Charity Registration No. 1145717 Company Registration No. 07791840
CURZON CENTRE (A COMPANY LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMENTS
31ST MARCH 2021
CURZON CENTRE
CONTENTS
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustee board | 2 to 5 |
| Report of the independent examiner | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to financial statements | 9 to 13 |
CURZON CENTRE
LEGAL AND ADMINISTRATIVE INFORMATION
| Charity name | Curzon Centre |
|---|---|
| Charity registration number | 1145717 |
| Company registration number | 07791840 |
| Registered office | The Curzon Centre |
| 43 Maxwell Road | |
| Beaconsfield | |
| Buckinghamshire | |
| HP9 1RG | |
| Trustee Board and Directors | John Barnetson Anderson |
| John David Brown | |
| Andrew David Farncombe | |
| Jonathan Nigel Fowke | |
| Mark David Richards | |
| David Michael Saunders | |
| Helen Elizabeth Beatrice Sharman | |
| Dawn Anabel Southgate | |
| Company Secretary | Angela Westmacott |
| Independent Examiners | Harwood Hutton Limited |
| 22 Wcombe End | |
| Beaconsfield | |
| Buckinghamshire | |
| HP9 1NB | |
| Bankers | Barclays Bank PLC |
| 7 Station Parade | |
| Beaconsfield | |
| Buckinghamshire | |
| HP9 2PH |
Page 1
CURZON CENTRE
REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31 MARCH 2021
The trustee board has pleasure in presenting its report and the financial statements of the charity for the year ended 31 March 2021 which are also prepared to meet the requirements for a directors' report for Companies Act purposes.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, the Charities Act 2011 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland(FRS 102)' (the Charities SORP).
Chairman's' report - Achievements and performance
The Covid virus has had a devastating effect on the operatation and the finances of the Curzon Centre,with letting income falling 87% and rental income 56%. Without the furlough scheme we would have had no alternative but to make all our staff redundant. Fortunatley the Curzon centre had substantial accumulated reserves built up from previous years and together with the Furlough scheme this enabled us to retain all our staff on full pay.
Coming out of what we hope is the end of the pandemic, the centre is in good financial health as shown by the financial report and we are now receiving many booking enquires for the use of facilities.
Due to the covid virus we have not been able to provide any youth services since the commencement of the pandemic. We will recommence these services as soon as we are able to.
Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 29 September 2011. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its Articles of Association. The company was entered in the Register of Charities on 1 February 2012.
Trustees
The trustees who are also the directors for the purposes of company law, and who served during the year and up to the date of the financial statements were:
John Barnetson Anderson John David Brown Andrew David Farncombe Jonathan Nigel Fowke Mark David Richards David Michael Saunders Helen Elizabeth Beatrice Sharman Dawn Anabel Southgate
Recruitment and appointment of trustee board
Trustees are elected by the members or co-opted by the Trustees.
Page 2
CURZON CENTRE
REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31 MARCH 2021 (continued)
Trustee induction and training
New trustees undergo an orientation day to brief them on: their legal obligations under charity and company law, the Charity Commission guidance on public benefit and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity.
Organisation
The board of trustees, which can have up to 10 members, administers the charity. The board normally meets quarterly. Sub-committees are formed from time to time for specific purposes. There were no subcommittees during the year.
Related parties
There were no related party transactions to report during the year.
Our objectives and activities
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1) To advance in life and relieve needs of young people through:
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a) The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life.
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b) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
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2) To establish and manage a community centre for the use of the inhabitants of Beaconsfield and the neighbourhood without distinction of sex, sexual orientation, age, disability, nationality, race or political, religious or other opinions, including use of the community centre for meetings, lectures classes or other forms of recreation and leisure time occupation in the interests of social welfare and with the object of improving the conditions for the said inhabitants.
To achieve our objectives for the year and planning our use of the centre, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
We endeavour to publicise to local groups and the general public the facilities available when hiring all or part of the centre.
Provision of youth services is central to the role of the Curzon Centre. Youth activities are provided on 2 evenings each week for 8-11 and 12-15 year olds respectively.
The facilities at the centre are available for hire 7 days a week.
Financial review
The Covid crisis has devestated the income of the centre with our main source income lettings falling from £69,204 to £9,116. The fall in income was substantially mitigated by the recovery in payroll costs provided by the government furlough scheme of £16,962 and local government grants of £5,000. We did though take the opportunity of fully renovating the main toilet and baby changing facilities at a cost of £21,420. The result is the Curzon centre has a deficit for the year of £29,960, reducing the opening reserve brought forward of £116,035 to a closing reserve to be carried forward of £86,075. Overall the Curzon centre has come though the pandemic in reasonably good shape.
Page 3
CURZON CENTRE
REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31 MARCH 2021 (continued)
Pricing policy
There is a standard pricing list showing the hourly rates of hire for each of the available facilities which is reviewed annually. Discounts are available to charitable organisations.
Reserve policy
It is the centre's policy to maintain reserves at a minimum of 8 months of current year's expenditure. Higher reserves will be accumulated from time to time to meet anticipated heavier than normal annual expenditure in a future year.
Responsibilities of the Trustee Board
The trustees (who are the directors of the Curzon Centre for the purposes of company law) are responsible for preparing the report of the Trustee Board and the Financial Statements in accordance with applicable law and United Kingdom accounting standards (United Kingdon Generally Accepted Accouting Practice). 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 which gives a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing those financial statements, they are required to:
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select suitable accounEng policies and then apply them consistently,
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observe the methods and principles in the ChariEes SORP,
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make judgements and esEmates that are reasonable and prudent,
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state whether the policies adopted are in accordance with applicable accounEng standards, subject to any material departures disclosed and explained in the financial statements,
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prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charitable company will continue to operate.
The trustees are responsible for keeping 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable website.
Page 4
CURZON CENTRE
REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31 MARCH 2021 (continued)
Statement as to disclosure to our independent examiners
In so far as the trustees are aware at the time of approving our trustees' annual report:
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there is no relevant informaEon, being informaEon needed by the independent examiner in connecEon with preparing their report, of which the charity's independent examiner is unaware, and
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the trustees, having made enquiries of fellow directors and the charity's independent examiner that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
Approved by the trustee board and signed on their behalf
Mr. M. Richards
Chairman
29/11/202129/11/2021
Page 5
CURZON CENTRE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CURZON CENTRE FOR YEAR ENDED 31 MARCH 2021
I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of Curzon Centre (‘the charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
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 opinions I have formed.
RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accoun�ng records were not kept in respect of the charitable company as required by sec�on 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accoun�ng requirements of sec�on 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the financial statements 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 financial statements to be reached.
Keir Singleton - FCA Harwood Hutton Limited 22 Wycombe End Beaconsfield Buckinghamshire HP9 2PH
29/11/2021
Page 6
CURZON CENTRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
INCOME AND EXPENDITURE ACCOUNT
| Notes Income Donations and grants 2 Bank interest Income from charitable activities Operation of community centre 3 Total incoming resources Expenditure Expenditure on charitable activities 4 Total resources expended Net incoming resources 5 Reconciliation of funds Total funds brought forward Net income/expenditure for year Total funds carried forward |
2021 2020 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 23,286 - 23,286 66 - 66 316 12,566 - 12,566 77,004 |
|---|---|
| 35,918 - 35,918 77,320 |
|
| 65,878 - 65,878 69,086 |
|
| 65,878 - 65,878 69,086 |
|
| 29,960 - - 29,960 - 8,234 |
|
| 116,035 - 116,035 107,801 29,960 - - 29,960 - 8,234 |
|
| 86,075 - 86,075 116,035 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes on pages 9 to 13 form an integral part of these financial statements.
Page 7
CURZON CENTRE
BALANCE SHEET AS AT 31 MARCH 2021
| BALANCE SHEET AS AT 31 MARCH 2021 | ||||
|---|---|---|---|---|
| Notes Fixed assets Tangible assets 8 Current assets Debtors and prepayments 9 Cash at bank Cash in hand Liabilities Creditors falling due within one year 10 Net current assets Net assets The funds of the charity Unrestricted funds 11 Restricted funds Total funds |
£ 809 71,735 100 |
2021 £ 14,564 70,565 |
£ 9,756 94,066 100 |
2020 £ 16,951 99,084 |
| 72,644 2,079 |
103,922 4,838 |
|||
| 85,129 | 116,035 | |||
| 85,129 - |
116,035 - |
|||
| 85,129 | 116,035 |
For the financial year in question the company was entitled 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 directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for 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 12 form part of these accounts.
Approved by the Trustee Board on and signed on its behalf by:
Mr M Richards Mr J Brown Chairman Hon. Treasurer
Date: 29/11/2021
Company registration number: 07791840 Charity regristration number: 1145717
Page 8
CURZON CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Curzon Centre is a company limited by guarantee incorporated in England and Wales. The registered office is The Curzon Centre, 43 Maxwell Road, Beaconsfield, Buckinghamshire HP9 1RG.
1.1 Accounting convention
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 (Charities SORP FRS102 Section 1A) and the companies Act 2006. The charity is a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
Assets and liabilities are recognised at historical cost.
The charity has taken advantage of provisions in SORP for charities applying FRS 102 update bullitin 1 not to prepare a Statement of Cash Flows.
1.2 Preparation of the accounts on a going concern basis
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue operational existance for the forseeable future and despite the impact of the Covid-19 pandemic, which has resulted in the closure of the centre, that there are no material uncertainties regarding going concern.
1.3 Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general activities of the charity.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Where specific provisions imposed by the donor would restrict the use of unspent funds, the income is taken directly to the relevant restricted fund.
1.4 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income, receipt of the income is probable and the monetary value can be measured reliably.
1.5 Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred, when there is a legal obligation that an outflow of resource is probable and the monetary value can be measured reliably.
Charitable expenditure comprises those costs incurred by the charity in the deliverance of its activities and services for its beneficiaries.
Support costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity.
Page 9
CURZON CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE ENDED 31 MARCH 2021 (continued)
1.6 Fixed Assets
Items are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost or a reasonable value on receipt.
Depreciation is provided at 10% of cost on a straight line basis.
1.7 Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Short term debtors are measured price less any provision for impairment
Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.
1.8 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.9 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
1.10 Trustee remuneration
No trustees or other connected persons received any remuneration or had any personal interest in any contract or transaction entered into by the charity during the year ended 31 March 2021.
1.11 Related party transactions
There were no related party transactions during the year.
1.12 Taxation
As a charity the Curzon Centre is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains act 1992 to the extent that these apply to its charitable objects. No tax charges have arisen in the charity.
1.13 Legal status of the Trust
The charity is a company limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
Page 10
CURZON CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)
1.14 Pensions
All employees are entitled to join a pension scheme. All employees have declined to join a pension scheme and since each employee's earnings are below the legal requirement to join a scheme the charity has not set up a pension scheme.
1.15 Government Grants
In response to COVID-19, the UK Government announced a number of initiatives for businesses to assist with cashflow. The company has received financial assistance under the Coronavirus Job Retention Scheme and the amount received has been recognised in the profit and loss account within other operating income.
2 Donations and grants
| Donations Grants Government grants |
2021 2020 £ £ 1,324 - 5,000 - 16,962 - |
|---|---|
| 23,286 - |
3 Income from charitable activities
| Office rental Lettings |
2021 2020 £ £ 3,450 7,800 9,116 69,204 |
|---|---|
| 12,566 77,004 |
4 Expenditure on charitable activities
| Costs directly allocated to activities Gas, water and electricity Caretaking Cleaning Maintenance and renewals Insurance Provision of Youth Services Telephone, postage and stationery Advertising Miscellaneous Depreciation Accountancy Support costs allocated to activities Administration |
Community Youth 2021 2020 Centre Services Total Total £ £ £ £ 4,077 - 4,077 8,780 3,341 - 3,341 3,244 9,331 - 9,331 11,764 23,972 - 23,972 16,353 1,018 - 1,018 1,276 - - - 4,500 548 - 548 673 290 - 290 410 3,251 - 3,251 3,256 2,387 - 2,387 2,589 1,620 - 1,620 1,560 16,043 - 16,043 14,681 |
|---|---|
| 65,878 - 65,878 69,086 |
Page 11
CURZON CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| 5 | Net incoming resources for the year | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| This is stated after charging: | |||
| Independent examiner's remuneration | 1,620 | 1,560 | |
| Depreciation | 2,387 | 2,589 | |
| 6 | Analysis of staff costs and trustee remuneration and expenses | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Salaries and wages | 26,339 | 26,308 | |
| Social security costs | - | - | |
| 26,339 | 26,308 | ||
| During the year no employee received emoluments of more than £60,000 (2020: none). | |||
| 7 | Staff Numbers | ||
| 2021 | 2020 | ||
| Number | Number | ||
| Administration | 2 | 2 | |
| Caretaker | 1 | 1 | |
| Cleaners | 2 | 2 | |
| 5 | 5 | ||
| 8 | Tangible Fixed Assets | ||
| 2021 | 2020 | ||
| Cost | £ | £ | |
| Cost at 1 April 2020 | 41,349 | 40,161 | |
| Additions | - | 1,188 | |
| Cost at 31 March 2021 | 41,349 | 41,349 | |
| Depreciation | |||
| Depreciation at 1 April 2020 | 24,398 | 21,809 | |
| Charge for the year | 2,387 | 2,589 | |
| Depreciation at 31 March 2021 | 26,785 | 24,398 | |
| Net book value at 31 March 2021 | 14,564 | 16,951 | |
| Part of the original cost is fully written down. | |||
| 9 | Debtors: amounts falling due within one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Debtors | 150 | - | |
| Prepayments | 659 | 8,027 | |
| Accrued Income | - | 1,729 | |
| 809 | 9,756 |
Page 12
CURZON CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)
10 Creditors: Amounts falling due within one year
| 10 Creditors: Amounts falling due within one year |
|
|---|---|
| Other creditors Accruals Deferred income 11 Analysis of assets between funds Fixed Current Assets Assets £ £ As at 31 March 2021 14,564 72,644 |
2021 2020 £ £ 519 1,125 1,560 1,500 - 2,213 |
| 2,079 4,838 |
|
| Current Total Liabilities 2021 £ £ (2,079) 85,129 |
Page 13