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2021-03-31-accounts

Company registration number: 05171367 Charity registration number: 1127490

Queenborough Town Community Centre Limited

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2021

Mack Business Services Ltd Office 2 Tweed House Park Lane Swanley BR8 8DT

Queenborough Town Community Centre Limited

Contents

Reference and Administrative Details 1
Strategic Report 2
Trustees' Report 3 to 6
Statement of Trustees' Responsibilities 7
Independent Examiner's Report 8
Statement of Financial Activities 9 to 10
Balance Sheet 11 to 12
Notes to the Financial Statements 13 to 22

Queenborough Town Community Centre Limited

Reference and Administrative Details

Trustees K Friday R Butcher J Penman J Cain P Murray S Bale T Meaning Principal Office 44 High Street Queenborough ME11 5AA The charity is incorporated in England. Company Registration Number 05171367 Charity Registration Number 1127490 Independent Examiner Mack Business Services Ltd Office 2 Tweed House Park Lane Swanley BR8 8DT

Page 1

Queenborough Town Community Centre Limited

Strategic Report for the Year Ended 31 March 2021

The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 March 2021, in compliance with s414C of the Companies Act 2006.

Principal risks and uncertainties

Fraud and error

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.

The systems and procedures have been establised and are reviewed on an ongoing basis.

The strategic report was approved by the trustees of the charity on 28 September 2021 and signed on its behalf by:

......................................... R Butcher Trustee

Page 2

Queenborough Town Community Centre Limited

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2021.

Objectives and activities

Objects and aims

The charity's main objective is for the benefit of the town of Queenborough.

The charity's main aims are:

  1. the provision of facilities for education, support, recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants; and

  2. to promote the advancement of education and learning, including training in employment skills, for the benefit of the inhabitants of the said area.

Page 3

Queenborough Town Community Centre Limited

Trustees' Report

Objectives, strategies and activities

The chariy operates Castle Connections, a community and arts centre in Queenborough. The centre is open seven days a week and the following are some of the actvities the centre provides:

  1. Community Cafe: offers a full range of snacks and drinks, together with children's tuck shop menu. There is a full range of buffet menus for special occasions and meetings, and a range of course around cookery and healthy eating.

  2. Top Hall: a dance and drama room with sprung wooden fllor for all types of dancing, a space for theatre, concerts and play productions - offering classes from ballet to musical theatre.

  3. Bottom Hall: a place of quality decor, excellent for parties, exhibitions and as a dining room.

  4. Arts and Crafts Room: a well equipped room for a full range of arts and crafts subjects, including facilities for pottery with a well established kiln.

The charity continues to support all sections of the community of Queenborough and the surrounding area, promoting facilities for education, social welfare, art and creativity, recreation and leisure and mental health. Provision is available for disadvantaged members of the community and public at large, in the interest of improving the social mobility and advancing well being for all. An open-door policy is in operatin at all times. Residents are welcome for company, advice and activities.

Trustees' expectations are that every visitor is greeted with a smile and enjoys a warm atmosphere and staff are encouraged to keep a caring eye on vunerable users.

With an emphasis on creating a more secure foundation, plans for the future include:

  1. Extending community involvement, by offering more classes and activities;

  2. To strengthen the effectiveness of the HR committee and relationships with staff to ensure the needs of the business are met and

all staff are performing to the expected Charity Commission standards;

  1. Regular training for the team of Trustees, advertising positions to ensure a fully operational Board;

  2. Building stronger links with our community partners, seeking ways to work collaboratively with other local charities;

  3. Exploring funding opportunities to support the work of staff and volunteers and;

  4. Bukld up our financial reserve and become more self-sustaining, supported by funding bids for projects.

Public benefit

The Trustees have provided a fully accessible centre and have sought to conduct themselves with all expected Charity Commission guidelines.

Over this twelve month period the Board has needed to make decisions in line with Government Covid 19 response, the Board were fully compliant with all regulations and make every decision with the highest protection of the staff services users in mind. For most of the year the centre has either been fully or partially closed to the public and staff have been furloughed. Connections with service users has been maintained remotely.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 4

Queenborough Town Community Centre Limited

Trustees' Report

Social investment policies

Unable to grow the centre, the Board has given their focus to continue re-energising the fabric of the Charity, and securing funding, through reviews of the buildings and administration systems.

There has been a review of the financial position of the charity. Using the foundational work done over recent years the Board has continued to closely monitor financial analysis of its performance. During the unprecedented times of Covid 19 the Board managed to secure funding to enable the charity to survive and retain staff.

Structure, governance and management

Nature of governing document

The charity is a limited company, limited by guarantee as defined by the Companies Act 2006, controlled by its memorandum and articles of association with which it was incorporated on 6 July 2004 as amended by Special Resolutions on 11 October 2008 and 17 February 2017.

Recruitment and appointment of trustees

The charity is required by its Articles of Association to have not less than three or no more than nine trustees, who collectively are called the Council of Management and manage the business of the charity.

At each Annual General Meeting one third of the trustees retire by rotation.

The charity's Articles of Association require that a proposed new trustee may be nominated by the existing Council of Management or by a memeber giving them notice in writing of their intention to propose a person, together with a notice in writing signed by the person to be proposed of their willingness to be elected.

Major risks and management of those risks

Fraud and error

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.

The systems and procedures have been establised and are reviewed on an ongoing basis.

Financial instruments

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Page 5

Queenborough Town Community Centre Limited

Trustees' Report

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

The annual report was approved by the trustees of the charity on 28 September 2021 and signed on its behalf by:

......................................... R Butcher Trustee

Page 6

Queenborough Town Community Centre Limited

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Queenborough Town Community Centre Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. 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 charitable company 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:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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 trustees of the charity on 28 September 2021 and signed on its behalf by:

......................................... R Butcher Trustee

Page 7

Queenborough Town Community Centre Limited

Independent Examiner's Report to the trustees of Queenborough Town Community Centre Limited

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 9 to 22.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Queenborough Town Community Centre Limited (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 Queenborough Town Community Centre Limited 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:

  1. accounting records were not kept in respect of Queenborough Town Community Centre Limited 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

  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.

...................................... Andrew Grant ACA

Office 2 Tweed House Park Lane Swanley BR8 8DT

28 September 2021

Page 8

Queenborough Town Community Centre Limited

Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21
Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21		 Unrestricted
funds
£
50,373
6,064
3
56,440
(1,370)
(19,632)
(21,002)
35,438
35,438
(9,175)
26,263
Unrestricted
funds
£
2,214
51,339
6,799
6
60,358
(10,258)
(47,969)
(58,227)
2,131
2,131
(11,306)
(9,175)		 Unrestricted
funds
£
50,373
6,064
3		 Restricted
funds
£
27,931
-
-		 Total
2021
£
78,304
6,064
3
56,440 27,931 84,371
(1,370)
(19,632)		 (16,314)
-		 (17,684)
(19,632)
(21,002) (16,314) (37,316)
35,438 11,617 47,055
35,438
(9,175)		 11,617
211,719		 47,055
202,544
26,263 223,336 249,599
Restricted
funds
£
-
-
-
-
-
(16,314)
-
(16,314)
(16,314)
(16,314)
228,033
211,719		 Total
2020
£
2,214
51,339
6,799
6
60,358
(26,572)
(47,969)
(74,541)
(14,183)
(14,183)
216,727
202,544

The notes on pages 13 to 22 form an integral part of these financial statements. Page 9

Queenborough Town Community Centre Limited

Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 21.

The notes on pages 13 to 22 form an integral part of these financial statements. Page 10

Queenborough Town Community Centre Limited

(Registration number: 05171367) Balance Sheet as at 31 March 2021

Note
Fixed assets
Tangible assets
15
Current assets
Stocks
16
Debtors
17
Cash at bank and in hand
18
Creditors: Amounts falling due within one year
19
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
20
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
21		 2021
£
200,425
870
1,100
50,187
52,157
(2,983)
49,174
249,599
-
249,599
223,336
26,263
249,599		 2020
£
217,520
813
2,747
6,600
10,160
(21,221)
(11,061)
206,459
(3,915)
202,544
211,719
(9,175)
202,544

For the financial year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The notes on pages 13 to 22 form an integral part of these financial statements. Page 11

Queenborough Town Community Centre Limited

(Registration number: 05171367) Balance Sheet as at 31 March 2021

The financial statements on pages 9 to 22 were approved by the trustees, and authorised for issue on 28 September 2021 and signed on their behalf by:

......................................... R Butcher Trustee

The notes on pages 13 to 22 form an integral part of these financial statements. Page 12

Queenborough Town Community Centre Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

1 Charity status

The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.

The address of its registered office is: 44 High Street Queenborough ME11 5AA

These financial statements were authorised for issue by the trustees on 28 September 2021.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements 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). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Queenborough Town Community Centre Limited 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 notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

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 the income receivable can be measured reliably.

Page 13

Queenborough Town Community Centre Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Page 14

Queenborough Town Community Centre Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 15

Queenborough Town Community Centre Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

3 Income from donations and legacies

Donations and legacies;
Donations from companies, trusts and similar
proceeds
Donations from individuals
Grants, including capital grants;
Government grants
Total for 2021
Total for 2020		 Unrestricted
funds
General
£
-
14,965
23,984
38,949
2,214		 Restricted
funds
£
27,431
-
500
27,931
-		 Total
funds
£
27,431
14,965
24,484
66,880
2,214
Total for 2021
Total for 2020		 Unrestricted
funds
General
£
6,064
6,064
51,339		 Total
funds
£
6,064
6,064
51,339

Page 16

Queenborough Town Community Centre Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

5 Income from other trading activities

Total for 2021
Total for 2020
6
Investment income
Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2021
Total for 2020		 Unrestricted
funds
General
£
-
6,799
Unrestricted
funds
General
£
3
3
6		 Total
funds
£
-
6,799
Total
funds
£
3
3
6

7 Expenditure on raising funds

a) Costs of generating donations and legacies

b) Costs of trading activities
Note
Costs of goods sold
Depreciation, amortisation and other similar
costs
Total for 2021
Total for 2020		 Unrestricted
funds
General
£
131
781
912
10,070		 Note
Restricted
funds
£
-
16,314
16,314
16,314		 Total
funds
£
Total
funds
£
131
17,095
17,226
26,384

Page 17

Queenborough Town Community Centre Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

Total costs £

8
Expenditure on charitable activities
Note
Governance costs
9
Total for 2020		 Unrestricted
funds
General
£
19,632
47,969		 Total
funds
£
19,632
47,969
Total
expenditure
£

In addition to the expenditure analysed above, there are also governance costs of £19,632 (2020 - £47,969) which relate directly to charitable activities. See note 9 for further details.

9 Analysis of governance and support costs

Governance costs

Staff costs
Wages and salaries
Legal fees
Depreciation, amortisation and other similar costs
Other governance costs
Total for 2021
Total for 2020		 Unrestricted
funds
General
£
5,151
2,166
(345)
10,313
17,285
47,969		 Total
funds
£
5,151
2,166
(345)
10,313
17,285
47,969

Page 18

Queenborough Town Community Centre Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

10 Net incoming/outgoing resources

Net incoming/(outgoing) resources for the year include:

Loss on disposal of fixed assets held for the charity's own use
Depreciation of fixed assets
11 Trustees remuneration and expenses
12 Staff costs
The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
No employee received emoluments of more than £60,000 during the year.
13 Independent examiner's remuneration
Other fees to examiners
The examining of accounts of any associate of the charity		 2021
£
(345)
17,095
2021
£
5,151
2021
£
2,347		 2020
£
-
17,257
2020
£
27,223
2020
£
2,604

Page 19

Queenborough Town Community Centre Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

14 Taxation

The charity is a registered charity and is therefore exempt from taxation.

15 Tangible fixed assets

Cost
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		 Land and
buildings
£
383,602
383,602
166,781
16,678
183,459
200,143
216,821		 Furniture and
equipment
£
7,941
7,941
7,242
417
7,659
282
699		 Total
£
391,543
391,543
174,023
17,095
191,118
200,425
217,520

Included within the net book value of land and buildings above is £Nil (2020 - £Nil) in respect of freehold land and buildings and £200,143 (2020 - £216,821) in respect of leaseholds.

16 Stock

16 Stock
Stocks
17 Debtors
Trade debtors
Prepayments
18 Cash and cash equivalents
Cash on hand
Cash at bank
Page 20		 2021
£
870
2021
£
1,100
-
1,100
2021
£
96
50,091
50,187		 2020
£
813
2020
£
2,501
246
2,747
2020
£
129
6,471
6,600

Queenborough Town Community Centre Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

19 Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals
20 Creditors: amounts falling due after one year
Other creditors
21 Funds
Balance at 1
April 2020
£
Unrestricted funds
General
(9,175)
Restricted funds
211,719
Total funds
202,544
Balance at 1
April 2019
£
Unrestricted funds
General
(11,306)
Restricted funds
228,033
Total funds
216,727		 Incoming
resources
£
56,440
27,931
84,371
Incoming
resources
£
60,358
-
60,358		 2021
£
-
10
501
2,472
2,983
2021
£
-
Resources
expended
£
(21,002)
(16,314)
(37,316)
Resources
expended
£
(58,227)
(16,314)
(74,541)		 2020
£
530
(175)
18,394
2,472
21,221
2020
£
3,915
Balance at 31
March 2021
£
26,263
223,336
249,599
Balance at 31
March 2020
£
(9,175)
211,719
202,544

22 Analysis of net assets between funds

Page 21

Queenborough Town Community Centre Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets		 Unrestricted
funds
General
£
200,425
52,157
(2,983)
249,599
Unrestricted
funds
General
£
217,520
10,160
(21,221)
(3,915)
202,544		 Total funds at
31 March
2021
£
200,425
52,157
(2,983)
249,599
Total funds at
31 March
2020
£
217,520
10,160
(21,221)
(3,915)
202,544
23 Analysis of net funds
Cash at bank and in hand
Net debt
Net debt		 At 1 April
2020
£
6,600
6,600		 Financing cash
flows
£
(6,600)
(6,600)
At 1 April
2019
£
-		 At 31 March
2021
£
-
-
At 31 March
2020
£
-

Page 22

Queenborough Town Community Centre Limited

Statement of Financial Activities by fund for the Year Ended 31 March 2021

Unrestricted Funds

Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
Funds
2021
£
50,373
6,064
-
3
56,440
(1,370)
(19,632)
(21,002)
35,438
35,438
(9,175)
26,263		 Total
Unrestricted
Funds
2020
£
2,214
51,339
6,799
6
60,358
(10,258)
(47,969)
(58,227)
2,131
2,131
(11,306)
(9,175)

This page does not form part of the statutory financial statements. Page 23

Queenborough Town Community Centre Limited

Statement of Financial Activities by fund for the Year Ended 31 March 2021

Restricted Funds

Restricted Funds
Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Raising funds
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Restricted
Funds
2021
£
27,931
27,931
(16,314)
(16,314)
11,617
11,617
211,719
223,336		 Total
Restricted
Funds
2020
£
-
-
(16,314)
(16,314)
(16,314)
(16,314)
228,033
211,719

This page does not form part of the statutory financial statements. Page 24

Queenborough Town Community Centre Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

Income and Endowments from:
Donations and legacies (analysed below)
Charitable activities (analysed below)
Other trading activities (analysed below)
Investment income (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2021
£
78,304
6,064
-
3
84,371
(17,684)
(19,632)
(37,316)
47,055
47,055
202,544
249,599		 Total
2020
£
2,214
51,339
6,799
6
60,358
(26,572)
(47,969)
(74,541)
(14,183)
(14,183)
216,727
202,544

This page does not form part of the statutory financial statements. Page 25

Queenborough Town Community Centre Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

Donations and legacies
Legacies and bequests
Appeals and donations
Trusts and foundations
Trusts and foundations
UK Government grants
UK Government grants
Charitable activities
Primary purpose trading
Other trading activities
Concerts
Investment income
Interest on cash deposits
Raising funds
Fundraising costs
Purchases
Depreciation of short leasehold
Depreciation of short leasehold
Depreciation of fixtures and fittings
Charitable activities
Wages and salaries
Rent and rates
Light, heat and power
Insurance
Repairs and renewals
Telephone and fax
Office expenses
Printing, postage and stationery
Trade subscriptions
Sundry expenses
Cleaning		 Total
2021
£
-
14,965
11,424
27,431
23,984
500
78,304
6,064
6,064
-
-
3
3
(458)
(131)
(364)
(16,314)
(417)
(17,684)
(5,151)
(1,290)
(2,318)
(862)
(2,060)
(375)
(177)
(367)
(450)
(1,453)
(961)		 Total
2020
£
2,214
-
-
-
-
-
2,214
51,339
51,339
6,799
6,799
6
6
(188)
(9,127)
(364)
(16,314)
(579)
(26,572)
(27,223)
(1,917)
(3,204)
(807)
(5,373)
(765)
(1,163)
(197)
(3,784)
(24)
(908)

This page does not form part of the statutory financial statements. Page 26

Queenborough Town Community Centre Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

Independent examiner's fee
Legal and professional fees
(Profit)/loss on sale of tangible fixed assets held for charity's own use		 Total
2021
£
(2,347)
(2,166)
345
(19,632)		 Total
2020
£
(2,604)
-
-
(47,969)

This page does not form part of the statutory financial statements. Page 27