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2021-03-31-accounts

South Bookham SPACE Limited

Report and Financial Statements

Year ended 31 March 2021

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South Bookham
S P A C E
The SPorts And Community
Environment
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South Bookham SPACE Limited

Report and financial statements 2021

South Bookham SPACE in brief

South Bookham SPACE Limited is a registered charity and manages the South Bookham SPACE (SPACE ), Dorking Road, Bookham, Surrey KT23 4PB and the outdoor Multi Use Games Area ( Outer SPACE ). We have recently completed the construction of the Social SPACE extension to provide better social facilties for users of Outer Space and an alternative area for small exercise classes and meetings.

Activities typically provided for local residents at SPACE and Outer SPACE include:

At weekends SPACE and Outer SPACE are reserved primarily for private children’s parties.

For further details of activites, or to hire either SPACE, Social SPACE or the Outer SPACE please visit our website at www.southbookhamspace.org.uk

Directors and Trustees

Trevor Goul-Wheeker (Chairman) John Chandler Nancy Goodacre Jeremy Thomas FCA (Treasurer)

Company Secretary

Jeremy Thomas

Honorary Independent Examiner

Keith Watson

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South Bookham SPACE Limited

Report and financial statements 2021 Trustees’ Report

The trustees are pleased to present their report with the financial statements for the year ended 31 March 2021.

Objectives and Activities

The objects of South Bookham SPACE Ltd (“the Charity”) are set out in the charity’s Memorandum of Association and in summary are:

In pursuit of those objects the Charity manages the South Bookham SPACE and hires its facilities to members of the public from Great Bookham and the neighbourhood, to members’ clubs, and to those who wish to provide services to the local community consistent with the charity’s objects. The Charity seeks to ensure that the various regular users provide a diverse range of activities for both young people and adults. The trustees have had regard to Charity Commission guidance on public benefit.

Achievements and Performance

The year has been dominated by the impact of the Covid-19 pandemic and the government lockdown measures. Outer SPACE was in use from the end of May until October but the hall was only available for September, October and a brief period in December.

During the first lockdown period we put in place measures to enable the hall to be used safely, including the introduction of a Covid-19 Risk Assessment and user compliance return, a one-way system, guidance on social distancing and the provision of hand sanitiser. The trustees are grateful to the regular users who provided classes for the community during the brief period that was possible. Sadly, we were not able to host any parties during the year, but we were pleased to provide additional facilities to Polesden Lacey Infants School, enabling them to welcome back an additional class year for part of the summer term.

During the period SPACE was closed we were able to deal with a backlog of maintenance issues on the hall, as well as completing the furnishing of our new small meeting area Social SPACE.

At the end of the year, we agreed to become a Community Ally for Plastic Free Bookham.

Financial Review

Income from hire of the South Bookham SPACE, Outer SPACE snd Social SPACE totalled £2,906 (2020: £19,279) the decrease reflecting the fact that the facilites were closed for much of the year and our decision to halve hire rates to assist regular users forced to reduce class numbers to maintain social distancing. The shortfall in hire income was offset by the receipt of government business grants, made to operators of leisure facilities such as us to compensate for lockdown restrictions, of £20,289 (2020: £nil). In addition we received the promised grant of £20,000 from London Marathon Charitable Trust towards the construction costs of Social SPACE, which enabled us to repay the bridging loan from Bookham Tennis Club, and donations totallying £2,948 from the Co-Op Local Community Fund towards the equipping of Social SPACE. The trustees are most grateful to both these organisations for their support. Together with other sundry receipts, total incoming resources for the year were £46,181 (2020: £58,471).

Costs of charitable activities before impairment and depreciation totalled £9,309 (2020: £20,891). Recurring costs were considerably lower than the previous year due to reduced cleaning and maintenance costs.

Total resources expended including depreciation were £18,324 (2020: £78,820 including a £50,000 fixed asset impairment provision) leaving net incoming resources for the year of £27,857 (2020: net outgoing resources £20,349).

The charity ended the year with total funds of £87,292 (2020: £59,435). Cash balances were £28,022 (2020: £14,393).

Reserves policy

The reserves policy adopted by the Trustees for the Charity is as follows:

1. to build up a maintenance reserve of £30,000 by 2025 to meet an expected increased need for expenditure on maintaining South Bookham SPACE;

2. to hold undesignated reserves equal to between 6 and 12 months’ non-capital cash expenditure as working capital for the charity, to guard against any shortfall in income.

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South Bookham SPACE Limited

Report and financial statements 2021

In accordance with this policy and in light of the surlus for the year, the trustees have transferred £5,000 to the maintenance reserve.

Plans for Future Periods

Immediate plans are very much focussed on re-opening the facilities, following the easing of lockdown, in line with government guidelines. Many of our regular users are keen to restart activities but we anticipate it will take some time to regain the previous level of activity. A priority for us will be to take advantage of the new facilities offered by Social SPACE, including working with existing users of Outer SPACE to expand numbers, the promotion of physical activites for the currently inactive, and development of a regular coffee morning or drop-in surgery for the local housing association.

Structure, Governance and Management

The charity is a company limited by guarantee, registered in England & Wales, company number 7318693, and is a registered charity in England & Wales, registration number 1141705. The registered office is South Bookham SPACE, Dorking Road, Bookham Surrey KT23 4PB.

The charity was incorporated on 19 July 2010 and the governing document is the Memorandum of Association of that date. The powers of the Charity are exercised by the directors who are also trustees for the purposes of charity law. The trustees are answerable to the members of the Charity. One third of the trustees must submit themselves for re-election at each annual general meeting, together with any trustees appointed since the previous annual general meeting. The charity is seeking a replacement for Matt Hoath, who resigned as a Trustee and Facilities Officer, during the year.

Membership of the charity is open to any individual or organisation that applies to the charity in the form required by the trustees, pays the membership fee (currently £5 for 5 years) and is approved by the trustees. The trustees welcome applications from any individuals or organisations with an interest in the charity’s objects. The liability of members is limited to £10 each in the event of a winding-up of the charity. The trustees are pleased that most regular users of the South Bookham SPACE have become members together with many local organisations, to help ensure the Charity acts in the best interests of the local community.

Day to day management of the charity’s affairs is carried out by a management committee of the trustees and other volunteers nominated by the trustees. All appropriate members of the committee have been DBS checked. The management committee meets regularly. The charity has a formal induction pack for new trustees, and reviews the need for training appropriate to each trustee’s responsibilities. None of the trustees or other members of the management committee receive any remuneration for carrying out their duties.

The Trustees wish to thank all the volunteers who give their time and expertise to support SPACE for free. They enable the charity to offer excellent facilties to the local community, while offering extremely low hire rates. We particularly thank our Facilities Officer for all the additional work made necessary to make SPACE as Covid-19 secure as possible as well as completing numerous maintenance works and our Regular Bookings Officer for maintaining excellent communications with our regular hirers during a very challenging year.

The major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems or procedures have been established to manage those risks.

Directors and trustees

The directors and trustees during the period under review were:

T Goul-Wheeker JDN Thomas J Chandler N Goodacre

Independent examiner

Keith Watson has kindly agreed to continue as independent examiner.

The Company is exempt from the requirement to appoint auditors under Section 249B(2) of the Companies Act 1985.

Approved by the Board of Trustees and signed on behalf of the Board

Jeremy Thomas Trustee 5 May 2021

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South Bookham SPACE Limited

Report and financial statements 2021

Unaudited Statement of Financial Activities (including Income & Expenditure Account) for the year ended 31 March 2021

Year ended 31 March Year ended 31 March 2021 Year ended 31
March 2020
Note Unrestricted Restricted Total Total
Funds Funds
£ £ £ £
Incoming resources
Voluntary income
-
Fundraising		 - - - 6,772
-
Grants and donations		 2 20,289 22,948 43,237 32,218
Income from charitable activities 3 2,906 - 2,906 19,279
Other incoming resources 4 38 - 38 202
_____ _____ _____ _____
Total incoming resources 23,233 22,948 46,181 58,471
===== ===== ===== =====
Resources expended
Costs of charitable activities 5 10,762 7,348 18,110 74,658
Fundraising costs - - - 3,915
Governance costs 214 - 214 247
_____ _____ _____ _____
Total resources expended 10,976 7,348 18,324 78,820
===== ===== ===== =====
Net incoming resources 12,257 15,600 27,857 (20,349)
Funds at beginning of period 59,435 - 59,435 79,784
_____ _____ _____ _____
Total Funds at end of period 71,692 15,600 87,292 59,435
===== ===== ===== =====

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South Bookham SPACE Limited

Report and financial statements 2021

Unaudited Balance Sheet at 31 March 2021

Note
Fixed assets
Tangible fixed assets
6
Current assets
Debtors and prepayments
7
Cash at bank and in hand
8
Total assets
Current liabilities
9
Non-current liabilities
10
Total liabilities
Net assets
Funds
Unrestricted
11
Restricted
11
Total Funds		 £
1,709
28,022
3,242
12,395		 2021
£
73,198
29,731
102,929
15,637
87,292
71,692
15,600
87,292		 £
2,204
14,393
21,766
13,329		 2020
£
77,933
16,597
94,530
35,095
59,435
59,435
-
59,435

The charity is entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act relating to the keeping of accounting records and the preparation of financial statements which give a true and fair view of the state of affairs of the charity at the end of each financial period and of its income and expenditure for each financial period.

These financial statements have been approved in accordance with the special provisions of the Companies Act relating to small companies.

Signed on behalf of the Board of Trustees

Jeremy Thomas 5 May 2021 Trustee

Company Registration No. 07318693

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South Bookham SPACE Limited

Report and financial statements 2021

Notes to the accounts

1. Accounting policies

Accounting convention

The financial statements have been prepared under the historical cost convention and are in accordance with applicable United Kingdom accounting standards.

Funds accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.

Restricted funds are subject to the restrictions on their expenditure imposed by the donors.

Incoming resources

Grants are included in the accounts when received.

Goods and services donated by third parties are included in income at their estimated value. In accordance with the Statement of Recommended Practice for Charities the accounts do not include either the value of services supplied by trustees and other volunteers or discounts provided by suppliers.

Income from charitable activities, comprising hire fees, is recognised as income in the period of hire.

Interest is accrued on a daily basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold premises - 8.33% on cost less impairment provision
Fixtures & fittings and plant & equipment - 20% on cost less impairment provision

Impairment provisions are made where necessary to reduce the carrying value of tangible fixed assets to their economic value to the charity having regard to the terms of the lease.

2. Grants

Grants
Year ended 31 Year ended 31
March 2021 March 2020
£ £
Government Business Grants 20,289 -
London Marathon Charitable Trust 20,000 -
Co-Op Local Community Fund 2,948 -
Mole Valley District Council - 20,000
Thomas Flack Trust Fund - 10,000
Bookham and Horsley Rotary Club - 1,000
Miscellaneous - 1,218
43,237 32,218

3. Income from charitable activities

Income from charitable activities
Year ended 31 Year ended 31
March 2021 March 2020
£ £
Income from hire of hall 1,934 18,554
Income from hire of Outer SPACE only 972 725
2,906 19,279

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South Bookham SPACE Limited

Report and financial statements 2021

Notes to the accounts (continued)

4. Other incoming resources

Other incoming resources
Year ended 31 Year ended 31
March 2021 March 2020
£ £
Membership fees 0 22
Interest income 17 155
Amazon Smile 21 25
38 202

5. Costs of charitable activities

Year ended 31 March Year ended 31 March Year ended 31 March 2021 Year ended 31
March 2020
Unrestricted Restricted Total Total
Funds Funds
£ £ £ £
Electricity 1,507 - 1,507 1,674
Cleaning, including supplies 1,337 - 1,337 3,123
Rent and rates 500 - 500 570
Water 168 - 168 344
Insurance 1,151 - 1,151 1,025
Maintenance, decoration and small fittings 3,306 - 3,306 12,134
Marketing 80 - 80 128
Performing Rights Society/PPL 390 - 390 489
Legal and professional fees 735 - 735 65
Other expenses 135 - 135 1,339
9,309 - 9,309 20,891
Impairment provision - - - 50,000
Depreciation 1,453 7,348 8,801 3,767
10,762 7,348 18,110 74,658

6. Fixed assets

Leasehold land
& Buildings
£
Cost
Balance brought forward
280,462
Additions
2,235
Balance carried forward
282,877
Accumulated depreciation and impairment provision
Balance brought forward
210,863
Depreciation charge for year
6,861
Balance carried forward
210,863
Net book value
Brought forward at 1 April 2020
69,599
Carried forward at 31 March 2021
65,154		 Plant and
Machinery
£
9,728
297
10,025
9,719
40

9,759
9
267		 Fixtures and
fittings
£
64,900
1,534
66,434
56,756
1,901
58,657
8,144
7,778		 Total
£
355,271
4,066
359,337
277,338
8,801
286,139
77,933
73,198

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South Bookham SPACE Limited

Report and financial statements 2021

Notes to the accounts (continued)

7.
Debtors: amounts falling due within one year
Debtors
Prepayment of expenses
VAT recoverable
8.
Cash at Bank
Current account at HSBC Bank PLC
Notice account at Shawbrook Bank PLC
All cash at bank is guaranteed by the UK Financial Services
Compensation Scheme
9.
Current liabilities: due in less than one year
Trade creditors
Other creditors
Income received in advance
Accrued expenses
Loan from Bookham Tennis Club
10.
Non-current liabilities: due in greater than one year
Income received in advance		 2021
£
465
1,244
-
1,709
2021
£
27,022
1,000
28,022
2021
£
-
25
2,319
898
-
3,242
2021
£
12,395		 2020
£
144
1,283
777
2,204
2020
£
13,393
1,000
14,393
2020
£
3,548
25
2,340
853
15,000
21,766
2020
£
13,329

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South Bookham SPACE Limited

Report and financial statements 2021

Notes to the accounts (continued)

11. Funds

Funds
Undesignated reserves
Unrestricted funds - fixed assets
Designated fund – maintenance reserve
Total unrestricted funds
Restricted funds – fixed assets
Total funds		 Brought forward
1 April 2020
£
(18,498)
77,933
-		 Movement
in year
£
27,592
(20,335)
5,000		 Transfer
£
Carried forward
31 March 2021
£
-
9,094
-
57,598
-
5,000
59,435
-
59,435		 12,257
15,600
27,857		 -
-
-		 71,692
15,600
87,292

. 12. Capital commitments

Capital commitments
2021 2020
£ £
Capital expenditure authorised - 2,165

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South Bookham SPACE Limited

Report and financial statements 2021

Independent Examiner’s Report to the Trustees of South Bookham SPACE Ltd

I report on the financial statements for the year ended 31 March 2021, which are set out on pages 4 to 9.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 (1) of the Charities Act 2011 (“the 2011 Act”) and that an independent examination is needed.

It is my responsibility to:

Basis of 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 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

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

  3. to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Name: Keith Watson

Address: 3 Railway Cottages, Station Approach Horsley KT24 6QX Date: 5 May 2021

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