COMPANY REGISTRATION NUMBER: 08233228 CHARITY REGISTRATION NUMBER: 1150712
Antz Junction
Company Limited by Guarantee
Unaudited Financial Statements
30 September 2020
STEVE ASTBURY LTD
Chartered accountants Within Body Matters Gym Hooley Bridge Mill Bamford Road Heywood OL10 4AG
Antz Junction
Company Limited by Guarantee
Financial Statements
Year Ended 30 September 2020
| Page | |
|---|---|
| Trustees' Annual Report (Incorporating the Director's Report) | 1 |
| Independent Examiner's Report to the Trustees | 3 |
| Statement of Financial Activities (Including Income and Expenditure | |
| Account) | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 7 |
Antz Junction
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year Ended 30 September 2020
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 September 2020.
Reference and administrative details
| Registered charity name | Antz Junction |
|---|---|
| Charity registration number | 1150712 |
| Company registration number | 08233228 |
| Principal office and registered | WeWork |
| office | No. 1 Spinningfields |
| Quay St | |
| Manchester | |
| M3 3JE | |
| The trustees | |
| D Pemberton | |
| N Geddes | |
| D Garner | |
| M Newman | |
| S Ahmed | |
| Independent Examiner | Steve Astbury ACA (Chartered Accountant) |
| Within Body Matters Gym | |
| Hooley Bridge Mill | |
| Bamford Road | |
| Heywood | |
| OL10 4AG |
Structure, governance and management
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Financial review
The trustees consider the financial position to be satisfactory.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
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Antz Junction
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 30 September 2020
The trustees' annual report was approved on 4 March 2021 and signed on behalf of the board of trustees by:
| D Pemberton | N Geddes |
|---|---|
| Trustee | Trustee |
| D Garner | M Newman |
| Trustee | Trustee |
| S Ahmed | |
| Trustee | Charity Secretary |
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Antz Junction
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Antz Junction
Year Ended 30 September 2020
I report to the trustees on my examination of the financial statements of Antz Junction ('the charity') for the year ended 30 September 2020.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the 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 the charity’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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the 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 financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Steve Astbury ACA (Chartered Accountant) Independent Examiner
Within Body Matters Gym Hooley Bridge Mill Bamford Road Heywood OL10 4AG
4 March 2021
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Antz Junction
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year Ended 30 September 2020
| Antz Junction Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year Ended 30 September 2020 |
||||
|---|---|---|---|---|
| 2020 | 2019 | |||
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | – | 184,824 | 34,698 |
| Charitable activities | 6 | – | 19,660 | 81,416 |
| -------------- | --------------------------------- | --------------------------------- | ||
| Total income | – | 204,484 | 116,114 | |
| ============== | ================================= | ================================= | ||
| Expenditure | ||||
| Expenditure on charitable activities | 7,8 | – | 167,769 | 118,294 |
| -------------- | --------------------------------- | --------------------------------- | ||
| Total expenditure | – | 167,769 | 118,294 | |
| ============== | ================================= | ================================= | ||
| -------------- | --------------------------------- | --------------------------------- | ||
| Net income/(expenditure) and net movement in funds | – | 36,715 | (2,180) | |
| ============== | ================================= | ================================= | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 947 | 947 | 3,127 | |
| -------------- | --------------------------------- | --------------------------------- | ||
| Total funds carried forward | 947 | 947 | 3,127 | |
| ============== | ================================= | ================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 13 form part of these financial statements.
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Antz Junction
Company Limited by Guarantee
Statement of Financial Position
30 September 2020
| 2020 | 2019 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed Assets | ||||
| Tangible fixed assets | 13 | 7,477 | 8,797 | |
| Current Assets | ||||
| Debtors | 14 | 10,709 | 16,973 | |
| Cash at bank and in hand | 112,969 | – | ||
| --------------------------------- | ---------------------------- | |||
| 123,678 | 16,973 | |||
| Creditors: amounts falling due within one year | 15 | 42,882 | 24,823 | |
| --------------------------------- | ---------------------------- | |||
| Net Current Assets | 80,796 | (7,850) | ||
| ---------------------------- | ------------------------ | |||
| Total Assets Less Current Liabilities | 88,273 | 947 | ||
| Creditors: amounts falling due after more than one | ||||
| year | 16 | 50,611 | – | |
| ---------------------------- | -------------- | |||
| Net Assets | 37,662 | 947 | ||
| ============================ | ============== | |||
| Funds of the Charity | ||||
| Unrestricted funds | 947 | 3,127 | ||
| -------------- | ------------------------ | |||
| Total charity funds | 18 | 947 ============== |
3,127 ======================== |
For the year ending 30 September 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page.
The notes on pages 7 to 13 form part of these financial statements.
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Antz Junction
Company Limited by Guarantee
Statement of Financial Position (continued)
30 September 2020
These financial statements were approved by the board of trustees and authorised for issue on 4 March 2021, and are signed on behalf of the board by:
D Pemberton N Geddes Trustee Trustee D Garner M Newman Trustee Trustee S Ahmed Trustee
The notes on pages 7 to 13 form part of these financial statements.
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Antz Junction
Company Limited by Guarantee
Notes to the Financial Statements
Year Ended 30 September 2020
1. General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 2 St Georges Road, Bolton, Lancashire, BL1 2DD.
2. Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going Concern
There are no material uncertainties about the charity's ability to continue.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Antz Junction
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 30 September 2020
3. Accounting Policies (continued)
Incoming Resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Antz Junction
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 30 September 2020
3. Accounting Policies (continued)
Tangible Assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Fixtures and fittings | - | 15% reducing balance |
|---|---|---|
| Computer Equipment | - | 15% reducing balance |
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial Instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
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Antz Junction
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 30 September 2020
3. Accounting Policies (continued)
Financial Instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by Guarantee
The company is limited by guarantee and not by shares.
5. Donations and Legacies
| Donations and Legacies | ||
|---|---|---|
| Total Funds | Total Funds | |
| 2020 | 2019 | |
| £ | £ | |
| Grants | ||
| Grants receivable | 162,885 | – |
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Antz Junction
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 30 September 2020
5. Donations and Legacies (continued)
| 5. | Donations and Legacies (continued) | |||
|---|---|---|---|---|
| Total Funds | Total Funds | |||
| 2020 | 2019 | |||
| £ | £ | |||
| Other Donations and Legacies | ||||
| Other donations and legacies type 1 | 21,939 | 34,698 | ||
| --------------------------------- | ---------------------------- | |||
| 184,824 | 34,698 | |||
| ================================= | ============================ | |||
| 6. | Charitable Activities | |||
| Total Funds | Total Funds | |||
| 2020 | 2019 | |||
| £ | £ | |||
| Ancillary trades | 19,660 | 81,416 | ||
| ============================ | ============================ | |||
| 7. | Expenditure on Charitable Activities by Fund Type | |||
| Total Funds | Total Funds | |||
| 2020 | 2019 | |||
| £ | £ | |||
| Activity type 1 | 167,769 | 118,294 | ||
| 8. | Expenditure on Charitable Activities by Activity Type | |||
| Activities | ||||
| undertaken | Total funds | Total fund | ||
| directly | 2020 | 2019 | ||
| £ | £ | £ | ||
| Activity type 1 | 167,769 | 167,769 | 118,294 | |
| ================================= | ================================= | ================================= | ||
| 9. | Net Income/(Expenditure) | |||
| Net income/(expenditure) is stated after charging/(crediting): | ||||
| 2020 | 2019 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 1,320 | 1,552 | ||
| ======================== | ======================== | |||
| 10. | Independent Examination Fees | |||
| 2020 | 2019 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 720 | 480 | ||
| ============== | ============== |
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Antz Junction
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 30 September 2020
11. Staff Costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 71,229 | 55,866 |
| Social security costs | – | 2,865 |
| Employer contributions to pension plans | 498 | 164 |
| Other employee benefits | (14,836) | – |
| ---------------------------- | ---------------------------- | |
| 56,891 | 58,895 | |
| ============================ | ============================ |
The average head count of employees during the year was 3 (2019: 6).
No employee received employee benefits of more than £60,000 during the year (2019: Nil).
12. Trustee Remuneration and Expenses
There were no trustees' remuneration or other benefits for the year ended 30 September 2019 or 30th September 2018.
13. Tangible Fixed Assets
| Tangible Fixed Assets | |||
|---|---|---|---|
| Fixtures and | |||
| fittings | Equipment | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 October 2019 and 30 September 2020 | 456 | 33,118 | 33,574 |
| ============== | ============================ | ============================ | |
| Depreciation | |||
| At 1 October 2019 | 363 | 24,414 | 24,777 |
| Charge for the year | 14 | 1,306 | 1,320 |
| -------------- | ---------------------------- | ---------------------------- | |
| At 30 September 2020 | 377 | 25,720 | 26,097 |
| ============== | ============================ | ============================ | |
| Carrying amount | |||
| At 30 September 2020 | 79 | 7,398 | 7,477 |
| ============== | ============================ | ============================ | |
| At 30 September 2019 | 93 | 8,704 | 8,797 |
| ============== | ============================ | ============================ | |
| Debtors | |||
| 2020 | 2019 | ||
| £ | £ | ||
| Trade debtors | 10,500 | 16,770 | |
| Prepayments and accrued income | 209 | 50 | |
| Other debtors | – | 153 | |
| ---------------------------- | ---------------------------- | ||
| 10,709 | 16,973 | ||
| ============================ | ============================ |
14. Debtors
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Antz Junction
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 30 September 2020
15. Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Bank loans and overdrafts | – | 7,830 |
| Trade creditors | 13,829 | 4,784 |
| Accruals and deferred income | 11,233 | 480 |
| Social security and other taxes | 16,989 | 11,729 |
| Other creditors | 831 | – |
| ---------------------------- | ---------------------------- | |
| 42,882 | 24,823 | |
| ============================ | ============================ | |
| Creditors: amounts falling due after more than one year | ||
| 2020 | 2019 | |
| £ | £ | |
| Other creditors | 50,611 ============================ |
– ============== |
16. Creditors: amounts falling due after more than one year
17. Pensions and Other Post Retirement Benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £498 (2019: £164).
18. Analysis of Charitable Funds
Unrestricted funds
| At | ||
|---|---|---|
| 1 | October 201 | |
| 9 and | ||
| 30 September | ||
| 2020 | ||
| £ | ||
| General funds | 947 | |
| ============== | ||
| At | ||
| 1 October 201 | ||
| 8 and | ||
| 30 September | ||
| 2019 | ||
| £ | ||
| General funds | 3,127 | |
| ======================== |
19. Related Parties
There are no related party transactions to be reported for the year ended 30th September 2019.
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