Charity R•gistration No. 1149697 Company Registrdtion No. 08107118 (England and Wale81 RECREATE DORSET ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 AAK21MVB 2411W2021 OMPANIES HOUSE A28 ¥23
RECREATE DORSET LEGAL AND ADMINISTRATIVE INFORPaATION Trustee8 Angela Pwley Caron Khan Jane Kel Pamekq DonnelLan James Crawford Chris Thcrtnas (Appointed 1 June 20201 Charity number 114%97 Company numb•r 08107118 Registered offke Okl School House Gladstone Mews Boscombe Bournemouth BH7 SBG Independent Examiner Rowland5 IAÈbster Lwnited Austs"n House 43 Pcok Roal Bournemouth Cr*rsel England BH4 9DN
RECREATE DORSET CONTENTS Page Chaimian's slalement Trustees. rewrt Incjependent examinerfs reFQrt ststement of financial actNibes Balance sheet Notes to the financK41 ststements 9-14
RECREATE DORSET CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 The 20221 yeai has tsen a chaInging year for the Charity. and the impact of the pandemic has meant the oreRlions of the Trust were severety affected. D to the Govemmenl guKlelines resuming from COWD-19. the main oFeralional base. The Old SC101 House mained ck)sed for most of the year. Our ¢cxmmunity and creative hub acb'vity ceased from April 2021 whteh resulted rn the dosure of Ihe ctsworf(ing Spa and the postwnemenl of all workshops arhj hires in our main Assembty Hall. The Workij space reopened for a short period from Juty 2020 bul with second kKkdown. rt cbsed agarn frcn October 2020 and remained closed until the end ol the financial year. This affected the income generation and income target plans for the yeaf. This was disappointing folkjwing the relit and rekunch of the buikling in December 2020, bul the Trust was able'to apply for several grants from 8CP Council whKh helped wth the cash fiow during thss diff1¢ year. Unfortunately, the post of AdminislratNe Asststant was made redundant from October 2020. The Marf(eting and Oevel¢Jpment Coordinator was also pLaced on furtough for Ihe period from May 2020 until the end of the financk?I year. The Devekjpment Director continued in her freelance capacty th(oLhOut this perKJd, working from home. In March 2021 the Trustees agreed to rewew the freelae contract foi the Development Director and the outcome resulted in the posit)n becoming PAYE from 1 April 2021 based on a tsMday week employment. Simon Rowe ¢onlinued to provide freekqrhce support for the preparation of managemenl accounts and ongoing financial management The revision of the business plan was pL8eed on hokl during the pandemic. wrth a revtsed short-temi plan impkmenled based on the likety stsndsbll growlh for the organisatKJn and pessimistic outturn from no Income from the co-working space and hires of the Assembty Rcom for the financwl year 20221. The completion of the projects funded from the Legacy Fund had teen Sned off in the prevN)us financial year. However, projects were still outstanding and final reports are sts"Il lo be Submitted for the final payment linked to YTKO, (see further infonnalion in the projects section bebw) and the update on the delNery of the proposed new sports pavilKJn for the Ferndown Football Organisan. The pavil has yet lo be built and the Tnjsl will monitor the progress to cixnpkte Ihe final reporbng for the Legacy furxl. The Trust agreed to continue to concentrate its activitEs on SUFPOrting two of the key aims sel out in the Memorandum and Artic.. 1) The creab.on of training and employment opwrtunrties by the provision of wortspace, buildirgs, andlor land for use on faVOurab terms.. and 2} to develop the capacity and skills of the members of the Social and economically disadvantsged community of Bournemouth and surrounding aa in such a way that they are ktter able to identfy, and help meet. their rd5 and to partipate more fully in sLKiety. Isee further report below). The Trust conts.nues to have a strong presence in Boscombe, where the -0ther al ¢cnMUnIty Spa the 11 shared ownership propert$ are located. The Twsl has ongoing resp)nsibility in managing its properties in Gladstone Mews. The property No 5 was put on the market duriru this year and de5Plte the lockdown the property was sold although the clvnplelion date was not unlil June 2021. BCP Council continue lo oversee the management of the Mews and manage Ihe rent payments. annual meetsng of the residents and seFV agreements and seNKe payments. Chaimian Date." 29 Novemtei 2021
RECREATE DORSET TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2021 The trustees present their report and financ1 statements for the year erded 31 March 2021. The direclots of the harity are its trustees for the purwse of charity kw. The financial slalemenls have been pPared in accordance wilh the accounting pOIleS sel out in note 1 to the financial statements and compty with the charity's Iwveming documenll. the Companies Act 20C6 and "Accounting and Reporting by CharitEs.' Slalement of Reccfnmended Practi appl¢cable to Gharilies preparing their accounts in accordance with the Financial ReFQrting Standard applble in the UK and Republ of Ireland {FRS 1021" leffeclNe 1 January 2019}- Objectives and activiti•s The charity's objects are". 1. The promoti)n for the benefit of the public of urt)an or rural regeneration in areas of Sla1 and ecorK)m deprivatn and in partKular in Boumemouth & surrounding areas by all or any of the following means. {al The creation of training and empbymenl oFWrtUnit by the provisKJn of wolkspa, buildings, andlor land for use on faVOurab lems" {bl The provision of housing for those who are in r£*ndilions of need and the improvement of housing in the publ sector or in charitable ¢)wnership provKled that such wjwer shall not extend b relv&ving any k)cal authorrties or other bodies of a statutory duty to pro¥Kle or improve housing". Icl The prot8cIK)n or conseryation of the environment and the prudent use of resources.. 2. To devebp the capacty and Skil of the members of the socralty and economulty di5advantageJ community of Boumemouth and surrounding area in such a way that thty are better able lo e1rfy, and help meet, their needs and to partipate more fully in Klety. 3. Such Chantab purposes for the publi benefil as a exclusNety charrtable accordiNJ to the laws of England and WaS as the trustees may from time to lsme deterrni. The Trust continues to work towards rt5 overall viston to see °a 5LLStainable BourrEmouth which ha5 thriving. inclusive communities in whh all groups have a volts-. The Tnjsl is mmItted lo make a lasting anil Worttrwihi rtIenCe to Ihe overall qualty of lrfe in Bournemouth. It will conh'nue to achieve this through partnefship working and by generating or raising funds to invest in projects which benefit most vulnerable and deprived and those not acheving their full potential_ Public benofit The Business Pjan is regujarly revrewed the board receNed updates on key activitS al each Trustee meeb'ng from the Director, with an annual summary of pro3$$ at the end of the year. The priorityes and objectives of the Trust are alvJned with the charrtable objects of the organi%ation within the plan lo ensure that all resources a appropriately used. All new and existsn9 pro1ts are evaluated against the Trust's priorities, chantable objects described above. The Trustees have complied with their duty in seCtn 1715) of the charit Acl 2011. having due regard to public benefit guida1 pubtished by the Charity CcrfMliSWn.
RECREATE DORSET TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Achiov•ments and p•rfornian¢• Tho Old School Houso, 8oscombe Work has eontinued on the deVeknprnenI of our cnmmunty hub space. The Old School House in Boscombe. Following the review and update of the brand identity of Recreate Dorset IrepLacing Bournemouth 2026 Trust) The Okl School House was rekunched with a new website toshspaee.eo.uk and an internal refU1$hment in 08mber 2019. However due to the pandemic the matheling plan to relaunch Ihe space went on hold Ihroughoul 2020. )ilst the hi of the ¢¢>wOlng spaces couky not progress as plan. the introduction of Ihe new Stsrt-up Business Support pilot seheme was able lo go ahead as an onlir¢e programme. The scheme tsffed places to 12 local start-ups providing a monlhty business support VKrkshop and a weekty online meet up space where the 51art-ups were able to share their eas. discuss their chaIrJeS and connect on new OpportuniS. The 5UPPDrt between the individual businesses was particularty successful during the lockdown period and gave them the opportunty lo develop a supportNe grDUP to help progress their business Kleas and link together to develop Joint projects. The course ran from January 2021 and the evalualion report due for Juty 2021 will provide useful feedback on h¢)w the course or further course5 and wothshops can te deveknped as part of our growing support for creatwe busi$Se$ in the area. Work on the improvements to the healing system at The Old School House was continued during the Icckdown period and the Trust was successfLtI in its bKI for suN)ort from the Bos¢oml Town5 Fund Bid. In February 2021, B05combe was one of the UK towns awarded furhjing through the Govemrnenfs Towns Fund inilialive. A budget of £22 million was awarded lo match fund a programme of regeneralKJn lo Boscombe's town centre, which includes new housing, deveIprnent of the high street. irnprovemenls to the transport infrastructure and a culture and events programrne. The Old School House has match support lo impkment the improvemen15 to the heating and insulation of the building. The proposal is to impmve tt energy eff¢iency of the buikling and increase the use of renewable energy. The Twsl are c1J nlly waiting the decision of the plannirg application lo be able to progress the work and raise the match funding to SUFSX)rt the Towns Fund bhd's contribution with the intents)n to instal heab.ng and insulation before winter 2022. Folk)wing on from the review of the Trust's forward plan whth entsfied Ihe future potential for the development of the community space at TOSH. go¢>J progress has been mle. despite the diffi¢ultEs caused by the pandemic. New partnerships have been develcped for cuffenl aThJ fulure propcts ah)ngside our ongoing regular bookin9s from communty groups and kKal bu*nesses. Fundir¥J from the Pecple's Health Trust was avrdrded in August 2020 to suprt)rt a new, tsvo year project, working with the Dorset Polish Centre. The project 'YourBJ at Heart, provides a programme of acttvities. workshops and events for the Polish eklerty community. This inclLKles English Lgngua9e classes, information sessions. yoga and exwcise classes, visits to cultural events. craft aTrJ art wothshops and dropin coffee mornings and family events. In partnership with BEAF (Bournemoulh Emerging Arts Fringe) a $Cessful bid was made to Lollery Community Fund in Dernber 2020 and the partnership was offered £175,130 for a fNe year programme to 5UPPOrt The Outsiders Project. The Outser5 Project pro¥e$ a much-needed program of ¢alIve activrtes in Boscombe which supports people managing complex health tssues and struggling with their mental health. are in e0Very and from Vulnerab c¢)mmunits. A part-lime Community Cwrdinalor post has been funded as part of the five year programme which provides a bng term tsvebwental role lo expaThJ our community programmes.
RECREATE DORSET TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Legacy Fund Projects YrKO Although the Legacy Fund expenditure is rTh cOMpte. there a two outstsnding projects which still S in the final stages and the Trust is awailiro final fftports to ck)se the Fund. YTKO Wh is the nalKnal organisatn delr¥ering the Outset aTrJ Get Set for Growth programmes in Bournemouth. and was supported by the Legacy fund through to 2020. The Outset programme engages and supports disadvafttaged and under-repSen1ed enterprL%e groups and those in deprived areas, lo set up Sustainab enterprtse5. Outset i Get Sel for Growth dient group5 include women, kjne parents, BAME, young people and the over 50,$. b)ng-te unemployed and recenty Tedundant. ar¥J peopbe wrth mental and physic81 di5abililies. YTKO were fortunale lo extend their EU fvnded contract to continue the operations into 2020121 year. The Trust remains a partner to the organisatn and ft)Il¢)wing a further extensKJn to theii EU funding until June 2022, the Trust is working With them to deliver the Start-up Bu$irss Trainirvj prcgranme and i1¥1dal support for small bu51nesses. Forndown Sports Pavilion The final project is the cornptn of the buikl of a sports pavilion at Ferndown sports ground. Ongoing delays and the pandemic put this proje¢l on hold Ihroughout 2020. The Trust committed funds in 2020 and have been in regular contact with the project Manager wrth a projected CLYnpt¥n date planned for May 2022. Financial r•vl•w The Trust banks with Chanties Aid FOundatn ICAF) Bank. The TrL1 has an onl1r accountaney facility enabling prompt transactions and reaklime management. Appropriate security eontroLs are in pL4ee to limbt the polentsal for fraud and ensure that separate indNiduals sNJn off transactions. The Trust continues to be regarded as a trusted organisation with good governare arrangernents and suitable structures to manage donatp)ns and other resources in order to iMpVe the lives of people in Boumemouth. Rowlands Webster were appointed as the Independent Examiner in 2019. The TfUStee5 ad¢)pted the following as their reser¥es polry at their meeth.ng on 8th Juty 2013. The organisalion 11 maintain a level of reserves Sufflent lo meet the cpeRb"ng costs of the organi5ation for a period of 51X months, plus the costs of windirrtJ up. redundoY and legal expenses shoukj such a contingency arise. This will be alltxaled from the unrestrthd reseNes of the charity arKI will tre reviewed annually., This polry has rw)t been updated since and therefore remains the polry of the Trust. Risk Assessment The Charity has a comprehensNe risk register and all 'hpJh' potents.ally increasing risks are revEwed al board meetings, with a delailed annual rEview which takes place in January each year.
RECREATE DORSET TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Structure. governan¢e and management Bournemouth 2026 Trust is a charitable company Iwniled by guarantee and was irKorporaled and registered with the Charity Commission in 2012. The Articles of Associaln alk)w for a minimum of 6 arKI a maxwnum of 12 Trustees. Pam Donnellan stood down as Chair and was replaced by Trustee Chris Thomas. BCP Counol's appointee lo the Board continues lo be CourKillor Jane Kelty, preSents"n9 Boscombe $t ward. Counallor Kelly is a votirvj member ol the Trustee Board. The Trust undertakes an annual skills and dNersity audit, which indute5 whether or not recruitment of trustees is required to address particular skills or diversity gaps. The Trust Board is in prccess of klentrfying new Trustees to Increase ts diversity and lo extend the age range. The trustee5, who are aL80 the directors for the purpose of c¢>npany law. and who 5eryed dur+ng the yeaf and up to Ihe date of signature of the financial stslemenls were.. Angela Poo Caron Khan Jane Kel Pamela Donnellan James Crawford Chris Thomas (Appointed 1 June 2020) None of Ihe trustees has any beneficial interest in Ihe compary. All of the trustees are members of the company and guarantee to contribute £1 in the evenl of a winding up. The trust ' report was approved by the Board cl Trustees. Chris Thoma5 Trusto• 29 November 2021
RECREATE DORSET INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RECREATE DORSEr I rep)rt to the trustees on my eXinan ofthe financial statements of Re¢ate DOet (the charttyl for the year ended 31 March 2021_ Responsibilities and basis of report As the Iruslees of the charity land a150 rts directors for Ihe pu1$e5 of company lawl you are responsible fof the preparation of the finan¢k?I ststements in accordallce with the requirements of the Companies Act 2006 Ilhe 20C6 Act). Having satisfied myself that the financk31 statements of Ihe ¢hanty are not requiftd lo be audi under Part 16 of the 20C6 Act and are eligibk for 4rKJependent examination. I rewrt in respect of my examination of the ¢harity'$ financial statements carried out under seCtn 145 of the Charrts Act 2011 {Ihe 2017 Acl}. In carrying out my examinats'on I have folknwed all the apble DireetK>ns gNen by the Charty COMMSn under se¢lb)n 145(51 {b) of the 2011 Act. Independent examinevs statement I have completed my examinatK)n. I confim? that rro rnatte have come lo my attenb'on in connection with the examination giving me cause to belEve that in any rnaterial SpeCt accounting COrdS We not kept in respect of the charity as reqUId by seCtn 386 of the 2006 Act.. or the financk41 statements do not accord wrth those records.. or the financial ststements do rtot cc¥npty wrth the accounting iequirements of section of the 20C6 Act other than any requrrement that the accounts gNe a true a fair vrew which is 1 a matter con5rded as part of an independent examination. or the financial slalements have not been prepared in accordance with the methods and pnnciples of the Ststemenl of Recommended Practice for accountirvJ and repoth.ng by charities applicable to charilyes preparing Iheir accounts in accordance wrth the Finanaal RetortirKJ Standard applicable in the UK aryj Republic of Ireland {FRS 1021. I have no concems and have come across IK) other matters in connectK)n with the examinats.on lo which attention shoukl be drawn in this report in order lo enable a prcyer understanding of the financial ststenEnts to te reached. Rowlands Webster Limitsd CTA FMAAT ATT(Felk>w} Austin House 43 Poole Road Boumemoulh Dorset BH4 90N Engknd Dated." 29 November 2021
RECREATE DORSET STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted Restricted funds funds 2021 2021 Total Unr•8tricted Restricted funds funds 2020 2020 Total 2021 2020 Notes Ineo Donations and legacies Charitable activities Investments 54.625 14,216 60 54.625 34.136 60 19.920 36.107 2,224 17,273 53,380 2,224 Total income 68,901 19.920 88.821 38,331 17,273 55,604 Charitable activrties 88,984 10,633 99.617 90,779 56,408 147,187 Gross transfer5 beeen funds Net lexpenditureyincome for the yearl N•t movement in funds {33.371) 33.371 (20.0831 9.287 {10,796) {85,819) {5,764) {91,5831 Fund balances at 1 April 2020 155.013 716.899 871,912 240,832 722,663 963.495 FUNI thilances at 31 Mar¢h 2021 134.930 726.1 861.116 155,013 716,899 871,912 The statement of financ1 actNitss irtludes all gains and losses rtognised in the year. All income and expenditu derive frn ntInuIng actNiltes. The statement of financial activtties also complies wrth the requIents for an income aThY eypendilure account under the compan Act 20C6.
RECREATE DORSET BALANCE SHEET ASAT31 MARCH2021 2021 2020 Fixed assets Tangible assets Investsnenls 707.1 716,899 97,132 707.136 814,031 Curreftt as80ts Debtors Cash al bank and in harttj 10 10,364 194.805 7.030 58,542 205.169 65,572 Creditors: amounts falling due within on• yaar 11 (51.1891 17,6911 Nel current assets 1 $3,980 57.881 T¢>tal assots les$ currnnt liabiliti•s 861.116 871,912 In¢¢me funds Restricted funds Unreslricled funds 726.186 134.930 716,899 155.013 861,116 871.912 The company is entitled to the exemptKJn from the a31t requiremenl ntained in SeCtn 477 of the Companies Act 20C6. for the year ended 31 March 2021. directors ackn¢)wledge their responsibilit$ for comptying with the requirements of the Companies Act 2006 wilh respect to accounting records and the preparalA?n of financbal statements. The member5 have not required the ccmpany to obtain an audrt of its financk81 ststements for the ar in quest¢on in accordance with section 476. These financial ststements have been F)pared in a¢xordance with thè pffjvi5ions apltable to companies subject lo the small compani&s 9Me. The fina I statements were approved by the Tntstees on 29 November 2021 Chris Thomas Truytse Company RegIstraOn No. 08107118
RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Aecountlng poli¢l•s Charity infom)ation Recreate Oorsel is a prwale company limsted by guaranlee incorporaled in England and wa$. The registered office is Old SchLxJI House. Gladstone Mews. Boscombe. Bournemouth. Dorsel. BH7 6BG. 1.1 Ac¢oun14ng ¢onvontion The financial stslements have been prepared in aCrdance with the charity's Igoveming documenll, the Companies Act 20C6, FRS 102 "The Financial Repo"n9 Standard applicable in the UK and Republic ol Ireland I'FRS 102.} and the Charits SORP "Accounting and Reporting by Charities". Statement of Recornmended PraclKe app1leab to charittes preparing their accounts in accordance with the Financial Reporting Standard appIable in the UK and Republic of Ireland (FRS 102)- (effectNe 1 January 2019). The charity is a Publi¢ Benefit Entity as defined by FRS 102. The charity has taken ajvantage of the provtsions in the SORP for char41w r1 to prepare a Statement of Cash Flows. The financial ststements are prepa in steding. whth is the functional currenw of the charity. Monetary amounts in these finan81 statements are rounded to the nearest £. The financial stslements have been prepared uThJer the histortal cost convention, modrfEd to include the revaluatn of freehold prOPee$ and to include investsnent properties and certain financjal inslrLments at fair value. The principal accounting adopted are set out bekm. 1.2 Going concern At the time of approving the fin8nekg1 stalements, the trustees have a reasonable expectatn that the charity has adequate resources to conkn.nue in oFetstnal existence for the fOSeeable futu. Thus the trustees continue to adopt Ihe going con¢em basis of accounting in prepariro the fina501 statements. 1.3 Charltable funds Unrestricted funds are availabk lor use al discrelion of Ihe tru$tee$ in fvrtherance of their char¢tab objects'ves. Restricted funds are subject lo specffic corKlitn5 by ¢$)nO as to how they may be used. The pUSe8 and uses of the restrt'cted funds are set I1 in the note5 to the financ1 statements. Endowment fvrKls are S1¢1 to spe¢rf conditior by donors that the capitsl musl be maintained by the charity- 1A In¢om• Income is Tecognised whert Ihe charity is kgalty entitled to rt after ary perfomance condttions have been met. the amounts can be measured reliabty, and il is probabk that iwme will be reNed. Cash donatv)ns afe recognssed on relp1. Other donations are recognised orte the charity has been notifEd of the donalh)n, unkss performance condilrons requi deferral of the amount. Income tax recovetable in relan to donations receN&J under Grfl or dds of covenant is recognised at the tsme ol the donatton. Legacies are recognised on receipt or otheise if the charty has been notified ol an impending distribution, the amount is known. and receipt is expected. If the amount is not known, the legacy L% treated as 8 eonbngent asseL
RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting poli¢i•s {Contlnued) 1.5 Expenditure Expenses a included in the financwl statements as they become receivable or due. Expenses include VAT where applble as the company cannot recL4im it 1.6 Tangible fixed •88•ts Tangible fixed assets a inilolly measured at 01 and subsequenlty measured at cost or valuation. net of depreciation and any ImpalmnI losses. Depreciation 6 recognised so as to write off 51 or valuatDn of assets less their residual values over their useful Iwes rm the folbJwiNJ bases.. Freehold lan¢J and buihYir¥Js Plant and equikxnenl Computers 2% strawhl line basis 25%-33% straighl line basis 25% - 33% straighl line basis The gain or loss arisirvJ on the dwosal of an asset is detemiined as the drflerence t)etsveen the sale proceeds and the carrying value of the asse( and is recognised in the $tent of finan¢o1 activrties. 1.7 Fixed asset investments Fixed asset investments are initkilty ffeasured at transactKJn prte exduding transaction costs, and are sub5equentty measured at fair value al each Teporb"ng date. Changes in fair value are recognised in net incomellexperKJilure} for the year. Trnnsaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reportin9 end date. the charity re¥ws Ihe carrying amounts of its tangible assets to determine whether Ihere is any indl)n that those assets have suffered an impaimient loss. If any such indratKJn exists. the ¢0¥erable amount of the asset is esb"maled in order to deteTrnine the extent of the impaiment k)ss Irf any). 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits helj at call with banks, other short-terni liquid investrnents with oriyinal maturitss of three months or less. arKJ bank overdrafts. Bank overdrafts are shown within t¥)rrowings in current lbilits. 1.10 Financial instruments The charty has elected to appty the provon5 of Sectw)n 11 'Basic Financk41 Instruments. and SeclK)n 12 'Other Financial Instruments Issues, of FRS 102 lo all of its financial instruments. Financral instruments are recojnised in the charity's balarKe sheet when Ihe charity becomes paty to the contractual Provis)n$ of the instrument. Financial assets arKI liabilitss are offset. wth the nel amounts presented in the financral ststwnents, when there is a gaI enforceable nght lo sel off the recogntsed amounts and there rs an intention to settle on a net basis or lo realise the asset and setlle thelobility simultaneousty. 8a$ic financialas$ets Bas financial assets, whKh includ8 deblors armj cash aThJ bank balances, are initially measured al transaction price including Iransactson costs and are subsequently carried at amortised cost using Ihe effectNe interest method unsS the arrangement constitutes a financin9 transactKJn. where the Irar%actKJn is measured at the present value of the fvture weipts discounted al a market rate of interest. Financial assets classrfd as receNable wthin one year a r1 arr¥)rtised. 10-
RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies {Continued) Basic financial liabilities Basic financial liabilities, including credttors and bank k)ans are initolly recognised at transaction pri unless the arrangement con51ilules a financing IrdnsaclK)n. where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Fina1 liabilrties classified as payable wthin year a not amortised. Debt instrument5 a subsequentty cand at amrti5ed cos( Ljsing the effectwe interest rate method. Trade creditors are ob1vatnS to pay for gcods or services that have been aUired in the ordinary course of operations from suFplEts. Amounts payable are ckssrfd as curn1 liabilities if payment is due within one year or less. If not, they are presented as n-Current IkgbllrtS. TTrde creditors are recognised initially al transaction price and subsequentty measured at amortffjed $t usiThJ the effectNe interest method. Derecognitlon of financial Ilabllhles Financial liabilities are derecognised when the charity's contraclual oblvjations expire or are dTrs¢harged or cancelled. Critical a¢¢ounting ostimates and judgements In the application of the charity's accounting poIleS. the trustees a required lo mate IgeMents, ests'mates and assumptKins atoul the ¢arying amount of assets and liabilities that are not readily apparent Irom other sources. The estimates and aSSocled assumpts"on5 are based on h15torical experience and other facto that are consKlefed to be reVant. Actual resulis may drffer from Ihese estimates. The estsmates and undetying asSumptnS are revie4¥ed on an ongoing basis. Revisions to cOuntIng eslimales are recognised in the peri¢xI in whth Ihe estimate is Vised Whe the vISn affects only that period, or in the peri¢Jd of the revision and futu perdS where the vISn affects both current and future periods. Donations and lega¢i•s Unrestricted funds Tolal 2021 2020 Grants reGeNed artsj released 54.625 11
RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Charitable activitses Chari¢abl• Charitabl• Incom• Income 2021 2020 Sales within chantable activit*s 34,136 53,380 Analysis by fund unrestrted fund5 Restricled furKIs 14,216 19,920 36,107 17,273 34,136 53.380 Investments Unvestricted Unrestricted fund8 fund5 2021 2020 Interest Teeeived 60 2.224 Charitable actlvltl8S Charitable Charitsblg Expenditure Expenditure 2021 2020 Depreeiation Charitable experKlilu 9,763 89.854 10,296 136.891 99.617 147.187 99,617 147.187 Analysls by fund Unrestricted funds Restricted funds 88,984 10.633 90,779 56,408 99.617 147.187 12-
RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Trustoe8 None of the trustees lor any persons connected them) recewed any remuneralKJn or benefsts from the chority during the year_ Employees The average monthly number of employee5 durii¥J the year wa5: 2021 Number 2020 Numb•r Administrative stsff There were employees whose annual remunelI0n was more than £60.000. T*ngibl• fixed assets Fr•ehokl l•rrfl Plant Q>mputers and l>yildln9S equipm¢nt Totsl Cost Al 1 April 2020 768,968 6.225 4,339 779,532 At 31 March 2021 768.968 6,225 4,339 779,532 Deprecialion and impaimient At 1 April 2020 Depreciatson charged in the year 52.069 9,763 6,225 4.339 62.633 9,763 Al 31 March 2021 61.832 6,225 4,339 72,396 Carrying amount Al 31 March 2021 707.136 707, 136 At 31 March 2020 716.899 716.899 10 Debtors 2021 2020 Amounts falling due within on• year. Trade debtors Prepayments and a¢crued irwme 9.203 1,161 7.030 10,364 7.030 13-
RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 11 CrnditOf5: amounts falling due within one year 2021 2020 Notos Deferred income Trade credrtors Other creditors Accruals and deferred 12 41,688 6,041 33 3.427 7,691 51.189 7.691 12 Deferred ineome 2021 2020 Other defeffed inrne 41.688 13 Analysis of net assets t•etweeTh fvnds Unrestricted RestrKtsd funds funds 2021 2021 Total Unrestricted Restricted funds funds 2020 2020 Total 2021 2020 Fund balances al 31 March 2021 are represented by.. Tangible assets Investments CUnI a5selsl 707.136 707.136 716.899 716.899 97,132 97.132 153.980 153.980 57.881 57,881 861,116 861,116 155,013 716,899 871,912 14 Related party iransactions There were no disclosable related patty transactn$ durirvJ the year12020- none). 14-