st] December 2020
The trustees are pleased to present their annual trustees’ report together with the financial statements of the charity for the year ended 31[st] December 2020 which are also prepared to meet the requirements for a trustees’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 2015)
## **1. Objectives and Activities**
## **Aims of the Charity**
TDI (The Derwent Initiative) is an independent UK charity, founded in 1993, which works to improve public protection by finding creative and practical approaches to reduce the risk of sexual offending. We create and deliver training, projects, consultancy and research, working with lay people and professionals throughout the UK. Our specific charitable objectives are:
- Throughout the United Kingdom and overseas to reduce the likelihood of sexual offending and to minimize its effects for the benefit of the public in general;
- To advance education for the public benefit concerning the incidence, effects and treatment of sexual offences and offenders and their victims, and the services available in this respect; in particular but not exclusively of people involved, whether professionally or otherwise, with the care and treatment of sexual offenders, their victims, or parents and families of those victims.
## **Objectives, strategies and activities for the year**
It hardly needs saying that 2020 was an extraordinary year. Like many other organisations in the UK and elsewhere, from mid-March we were thrown into a completely different approach to our work. At the start of the first lockdown, our future looked bleak. The compulsory closure of nearly all the premises run by our Leisurewatch members meant that our signature advantage of face-to-face training instantly became impossible. In addition, it seemed highly unlikely in the midst of such turbulence that organisations would see nonstatutory training and consultancy as a high priority. We had no reserves, and, although a proportion of Leisurewatch fees from existing members had been paid, we feared that delays or cancellations of payment, combined with a probable dearth of future specialist training commissions whilst the situation lasted, would cause catastrophic cash-flow problems. The trustees convened, and it was agreed that measures would be taken immediately to cut expenditure as far as possible and to consider how our working practices might be changed to give us the best chance of survival.
1
**TDI (The Derwent Initiative)** (A company limited by guarantee) **TRUSTEE ANNUAL REPORT (including Director’s report)** For the year ended 31[st] December 2020
As a team, we decided that Matt and Beverley should be furloughed, and that Deborah (our unpaid Chief Executive) and Dave (our freelance trainer) would try to keep TDI afloat. We were fortunate to receive a Small Business Support Grant from Newcastle Council, which together with the furlough payments maintained cash flow enough to keep our heads above water. Although most of our shopping centre Leisurewatch members fell out of the scheme due to the extremity of their economic situation, other members did pay their dues. With the help of our landlords, Project North East, we downsized from our large offices to a much smaller office in the same complex, although of course for much of the year we only visited it intermittently, as everybody was at home.
Many of our local authority members were repurposing their premises to support volunteers helping the vulnerable, having furloughed many of their employees. We quickly offered free online resources for volunteer groups, which were greatly appreciated by the members. We were helped in this by a Portugese volunteer graphic designer found through the Furlonteer initiative. Catarina Araújo very kindly not only designed the slides for the training for volunteers, but also went on to redesign our Leisurewatch training.
As the year progressed, we began to work on adapting both our Leisurewatch scheme and our tailored training offer for online delivery. We have been able to pilot several different remote delivery methods with Leisurewatch members and specialist clients throughout the year. Based on the success of these, we are undertaking the groundwork for a complete reimaging of our training offer. This will be a tiered system of offers, ranging from free ‘Explainers’ through on-demand non-interactive short courses, to our current ‘gold standard’ wholly interactive online delivery available for individuals or organisations. Grant applications are being made to enable what will be our largest development programme in recent years. We are hopeful that this investment will result in increased reach and income schemes over the coming years.
We finished 2020 in a much better place than we had anticipated in March, but we are very much aware that we have been a beneficiary of state support and are mindful of the need to capitalise on our newly acquired skills and resources. As we write this report, we do not know whether more of the Leisurewatch members will be obliged or minded to withdraw from the scheme. Whilst we have gained some new specialist training commissions, we need to build on these to secure more.
We continue to believe that TDI offers a unique service and is as relevant as it ever has been. We are determined to end 2021 in a more secure position, reliant once more upon our own ability to generate income rather than dependent, however gratefully, on the grants, which have come to our aid since the beginning of the pandemic.
As ever, we are grateful to all those who have helped us through this exceptional year. Our trustees have been a great support. The staff of PNE have helped us in many ways, especially Melissa Middleton who has given us both business advice and moral support. The Handley and Rothley Trusts have once again come to our aid. We have benefited from the kindness of individuals who have helped us adjust to a new world, especially Catarina Araújo, Melissa Middleton and Chris Thompson.
2
## **TDI (The Derwent Initiative)** (A company limited by guarantee) **TRUSTEE ANNUAL REPORT (including Director’s report)** For the year ended 31[st] December 2020
Brian Herron, who had worked with TDI leading the Leisurewatch scheme in Northern Ireland for 14 years, decided to retire in November. He has been a wonderful team member and a great champion for TDI in Northern Ireland. The success of Leisurewatch there is very much down to him and we will all miss his wisdom, professionalism and good humour.
Our grateful thanks go to everybody who has helped TDI not only reach the end of 2020 but do so in a good state to thrive.
## **Public Benefit Statement**
All of TDI’s activities are carried out for public benefit in accordance with Charity Commission guidance.
## **Policy on Grant Making**
TDI is not a grant-making organisation.
## **Policy on Social Investment**
TDI does not have sufficient funds to invest.
## **Contribution by Volunteers**
.
Our CEO, Deborah Jenkins acts on a voluntary basis.
## **2. Achievements and Performance**
## Leisurewatch
We have continued to deliver Leisurewatch training through our freelance model throughout 2020, although understandably this has been in lower volume than in previous years. The accounts reflect this in terms of reduced spending on delivering training.
As additional services to Leisurewatch members following consultation we provided open access non-interactive online training for organisers of volunteer groups, briefings and explainers to address issues as they arose. We created two online versions of the Leisurewatch front-line training, so that participants could access directly from their own devices, or where staff were still on site, they could be in the same room at their venue with our trainer on-screen working with a facilitator in the room. We have also developed a new approach to working with Leisurewatch managers to ensure that both we and they can stay abreast of a rapidly changing environment due to Covid-19.
3
**TDI (The Derwent Initiative)** (A company limited by guarantee) **TRUSTEE ANNUAL REPORT (including Director’s report)** For the year ended 31[st] December 2020
## Tailored Training
During 2020 we delivered training for a number of organisations, including several new clients. Demand has held up well, despite the difficult backdrop. We adapted our training courses to be delivered online and piloted during the autumn with good feedback. We also worked on our new tiered approach to online delivery, with a view to launching in March 2021.
## **3. Financial review**
## **Review of the year**
The results for the year and the company's financial position at the end of the year are shown in the attached financial statements.
During the year the Charity had income of £70,203 (2019: £72,991) and expenditure of £49,590 (2019: £76,722). There was an operating surplus of £20,613 (2019: deficit of £3,731).
At 31 December 2020 the Charity had net assets of £2,667 (2019: net liabilities of £17,946).
## **Reserves policy/Going concern**
The Trustees remain committed to their long-term plan to establish reserves sufficient to cover 6 months of operating costs (around £37,000 based on 2020 expenditure). This will allow the charity to be wound up in an orderly way should our finances return to their historic precarious position. We do not anticipate this level of reserves being achieved in the 2021 financial year. However, we expect to be considerably closer than we have been in recent years..
## **Risk Management**
The Board is responsible for the management of the risks to which the Charity is exposed. A risk register is produced which considers financial, governance and delivery risks.
For each risk, the register identifies:
- Initial risk assessment in terms of impact and likelihood
- Initial risk rating
- Counter measures
- Responsibility / ownership
- Timescale
- Amended risk assessment in terms of impact and likelihood
- Amended risk rating
4
**TDI (The Derwent Initiative)** (A company limited by guarantee) **TRUSTEE ANNUAL REPORT (including Director’s report)** For the year ended 31[st] December 2020
The Board reviews the risk register throughout the year. Through the counter measures put in place in the risk register and the regular reviews and updates, the Board is satisfied that the major risks identified have been adequately mitigated. It is recognised that this approach can only provide reasonable but not absolute assurance that major risks have been adequately managed.
## **4. Plans for 2021**
As we write, it seems likely that the demand for interactive online training will rise now that so many organisations have had no alternative but to adapt to it throughout the pandemic. Thus although we will revert to offering face-to-face training when conditions permit, we are planning for a more comprehensive offer of online training which we think will give us access to much bigger markets. At the time of writing this narrative, the Government furlough scheme is set to extend until the end of September, which will impact on the delivery of this ambitious programme of work.
Once we have refined the new online approach to delivering Leisurewatch, we will also begin to market the scheme more widely. As venues reopen under the ‘road map’ for exiting lockdown they will be facing new challenges created by the conditions of the last year. We have already noted that opportunities for grooming have not solely been online, but have also moved to new physical areas of towns and cities during the closure of venues which did have security, such as leisure centres and shopping malls. It seems likely that local authorities will need to adapt to manage new risks, and we hope that Leisurewatch may be of assistance to them.
We will pick up the Community of Interest concept, which was paused at the start of the pandemic, and hope to pilot some form of support community for front line managers of public spaces before the end of the year.
Overall, we hope to continue to turn this crisis and its aftermath into learning and improvement, which will help us become more successful at furthering our charitable objectives. We are optimistic about the future for TDI.
5
**TDI (The Derwent Initiative)** (A company limited by guarantee) **TRUSTEE ANNUAL REPORT (including Director’s report)** For the year ended 31[st] December 2020
**5. Reference and administrative details of the charity, its trustees and advisors Registered charity name TDI (The Derwent Initiative) Charity number 1126951 Company registration number 06725535 Registered office Suite 4, Adamson House, 65 Westgate Road, Newcastle upon Tyne NE1 1SG Trustees and Members of the Board Ms LVM Armstrong (Chair) Mrs SM Winfield OBE Ms CJ Parnell Mr MH Brown (FCA) Chief Executive and Senior staff members Ms DM Jenkins MBE Ms B Gray Mr MF Jenkins Independent Examiner Doug Maltman FMAAT Connected Voice Business Services Ltd Higham House Higham Place Newcastle upon Tyne NE1 8AF Bankers The Co-operative Bank Norfolk House 84-86 Grey Street Newcastle upon Tyne NE1 6BZ Solicitors Muckle LLP 32 Gallowgate Newcastle upon Tyne NE1 4BF**
6
**TDI (The Derwent Initiative)** (A company limited by guarantee) **TRUSTEE ANNUAL REPORT (including Director’s report)** For the year ended 31[st] December 2020
## **Funds held as custodian trustees on behalf of others**
None.
## **Exemption from disclosures**
None.
## **6. Structure, governance and management**
## **Governing Document**
The organisation is a Charitable Company Limited by Guarantee. The Company was established under a Memorandum of Association, which established the objects and powers of the Charitable Company and is governed under its Articles of Association. In the event of a winding up any member (who is a director) undertakes to contribute to the payment of liabilities, such amount as may be required not exceeding the total of £1.
## **Recruitment and Appointment of the Board**
The Directors of the Company are also Trustees for the purposes of charity law and under the company's Articles are also its members. Under the requirements of the Memorandum and Articles of Association, at the Annual General Meeting one-third of the Directors, who are subject to retirement by rotation, shall retire. Retiring Directors can be re-appointed at the Annual General Meeting.
Trustees are selected on the basis of specialist skills and commitment to the objectives and aims of the organisation.
## **Board Induction and Training**
New Board Members are introduced to the work of the organisation and informed of their legal roles and responsibilities at an induction meeting. The induction and training programme for new Board Members includes:
- A briefing by the Chair or Chief Executive
- An explanation of roles and responsibilities as a Board Member
- Copies of the main company documents including the Memorandum and Articles of Association and the Financial Statements
- Copy of the business plan and most recent evaluation report
- Copies of recent board papers including budgets and management accounts
- A copy of the Charity Commission publication "How to be an Effective Trustee"
- A copy of the governance structure.
7
**TDI (The Derwent Initiative)** (A company limited by guarantee) **TRUSTEE ANNUAL REPORT (including Director’s report)** For the year ended 31[st] December 2020
## **7. Statement of Trustee Responsibilities**
The trustees, who are also directors for the purposes of company law, are responsible for preparing the Trustees’ Annual 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 incoming resources and application of resources, including the income and expenditure of the charitable company for that year. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards 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 operation.
-
The trustees are responsible for keeping 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.
Approved by the Board on 28.04.2021 and signed on their behalf by:
Ms LVM Armstrong (Chair)
8
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES**
For the year ended 31 December 2020
I report on the financial statements of The Derwent Initiative for the year ended 31 December 2020, which are set out on pages 10 to 18.
## **Respective responsibilities of trustees and examiner**
The charity's trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 Charities SORP (FRS102).
I 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.
Doug Maltman FMAAT Connected Voice Business Services Ltd Higham House Higham Place Newcastle upon Tyne NE1 8AF Date: 04.05.2021
9
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **STATEMENT OF FINANCIAL ACTIVITIES**
(INCLUDING SUMMARY INCOME & EXPENDITURE ACCOUNT)
For the year ended 31 December 2020
|5
Other trading activities
6
**Expenditure on:**
7
**_Total funds carried forward_**
**Reconciliation of funds**
Total funds brought forward
Notes
**_Total income_**
**Income from:**
Charitable activities
Grants and contracts
Operation of the charity
**_Total expenditure_**
**_Net income/(expenditure) and net_**
**_movement of funds_**
Charitable activities|Unrestricted
Funds
£
93,686
35
93,721
73,108
73,108
20,613
( 17,946 )
2,667|**Total**
**2020**
**£**
**93,686**
**35**
**93,721**
**73,108**
**73,108**
**20,613**
**( 17,946 )**
**2,667**|Total
2019
£|
|---|---|---|---|
||||72,934
57|
||||72,991|
||||76,722|
||||76,722|
||||( 3,731 )
( 14,215 )|
||||(17,946)|
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
The notes on pages 12 to 18 form an integral part of these accounts.
10
Charity Number 1126951 Company Number 06725535
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **BALANCE SHEET**
As at 31 December 2020
|**Current assets**
Debtors
14
Cash at bank and in hand
15
**_Total current assets_**
**Creditors:**amounts falling due within
one year
16
**_Net current assets_**
**_Total assets less current liabilities_**
**Creditors:**amounts falling due after
more than one year
17
**_Total net assets or liabilities_**
**Funds of the charity**
Unrestricted income funds
**_Total funds_**
Notes|**£**
43,261
9,888
**53,149**
**( 50,482 )**
**-**|**Total**
**2020**
**£**
**2,667**
**2,667**
**2,667**
2,667
**2,667**|**£**
51,342
3,288
**54,630**
**( 57,576 )**
**( 15,000 )**|**Total**
**2019**
**£**|
|---|---|---|---|---|
|||||**( 2,946 )**|
|||||**( 2,946 )**|
|||||**( 17,946)**|
|||||( 17,946 )|
|||||**( 17,946)**|
The company was entitled to an exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with the respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
The notes on pages 12 to 18 form an integral part of these accounts.
These financial statements were approved by the Board on:
28.04.2021
and are signed on its behalf by: Ms LVW Armstrong Chair
11
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2020
## 1 **Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## 2 **Basis of accounting**
## 2.1 **Basis of preparation**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Derwent Initiative meets the definition of a public benefit entity under FRS 102.
## 2.2 **Preparation of the accounts on a going concern basis**
The charity reported total unrestricted funds at the year end of £2,667 and the trustees are reviewing the immediate future of the charity for the next 12 months as, outlined in their trustee report for 2020.
Due to the COVID-19 pandemic, it has put pressure on all businesses in 2020. It should be noted that the trade debtors will be received and that the creditors are being paid when the payments are falling due. With the deferred income being held for the purposes of future expenditure during 2021.
## 3 **Income**
## 3.1 **Recognition of income**
Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability
## 3.2 **Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.
## 3.3 **Grants and donations**
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.
12
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2020
## 3.4 **Income from membership subscriptions**
Membership subscriptions received in the nature of a gift are recognised in donations and legacies.
Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
## 3.5 **Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the
## 4 **Expenditure and liabilities**
## 4.1 **Liability recognition**
Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## 4.2 **Governance and support costs**
Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
## 4.3 **Irrecoverable VAT**
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## 4.4 **Creditors**
The charity has creditors which are measured at settlement amounts less any trade discounts.
## 4.5 **Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
13
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2020
## **Analysis of income**
|**nalysis of income**||||
|---|---|---|---|
|5
**Charitable activities**
Job retension scheme grant
Specialist training
6
**Other trading activities**
Other income
The W A Handley Trust
Hadrian Trust
Leisurewatch Membership
Leisurewatch new business
Newcastle City Council - Covid 19 fund
Rothley Trust|Unrestricted
Funds
£
2,250
-
10,000
700
48,038
-
23,518
9,180
93,686
35
35|**Total**
**2020**
**£**
**2,250**
**-**
**10,000**
**700**
**48,038**
**-**
**23,518**
**9,180**
**93,686**
**35**
**35**|Total
2019
£|
||||2,250
1,000
-
-
56,404
4,256
-
9,024|
||||72,934|
||||57|
||||57|
Income was £93,721 (2019: £72,991) of which £93,721 was unrestricted or designated (2019: £72,991) and £0 was restricted (2019: £0)
14
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2020
## **Analysis of expenditure on charitable activities**
|7|**_Charitable activities_**
Direct costs
Support costs
Miscellaneous costs
Governance costs
Wages and salaries
Staff pension costs
Payroll fees
Printing, postage and stationery
Other office costs
Independent examiner's fees for reporting on
the accounts
Depreciation
Rent, rates and water
Insurance
IT and communications
Training and consultancy|Unrestricted
Funds
£
41,966
2,784
8,042
11,936
1,820
2,026
669
61
2,252
556
-
996
73,108|**Total**
**2020**
**£**
**41,966**
**2,784**
**8,042**
**11,936**
**1,820**
**2,026**
**669**
**61**
**2,252**
**556**
**-**
**996**
**73,108**|Total
2019
£|
|---|---|---|---|---|
|||||40,531
1,656
11,183
14,921
1,800
1,797
585
1,330
1,497
82
392
948|
|||||76,722|
Expenditure on charitable activities was £73,108 (2019: £76,722) of which £73,108 was unrestricted or designated (2019: £76,722) and £0 was restricted (2019: £0)
|8
9
Other accountancy services paid to the examiner - payroll
Pension costs (defined contribution pension plan)
**Analysis of staff costs and the cost of key management personnel**
Salaries and wages
Social security costs
**Fees for examination of the accounts**
Independent examiner's fees for reporting on the accounts|**2020**
**£**
**996**
**669**
**1,665**
**2020**
**£**
**41,616**
**350**
**2,784**
**44,750**|2019
£|
|---|---|---|
|||948
585|
|||1,533|
|||2019
£|
|||40,335
196
1,656|
|||42,187|
No employee received remuneration above £60,000 (2019: £nil)
The key management personnel of the charity, comprise the trustees and the Chief Executive. The total employee benefits of the key management personnel of the charity were £2,000.
15
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2020
A furlough grant of £23,518 was received for salaries and wages for the year ended 31 December 2020.
## 10 **Staff numbers**
The average monthly head count was 2 staff (2019: 2 staff) and the average monthly number of full-time equivalent employees during the year were as follows:
|Charitable activities
The parts of the charity in which the employee's work|**2020**
**Number**
**0.3**
**0.3**|2019
Number|
|---|---|---|
|||1.5|
|||1.5|
The charity was part of the HMRC furlough scheme and so effective full time equivalent was 0.3 for the year ended 31 December 2020.
## 11 **Transactions with trustees**
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
## **Trustees' expenses**
No trustee expenses have been incurred in the year.
## **Transaction(s) with related parties 2018**
The following detail the related party transactions in the reporting period.
During the year the company received a loan from Ms D M Jenkins, the Chief Executive of the company amounting to £300 (2019: £15,000). The total amount of the loan across 2018 and 2020 financial years totals £26,800 of which £3,000 was paid back in 2018, £8,500 was paid back in 2019 and £15,300 was paid back in 2020. The rate of interest charged is 0%. At the balance sheet date, the loan was fully repaid.
## 12 **Defined contribution pension scheme**
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 employer's pension costs represent contributions payable by the charity to the fund and amount to £2,784 (2019: £1,656). There was £152 outstanding as at 31.12.2020 (2019: £0)
## 13 **Corporation Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.
16
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2020
|14 **Debtors and prepayments (receivable within 1 year)**
15
Cash at bank
Payroll holding account
16
17
**Cash at bank and in hand**
Debtors
Accruals
**Creditors and accruals (payable after more than 1 year)**
Long Term Loan
Deferred income
Leisurewatch Membership
Independent examination of accounts
Other accruals
**Creditors and accruals (payable within 1 year)**|**2020**
**£**
**43,261**
**43,261**
**2020**
**£**
**10,046**
**( 158 )**
**9,888**
**2020**
**£**
**996**
**1,134**
**48,352**
**50,482**
**2020**
**£**
**-**
**-**|2019
£|
|---|---|---|
|||51,342|
|||51,342|
|||2019
£|
|||3,248
40|
|||3,288|
|||2019
£|
|||948
1,905
54,723|
|||57,576|
|||2019
£|
|||15,000|
|||15,000|
## 18 **Deferred income**
Deferred income comprises of advance payments from grants that relate to future periods
|Balance carried forward
Balance brought forward
Amount deferred in year
Amount released to income earned from
charitable activities|**2020**
**£**|
|---|---|
||**54,723**
**( 54,723 )**
**48,352**|
||**48,352**|
17
## **THE DERWENT INITIATIVE**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2020
## 19 **Events after the end of the reporting period**
Due to the COVID-19 pandemic, it has put pressure on all businesses in 2020. It should be noted that the trade debtors will be received and that the creditors are being paid when the payments are falling due. With the deferred income being held for the purposes of future expenditure during 2021.
## 20 **Analysis of charitable funds**
## **Analysis of movements in unrestricted funds**
|**Unrestricted funds**
General unrestricted fund
**_Totals_**
**Purpose of unrestricted funds**
General unrestricted fund|**Fund**
**balances**
**brought**
**Incoming**
**Resources**
**forward**
**resources**
**expended**
£
£
£
( 17,946 )
93,721
( 73,108 )
(17,946)
93,721
(73,108)
The 'free reserves' of the charity|**Transfers**
£
-
-|**Fund**
**balances**
**carried**
**forward**
**£**|
|---|---|---|---|
||||**2,667**|
||||**2,667**|
|||||
## 21 **Capital commitments**
As at 31 December 2020, the charity had no capital commitments (2019 -£nil)
## 22 **Analysis of net assets between funds**
|**nalysis of net assets between funds**||||
|---|---|---|---|
|Long term assets/(liabilities)
Other net current assets/(liabilities)
Cash at bank and in hand|Unrestricted
Funds
£
9,888
( 7,221 )
-
2,667|**Total**
**2020**
**£**
**9,888**
**( 7,221 )**
**-**
**2,667**|Total
2019
£|
||||3,288
( 6,234 )
( 15,000 )|
||||(17,946)|
18