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2021-03-31-accounts

Hinckley Club for Young People Ltd

UNAUDITED FINANCIAL STATEMENTS For the year to 31 March 2021

Charity Reg No 1137126 (A Company limited by Guarantee 07276097)

Hinckley Club for Young People Ltd Financial Statements for the year to 31 March 2021 Contents

Page 9
Page 7
Page 8
Page 6
Page 4
Page 5
Page 2/3
Page 1
Page		 Notes to the Financial Statements (Continued)
Notes to the Financial Statements - Accounting Policies
Notes to the Financial Statements (Continued)
Balance Sheet
Independent Examiners Report
Statement of Financial Activities
Directors Trustees' Report
Company Information
Contents

Hinckley Club for Young People Ltd Financial Statements for the year to 31 March 2021 Company Information

Directors & Officers Reg Green Chairman Mark Harvey Treasurer Joel Green Address Green Towers Richmond Road Hinckley Leicestershire LE10 0DZ Registered Office 87 Main Street Newtown Linford Leicestershire LE6 0AF

Independent Examiner A Pearson FCMA Exec Practice 87 Main Street Newtown Linford Leicestershire LE6 0AF

Page 1

Hinckley Club for Young People Ltd Financial Statements for the year to 31 March 2021 Directors Trustees' Report (1)

The Directors, who are also trustees have pleasure in presenting their report and financial statements for the year ended 31 March 2021.

Constitution

Hinckley Club for Young People Ltd (incorporated 07 June 2010) is a charity and a company limited by guarantee, and does not have a share capital. It is governed by its Memorandum and Articles of Association.

Objectives & Policies of the Charity

To advance the conditions of life and relieve the needs of young people through:

(a) The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;

(b) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

c) To help develop the mental and spiritual capacities of young people;

To help young people, especially but not exclusively through leisure time activities, so as to develop their capabilities that they may grow to full maturity as individuals and members of society.

To act as a resource for young people by providing advice and assistance and organising programmes of physical, educational and other activities as a means of:

(a) advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;

(b) providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.

Directors & Trustees

Directors who have held office are also Trustees of the charity as follows

Reg Green (Chairman) Mark Harvey (Treasurer) Joel Green

Subject to appointments at the Annual General Meeting the directors shall appoint members and committees to control of the affairs of the Club and may delegate any part of its duties to such committees. Without prejudice to the generality of the foregoing, the Directors powers shall include the appointment, control and dismissal of all members and staff.

Review of the Business

The charity reported an excess of expenditure over income of £22,038 ( £32,862) for the year, .

Hinckley Clubs for Young People Ltd opened on 09 October 2010. Further information regarding the clubs activities is contained in the 'Trustees Annual Report'. The Charity aims to operate on a sustainable basis supported by the revenues from commercial lettings and social activities to support the day to day running costs of the building. However Fund Raising, Grants and Donations will continue to be a necessary stream of Income to support the ongoing development and maintenance of facilities

The Trustees are satisfied that the club has adequate resources to continue operating as a 'Going Concern for the forseeable future.

Reserves Policy

The Reserve Policy agreed by the Committee is to maintain Unrestricted Funds in the form of bank deposits.The committee has reviewed its Reserves Policy and has agreed to Designate Funds of £5,000 per annum over the next 10 years as a contingency and in recognition of the future Building Refurbishment that will be necessary to maintain the condition of the building and its supporting services to the high standard that it currently enjoys.

Page 2

Hinckley Club for Young People Ltd Financial Statements for the year to 31 March 2021 Directors Trustees' Report (2)

Public Interest

The Directors and Committees' aims to ensure management systems are in place to ensure that correct procedures are maintained for the safe operation of activities throughout the club. Activities are planned which provide broad interest for all club members in the locality of the club

The Committees' 'Quality Assurance' sub committee is committed to raise standards and safeguard young people. As part of this review, management systems are in place to ensure that correct procedures are maintained for the safe operation of activities throughout the Association

Statement of Trustees Responsibilities

The Trustees are required as a charity and under the Companies Act 2006 and Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the affairs of the company and disclose the net income or expenditure of the charity for that period and

The Trustees are also responsible for:

Small Company Exemptions

In preparing the report the directors have taken advantage of the small companys exemptions in Part 15 of the Companies Act 2006

Approved by the Trustees on , and signed on its behalf by:

Reg Green Director Chairman Mark Harvey Director Treasurer

Page 3

Hinckley Club for Young People Ltd Financial Statements for the year to 31 March 2021 Independent Examiners Report

Independent Examiners Report to the Trustees

I report on the accounts of the company for the year ended 31 March 2021 which which are set out on pages 5 to 9

Responsibilities and basis of Reports

As trustees' (and directors of the company for company law) you are reponsible for the preparation of the accounts in accordance with the Companies Act 2006 ("the 2006 Act"). I am qualified to undertake the independent examination, by being a qualified member of CIMA.

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiners Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attenttion should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

signed

Mr A Pearson FCMA

Exec Practice Ltd 87 Main Street Newtown Linford Leicestershire LE6 0AF

Date:

Page 4

Hinckley Club for Young People Ltd Financial Statements for the year to 31 March 2021 Statement of Financial Activities

Note
Incoming Resources
Grants & Donations
2
Charitable Activities
3
Gift Aid
Other incoming resources
Investment Income
Total Income
Resources expended
Raising Funds
Activities
Snack Bar Purchases
Salaries & Pensions
5
Charitable Activities
Salaries & Pensions
5
Post, Office & Telephone
Advertising
Rent & Rates
Light & Heat
Cleaning & Maintenance
Repairs & Renewals
Waste Disposal
Travel & Subsistence
IT Costs
Licences
Volunteer Exps
Insurance
Affiliations
Training
Legal & Professional Fees
Sundry Expenses
Bank Charges
Depreciation
Other Costs
Accountancy Charges
Total Expenditure
Net Income/(Expenditure) for the Year
Net movements for the year
Accumulated Reserves b/f
Prior Year Adjustment
Total Reserves		 £
£
£
Unrestricted
Restricted
Total
Funds
Funds
2021		 £
Total
2020
122,777
-
122,777
42,625
-
42,625
1,132
1,132
-
-
-
31
-
31		 60,363
191,507
-
165
166,565
-
166,565		 252,035
25
-
25
3,559
-
3,559
3,637
3,637		 5,069
25,581
19,813
7,221
-
7,221		 50,463
86,572
-
86,572
419
-
419
-
-
-
-
-
-
16,420
-
16,420
2,291
-
2,291
11,300
11,300
814
814
-
-
-
2,057
-
2,057
147
147
25
25
8,558
-
8,558
-
-
-
60
-
60
1,530
-
1,530
748
-
748
977
-
977
14,772
28,740
43,512		 86,264
984
168
12,256
30,562
1,121
22,120
1,954
84
2,381
2,276
1,862
8,109
150
300
1,636
22
2,208
44,668
146,690
28,740
175,430
4,240
-
4,240		 219,125
4,485
158,151
28,740
186,891		 274,073
8,414
(28,740)
(20,326)		 (22,038)
8,414
(28,740)
(20,326)
290,081
30,318
320,399
(150)
(150)		 (22,038)
342,437
-
298,345
1,578
299,923		 320,399

Page 5

Hinckley Club for Young People Ltd Financial Statements for the year to 31 March 2021 Balance Sheet

Note
Assets
Fixed Assets
4
Current Assets
Stock
6
Debtors & Prepayments
Cash at Bank and in hand
Less Current Liabilities
Creditors less than one year
7
Net Current Assets
Total Assets less Current Liabilities
Reserves
Designated Funds
Unrestricted funds
Restricted funds
8
Total Reserves		 £
£
£
Unrestricted
Restricted
Total
Funds
Funds
2021
152,413
1,578
153,991
1,196
-
1,196
2,393
-
2,393
150,042
-
150,042
153,631
-
153,631
(7,700)
-
(7,700)
145,931
-
145,931
298,344
1,578
299,922
40,000
-
40,000
258,344
-
258,344
-
1,578
1,578
298,344
1,578
299,922		 £
Total
2020
197,503
1,671
12,517
119,485
133,673
(10,777)
122,896
320,399
35,000
255,081
30,318
320,399

For the year ended 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilitiy for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

Approved by the Trustees on , and signed on its behalf by:

Reg Green Chairman Mark Harvey Treasurer

Page 6

Hinckley Club for Young People Ltd Financial Statements for the year to 31 March 2021 Notes to the Financial Statements

1 Accounting Policies

1.1a Basis of preparation

The charity is a 'public benefit entity'. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

1.1b ) Preparation of the accounts on a going concern basis

The Charity reported a Deficit of £20,326 for the year ended 31 March 2021. The trustees are of the view, that given the Charity's reserve position, and outlook of support for the next 12 months, that the charity is a going concern.

1.2 Resources Expended

Expenditure is accounted for on an accrual basis.

1.3 Donations and Voluntary Income

Donations and Voluntary Income are accounted for when received.

1.4 Grants Receivable

Grants for immediate expenditure are accounted for when they become receivable. Grants received for specific purposes are treated as restricted funds.

1.5 Grants Payable

Grants Payable are accounted for when they are paid.

1.6 Allocation of Costs

Costs are shown and allocated between Cost of Generating Funds, Charitable Activities and Governance costs, in accordance with the Chariry SORP. Where items involve more than one category they are apportioned between categories according to the nature of cost

1.7 Fixed Assets and Depreciation

Fixed Assets for charity use are capitalised at cost, or valuation if donated. Depreciation is calculated to write off the assets. Less their estimated residual value, over their useful lives on the following basis: Land and Buildings are held under an operating lease date April 2009 (35 years) no rent is payable and there is an option to extend the lease thereafter

FFE Depreciation 10 years straight line basis

Depreciation commences in the year after purchase or commissioning

1.8 Comparative Figures

Comparative Costs are re-stated as applicable to aligne with the year reported.

2 Grants and Donations

During the year the charity received the following voluntary income

£
£
£
Unrestricted
Restricted
Total
2021
HBBC
28,714
-
28,714
CJRS Furlough Grant
54,782
-
54,782
HBBC
22-May
8,000
-
8,000
LCC
15-Apr
12,412
-
12,412
Next Generation
4,000
-
4,000
HBBC?
10-Mar
3,000
-
3,000
-
Other Grants & Donations
11,869
-
11,869
Total
122,777
-
122,777
~~Page 7~~		 £
Total
2020
35,000
-
25,363
60,363

Hinckley Club for Young People Ltd Financial Statements for the year to 31 March 2021 Notes to the Financial Statements

3
Activities for Generating Funds
Membership & Subscriptions
Snack Bar
Bar Rent
Catering Income & Rent
Room Hire
Other
Total		 2021
75
2,007
905
130
39,186
322
42,625		 2020
31,164
32,635
2,411
3,141
119,698
2,458
191,507

4 Fixed Assets

Fixed Assets
Net Book value b/f
Additions
Disposals
Depreciation
Net Book value c/f		 £
£
£
Equipment
Vehicles
Total
Unrestricted Restricted
Unrestricted Restricted
Unrestricted Restricted
167,185
30,318
-
-
167,185
30,318
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(14,772)
(28,740)
-
-
(14,772)
(28,740)
-
152,413
1,578
-
-
152,413
1,578
5
Staff costs
Number of employees:
The average number of paid
employees during the year were:
Employment costs:
Wages and salaries
Employers national insurance
Pension contributions		 2021
13
85,498
4,221
490
90,209		 2020
13
101,535
4,412
130
106,077

No employee received remuneration amounting to more than £60,000 in either year. Staff directly associated with Club Activities are shown under Cost of Generating Voluntary Income

6 Stocks

Stocks are valued at the lower of cost or market value

Page 8

Hinckley Club for Young People Ltd Financial Statements for the year to 31 March 2021 Notes to the Financial Statements

2021
7
Creditors : amounts falling due within one year
Accruals
7,700
7,700
8
Analysis of Net Funds
Designated
Unrestricted
Restricted
Fixed Assets
-
152,413
1,578
Current Assets
40,000
113,631
-
Current Liabilities
-
(7,700)
-
Fund balance
40,000
258,344
1,578		 2021
7
Creditors : amounts falling due within one year
Accruals
7,700
7,700
8
Analysis of Net Funds
Designated
Unrestricted
Restricted
Fixed Assets
-
152,413
1,578
Current Assets
40,000
113,631
-
Current Liabilities
-
(7,700)
-
Fund balance
40,000
258,344
1,578		 2020
10,777
10,777
Total
153,991
153,631
(7,700)
40,000
258,344
1,578		 299,922

The Directors have agreed to Designate Funds £5,000 pa towards the anticipated major future refurbishment of the building, the Designated Fund balance at 31 March 2021 is £40,000

9 Transactions with Director Trustees & Related Parties

The Chairman Mr R Green rents the Bar Facility from the club.

The rent payable under a tenancy agreement is reviewed each year and as applicable voted in accordance with the company's memorandum and articles. For 2020/21 Mr R Green continued to pay 60% of all Bar Surpluses to the club in respect of Rent.

Mrs Janet Harvey, wife of Mr M Harvey Treasurer provides administration services to the value of £ 720 (2020 £720) during the year

No other Trustees received remuneration or reimbursed expenses during the year.

Page 9