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2022-03-31-accounts

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

HOLMCROFT YOUTH+COMMUNITY CENTRE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Pages
Company Information 1
Report of the Directors 2
Report of the independent examiner 3
Statement of financial activities 4
Balance Sheet 5 - 6
Notes to the financial statements 7 – 11
Detailed Income & Expenditure account 12

HOLMCROFT YOUTH+COMMUNITY CENTRE

Company Information

Company Registration Number: 07512889 Charity Registration Number: 1140305 Directors: Mr D L Lawrence Mr K W Down Mr T M Herriott Mrs R L Owen Mrs L A Whitfield Registered Office: Holmcroft Youth+Community Centre Newlands Avenue Stafford ST16 1NL Accountants: Tim Herriott Enterprises 15 Briarsleigh Stafford Staffordshire ST17 4QP Bankers: The Co-operative Bank 42 Greengate Street Stafford ST16 2BU

1

HOLMCROFT YOUTH+COMMUNITY CENTRE Report of the Directors for the Year Ended 31 March 2022

The Directors present their report and the unaudited financial statements for the year ended 31 March 2022. The directors have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in March 2005.

Introduction and Objects

Holmcroft Youth+Community Centre is a company limited by guarantee, without a share capital and is governed by the directors, subject to the requirements of charity law. The principal object of the Centre is to benefit the community around Holmcroft.

Organisation

The Directors determine the general management policy of the Centre. The day to day management is delegated to the Management Committee. There have been no material changes in the policy since the last report.

Directors Responsibilities

The Directors are required by company law to prepare financial statements which give a true and fair view of the state of affairs of the company at the end of the financial year and of the income and expenditure of the company for the period ending on that date. In preparing those financial statements, the Directors are required to:

The Directors are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Centre and to enable them to ensure the financial statements comply with the Charities Act 2011 and part 15 of the Companies Act 2006. They are also responsible for safeguarding the assets of the Centre and hence for taking reasonable steps for the prevention and detection of the fraud and other irregularities.

Review

The Centre’s funds are retained in order to finance both its activities and the maintenance and enhancement of the Centre buildings. The Directors confirm that any major risks to which the Centre is exposed have been reviewed and procedures have been established to mitigate those risks.

The Directors are delighted that the accounts show a surplus of £3,140, and that the centre has overall assets of £318,180

Approved by the Centre on and signed on its behalf by:

….………………………………………………………….……………… Director

…………………………………………………………………………. … Director

2

HOLMCROFT YOUTH+COMMUNITY CENTRE

Independent Examiners Report

I report on the accounts for the year ended 31 March 2022 set out on pages 4 to 11.

Respective responsibilities of trustees and examiner

The charity's directors are responsible for the preparation of the accounts. The charity's directors consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

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 the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Tim Herriott Enterprises 15 Briarsleigh Stafford ST17 4QP Dated:

3

HOLMCROFT YOUTH+COMMUNITY CENTRE

Statement of Financial Activities For the year ended 31 March 2022

Notes Unrestricted Unrestricted Unrestricted Unrestricted
Funds Funds
2022 2021
£ £
Incoming Resources
Grants (major works) - -
Grants 94,417 104,310
Donations 334 1,523
Incoming resources from other activities
For generating funds:
Lettings/Coffee Bar/Lunch Club 18,383 2,207
Fundraising/Promotions 100 45
Investment income 26 106
Preschool 14,211 3,666
Other income resources 553 23
______ ______
Total Incoming Resources 128,024 111,880
Resources Expended
Direct charitable expenditure
Staffing costs 89,682 80,585
Centre costs 22,073 11,222
Supplies & Services 13,129 14,000
_ _
Total direct charitable expenditure 124,884 105,807
Net Incoming /(Outgoing) Resources 3,140 6,073
Before Transfer
Transfer between funds 0 0
_ _
Net Income Resources Before 2 3,140 6,073
Exceptional Income
Net Movements in Funds 10
Fund balances brought forward/ introduced 315,040 308,967
from previous charity
_____ _ _____ _
Fund Balances Carried Forward
10		 318,180 315,040

4

HOLMCROFT YOUTH+COMMUNITY CENTRE

Balance Sheet As at 31 March 2022

Notes Unrestricted Unrestricted
Funds Funds
2022 2021
£ £
Fixed Assets
Tangible assets 4 285,000 285,000
285,000 285,000
Current Assets
Stock - -
Debtors 5 2,220 918
Cash at bank and in hand 34,955 32,216
37,175 33,134
Creditors:amounts falling due within one year 6 3,995 3,094
______ ______
Net Current Assets/(Liabilities) 33,180 30,040
Total Assets 318,180 315,040
Represented By:
Restricted funds 10 0 0

Unrestricted funds		 10 318,180 315,040
318,180 315,040

5

HOLMCROFT YOUTH+COMMUNITY CENTRE

Balance Sheet - continued As at 31 March 2022

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31[st] March 2022.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31[st] March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on and were signed on its behalf by:

……………………………………………………………………… Director

……………………………………………………………………. Director

6

HOLMCROFT YOUTH+COMMUNITY CENTRE

Notes to Financial Statements For the year ended 31 March 2022

1) Accounting Policies

Basis of Accounting

The financial statements have been prepared under the historical cost convention as modified by the revaluation of tangible fixed assets, and are in accordance with applicable accounting standards, and the Charities Accounting Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP 2005)

Tangible fixed Assets and Depreciation

Tangible fixed assets are stated at cost or valuation less depreciation.

Depreciation is provided at rates calculated to write off the costs of fixed assets, less their estimated residual, over their expected useful lives on the following bases:-

Freehold buildings 0% straight line basis

The buildings were valued in December 2011 by Nicholsons Estate Agents and have been included in the accounts at that valuation.

Expenditure

All expenditure is accounted for gross, and when incurred. Those expenses which are attributable to two or more expense headings are apportioned between those headings on an appropriate basis. Donations made are included in the year in which they are paid.

Income and Donations

Donations are accounted for when received by the Centre. Other income is accounted for on an accruals basis as far as it is prudent to do so. Income includes tax received and recoverable.

7

HOLMCROFT YOUTH+COMMUNITY CENTRE

Notes to Financial Statements For the year ended 31 March 2022 continued

2) Net Incoming Resources for the year

This is stated after charging:
2022 2021
£ £
Administration staff salaries 88,924 79,946
Accountancy fees 1,115 1,115

3) Taxation Status

The centre has charitable status under Section 586 (1) Income and Corporation Taxes Act 1988 and accordingly it is exempt from taxation on its income and surplus for the year.

8

HOLMCROFT YOUTH+COMMUNITY CENTRE

Notes to Financial Statements For the year ended 31 March 2022 continued

4) Tangible Fixed Assets

Centre Total
Buildings
£ £
Cost or valuation
At 1 April 2021 285,000 285,000
Additions - -
Disposals - -
_ _
At 31 March 2022 285,000 285,000
Depreciation
Additions - -
Eliminated on disposals - -
Charge for the year - -
_ _
At 31 March 2021 - -
Net Book Value
At 31 March 2022 285,000 285,000
At 31 March 2021 285,000 285,000

.

The buildings were valued in December 2011 by Nicholsons Estate Agents and have been included in the accounts at that valuation.

9

HOLMCROFT YOUTH+COMMUNITY CENTRE

Notes to Financial Statements For the year ended 31 March 2022 continued

5) Debtors


Debtors
6) Creditors

Trade creditors
Accruals and deferred income
Other creditors
PAYE
2022
£

2,220
2,220
2022
£

2,675
275
163
882
3,995
2021
£
918
918
2021
£
2,032
275
134
653
3,094


/

10

HOLMCROFT YOUTH+COMMUNITY CENTRE

Notes to Financial Statements For the year ended 31 March 2022 continued

7) Capital Commitments

At 31 March 2022 there were no capital commitments for which contracts had been placed or amounts authorised by the Directors.

8) Post Balance Sheet Events

There have been no post balance sheet events since the year end which require disclosure in the financial statements.

9) Employee Number and Costs

Preschool
Administration – incl. Kitchen and cleaning
No employee earned £40,000 p.a. or more.
Aggregate amounts paid in respect of:
Wages
Social Security costs
Pension costs		 2022
5
6
11
2022
£
88,924
-
758
89,682		 2021
5
6
11
2021
£
79,946
-
639
80,585

No Director has received remuneration or benefits in kind from the Centre, for services as a director.

10) Fund Balance

Fund balances brought forward/introduced
Net (expenditure)/income for the year
Fund balances carried forward		 2022
£
315,040
3,140
318,180		 2021
£
308,967
6,073

315,040

11

HOLMCROFT YOUTH+COMMUNITY CENTRE Detailed Income & Expenditure Account For the year ended 31 March 2022

Incoming Resources
Grants (major works)
Grants (preschool)
Grants (other)
Donations
Lettings
Fundraising/Promotions
Investment Income
Preschool
Coffee Bar/Lunch Club
Community Larder
Other Income Resources
Staffing Costs
Salaries
Expenses, Travel and Subsistence
Centre Costs
Building Repairs and Maintenance
Ground Repairs and Maintenance
Centre Activities (including Coffee Bar)
Utilities
Supplies and Services
General supplies and services
Legal, professional & accountancy
Net income/(expenditure) to be carried forward		 2022
£
-
64,980
22,230
334
15,016
100
26
14,211
3,367
7,207
553
128,024
89,682
-
89,682
4,193
2,390
6,882
8,608
22,073
3,664
9,465
13,129
3,140		 2022
£
-
64,980
22,230
334
15,016
100
26
14,211
3,367
7,207
553
128,024
89,682
-
89,682
4,193
2,390
6,882
8,608
22,073
3,664
9,465
13,129
3,140		 2021
£
-
61,861
42,450
1,523
2,207
45
106
3,665
-
-
23
111,880
80,585
-
80,585
2,111
1,890
1,744
5,477
11,222
4,587
9,413
14,000
6,073		 2021
£
-
61,861
42,450
1,523
2,207
45
106
3,665
-
-
23
111,880
80,585
-
80,585
2,111
1,890
1,744
5,477
11,222
4,587
9,413
14,000
6,073

This page does not form part of the statutory financial statements

12