COMPANY REGISTRATION NUMBER: 06983485 CHARITY REGISTRATION NUMBER: 1137554 

THE CHANTRY CENTRE (A Company Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 



## THE CHANTRY CENTRE (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS 

## YEAR ENDED 31 AUGUST 2021 

**Registered charity name** The Chantry Centre **Charity registration number** 1137554 **Company registration number** 06983485 **Principal office and** 34-36 Long Street **Registered Address** Dursley Gloucestershire GL11 4JB **Trustees** The trustees, who are also directors for the purposes of company law, who served the during the year and up to the date of this report were as follows: Mrs A M Jones Mr A P Judge - Chair Dr A R R Telford Mr B F Walker Mr G A Wheeler - Vice Chair **Secretary** A P Judge **Bankers** Lloyds Bank plc Rowcroft Stroud Gloucestershire GL5 3BG **Independent Examiner** I.G. Lansdown BSc ACA Azets Prospect House 5 May Lane Dursley Gloucestershire GL11 4JH 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) REPORT OF THE TRUSTEES 

## YEAR ENDED 31 AUGUST 2021 

The Trustees present their annual report together with the financial statements for the charitable company for the year ended 31 August 2021. 

Reference and administrative information set out on page 2 forms part of this report. The financial statements comply with current regulatory requirements, the Memorandum and Articles of Association and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - second edition October 2019 – (Charities SORP (FRS 102)). 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## _**Governing document:**_ 

The Chantry Centre is a company limited by guarantee (registered number 06983485) is controlled by its governing document, its Memorandum and Articles of Association dated 6 August 2009 and is registered as a charity with the Charity Commission. 

## _**Organisational Structure:**_ 

To manage certain commercial activities, The Chantry Centre has a wholly owned trading company limited by shares, The Chantry Centre Trading Company Limited (Company Number 07396495). Its principal activity is the operation of the licensed bar facilities. 

## _**Risk Management:**_ 

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 

## **MISSION, OBJECTIVES AND ACTIVITIES** 

The principal objective of The Chantry Centre is to _“advance education, health and amateur sport and to provide facilities in the interests of social welfare for recreation and leisure time occupation”_ for the inhabitants of Dursley and surrounding parishes. 

To achieve this objective The Chantry Centre makes its existing building and grounds in Long Street, Dursley (comprising of the Lister Hall and supporting facilities and rooms) available for local community groups and performing arts. The Chantry Centre is engaged in a long term programme to refurbish, repair where necessary and make conversions to these facilities to make them suitable for as wide a range of activities as possible. 

## **PUBLIC BENEFIT** 

In planning The Chantry Centre’s activities for the period, the Trustees have kept in mind the Charity Commission's guidance on public benefit. The focus of The Chantry Centre’s activities during the period, which explains the delivery by the charity of public benefit, is set out below under “Achievements and Performance” and above under “Mission, Objectives and Activities”. 

## **ACHIEVEMENTS AND PERFORMANCE** 

As Government coronavirus restrictions were eased, the Chantry Centre cautiously re-opened in July and August 2020, only to subsequently close and in practice the Chantry Centre did not fully operate at any point during the financial year. 

Over the financial period the Chantry Centre was to weather the storm thanks to the furlough scheme for its trading subsidiary (and in particular the ability to “part time” furlough staff) and various coronavirus grants from Stroud District Council. 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) REPORT OF THE TRUSTEES 

## YEAR ENDED 31 AUGUST 2021 

As a result for much of the year the Chantry Centre was, with the exception of hosting the Dursley distribution hub for the Stroud Foodbank, unable to fulfil its wider charitable objects. The quieter periods did allow for some further maintenance and refurbishment work. 

One of the key developments during the year was the creation and management of the Garden Café, solely through the hard work and dedication of volunteers. It has already become an integral part of the Chantry Centre and has started to attract new users and become a valuable  source of additional funds. The volunteer led Garden group also contributed greatly during the year and the Flower and Produce Show in particular was a real success this year. 

During the year the Trustees identified that the Charity’s business plan needed to be updated to reflect changing demand patterns, in part as a result of the pandemic.  Some external funding was secured to assist the development of new plans including new vision and mission statements to better reflect the purpose of the Chantry Centre. 

**Vision** – _To be a vibrant hub at the heart of your community._ 

**Mission** – _A safe and welcoming centre for the community, supporting opportunities which enrich the lives of our diverse neighbourhood and supporting people to connect, engage and grow._ 

The updating of the Business Plan has proved to be very timely as, after many years of waiting, the £200,000 of Section 106 funding from Stroud District Council relating to the Littlecombe development were confirmed as being available post year end. 

The Business Plan will be critical to securing additional finance for the refurbishment of the Chantry Centre – where the preliminary estimate is a requirement for a total of at least £500,000. 

The refurbishment plans are based on developments which: 

- Reduce operating costs; 

- Improve accessibility; 

- Make the Chantry Centre more welcoming; 

- Increase the range of potential hire income including ability for concurrent use. 

The Trustees are looking to expand the number of Trustees and in the coming year plan to put in place new organisational arrangements to ensure the successful delivery of the refurbishment project. 

## **FINANCIAL REVIEW** 

Not surprisingly, during the year room hire revenue fell a further 30% on the previous year reflecting the effects of the pandemic. 

Grant funding of £38,340 was received from Stroud District Council and £6,000 from Dursley Town Council to help support the Chantry Centre through the period. In recognition of the exceptional nature of the circumstances, the Trustees decided to transfer 25% of the Stroud District Council funding to the trading subsidiary to ensure its ongoing solvency. The Chantry Centre was also supported through this period by various private donations, including through its Friends scheme. 

From a cost perspective, reduced activity meant that savings were achieved during the year with respect to light, heat and power and building management costs. The Chantry Centre also continued to benefit from business and water rates holidays. 

The net effect is that total income exceeded expenditure during the year by £36.798. With more than £75,000 in the bank at the end of the financial year the Trustees are confident of the ability of the Chantry Centre to remain financially viable for the foreseeable future. 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) REPORT OF THE TRUSTEES 

## YEAR ENDED 31 AUGUST 2021 

## **RESERVES POLICY** 

As at the year end the Chantry Centre held reserves of £66,763. 

The Trustees have carried out an assessment of risks and developed a reserves policy, designating funds required to cover the following potential future cost risks: 

- Designated maintenance costs; 

- Designated reserves for running costs in the event of the unexpected inability of the Chantry Centre to generate any income for a period of 6 months; 

- • Dissolution costs. 

It has been estimated that to meet the largest of these potential future liabilities would require £29,850. 

## **CONTINGENCIES AND SUBSEQUENT EVENTS** 

There have been no matters that impact on the accounts or the disclosures therein in the period from the year end 31 August 2021 until the date these accounts were approved by the Trustees. 

## **STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES** 

The Trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of The Chantry Centre and the incoming resources and application of resources, including the net income or expenditure for the year. In preparing those financial statements the Trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Observe the methods and principles in the applicable charities SORP; 

- Make judgements and estimates which are reasonable and prudent; 

- State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- Prepare the financial statements on the going concern basis unless it is inappropriate to assume that The Chantry Centre will continue in operation. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of The Chantry Centre and which enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of The Chantry Centre and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The Trustees confirm to the best of their belief and knowledge there is no information relevant to the independent examination of which the independent examiners are unaware. The Trustees also confirm they have taken all necessary steps to ensure that they themselves are aware of all relevant information and that this information has been communicated to the independent examiners. 

Members of The Chantry Centre guarantee to contribute an amount not exceeding £10 to the assets of The Chantry Centre in the event of winding up. The total number of such guarantees as at 31 August 2021 was 5. The Trustees are members of The Chantry Centre but this entitles them only to voting rights. The Trustees have no beneficial interest in The Chantry Centre. 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) 

REPORT OF THE TRUSTEES 

## YEAR ENDED 31 AUGUST 2021 

## **INDEPENDENT EXAMINER** 

I.G. Lansdown was appointed as independent examiner for The Chantry Centre during the year and has expressed his willingness to continue in that capacity. 

Approved by the Trustees on 11 April 2022 and signed on their behalf by 

Adrian Judge - Chair 

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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE CHANTRY CENTRE 

## YEAR ENDED 31 AUGUST 2021 

I report to the Trustees on my examination of the accounts of The Chantry Centre for the year ended 31 August 2021 which are set out on pages 8 to 16. 

## **RESPONSIBILITIES AND BASIS OF REPORT** 

As the Trustees of The Chantry Centre (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the Companies Act 2006 (“the 2006 Act”). 

Having satisfied myself that the accounts of The Chantry Centre 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 The Chantry Centre’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **INDEPENDENT EXAMINER'S STATEMENT** 

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

1. Accounting records were not kept in respect of The Chantry Centre as required by section 386 of the 2006 Act; or 

2. The accounts do not accord with those records; or 

3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination; or 

4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS102)]. 

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

## Van LanaLoun 

## 13 April 2022 

Name: I.G. Lansdown BSc ACA Address: Azets, Prospect House, 5 May Lane, Dursley, Gloucestershire, GL11 4JH 

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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) 

## YEAR ENDED 31 AUGUST 2021 

|||**Unrestricted**||**Endowment**|||
|---|---|---|---|---|---|---|
|||**Funds**|**Restricted**|**Funds**|**Total**|**Total**|
|||**General**|**Funds**|**Expendable**|**2021**|**2020**|
||**Note**|**£**|**£**|**£**|**£**|**£**|
|**_Income from:_**|||||||
|Donations and legacies|2|82,214|9,600|-<br>|91,814<br>|109,369|
|Other trading activities|5|9,212|-|-<br>|9,212<br>|13,210|
|**Total Income**||**91,426**|**9,600**|**-**|**101,026**|**122,579**|
|**Expenditure on:**|||||||
|**_Costs of raising funds:_**|||||||
|Fundraising activities|||||||
|and events|6|1,500|-|-|1,500|3,000|
|**_Charitable activities:_**|||||||
|Building maintenance and|7|49,113|3,500|7,200|59,813|122,144|
|utilities|||||||
|**Total Expenditure**||**50,613**|**3,500**|**7,200**<br>|**61,313**|**125,144**|
|Net Income / (expenditure)||40,813|6,100|(7,200)|39,713|(2,565)|
|**Reconciliation of funds:**|||||||
|Total Funds Brought Forward||28,866|776|295,201|324,843|327,408|
|**Total Funds Carried Forward**||**69,679**|**6,876**|**288,001**|**364,556**|**324,843**|



All of The Chantry Centre’s activities derive from continuing operations during the above two periods. 

A Statement of Total Recognised Gains and Losses is not required as all gains and losses are included in the Statement of Financial Activities. 

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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## BALANCE SHEET 

## AS AT 31 AUGUST 2021 

|||**2021**|**2020**|
|---|---|---|---|
||**Note**|**£**|**£**|
|**Fixed Assets**||||
|Tangible assets|11|290,916|295,201|
|Investments|12|1<br>|1|
|||290,917|295,202|
|**Current Assets**||||
|Debtors|13|3,252|1,206|
|Cash in hand and at Bank||76,688|29,596|
|||79,940|30,802|
|**Creditors: Amounts falling**||||
|**due within one year**|14|6,301|1,161|
|**Net Current Assets**||73,639|29,641|
|**Net Assets**||**364,556**|**324,843**|
|**Funds of the Charity**||||
|Endowment funds||288,001<br>|295,201<br>|
|Restricted income funds||6,876|776|
|Unrestricted income funds||69,679|28,866|
|**Total Funds**|16|**364,556**|**324,843**|



The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. 

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. 

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP. 

The financial statements on pages 8 to 16 were approved by the Trustees and authorised for issue on 11 April 2022 and are signed on their behalf by: 


**----- Start of picture text -----**<br>
………………………………<br>Mr A P Judge - Chair<br>Nf<br>**----- End of picture text -----**<br>


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THE CHANTRY CENTRE (A Company Limited by Guarantee) 

NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2021 

## **1. ACCOUNTING POLICIES** 

## **a) Basis of accounting** 

The financial statements have been prepared in accordance with Accounting and Reporting for Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006. 

The charity 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 accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 

The Chantry Centre meets the definition of public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## **b) Going Concern** 

The financial statements have been prepared on the assumption that The Chantry Centre is able to continue as a going concern. 

## **c) Changes to Accounting Estimates** 

No material changes to accounting estimates have occurred in the reporting period. 

## **d) Consolidation** 

In the opinion of the Trustees, The Chantry Centre and its subsidiary undertaking (Chantry Centre Trading Company Limited (Company Number 07396495)) comprise a small group. The Chantry Centre has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. 

## **e) Incoming resources** 

Income including income from room hire, donations, gifts and grants that provide core funding are recognised when the Charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be quantified with reasonable accuracy and is not deferred. 

Donations received for the general purposes of The Chantry Centre are included as Unrestricted Funds. Donations for activities restricted by the wishes of the donor are recorded as 'Restricted Funds' where these wishes are legally binding on the Trustees. 

Income is included in the Statement of Financial Activities on a receivable basis. The balance of income received for Restricted Funds but not expended during the period is shown in the Balance Sheet. 

Where income is received in advance of the provision of services and which is refundable, it is deferred and included in creditors until the criteria for income recognition has been met. Where entitlement to receive income occurs before income is received, the income is accrued. 

## **f) Donated Services** 

Donated services are included in the Statement of Financial Accounts when received at the value of the gift to The Chantry Centre provided the value if the gift can be measured reliably. 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2021 

## **g) Investment income** 

Investment income is included in the Statement of Financial Activities in the year in which it is receivable. 

## **h) Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure incurred but not paid for is accrued and expenditure which is incurred in advance of its benefit is treated as a prepayment. 

## **i) Statement of Financial Activities** 

In preparing the Statement of Financial Activities, the Trustees have attributed, where readily determinable, costs between costs of raising funds and charitable activities. 

## **j) Cost of raising funds** 

These are costs incurred in attracting voluntary income and those incurred in activities that raise funds. 

## **k) Charitable Activities** 

Charitable expenditure comprises those costs incurred by The Chantry Centre in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature that are necessary to support them. 

## **l) Governance Costs** 

Governance costs comprise all costs involving public accountability of The Chantry Centre and its compliance with regulation and good practice. 

## **m) Taxation** 

The Charity is considered to pass the test set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly the Charity is potentially exempt for taxation in respect to income or capital gains within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 245 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## **n) Tangible Fixed assets** 

All fixed assets are initially recorded at cost or market value as at the date of the acquisition or donation received. Assets costing under £100 are not capitalised. Assets are subject to annual impairment reviews. 

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the asset as follows: 

Land and buildings: 2% straight line per annum Fixtures and Equipment: 20% straight line per annum 

## **o) Fixed Asset Investments** 

The investment held in The Chantry Centre’s subsidiary undertaking (Chantry Centre Trading Company Limited (Company Number 07396495)) is valued at cost. 

## **p) Debtors** 

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by The Chantry Centre.  Subsequently, they are measured at the cash or other consideration expected to be received 

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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2021 

## **2. DONATIONS AND LEGACIES** 

||**Unrestricted**||||
|---|---|---|---|---|
||**Funds**|**Restricted**|**Total**|**Total**|
||**General**|**Funds**|**2021**|**2020**|
||**£**|**£**|**£**|**£**|
|Donations|37,874<br>|-|37,874|54,369|
|Grants, including capital grants:|||||
|Government grants|44,340|-|44,340|20,000|
|Grants from other organisations|-<br>|9,600|9,600|35,000|
||**82,214**|**9,600**|**91,814**|**109,369**|



|**3.**<br> **GOVERNMENT GRANTS**<br>**4.**<br>**DONATIONS**<br>Dursley Town Council<br>Stroud District Council<br>Reach Fund - Social Investment Business Grant<br>Tolvik Consulting Limited (Services)<br>Miscellaneous Private Donations<br>Tolvik Consulting Limited<br>Barnwood Trust<br>Garfield Weston Foundation|**Total**<br>**Total**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>6,000<br>-<br>38,340<br>20,000<br>**44,340**<br>**20,000**<br>**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Total**<br>**Total**<br>**General**<br>**Funds**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>**£**<br>**£**<br>-<br>9,600<br>9,600<br>-<br>1,500<br>-<br> <br>1,500<br>3,000<br>8,374<br>-<br>8,374<br>3,369<br>28,000<br>28,000<br>48,000<br>-<br>-<br>-<br>20,000<br> <br>-<br>-<br>-<br>15,000|**Total**<br>**Total**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>6,000<br>-<br>38,340<br>20,000|
|---|---|---|
|||**44,340**<br>**20,000**|
||**37,874**<br>**9,600**<br>**47,474**<br>**89,369**||



The services donation made by Tolvik Consulting Limited was in the form of specialist staff seconded to The Chantry Centre for specific marketing related activities/projects. 

The value of the donated services is calculated on the basis of estimated recorded activity time charged at the basic salary rate (i.e. excluding any associated employment costs). This value has been included to properly reflect the cost of specialist support required to maintain and develop The Chantry Centre’s user base. There were no conditions attached to the secondment. 

The invaluable contribution in terms of time given by the wide range of volunteers supporting The Chantry Centre are not recorded in these accounts but it is intended that monitoring of these hours will commence in the future. 

## **5. INCOME FROM OTHER TRADING ACTIVITIES** 

|Room hire etc|**Unrestricted**<br>**Funds**<br>**Total**<br>**Total**<br>**General**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>**£**<br>9,212<br>9,212<br>13,210|
|---|---|
||**9,212**<br>**9,212**<br>**13,210**|



The reduced income from room hire reflects the impact of closure of The Chantry Centre during the COVID-19 lockdown. 

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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2021 

## **6. COSTS OF RAISING FUNDS** 

||**Unrestricted**||||
|---|---|---|---|---|
||**Funds**|**Restricted**|**Total**|**Total**|
||**General**|**Funds**|**2021**|**2020**|
||**£**|**£**|**£**|**£**|
|Marketing and publicity|**1,500**<br>|**-**<br>|**1,500**<br>|**3,000**|



## **7. TOTAL EXPENDITURE** 

All expenditure on Charitable Activities relate to the building maintenance and utilities. As a result expenses have not been analysed by activity category/support costs. 

||**Unrestricted**||**Endowment**|||
|---|---|---|---|---|---|
||**Funds**|**Restricted**|**Funds**|**Total**|**Total**|
||**General**|**Funds**|**Expendable**|**2021**|**2020**|
||**£**|**£**|**£**|**£**|**£**|
|Building maintenance and utilities||||||
|Depreciation of freehold property|324|-|7,200|7,524|7,200|
|Rates and water|517|-|-|517|2,222|
|Light, heat and power|4,333|-|-|4,333|12,018|
|Insurance and licencing|3,216|-|-|3,216|3,168|
|Repairs and maintenance|4,273|-|-|4,273|65,598|
|Building management inc staff|23,330|-|-|23,330|28,924|
|Telephone and postage|626|-|-|626|842|
|Equipment etc|620<br>|-|-|620|-|
|Transfer of SDC Grant to Trading Co|9,585|-|-<br>|9,585|-|
|Governance costs|2,289|3,500|-|5,789|2,172|
|**Expenditure: Charitable activities**|**49,113**|**3,500**|**7,200**|**59,813**|**122,144**|
|Expenditure: Fundraising|1,500|-|-|1,500|3,000|
|**Total Expenditure**|**50,613**|**3,500**|**7,200**<br>|**61,313**|**125,144**|



## **8. NET INCOME/EXPENDITURE** 

This is stated after charging: 

||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Depreciation of fixed assets|**7,524**|7,200|
|Independent Examiner's renumeration|**850**|850|
|Trustees' remuneration|**-**|-|
|Trustees' reimbursed expenses|**-**|-|



## **9. STAFF COSTS AND NUMBERS** 

The Chantry Centre does not directly employ any staff. 

The Chantry Centre Trading Company Limited employees a manager, part of whose role relates to building management and maintenance of The Chantry Centre, and whose salary and wages and associated social security costs during the year were recharged. In 2020/21 the cost was £19,796 and classified within Building Management in the analysis of Total Expenditure. 

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THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2021 

## **10. TAXATION** 

The Chantry Centre is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 

## **11. TANGIBLE FIXED ASSETS** 

|**11.**<br>**TANGIBLE FIXED ASSETS**||
|---|---|
|**Cost**<br>At 1 September 2020<br>Additions<br>**At 31 August 2021**<br>**Depreciation**<br>At 1 September 2020<br>Charge for the year<br>**At 31 August 2021**<br>Net Book Value<br>**At 31 August 2021**<br>At 31 August 2020|**Unrestricted Endowment**<br>**Funds**<br>**Funds**<br>**Fixtures and**<br>**Land and**<br>**Equipment**<br>**buildings**<br>**Total**<br>**£**<br>**£**<br>**£**<br>-<br>360,001<br>360,001<br>3,239<br>-<br>3,239<br>3,239<br>360,001<br>363,240|
||-<br>64,800<br>64,800<br>324<br>7,200<br>7,524|
||324<br>72,000<br>72,324|
||**2,915**<br>**288,001**<br> <br>**290,916**|
|||
||-<br>295,201<br>295,201|



## **12. INVESTMENTS** 

Shares in group companies and participating interests 

|**2021**|**2020**|
|---|---|
|**£**|**£**|
|**1**|**1**|



## **Details of undertakings** 

Details of the investments in which The Chantry Centre holds 20% or more of the nominal value of any class of share capital are as follows: 

||||**Proportion of**||
|---|---|---|---|---|
||**Country of**||**voting rights and**||
|**Undertaking**|**Incorporation**|**Holding**|**shares held**|**Principal Activity**|
|The Chantry Centre||||Operates the|
|Trading Company|England|£1 Ordinary|100%|licensed bar at|
|Ltd||||Chantry Centre|



## **13. DEBTORS** 

|Trade debtors<br>Prepayments<br>VAT recoverable|**2021**<br>**2020**<br>**£**<br>**£**<br>2,331<br>115<br>896<br>896<br>25<br>195|
|---|---|
||**3,252**<br>**1,206**|



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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2021 

## **14. CREDITORS: Amounts falling due within 1 year** 

||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Trade creditors|-<br>|256<br>|
|Due to The Chantry Centre Trading Company Ltd|-|-|
|Accruals|5,863<br>|851<br>|
|Deferred Income (see Note 15)|41<br>|41|
|VAT Payable|397|13|
||**6,301**<br>|**1,161**|



## **15. DEFERRED INCOME** 

Deferred income relates to deposits for advanced room hire. 

|At 1 September<br>Amounts deferred during year<br>Amounts released during year<br>At 31 August|**2021**<br>**2020**<br>**£**<br>**£**<br>41<br>53<br>-<br>41<br>-<br>(53)|
|---|---|
||**41**<br>**41**<br>|



## **16. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>**Total net assets as at 31 August 2021**<br>Purpose of Restricted Funds:<br>Transition Cam & Dursley CIC<br>Reach Fund - Social Investment Business Grant|**Unrestricted**<br>**Endowment**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**Total**<br>**General**<br>**Funds**<br>**Expendable**<br>**2021**<br>**£**<br>**£**<br>**£**<br>**£**<br>2,915<br>-<br>288,001<br> <br>290,916<br>-<br>-<br>1<br>1<br>73,064<br>6,876<br>-<br>79,940<br>(6,301)<br>-<br>-<br>(6,301)|**Unrestricted**<br>**Endowment**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**Total**<br>**General**<br>**Funds**<br>**Expendable**<br>**2021**<br>**£**<br>**£**<br>**£**<br>**£**<br>2,915<br>-<br>288,001<br> <br>290,916<br>-<br>-<br>1<br>1<br>73,064<br>6,876<br>-<br>79,940<br>(6,301)<br>-<br>-<br>(6,301)|
|---|---|---|
||**69,678**<br>**6,876**<br>**288,002**<br>**364,556**||
|||**Balance as at Balance as at**<br>**31-Aug-21**<br>**31-Aug-20 Purpose**<br>776<br>776<br>Garden<br>6,100<br>-<br>Development<br>**6,876**<br>**776**|



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## THE CHANTRY CENTRE (A Company Limited by Guarantee) 

## NOTES TO THE FINANCIAL STATEMENTS 

## YEAR ENDED 31 AUGUST 2021 

## **17. MOVEMENTS IN FUNDS** 

||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
|---|---|---|---|---|
||**1 Sep 2020**|**Resources**|**Resources**|**31 Aug 2021**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||
|**_Unrestricted general funds_**|||||
|General funds|28,866|91,426|(50,613)|69,679|
|**_Restricted funds_**|||||
|Grant Funding|776|9,600|(3,500)|6,876|
|**_Expendable endowment funds_**|||||
|Endowment funds|295,201|-|(7,200)|288,001|
|**Total funds**|**324,843**|**101,026**|**(61,313)**|**364,556**|



## **18. RELATED PARTY TRANSACTIONS** 

During the year The Chantry Centre Trading Company Limited recharged The Chantry Centre total costs of £24,393. This included the Manager’s time spent on The Chantry Centre activities (see Note 9 - totaling £19,796) together with other sundry expenses primarily relating to Building Management. 

To help ensure its ongoing viability during the periods it was unable to trade, The Chantry Centre also transferred 25% of the total of the various coronavirus related Stroud District Council grants (£9,585) to The Chantry Centre Trading Company. 

As at 31 August 2021, The Chantry Centre owed The Chantry Centre Trading Company £nil for these services ( _2020: £nil_ ). 

Tolvik Consulting Limited is a company controlled by Mr AP Judge (trustee) and his wife. During the year Tolvik Consulting Limited donated services worth £1,500 and made a cash donation of £28,000. 

During the year Mr B F Walker, trustee, made a donation of £5,000. 

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