**SUMMERHILL TRUST LIMITED** (A company limited by guarantee)
**REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2021**
**Charity Number 1140081 Company Number 07476591**
**SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
For the year ended 31 March 2021
|**Contents**|**Page**|
|---|---|
|Trustees annual report|1 to 6|
|Independent examiners report|7|
|Statement of Financial Activities (including|8|
|income and expenditure account)||
|Balance sheet|9|
|Notes to the financial statements|10 to 19|
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **TRUSTEE ANNUAL REPORT**
For the year ended 31 March 2021
The trustees are pleased to present their annual report together with the financial statements of the charity for the period ended 31 March 2021, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, 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) (effective 1 January 2019)
## **1. Objectives and Activities**
The Charity’s objectives are specifically restricted to the following:
- a) To promote any charitable purpose for the benefit of the community in Newcastle upon Tyne and the surrounding areas (the area of benefit) particularly but not exclusively by advancing education, promoting the protection and preservation of good health and relieving poverty, distress and sickness.
- b) In furtherance of these objectives but not otherwise, the trustees shall have the power to establish or secure the establishment of community facilities that centre in and around Summerhill pavilion, park and greens and to maintain and manage the same.
The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit when reviewing the Summerhill Trust Ltd aims and objectives and in planning the future activities. In particular, the trustees considered how planned activities would contribute to the aims and objectives they had set.
1
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **TRUSTEE ANNUAL REPORT**
For the year ended 31 March 2021
## **2. Achievements and Performance**
The year 2020 to 2021 was dominated by the Covid Pandemic. Our primary source of income, namely weddings and events came to an abrupt halt for the majority of the financial year leading to a major rethinking of strategy.
The government grants and the Furlough Scheme helped to keep the charity afloat alongside generous contributions from the membership and the work of volunteers to keep the site maintained and operating. We are most grateful for the work and help of all the aforementioned.
The Bowling Club became a much-needed refuge for members of the community, confined in their own homes, to get outside for fresh air and exercise.
Needless to say, because of Covid the year 2020 /21 cannot be compared as a like for like comparison with previous years.
As the year progressed and restrictions lifted, we saw activity increase and slowly mobilised into a fully operational mode.
## **3. Plans for the Future**
We have seen unprecedented demand for the use of the space and we hope to capitalise on that. This is in part due to scarcity of outdoor spaces in Central Newcastle and the closure of many venues during the Pandemic. We remain prudent with expenditure due to the possibility of further lockdowns and have built a contingency to cater for such an event.
Our focus is also on better community engagement and the creation of a robust business model that balances our need for revenue with our obligations as a charity.
2
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **TRUSTEE ANNUAL REPORT**
For the year ended 31 March 2021
**4. Reference and administrative details of the charity, its trustees and advisors for the period in question.**
**Charity Name** Summerhill Trust Ltd **Registered Charity Number** 1140081 **Registered Company Number** 747659 **Operational address** Summerhill Bowling Club Winchester Terrace Newcastle upon Tyne NE4 6EH **Trustees** J Singh (Chair) D Smith P Hodes A Appleton (Resigned 01.03.21) N Canavan L Jacobs (Appointed 07.06.20) R Dougal (Appointed 10.06.20) M Sensicle (Appointed 15.07.20) C Gant (Resigned 10.06.20) I Campbell (Resigned 15.06.20) **Independent Examiner** Doug Maltman Connected Voice Business Services Limited Higham House Higham Place Newcastle upon Tyne NE1 8AF **Bankers** Co-operative Bank plc **Solicitors** Bond Dickinson Womble
3
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
**TRUSTEE ANNUAL REPORT** For the year ended 31 March 2021
## **5. Structure, Governance and Management**
## Governing documents
The organisation is a Charitable Company Limited by Guarantee. The Company was established under a Memorandum of Association, which established the objectives and powers of the Charitable Company and is governed under its Articles of Association. In the event of a winding up any member (who is a director) undertakes to contribute to the payment of liabilities, such amount as may be required not exceeding the total of £1.
## Method of Recruitment of Trustees
The Directors of the Company are also Trustees for the purposes of charity law and under the company's Articles are its members. Under the requirements of the Memorandum and Articles of Association, at the Annual General Meeting one-third of the Directors, who are subject to retirement by rotation, shall retire. Retiring Directors can be re-appointed at the Annual General Meeting.
Trustees are selected on the basis of specialist skills and commitment to the objectives and aims of the organisation.
## Induction and Training of Trustees
New Board Members are introduced to the work of the organisation and informed of their legal roles and responsibilities at an induction meeting. The induction and training programme for new Board Members includes:
- A briefing by the Chair or Chief Executive
- An explanation of roles and responsibilities as a Board Member
- Copies of the main company documents including the Memorandum and Articles of Association and the Financial Statements
- Copy of the business plan and most recent evaluation report
- Copies of recent board papers including budgets and management accounts
- A copy of the Charity Commission publication "How to be an Effective Trustee"
- A copy of the governance structure.
4
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **TRUSTEE ANNUAL REPORT**
For the year ended 31 March 2021
## **6. Risk management**
The Board is responsible for the management of the risks to which the Charity is exposed. A risk register is produced which considers financial, governance and delivery risks. The Trustees have assessed the risks to which the charitable company is exposed, in particular, those related to the operations and finances of the charitable company, and are satisfied that systems and procedures are in place to mitigate any risk.
For each risk, the register identifies:
- Initial risk assessment in terms of impact and likelihood
- Initial risk rating
- Counter measures
- Responsibility / ownership
- Timescale
- Amended risk assessment in terms of impact and likelihood
- Amended risk rating
The Board reviews the risk register throughout the year. Through the counter measures put in place in the risk register and the regular reviews and updates, the Board is satisfied that the major risks identified have been adequately mitigated. It has been recognised that this approach can only provide reasonable but not absolute assurance that major risks have been adequately managed.
## **7. Financial Review**
## **Review of the year**
The results for the year and the company's financial position at the end of the year are shown in the attached financial statements.
During the year the Charity had income of £40,490 (2020: £90,025) of which £500 was restricted (2020: £500) and expenditure of £29,609 (2020: £93,600) of which £240 was restricted (2020: £500). There was an operating surplus of £10,881 (2020: deficit of £3,575) of which £260 was restricted (2020: £nil).
At 31 March 2021 the Charity had net assets of £100,831 (2020: £89,950) of which £260 was restricted (2020: £nil).
5
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **TRUSTEE ANNUAL REPORT**
For the year ended 31 March 2021
## **Reserves policy/No reserves/Going concern**
The Trustees consider the level of reserves, £22,277 (2020: £7,038), prudent for the Charity at this time taking into account potential liabilities in the event that the charity ceased. Our Reserves Policy is reviewed annually.
## **8. Statement of Trustee Responsibilities**
The charity trustees are responsible for preparing a trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The charity trustees are required to prepare financial statements for each year, which give a true and fair view of the situation of the charitable company and of incoming resources and application of resources. In preparing financial statements, the trustees are required to:
Select suitable accounting policies and apply them consistently.
Observe the methods and principles in the Charities SORP.
Make judgements and estimates that are reasonable and prudent.
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
- Prepare the financial statements on the going concern basis unless it is
- inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on 7[th] December 2021 and signed on their behalf by:
Jasper Singh (Chair)
6
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES**
For the year ended 31 March 2021
I report on the financial statements of Summerhill Trust Limited for the year ended 31 March 2021, which are set out on pages 8 to 19.
## **Respective responsibilities of trustees and examiner**
The charity's trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act) and that an independent examination is needed.
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:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
- to 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 the 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 material matters have come to my attention which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I 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.
Doug Maltman FMAAT Connected Voice Business Services Limited Higham House Higham Place Newcastle upon Tyne NE1 8AF Date: 07.12.2021
7
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **STATEMENT OF FINANCIAL ACTIVITIES**
(INCLUDING SUMMARY INCOME & EXPENDITURE ACCOUNT)
For the year ended 31 March 2021
|6
7
Other trading activities
8
**Expenditure on:**
9
10
**_Total funds carried forward_**
**Reconciliation of funds**
Total funds brought forward
Notes
**_Total income_**
Donations and legacies
**Income from:**
Charitable activities
Grants and contracts
Raising funds
Operation of the charity
**_Total expenditure_**
**_Net income/(expenditure)_**
Charitable activities|Unrestricted
Funds
£
4,008
30,282
5,700
39,990
3,927
25,442
29,369
10,621
89,950
100,571|Restricted
Funds
£
-
500
-
500
-
240
240
260
-
260|**Total**
**2021**
**£**
**4,008**
**30,782**
**5,700**
**40,490**
**3,927**
**25,682**
**29,609**
**10,881**
**89,950**
**100,831**|Total
2020
£|
|---|---|---|---|---|
|||||7,357
500
82,168|
|||||90,025|
|||||24,984
68,616|
|||||93,600|
|||||( 3,575 )
93,525|
|||||89,950|
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
The notes on pages 10 to 19 form an integral part of these accounts.
8
Charity Number 1140081 Company Number 07476591
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **BALANCE SHEET**
As at 31 March 2021
|**Fixed assets**
Tangible assets
17
**_Total fixed assets_**
**Current assets**
Stock
18
Debtors
19
Cash at bank and in hand
20
**_Total current assets_**
**Creditors:**amounts falling due within
one year
21
**_Net current assets_**
**_Total net assets or liabilities_**
**Funds of the charity**
Unrestricted income funds
Restricted income funds
**_Total funds_**
Notes|**£**
850
72
25,080
**26,002**
**( 3,464 )**|**Total**
**2021**
**£**
78,294
**78,294**
**22,538**
**100,831**
100,571
260
**100,831**|**£**
1,650
3,768
3,285
**8,703**
**( 1,665 )**|**Total**
**2020**
**£**|
|---|---|---|---|---|
|||||82,912|
|||||**82,912**
**7,038**|
|||||**89,950**|
|||||89,950
-|
|||||**89,950**|
The company was entitled to an 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 the 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 notes on pages 10 to 19 form an integral part of these accounts.
These financial statements were approved by the Board on: 07.12.2021 and are signed on its behalf by: J Singh Trustee
9
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the 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:
## 2 **Basis of accounting**
## 2.1 **Basis of preparation**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts 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 2019) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Summerhill Trust Limited meets the definition of a public benefit entity under FRS 102.
## 2.2 **Preparation of the accounts on a going concern basis**
The charity reported total unrestricted funds at the year end of £100,571 and has already secured a significant amount of funding for the current year. The trustees are of the view that the immediate future of the charity for the next 10 months is secure and that on this basis the charity is a going concern.
In particular, in response to the COVID-19 pandemic, the Trustees have revised their forecasts to take into account the impact on the business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
## 3 **Income**
## 3.1 **Recognition of income**
Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability
## 3.2 **Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.
## 3.3 **Grants and donations**
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.
10
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## 3.4 **Volunteer help**
The value of volunteer help received is not included in the accounts but is described in the trustees' annual report.
## 3.5 **Income from membership subscriptions**
Membership subscriptions received in the nature of a gift are recognised in donations and legacies.
Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
## 3.6 **Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the
## 4 **Expenditure and liabilities**
## 4.1 **Liability recognition**
Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## 4.2 **Charitable activities**
Expenditure on charitable activities includes the costs of work and other activities undertaken to further the purposes of the charity and their associated support costs.
## 4.3 **Governance and support costs**
Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
## 4.4 **Irrecoverable VAT**
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## 4.5 **Creditors**
The charity has creditors which are measured at settlement amounts less any trade discounts.
## 4.6 **Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
11
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## 5 **Assets**
## 5.1 **Tangible fixed assets for use by the charity**
Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis, the charity does not currently have any tangible fixed
Fixtures and fittings 4% Straight line
.
12
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## **Analysis of income**
|6
7
8|**Donations and legacies**
**Charitable activities**
Income from grants
**Other trading activities**
Fundraising events
Parking fees
Bar takings
Other income
Donations and gifts
Gift Aid
Membership subscriptions
Room hire
Newcastle City Council
Virgin Money
HMRC - Job Retention Scheme|Unrestricted
Funds
£
4,003
-
5
4,008
22,689
7,593
-
30,282
1,932
40
2,079
742
907
5,700|Restricted
Funds
£
-
-
-
-
-
-
500
500
-
-
-
-
-
-|**Total**
**2021**
**£**
**4,003**
**-**
**5**
**4,008**
**22,689**
**7,593**
**500**
**30,782**
**1,932**
**40**
**2,079**
**742**
**907**
**5,700**|Total
2020
£|
|---|---|---|---|---|---|
||||||6,614
740
3|
||||||7,357|
||||||500
-
-|
||||||500|
||||||33,517
3,749
8,637
35,908
357|
||||||82,168|
Income was £40,490 (2020: £92,574) of which £39,990 was unrestricted or designated (2020: £92,074) and £500 was restricted (2020: £500)
13
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## **Analysis of expenditure on charitable activities**
|9
10|**_Raising funds_**
Marketing
**_Charitable activities_**
Direct costs
Support costs
Governance costs
Bank charges
Insurance
Bar and event costs
Staff NI
Pension costs
Development manager (sub-contractor)
Garden costs
Equipment costs
Repairs and renewals
Independent examiner's fees for reporting on
the accounts
Depreciation
Other expenses
Cleaning costs
Utilities
Legal and professional
Caretaker/Handyman salaries
Office costs
Consultancy fees
Payroll fees
Corporation tax|Unrestricted
Funds
£
3,847
80
3,927
-
607
-
1,936
436
7,938
1,592
94
879
1,315
-
1,152
1,888
4,618
-
718
200
881
1,188
25,442|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
240
-
-
-
-
-
-
-
-
-
-
-
-
240|**Total**
**2021**
**£**
**3,847**
**80**
**3,927**
**-**
**607**
**-**
**1,936**
**436**
**7,938**
**1,832**
**94**
**879**
**1,315**
**-**
**1,152**
**1,888**
**4,618**
**-**
**718**
**200**
**881**
**1,188**
**25,682**|Total
2020
£|
|---|---|---|---|---|---|
||||||23,630
1,354|
||||||24,984|
||||||5,205
1,885
7,659
18,223
1,459
8,835
4,429
-
7,598
2,074
1,200
2,807
1,380
4,618
56
-
-
-
1,188|
||||||68,616|
Expenditure on charitable activities was £29,609 (2020: £96,149) of which £29,369 was unrestricted or designated (2020: £95,649) and £240 was restricted (2020: £500)
## 11 **Fees for examination of the accounts**
|Independent examiner's fees for reporting on the accounts
Other accountancy services paid to the examiner|**2021**
**£**
**1,188**
**718**
**1,906**|2020
£|
|---|---|---|
|||1,188
580|
|||1,768|
14
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## 12 **Analysis of staff costs and the cost of key management personnel**
Summerhill Limited was manager by a sub-contractor Manager and employed a Handyman/Caretaker.
|Pension costs (defined contribution pension plan)
Salaries and wages
Social security costs|**2021**
**£**
**7,938**
**-**
**607**
**8,545**|2020
£|
|---|---|---|
|||27,058
5,205
1,885|
|||34,148|
No employee received remuneration above £60,000 (2020: nil)
The key management personnel of the charity, comprise the trustees and the Development Manager. The total employee benefits of the key management personnel of the charity were £1,936 (2020: £27,520).
## 13 **Staff numbers**
The average monthly head count was 1 staff (2020: 2 staff) and the average monthly number of full-time equivalent employees during the year were as follows:
|The parts of the charity in which the employee's work
Charitable activities
Governance|**2021**
**Number**
**0.5**
**0.0**
**0.5**|2020
Number|
|---|---|---|
|||0.5
1.0|
|||1.5|
## 14 **Transactions with trustees**
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
## **Trustees' expenses**
No trustee expenses have been incurred in the year.
## **Other trustees' transactions**
During the year, the trustees made donations to the charity.
|Donations of unrestricted nature|**2021**
**220**
**220**|2020
**-**|
|---|---|---|
|||**-**|
## **Transaction(s) with related parties**
There have been no related party transactions in the reporting period.
15
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## 15 **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The employer's pension costs represent contributions payable by the charity to the fund and amount to £607 (2020: £1,885). There was £49 outstanding as at 31 March 2021 (2020: £61)
## 16 **Corporation Taxation**
The charity is exempt from tax on income and gains falling within 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 objectives.
|17 **Tangible fixed assets**
**Cost**
Balance brought forward
Additions
Disposals
**Balance carried forward**
**Depreciation**
Basis
Rate
Balance brought forward
Depreciation charge for year
Disposals
**Balance carried forward**
**Net book value**
**Brought forward**
**Carried forward**|**Fixtures**
**and**
**Fittings**
**£**
115,454
-
-
115,454
SL
4%
32,542
4,618
-
37,160
82,912
78,294|**Total**
**£**|
|---|---|---|
|||**115,454**
**-**
**-**|
|||**115,454**|
|||**32,542**
**4,618**
**-**|
|||**37,160**|
||||
|||**82,912**|
||||
|||**78,294**|
## 18 **Stock**
|**Charitable activities:**
Opening
Added in period
Expensed in period
Impaired
Closing|For
distribution
£
-
-
-
-
-
Stock|For
resale
£
1,650
-
( 800 )
-
850
2021|For
distribution
£
-
-
-
-
-
Stock|For
resale
£
2020|
|---|---|---|---|---|
|||||1,500
150
-
-|
|||||1,650|
16
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## 19 **Debtors and prepayments (receivable within 1 year)**
|Prepayment
Accrued income
Other debtors
Trade debtors
Salary holding account|**2021**
**£**
**48**
**-**
**-**
**24**
**-**
**72**|2020
£|
|---|---|---|
|||275
2,624
740
24
105|
|||3,768|
|20
Cash at bank
Cash in hand
21
**Cash at bank and in hand**
Other accruals
Accruals
Independent examination of accounts
Other creditors
**Creditors and accruals (payable within 1 year)**|**2021**
**£**
**25,030**
**50**
**25,080**
**2021**
**£**
**1,188**
**1,039**
**1,237**
**3,464**|2020
£|
|---|---|---|
|||3,235
50|
|||3,285|
|||2020
£|
|||1,188
381
96|
|||1,665|
## 22 **Events after the end of the reporting period**
Due to the COVID-19 pandemic, it has put pressure on all businesses in 2020-21. It should be noted that the creditors are being paid when the payments are falling due. No other significant events affecting the Company since the year end.
## 23 **Analysis of charitable funds**
## **Analysis of movements in unrestricted funds**
**For the year ending 31 March 2021**
|**Unrestricted funds**
General unrestricted fund
Designated funds
Value of building
**_Totals_**|**Fund**
**balances**
**brought**
**forward**
£
106
89,844
89,950|**Incoming**
**resources**
£
39,990
-
39,990|**Resources**
**expended**
£
( 24,751 )
( 4,618 )
(29,369)|**Transfers**
£
-
-
-|**Fund**
**balances**
**carried**
**forward**
**£**|
|---|---|---|---|---|---|
||||||**15,345**
**85,226**|
||||||**100,571**|
17
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## **For the year ending 31 March 2020**
|**Unrestricted funds**
General unrestricted fund
Designated funds
Value of building
**_Totals_**|**Fund**
**balances**
**brought**
**forward**
£
( 937 )
94,462
93,525|**Incoming**
**resources**
£
89,526
-
89,526|**Resources**
**expended**
£
( 88,483 )
( 4,618 )
(93,101)|**Transfers**
£
-
-
-|**Fund**
**balances**
**carried**
**forward**
**£**|
|---|---|---|---|---|---|
||||||**106**
**89,844**|
||||||**89,950**|
## **Purpose of unrestricted funds**
General unrestricted fund The 'free reserves' after allowing for designated funds
- 24 **Analysis of charitable funds** _(Continued)_
## **Analysis of movement in restricted funds**
## **For the year ending 31 March 2021**
|**Fund**
**balances**
**brought**
**forward**
**Restricted funds**
£
Virgin money
-
**_Totals_**
-
**Fund**
**balances**
**brought**
**forward**
**Restricted funds**
£
Newcastle City Council
-
**_Totals_**
-
**For the year ending 31 March 2020**|**Incoming**
**resources**
£
500
500
**Incoming**
**resources**
£
500
500|**Resources**
**expended**
£
( 240 )
(240)
**Resources**
**expended**
£
( 500 )
(500)|**Transfers**
£
-
-
**Transfers**
£
-
-|**Fund**
**balances**
**carried**
**forward**
**£**|
|---|---|---|---|---|
|||||**260**|
|||||**260**|
|||||**Fund**
**balances**
**carried**
**forward**
**£**|
|||||**-**|
|||||**-**|
## **Purpose of restricted funds**
Restricted funds represent income resources used for a specific purpose within the charity as identified by the donor.
Newcastle City Council Virgin Money
Sparks project and construction works at premises Funds to cover costs of website design.
18
## **SUMMERHILL TRUST LIMITED**
(A company limited by guarantee)
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2021
## 25 **Capital commitments**
As at 31 March 2021, the charity had no capital commitments (2020 -£nil)
## 26 **Analysis of net assets between funds**
|**nalysis of net assets between funds**||||
|---|---|---|---|
|Tangible fixed assets
Other net current assets/(liabilities)
Cash at bank and in hand
Tangible fixed assets
Cash at bank and in hand
Other net current assets/(liabilities)|Unrestricted
Funds
£
78,294
24,819
( 2,542 )
100,571
Unrestricted
Funds
£
82,912
3,285
3,753
89,950|Restricted
Funds
£
-
260
-
260
Restricted
Funds
£
-
-
-
-|**Total**
**2021**
**£**|
||||**78,294**
**25,079**
**( 2,542 )**|
||||**100,831**|
||||**Total**
**2020**
**£**|
||||**82,912**
**3,285**
**3,753**|
||||**89,950**|
19