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2022-03-31-accounts

SUMMERHILL TRUST LIMITED (A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2022

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 2022

Contents Page
Trustees annual report 1 to 7
Independent examiners report 8
Statement of Financial Activities (including 9
income and expenditure account)
Balance sheet 10
Notes to the financial statements 11 to 20

SUMMERHILL TRUST LIMITED (A company limited by guarantee) TRUSTEE ANNUAL REPORT (including Directors Report) For the year ended 31 March 2022

The trustees are pleased to present their annual report together with the financial statements of the charity for the year ended 31 March 2022, 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:

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 (including Directors Report) For the year ended 31 March 2022

2. Achievements and Performance

The year 2021 to 2022 saw a gradual return to normality. The charity benefitted from the pent-up demand for events and weddings that had been held in abeyance during the pandemic restrictions. This resulted in a steady increase in bookings and engagements earlier and later in the year than would normally be the case.

In August 2021, our interim volunteer manager expressed her desire to leave the post as an unpaid volunteer, in addition another member of staff left. By September 2021, it had become obvious that the employment of a full time Manager was an urgent requirement. This led to the appointment of Stuart Walkinshaw in October 2021.

By the end of the year income levels were commensurate with pre Covid levels although costs had also gone up significantly.

The Bowling Club continued to provide a refuge for members of the community for fresh air and exercise. Volunteering activities resumed in force and new social initiatives were commenced by members of the community.

The charity appointed 5 new Trustees with various skill sets in the period.

3. Plans for the Future

Our focus remains on maintaining better community engagement and the creation of a robust business model that balances our need for revenue with our obligations as a charity.

The charity is currently undergoing a review of its governance and organisational structure with a view to achieving greater transparency and community engagement.

We have catered for succession planning through the appointment of new trustees.

We also hope to appoint a new Chairperson in 2022.

2

SUMMERHILL TRUST LIMITED (A company limited by guarantee) TRUSTEE ANNUAL REPORT (including Directors Report) For the year ended 31 March 2022

4. Membership

Summerhill Trust was originally established in 2010 as an Association to secure the future of the Summerhill Bowling Club. For convenience and accessibility reasons a basic Membership Fee was set at £1, theoretically per annum. However, in the intervening years memberships and renewals were not systematically sought or documented, so the Board has now resolved during 2023 to systematise membership of the Trust, achieving more consistent regular renewals whilst also seeking new members.

5. Public Benefit

The trustees/directors have paid due regard to the Charity Commission guidance on public benefit and are confident that the organisation’s aims, objectives and activities are in accordance with the guidance on public benefit.

Our activities and achievements as outlined demonstrate our commitment to ensuring that the organisation’s resources and activities maximise the potential benefit to our local community.

3

SUMMERHILL TRUST LIMITED (A company limited by guarantee) TRUSTEE ANNUAL REPORT (including Directors Report) For the year ended 31 March 2022

6. 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 07476591
Operational address Summerhill Bowling Club
Winchester Terrace
Newcastle upon Tyne
NE4 6EH
Trustees J Singh (Chair)
D Smith
P Hodes
N Canavan
L Jacobs
R Dougal
D Stockdale (Appointed 27.09.21)
G Farmer (Appointed 22.03.22)
A Sargent (Appointed 22.03.22)
V Collins (Appointed 22.03.22)
S Western (Appointed 22.03.22)
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

4

SUMMERHILL TRUST LIMITED (A company limited by guarantee) TRUSTEE ANNUAL REPORT (including Directors Report) For the year ended 31 March 2022

7. 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:

5

SUMMERHILL TRUST LIMITED (A company limited by guarantee) TRUSTEE ANNUAL REPORT (including Directors Report) For the year ended 31 March 2022

8. 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:

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.

9. 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 £74,173 (2021: £40,490) of which £0 was restricted (2021: £500) and expenditure of £55,812 (2021: £29,609) of which £0 was restricted (2021: £240). There was an operating surplus of £18,361 (2021: £10,881) of which £0 was restricted (2021: £260l).

At 31 March 2022 the Charity had net assets of £119,193 (2021: £100,832) of which £260 was restricted (2021: £260).

6

SUMMERHILL TRUST LIMITED (A company limited by guarantee) TRUSTEE ANNUAL REPORT (including Directors Report) For the year ended 31 March 2022

Reserves policy/No reserves/Going concern

The Trustees consider the level of reserves, £45,518 (2021: £22,538), 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.

10. 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:

 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 14[th] October 2022 and signed on their behalf by:

Jasper Singh (Chair)

7

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

For the year ended 31 March 2022

I report on the financial statements of Summerhill Trust Limited for the year ended 31 March 2022, which are set out on pages 9 to 20.

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:

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:

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: 27/10/22

8

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING SUMMARY INCOME & EXPENDITURE ACCOUNT)

For the year ended 31 March 2022

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds 2022 2021
£ £ £ £
Income from:
Donations and legacies 6 3,292 - 3,292 4,008
Charitable activities
Grants and contracts 7 12,747 - 12,747 30,782
Other trading activities 8 58,134 - 58,134 5,700
-
Total income 74,173 74,173 40,490
Expenditure on:
Raising funds 9 9,777 - 9,777 3,927
Charitable activities
Operation of the charity 10 46,035 - 46,035 25,682
-
Total expenditure 55,812 55,812 29,609
-
Net income/(expenditure) 18,361 18,361 10,881
Reconciliation of funds
Total funds brought forward 100,572 260 100,832 89,950
Total funds carried forward 118,933 260 119,193 100,831
Notes
----- End of picture text -----

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 11 to 20 form an integral part of these accounts.

9

Charity Number 1140081 Company Number 07476591

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

BALANCE SHEET

As at 31 March 2022

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		 £
1,100
1,117
48,617
50,834
( 5,316 )		 Total
2022
£
73,676
73,676
45,518
119,193
118,933
260
119,193		 £
850
72
25,079
26,001
( 3,464 )		 Total
2021
£
78,294
78,294
22,537
100,831
100,571
260
100,831

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 11 to 20 form an integral part of these accounts.

These financial statements were approved by the Board on: 27/10/22
and are signed on its behalf by:
J Singh
Trustee

10

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2022

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 £118,933 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 12 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.

11

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2022

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.

12

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2022

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

.

13

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2022

Analysis of income
6
Donations and legacies
7
Charitable activities
Income from grants
8
Other trading activities
Event bookings
Parking fees
Bar takings
Deposits
Other income
HMRC - Job Retention Scheme
Newcastle City Council
Virgin Money
Donations and gifts
Membership subscriptions
Room hire		 Unrestricted
Funds
£
3,292
-
3,292
10,667
2,080
-
12,747
23,014
2,491
8,954
19,843
3,832
-
58,134		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2022
£
3,292
-
3,292
10,667
2,080
-
12,747
23,014
2,491
8,954
19,843
3,832
-
58,134		 Total
2021
£
4,003
5
4,008
22,689
7,593
500
30,782
1,932
40
2,079
742
-
907
5,700

Income was £74,173 (2021: £40,490) of which £74,173 was unrestricted or designated (2021: £39,990) and £0 was restricted (2021: £500)

14

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2022

Analysis of expenditure on charitable activities

9
10		 Raising funds
Marketing
Charitable activities
Direct costs
Support costs
Governance costs
Staff salary
Payroll fees
Corporation tax
Caretaker/Handyman salaries
Office costs
Contracted staff
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
Refunds for events
Insurance
Bar and event costs
Pension costs		 Unrestricted
Funds
£
9,777
-
9,777
14,400
1,386
1,411
-
1,740
4,604
2,266
1,276
2,741
-
1,743
7,430
-
4,618
548
538
-
146
1,188
46,035		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2022
£
9,777
-
9,777
14,400
1,386
1,411
-
1,740
4,604
2,266
1,276
2,741
-
1,743
7,430
-
4,618
548
538
-
146
1,188
46,035		 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

Expenditure on charitable activities was £55,812 (2021: £29,609) of which £55,812 was unrestricted or designated (2021: £29,369) and £0 was restricted (2021: £240)

11 Fees for examination of the accounts

Independent examiner's fees for reporting on the accounts
Other accountancy services paid to the examiner		 2022
£
1,188
538
1,726		 2021
£
1,188
718
1,906

15

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2022

12 Analysis of staff costs and the cost of key management personnel

Summerhill Limited was managed by a sub-contractor Manager and employed a Handyman/Caretaker.

Salaries and wages
Social security costs
Pension costs (defined contribution pension plan)		 2022
£
19,004
-
1,386
20,390		 2021
£
7,938
-
607
8,545

No employee received remuneration above £60,000 (2021: 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 £0 (2021: £1,936).

13 Staff numbers

The average monthly head count was 1 staff (2021: 1 staff) and the average monthly number of full-time equivalent employees during the year were as follows:

Governance
Charitable activities
The parts of the charity in which the employee's work		 2022
Number
0.3
0.5
0.8		 2021
Number
0.5
0.0
0.5

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 2022
40
40		 2021
220
220

Transaction(s) with related parties

There have been no related party transactions in the reporting period.

16

(A company limited by guarantee)

SUMMERHILL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2022

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 £1,386 (2021: £607). There was £175 outstanding as at 31 March 2022 (2021: £49)

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
18 Stock
Charitable activities:
Opening
Added in period
Expensed in period
Impaired
Closing		 For
distribution
£
-
-
-
-
-
Stock		 For
resale
£
850
250
-
-
1,100
2021		 Fixtures
and
Fittings
£
115,454
-
-
115,454
SL
4%
37,160
4,618
-
41,778
78,294
73,676
For
distribution
£
-
-
-
-
-
Stock		 Total
2022
£
115,454
-
-
115,454
37,160
4,618
-
41,778
78,294
73,676
For
resale
£
1,650
-
( 800 )
-
850
2020		 Total
2021
£
115,454
-
-
115,454
SL
4%
32,542
4,618
-
37,160
82,912
78,294

17

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2022

19 Debtors and prepayments (receivable within 1 year)
20
Cash at bank
Cash in hand
21
Creditors and accruals (payable within 1 year)
Salary holding account
Independent examination of accounts
Other creditors
Accruals
Cash at bank and in hand
Other accruals
Prepayment		 2022
£
1,093
24
1,117
2022
£
48,567
50
48,617
2022
£
1,188
3,953
175
5,316		 2021
£
48
24
72
2021
£
25,029
50
25,079
2021
£
1,188
1,039
1,237
3,464

22 Events after the end of the reporting period

Due to the COVID-19 pandemic, it has put pressure on all businesses in 2021-22. 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 2022

Unrestricted funds
General unrestricted fund
Designated funds
Value of building
Totals		 Fund
balances
brought
forward
£
15,345
85,226
100,571		 Incoming
resources
£
74,173
-
74,173		 Resources
expended
£
( 51,194 )
( 4,618 )
( 55,812 )		 Transfers
£
-
-
-		 Fund
balances
carried
forward
£
38,324
80,608
118,932

18

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2022

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

Purpose of unrestricted funds

General unrestricted fund Designated funds - Value of building

The 'free reserves' after allowing for designated funds Funds to cover the depreciation costs of the premises.

24 Analysis of charitable funds (Continued)

Analysis of movement in restricted funds For the year ending 31 March 2022

Fund
balances
brought
forward
Restricted funds
£
Virgin money
260
Totals
260
Fund
balances
brought
forward
Restricted funds
£
Virgin Money
-
Totals
-
For the year ending 31 March 2021		 Incoming
resources
£
-
-
Incoming
resources
£
500
500		 Resources
expended
£
-
-
Resources
expended
£
( 240 )
( 240 )		 Transfers
£
-
-
Transfers
£
-
-		 Fund
balances
carried
forward
£
260
260
Fund
balances
carried
forward
£
260
260

Purpose of restricted funds

Restricted funds represent income resources used for a specific purpose within the charity as identified by the donor.

Virgin Money

Funds to cover costs of website design.

19

SUMMERHILL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2022

25 Capital commitments

As at 31 March 2022, the charity had no capital commitments (2021 -£nil)

26 Analysis of net assets between funds

Cash at bank and in hand
Other net current assets/(liabilities)
Other net current assets/(liabilities)
Cash at bank and in hand
Tangible fixed assets
Tangible fixed assets		 Unrestricted
Funds
£
73,676
48,357
( 3,099 )
118,934
Unrestricted
Funds
£
78,294
24,819
( 2,542 )
100,571		 Restricted
Funds
£
-
260
-
260
Restricted
Funds
£
-
260
-
260		 Total
2022
£
73,676
48,617
( 3,099 )
119,193
Total
2021
£
78,294
25,079
( 2,542 )
100,831

20