TIVERTON ADVENTURE PLAY
FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
| Contents | Page |
|---|---|
| Reference and administration details | 1 |
| Report of the Trustees | 2-3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes forming part of the financial statements | 7-10 |
1
TIVERTON ADVENTURE PLAY REFERENCE AND ADMINISTRATION DETAILS
| Registered charity number | 1146910 |
|---|---|
| Company number | 07566876 |
| Principal address | Tiverton Adventure Playground |
| Cowleymoor Road | |
| Tiverton | |
| Devon | |
| EX16 6HH | |
| Trustees | Neal Davey - Chair |
| Matthew Perry - Treasurer | |
| Christopher Martin | |
| Colin Slade | |
| Katharine Smith | |
| Dennis Knowles | |
| Independent examiner | Michelle Hutchings |
| Aspen Waite South West | |
| Chartered Accountants | |
| 21 Bampton Street | |
| Tiverton | |
| Devon | |
| EX16 6AA |
2
TIVERTON ADVENTURE PLAY TRUSTEES REPORT YEAR ENDED 31 MARCH 2021
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
OBJECTIVES AND ACTIVITIES
Summary of the objects of the charity set out in its governing document
The provision of facilities for recreational and other leisure time occupation for children, young people and their families resident in Tiverton district.
Summary of the main activities in relation to these objectives
The Tiverton Adventure Playground is the largest designated adventure play facility within a 50-mile radius of Tiverton in Mid Devon. It is a 3.5 acre wooded playground in Cowleymoor. We aim to open (dependent on funding) in the 13 weeks of school holidays throughout the year, providing play schemes for 8-13 year olds to attend free of charge.
The trustees have had regard to the Charity Commission guidance on public benefit and believe this is achieved via the charity's objectives and activities.
ACHIEVEMENTS AND PERFORMANCE
Summary of the main achievements of the charity during the year
We've achieved funding for a manager, increased hours for a CB position and have an increase in funding due to government Covid19 Grant Schemes.
The playground has managed to stay open as much as possible throughout the pandemic and we've adapted to the ever-changing guidance/ regulations in relation to it.
FINANCIAL REVIEW
Brief summary of the charity's policy on reserves
Our policy on reserves is rather fluid so there is no specific policy. As the playground is generally underfunded and small charity, we often must spend almost every penny we have to open.
STRUCTURE GOVERNANCE AND MANAGEMENT
Type of governing document
Memorandum and Articles incorporated 16 March 2011 as amended by special resolution registered at companies house on 29/03/2012
How the charity is constituted Private company, limited by guarantee, no share capital.
Trustee selection method
Appointed by existing trustees
Policies and procedures adopted for the induction and training of trustees
Our child/vulnerable adult protection policy stipulates that our Trustees are DBS checked.
Our articles of association have several guidelines that we follow - for example ensuring trustees do not have any conflict of interest in relation to the playground.
Other than that - trustees are adopted based on their experience/ competence, learn from and work with each other constantly rather than having an official training process.
The charity’s organisational structure
Chairman, Treasurer, Secretary plus other trustees.
Other
Members of this charitable company guarantee to contribute £1 towards the cost of dissolution and the liabilities incurred by the charity while the contributor was a member.
3
TRUSTEES REPORT YEAR ENDED 31 MARCH 2021 (CONTINUED)
TRUSTEES RESPONSIBILITIES STATEMENT
The trustees (who are also directors of Tiverton Adventure Play for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which 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 the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP (FRS102)
-
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;
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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 operation.
The trustees are responsible for keeping adequate accounting records that 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.
This report has been prepared taking advantage of the small companies exemption of Section 415A of the Companies Act 2006.
This report was approved by the Board on ……………………………………and signed on their behalf by:
…………………………………………..
Neal Davey Company Secretary
4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
OF TIVERTON ADVENTURE PLAY
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021 which are set out on pages 5 to 9.
Responsibilities and basis of report
As the charity 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 company’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 that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
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
-
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
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.
Michelle Hutchings Aspen Waite South West Chartered Accountants Date:
21 Bampton Street Tiverton Devon EX16 6AA
5
TIVERTON ADVENTURE PLAY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2021
| Income and expenditure Income from Donations and legacies Income from charitable activities Other income Total income Expenditure on Charitable activities Total expenditure Net income/ (expenditure) Total funds at 31 March 2020 Total funds at 31 March 2021 |
2 3 4 5 Notes |
- 41,561 - Restricted funds |
- 41,561 - Restricted funds |
1,445 26,006 3 Unrestricted funds |
1,445 26,006 3 Unrestricted funds |
1,445 67,567 3 Total funds 2021. |
1,445 67,567 3 Total funds 2021. |
1,371 14,100 - Total funds 2020 |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 41,561 | 27,454 | 69,015 | 15,471 | |||||||||
| 26,824 | 13,464 | 40,288 | 10,884 | |||||||||
| 26,824 | 13,464 | 40,288 | 10,884 | |||||||||
| 14,737 | 13,990 | 28,727 | 4,587 | |||||||||
| - | 7,324 | 7,324 | 2,737 | |||||||||
| 14,737 | 21,314 | 36,051 | 7,324 |
The notes on pages 7 to 10 form part of these financial statements
6
TIVERTON ADVENTURE PLAY BALANCE SHEET 31 MARCH 2021
| Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Net assets Funds of the charity Unrestricted funds Restricted funds |
Notes 7 11 8 |
£ £ 626 36,334 36,960 36,051 36,051 21,314 14,737 36,051 2021 909 |
£ £ - 7,324 7,324 7,324 7,324 7,324 - 7,324 2020 - |
£ £ - 7,324 7,324 7,324 7,324 7,324 - 7,324 2020 - |
|---|---|---|---|---|
| 36,960 909 |
7,324 - |
|||
| 7,324 | ||||
| 7,324 - |
||||
| 7,324 |
For the year ending 31 March 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
Trustees' responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
-
The trustees 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 financial statements were approved and authorised for issue by the trustees on…………………….
and signed on their behalf by:
……………………………….
NEAL DAVEY
Chair
Company registration number 07566876 The notes on pages 7 to 10 form part of the financial statements
7
TIVERTON ADVENTURE PLAY NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
1. Summary of significant accounting policies
(a) General information and basis of preparation
Tiverton Adventure Play is a private company limited by guarantee and does not have a share capital. The company is a registered charity in England within the United Kingdom . 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.
The charity constitutes a public benefit entity as defined by FRS 102. 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 on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Funds
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
(d) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
- Expenditure on charitable activities;
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
8
TIVERTON ADVENTURE PLAY NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
(g) Debtors and creditors receivable and payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
(h) Cash
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
(i) Taxation
The charitable company is exempt from corporation tax on its charitable activities.
(j) Going concern
Following the global impact of 'COVID-19', at the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
2. Donations and legacies
| Donations Charitable activities Fundraising events Grants receivable Local Authority Covid-19 grants Bookings Investments Bank account interest Resources expended Charitable activities Wages and salaries Management fees Playwork General Running Costs Repairs and maintenance Utilities Insurance Accountancy and independent examination |
Notes 13 6 |
Restricted funds £ - |
Restricted funds £ - |
Unrestricted funds £ 1,445 |
Unrestricted funds £ 1,445 |
Total funds 2021 £ 1,445 |
Total funds 2020 £ 1,371 |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted funds £ - 41,561 - - |
Unrestricted funds £ 191 5,250 20,565 - |
Total funds 2021 £ 191 46,811 20,565 - |
Total funds 2020 £ - 13,350 - 750 |
||||||||
| 41,561 | 26,006 | 67,567 | 14,100 | ||||||||
| Restricted funds £ - |
Unrestricted funds £ 3 |
Total funds 2021 £ 3 |
Total funds 2020 £ - |
||||||||
| Restricted funds £ 23,649 1,411 140 1,057 - 100 467 |
Unrestricted funds £ 1,471 - 6,316 1,520 1,625 1,682 - 850 |
2021 Total £ 25,120 1,411 6,456 2,577 1,625 1,782 467 850 |
2020 Total £ 1,767 - 6,390 787 1,000 940 - - |
||||||||
| 26,824 | 13,464 | 40,288 | 10,884 |
3. Charitable activities
4. Investments
5. Resources expended
9
TIVERTON ADVENTURE PLAY NOTES FORMING PART OF THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
6. Employment costs
| Employment costs Gross wages and salaries Employer National insurance contributions Employment allowance Employer's Pension contributions Number of employees The average number of employees during the year |
2021 £ 24,862 755 (755) 258 |
2020 £ 1,767 - - - |
|---|---|---|
| 25,120 | 1,767 | |
| 2021 3 |
2020 1 |
The average number of employees during the year
No employee received emoluments of more than £60,000 during the year.
| Debtors Other debtors Creditors : Amounts falling due within one year Accruals Other creditors |
2021 £ 626 |
2020 £ - |
|---|---|---|
| 626 | - | |
| 2021 £ 850 59 |
2020 £ - - |
|
| 909 | - |
7. Debtors
8. Creditors : Amounts falling due within one year
9. Trustees remuneration and expenses
No trustees received any remuneration or expenses reimbursed during the year
10. Related party transactions
During the year the Charity paid £902 (2020: nil) to Mr M Perry (treasurer) for purchase of various computer equipment and its accessories.
| 11. Restricted funds DCF - Community Builder DCF - Management Grant |
At 1 April 2020 £ |
Incoming Resources £ 29,561 12,000 |
Resources expenses £ 25,413 1,411 |
Transfers £ |
At 31 March | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 £ 4,148 10,589 |
||||||||||
| - | 41,561 | 26,824 | - | 14,737 |
DCF - Community Builder grant was received towards running expenses for delivery of Tiverton Community Partnership
DCF - management grant was received to cover the costs of Operations and Development manager.
| 12. Analysis of net assets between funds Current assets Current liabilities |
Restricted funds £ 14,737 - |
Restricted funds £ 14,737 - |
Unrestricted funds £ 22,223 (909) |
Unrestricted funds £ 22,223 (909) |
Total funds | Total funds | Total funds 2020 £ - - |
Total funds 2020 £ - - |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 £ 36,960 (909) |
||||||||||||
| 14,737 | 21,314 | 36,051 | - |
10
TIVERTON ADVENTURE PLAY NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
| Grants received Devon Community Foundation Devon Community Foundation Gibbons Family Trust Town Council The Yapp Charitable Trust Local Councillors Normans Family Trust Other Grants |
2021 £ 29,561 12,000 1,500 1,250 1,000 1,000 500 - |
2020 £ - - - - - - - 13,350 |
|---|---|---|
| 46,811 | 13,350 |