## **Registered Charity No. 1148971**
## **Registered Company No. 07776923**
## **PRESTON COMMUNITY LIBRARY (Company Limited by Guarantee)**
## **Report and Accounts**
## **31 March 2021**
## **Contents**
||**Page**|
|---|---|
|Company information|1|
|Trustee's Report|2|
|Statement of director/ trustees responsibilities|6|
|Independent Examiner's Report|7|
|Statement of Financial Activities|8|
|Movements in Accumulated Funds|8|
|Balance sheet|9|
|Notes to the accounts|10|
## **PRESTON COMMUNITY LIBRARY**
## **Legal and Administrative information**
|**Directors &Trustees**|Names|
|---|---|
||Philip Bromberg|
||Charles Rudd|
||Howard Melvyn Hacker|
||Linda Rosemary Green|
|**Secretary**|Charles Rudd|
|**Charity Number**|Number: 1148971|
|**Company Number**|Number: 07776923|
|**Registered Office**|Address|
||9 Ravenscroft Avenue|
||Wembley|
||London|
||HA9 9TJ|
|**Independent Examiner**|Paul Lorber|
||17 Stapenhill Road|
||Wembley HA0 3JF|
|**Bankers**|Barclays Bank Plc|
||1 Churchill Place|
||London|
||E14 5HP|
Page 1
## **PRESTON COMMUNITY LIBRARY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2021**
The trustees, who are also directors of the company for the purposes of the Companies Act, present their annual report and the financial statements for the year ended 31 March 2021.
The directors of the charitable company (the charity) are its trustees for the purposes of charity law and throughout this report are collectively referred to as the trustees. Their responsibilities include all the responsibilities of directors under the Companies Acts and of trustees under the Charities Act.
The Charity had a successful year raising new funds and developing its activities. There are sufficient funds to continue to pursue its objectives as a going concern.
## **Name, registered office and constitution of the charity**
The full name of the charity is Preston Community Library.
The legal registration details are :-
_Date of incorporation_ 14th September 2012 _Company Registration Number_ 7776923 _Charity Registration Number_ 1148971 _The Registered Office is_ 9 Ravenscroft Avenue Wembley, HA9 9TJ _Email:_ prestoncommunitylibrary@gmail.com
## **Objectives and Activities of the Charity**
## _**A summary of the objects of the charity as set out in its governing document.**_
To advance the education of the public by running a library. To promote for the benefit of the inhabitants of Brent and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.
## _**The charity's aims including the changes or differences it seeks to make through its activities**_
Access is provided to books and study space and computers for children, young people and adults with the aim of providing life long learning opportunities to enable everyone to develop their individual potential through a range of services, events andactivities, with opportunities for self- expression, skill development and extending their knowledge attitude and experience.
Page 2
## **PRESTON COMMUNITY LIBRARY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2021**
The Charity works in partnership with others to promote the love of books and reading.
## _**Strategic Plan**_
The charity aims to support, extend and improve a wide range of services, facilities, and opportunities to encourage children and adults to read more and to develop their potential.
Alongside this, the charity continues to participate in local activities and initiatives that contribute to positive cohesion of local neighbourhoods and communities.
The charity considers the needs and interests of members of the local community in developing new activities to ensure as wide ranging participation from the diverse local population.
The trustees monitor and evaluate the work of the charity, against local and national standards in order to ensure that the maximum support and benefits are offered to individuals and groups in the community, that all relevant legislation is met, and guidelines are adhered to. This includes all safeguarding, health and safety, and other mandatory and advisory policies.
The charity also liaises with other relevant and interested parties to work where possible in partnership and for the mutual benefit of all concerned.
The charity aims to provide interesting volunteering opportunities for local people.
## _**Public Benefit**_
In setting our objectives and planning future activities the Trustees gave careful consideration to the Charity Commission's general guidelines on public benefit. The Charity looks to promote our our library and the value of reading and all the related activities for the benefit of local people living and working in the area close to Preston Community Library. Our objective is to help improve the wellbeing and quality of life of local people.
## _**An explanation of the charity's main objectives for the year.**_
The charity operates a community library and undertakes a variety of activities from its library premises in Preston. It also undertakes book related activities including showing films, history talks,classes, celebrations and provision of public accessible art.
All our projects offer safe and stimulating environments for people of all ages encouraging them to participate and develop by trying something new.
## _**An explanation of the charity's strategies for achieving its stated objectives.**_
The stated objectives are achieved by working in partnership with local people and other community organisations providing similar facilities.
Page 3
## **PRESTON COMMUNITY LIBRARY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2021**
## _**Details of significant activities (including its main programmes, projects, or services provided that contribute to the achievement of the stated objectives.**_
Due to the pandemic we had to close for much of the period. We responded to this by running online events and activities for our members and by regular contact with our volunteers. Our ESOL classes ran online and we showed films online with speakers as well as author readings. After year end we moved to temporary premises. We have re-opened and are building up our services. We have books on loan for children and adults, computers, regular film nights, maths tuition and classes for under fives. We are planning a fun-day to encourage more involvement from members of the local community.
The financial position of the charity is secure and existing activities are well supported by our volunteers and those taking part.
## _**Future Developments**_
The Trustees will continue to seek additional funding from other sources to sustain and expand the activities of the community library & related activities. We will move to a new permanent building in 2023.
## **Structure, Governance and Management**
## _**Nature of the Governing Document and constitution of the charity**_
The charity is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association. The directors of the company are also trustees of the charity. Eligibility for membership of the charity, and membership of the board of trustees is governed by the memorandum and articles of association. There are no restrictions in the governing document on the operation of the charity or on its investment powers , other than those imposed by general charity law.
## _**The organisational structure of the charity and how decisions are made.**_
Trustees' of the charity meet on a regular basis and agree the broad strategy and areas of activity for the charity, including consideration of investment, reserves and risk management policies and performance. Trustees are assisted by a working committee to organise day-to-day activities.
Volunteers of the charity have delegated authority to carry out day to day work within policies and direction agreed by the trustees.
## _**Membership of a wider network**_
The charity works in partnership with other community libraries in Brent and has ongoing relationship with Brent Council's library service.
## _**The major risks to which the charity is exposed and reviews and systems to mitigate risks**_
The trustees identify the major risks to which the charity is exposed each financial year when preparing and updating a strategic plan, in particular those related to the operations and finances of the charity. The trustees then review any major risks which have been identified, and establish systems to mitigate those risks. The charity is satisfied that the systems are in place to mitigate their exposure to the major risks which have been so identified and reviewed.
Page 4
## **PRESTON COMMUNITY LIBRARY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2021**
## _**Financial Review**_
The financial results for the period are set out on pages 8 to 9.
## _**Investment and Management Powers**_
These are vested in the Trustees' and are governed by the memorandum and articles of association of the charity.
## _**Reserves**_
The Trustees have examined the charitable company's requirements for reserves in light of the main risks to the organisation and are satisfied that the level of current reserves are sufficient to give the charity a secure future and meet its future obligations.
## _**Transactions and Financial position**_
The financial statements are set out on pages 8 to 14. The financial statements have been prepared implementing the 2005 Revision of the Statement of Recommended Practice for Accounting and Reporting by Charities issued by the Charity Commission for England and Wales (effective April 2005) and in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102). As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.
The Statement of Financial Activities show net surplus resources for the year of a revenue nature of £36,028 (2020 £ 83) .
The total reserves at the year end of £52,704 which are well above the charity's current annual level of expenditure.
## _**Specific changes in fixed assets**_
There were no specific changes to the fixed assets during the year.
## **Share Capital**
The company is limited by guarantee and therefore has no share capital.
## **The Directors and Trustees of the Charity during the Year Ending 31st March 2021**
All the directors of the company are also trustees of the charity, and there are no other trustees. All of the trustees who served during the year are named on page 1.
The board has the power to appoint additional trustees as it considers fit to do so.
The directors are members of the company.
Page 5
## **PRESTON COMMUNITY LIBRARY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2021**
## **The members of the Board of Trustees of the Charity at the date the report and financial statements were approved were:-**
Philip Bromberg Charles Rudd Howard Melvyn Hacker Linda Green
## **Bankers and Independent Examiner**
These are stated on page 1.
## **Directors and Trustees Responsibilities in relation to the financial statements**
Charity Law and the Companies Acts require the Board to prepare financial statements for each financial
- select suitable accounting policies and then apply them consistently;
- -observe the methods and principles in the Charities SORP
- make judgments and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
- state whether applicable accounting standards and statements of recommended practice have been followed , subject to any material departures disclosed and explained in the financial statements;
The trustees are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Directors and Trustees' Responsibilities in relation to the financial statements**
The trustees are also responsible for the contents of the trustees' report, and the responsibility of the auditors in relation to the trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.
## **Method of preparation of accounts**
The trustees, in their capacity as directors, state that the accounts have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies.
## **Independent Examiner**
Mr Paul Lorber was appointed as Independent Examiner by the Board of Directors on 31 March 2022. A resolution proposing Mr Paul Lorber be re-appointed as Independent Examiner of the charity will be put to the Annual General Meeting.
## **Approval**
Approved by the board of directors and Trustees on 30 June 2022 and signed on its behalf:
## **Philip Bromberg - Director & Trustee**
Page 6
## **PRESTON COMMUNITY LIBRARY**
## **Independent Examiner's'report to the Trustees of Preston Community Library**
I report on the accounts for the year ended 31st March 2021 which are set out on pages 8 to 14.
Respective responsibilities of the Trustees and Independent Examiner
As trustees of the charity, the members of the company are responsible for the preparation of the accounts. They 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.
It is my responsibility to
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the General Directions given by the Charity Commissioners section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## **Basis of Independent Examiner's Statement**
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 the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion on the accounts.
## **Independent Examiner's Statement**
In connection with my examination, no matters have come to my attention
1. which give me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with s.130 of the 2011 Act; or
- to prepare accounts which accord with these accounting records 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.
Paul Lorber Independent Examiner
17 Stapenhill Road Wembley HA0 3JF
Date : 4 July 2022
Page 7
## **PRESTON COMMUNITY LIBRARY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2021**
|Notes
**Incoming Resources**
**Incoming Resources from Charitable**
**activities**
Donations inc. Gift Aid
Grants Received in cash
2(a)
Grants received in kind
2(b)
**Other Incoming Resources**
Miscellaneous Income
3
Interest Receivable on Bank Deposit
Librarian Theatre Ticket sales
**Total Income**
**Resources Expended**
Direct Charitable Activity Costs 4
**Other Expenditure**
Management and Administration
Expense
6
Governance Costs
7
**Total Resources Expended**
**Net Movement of Funds**
Transfer between Funds
Total Funds Brought Forward
**Total Funds at 31 March 2021**|**Restricted**
**£**
0
0
0
0
0
0|**Unrestricted**
**£**
0
33,494
200
9,137
0
0
42,831
6,590
0
213
6,803
36,028
0
16,676
52,704|**Total**
**2021**
**2,020**
**£**
**£**
0
0
33,494
2,000
200
0
9,137
9,433
0
0
0
0|
|---|---|---|---|
||0
0
0
0||42,831
11,433
6,590
11,199
0
0
213
150|
||0||6,803
11,349|
||0
0
0
0||36,028
84
0
0
16,676
16,592|
||||52,704
16,676|
All the charity's operations are classed as continuing. Movements on reserves and all recognised gains and losses are shown above.
The notes on pages 10 to 14 form an integral part of these accounts
Page 8
## **PRESTON COMMUNITY LIBRARY**
## **BALANCE SHEET AS AT 31 MARCH 2021**
|Notes
**FIXED ASSETS**
Tangible Assets
8
**Current Assets**
Debtors
9
Cash at Bank and in Hand
**Creditors: Amounts Falling Due**
**Within twelve months**
10
**Net Current Assets**
**Provisions for liabilities and**
**charges**
11
**Net assets**
**Funds :**
Unrestricted Funds
12
Restricted Funds
12
**Total Charity Funds**|2021
£
-
350
52,354
52,704
52,704
-
52,704
52,704
-
52,704|2020
£
-
3,005
16,593|
|---|---|---|
|||19,598|
|||(2,922)|
|||16,676
-|
|||16,676|
|||16,676
-|
|||16,676|
The directors are satisfied that the charitable company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the charitable company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approved by the board of directors and Trustees on 30 June 2022 and signed on its behalf:
Philip Bromberg Director and Trustee
The notes on pages 10 to 14 form an intergral part of these accounts
Page 9
## **PRESTON COMMUNITY LIBRARY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2021**
## **1. Accounting Policies**
## **a) Accounting Bases**
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102), and all other applicable accounting standards, as modified by the 2005 Revision of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005. The accounts have been drawn up in accordance with the provisions of the Charities Act 2011 and the Companies Act.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.
## **b) Accounting convention**
The financial statements are prepared, on a going concern basis, under the historical cost convention as modified by the revaluation of freehold land and buildings and fixed asset investments.
The charity is dependent on its ability to generate income from donations, grants and rental contributions and as a consequence the going concern basis is also dependent on its ability to continue to generate income from these sources..
## **c) Incoming Resources**
All income from grants, donations, subscriptions are shown in the accounts in the period in which they are receivable. All income from fund raising activities is shown gross, with the associated costs included in fundraising costs.
## **d) Investment Income**
Bank Interest received is included on an accrued basis
## **e) Resources Expended**
Resources expended are included in the Statement of Financial Activities on an accrual basis., inclusive of any VAT which cannot be recovered.
Expenditure which is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of these resources.
## **f) Fundraising Costs**
Fundraising expenditure comprises costs incurred in inducing people and organisations to contribute financially to the charity's work. This includes the cost of advertising for donations and the staging of special fundraising events.
Page 10
## **PRESTON COMMUNITY LIBRARY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2021**
## **1. Accounting Policies continued**
## **g)Taxation**
As a registered charity, the company is exempt from income and corporation tax to the extent that its
income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the
company , and is therefore included in the relevant costs in the Statement of Financial Activities
## **h) Governance Costs**
Governance costs includes those costs associated with meeting the constitutional and statutory requirements of the including cost of running the charity, renting and running office premises, staff salaries for administrative staff, legal fees, accountancy and audit fees and costs linked to the strategic management of the charity.
## **i) Tangible fixed assets**
Depreciation is provided on the tangible fixed assets at rates calculated to write off the cost of the asset over its expected useful life, at the following rates :
Furniture & Office Equipment 25% on reducing straight line basis Computer Equipment 33.33% on reducing straight line basis
## **2. Grants Received in**
|**2. Grants Received in**
2(a) received in cash
Government Covid Grants
Community Action Grant
Ashford Place & other - Memory Lounge
2(a) received in kind
Paul Lorber - Independent Examination|**Restricted**
**Unrestricted**
**£**
**£**
0
31,984
0
1,510
0
0
0
33,494
0
200|**2021**
**2020**
**Total**
**£**
**£**
31,984
-
1,510
-
0
2,000|
|---|---|---|
|||33,494
2,000|
|||200
0|
||0
200|200
0|
Page 11
## **PRESTON COMMUNITY LIBRARY**
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2021**
|**3. Miscellaneous Income**
Quiz Nights & other events
Yoga, Esol and other classes
Film activity donations
Printing & Book sales
Gift Aid relating tpo previous years
Other
**4. Resources Expended**
**Note**
**Restricted**
**Unrestricted**
**Direct Charitable Activity Costs**
**£**
**£**
Film Expenditure & License
0
491
Newspapers
0
0
Books
0
0
Memory Lounge expenses
0
0
Operating Expenses
5
0
6,099
0
6,590
**5. Operating Expenses**
**Restricted**
**Unrestricted**
**£**
**£**
Rent
0
0
Premises reinstatement provision
0
0
Electricity
0
664
Water Charges
0
86
Event refreshments
0
0
Printing & Copier hire & stationery
0
1,224
Covid related expenses
0
1,797
Legal fees
0
0
WIFI, phone, website & internet & Zoom
0
738
TV License
0
157
Three Rings volunteer system
0
104
DBS checks
0
40
Cleaning
0
695
Other expenses
0
138
Christmas Tree
0
128
Insurance
0
328
0
6,099
**6. Management and Administration Costs**
These include the general running costs of the charity
Accountancy
Bank Charges
Depreciation
**7. Governance Costs**
Companies House
Independent Examination|**2021**
**2020**
**£**
**£**
86
3,728
125
3,635
-
1,725
-
276
8,926
-
0
69|
|---|---|
||9,137
9,433|
||**2021**
**2020**
**£**
**£**
491
514
0
966
201
830
6,099
8,688|
||6,590
11,199|
||**2021**
**2020**
**£**
**£**
0
0
0
0
664
2,922
86
143
0
249
1,224
1,227
1,797
0
0
2,662
738
701
157
155
104
0
40
0
695
111
138
57
128
0
328
461|
||6,099
8,688|
||**2021**
**2020**
**£**
**£**
0
0
0
0
0
0|
||0
0|
||**2021**
**2020**
**£**
**£**
13
150
200
0|
||213
150|
Page 12
## **PRESTON COMMUNITY LIBRARY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2021**
## **8. Fixed Assets**
As at 31 March 2021 the Charity did not own any fixed assets of material value.
|**9. Debtors**
LB of Brent business rates recoverable
Insurance prepaid
**10. Creditors: Amounts Falling Due Within twelve months**
Grants received in advance
Rent Received in Advance
N Power electricty charges
**11. Provision for liabilities and charges**
Reserve for Premises Reinstatement
**12. Analysis of net assets between funds**
Restricted Unrestricted
**£**
**£**
Tangible fixed assets
0
0
Currents assets
-
52,704
Creditor: falling due within one year
-
-
Creditor: falling due after more than one year
-
-
Net Assets at 31 March 2019
-
52,704|**2021**
**2020**
**£**
**£**
-
3,005
350
-|
|---|---|
||350
3,005|
||**2021**
**2020**
**£**
**£**
-
-
-
-
-
2,922|
||-
2,922|
||**2021**
**2020**
**£**
**£**
0
0|
||**2021**
**2020**
**£**
**£**
0
0
52,704
19,598
-
(2,922)
-
-|
||52,704
16,676|
Page 13
## **PRESTON COMMUNITY LIBRARY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2021**
|**13. Movement in funds**
**Restricted**
Total restricted funds
**Unrestricted**
General Funds
Total unrestricted funds
Total Funds|**At 1 April**
**2020**
**Incoming**
**Resources**
**£**
**£**
0
0
0
0
16,676
42,831
16,676
42,831
16,676
42,831|**Outgoing**
**Resources**
**Transfers**
**between**
**Funds**
**at 31**
**March**
**2021**
**£**
**£**
-
0|
|---|---|---|
|||-
0
0|
|||(6,803)
52,704|
|||(6,803)
0
52,704|
|||(6,803)
0
52,704|
## **Purpose of Restricted Funds**
The restricted funds will be utilised against specified activities for which the grant was provided for.
The Unrestricted reserves at the year end of £ 52,704 will be utilised for the purposes of the operating expenses, improvements to premises and purchase of additional equipment.
## **14. Trustees Donations, Remuneration and Expenses**
During the period the charity entered into following transactions with members of the trustees:
## **a) Payments made:**
No members of the trustees received fees or expenses in the year. The total amount of £ Nil (2020: £NIL) was paid in the period in respect of fees and expenses.
## **15. Share Capital**
The Charity is incorporated under the Companies Act 1985 and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding one pound as may be required in the event of the company being wound up whilst he or she is still a member or within year thereafter.
## **16. Winding up or dissolution of the charity**
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
Page 14