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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 2022
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 2022
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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 ll
Detailed Statement of Financial Activities 12
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The Gap (Sutton Coldfield)
Report of the Trustees for the Year Ended 31 July 2022
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 2022. 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 1 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 £60,742 in the year under review (£49,144 : 2021). Expenditure totalled £67,125 for the year under review (£50,850 : 2021) resulting in an overall deficit of £6,383 (Deficit of £1,706 : 2021)
Reserves brought forward as at Ist August 2021 totalled £30,586 and as a result the charity's total reserves carried forward at the balance sheet date fell to £24,203. Unrestricted reserves fell from £14,184 to £7,212 over the year under review.
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
Registered office Our Place Community Hub Farthing Lane Sutton Coldfield West Midlands B72 IRN
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The Gap (Sutton Coldfield)
Report of the Trustees for the Year Ended 31 July 2022
Trustees
Mrs C Morphet
Reverend J Mullin (resigned 3 1.1.22) R M Pearse
JH Walker
M J Walsh (deceased 22.10.21)
D West-Mullen
D S Hodkinson (appointed 5.4.22)
P Palser (appointed 5.4.22)
Mrs R L Warren (appointed 5.4.22) (resigned 5.12.22)
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 of trustees on 41/3/2223... and signed on its behalf by: Larip— % < Wana eee ssesesaeasacsoens —e
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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 of the accounts of the Company for the year ended 31 July 2022.
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 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
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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
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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 concems 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.
<a 7 eee Colin Dalton FCA Institute of Chartered Accountants in England and Wales Dalton Pardoe Limited Chartered Accountants 794 High Street Kingswinford West Midlands DY6 8BQ Date: seeeeunsben 3 202
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The Gap (Sutton Coldfield)
Statement of Financial Activities for the Year Ended 31 July 2022
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|---|---|---|---|---|---|---|
|31.7.22|31.7.21|
|Unrestricted|Restricted|Total|Total|
|fund|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND|ENDOWMENTS FROM|
|Donations|and|legacies|35,733|24,999|60,732|49,142|
|Investment|income|2|10|-|10|2|
|Total|35,743|24,999|60,742|49,144|
|EXPENDITURE|ON|
|Raising|funds|5,296|-|5,296|4,959|
|Charitable|activities|
|-|expenditure|37,419|24,410|61,829|45,891|
|Total|42,715|24,410|67,125|$0,850|
|NET INCOMEAEXPENDITURE)|(6,972)|589|(6,383)|(1,706)|
|RECONCILIATION OF FUNDS|
|Total funds brought forward|14,184|16,402|30,586|32,292|
|TOTAL FUNDS CARRIED FORWARD|7,212|16,991|24,203|30,586|
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The notes form part of these financial statements
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The Gap (Sutton Coldfield)
Balance Sheet 31 July 2022
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|---|---|---|---|---|---|---|
|31.7.22|31.7.21|
|Unrestricted|Restricted|Total|Total|
|Notes|fund£|funds£|funds£|funds£|
|FIXED ASSETS|
|Tangible|assets|7|2,091|214|2,305|532|
|CURRENT|ASSETS|
|Debtors|8|2,356|-|2,356|8,535|
|Cash at bank and|in hand|4,721|16,778|21,499|22,453|
|7,077|16,778|23,855|30,988|
|CREDITORS|
|Amounts|falling due within one year|9|(1,956)|(1)|(1,957)|(934)|
|NET CURRENT ASSETS|5,121|16,777|21,898|30,054|
|TOTAL ASSETS|LESS CURRENT|
|LIABILITIES|7,212|16,991|24,203|30,586|
|NET ASSETS|7,212|16,991|24,203|30,586|
|FUNDS|10|
|Unrestricted|funds|7,212|14,184|
|Restricted|funds|16,991|16,402|
|TOTAL FUNDS|24,203|30,586|
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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 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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 2022
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 ALB [2223 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 2022
I. 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.
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2. INVESTMENT INCOME
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31.7.22 31.7.21
£ £
Deposit account interest 10 2
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The Gap (Sutton Coldfield)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
- NET INCOMEKEXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
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|---|---|---|---|---|
|31.7.22|31.7.21|
|£|£|
|Depreciation|- owned|assets|767|178|
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TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021.
Trustees' expenses
There were no trustees’ expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021.
- STAFF COSTS
The average monthly number of employees during the year was as follows:
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|---|---|---|---|---|---|
|Administration|31.7.223|31.7.213|
|No employees|received emoluments|in|excess of|£60,000.|
|6.|COMPARATIVES|FOR THE STATEMENT OF FINANCIAL ACTIVITIES|
|Unrestricted|Restricted|Total|
|fund|funds|funds|
|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations|and|legacies|43,142|6,000|49,142|
|Investment income|2|-|2|
|Total|43,144|6,000|49,144|
|EXPENDITURE ON|
|Raising|funds|4,959|-|4,959|
|Charitable|activities|
|- expenditure|36,584|9,307|45,891|
|Total|41,543|9,307|50,850|
|NET INCOME(EXPENDITURE)|1,601|(3,307)|(1,706)|
|Transfers between funds|1,197|(1,197)|-|
|Net movement|in funds|2,798|(4,504)|(1,706)|
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The Gap (Sutton Coldfield)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
| 6. | COMPARATIVES FOR THESTATEMENTOFFINANCIALACTIVITIES | ACTIVITIES - | continued | |
|---|---|---|---|---|
| Unrestricted fund |
Restricted funds |
Total funds |
||
| £ | £ | £ | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 11,386 | 20,906 | 32,292 | |
| TOTALFUNDSCARRIEDFORWARD | 14,184 | 16,402 | 30,586 | |
| 7, | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| and fittings |
Computer equipment |
Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At | August 2021 Additions |
2,905 180 |
- 2,360 |
|
| At31 July2022 | 3,085 | 2,360 | 5,445 | |
| DEPRECIATION | ||||
| At 1 August2021 Charge foryear |
2,373 177 |
- 590 |
2,373 767 |
|
| At31 July2022 | 2,550 | 590 | 3,140 | |
| NET BOOKVALUE | ||||
| At31 July2022 | §35 | 1,770 | 2,305 | |
| At31 July2021 | 532 | - | 532 | |
| 8. | DEBTORS: AMOUNTS FALLING DUEWITHINONEYEAR | |||
| 31.7.22 | 31.7.21 | |||
| £ | £ | |||
| Trade debtors | 255 | - | ||
| Otherdebtors | 2,101 | 8,535 | ||
| 2,356 | 8,535 |
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The Gap (Sutton Coldfield)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
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|9.|CREDITORS:|AMOUNTS|FALLING|DUE WITHIN ONE|YEAR|
|31.7.22|31.7.21|
|£|£|
|Trade|creditors|246|:|
|Social|security|and|other taxes|648|310|
|Other|creditors|415|-|
|Accrued expenses|648|624|
|1,957|934|
|10.|MOVEMENT|IN FUNDS|
|Net|
|movement|At|
|At|1.8.21|in|funds|31.7.22|
|£|£|£|
|Unrestricted|funds|
|General|fund|14,184|(6,972)|7,212|
|Restricted|funds|
|Headspace|Project|16,402|(9,411)|6,991|
|Youth Worker|-|10,000|10,000|
|16,402|589|16,991|
|TOTAL FUNDS|30,586|(6,383)|24,203|
|Net movement|in|funds,|included|in the above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|35,743|(42,715)|(6,972)|
|HeadspaceRestricted|Projectfunds|;|7,999|(17,410)|(9,411)|
|Youth|Worker|17,000|(7,000)|10,000|
|24,999|(24,410)|589|
|TOTAL FUNDS|60,742|(67,125)|(6,383)|
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The Gap (Sutton Coldfield)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
- MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
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|---|---|---|---|---|---|---|---|---|
|Net|Transfers|
|movement|between|At|
|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|
|Comparative|net movement|in|funds,|included|in the above|are|as|follows:|
|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)|
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Il. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2022.
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The Gap (Sutton Coldfield)
Detailed Statement of Financial Activities for the Year Ended 31 July 2022
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|---|---|---|---|---|---|---|
|31.7.22|31.7.21|
|£|£|
|INCOME AND ENDOWMENTS|
|Donations and|legacies|
|Donations and|gifts|51,006|23,679|
|Income tax recovered|2,192|2,063|
|Grants|7,494|23,400|
|Donated|goods|and|facilities|40|-|
|60,732|49,142|
|Investment|income|
|Deposit|account|interest|10|2|
|Total incoming resources|60,742|49,144|
|EXPENDITURE|
|Raising donations and|legacies|
|Fundraising|agents|5,296|4,959|
|Charitable|activities|
|Wages|46,849|36,993|
|Office|rent|5,512|3,432|
|Venue running costs|547|545|
|Volunteer costs and expenses|1,719|1,548|
|Phones|and IT|1,126|984|
|Administration and other|4,660|1,588|
|Depreciation|of|tangible|fixed|assets|768|177|
|61,181|45,267|
|Support|costs|
|Governance|costs|
|Independent examination|648|624|
|Total|resources expended|67,125|50,850|
|Net expenditure|(6,383)|(1,706)|
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This page does not form part of the statutory financial statements
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