SNAP DEVELOPMENT PROJECT
COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS
FOR
31 MARCH 2021
Company Registration Number 6786578 Charity Number 1136223
SNAP DEVELOPMENT PROJECT
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
| Contents | Page |
|---|---|
| Members of the board and professional advisers | 3 |
| Trustees’ annual report | 4-6 |
| Independent Examiner’s report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10-16 |
SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
The board of Directors
S. Ali Rev.S. Potter (Resigned 1 November 2021) T. Cannon O. Reynolds M. Mangold
Registered office
34-40 High Street South Normanton Derbyshire DE55 2BP
Independent Examiner
Derby Community Accountancy Service Babington Lodge 128 Green lane Derby DE1 1RY.
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
The trustees, who are also Directors for the purposes of the Companies Act, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
OBJECTIVES AND ACTIVITIES
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1 To promote general charitable purposes according to the laws of England and Wales for the benefit of the public, particularly but not exclusively the area of South Normanton and Pinxton (the area of benefit) and to provide relief from financial hardship and economic disadvantage; to advance the education and training of its residents of all ages and to relieve unemployment; and in particular to provide opportunities for the aforementioned residents to participate fully in the life of their community in ways which address and alleviate social and economic disadvantage.
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2 To promote the benefit of the inhabitants of the area of benefit, the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in interests of social welfare and with the object of improving the conditions of life of the said inhabitants
-
.
SUMMARY OF THE MAIN ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT IN RELATION TO THESE OBJECTS
In planning our activities for the year we kept in mind the Charity Commission’s guidance on public benefit at our trustees meetings.
SNAP Development Project is open to engaging with all community stakeholder groups and organisations as well as individual community members irrespective of race, gender or any other personal circumstances.
ACHIEVEMENTS AND PERFORMANCE
SNaP Youth continues to serve the needs of young people living in the community of South Normanton and Pinxton. With thanks to South Normanton Community Church, for allowing the charity to use the Thrieve building, SNaP Youth provides a dedicated space for young people to spend their free time, allowing them to participate in a variety of structured youth work sessions and opportunities all year-round. However, in March 2020 the charity was forced by law to change and adapt the delivery of youth provision as a response to the Covid-19 pandemic. Ensuring that young people were kept safe and socially distanced has been a real challenge to the youth work team, who had always used the tried and tested youth work method of ‘befriending young people through face-to-face voluntary relationships’ to effectively bring young people together and support them to engage in informal education activities.
Covid-19 has forced us all to re-think our delivery and how we operate as a charity to safely serve local young people, and I’m pleased to report that the majority of young people have responded resiliently to the transition towards outreach and digital methods of engagement.
Providing opportunities for young people that support their personal and social development, improve their health and wellbeing and inspire them with a vision for life is at the core of our work, and as we move into 2021-2022 we are more than ever determined to provide the very best provision to all local young people simply because they are young people, who deserve services
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
in their community. This said, we will continue to support those most in need, challenge injustice and oppression, and empower those young people who feel unvalued and marginalised – we pledge to do all we can to ensure that these young people are not inhibited from engaging in the wider society.
Amplifying the voices of young people on issues they care about and involving them in decisionmaking, empowers young people to play a vital role in their own development and the development of their community. This year I have had the pleasure of observing the SNaP Youth forum and watching a group of young people develop in confidence as they engaged with the democratic process, showing respect to others, and making decisions on behalf of their peers. Through active participation, SNaP Youth aims to harness the passion and enthusiasm of young people and show how they can make a demonstratable change in the development of future youth projects and the direction of the charity.
There are so much SNaP Youth wants for local young people, for example we want them to be safe and supported with high quality information and guidance. We want them to develop skills, gain a greater confidence, be ambitious for their future and participate in their communities. We recognise that the list could go on and on but can only be achieved with the financial backing of grant funders who believe in the work that we are doing. It is with gratitude to our current grant funders, namely Reaching Communities Fund (BIG Lottery) and The CO-OPerative, that we can meet the needs of local young people and achieve positive outcomes. On behalf of the charity, I would like to extend my sincere thanks to the panel members who decide to invest funds with SNaP Youth so that the dedicated board of trustees and the staff team can do what they love doing – Delivering Great Youth Work Provision to Local Young People!
22/11/2021
FINANCIAL REVIEW
Reserves Policy
The charity has a reserves policy to hold three months running costs in reserves. At 31 March 2020 the charity had unrestricted reserves of £19,950.
STRUCTURE , GOVERNANCE AND MANAGEMENT
Governing document
SNAP Development Project operates from 34 High Street, South Normanton, Alfreton, Derbyshire which is the company's registered office and the principal address of the charity. SNAP Development Project is a company limited by guarantee and not having a share capital (company registration No. 6786578) and Registered Charity (No. 1136223).This is in accordance with the charity's governing document, the Memorandum and Articles of Association,
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
incorporated on 9 January 2009 as amended by special resolution dated 21 June 2010.
Trustee selection methods
A skills audit has been undertaken to discover those skills which are required by the trustee body. Efforts are made to recruit trustees who meet the skill requirement. Emphasis has been placed on recruitment of trustees who have experience of youth work and strategic governance of VSC organisations.
Risk management policy
The trustees examine the major risks that the charity faces each financial year when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the charity in the future.
Independent Examiner
Derby Community Accountancy Service was appointed independent examiner in the year. Derby Community Accountancy Service will continue in office as independent examiner for the ensuing year.
Small company provisions
This report has been prepared in accordance with the special provisions for small companies under section 477 of the Companies Act 2006.
Registered office: 34-40 High Street South Normanton Derbyshire DE55 2BP
Signed on behalf of the trustees S. Ali Trustee
Approved by the trustees on
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
YEAR ENDED 31 MARCH 2021
Independent Examiner's Report to the Trustees of SNAP Development Project
I report on the accounts of the company for the year ended 31 March 2021 which are set out on pages 8 to 16 .
Respective responsibilities of Trustees and examiner
The Trustees (who are also the Directors of the Company 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.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act, as amended); and
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state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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1 Which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare accounts 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
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have not been met; or
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2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Name: Mark Newey ACMA
Address: Derby Community Accountancy Service, Babington Lodge, 128 Green Lane, Derby.
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2021
| Total Funds | Total Funds | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Year to 31 | Year to 31 | ||
| Funds | Funds | Mar 2021 | Mar 2020 | ||
| Note | £ |
£ | £ | £ | |
| Income from: | |||||
| Donations | 3 | - | 200 | 200 | - |
| Investment income | 5 | 9 | - | 9 | 37 |
| Grant receivable | 4 | - | 170,013 | 170,013 | 130,727 |
| Other income | - |
- |
- |
3,675 |
|
| Total incoming resources | 9 |
170,213 |
170,222 |
134,439 |
|
| Expenditure on | |||||
| Raising Funds | - | - | - | - | |
| Charitable activities | 5,083 |
94,774 |
99,857 |
141,921 |
|
| Total resources expended | 6 | 5,083 |
94,774 |
99,857 |
141,921 |
| Net incoming/(outgoing) | |||||
| resources before transfers | (5,074) | 75,439 | 70,365 | (7,482) | |
| Transfer between funds | - |
- |
- |
- |
|
| Net movement in funds | (5,074) | 75,439 | 70,365 | (7,482) | |
| Funds brought forward | 25,024 |
49,126 |
74,150 |
81,632 |
|
| Funds carried forward | 19,950 |
124,565 |
144,515 |
74,150 |
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The notes on pages 10 to 16 form part of these financial statements.
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
31 MARCH 2021
| Note Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Net assets Funds Restricted 12 Unrestricted – general reserves 12 TOTAL FUNDS |
2021 £ - 144,515 144,515 - |
£ 144,515 144,515 144,515 124,565 19,950 144,515 |
2020 £ - 75,065 75,065 (915) |
£ 74,150 74,150 74,150 49,126 25,024 74,150 |
|---|---|---|---|---|
For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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(i) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
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(ii) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
These financial statements were approved and authorised for issue by the members of the committee and are signed on their behalf by:
T. Cannon Date Director
Company Registration Number: 6786578
The notes on pages 10 to 16 form part of these financial statements.
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
1. Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Company information
Snap Development Project is a company limited by guarantee not having a share capital. The company’s registered office is, 34-40 High Street, South Normanton, Derbyshire, DE55 2BP At the end of the year there were 5 Trustees, each of whom, under the terms of the Memorandum and Articles of Association, had undertaken to contribute the sum not exceeding £1 in the event of a winding up of the company.
1.1 Accounting convention
These accounts have been prepared in accordance with FRS 102, “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it apples from 1 January 2015. The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in Sterling which is the functional currency of the company Monetary amounts in these financial statements to the nearest £.
The accounts have been prepared on historical cost convention apart from freehold property that is carried at market value. The principal accounting policies adopted are set out below.
The accounts are prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2015.
1.2 Going concern
At the time of approving the accounts, the Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Charitable Funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
1.4 Incoming resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in kind have been included at market value of gifts received and in assets acquired. No amounts are included in the financial statements for services donated by volunteers.
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in the support of the charitable activities.
1.6 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 Cash and cash equivalents
- Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Creditors and provisions
Creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
1.9 Financial instruments
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Taxation
The charity is exempt from tax on income and gains falling with section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
1.12 Depreciation
Individual fixed assets are capitalised at cost and are depreciated over their estimated useful economic lives on a reducing balance basis as follows:-
Asset category Annual rate Equipment 25% Fixtures and Fittings 25%
2 Critical accounting estimates and judgements
- In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimated and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
3. Donations
| Total Funds | Total Funds | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Year to 31 | Year to 31 | |
| Funds | Funds | Mar 2021 | Mar 2020 | |
| £ | £ | £ | £ | |
| Donations | - |
- |
200 |
- |
| - |
- |
200 |
- |
4. Grants
| Total Funds | Total Funds | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Year to 31 | Year to 31 | |
| Funds | Funds | Mar 2021 | Mar 2020 | |
| £ | £ | £ | £ | |
| Reaching Communities | - | 95,074 | 95,074 | 90,602 |
| Children in Need | - | - | - | 34,055 |
| Co-op | - | 1,959 | 1,959 | 90 |
| South Normanton Parish Council | - | - | - | 5,000 |
| Bolsover Partnership | - | - | - | 980 |
| HM Revenue and Customs | - | 69,980 | 69,980 | - |
| Bassetlaw PCC | - | 1,000 | 1,000 | - |
| Derbyshire County Council | - |
2,000 |
2,000 |
- |
| - |
170,013 |
170,013 |
130,727 |
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
5. Interest receivable
| Year to 31 Mar 2021 £ Bank interest receivable (unrestricted) 9 Total resources expended Staff costs Professional fees Training & conferences Insurance Telephone Equipment costs Stationery & postage Print, publications & copying Hospitality Travel and expenses Rent and room hire Resources and materials Activities & trips Sundry costs |
Total Funds Year to 31 Mar 2021 £ 91,362 1,436 648 - 506 144 215 - 164 6 4,277 1,099 - - 99,857 |
Year to 31 Mar 2020 £ 37 Total Funds Year to 31 Mar 2020 £ 119,167 1,596 6,355 1,190 383 663 165 275 466 575 4,404 2,334 4,348 - 141,921 |
|---|---|---|
6. Total resources expended
Expenditure on charitable activities was £99,857 (2020: £141,921) of which £94,776 was restricted (2020 £138,923)
7. Net (expenditure)/income
Net (expenditure)/income for the year is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Independent Examiner’s Fees | 730 | 710 |
| =========================== | ================================ |
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
8. Directors and key management personnel
During the year Trustees did not receive remuneration
The key management personnel of the charity consist of the Trustees, professional advisors and the Chief Executive Officer
9. Employees
No employee earned more than £60,000 per annum. No Trustees were reimbursed for expenditure.
The average number of staff employed by the charity during the financial year amounted to:
| Year to | Year to | |
|---|---|---|
| 31 Mar | 31 Mar | |
| 2021 | 2020 | |
| No | No | |
| Direct Charitable Staff | 6 | 8 |
| Governance | - | - |
| 6 |
8 |
|
| aggregate payroll costs were: | ||
| Year to 31 | Year to 31 | |
| Mar 2021 | Mar 2020 | |
| £ | £ | |
| Wages and salaries | 84,715 | 109,074 |
| Social security costs | 1,850 | 4,796 |
| Pension costs | 4,797 |
5,297 |
| 91,362 |
119,167 |
|
| Debtors | ||
| 2021 | 2020 | |
| £ | £ | |
| Trade debtors | - |
- |
| -------------------------------- | -------------------------------- | |
| - | - | |
| ================================ | ================================ |
The aggregate payroll costs were:
10. Debtors
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
11. Creditors: Amounts falling due within one year
| Salaries Statement of funds General reserve Designated reserve Total unrestricted funds Reaching Communities Children in Need Youth Development Fund Co op Toyota Bolsover Partnership South Normanton Parish Council Bassetlaw Police and Crime Commission Derbyshire County Council Youth Action HMRC Job Retention Scheme 0Total restricted funds Total funds |
2021 2020 £ £ - 915 -------------------------------- -------------------------------- - 915 ================================ ================================ At 1 April 2020 Incoming Outgoing Transfers At 31March 2021 £ £ £ £ £ 25,024 9 (5,083) - 19,950 - - - - - 25,024 9 (5,083) - 19,950 32,349 95,074 (23,520) - 103,903 3,309 - - - 3,309 4,442 200 (1,274) - 3,368 2,324 1,959 - - 4,283 1,000 - - - 1,000 868 - - - 868 4,834 - - - 4,834 - 1,000 - - 1,000 - 2,000 - - 2,000 - 69,980 (69,980) - - 49,126 170,213 (94,774) - 124,565 74,150 170,222 (99,857) - 144,515 |
|---|---|
12. Statement of funds
Restricted Funds
The Reaching Communities 2 money was spent on facilitating the base Youth Club in South Normanton, and mentoring and detached youth work.
Children in Need money was spent on delivering sport and youth club sessions in Pinxton.
The Youth Development Work money was spent on activities with young people.
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SNAP DEVELOPMENT PROJECT COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
Co-Op - this fund has been used to facilitate a series of youth cooking sessions. the young people have really enjoyed preparing ingredients, cooking and eating what they have cooked socially with others.
The Toyota money was to be spent on refurbishing the base Youth Club.
Bolsover Partnership money was for a cook and eat project.
South Normanton Parish Council money was spent om youth work.
Bassetlaw Police and Crime Commission workshops for young people discus all aspects of crime Derbyshire County Council Youth Action funding is to be used to facilitate training for staff members.
HMRC Job Retention Scheme money was spent costs supporting wage costs
13. Analysis of net assets
| Tangible fixed assets Other net assets Unrestricted funds £ £ General reserve - 19,950 Designated Funds - - Restricted funds Reaching Communities - 103,903 Children in Need - 3,309 Toyota - 1,000 Youth Development Fund - 3,368 Co op - 4,283 Bolsover Partnership - 868 South Normanton Parish Council - 4,834 Bassetlaw Police and Crime Commission - 1,000 Derbyshire County Council Youth Action 2,000 Total restricted funds - 124,565 Total funds - 144,515 |
Total £ 19,950 - 103,903 3,309 1,000 3,368 4,283 868 4,834 1,000 2,000 |
|---|---|
| 124,565 |
|
| 144,515 |
14. Related party transactions
The charity had no related party transactions that required disclosure.
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