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 2022
Northwood Past Times
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
Northwood Past Times
Reference and Administrative Details
Trustees W Woodward G Walton E Walton C Ashworth S Rogers Pauline Mitchell Douglas Howle Anthony Thomas Mandy Machin June Sheldon Charity Registration Number 1142897 Company Registration Number 07672155 Registered Office Oak Street Northwood Stoke-on-Trent Staffordshire ST1 2NW Principal Office 168-170 Queen's Promenade Blackpool Lancashire FY2 9JN Independent Examiner Winton Bath Group 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 2022.
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.
Financial review
Policy on reserves
Having assessed the main risks of the charity it is the policy of the trustees to maintain a balance unrestricted reserves not invested in fixed assets, which equates to at least six months unrestricted payments and is estimated to be £30000. It is anticipated that this target level of unrestricted reserves will be reached in the next two to three years.
Principal funding sources
This principal funding source is the surplus generated from the hotel and donations received from Northwood Day Care Centre.
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
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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
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 the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 proper accounting records that can 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Page 3
Northwood Past Times
Trustees' Report
The annual report was approved by the trustees of the charity on 30 January 2023 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 ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022.
Responsibilities and basis of report
As the charity’s trustees of the Company (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 the Company 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:
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accounting records were not kept in respect of Northwood Past Times as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 Group Ltd Chartered Accountants ICAEW
First Floor 6 Ferranti Court Staffordshire Technology Park Stafford Staffordshire ST18 0LQ
30 January 2023
Page 5
Northwood Past Times
Statement of Financial Activities for the Year Ended 31 August 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Charitable activities 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 Note Income and Endowments from: Charitable activities 3 Investment income Total income Expenditure on: Charitable activities 4 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 |
Unrestricted funds £ 98,240 98,240 (91,183) (91,183) 7,057 7,057 (38,668) (31,611) Unrestricted funds £ 88,953 2 88,955 (71,314) (71,314) 17,641 17,641 (56,309) (38,668) |
Total 2022 £ 98,240 |
|---|---|---|
| 98,240 | ||
| (91,183) | ||
| (91,183) | ||
| 7,057 | ||
| 7,057 (38,668) |
||
| (31,611) | ||
| Total 2021 £ 88,953 2 |
||
| 88,955 | ||
| (71,314) | ||
| (71,314) | ||
| 17,641 | ||
| 17,641 (56,309) |
||
| (38,668) |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
Northwood Past Times
(Registration number: 07672155) Balance Sheet as at 31 August 2022
| Note Fixed assets Tangible assets 8 Current assets Stocks 9 Cash at bank and in hand 10 Creditors: Amounts falling due within one year 11 Net current liabilities Net liabilities Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 13 |
2022 £ 212,855 1,500 28,377 29,877 (274,343) (244,466) (31,611) (31,611) (31,611) |
2021 £ 220,017 2,000 22,206 |
|---|---|---|
| 24,206 (282,891) |
||
| (258,685) | ||
| (38,668) | ||
| (38,668) | ||
| (38,668) |
For the financial year ending 31 August 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on 30 January 2023 and signed on their behalf by:
......................................... W Woodward Trustee
......................................... Anthony Thomas Trustee
The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
Northwood Past Times
Notes to the Financial Statements for the Year Ended 31 August 2022
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 30 January 2023.
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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
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.
Income and endowments
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 8
Northwood Past Times
Notes to the Financial Statements for the Year Ended 31 August 2022
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 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.
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).
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Northwood Past Times
Notes to the Financial Statements for the Year Ended 31 August 2022
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 discretion in furtherance of the objectives of the charity.
3 Income from charitable activities
| Unrestricted funds General £ 98,240 Unrestricted funds General £ 88,953 |
Total 2022 £ 98,240 |
|---|---|
| Total 2021 £ 88,953 |
4 Expenditure on charitable activities
| Note Governance costs |
Unrestricted funds General £ 89,299 1,884 91,183 |
Total 2022 £ 89,299 1,884 91,183 |
Total 2021 £ 69,334 1,980 |
|---|---|---|---|
| 71,314 |
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Northwood Past Times
Notes to the Financial Statements for the Year Ended 31 August 2022
5 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.
6 Staff costs
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| charity during the year expressed as full time equivalents was as follows: | ||
|---|---|---|
| Management Provision of services |
2022 No 1 2 3 |
2021 No 1 1 |
| 2 |
Contributions to the employee pension schemes for the year totalled £1,057 (2021 - £587).
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Northwood Past Times
Notes to the Financial Statements for the Year Ended 31 August 2022
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
8 Tangible fixed assets
| 8 Tangible fixed assets |
|||||
|---|---|---|---|---|---|
| Land and buildings £ Cost At 1 September 2021 270,000 At 31 August 2022 270,000 Depreciation At 1 September 2021 58,752 Charge for the year 5,400 At 31 August 2022 64,152 Net book value At 31 August 2022 205,848 At 31 August 2021 211,248 9 Stock Stocks 10 Cash and cash equivalents Cash on hand Cash at bank 11 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals |
Furniture and equipment £ 76,574 76,574 67,955 1,724 69,679 6,895 8,619 |
Motor vehicles £ 2,000 2,000 1,850 38 1,888 112 150 2022 £ 1,500 2022 £ 50 28,327 28,377 2022 £ 374 272,025 1,944 274,343 |
Total £ 348,574 348,574 128,557 7,162 135,719 212,855 220,017 2021 £ 2,000 |
||
| 76,574 | 2,000 | ||||
| 67,955 1,724 |
1,850 38 |
||||
| 69,679 | 1,888 | ||||
| 6,895 | 112 | ||||
| 8,619 | 150 | ||||
| 2022 £ 1,500 2022 £ 50 28,327 28,377 2022 £ 374 272,025 1,944 274,343 |
|||||
| 2021 £ 50 22,156 |
|||||
| 22,206 | |||||
| 2021 £ 200 280,771 1,920 |
|||||
| 282,891 |
Page 12
Northwood Past Times
Notes to the Financial Statements for the Year Ended 31 August 2022
12 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £Nil (2021 - £Nil).
13 Funds
| 13 Funds | |||
|---|---|---|---|
| Unrestricted funds General Unrestricted funds General 14 Analysis of net assets between funds Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Balance at 1 September 2021 £ (38,668) Balance at 1 September 2020 £ (56,309) |
Incoming resources £ 7,057 Incoming resources £ 17,641 Unrestricted funds General £ 212,855 29,877 (274,343) (31,611) Unrestricted funds General £ 220,017 24,206 (282,891) (38,668) |
Balance at 31 August 2022 £ (31,611) |
| Balance at 31 August 2021 £ (38,668) |
|||
| Total funds at 31 August 2022 £ 212,855 29,877 (274,343) |
|||
| (31,611) | |||
| Total funds at 31 August 2021 £ 220,017 24,206 (282,891) |
|||
| (38,668) |
Page 13
Northwood Past Times
Notes to the Financial Statements for the Year Ended 31 August 2022
15 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 paid invoices on behalf of this charity totalling £2781. 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 £185,352 (2021 - £182,571).
A.Thomas
- A. Thomas is a director of this company.
A.Thomas paid funds into the charity totalling £372 in the year
A.Thomas withdraw funds from charity in respect of this loan totalling £12160.
. At the balance sheet date the amount due to A.Thomas was £86,411 (2021 - £98,178).
Page 14
Northwood Past Times
Detailed Statement of Financial Activities for the Year Ended 31 August 2022
| Income and Endowments from: Charitable activities (analysed below) Investment income (analysed below) Total income Expenditure on: Charitable activities (analysed below) Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2022 £ 98,240 - 98,240 (91,183) (91,183) 7,057 7,057 (38,668) (31,611) |
Total 2021 £ 88,953 2 |
|---|---|---|
| 88,955 | ||
| (71,314) | ||
| (71,314) | ||
| 17,641 | ||
| 17,641 (56,309) |
||
| (38,668) |
This page does not form part of the statutory financial statements. Page 15
Northwood Past Times
Detailed Statement of Financial Activities for the Year Ended 31 August 2022
| Charitable activities UK Government grants Primary purpose trading Investment income Interest on cash deposits Charitable activities Opening stock Purchases Closing stock Wages and salaries Staff pensions (Defined contribution) - pension scheme 1 Rates Insurance Light, heat and power Repairs and renewals Printing, postage and stationery Laundry services Advertising Sundries Telephone Licences Bank charges Depreciation of freehold property Depreciation of motor vehicles Depreciation of office equipment Accountancy fees |
Total 2022 £ 4,164 94,076 98,240 - - (2,000) (10,169) 1,500 (37,597) (1,057) (5,136) (3,972) (4,602) (5,713) (44) (3,747) (7,622) (328) (1,121) (141) (389) (5,400) (37) (1,724) (1,884) (91,183) |
Total 2021 £ 33,829 55,124 |
|---|---|---|
| 88,953 | ||
| 2 | ||
| 2 | ||
| (2,000) (7,436) 2,000 (30,547) (587) (2,061) (3,812) (3,523) (7,278) (16) (1,160) (3,751) (114) (1,084) (296) (64) (5,400) (50) (2,155) (1,980) |
||
| (71,314) |
This page does not form part of the statutory financial statements. Page 16