**Charity Registration No. 1135162**
**Company Registration No. 07013525 (England and Wales)**
## **EXETER COMMUNITY CENTRE TRUST LTD**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Ms H M Reynolds Mr R Coram Ms G Richards Mr A T Hibberd Ms J C Reynolds **Charity number** 1135162 **Company number** 07013525 **Principal address** 17 St Davids Hill Exeter Devon EX4 3RG **Registered office** Wessex House Teign Road Newton Abbot Devon TQ12 4AA **Accountants** Darnells Chartered Accountants 3rd Floor The Forum Barnfield Road Exeter Devon EX1 1QR
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7 - 8|
|Notes to the accounts|9 - 20|
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021**
The trustees present their report and financial statements for the year ended 31 March 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's Memorandum and Articles of Association dated 9 September 2009, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).
## **Objectives and activities**
The trust's objects are to further or benefit the residents of Exeter and in particular the neighbourhood of St. David's without distinction of gender, sexual orientation, race or of political, religious or other opinions by associating together with the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents. There has been no change in these during the year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
The activity of the charity is that of the running and maintenance of the Exeter Community Centre at 17 St. Davids Hill, Exeter in furtherance of its objectives as detailed above.
The trust's policy is to consult and discuss with employees and at meetings, matters likely to affect employees'
interests.
Information of matters of concern to employees is given through information bulletins, meetings and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the centre's performance.
- 1 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021**
## **Achievements and performance**
In December 2019 the Trust, having secured all the funding needed for a major refurbishment of the top floor of the Centre, to create more lettable space and to engage the community in the heritage of the Centre building and neighbourhood, was able to let the contract for the building work to start. At the same time we recruited staff and volunteers to manage the build process and the parallel community engagement programme.
And then Lockdown happened. The Centre closed on 24 March 2020, the building work stopped and staff were furloughed. The Trust and others in the St David’s community, and councillors, set up St David’s Community Help scheme which has helped those most vulnerable in the community, with the Centre providing a base for the pick up of Covid safe materials – gloves, hand sanitisers etc. The Help Scheme kept our community engagement programme functioning as best we could, with volunteer help from the community and trustees.
By May 2020 building work had begun again on the top floor. All tenants had closed their offices and the only meetings that were allowed in the Centre – and under strict Covid 19 safety rules - were those essential activities relating to health and social care that were allowed by central government. In April/May 2020 trustees began a fundraising campaign to major funders for Covid 19 Emergency, Recovery and Resilience grants. To March 2021 we have raised £109,556 in Covid support funding and JRS furlough funding for those staff whom we had to furlough, which plugs our cashflow gap to October 21 and enabled us to purchase the equipment, consumables and staff/volunteer training to become a Covid Secure building. We hope to open the building and bring staff back from furlough by the end of summer 2021 depending on central government guidelines. It is been a difficult time for all staff but especially difficult for the 3 Modern Apprentices young people we recruited in Sept 20, to then almost immediately have to close the Centre and furlough them.
Trustees, meeting on Zoom during the pandemic, decided in Feb 2021 that as the pattern of online working and working from home was likely to continue after unlocking – there was a need to consider repurposing rooms that had previously been used as meeting rooms in order to diversify trading income streams. We commissioned a feasibility study for a Community Kitchen as our work in delivering food to shielding individuals during the pandemic had shown us that there was scope to encourage healthier eating among local residents. The feasibility study survey of potential Community Kitchen hirers showed that this use of a large room would attract new target markets. We therefore applied for, and were successful in getting, funding from Power To Change to create the kitchen infrastructure of air ducts/ventilation, drainage etc to create 4 workstations that could be shared to 8, with a teaching space. Work has now started to carcass out the workstations, fit ovens and hobs and fundraise for appliances.
Our Community Activity Plan (National Lottery Heritage Fund) is in its second year. We were fortunate to be able to recruit considerably over our target number of community researchers from the local community, who have through the autumn, winter and spring been researching the history and heritage of the Centre building and the St David’s Neighbourhood. They have been supported by specialist heritage advisers, with one to one mentoring on their topic of interest and general talks available also to the public on aspects of the history of the area and Exeter. Their research will be turned into a script for a St David’s Trail led by volunteer guides.
In November 2020 we began a partnership with trusts in Exeter to develop a well-being project, encouraging those in the community who lacked confidence to go outside and/or meet people to volunteer their time as Welcome Hosts, Curators of Exhibitions or Trail Guides. Our joint application for funding from the Thriving Communities Fund (Arts Council) was successful. This programme is called ‘All’s Well’ and runs to 31 March 2022.
- 2 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021**
## **Financial review**
## C **ashflow**
The current account bank balance at the end of March 2021 was £121k with the deposit account at £193k and there has been a decrease since the start of the financial year of £29.5k which is due to the property improvement expenditure on the top floor though significant grant income has been a mitigating factor.
## **Budgets/SOFA**
## **Income**
Please note the sessional hire income is significantly lower than in 2020 due to the centre closed for much of the year due to Covid-19 and has only just reopened. Lease income has suffered too but by a lesser extent. The total grants of £150.3k in the year is as follows: £28k Covid Emergency fund, National Heritage £44.2k, ECC £12k & CJRS £66k. There was a net profit of £42.8k in the year though if you exclude grant income/ expenditure/depreciation, PPE costs & salaries (covered by CJRS grants) the operational surplus is £15.5k.
## **Expenditure**
Salary costs does not include any CJRS income from HMRC though this is shown within grant income (£66k which continues into 2021-22). The SIB interest currently much lower than budgeted (current interest level 0.5%) which has been extended to Mar 2021 by SIB. Grant expenditure is not technically operational so should be monitored against the grant income.
## **Balance sheet**
The SIB Loan has decreased only slightly (£7k) due to a capital repayment holiday from SIB (balance £989k at end of Mar 2021) and a reduced interest charged as indicated above. Property improvements now stand at £528k after deducting £11k of depreciation. The trustees may consider revaluing the property at the end of the financial year due to improvements.
## **Trade debtors**
This figure has decreased by £3.3k to £3.1k when compared to March 2020 which is due to the reduction within customer invoicing due to centre being closed.
## **Grant Income/Expenditure (please refer to the departmental report for income/expenditure breakdown)**
The majority of the income and expenditure was on ‘The Big Project’ and a total of £344.7k was received (HLF £224.4k, Power to Change £94k, Viridor £10k, Grantscape £15k & donations £1.3k) in the year. The capital expenditure (property improvements – works finished November 2020) was £441.6k and revenue expenditure of £64.9k (mostly salaries £36.9k and professional fees £24.7k) in the year.
Please note The Kitchen Project (grant of £44.2k received Nov 2020) and the All’s Well Project (grant of £18.4k received Apr 21) have a short time frame and work will be completed on both by Mar 2022.
## **Accounts**
The effect of Covid-19 on the operational figures has been significant though to counteract the negative impact of Covid-19 the trust has been very pro-active in applying for support grants which it continues to do so and has been very successful to date i.e. The Community Kitchen Project and All’s Well. This will no doubt help them through a very tough 2021-22 though it is extremely difficult to predict the full effect of Covid-19 with regards to operational income due to the restriction and the shift to a more flexible work life balance which would incorporate working from home.
## **Risk management**
The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The charity plans to continue the activities outlined above in the forthcoming years. In particular to remain the centre for the local community where individuals and groups can make the most of the wide variety of spaces and activities offered.
## **Structure, governance and management**
The trust is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
- 3 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021**
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Ms H M Reynolds Mr R Coram Ms G Richards Mr A T Hibberd Ms J C Reynolds
## **Recruitment and appointment of trustees**
Under the requirements of the Articles of Association, trustees are elected for a period of three years after which they must be re-elected at the next Annual General Meeting. Trustees annually review the period of service.
The board of trustees regularly discusses the recruitment of new trustees for their experience, empathy and knowledge of the charity, and to keep the skills and composition of the trustee body as a whole and succession planning under review.
All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed by the trustees from the charity are set out in note 8 to the financial statements.
## **Organisational structure**
The charity is administered by a board of directors who are also trustees. The day to day running of the charity is overseen by the Centre Manager, who reports to the trustees.
During the 12 months time period the membership of the Trust increased to 147.
The trustees met for business meetings in December, March, May, July and September.
My final paragraph on this report reads nearly the same as that of last year – uncertainties about the future and the spirit to keep going. As we move forward, rather uncertainly given the Coronavirus pandemic, towards autumn and winter with the Centre re-opening and restarting activities in St David’s, it will be the community spirit and energy that has brought us through 2019 and 2020 that will sustain us, surely. As always, our thanks go to all funders, staff and volunteers who continue to give time, energy and commitment to our activities. There has never been a better time to add the quote from our neighbourhood website. "Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts.
Persistence and determination alone are omnipotent. The slogan 'press on' has solved, and always will solve, the problems of the human race."
## **Calvin Coolidge.**
The trustees' report was approved by the Board of Trustees.
..............................
**Ms H M Reynolds** Trustee Dated: .........................
- 4 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF EXETER COMMUNITY CENTRE TRUST LTD**
I report on the financial statements of the trust for the year ended 31 March 2021, which are set out on pages 6 to 20.
## **Respective responsibilities of trustees and examiner**
The trust’s trustees, who are also the directors of Exeter Community Centre Trust Ltd for the purposes of company law, are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination being a qualified member of ICAEW.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- (i) examine the financial statements under section 145 of the 2011 Act;
- (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- (iii) to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (a) which gives me reasonable cause to believe that in any material respect the requirements:
- (i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- (ii) to prepare financial statements which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;
- have not been met or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Darnells Chartered Accountants
Sean Murphy FCA 3rd Floor The Forum Barnfield Road Exeter Devon EX1 1QR
Dated: .........................
- 5 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021**
|**12 months**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2021**
**2021**
**2021**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**2**
192,156
412,006
604,162
Charitable activities
**3**
53,553
-
53,553
Investments
**4**
108
-
108
**Total income**
245,817
412,006
657,823
**Expenditure on:**
Raising funds
**5**
-
-
-
Charitable activities
**6**
139,920
126,036
265,956
**Total resources expended**
139,920
126,036
265,956
**Net income for the year/**
**Net movement in funds**
105,897
285,970
391,867
Fund balances at 1 April 2020
71,257
948,414
1,019,671
**Fund balances at 31 March 2021**
177,154
1,234,384
1,411,538|18 months
Total
2020
**£**
262,361
364,467
387|
|---|---|
||627,215|
||997|
||443,375|
||444,372|
||182,843
836,828|
||1,019,671|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 6 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2021**
|**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**14**
**Net assets**
**Income funds**
Restricted funds
**15**
Unrestricted funds|**2021**
**£**
**£**
2,109,268
35,120
315,307
350,427
(78,872)
271,555
2,380,823
(969,285)
1,411,538
1,234,384
177,154
1,411,538|**2020**
**£**
**£**
1,683,233
10,488
344,802
355,290
(42,089)
313,201
1,996,434
(976,763)
1,019,671
948,414
71,257
1,019,671|
|---|---|---|
- 7 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **BALANCE SHEET (CONTINUED)**
## **AS AT 31 MARCH 2021**
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
............................................. Ms H M Reynolds
**Trustee**
## **Company Registration No. 07013525**
- 8 -
**EXETER COMMUNITY CENTRE TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1 Accounting policies**
## **Charity information**
Exeter Community Centre Trust Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Wessex House, Teign Road, Newton Abbot, Devon, TQ12 4AA.
## **1.1 Accounting convention**
The accounts have been prepared in accordance with the trust's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
## **1.2 Going concern**
The accounts are prepared on a going concern basis which means that the charity can pay its debts as they fall due for the next twelve months.
The charity is reliant on the continued positive support of its only lender, Futurebuilders England who have being extremely supportive of the project. In the last few years Futurebuilders England have provided a temporary restructuring of the loan interest payable and a capital repayment holiday.
The Trustees of the Charity work extremely closely with Futurebuilders England and have no reason to question their continued support to the project and hence feel it is appropriate to prepare the accounts on a going concern basis.
Due to the pandemic, to a large extent operational income has been replaced by support grants. In addition, the Trust’s major lender has provided support in terms of a capital and interest repayment holiday.
The staff and trustees are working very hard to steer the Trust through these very uncertain times and believe that with the continued support of key stakeholders the Trust will survive and prosper.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.
## **1.4 Incoming resources**
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 9 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **1 Accounting policies**
## **(Continued)**
All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.
Income from donations and grants, including capital grants, is included in incoming resources when these are receivable, except as follows:
- when donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods; and
- when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income;
the income is deferred and not included in incoming resources until the pre-conditions for use have been met.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business and net of discounts.
## **1.5 Resources expended**
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on the accruals basis and includes irrecoverable VAT. Expenditure is allocated to activities on the direct usage basis.
Costs incurred wholly or mainly in support of generating funds, or in support on the objects of the charity and being an integral part of the cost of carry out those activities, are included within Charitable Expenditure as appropriate.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings 50 years straight line Plant and machinery 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Impairment of fixed assets**
At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 10 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **1 Accounting policies**
## **(Continued)**
## **1.9 Financial instruments**
The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## **Derecognition of financial liabilities**
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
## **1.10 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
- 11 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **2 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**£**
**£**
Donations and gifts
11
-
Grants receivable
-
410,497
Grants receivable -
CJRS
72,882
-
Grants receivable other
119,263
-
Other
-
1,509
192,156
412,006|18 months
**Total** Unrestricted
Restricted
funds
funds
**2021**
2020
2020
**£**
£
£
11
370
4,750
410,497
-
252,117
72,882
-
-
119,263
-
-
1,509
-
5,124
604,162
370
261,991|Total
2020
£
5,120
252,117
-
-
5,124|
|---|---|---|
|||262,361|
## **3 Charitable activities**
|**12**
Room hire
Lease & service charges
Sundry income
Ancillary trading income including receipts from catering supplied
Other income|**months**
**18**|**months**|
|---|---|---|
||||
||**2021**
**£**
26,544
27,009
-
-
-
53,553|**2020**
**£**
284,840
70,495
7,907
1,070
155|
|||364,467|
## **4 Investments**
|**Investments**|||
|---|---|---|
|||18 months|
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Interest receivable|108|387|
- 12 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**5**
**6**|**Raising funds**
**12**
Trading costs
Other trading activities including costs of catering supplied
**Charitable activities**
**12**
Staff costs
Depreciation and impairment
Rates and water
Security and facilities
Insurance
Publicity and advertising
Telephone
Heat and light
Cleaning and hygiene
Printing, postage, stationery and computer
Consultancy and subcontractors
Repairs and maintenance
Bad debt expense
Subscriptions
Motor and travelling
Bank charges and loan interest
Sundries
Share of governance costs (see note 7)|**months**
**18**
**2021**
**£**
-
-
**months**
**18**|**months**
**2020**
**£**
997
997
**months**
**2020**
**£**
170,033
72,818
4,558
5,473
8,411
2,792
1,676
34,308
30,485
6,231
67,131
24,193
(1,534)
225
440
6,795
3,624
437,659
5,716
443,375|
|---|---|---|---|
|||||
|||**2021**
**£**
122,242
56,038
1,772
2,679
5,422
803
920
15,403
10,434
2,504
29,872
6,834
-
273
190
4,511
1,826
261,723
4,233
265,956||
- 13 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **6 Charitable activities**
|**Charitable activities**
**Analysis by fund**
Unrestricted funds
Restricted funds|**(Continued)**
139,920
297,851
126,036
145,524
265,956
443,375|**(Continued)**
139,920
297,851
126,036
145,524
265,956
443,375|
|---|---|---|
|||443,375|
## **7 Support costs**
|Accountancy and bookkeeping
Trustee meetings
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
-
4,233
-
-
-
4,233
-
4,233|**2021**
**£**
4,233
-
4,233
4,233|**2020 Basis of**
**allocation**
**£**
4,913
Governance
803
Governance
5,716
5,716|
|---|---|---|---|
Governance costs includes payments to the independent examiners of £2,460 (2020£2,100) for independent examiners fees.
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration during the year, and none of them were reimbursed for mileage (2020 - two were reimbursed for mileage of £6).
## **9 Employees**
The average monthly number of employees during the year was:
|Centre Manager
Support Staff
Total|**2021**
**Number**
1
6
7|**2020**
**Number**
1
5|
|---|---|---|
|||6|
- 14 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**9**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**(Continued)**
**2021**
**2020**
**£**
**£**
115,922
159,039
3,214
7,834
3,106
3,160
122,242
170,033|**(Continued)**
**2021**
**2020**
**£**
**£**
115,922
159,039
3,214
7,834
3,106
3,160
122,242
170,033|
|---|---|---|
|||170,033|
|There were no employees whose annual remuneration was £60,000 or more.
**10**
**Tangible fixed assets**
**Land and**
**buildings**
**£**
**Cost**
At 1 April 2020
1,977,690
Additions
479,793
At 31 March 2021
2,457,483
**Depreciation and impairment**
At 1 April 2020
321,773
Depreciation charged in the year
48,857
At 31 March 2021
370,630
**Carrying amount**
At 31 March 2021
2,086,853
At 31 March 2020
1,655,917
**11**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income|**Plant and**
**machinery**
**£**
124,293
2,280
126,573
96,977
7,181
104,158
22,415
27,316
**2021**
**£**
28,449
6,671
35,120|**Total**
**£**
2,101,983
482,073|
|---|---|---|
|||2,584,056|
|||418,750
56,038|
|||474,788|
|||2,109,268|
|||1,683,233|
|||**2020**
**£**
4,239
6,249|
|||10,488|
- 15 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **12 Loans and overdrafts**
|**Loans and overdrafts**|||
|---|---|---|
|Bank loans
Payable within one year
Payable after one year|**2021**
**£**
988,676
19,391
969,285|**2020**
**£**
996,154|
|||19,391
976,763|
The long-term loans are secured by fixed charges over the property in which the charity operates from.
Bank loans are amounts borrowed from the Social Investment Business (Community Builders Fund) for the refurbishment of the Centre. The bank is being very supportive and only charging a minimal interest rate and has agreed a lower repayment of £2,000 per month, which is significantly less than its original contracted amount.
## **13 Creditors: amounts falling due within one year**
|**Notes**
Bank loans
**12**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**12**|**2021**
**£**
19,391
2,885
33,813
329
22,454
78,872
**2021**
**£**
969,285|**2020**
**£**
19,391
1,782
7,863
329
12,724|
|---|---|---|
|||42,089|
|||**2020**
**£**
976,763|
## **14 Creditors: amounts falling due after more than one year**
- 16 -
##
|**Restricted funds**|The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:|**Movement in funds**
**Movement in funds**|**Balance at**
**Incoming**
**Expenses**
**Transfers**
**Balance at**
**Incoming**
**Expenses**
**Balance at**|**1 April 2019**
**Resources**
**1 April 2020**
**Resources**
**31 March 2021**|**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**|Freehold Land & Buildings
1,615,835
-
(56,420)
-
1,559,415
-
(48,857)
1,510,558|Plant & Machinery
24,681
-
(13,483)
-
11,198
-
(5,614)
5,584|SIB Loans
(909,070)
-
-
29,186
(879,884)
-
-
(879,884)|Peoples Health Trust
6,371
-
-
-
6,371
-
-
6,371|Minor grants
1,115
-
-
-
1,115
-
(1,115)
-|AHF Funding
3,000
-
-
-
3,000
-
(3,000)
-|Grass Roots grant
50,000
-
(50,000)
-
-
-
-
-|Postcode Lottery grant
8,445
-
(1,784)
-
6,661
-
-
6,661|HLF grant
2,298
21,050
(22,062)
-
1,286
234,408
(17,490)
218,204|ECC Grass Roots
86
9,874
-
-
9,960
-
(9,960)
-|Power to Change grant
-
110,567
(1,775)
-
108,792
134,090
-
242,882|MOTO grant
-
500
-
-
500
-
-
500|Co-Op grant
-
40,000
-
-
40,000
-
(40,000)
-|ECC Strategic Grant
-
80,000
-
-
80,000
6,600
-
86,600|Grantscape
-
-
-
-
-
15,000
-
15,000|Gallaghers Charities Trust
-
-
-
-
-
2,000
-
2,000|Donations
-
-
-
-
-
1,509
-
1,509|Arts Council Grant
-
-
-
-
-
18,399
-
18,399|802,761
261,991
(145,524)
29,186
948,414
412,006
(126,036)
1,234,384|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**15**|||||||||||||||||||||||||
##
##
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**16**
**Analysis of net assets between funds**
**Unrestricted**
**Restricted**
**2021**
**2021**
**£**
**£**
Fund balances at 31
March 2021 are
represented by:
Tangible assets
18,273
2,090,995
Current assets/
(liabilities)
105,183
166,372
Long term liabilities
(116,613)
(852,672)
6,843
1,404,695|**Total** Unrestricted
**2021**
2020
**£**
£
2,109,268
112,620
271,555
74,907
(969,285)
(116,270)
1,411,538
71,257|Restricted
2020
£
1,570,613
238,294
(860,493)
948,414|Total
2020
£
1,683,233
313,201
(976,763)
1,019,671|
|---|---|---|---|
- 19 -
## **EXETER COMMUNITY CENTRE TRUST LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **17 Operating lease commitments**
At the reporting end date the trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years|**2021**
**£**
1,015
1,015
2,030|**2020**
**£**
1,015
2,280|
|---|---|---|
|||3,295|
## **18 Related party transactions**
## **Remuneration of key management personnel**
The key management personnel of the charity comprise the managers. The total remuneration of key management personnel during the period was:
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Aggregate compensation|31,111|48,062|
## **Transactions with related parties**
In line with Charity’s procurement policy and following a review of a number of quotes for IT work, services of Invisiona Ltd, a company controlled by one of the Trustees at a time of the transaction, were selected to provide IT services to the charity. IT services provided totalled £nil (2020: £4,873. At 31 March 2021 there were no balances due to or from related parties (2020: £nil).
- 20 -