Company registration number: 07672155 Charity registration number: 1142897
## Northwood Past Times
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 August 2020
## **Northwood Past Times**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 3|
|Statement of Trustees' Responsibilities|4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7 to 8|
|Notes to the Financial Statements|9 to 16|
## **Northwood Past Times**
## **Reference and Administrative Details**
**Trustees** W Woodward G Walton E Walton C Ashworth S Rogers Pauline Mitchell Douglas Howle Anthony Thomas **Principal Office** 168-170 Queen's Promenade Blackpool Lancashire FY2 9JN **Registered Office** Oak Street Northwood Stoke-on-Trent Staffordshire ST1 2NW **Company Registration Number** 07672155 **Charity Registration Number** 1142897 **Independent Examiner** Winton Bath Limited Chartered Accountants First Floor 6 Ferranti Court Staffordshire Technology Park Stafford Staffordshire ST18 0LQ
Page 1
## **Northwood Past Times**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2020.
## **Trustees**
W Woodward
G Walton
E Walton
C Ashworth
S Rogers
Pauline Mitchell
Douglas Howle
Anthony Thomas (appointed 1 January 2021)
## **Objectives and activities**
## _**Objects and aims**_
To provide or assist in the provision of facilities for recreation or other leisure time occupation for persons who have need of such facilities by reason of their age, infirmity or social and economic circumstances.
## _**Objectives, strategies and activities**_
The charity`s significant activity is the operation of a not for profit hotel in Blackpool for those individuals identified by its stated objective.
## _**Public benefit**_
Our activities are focused on on achieving our objectives and aims by providing those facilities not always readily available or provided by commecrial enterprises for the public benefit.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is controlled by its governing document, the memerandum and articles of association, and constitutes a limited company, limited by gaurantee, as defined by the Companies Act 2006.
## _**Arrangements for setting key management personnel remuneration**_
The trustees are not remunerated for their services.
## _**Organisational structure**_
The committee is managed by the committee of trustees who meet on a monthly basis. The day to day management of the hotel is carried out by Mr A Thomes , the business manager. The company employs full and part time staff.
Page 2
## **Northwood Past Times**
## **Trustees' Report**
## **Relationships with related parties**
## **NorthwoodDay Care Centre**
The charity is managed by trustees of NorthwoodDay Care Centre. The day care centre has provided support during the period by way of donations.
## _**Major risks and management of those risks**_
## _Risk management_
The charity has identified the risks to which the charity is exposed to ensure that appropriate controls are in place to provide assurance against fraud and error. The trustees have examined the major strategic, business and operational risks which the charity faces and has set up systems and controls to enable regular reporting to lessen the exposure to these risks
The annual report was approved by the trustees of the charity on 6 May 2021 and signed on its behalf by:
......................................... W Woodward Trustee
......................................... Anthony Thomas Trustee
Page 3
## **Northwood Past Times**
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of Northwood Past Times for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
Approved by the trustees of the charity on 6 May 2021 and signed on its behalf by:
......................................... W Woodward Trustee
......................................... Anthony Thomas Trustee
Page 4
## **Northwood Past Times**
## **Independent Examiner's Report to the trustees of Northwood Past Times**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2020 which are set out on pages 6 to 16.
## **Respective responsibilities of trustees and examiner**
As the charity’s trustees of Northwood Past Times (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Northwood Past Times are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of Northwood Past Times as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and 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.
...................................... Winton Bath Ltd Chartered Accountants
First Floor 6 Ferranti Court Staffordshire Technology Park Stafford Staffordshire ST18 0LQ
6 May 2021
Page 5
## **Northwood Past Times**
## **Statement of Financial Activities for the Year Ended 31 August 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Total income
**Expenditure on:**
Charitable activities
5
Total expenditure
Net expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
16
**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Total income
**Expenditure on:**
Charitable activities
5
Total expenditure
Net expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
16|**Unrestricted**
**funds**
**£**
13,480
44,352
57,832
(83,880)
(83,880)
(26,048)
(26,048)
(30,259)
(56,307)
**Unrestricted**
**funds**
**£**
15,190
86,127
101,317
(107,221)
(107,221)
(5,904)
(5,904)
(24,355)
(30,259)|**Unrestricted**
**funds**
**£**
13,480
44,352||**Total**
**2020**
**£**
13,480
44,352|
|---|---|---|---|---|
|||57,832||57,832|
|||(83,880)||(83,880)|
|||(83,880)||(83,880)|
|||(26,048)||(26,048)|
|||(26,048)
(30,259)||(26,048)
(30,259)|
|||(56,307)||(56,307)|
|||||**Total**
**2019**
**£**
15,190
86,127|
|||||101,317|
|||||(107,221)|
|||||(107,221)|
|||||(5,904)|
|||||(5,904)
(24,355)|
|||||(30,259)|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 16.
The notes on pages 9 to 16 form an integral part of these financial statements. Page 6
## **Northwood Past Times**
## **(Registration number: 07672155) Balance Sheet as at 31 August 2020**
|**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Stocks
12
Cash at bank and in hand
13
**Creditors: Amounts falling due within one year**
14
**Net current liabilities**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
15
**Net liabilities**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
16
Balance sheet is out of balance|**2020**
**£**
227,622
2,000
18,577
20,577
(280,141)
(259,564)
(31,942)
(24,366)
(56,308)
(56,307)
(56,307)
(1)|**2019**
**£**
235,783
2,000
2,785|
|---|---|---|
|||4,785
(198,259)|
|||(193,474)|
|||42,309
(72,568)|
|||(30,259)|
|||(30,259)|
|||(30,259)|
|||-|
For the financial year ending 31 August 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The notes on pages 9 to 16 form an integral part of these financial statements. Page 7
## **Northwood Past Times**
## **(Registration number: 07672155) Balance Sheet as at 31 August 2020**
The financial statements on pages 6 to 16 were approved by the trustees, and authorised for issue on 6 May 2021 and signed on their behalf by:
......................................... W Woodward Trustee
......................................... Anthony Thomas Trustee
The notes on pages 9 to 16 form an integral part of these financial statements. Page 8
## **Northwood Past Times**
## **Notes to the Financial Statements for the Year Ended 31 August 2020**
## **1 Charity status**
The charity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Oak Street Northwood Stoke-on-Trent Staffordshire ST1 2NW
The principal place of business is: 168-170 Queen's Promenade Blackpool Lancashire FY2 9JN
These financial statements were authorised for issue by the trustees on 6 May 2021.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
## **Basis of preparation**
Northwood Past Times meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Page 9
## **Northwood Past Times**
## **Notes to the Financial Statements for the Year Ended 31 August 2020**
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 10
## **Northwood Past Times**
## **Notes to the Financial Statements for the Year Ended 31 August 2020**
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class Depreciation method and rate** Land and Buildings 4% on cost Fixtures and fittings 20% on reducing balance Motor vehicles 25% on reducing balance
## **Stock**
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Borrowings**
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
## **3 Income from donations and legacies**
|Donations and legacies;
Donations from individuals|**Unrestricted**
**funds**
**General**
**£**
13,480
13,480|**Total**
**2020**
**£**
13,480|
|---|---|---|
|||13,480|
Page 11
## **Northwood Past Times**
## **Notes to the Financial Statements for the Year Ended 31 August 2020**
|Donations and legacies;
Donations from individuals
**4**
**Income from charitable activities**
Hotel trading
**5**
**Expenditure on charitable activities**
Hotel trading
Hotel trading|**Unrestricted**
**funds**
**General**
**£**
15,190
15,190
**Unrestricted**
**funds**
**General**
**£**
36,016
**Unrestricted**
**funds**
**General**
**£**
81,455
**Unrestricted**
**funds**
**General**
**£**
107,221|**Total**
**2019**
**£**
15,190|
|---|---|---|
|||15,190|
|||**Total**
**2020**
**£**
36,016|
|||**Total**
**2020**
**£**
81,455|
|||**Total**
**2019**
**£**
107,221|
## **6 Analysis of governance and support costs**
## **Governance costs**
Accountancy and independent examiner fee for 2020 is £1,800 (2019 - £1,800).
Page 12
## **Northwood Past Times**
## **Notes to the Financial Statements for the Year Ended 31 August 2020**
## **7 Net incoming/outgoing resources**
Net outgoing resources for the year include:
|Depreciation of fixed assets
Appeals and donations
Job retention scheme
UK government grants
Primary purpose trading
Wages and salaries
Food
Heat and light
Rates and insurance
Repairs and renewals
Laundry services|**2020**
**£**
8,161
13,480
7,710
10,625
26,016
(30,108)
(9,351)
(5,228)
(10,495)
(10,772)
(1,509)|**2019**
**£**
8,856
15,190
-
-
86,127
(45,867)
(10,255)
(7,181)
(11,601)
(3,369)
(3,504)|
|---|---|---|
## **8 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **9 Staff costs**
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
|the year expressed as full time equivalents was as follows:|||
|---|---|---|
|Management
Provision of services|**2020**
**No**
1
2
3|**2019**
**No**
1
2|
|||3|
Contributions to the employee pension schemes for the year totalled £890 (2019 - £986).
Page 13
## **Northwood Past Times**
## **Notes to the Financial Statements for the Year Ended 31 August 2020**
## **10 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **11 Tangible fixed assets**
|**11 Tangible fixed assets**||||||
|---|---|---|---|---|---|
|**Land and**
**buildings**
**£**
**Cost**
At 1 September 2019
270,000
At 31 August 2020
270,000
**Depreciation**
At 1 September 2019
47,952
Charge for the year
5,400
At 31 August 2020
53,352
**Net book value**
At 31 August 2020
216,648
At 31 August 2019
222,048
**12 Stock**
Stocks
**13 Cash and cash equivalents**
Cash on hand
Cash at bank
**14 Creditors: amounts falling due within one year**
Bank loans
Other taxation and social security
Other creditors
Accruals|**Furniture and**
**equipment**
**£**
76,574
76,574
63,106
2,694
65,800
10,774
13,468||**Motor vehicles**
**£**
2,000
2,000
1,733
67
1,800
200
267
**2020**
**£**
2,000
**2020**
**£**
52
18,525
18,577
**2020**
**£**
634
49
277,658
1,800
280,141||**Total**
**£**
348,574
348,574
112,791
8,161
120,952
227,622
235,783
**2019**
**£**
2,000|
||76,574||2,000|||
||63,106
2,694||1,733
67|||
||65,800||1,800|||
||10,774||200|||
||13,468||267|||
||||**2020**
**£**
2,000
**2020**
**£**
52
18,525
18,577
**2020**
**£**
634
49
277,658
1,800
280,141|||
||||||**2019**
**£**
50
2,735|
||||||2,785|
||||||**2019**
**£**
9,882
135
186,442
1,800|
||||||198,259|
Page 14
## **Northwood Past Times**
## **Notes to the Financial Statements for the Year Ended 31 August 2020**
Creditors due within one year includes the following liabilities, on which security has been given by the charity:
|Bank Loan
Covid Bounce back loan|**2020**
**£**
-
634
634|**2019**
**£**
9,882
-|
|---|---|---|
|||9,882|
The company`s bankers hold a fixed and floating charge over all of the company`s assets. In June 2020 the company repaid the bank loan in full.
## **15 Creditors: amounts falling due after one year**
|**2020**
**£**
Bank loans
24,366
Included in the creditors are the following amounts due after more than five years:
**2020**
**£**
After more than five years by instalments
(18,204)|**2019**
**£**
72,568|
|---|---|
||**2019**
**£**
(41,205)|
## **Bank loans and overdrafts after five years**
Covid Bounce Back Loan- This loan is due for repayment commencing in May 2021 and ending in May 2031 at a rate of interest of 2.5%
## **16 Funds**
|**16 Funds**|||||
|---|---|---|---|---|
|**Unrestricted funds**
General
**Unrestricted funds**
General|**Balance at 1**
**September**
**2019**
**£**
(30,259)
**Balance at 1**
**September**
**2018**
**£**
(24,355)|**Incoming**
**resources**
**£**
57,832
**Incoming**
**resources**
**£**
101,317|**Resources**
**expended**
**£**
(83,880)
**Resources**
**expended**
**£**
(107,221)|**Balance at 31**
**August 2020**
**£**
(56,307)|
|||||**Balance at 31**
**August 2019**
**£**
(30,259)|
Page 15
## **Northwood Past Times**
## **Notes to the Financial Statements for the Year Ended 31 August 2020**
## **17 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted**
**funds**
**General**
**£**
227,622
20,577
(280,141)
(24,366)
(56,308)
**Unrestricted**
**funds**
**General**
**£**
235,783
4,785
(198,259)
(72,568)
(30,259)|**Total funds at**
**31 August**
**2020**
**£**
227,622
20,577
(280,141)
(24,366)|
|---|---|---|
|||(56,308)|
|||**Total funds at**
**31 August**
**2019**
**£**
235,783
4,785
(198,259)
(72,568)|
|||(30,259)|
## **18 Related party transactions**
During the year the charity made the following related party transactions:
## **Northwood Day Care Centre**
Northwood Day Care Centre is managed by the same trustees that manage this charity.
Northwood Day Care Centre donated £13480 (2019-£15190) to this charity in the year. Northwood Day Care Centre sends its clients to holiday at the hotel owned by this charity. At the balance sheet date the amount due to Northwood Day Care Centre was £179,619 (2019 - £177,119).
Page 16