Company Registration Number: 07180982 Charity Registration Number: 1135126
The Wm Morrison Darlington Enterprise Trust Financial Statements For the Year Ending 31 March 2022
ALLEN SYKES LTD
Chartered Accountants & statutory auditor
5 Henson Close South Church Enterprise Park Bishop Auckland County Durham DL14 6WA
The Wm Morrison Darlington Enterprise Trust
Financial Statements
Year Ended 31 March 2022
| Page | |
|---|---|
| Trustees' Annual Report (Incorporating the Director's Report) | 1 |
| Independent Auditor's Report to the Members | 11 |
| Statement of Financial Activities (Including Income and Expenditure Account) | 17 |
| Statement of Financial Position | 18 |
| Statement of Cash Flows | 19 |
| Notes to the Financial Statements | 20 |
| The Following Pages Do Not Form Part of the Financial Statements | |
| Detailed Statement of Financial Activities | 36 |
The Wm Morrison Darlington Enterprise Trust
Trustees' Annual Report (Incorporating the Director's Report)
Year Ended 31 March 2022
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2022.
Objectives and Activities
Objects of the Trust
The objects of the Trust are:
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the relief of poverty among all members of the community but in particular members who are unemployed or are at risk of being unemployed or those less able than others to care for themselves.
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the general advancement of the education of the public including in particular (though without prejudice to the generality of the foregoing words) the fostering and promotion of teaching and training in the skills of business management particularly in relation to small businesses among persons whose economic circumstances would be alleviated or improved by the acquisition of such skills.
Objectives of the year
The key objectives of the year were to secure funding to enable the Trust to deliver identified projects to support priority target groups, which are: people who live in disadvantaged areas; those who are on health related benefits; disabled people; those experiencing homelessness; young people.
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The Wm Morrison Darlington Enterprise Trust
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Achievements and Performance
National Lottery Community Fund
Grant funding from The National Lottery Community Fund was secured to deliver a 12 month project (Morrison Trust into Work). The project involved the delivery of a personal development, training and employment support programme for Darlington residents who have become unemployed or, are experiencing unemployment, during and beyond the current COVID pandemic. Key targets for the project were:
50 beneficiaries will address barriers and develop skills to progress them towards employment (at the end of March 2022: 36)
50 beneficiaries will have regular one-to-one intensive employment support(at the end of March 2022: 36)
25 beneficiaries will attend multiple small group training sessions to develop their personal / employability skills (at the end of March 2022: 7)
15 beneficiaries will attend external training and/ or achieve vocational licences / certification (at the end of March 2022: 24
25 beneficiaries will fast-track into current vacancies
(at the end of March 2022: 13)
Youth Employment Initiative (YEI)
A contract to deliver as a partner organisation in the Youth Employment Initiative 'Tees Valley Pathways' programme was secured, starting delivery in April 2016. The programme is co-ordinated by Hartlepool Borough Council and was to originally operate across the Tees Valley between April 2016 and July 2018, however the programme was extended until July 2023. The Tees Valley Pathways Programme is part-funded by the European Social Fund and supported under the Youth Employment Initiative. The programme aims to support young people across the Tees Valley aged 15-29 who are unemployed and / or not in education, employment or training. Morrison Trust is part of a partnership of organisations delivering services across the Tees Valley. The programme includes a range of outcomes, with a target of providing support for 266 beneficiaries; at the end of March 2022, 235 beneficiaries have been supported.
Step Forward Tees Valley (SFTV)
A contract to deliver as a partner organisation in the Step Forward Tees Valley programme was secured, starting delivery in October 2016. The programme operates across the Tees Valley and support is primarily given to people who are long-term unemployed, facing two or more barriers. Step Forward Tees Valley is funded by the European Social Fund and The National Lottery Community Fund. HumanKind are co-ordinating the programme and working in partnership with voluntary and community sector organisations.
Morrison Trust employs an Employment Consultant to provide support to beneficiaries. As at the end of March 2022, 433 participants have been supported with a range of personal development and employability skills provision.
Sport England
Grant funding was received from Sport England's Tackling Inactivity and Economic Disadvantage programme (TIED). The funding is aimed at supporting people in low socio-economic groups to get active and was awarded to projects delivering in disadvantaged communities around the country. Morrison Trust is working in partnership with another charity, Active Life Foundation, to provide activities in target communities across Darlington through the 'Step Out' project. The two year project started in October 2018 but delivery was paused due to Covid-19 restrictions. The programme includes a range of outcomes, with a target of providing support for 300 participants; at the end of March 2022, 293 participants have been supported.
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The Wm Morrison Darlington Enterprise Trust
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
The Henry Smith Charity
Funding was secured from The Henry Smith Charity, for a three year programme ('Choices') to support people to address barriers to employment, to increase self-confidence, improve employability skills and move towards employment. The Choices project started in July 2021 and to the end of March 2022, the project has supported 56 individuals, with 12 moving into employment.
Community Foundation serving Tyne & Wear and Northumberland
Funding was secured through the Growth and Resilience fund for development of a communications and engagement strategy, website and social media development and branding identity development. At the end of March 2022, an action plan is in place to undertake this work during 2022.
CAF
Funding was secured through the Charities Aid Foundation Resilience Fund which was provided by the Department for Digital, Culture, Media and Sport (DCMS), as part of its Community Match Challenge, and kindly matched by the Covid-19 Support Fund, created by the insurance and long-term savings industry to enable organisations to adapt and thrive; to continue to deliver the services that support the needs of beneficiaries whilst also building organisational resilience. The grant is formed in two parts: a a main grant and a resilience grant. The main grant will support a range of activities including delivery of support to young people and the introduction of a Deputy Chief Executive post. The resilience grant will allow us to strategically change and adapt in order to respond to new and future challenges.
Skerne Park Community Enterprise Association
Morrison Trust continues to maintain a strategic link with Skerne Park Community Enterprise Association which is a community based group providing nursery facilities to families living in and around the Skerne Park estate in Darlington. Support provided includes strategic support, line management, HR and financial support.
SFTV room hire
The management team for the Step Forward Tees Valley programme utilise space at Morton Park Conference Centre.
Morton Park Conference Centre facilities
The Trust has continued to provide training and conference facilities to a range of public, private and voluntary sector organisations. There has been a significant reduction in income due to restrictions resulting from Covid-19.
System Training
We have retained accredited centre status with Highfield, allowing us to provide qualifications accredited via Highfield Qualifications.
We secured a contract from System Training to deliver a range of accredited qualifications as a sub-contractor to System Training, delivering as part of the TVCA Combined Authority Adult Education Budget programme. To the end of March 2022, we have supported 79 participants to gain 101 qualifications.
Related Parties
The Trust recognises the importance of partnership working in delivering effective services to our identified client groups and ensures our representation on key strategic groups.
The Trust works in partnership with a range of key local organisations, including: Skerne Park Community Enterprise Association, Darlington Credit Union, FirstStop Darlington, YMCA Tees Valley, Adult and Community Learning (Darlington Borough Council), 700Club and Darlington Citizens Advice
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The Wm Morrison Darlington Enterprise Trust
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Financial Review
The Statement of Financial Activities for the year is set out on page 16.
Income
The total income for the year is £450,0925 (2021 - £401,797).
Income from charitable activities
Movements in income occur where a funding stream has ceased and additional funding has been secured from other sources. New funding secured is also shown within this section.
Expenditure
Further information on expenditure is contained in the notes to the financial statements on pages 24 to 26.
Performance during the period
The charity has income of £475,818 (2021 - £401,797) and expenditure of £400,243 (2021 - £415,260) during the period in line with the charity's objectives.
The surplus for the year amounted to £75,575 (2021 - Deficit of £13,463). The accumulated funds available for future expenditure amounted to £294,295 (2021 - £218,720) at 31 March 2022.
Investment Policy
The Trustees have the power to invest any money held by the Trust in any way in which they in their discretion think fit in any part of the world.
Currently the Trust assets are held with the Unity Trust Bank, The Hampshire Trust Bank and Virgin Money.
Reserves Policy
As the Trust is reliant on contracts and grants for funding, the Trustees have determined to maintain reserves of at least six months' expenditure on unrestricted funds plus closure costs in order to be able to make the appropriate level of commitment.
At the year end, free reserves amounted to £152,557 (2021 - £171,481), which is in line with the Trust's reserves policy.
Future funding
During the coming 12 months, we will work towards successfully delivering existing contracts and grant funded programmes, including: Tees Valley Pathways (Youth Employment Initiative), Step Forward Tees Valley, Choices (The Henry Smith Charity), Morrison Trust into Work (National Lottery Community Fund), Charities Aid Foundation resilience development and the communications and engagement development (Community Foundation serving Tyne & Wear and Northumberland Growth and Resilience fund).
We will aim to secure funding to meet the needs of beneficiaries following programmes that will come to an end in 2022 (Morrison Trust into Work).
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The Wm Morrison Darlington Enterprise Trust
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Plans for Future Periods
Key objectives during the coming financial year are:
To maintain a strong profile within Darlington and retain financial stability during challenging economic times.
To successfully deliver key programmes including the Youth Employment Initiative and Step Forward Tees Valley.
To maintain involvement in key strategic initiatives within Darlington.
To ensure that all Trust projects work effectively within the current economic circumstances and work towards achieving project targets.
To remain responsive to additional opportunities which become available during the year.
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The Wm Morrison Darlington Enterprise Trust
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Structure, Governance and Management
The charity was incorporated as a limited company on 6th March 2010 with company number 07180982 and was registered as a charity on 23rd March 2010 with charity number 1135126. The charity is governed by its Memorandum and Articles of Association (the "Constitution") dated 6th March 2010.
On 6 April 2010 the charity received the assets, liabilities and activities of the unincorporated charity of the same name with charity number 327040.
Governance
The Trust is governed in accordance with the objectives as set out within the Deed of Trust and detailed under the section "objectives and activities". The statutory provision about the appointment, retirement and discharge of Trustees applies to the Trust.
The Trust has a formalised recruitment process for Trustees, which includes outlining eligibility criteria, Trustee legal responsibilities, person specification and a formalised induction process.
Induction and role of Trustees
All new Trustees will be given copies of the person specification and job description in relation to Trustee appointment. They will also receive a copy of the Trust deed, the latest set of accounts and copies of minutes from previous Trustee meetings. Each Trustee is given comprehensive information on previous and current projects and activities. Their duties and responsibilities are outlined to them, including their legal responsibilities.
Following their appointment they will also be asked to complete the register of interest, if applicable, which will then be reviewed on an ongoing basis. Trustees are also checked against the relevant registers to ensure they are not disqualified by law from acting as Trustees. They will also be required to undertake a Disclosure and Barring Service Check.
The Trustees in office during the period are set out on page 8. The Trustees meet quarterly and are responsible for establishing clear strategic goals for the Trust. They oversee all Trust activity including:
Recruitment and staffing Financial management Quality Legal issues Target setting Project evaluation Public relations Governance / constitutional issues Information technology Information technology security Protection of customer data
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The Wm Morrison Darlington Enterprise Trust
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
The Chief Executive and individual Trustees bring different skills and knowledge to Trustee meetings. Where specific areas of knowledge / legislation are required in relation to the Trust, a decision would be made at a meeting as to whether the Chief Executive or a Trustee would source such information. The information would then be explained at a Trustee meeting. As a result, Trustees are kept up to date with current legislation in relation to the Trust e.g.: matters appertaining to employment, health and safety, VAT etc.
The Trustees are fully briefed by the Chief Executive on the operation of the Trust at each of the formal Trustee meetings. During the intervening periods, Trustees are made aware of any developments the Chief Executive raises, alongside periodic visits by the Trustees to the main offices.
All Trustees give their time voluntarily and receive no benefit from the charity. Travel costs were reclaimed from the charity during the year.
Management and staffing
The Trustees have delegated responsibility for the day to day running of the Trust to the Chief Executive who is assisted in this role by the Conference Centre Manager. The Chief Executive is responsible for recruitment, training and development of staff, developing and maintaining quality systems, policies and procedures, IT security and the protection of customer data, preparing funding bids and project management.
All Trust staff delivering information, advice and guidance have a minimum of an NVQ level 3 in Advice and Guidance, with most having NVQ level 4. The qualifications are part of the process of ensuring the Trust has suitably trained staff to ensure the organisation is in a good position to secure contracts from statutory providers.
Risk assessment
The Trustees, in monitoring the operation of the Trust, review any risks the Trust may face and take appropriate action as required and will seek professional advice where necessary.
The major risks, to which the Trust is exposed as identified by the Trustees, have been reviewed and procedures have been established to manage those risks. In order to minimise risk to the Trust, the Trustees review the following areas on an ongoing basis:
Buildings: in order to minimise risk, Trust staff work within their health and safety policy and an annual risk assessment of the building is carried out after which any areas for concern would be addressed.
Staff: are expected to work in line with staff policies and procedures which include details of how staff should work safely with clients. Policies are reviewed on an ongoing basis.
Clients utilising Morton Park conference facilities are issued with safety information relating to their use of the premises.
Clients utilising employment projects are issued with a Statement of Service which outlines health and safety relating to their visit to the Trust premises.
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The Wm Morrison Darlington Enterprise Trust
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Management accounts are produced and reviewed by Trustees on a monthly basis. Individual project finance is monitored on a monthly basis, to ensure projects are operating within budget constraints. Financial aspects of the Trust are discussed at quarterly Trustee meetings. If any financial risk was identified, remedial action would be taken at that point.
Annual accounts are subject to audit by registered auditors.
Contracts with Prime Contractors necessitates the Trust demonstrating a high degree of security in the area of IT and the protection of customer data. To meet this requirement a detailed security plan and business continuity plan and related policies are in place.
Public benefit
The Trust's main activities and who we support are described elsewhere in this report. All our charitable activities are undertaken to further our charitable purposes for the public benefit. The Trustees have had regard to the Charity Commission's guidance on public benefit throughout the year when deciding on the activities of the charity.
Reference and Administrative Details
Registered charity name The Wm Morrison Darlington Enterprise Trust Charity registration number 1135126 Company registration number 07180982 Principal office and registered Morton Park Business Training Centre office Morton Park Yarm Road Darlington DL1 4PJ The Trustees Mr B C Warnes Mr P A Beasley Mr T C Watson Mrs D Fowler Mrs C Miller Auditor Allen Sykes Ltd Chartered Accountants & statutory auditor 5 Henson Close South Church Enterprise Park Bishop Auckland County Durham DL14 6WA Bankers Unity Trust Bank Plc Nine Brindleyplace Birmingham B1 2HB
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The Wm Morrison Darlington Enterprise Trust
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Trustees' Responsibilities Statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that:
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so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
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they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
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The Wm Morrison Darlington Enterprise Trust
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr B C Warnes Trustee
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The Wm Morrison Darlington Enterprise Trust
Independent Auditor's Report to the Members of The Wm Morrison Darlington Enterprise Trust
Year Ended 31 March 2022
Opinion
We have audited the financial statements of The Wm Morrison Darlington Enterprise Trust (the 'charity') for the year ended 31 March 2022 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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The Wm Morrison Darlington Enterprise Trust
Independent Auditor's Report to the Members of The Wm Morrison Darlington Enterprise Trust (continued)
Year Ended 31 March 2022
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the trustees' report has been prepared in accordance with applicable legal requirements.
Matters on Which We are Required to Report by Exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
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The Wm Morrison Darlington Enterprise Trust
Independent Auditor's Report to the Members of The Wm Morrison Darlington Enterprise Trust (continued)
Year Ended 31 March 2022
Responsibilities of Trustees
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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The Wm Morrison Darlington Enterprise Trust
Independent Auditor's Report to the Members of The Wm Morrison Darlington Enterprise Trust (continued)
Year Ended 31 March 2022
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charities Act 2011, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws
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and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates
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were indicative of potential bias; and
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investigated the rationale behind any identified significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed
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The Wm Morrison Darlington Enterprise Trust
Independent Auditor's Report to the Members of The Wm Morrison Darlington Enterprise Trust (continued)
Year Ended 31 March 2022
procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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enquiring of management as to actual and potential litigation and claims; and
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reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
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The Wm Morrison Darlington Enterprise Trust
Independent Auditor's Report to the Members of The Wm Morrison Darlington Enterprise Trust (continued)
Year Ended 31 March 2022
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of Our Report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr P W Lamb (Senior Statutory Auditor)
For and on behalf of Allen Sykes Ltd Chartered Accountants & statutory auditor 5 Henson Close South Church Enterprise Park Bishop Auckland County Durham DL14 6WA
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The Wm Morrison Darlington Enterprise Trust
Statement of Financial Activities (including income and expenditure account)
Year Ended 31 March 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 10,000 | – | 10,000 | 5,000 |
| Charitable activities | 6 | 131,638 | 277,440 | 409,078 | 329,352 |
| Investment income | 7 | 1,267 | – | 1,267 | 1,533 |
| Other income | 8 | 55,473 | – | 55,473 | 65,912 |
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| Total income | 198,378 | 277,440 | 475,818 | 401,797 | |
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| Expenditure | |||||
| Expenditure on charitable activities | 9,10 | 172,027 | 228,216 | 400,243 | 415,260 |
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| Total expenditure | 172,027 | 228,216 | 400,243 | 415,260 | |
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| Net income/(expenditure) | 26,351 | 49,224 | 75,575 | (13,463) | |
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| Transfers between funds | (45,275) | 45,275 | – | – | |
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| Net movement in funds | (18,924) | 94,499 | 75,575 | (13,463) | |
| Reconciliation of funds | |||||
| Total funds brought forward | 171,481 | 47,239 | 218,720 | 232,183 | |
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| Total funds carried forward | 152,557 | 141,738 | 294,295 | 218,720 | |
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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 20 to 34 form part of these financial statements.
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The Wm Morrison Darlington Enterprise Trust
Statement of Financial Position
31 March 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current Assets | ||||
| Debtors | 16 | 63,311 | 45,452 | |
| Cash at bank and in hand | 273,690 | 206,980 | ||
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| 337,001 | 252,432 | |||
| Creditors: amounts falling due within one year | 17 | 42,706 | 33,712 | |
───────── |
───────── |
|||
| Net Current Assets | 294,295 | 218,720 | ||
───────── |
───────── |
|||
| Total Assets Less Current Liabilities | 294,295 | 218,720 | ||
───────── |
───────── |
|||
| Net Assets | 294,295 | 218,720 | ||
═════════ |
═════════ |
|||
| Funds of the Charity | ||||
| Restricted funds | 141,738 | 47,239 | ||
| Unrestricted funds | 152,557 | 171,481 | ||
───────── |
───────── |
|||
| Total charity funds | 19 | 294,295 | 218,720 | |
═════════ |
═════════ |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mr B C Warnes Trustee
Mr P A Beasley Trustee
The notes on pages 20 to 34 form part of these financial statements.
- 18 -
The Wm Morrison Darlington Enterprise Trust
Statement of Cash Flows
Year Ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Cash Flows from Operating Activities | ||
| Net income/(expenditure) | 75,575 | (13,463) |
| Adjustments for: | ||
| Other interest receivable and similar income | (1,267) | (1,533) |
| Accrued expenses | 17,597 | 3,464 |
| Changes in: | ||
| Trade and other debtors | (17,859) | 10,768 |
| Trade and other creditors | (8,603) | (508) |
──────── |
──────── |
|
| Cash generated from operations | 65,443 | (1,272) |
| Interest received | 1,267 | 1,533 |
──────── |
─────── |
|
| Net cash from operating activities | 66,710 | 261 |
════════ |
═══════ |
|
| Net Increase in Cash and Cash Equivalents | 66,710 | 261 |
| Cash and Cash Equivalents at Beginning of Year | 206,980 | 206,719 |
───────── |
───────── |
|
| Cash and Cash Equivalents at End of Year | 273,690 | 206,980 |
═════════ |
═════════ |
The notes on pages 20 to 35 form part of these financial statements.
- 19 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements
Year Ended 31 March 2022
1. General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Morton Park Business Training Centre, Morton Park, Yarm Road, Darlington, DL1 4PJ.
2. Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investments measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going Concern
There are no material uncertainties about the charity’s ability to continue.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees consider that there are no significant estimates or judgements affecting these financial statements.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity.
Designated funds are unrestricted funds earmarked by the trustees for specific purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
- 20 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
3. Accounting Policies (continued)
Income
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market.
Investment income is included when receivable.
Income from charitable trading activity is accounted for when earned.
Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, based on staff numbers and floor area.
- 21 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
3. Accounting Policies (continued)
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
- 22 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
3. Accounting Policies (continued)
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Taxation
The company 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 company 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.
4. Limited by Guarantee
The company is limited by guarantee. At 31st March 2022 there were 5 members each of whom had undertaken to contribute an amount not exceeding £10 in the event of a winding up.
5. Donations and Legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | – | – | 5,000 | 5,000 |
| Grants | ||||
| DBC Covid support | 10,000 | 10,000 | – | – |
──────── |
──────── |
─────── |
─────── |
|
| 10,000 | 10,000 | 5,000 | 5,000 | |
════════ |
════════ |
═══════ |
═══════ |
- 23 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
6. Charitable Activities
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| National Lottery Community Fund | – | 51,452 | 51,452 | ||
| Youth Employment Initiative (YEI) | – | 31,371 | 31,371 | ||
| Step Forward Tees Valley (SFTV) | – | 19,528 | 19,528 | ||
| Sport England | – | 2,760 | 2,760 | ||
| The Henry Smith Charity | – | 50,400 | 50,400 | ||
| Tyne & Wear Community Foundation | (Growth & | ||||
| Resilience) | – | 25,310 | 25,310 | ||
| Charities Aid Foundation (CAF) | – | 83,721 | 83,721 | ||
| Skerne Park Community Enterprise Association | 12,000 | – | 12,000 | ||
| SFTV Room Hire | 27,646 | – | 27,646 | ||
| Morton Park Conference Centre | 82,521 | – | 82,521 | ||
| Systems Training | 9,251 | – | 9,251 | ||
| Bernicia Foundation | – | 5,000 | 5,000 | ||
| Happiness Hubs | – | 3,398 | 3,398 | ||
| Newcastle Building Society | – | 4,500 | 4,500 | ||
| Other income | 220 | - | 13,118 | ||
───────── |
───────── |
───────── |
|||
| 131,638 | 277,440 | 409,078 | |||
═════════ |
═════════ |
═════════ |
|||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Youth Employment Initiative (YEI) | – | 32,554 | 32,554 | ||
| Step Forward Tees Valley (SFTV) | – | 38,016 | 38,016 | ||
| Sport England | – | 8,334 | 8,334 | ||
| The Henry Smith Charity | – | 48,000 | 48,000 | ||
| Garfield Weston | – | 25,000 | 25,000 | ||
| The Wellesley Trust Fund at the Community | |||||
| Foundation serving Tyne & Wear and | |||||
| Northumberland | – | 19,467 | 19,467 | ||
| National Lottery Covid 19 Response | – | 34,233 | 34,233 | ||
| NHS Health Improvement Fund | – | 9,976 | 9,976 | ||
| Skerne Park Community Enterprise Association | 12,000 | – | 12,000 | ||
| SFTV Room Hire | 28,959 | – | 28,959 | ||
| Morton Park Conference Centre | 34,504 | – | 34,504 | ||
| Systems Training | 23,309 | – | 23,309 | ||
| Other income | – | 15,000 | 15,000 | ||
──────── |
───────── |
───────── |
|||
| 98,772 | 230,580 | 329,352 | |||
════════ |
═════════ |
═════════ |
|||
| 7. | Investment Income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 1,267 | 1,267 | 1,533 | 1,533 | |
═══════ |
═══════ |
═══════ |
═══════ |
- 24 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
8. Other Income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| HMRC Job Retention Scheme | 27,113 | 27,113 | 61,500 | 61,500 |
| Employment Allowance | 4,000 | 4,000 | 4,412 | 4,412 |
| Insurance claim | 24,360 | 24,360 | – | – |
──────── |
──────── |
──────── |
──────── |
|
| 55,473 | 55,473 | 65,912 | 65,912 | |
════════ |
════════ |
════════ |
════════ |
- 25 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
9. Expenditure on Charitable Activities by Fund Type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Youth Employment Initiative (YEI) | – | 33,991 | 33,991 |
| Henry Smith Charity - Choices | – | 46,892 | 46,892 |
| Sport England | – | 1,133 | 1,133 |
| National Lottery Community Fund - MTIW | – | 23,622 | 23,622 |
| CDCF Covid 19 | – | 229 | 229 |
| Tyne & Wear Community Foundation (Growth & | |||
| Resilience) | – | 480 | 480 |
| Step Forward Tees Valley (SFTV) | – | 34,948 | 34,948 |
| Systems Training | 20,239 | – | 20,239 |
| CAF - Main | – | 2,963 | 2,963 |
| CAF - Resilience | – | 147 | 147 |
| Happiness Hubs | – | 131 | 131 |
| Skerne Park Community Enterprise Association | 10,973 | – | 10,973 |
| NHS Health Improvements | – | 3,703 | 3,703 |
| The Wellesley Trust Fund at the Community | |||
| Foundation serving Tyne & Wear and | |||
| Northumberland | – | 6,995 | 6,995 |
| Newcastle Building Society | – | 4,500 | 4,500 |
| Garfield Weston | – | 12,500 | 12,500 |
| Morton Park Conference Centre | 90,768 | – | 90,768 |
| Support costs | 50,047 | 55,982 | 106,029 |
───────── |
───────── |
───────── |
|
| 172,027 | 228,216 | 400,243 | |
═════════ |
═════════ |
═════════ |
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Youth Employment Initiative (YEI) | – | 41,457 | 41,457 |
| Henry Smith Charity - Choices | – | 41,231 | 41,231 |
| Sport England | – | 16,141 | 16,141 |
| National Lottery Community Fund - MTIW | – | – | – |
| Care & Share | – | 2,321 | 2,321 |
| ESF Community Grants | – | 22,458 | 22,458 |
| CDCF Covid 19 | – | 3,326 | 3,326 |
| National Lottery Covid 19 Response | – | 37,169 | 37,169 |
| CDCF - Growth & Resilience | – | – | – |
| Step Forward Tees Valley (SFTV) | – | 32,006 | 32,006 |
| Systems Training | 59,486 | – | 59,486 |
| Skerne Park Community Enterprise Association | 11,182 | – | 11,182 |
| The Wellesley Trust Fund at the Community | |||
| Foundation serving Tyne & Wear and | |||
| Northumberland | – | 6,915 | 6,915 |
| Morton Park Conference Centre | 69,204 | – | 69,204 |
| Support costs | 38,412 | 33,952 | 72,364 |
───────── |
───────── |
───────── |
|
| 178,284 | 236,976 | 415,260 | |
═════════ |
═════════ |
═════════ |
- 26 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
10. Expenditure on Charitable Activities by Activity Type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Youth Employment Initiative (YEI) | 33,991 | 13,063 |
47,054 | 54,057 |
| Henry Smith Charity - Choices | 46,892 | 5,747 |
52,639 | 46,834 |
| Sport England | 1,133 | – |
1,133 | 16,246 |
| National Lottery Community Fund - | ||||
| MTIW | 23,622 | 2,737 |
26,359 | – |
| Care & Share | – | – |
– | 4,143 |
| ESF Community Grants | – | – |
– | 22,496 |
| CDCF Covid 19 | 229 | – |
229 | 4,771 |
| National Lottery Covid 19 Response | – | – |
– | 38,051 |
| Tyne & Wear Community Foundation | ||||
| (Growth & Resilience) | 480 | 15,284 |
15,764 | – |
| Step Forward Tees Valley (SFTV) | 34,948 | 14,173 |
49,121 | 41,728 |
| Systems Training | 20,239 | 4,008 |
24,247 | 65,605 |
| CAF - Main | 2,963 | 2,345 |
5,308 | – |
| CAF - Resilience | 147 | 600 |
747 | – |
| Happiness Hubs | 131 | 90 |
221 | – |
| Skerne Park Community Enterprise | ||||
| Association | 10,973 | 1,200 |
12,173 | 11,182 |
| NHS Health Improvements | 3,703 | 292 |
3,995 | – |
| The Wellesley Trust Fund at the | ||||
| Community Foundation serving Tyne & | ||||
| Wear and Northumberland | 6,995 | 1,651 |
8,646 | 8,650 |
| Newcastle Building Society | 4,500 | – |
4,500 | – |
| Garfield Weston | 12,500 | – |
12,500 | – |
| Morton Park Conference Centre | 90,768 | 44,839 |
135,607 | 101,497 |
───────── |
───────── |
───────── |
───────── |
|
| 294,214 | 106,029 |
400,243 | 415,260 | |
═════════ |
═════════ |
═════════ |
═════════ |
- 27 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
11. Analysis of Support Costs
| Tyne & Wear | ||||||||
|---|---|---|---|---|---|---|---|---|
| Youth | The Henry | National |
Community |
Step | ||||
| Employment | Smith | Lottery |
Foundation |
Forward | ||||
| Initiative | Charity - | Community |
(Growth & |
Tees Valley | Systems | CAF - | ||
| (YEI) | Choices | Fund - MTIW |
Resilience) |
(SFTV) | Training CAF - Main | Resilience | ||
| £ | £ | £ | £ | £ | £ | £ | £ | |
| Premises | 6,938 | 2,908 | 1,369 |
– |
6,993 | 1,923 | 1,279 | – |
| General office | 3,820 | 1,825 | 1,059 |
501 |
4,930 | 1,204 | 592 | – |
| Legal & Professional fees | 2,305 | 1,014 | 309 |
14,783 |
2,250 | 881 | 474 | 600 |
──────── |
─────── |
─────── |
──────── |
──────── |
─────── |
─────── |
──── |
|
| 13,063 | 5,747 | 2,737 |
15,284 |
14,173 | 4,008 | 2,345 | 600 | |
════════ |
═══════ |
═══════ |
════════ |
════════ |
═══════ |
═══════ |
════ |
| The | |||||||
|---|---|---|---|---|---|---|---|
| Wellesley | |||||||
| Trust Fund | |||||||
| at the | |||||||
| Community | |||||||
| Foundation | |||||||
| Skerne Park | serving Tyne | ||||||
| Community | & Wear and | Morton Park |
|||||
| Happiness | Enterprise |
NHS Health |
Northumberl |
Conference | |||
| Hubs | Association |
Improvement |
and |
Centre |
Total 2022 | Total 2021 | |
| £ | £ | £ | £ | £ | £ | £ | |
| Premises | 90 | 577 |
292 |
851 |
23,884 |
47,104 | 16,134 |
| General office | – | 359 |
– |
474 |
13,103 |
27,867 | 38,639 |
| Legal & Professional fees | – | 264 |
– |
326 |
7,852 |
31,058 | 17,591 |
──── |
─────── |
──── |
─────── |
──────── |
───────── |
──────── |
|
| 90 | 1,200 |
292 |
1,651 |
44,839 |
106,029 | 72,364 | |
════ |
═══════ |
════ |
═══════ |
════════ |
═════════ |
════════ |
- 28 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
12. Auditor’s Fees
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the auditor for: | ||
| Audit of the financial statements | 2,575 | 2,430 |
═══════ |
═══════ |
13. Staff Costs
The average head count of employees during the year was 13 (2021: 15). The average number of full-time equivalent employees during the year is analysed as follows:
| of full-time equivalent employees during the year is | analysed as follows: | |
|---|---|---|
| 2022 | 2021 | |
| No. | No. | |
| Number of conference staff | 3 | 3 |
| Number of admin staff | 3 | 3 |
| Number of managerial staff | 3 | 3 |
| Number of project staff | 4 | 6 |
──── |
──── |
|
| 13 | 15 | |
════ |
════ |
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £39,006 (2021:£37,274).
14. Trustee Remuneration and Expenses
No trustees received any remuneration from the charity during the current or previous year. 5 trustees received expenses totalling £191 during the year (2021 - £365).
15. Transfers Between Funds
During the year a total of £45,275 was transferred from unrestricted to restricted funds. This comprised:
| 2022 | |
|---|---|
| £ | |
| Match funding for the SFTV project | 29,593 |
| Match funding for YEI project | 15,682 |
──────── |
|
| 45,275 | |
════════ |
- 29 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
16. Debtors
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 17,708 | 8,814 |
| Prepayments | 3,290 | 1,183 |
| Accrued income | 41,915 | 34,783 |
| Other debtors | 398 | 672 |
──────── |
──────── |
|
| 63,311 | 45,452 | |
════════ |
════════ |
17. Creditors: amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 5,658 | 12,367 |
| Accruals and deferred income | 27,252 | 9,655 |
| Social security and other taxes | 3,495 | 5,693 |
| Pension creditor | 1,105 | 1,544 |
| Other creditors | 5,196 | 4,453 |
──────── |
──────── |
|
42,706════════ |
33,712════════ |
18. Pensions and Other Post Retirement Benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £6,835 (2021: £7,912).
19. Analysis of Charitable Funds
Unrestricted funds
| At | At 31 March | |||||
|---|---|---|---|---|---|---|
| 1 | April 2021 | Income | Expenditure | Transfers | 2022 | |
| £ | £ | £ | £ | £ | ||
| General fund | 171,481 | 198,378 | (172,027) | (45,275) | 152,557 |
|
═════════ |
═════════ |
═════════ |
════════ |
═════════ |
||
| At | At 31 March | |||||
| 1 | April 2020 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | ||
| General fund | 211,370 | 171,217 | (178,284) | (32,822) | 171,481 |
|
═════════ |
═════════ |
═════════ |
════════ |
═════════ |
- 30 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
19. Analysis of Charitable Funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | At 31 March | ||||
| 1 April 2021 | Income | Expenditure | Transfers | 2022 |
|
| £ | £ | £ | £ | £ | |
| Youth Employment | |||||
| Initiative | – | 31,371 | (47,053) | 15,682 | – |
| Step Forward Tees | |||||
| Valley | – | 19,528 | (49,121) | 29,593 | – |
| The Henry Smith Charity | |||||
| - Choices | 12,611 | 50,400 | (52,640) | – | 10,371 |
| Garfield Weston | 12,500 | – | (12,500) | – | – |
| The Wellesley Trust | |||||
| Fund at the Community | |||||
| Foundation serving Tyne | |||||
| & Wear & | |||||
| Northumberland | 10,817 | – | (8,645) | – | 2,172 |
| National Lottery | |||||
| Community Fund - | |||||
| MTIW | – | 56,452 | (26,360) | – | 30,092 |
| Sport England | – | 2,760 | (1,133) | – | 1,627 |
| CAF - Main | – | 73,721 | (5,308) | – | 68,413 |
| CAF - Resilience | – | 10,000 | (747) | – | 9,253 |
| Newcastle Building | |||||
| Society | – | 4,500 | (4,500) | – | – |
| North Yorkshire NHS | |||||
| (Care & Share) | 1,106 | – | – | – | 1,106 |
| NHS Health | |||||
| Improvement | 9,976 | – | (3,995) | – | 5,981 |
| CDCF - Covid 19 | 229 | – | (229) | – | – |
| Tyne & Wear | |||||
| Community Foundation | |||||
| (Growth & Resilience) | – | 25,310 | (15,764) | – | 9,546 |
| Happiness Hub | – | 3,398 | (221) | – | 3,177 |
──────── |
───────── |
───────── |
──────── |
───────── |
|
| 47,239 | 277,440 | (228,216) | 45,275 | 141,738 |
|
════════ |
═════════ |
═════════ |
════════ |
═════════ |
- 31 -
The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
19. Analysis of Charitable Funds (continued)
| At | At 31 March | ||||
|---|---|---|---|---|---|
| 1 April 2020 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| Youth Employment | |||||
| Initiative | – | 32,554 | (54,057) | 21,503 | – |
| Step Forward Tees | |||||
| Valley | 464 | 38,016 | (41,728) | 3,248 | – |
| The Henry Smith Charity | |||||
| - Choices | 11,445 | 48,000 | (46,834) | – | 12,611 |
| Garfield Weston | – | 25,000 | – | (12,500) | 12,500 |
| The Wellesley Trust | |||||
| Fund at the Community | |||||
| Foundation serving Tyne | |||||
| & Wear & | |||||
| Northumberland | – | 19,467 | (8,650) | – | 10,817 |
| National Lottery | |||||
| Community Fund - | |||||
| MTIW | – | – | – | – | – |
| Sport England | 7,912 | 8,334 | (16,246) | – | – |
| CAF - Main | – | – | – | – | – |
| CAF - Resilience | – | 5,000 | – | (5,000) | – |
| Shears Foundation | – | 5,000 | – | (5,000) | – |
| North Yorkshire NHS | |||||
| (Care & Share) | 5,249 | – | (4,143) | – | 1,106 |
| ESF Community grants | (4,257) | – | (22,496) | 26,753 | – |
| NHS Health | |||||
| Improvement | – | 9,976 | – | – | 9,976 |
| National Lottery | |||||
| Community Fund - | |||||
| Covid 19 Response | – | 34,233 | (38,051) | 3,818 | – |
| CDCF - Covid 19 | – | 5,000 | (4,771) | – | 229 |
──────── |
───────── |
───────── |
──────── |
──────── |
|
| 20,813 | 230,580 | (236,976) | 32,822 | 47,239 | |
════════ |
═════════ |
═════════ |
════════ |
════════ |
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The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
19. Analysis of Charitable Funds (continued)
Youth Employment Initiative (YEI): This programme aims to support young people across the Tees Valley aged 15-29 who are unemployed and / or not in education, employment or training.
Step Forward Tees Valley (SFTV): The programme operates across the Tees Valley, starting in October 2016 and aims to support unemployed / inactive participants across the Tees Valley.
Sport England: Grant funding was received from Sport England's Tackling Inactivity and Economic Disadvantage programme (TIED). The funding is aimed at supporting people in low socio-economic groups to get active and was awarded to projects delivering in disadvantaged communities around the country. Morrison Trust is working in partnership with another charity, Active Life Foundation, to provide activities in target communities across Darlington through the 'Step Out' project.
The Henry Smith Charity: This grant funding supported the Choices project.
Garfield Weston Foundation: This grant contributed to core costs of community development work and delivery of employability support to individuals.
The Wellesley Trust at the Community Foundation serving Tyne & Wear and Northumberland: This funding supported young care leavers to move towards training, education, employment or voluntary work.
Government's Coronavirus Community Support Fund, distributed by The National Lottery Community Fund: Grant funding was received for the provision of a project to support people who were out of work or had lost their job as a result of the pandemic. Support included one to one employability and access to training and skills. The funding also supported Conference Centre costs associated with the impact of Covid-19.
County Durham Community Foundation working in partnership with Darlington Borough Council: Grant funding was received from County Durham Community Foundation working in partnership with Darlington Borough Council for costs associated with Covid-19.
NHS Health Improvement Fund (via County Durham Community Foundation): Grant funding was received from the NHS Health Improvement Fund (via County Durham Community Foundation) towards costs of delivering a Men's IT Shed.
Warburtons and Charities Aid Foundation: Grant funding was received from Warburtons (Covid grants). The grant allowed an extension to a project that was initially established through a grant from National Lottery Emergency Support Fund which allowed us to support people who were out of work or had lost their job as a result of the pandemic.
The Shears Foundation: Grant funding was received from The Shears Foundation to support the costs of sustaining the Conference Centre as a result of the Covid-19 pandemic.
Care and Share joint project - A grant was received from North Yorkshire NHS to deliver a project working in partnership with the Care & Share group.
ESF Community Grants - A grant was received from ESF Community Grants Programme for a six month project to support young people (aged 16 to 29) who are NEET and living in Darlington to reduce barriers to moving into and sustaining employment.
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The Wm Morrison Darlington Enterprise Trust
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
19. Analysis of Charitable Funds (continued)
Happiness Hubs - Grant funding from County Durham Clinical Commissioning Group (grant funding managed by The Pioneering Care Partnership) was received to deliver 36 community learning sessions under the Happiness Hubs programme. The sessions have a focus on well-being and mindfulness and a range of art and craft activities are available at sessions. The project started in March 2022 and sessions are held on a fortnightly basis.
Bernicia Foundation - Grant funding was received from the Bernicia Foundation as a contribution towards delivery of the National Lottery Community Fund project, supporting unemployed people to address barriers and develop employability skills.
20. Analysis of Net Assets Between Funds
| Unrestricted | Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Current assets | 195,263 | 141,738 | 337,001 | ||
| Creditors less than 1 year | (42,706) | – | (42,706) | ||
───────── |
───────── |
───────── |
|||
| Net assets | 152,557 | 141,738 | 294,295 | ||
═════════ |
═════════ |
═════════ |
|||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Current assets | 205,193 | 47,239 | 252,432 | ||
| Creditors less than 1 year | (33,712) | – | (33,712) | ||
───────── |
──────── |
───────── |
|||
| Net assets | 171,481 | 47,239 | 218,720 | ||
═════════ |
════════ |
═════════ |
|||
| 21. | Analysis of Changes in Net Debt | ||||
| At | |||||
| At | 1 Apr 2021 | Cash flows | 31 Mar 2022 | ||
| £ | £ | £ | |||
| Cash at bank and in hand | 206,980 | 66,710 | 273,690 | ||
═════════ |
════════ |
═════════ |
22. Related Parties
The wife of Mr P A Beasley, trustee, is a training provider who is engaged by the Trust on occasion. During the year she invoiced £2,050 (2021 - £3,321).
B Warnes and C Miller, trustees, are also committee members of Skerne Park Community Enterprise Association from whom the Trust received a management fee of £12,000 (2021 - £12,000).
- 34 -
The Wm Morrison Darlington Enterprise Trust
Management Information
Year Ended 31 March 2022
The Following Pages Do Not Form Part of the Financial Statements.
- 35 -
The Wm Morrison Darlington Enterprise Trust
Detailed Statement of Financial Activities
Year Ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | – | 5,000 |
| DBC Covid support | 10,000 | – |
──────── |
─────── |
|
| 10,000 | 5,000 | |
──────── |
─────── |
|
| Charitable activities | ||
| National Lottery Community Fund | 51,452 | – |
| Youth Employment Initiative (YEI) | 31,371 | 32,554 |
| Step Forward Tees Valley (SFTV) | 19,528 | 38,016 |
| Sport England | 2,760 | 8,334 |
| The Henry Smith Charity | 50,400 | 48,000 |
| Garfield Weston | – | 25,000 |
| The Wellesley Trust Fund at the Community Foundation serving Tyne & | ||
| Wear and Northumberland | – | 19,467 |
| National Lottery Covid 19 Response | – | 34,233 |
| Tyne & Wear Community Foundation (Growth & Resilience) | 25,310 | – |
| Charities Aid Foundation (CAF) | 83,721 | – |
| NHS Health Improvement Fund | – | 9,976 |
| Skerne Park Community Enterprise Association | 12,000 | 12,000 |
| SFTV Room Hire | 27,646 | 28,959 |
| Morton Park Conference Centre | 82,521 | 34,504 |
| Systems Training | 9,251 | 23,309 |
| Other income | 13,118 | 15,000 |
───────── |
───────── |
|
| 409,078 | 329,352 | |
───────── |
───────── |
|
| Investment income | ||
| Bank interest receivable | 1,267 | 1,533 |
─────── |
─────── |
|
| Other income | ||
| HMRC Job Retention Scheme | 27,113 | 61,500 |
| Employment Allowance | 4,000 | 4,412 |
| Insurance claim | 24,360 | – |
──────── |
──────── |
|
| 55,473 | 65,912 | |
──────── |
──────── |
|
───────── |
───────── |
|
| Total income | 475,818 | 401,797 |
═════════ |
═════════ |
- 36 -
The Wm Morrison Darlington Enterprise Trust
Detailed Statement of Financial Activities (continued)
Year Ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Expenditure | ||
| Wages and salaries | 236,707 | 284,085 |
| Employer's NIC | 17,798 | 21,980 |
| Pension costs | 6,835 | 7,912 |
| Rent | 47,103 | 16,133 |
| Legal and professional fees | 31,058 | 17,592 |
| Other office costs | 27,868 | 38,639 |
| Staff travel and training | 2,550 | 2,015 |
| Beneficiary costs | 19,068 | 17,045 |
| Moneyworks partner payments | 2,073 | 5,353 |
| Conference centre costs | 9,183 | 4,506 |
───────── |
───────── |
|
| 400,243 | 415,260 | |
───────── |
───────── |
|
───────── |
───────── |
|
| Total expenditure | 400,243 | 415,260 |
═════════ |
═════════ |
|
───────── |
───────── |
|
| Net income/(expenditure) | 75,575 | (13,463) |
═════════ |
═════════ |
- 37 -