2020-12-31-accounts

The Fleetwood Initiative

(A company limited by guarantee)

Annual Report and Financial Statements for the Year Ended 31 December 2020

Azets Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ

The Fleetwood Initiative

Contents

Reference and Administrative Details	1
Trustees' Report	2-3
Statement of Trustees' Responsibilities	4
Independent Examiner's Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8 to 13

The Fleetwood Initiative

Reference and Administrative Details Trustees Robert Crane Charisse Baker Secretary Wilsons (Company Secretaries) Limited Principal Office Alexandra House St John's Street Salisbury Wiltshire SP1 2SB Company Registration Number 07887860 Charity Registration Number 1146578 Independent Examiner Azets Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ

Page 1

The Fleetwood Initiative

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 December 2020.

Objectives and Activities

Objects and aims

• i) The objects for which the company is established (the 'Objects') are restricted to: the preservation, protection and improvement of the physical environment by:

• promoting knowledge and understanding of the natural environment and its inter-relationship with the social and economic activities of man;

• advancing the education of the public in the theory and in particular the practice of permaculture, conservation and sustainability issues through the provision of workshops and facilities for self-sufficient living;

• promoting artistic programmes to raise awareness of ecological, environmental and global issues; and - such other means as are charitable.

• ii) The promotion of the arts by the provision or assistance in the provision of facilities including accommodation and resources particularly for all forms of participatory arts.

• iii) The relief of sickness and the preservation and protection of good health by the provision of facilities, accommodation and ancillary services for respite and recuperation of persons undergoing medical treatment, including those who have recently completed courses of treatment, their families and carers.

• In each case for the benefit of the public.

Objectives, strategies and activities

• Internship Program and mentorship for those interested in sustainable food production

• • Community engagement in local sustainability campaigns

• Applied equine assisted therapy for an individual dealing with mental health challenges

• Bridge Programs for those striving to reshape the outcomes of their future

• Providing healthy food for local Foodbank and other food initiatives who’ve had an increase of clients during the Covid pandemic.

• Bridge Program - focused on capacity building for several young people

• Permaculture Design Scholarships for several interns with an external Teacher

• Provision of accommodation for volunteers who are using and assisting with activities run by the charity

Use of Volunteers

Most of the volunteers are helping the charity for a specific reason and consist of those people who are either being helped, or were previously helped, by the charity.

Some of these volunteers are living on site and therefore this enabled the charity to continue to provide their activities and services during the COVID-19 pandemic by assisting in the growing and provision of food to the local foodbank.

Page 2

The Fleetwood Initiative

Trustees' Report

Structure, Governance and Management

Recruitment and appointment of new trustees

Under the requirements of the Memorandum and Articles of Association the minimum number of Directors is two.

Induction and training of new trustees

New Directors are appointed by the current Board of Directors where a need is identified. New Directors are provided with all relevant documentation on the charity to enable them to carry out their duties.

Financial Review

During the year income was £78,024 (2019: £57,982) and expenditure was £81,724 (2019: £43,798). This resulted in a surplus of £800 (2019: £14,184).

During the year the Charity has spent £Nil (2019: £12,986) on capital expenditure.

Reserves policy

At 31 December 2020 net assets were £85,824 (2019: £85,024).

Approved by the trustees of the charity on ……………………………………… and signed on its behalf by:

……………………………………… Robert Crane Trustee

Page 3

The Fleetwood Initiative

Statement of Trustees' Responsibilities

The trustees (who are also the directors of The Fleetwood Initiative 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 ………………………………………..and signed on its behalf by:

……………………………………… Robert Crane Trustee

Page 4

The Fleetwood Initiative

Independent Examiner's Report to the trustees of The Fleetwood Initiative

I report on the accounts of the charity for the year ended 31 December 2020 which are set out on pages 6 to 13.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

• examine the accounts under section 145 of the 2011 Act;

• to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

• to state whether particular matters have come to my attention.

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:

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

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

have not been met; or

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

……………………………………… Azets Ashcombe Court Woolsack Way Godalming Surrey GU27 2FD

Date: ………………………………………

Page 5

The Fleetwood Initiative

Statement of Financial Activities for the Year Ended 31 December 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note Income and Endowments from: Donations and legacies 3 Other income Total incoming resources Resources expended on: Charitable activities 4 Total resources expended Net movement in funds Total funds brought forward Total funds carried forward	Unrestricted funds Unrestricted funds 2020 2019 £ £ 78,024 57,982 4,500 -
	82,524 57,982
	(81,724) (43,798)
	(81,724) (43,798)
	800 14,184 85,024 70,840
	85,824 85,024

All of the charity's activities derive from continuing operations during the above two periods.

Page 6

The Fleetwood Initiative

(Registration number: 07887860) Balance Sheet as at 31 December 2020

Note Fixed Assets Tangible assets 9 Current Assets Debtors 10 Cash at bank Current Liabilities Amounts falling due within one year 11 Net Current Assets Total assets less current liabilities Net Assets Funds of the charity: Unrestricted funds 12 Total funds	2020 £ 36,862 _ 39,112 15,250 _ 54,364 (5,400) _ 48,962 _ 85,824 _ 85,824 _ 85,824 _ 85,824 _	2019 £ 53,347 _ 23,507 10,978 _ 34,485 (2,808) _ 31,677 _ 85,024 _ 85,024 _ 85,024 _ 85,024 _

The financial statements were approved by the trustees, and authorised for issue on ………………………………. and signed on their behalf by:

…………………………………………. Robert Crane Trustee

Page 7

The Fleetwood Initiative

Notes to the Financial Statements for the Year Ended 31 December 2020

1 CHARITY STATUS

The charity is a charity limited by guarantee 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.

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 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

The Fleetwood Initiative 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.

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.

Page 8

The Fleetwood Initiative

Notes to the Financial Statements for the Year Ended 31 December 2020

2 ACCOUNTING POLICIES (CONTINUED)

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.

Legal and administrative 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

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

Improvements to property	- not provided
Plant and machinery	- 25% on cost
Fixtures and fittings	- 25% on cost
Motor vehicles	- 25% on reducing balance

Debtors and creditors receivable/payable within one year

Debtors and creditors are recorded at the value of the invoice receivable/payable

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.

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The Fleetwood Initiative

Notes to the Financial Statements for the Year Ended 31 December 2020

3 INCOME FROM DONATIONS AND LEGACIES

3 INCOME FROM DONATIONS AND LEGACIES
		Total	Total
		2020	2019
	Note	£	£
Donations and legacies:
Donations from individuals		62,419	36,367
Donations from local government		-	15,234
Gift aid reclaimed		15,605	6,381
		_	_
		78,024	57,982
		_	_
4 EXPENDITURE ON CHARITABLE ACTIVITIES
		Total	Total
		2020	2019
	Note	£	£
Allocated support costs	5	77,390	41,066
Legal and administrative costs	6	4,334	2,732
		_	_
		81,724	43,798
		_	_
5 ANALYSIS OF ALLOCATED SUPPORT COSTS
		Unrestricted	Unrestricted
		Funds	Funds
		Total	Total
		2020	2019
		£	£
Wages		3,000	-
Interns		12,496	-
Beekeeping costs		740	-
Chicken upkeep costs		336	-
Conference attendance		-	970
Volunteer expenses		20,275	9,827
Insurance		-	335
Horse training and board		11,198	3,156
Repairs and maintenance		14,368	5,491
Printing, postage and stationery		755	383
Computer and website costs		72	713
Tuition fees		2,224	-
Heat and light		-	478
Motor and travel costs		3,174	5,434
Bank charges		160	104
Sundry expenses		57	-
Depreciation of fixed assets		10,057	14,175
(Profit)/loss on disposal of fixed assets		(1,522)	-
		_	_
		77,390	41,066
		_	_

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The Fleetwood Initiative

Notes to the Financial Statements for the Year Ended 31 December 2020

6 LEGAL AND ADMINISTRATIVE COSTS

	Unrestricted	Unrestricted
	Funds	Funds
	Total	Total
	2020	2019
	£	£
Accountancy	3,600	2,208
Legal and professional fees	734	524
	_	_
	4,334	2,732
	_	_

7 TAXATION

The charity is a registered charity and is therefore exempt from taxation.

8 TRUSTEES REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees’ expenses

No expenditure was reimbursed to the trustees in the year ended 31 December 2020 nor for the year ended 31 December 2019.

9 TANGIBLE FIXED ASSETS

Improvements to Plant and Fixtures and Property Machinery fittings £ £ £ Cost At 1 January 2020 23,863 37,929 10,748 Disposals - (12,858) - _ _ _ At 31 December 2020 23,863 25,071 10,748 _ _ _ Depreciation At 1 January 2020 - 20,441 9,563 Charge for the year - 6,268 1,086 Released on disposals - (6,430) - _ _ _ At 31 December 2020 - 20,279 10,649 _ _ _ Net Book Value At 31 December 2020 23,863 4,792 99 _ _ _ At 31 December 2019 23,863 17,488 1,185 _ _ _	Motor Vehicles £ 21,026 - _ 21,026 _ 10,215 2,703 - _ 12,918 _ 8,108 _ 10,811 _	Total £ 93,566 (12,858) _ 80,708 _ 40,219 10,057 (6,430) _ 43,846 _ 36,862
		_ 53,347 _

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The Fleetwood Initiative

Notes to the Financial Statements for the Year Ended 31 December 2020

10 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

			2020	2019
			£	£
Other debtors			39,112	23,507
			_	_
11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			2020	2019
			£	£
Other creditors			5,400	2,808
			_	_
12 MOVEMENT IN FUNDS – CURRENT YEAR
			Net
			Movement
	At 1.1.20		in funds	At 31.12.20
		£	£	£
Unrestricted funds
General funds		85,024	800	85,824
	_		_	_
TOTAL FUNDS		85,024	800	85,824
	_		_	_
Net movement in funds included in the above ae as follows:
	Incoming		Resources	Movement
	resources		expended	in funds
		£	£	£
Unrestricted funds
General fund		82,524	(81,724)	800
	_		_	_
TOTAL FUNDS		82,524	(81,724)	800
	_		_	_

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The Fleetwood Initiative

Notes to the Financial Statements for the Year Ended 31 December 2020

12 MOVEMENT IN FUNDS (continued) – PRIOR YEAR

12 MOVEMENT IN FUNDS (continued) – PRIOR YEAR
		Net
		Movement
	At 1.1.19	in funds	At 31.12.19
	£	£	£
Unrestricted funds
General funds	70,840	14,184	85,024
	_	_	_
TOTAL FUNDS	70,840	14,184	85,024
	_	_	_
Net movement in funds included in the above ae as follows:
	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	57,982	(43,798)	14,184
	_	_	_
TOTAL FUNDS	57,982	(43,798)	14,184
	_	_	_

13 RELATED PARTY TRANSACTIONS

During the year the Charity received donations totalling £62,419 (2019: £36,367) from Rob Crane, a director and trustee. These donations were as a result of cash donations and amounts paid personally on behalf of the Charity.

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