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REGISTERED COMPANY NUMBER: 06641980 (England and Wales) REGISTERED CHARITY NUMBER: 1127347
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2021
for The Gap (Sutton Coldfield)
Dalton Pardoe Limited Chartered Accountants 794 High Street Kingswinford West Midlands DY6 8BQ
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The Gap (Sutton Coldfield)
## Contents of the Financial Statements for the Year Ended 31 July 2021
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|---|---|---|---|---|---|
|Page|
|Report of the Trustees|1|to|2|
|Independent|Examiner's|Report|3|
|Statement of Financial|Activities|4|
|Balance Sheet|5|to|6|
|Notes|to the Financial|Statements|7|to|11|
|Detailed Statement of Financial|Activities|12|
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The Gap (Sutton Coldfield)
Report of the Trustees for the Year Ended 31 July 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2021. The trustees have adopted the provisions of 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 | January 2019),
## OBJECTIVES AND ACTIVITIES
## Objectives and aims
The charity seeks to demonstrate the Christian faith in action. It seeks to offer to marginalised young people, irrespective of circumstances or situation, the opportunities to improve their conditions of life and develop their skills and capabilities, to enable them to participate in society as mature and responsible adults and to demonstrate to them the positive difference a faith in Jesus Christ can bring to them.
## FINANCIAL REVIEW
## Financial Review
The charity received income amounting to £49,144 in the year under review (£52,758 : 2020). Expenditure totalled £50,826 for the year (£52,697 : 2020) resulting in a surplus of expenditure over income of £1,682 (surplus of income over expenditure of £61 : 2020)
Reserves brought forward as at Ist August 2020 totalled £32,292 and as a result the charity's total reserves carried forward at the balance sheet date totalled £30,610.
## Reserves policy
The trustees have established a policy whereby free reserves held by the charity should be maintained at £10,000. This is based on an estimate of four months average expenditure. General reserves carried forward at the balance sheet date were £14,208.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
## Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The policy and operating decisions of the charity rest with the Directors/Trustees who meet regularly to monitor the activities of the company. New Trustees are appointed by ordinary resolution of the members. The recommendations for appointments are based on the need for the charity to have an appropriate skill and experience to determine charity policies and to monitor implementation of them.
## Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06641980 (England and Wales)
Registered Charity number 1127347
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The Gap (Sutton Coldfield)
Report of[the][Trustees] for the Year Ended 31 July 2021
Registered office Our Place Community Hub Farthing Lane Sutton Coldfield West Midlands B72 IRN
Trustees
Mrs C Morphet Reverend J Mullin (resigned 31.1.22) R M Pearse J H Walker M J Walsh (deceased 22.10.21) D West-Mullen
Company Secretary R M Pearse
Independent Examiner Colin Dalton FCA Institute of Chartered Accountants in England and Wales Dalton Pardoe Limited Chartered Accountants 794 High Street Kingswinford West Midlands DY6 8BQ
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order ofthe board oftrustees on 21 April 2022 and signed on its behalf by:
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tes_—— re =
D West-Mullen - Trustee
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Independent Examiner's Report to the Trustees of The Gap (Sutton Coldfield)
Independent examiner's report to the trustees of The Gap (Sutton Coldfield) (‘the Company’) I report to the charity trustees on my examination ofthe accounts ofthe Company for the year ended 31 July 2021.
## Responsibilities and basis of report
As the charity's trustees of the Company (and also 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 Company 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 your charity's accounts as carried out givenunder bysectionthe Charity145 ofthe Commission Charities underAct 2011section(‘the145(5) 2011 (b)Act’).of theIn carrying2011 Act.out my examination I have followed the Directions
## Independent examiner's statement
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:
- I. accounting records were not kept in respect of theCompany as required by section 386 of the 2006 Act; or 2: the accounts do not accord with those records; or 35 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no 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.]
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an
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Colin Dalton FCA Institute of Chartered Accountants in England and Wales Dalton Pardoe Limited Chartered Accountants 794 High Street Kingswinford West Midlands DY6 8BQ
21 April 2022
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The Gap (Sutton Coldfield)
## Statement of Financial Activities for the Year Ended 31 July 2021
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|---|---|---|---|---|---|---|---|
|31.7.2]|31.7.20|
|Unrestricted|Restricted|Total|Total|
|Notes|fund£|funds£|funds£|funds£|
|INCOME AND ENDOWMENTS|FROM|
|Donations|and|legacies|43,142|6,000|49,142|§2,720|
|Investment|income|2|2|-|2|38|
|Total|43,144|6,000|49,144|52,758|
|EXPENDITURE ON|
|Raising|funds|4,959|-|4,959|5,942|
|Charitable|activities|
|- expenditure|36,584|9,307|45,891|46,755|
|Total|’|41,543|9,307|50,850|52,697|
|NET INCOME/(EXPENDITURE)|1,601|(3,307)|(1,706)|61|
|Transfers|between|funds|9|1,197|(1,197)|-|-|
|Net movement|in|funds|2,798|(4,504)|(1,706)|61|
|RECONCILIATION OF FUNDS|
|Total|funds brought|forward|11,386|20,906|32,292|32,231|
|TOTAL FUNDS CARRIED FORWARD|14,184|16,402|30,586|32,292|
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The notes form part of these financial statements
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The Gap (Sutton Coldfield)
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|---|---|---|---|---|---|---|---|
|Balance|Sheet|
|31|July|2021|
|31.7.21|31.7.20|
|Unrestricted|Restricted|Total|Total|
|Notes|fund|funds|funds|funds|
|FIXED|ASSETS|£|£|£|£|
|Tangible|assets|6|247|285|532|710|
|CURRENT ASSETS|
|Debtors|7|8,535|-|8,535|6,472|
|Cash at bank|6,336|16,117|22,453|25,960|
|14,871|16,117|30,988|32,432|
|CREDITORS|
|Amounts|falling due within|one year|8|(934)|-|(934)|(850)|
|NET CURRENT ASSETS|13,937|16,117|30,054|31,582|
|TOTAL ASSETS|LESS CURRENT|
|LIABILITIES|14,184|16,402|30,586|32,292|
|NET ASSETS|14,184|16,402|30,586|32,292|
|FUNDS|9|
|Unrestricted|funds|14,184|11,386|
|Restricted|funds|16,402|20,906|
|TOTAL FUNDS|30,586|32,292|
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) —_ preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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The Gap (Sutton Coldfield)
Balance Sheet - continued 31 July 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 21 April 2022 and were signed on its behalf by:
R M Pearse - Trustee
The notes form part of these financial statements
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The Gap (Sutton Coldfield)
Notes to the Financial Statements for the Year Ended 31 July 2021
1. ACCOUNTING POLICIES
## Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Taxation The charity is exempt from corporation tax on its charitable activities.
## Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2.
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|---|---|---|
|INVESTMENT INCOME|
|Deposit|account|interest|
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31.7.21 31.7.20
£ 2 £ 38
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The Gap (Sutton Coldfield)
Notes to the Financia] Statements - continued for the Year Ended 31 July 2021
3. NET INCOME/(EXPENDITURE)
## Net income/(expenditure) is stated after charging/(crediting):
## Depreciation - owned assets
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|||
|---|---|
|31.7.21|31.7.20|
|£|£|
|178|237|
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4, TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020.
## Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 July 2021 nor for the year ended 31! July 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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||||||
|---|---|---|---|---|
|Unrestricted|Restricted|Total|
|fund|funds|funds|
|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and|legacies|38,046|14,674|$2,720|
|Investment income|38|-|38|
|Total|38,084|14,674|52,758|
|EXPENDITURE ON|
|Raising funds|5,942|-|5,942|
|Charitable|activities|
|- expenditure|34,174|12,581|46,755|
|Total|40,116|12,581|52,697|
|NET INCOMEAEXPENDITURE)|(2,032)|2,093|61|
|RECONCILIATION OF|FUNDS|
|Total funds brought forward|13,418|18,813|32,231|
|TOTAL FUNDS CARRIED FORWARD|11,386|20,906|32,292|
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The Gap (Sutton Coldficld)
Notes to the Financial Statements - continued for the Year Ended 31 July 2021
6. TANGIBLE FIXED ASSETS
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|||||||
|---|---|---|---|---|---|
|Fixtures|
|and|
|fittings|
|£|
|COST|
|At|||August 2020|and 31|July 2021|2,905|
|DEPRECIATION|
|At|||August 2020|2,195|
|Charge|for year|178|
|At 31|July 2021|2,373|
|NET BOOK VALUE|
|At 31|July 2021|§32|
|At|31|July 2020|710|
|7.|DEBTORS:|AMOUNTS|FALLING|DUE WITHIN ONE|YEAR|
|31.7.21|31.7.20|
|£|£|
|Other debtors|8,535|6,472|
|8.|CREDITORS: AMOUNTS FALLING|DUE WITHIN ONE|YEAR|
|31.7.21|31.7.20|
|Social|£|£|
|security and other taxes|310|250|
|Accrued expenses|624|600|
|934|850|
|9.|MOVEMENT|IN FUNDS|
|Net|Transfers|
|At|movement|between|At|
|1.8.20|in|funds|funds|31.7.21|
|Unrestricted|funds|£|£|£|£|
|General|fund|11,386|1,601|1,197|14,184|
|Restricted|funds|
|Headspace|Project|19,709|(3,307)|-|16,402|
|AdaptED|Project|1,197|-|(1,197)|-|
|20,906|(3,307)|(1,197)|16,402|
|TOTAL FUNDS|32,292|(1,706)|-|30,586|
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The Gap (Sutton Coldfield)
Notes to the Financial Statements - continued for the Year Ended 31 July 2021
9, MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows:
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|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|43,144|(41,543)|1,601|
|Restricted|funds|
|Headspace Project|4,000|(7,307)|(3,307)|
|Youth|Worker|2,000|(2,000)|-|
|6,000|(9,307)|(3,307)|
|TOTAL FUNDS|49,144|(50,850)|(1,706)|
|Comparatives|for movement|in|funds|
|Net|Transfers|
|movement|between|At|
|At|1.8.19|in|funds|funds|31.7.20|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|13,418|(2,032)|-|11,386|
|Restricted|funds|
|Headspace|Project|14,873|2,301|2,535|19,709|
|AdaptED|Project|1,197|-|-|1,197|
|Youth|Worker|208|(208)|-|-|
|Anna Freud|2,535|-|(2,535)|-|
|18,813|2,093|-|20,906|
|TOTAL FUNDS|32,231|61|-|32,292|
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The Gap (Sutton Coldfield)
## Notes to the Financial Statements - continued for the Year Ended 31 July 2021
## 9. MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
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|||||
|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General fund|38,084|(40,116)|(2,032)|
|Restricted|funds|
|Headspace Project|14,674|(12,373)|2,301|
|Youth Worker|-|(208)|(208)|
|14,674|(12,581)|2,093|
|TOTAL FUNDS|52,758|(52,697)|61|
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## 10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2021.
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The Gap (Sutton Coldfield)
## Detailed Statement of Financial Activities for the Year Ended 31 July 2021
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|---|---|---|---|---|---|---|
|31.7.21|31.7.20|
|£|£|
|INCOME AND ENDOWMENTS|
|Donations and|legacies|
|Donations and|gifts|23,679|29,315|
|Income|tax recovered|2,063|2,109|
|Grants|23,400|20,450|
|Donated goods|and|facilities|-|846|
|49,142|52,720|
|investment|income|
|Deposit account|interest|2|38|
|Total|incoming|resources|49,144|52,758|
|EXPENDITURE|
|Raising donations|and|legacies|
|Staging|fundraising events|-|1,186|
|Fundraising agents|4,959|4,756|
|4,959|5,942|
|Charitable|activities|
|Wages|36,993|39,096|
|Office rent|3,432|3,156|
|Venue running costs|545|709|
|Volunteer costs and expenses|1,548|514|
|Phones and|IT|984|977|
|Administration and other|1,588|1,466|
|Depreciation|of|tangible|fixed|assets|177|237|
|45,267|46,155|
|Support|costs|
|Governance|casts|
|Independent examination|624|600|
|Total resources|expended|50,850|52,697|
|Net (expenditure)/income|(1,706)|6l|
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This page does not form part of the statutory financial statements
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