# WALTON COMMUNITY & ENTERPRISE PARTNERSHIP 

# ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31°' DECEMBER 2021 

Company Number: 07071909 Charity Number: 1141033 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP 

## CONTENTS 

||Page|
|---|---|
|Trustees’ Annual Report|2|
|Statement ofTrustees’ Responsibilities|6|
|independent Examiner's Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|NotestotheFinancialStatements|10|



1 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP TRUSTEES’ REPORT FOR THE YEAR ENDED 315' DECEMBER 2021 

The trustees are pleased to present their annual report for the year ended 31%' December 2021. 

The financial statements comply with the Charities Act 2011, Companies Act 2006, Accounting and Reporting by Charities; Statement of Recommended Practice (SORP 2015) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (as amended for accounting periods commencing from 18! January 2019). 

## OBJECTIVES AND ACTIVITIES 

Walton Community & Enterprise Partnership (Cornerstone) is a Community Enterprise Centre. its aim is to aid community cohesion by providing flexible, affordable space for local community and enterprise activities. 

Cornerstone’s objects are specifically restricted to the following: 

- the advancement of education 

- - the relief of poverty 

- the retief of unemployment 

- ~ to promote for the benefit of the inhabitants of Walton and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants. 

## ACHIEVEMENTS AND PERFORMANCE 

Prior to the organisation being established a consultation and feasibility study was conducted which looked at the possible uses of the building based on a social and economic profile of the area and a gap of analysis. The study led to the establishment of a Community Enterprise Centre. 

After its establishment, and by offering fair, affordable rents, which includes free car parking, Walton Cornerstone has achieved its ambition of becoming a home to more than 60 small businesses who have employed more than 200 people over the time. During the recent pandemic we were able to offer a three months’ free rent period, this enabled most of the businesses to continue to operate during a very difficult period. We have achieved full occupancy at most times and currently have only two office which are not tenanted. 

Walton Cornerstone gives the local community the opportunity to initiate activities and projects of benefit to local people as well as developing new services and enterprises. The local community will also be made stronger by the creation of a hub of inter-connected and symbiotically networked community groups, socially driven business, locally derived private businesses, and community service providers. Currently our local community run a Foodbank, Mother & Toddler Group, and a Local History Group, whom all benefit from use of the building free of charge. 

We are a non-profit organisation and any funds raised have been used to repair and refurbish the building, examples of this are that we have recently re-roofed 75% of the building which will ensure the life of the building, and we have installed electric hand dryers in the toilets as these are eco-friendlier than paper towels. 

2 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP TRUSTEES’ REPORT FOR THE YEAR ENDED 315’ DECEMBER 2021 

## A history of the site and the current premises 

The current building is the fourth school built by Walton Church, the first dating from the early 1600's. It opened in 1897 and was the junior department of the Walton St Mary Church of England Primary School. The infant department relocated to the same site in the 1990’s and in 2009 Walton St Mary and Arnot St School joined together on the Arnot site to become Arnot St Mary Church of England School. 

The present building was then handed over to Walton Community & Enterprise Partnership and known as “Walton Cornerstone”. The previous school was built in Heathcote Road in 1847. This school consisted of two rooms and accommodated 15 girls and 130 infants. The cost of the project was £1,080. The cost for attending the school at this time was 2d per week per child and 14d for each additional child from the same family. 

By 1870 there had been and expansion of housing in the area and the school was unable to accommodate the needs of the district and a further schoolroom was built facing the school in Heathcote Road. Walton National School opened in Bedford Road in 1895, paid for by the parishioners and was built on land given by the Rectors of Walton and West Derby and by Madame de Falbi and the Trustees of the Walton Glebe Estate. The school changed its name to Walton St Mary Church of England School and finally closed its doors in July 2009 when the building was leased to Walton Community & Enterprise Partnership. 

## Summary of the main activities in relation to these objects 

As noted, the primary objective of Cornerstone is to provide affordable space for local community and enterprise activity. Since occupying the building in 2009, it has let most of the available office space and Cornerstone is delighted to have been the first ‘stepping stone’ for many successful business ventures who have moved on to their own office and shop space. The centre plays host to community activities which generate a regular footfall of around 400 people per week. These include a local Foodbank, local history group and Mam and Tots Group, Resonate Orchestra and Coir, Rock Steady Music and we are becoming a hub for the NHS Covid Injections. 

Cornerstone has hosted open days, debt help sessions, residents meetings and police and council surgeries, and the aim is to provide these sessions as well as start-up sessions for new business enterprises in the future rather than merely offer the space for others to do so. 

Since incorporation Walton Community & Enterprise Partnership has seen a number of successes amongst its tenants with many moving to bigger premises within the centre and others moving on due to the successful growth of their businesses. 

## FINANCIAL REVIEW 

Total income in the year was £76,003 (2020: £61,752). 

Total expenditure in the year was £107,340 (2020: £63,419), leaving a deficit for the year of £31,337 (2020: deficit £1,667) 

At 31% December 2021 the charity’s reserves stood at £25,712 (2020: £57,049). 

All income, expenditure and reserves are unrestricted 

3 



## WALTON COMMUNITY & ENTERPRISE PARTNERSHIP TRUSTEES’ REPORT FOR THE YEAR ENDED 315' DECEMBER 2021 

## RISK MANAGEMENT 

The trustees have conducted their review of major risks to which the charity is exposed and systems have been established to mitigate those risks. These reviews are conducted on a continuing basis. 

## RESERVES POLICY 

It is the policy of the charitable company to maintain unrestricted funds, which are free reserves at a level to cover redundancy provision and three months’ running costs should no further funding be received. 

At the end of the financial year, unrestricted funds totalled £25,712. The charitable company requires £3,892 for redundancy provision and £26,835 for three months’ running costs, (total £30,727). 

The trustees will use the balance of unrestricted reserves to pay salaries and running costs during the Covid-19 pandemic. 

## PLANS FOR THE FUTURE 

Our refurbishment programme includes: 

- e Fitting electric hand dryers in the toilet blocks 

- e¢ Improvements to roof and guttering e Updating the old school toilets with new units suitable for adults. e Purchasing of land currently owned by Liverpool City Council. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

The organisation is a charitable company limited by guarantee, incorporated on 10th November 2009 {company number 07071909) and registered as a charity (charity number 1141033) on 1st April 2011. 

The Governing Instruments under which the charitable company operates comprise of the Memorandum and Articles of Association dated 3rd November 2009 

The Management Committee comprises of two members and trustees and a Company Secretary from a cross section of backgrounds, experiences and skills 

Under Article 8.3, to qualify as a member a person must be either the Rector or a Churchwarden of St Mary’s Church Walton. Trustees consist of a minimum of three to a maximum of 12. 9 shall be nominated and a maximum of 3 trustees may be co-opted. Nominated Trustees shall be nominated by the Rector and Churchwardens for the time being of St Mary’s Walton (who shall determine such nominations by a majority vote), and shall remain in office for so long as the Rector and Churchwardens shall determine, but in any event no longer than 3 years. 

4 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP TRUSTEES’ REPORT FOR THE YEAR ENDED 315’ DECEMBER 2021, 

REFERENCE AND ADMINISTRATIVE DETAILS | i Name Walton Community & Enterprise Partnership “ : Company Number 07071909 Charity Number 1141033 4 Registered Office Walton Cornerstone 2 Liston Street Walton ° , Liverpool Merseyside 4 , L4 5RT \ Trustees Victor Betty (Appointed 12" November 2020) . | Valerie Cumine f (Resigned 5" June 2021) George Gibbons (Appointed 12" October 2020) . ce (Resigned 5" June 2021) Rev Michael Hindley (Appointed 29" April 2020) Rita Lacey ; Rev Trevor Latham ) Terence John May (Appointed 15" July 2021) Brenda Nettleton John K. Taylor Reginald Towner Company Secretary. Brenda Nettleton Independent F Paula Sanchez ACCA Examiner clo LCVS 151 Dale Street, Liverpool, L2 2AH Bankers TSB PO Box 373 Leeds LS14 9GQ . 

| 

## Signed on behalf of the Board of Trustees 

Brenda Nettleton, Trustee Date: 260 En AD... 

5 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP STATEMENT OF TRUSTEES’ RESPONSIBILITIES 

|P i 

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the trustees should follow best practice and: 

- e select suitable accounting policies and then apply them consistently; e observe the methods and principle in the Charities SORP; a c e make judgements and estimates that are reasonable and prudent, ; e prepare the financial statements on the going concern basis unless it id inappropriate to presume that the company will continue as a going concern; 

- ¢ state whether applicable accounting standards have been followed, subject to any material departure disclosed and explained in the financial statements. 

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

This report has been prepared in accordance with the Charities Act 2011, Companies Act 2006, Accounting and Reporting by Charities; Statement of Recommended Practice (Sorp 2015) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (as amended for accounting periods commencing from 1% January 2019). 

## By the Order of the board, 

B Nettleton Company Secretary aa 

2 Liston Street 


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Walton Liverpool Merseyside L4 5RT 


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Date: RE TEcRS.<br>**----- End of picture text -----**<br>


6 



## INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF WALTON COMMUNITY & ENTERPRISE PARTNERSHIP 

| report on the accounts of the charitable company for the year ended 31S December 2021, which are set out on pages 8 to 15. 

Respective The trustees (who are also the directors of the company for the responsibilities of purposes of company law) are responsible for the preparation of trustees and examiner the accounts. The trustees 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 needed. It is my responsibility to: 

- e examine the accounts under section 145 of the 2011 Acct, e to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5){b) of the 2011 Act, and 

- e 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 maiters set out in the statement 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: 

      - e to keep accounting records in accordance with section 386 of the Companies Act 2006; and 

- ¢ to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting Charities 

- have not been met; or 

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

- Name:Relevant professionalMrs Paula Sanchezqualification(-2-f-or body: ACCA—— 2B 4 Address: clo LCVS 151, Dale Street, Liverpool, L2 2AH Dated: 5! Seoteonden. 2922. 

7 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 315? DECEMBER 2021 

||Notes|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||Funds|Funds|Funds|Funds|
|||2021|2021|2021|2020|
|Income and endowments<br>from:||£|£|£|£|
|Charitable activities|3a|75,936|-|75,936|61,725|
|Investments|3b|67|-|67|27|
|Total income||76,003|-|76,003|61,752|
|Expenditure on:||||||
|Charitable activities|4|107,340|-|107,340|63,419|
|Total expenditure||107,340|~|107,340|63,419|
|Net(expenditure)/income net<br>movement in funds||(31,337)|-|(34,337)|(1,667)|
|Total funds brought forward|9, 10|57,049|-|57,049|58,716|
|Totalfundscarriedforward|8-10|25,712|-|25,712|57,049|



The notes on pages 10 to 15 form part of these accounts. All the above amounts relate to continuing activities of the charitable company. 

8 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP Company BALANCE SHEET AS AT 3157 DECEMBER 2021 ; 

Company Number: 07071909 

|WALTON COMMUNITY && ENTERPRISE PARTNERSHIP<br>Company Number: 07071909<br>BALANCESHEET AS ATAS ATAT3157 DECEMBERDECEMBER2021<br>;|WALTON COMMUNITY && ENTERPRISE PARTNERSHIP<br>Company Number: 07071909<br>BALANCESHEET AS ATAS ATAT3157 DECEMBERDECEMBER2021<br>;|WALTON COMMUNITY && ENTERPRISE PARTNERSHIP<br>Company Number: 07071909<br>BALANCESHEET AS ATAS ATAT3157 DECEMBERDECEMBER2021<br>;|WALTON COMMUNITY && ENTERPRISE PARTNERSHIP<br>Company Number: 07071909<br>BALANCESHEET AS ATAS ATAT3157 DECEMBERDECEMBER2021<br>;|WALTON COMMUNITY && ENTERPRISE PARTNERSHIP<br>Company Number: 07071909<br>BALANCESHEET AS ATAS ATAT3157 DECEMBERDECEMBER2021<br>;|WALTON COMMUNITY && ENTERPRISE PARTNERSHIP<br>Company Number: 07071909<br>BALANCESHEET AS ATAS ATAT3157 DECEMBERDECEMBER2021<br>;|WALTON COMMUNITY && ENTERPRISE PARTNERSHIP<br>Company Number: 07071909<br>BALANCESHEET AS ATAS ATAT3157 DECEMBERDECEMBER2021<br>;|WALTON COMMUNITY && ENTERPRISE PARTNERSHIP<br>Company Number: 07071909<br>BALANCESHEET AS ATAS ATAT3157 DECEMBERDECEMBER2021<br>;|WALTON COMMUNITY && ENTERPRISE PARTNERSHIP<br>Company Number: 07071909<br>BALANCESHEET AS ATAS ATAT3157 DECEMBERDECEMBER2021<br>;|
|---|---|---|---|---|---|---|---|---|
|BALANCE SHEET AS ATAS ATAT 3157 DECEMBERDECEMBER 2021<br>;<br>a<br>ii|||||||||
||Notes|||34°December2021|2021|315Décember2020|||
|Fixed assets||||£|£||£|£|
|Tangiblefixed assets||5||j|-|||-|
|Current assets|||||||||
|Debtors||6||1,530|||3,732||
|Cash at bank and in hand||||25,935|||55,773||
|||||27,465|||59,505||
|Current liabilities<br>Creditors: amounts falling<br>duewithin oneyear||LU||(1,753)|{<br>|<br>ar<br>(2,456)||||
|Netcurrentassets||||;|25,712|||57,049|
|Totalassets lesscurrent<br>liabilities|:||||25,712|||57,049|
|Funds:|||||||a|;|
|||||||||||
|Unrestricted funds||8,9|||25,12|||57,049|
|Restricted funds||10|'||.|||-|
||||||25,712|||57,049|



These ‘financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). 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. For the period covered by these accounts the company was bntitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. 

The trustees, who are the directors of the company, acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. 

Signed on behalf of the Board on .202..0 2.22. 

Brendavn l..Nettleton,MCLLIEONTrustee 0. 

9 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315’ DECEMBER 2021 

## 1. Limited Liability 

The charity is a company limited by guarantee. Each member's liability is limited to £1. 

## 2. Accounting Policies 

## Basis of accounting 

The 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 financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (SORP 2015) (as amended for accounting periods commencing from 1st January 2019) and Charities Act 2011 and the Companies Act 2006. 

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 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. 

## Going concern 

The Charitable Company has been significantly impacted financially by Covid-19, due to the loss of income but has agreed to apply unrestricted funds to support its activities. The Trustees therefore have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future and have adopted the going concern basis of accounting in preparing the accounts. 

## Fund accounting 

Unrestricted funds are the charity’s free reserves available for the trustees to apply in accordance with the charitable company’s charitable objectives. 

Restricted funds are subject to specific restrictive conditions imposed by the donor. All restricted funds are accounted for as restricted income and expenditure for the purposes is charged to the fund. 

## Fixed assets 

Capital expenditure of £1,000 and above is treated as a fixed asset and depreciated over its useful life. 

At trustees’ discretion, expenditure on items in relation to improvements to leasehold buildings have not been treated as fixed assets and are dealt with in the Statement of Financial Activities when payment has been made. 

No value has been placed in the accounts on gifted assets or volunteer labour provided in improving its facilities. 

## Income recognition 

All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably. 

10 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31°? DECEMBER 2021 

Donations and legacies comprise of donations and general grants which are recognised in the accounts when received, with the exception of known legacies which are accounted for when their receipt is certain. 

Income from charitable activities is recognised on an accruals basis except for grants receivable, which are recognised on the date on which their unconditional payment is confirmed by the donor. 

Income from investment relates to bank interest received and is recognised when the amount is certain. 

## Expenditure recognition 

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that settlement wili be required and the amount of the obligation can be measured reliably. 

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activities. Support and governance costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor. 

Expenditure on charitable activities relate to the operation of the charity comprising of direct charitable expenditure to meet the objectives of the charitable company. Support and governance costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charitable company. 

## Cash and cash equivalents 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. 

## Financial instruments 

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

## Basic financial assets 

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

11 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 318’ DECEMBER 2021 

## Basic financial liabilities 

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. . 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 

## Derecognition of financial liabilities 

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. 

## Taxation 

income and gains are exempt from taxation as they are received and applied for charitable purposes only. The charitable company benefits from various exemptions from taxation afforded by tax legislation and are not liable to corporation tax on income or gains falling within those exemptions. 

## Critical accounting estimates and judgements 

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

## 3. Income and endowments from: 

||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||Funds|Funds|Funds|Funds|
||2021|2021|2021|2020|
|a. Charitable activities:|£|£|£|£|
|Business support grant|12,143|-|12,143|2,000|
|Hall hire|1,605|-|1,605|3,110|
|Rental Income|62,188|-|62,188|56,615|
||75,936|-|75,936|61,725|
||Unrestricted|Restricted|Total|Total|
||Funds|Funds|Funds|Funds|
||2021|2021|2021|2020|
|b. Investments:|£|£|£|£|
|Bankinterest|67|-|67|27|



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## WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315’ DECEMBER 2021 

## 4. Expenditure on charitable activities 

|4. Expenditure on charitable activities|||||
|---|---|---|---|---|
||Direct|Support&|Total|Total|
||Charitable|Governance|2021|2020|
||Expenditure|Costs|||
||£|£|£|£|
|To provide facilities forrecreationand<br>leisure time|103,813|3,527|107,340|63,419|
|a. Analysed as follows:|||||
||2021|2020|||
|Direct charitable expenditure:|£|£|||
|Staff salary costs|19,748|15,361|||
|Running costs|76,227|32,384|||
|Insurance|5,056|4,866|||
|Security and alarm costs|2,782|591|||
||103,813|53,202|||
|Support & Governance costs:|£|£|||
|Office costs|804|1,595|||
|Bank charges|145|170|||
|Donations|-|7,300|||
|Gifts|71|-|||
|Photocopier Lease|1,156|-|||
|Company filing fee|13|13|||
|HMRC fines|-|200|||
|Sundry expenditure|200|-|||
|Payroll fees|378|314|||
|Accountancy fees|760|625|||
||3,527|10,217|||
|Totalexpenditure on charitable<br>activities|107,340|63,189|||
|Enil (2020: Enil) of the above expenditure relates to restricted funding.|||||
|b. Staff Costs|2021|2020|||
||£|£|||
|Grosssalaries|19,748|15,361|||



## c. Particulars of employees: 

The average number of employees during the year was as follows: 

|||2021|2020|
|---|---|---|---|
|Charitable|activity|0.9|0.9|



13 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315’ DECEMBER 2021 

No employee received emoluments of more than £60,000 during the year. 

The Trustees are not remunerated for their services and are not included in the above number of employees. 

## 5. Tangible fixed assets 

There are no tangible fixed assets acquired during the year or held as at 318t December 2021 (2020: none). 

6. Debtors 

||||2021|2020|
|---|---|---|---|---|
||||£|£|
|Debtors|and|prepayments|1,530|3,732|



7. Creditors: amounts falling due within one year 

||2021|2020|
|---|---|---|
||£|£|
|Accruals|793|1,496|
|Other creditors|960|960|
||1,753|2,456|



## 8. Analysis of net assets between funds 


**----- Start of picture text -----**<br>
2021 Tangible Net Current Total<br>Fixed Assets<br>Assets<br>Unrestricted Funds £ £ £<br>General Fund - 25,712 25,712<br>2020 Tangible Net Current: Total<br>Fixed Assets<br>Assets<br>Unrestricted Funds £ £ £<br>General Fund - 57,049 57,049<br>Unrestricted Funds<br>Movements in the Year<br>2021 Resources Income Expenditure Resources<br>at Beginning at End<br>of year of Year<br>£ £ £ £<br>General Fund 57,049 76,003 (107,340) 25,712<br>**----- End of picture text -----**<br>


9. Unrestricted Funds 

14 



WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 318' DECEMBER 2021 

## Movements in the Year 

|2020|||Resources|Income|Expenditure|Resources|
|---|---|---|---|---|---|---|
|||at|Beginning|||at End|
||||ofyear|||ofYear|
||||£|£|£|£|
|General|Fund||58,716|61,752|(63,419)|57,049|



General Fund is used to finance the charitable company’s general activities as outlined in the Trustees’ Report 

## 10.Restricted Funds 

There were no restricted funds received or expended during the year or held as at 31°! December 2021. (2020: £nil) 

## 11.Lease Commitments 

Financial commitments under non-cancellable operating leases relating to a photocopier lease, this will result in the following payments falling due at 318t December 2021. 

||2021|2020|
|---|---|---|
||£|£|
|Photocopier|||
|Operating leases which expire:|||
|Due within one year|2,742|-|
||2,742|-|



## 12.Related Party Transactions 

There were no material related party transactions during the year which require disclosure (2020: none). 

## 13. Guarantees 

As at 318 December 2021; 11 members had given a guarantee of £1 each in the event of the company winding-up. Total: £11 (2020: 9 members £9). 

15