**REGISTERED COMPANY NUMBER: 08021841 (England and Wales) REGISTERED CHARITY NUMBER: 1151083**
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **FOR THE PRINCES RISBOROUGH CENTRE LIMITED**
Seymour Taylor Limited 57 London Road High Wycombe Buckinghamshire HP11 1BS
**THE PRINCES RISBOROUGH CENTRE LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Statement of Financial Position**||7||
|**Statement of Cash Flows**||8||
|**Notes to the Statement of Cash Flows**||9||
|**Notes to the Financial Statements**|10|to|18|
|**Detailed Statement of Financial Activities**|19|to|20|
**THE PRINCES RISBOROUGH CENTRE LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Princes Risborough Centre Limited, operating as The Princes Centre, is a social enterprise funded and run by the people of Princes Risborough and the surrounding areas for the benefit of everybody in the local community. Our charitable object is to relieve the needs of the elderly and people with physical difficulties, learning difficulties or mental health issues, and their families and carers, in particular but not exclusively by the provision of day care facilities. At the Centre we place great emphasis on dignity and integrity in dealing with all of our clients, taking a personal, client-centred approach in planning and organising the care provided.
The Princes Centre provides much needed respite for carers and an inspirational environment for frail elderly people, and those with disabilities, who are looking to make new friends and want to continue learning and living a fulfilling life. The Centre offers a range of engaging activities, outings and entertainment from arts and crafts classes to swimming, gardening, dancing or simply relaxing with friends over a game of dominoes or scrabble.
Alongside activities at the Centre, the emphasis is on being a visible part of the local community and as such some activities are held away from the Centre at appropriate locations, for example taking the book club to the library, or ice cream tasting at the farm that produces the ice cream. We offer specific skill enhancement courses such as independent living or travel training, and we provide active support for those people who require personal care or other assistance.
## **Significant activities**
- Once the Centres had returned to full operations following the easing of Covid restrictions the number of clients at both Bourne End and the LD clients at Princes Risborough expanded to full capacity. - Additionally, we opened Bourne End for a fifth day each week to accommodate increasing numbers and are now operating at maximum capacity.
- The building at Bourne End has been made more secure, more welcoming and now mirrors the Charity's branding as seen at Princes Risborough. Additionally, much of the furniture used by the clients has been updated and new garden furniture has been procured to match the much improved and well tended garden. - The building at Princes Risborough has benefitted from new curtains in the main hall and the installation of a large screen 'smart' TV
- Winner of the regional SME Community Business of the Year award, with entry into the national finals
- We continued to adapt to the situation of Covid, supporting clients and staff through this extraordinary time.
- Signed long term lease commitment to Bourne End following record growth in numbers.
- Continued investment in both sites.
- Undertaken extensive carbon audit to ensure we play our part in the journey to Net Zero.
- Continued nominations and awards for recognition of our care service.
## **Public benefit**
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
## **Volunteers**
The charity relies heavily on the Trustees who give up their time voluntarily, the dedicated staff and volunteers who run the day to day care of the clients, and the donors, both individual and corporate, from the surrounding community who offer tremendous support to the Centre and all of its work. The loss of one Trustee last year gave us the opportunity to evaluate the mix of skills and experience of our Trustees to ensure that the Board would be better equipped to meet the demands of an expanding organisation.
1
**THE PRINCES RISBOROUGH CENTRE LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **STRATEGIC REPORT**
## **Financial position**
As a social enterprise, the Charity aims to ensure that our income will provide adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future. The Centre's charitable object focuses on the provision of day care facilities, and the reserves must be maintained at a level sufficient to sustain that object in the event of any reduction in trading income. That income is almost entirely generated from client fees, and is susceptible to a number of external factors such as government and local authority policies on the funding of social care, the frailty and age of the client base, and changes in accreditation requirements.
At 31 March 2022 total funds held by the charity were £1,414,412 (2021: £1,274,661) of which £331,819 (2021: £388,335) were restricted funds.
## **Reserves policy**
The Trustees' intention is to maintain the charity's reserves at a level at least equivalent to six months operational expenditure having regard to the above factors. This allows sufficient time for the Centre either to explore and introduce alternative funding streams or, in extremis, to make satisfactory alternative arrangements for the continuing care of its clients. As stated earlier, the Trustees agreed to use some of the reserve funds to top up the salaries of those placed on furlough to the full 100% levels.
The Trustees review the level of reserves on a quarterly basis to ensure that the fund is being maintained at least in accordance with the policy. This policy is reviewed each year, and appropriate levels of reserves established, following completion of the annual accounts. It has now been agreed that that Charity needs to build up its capital reserves to enable it to plan for significant future expenditure on capital projects, such as major building works and improvements to the transport fleet, with a particular view to evolving into a carbon neutral business These resources are being built up through a combination of fundraising, donations, grants and trading surplus funds as can be seen in the financial statements.
## **Future plans**
- Celebrations of ten years as Buckinghamshire's first CIC
- Review charges and disbursements to cope with the "cost of living" pressures
- Installation of solar panels on the roof of the Princes Risborough building
- Improve loft insulation at both centres
- Plan for reconfiguring space currently occupied by Princes Risborough Town Council
- Review and possibly expand transport fleet
- Review Articles of Association to ensure that they are still fit for purpose
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
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.
The charity is controlled by its governing documents, a Memorandum and Articles of Association and a deed of trust, and constitutes a charitable company, limited by guarantee, as defined by the Companies Act 2006. The liability of trustees in the event of the charity being wound up is limited to £10 each.
Trustees are responsible for the policy setting and strategic direction of the charity and the staff are responsible for the day to day management of the charity. In addition to a "Trustee member" the charity has a second category of member, the "Ordinary member" who are invited to become members by the Board of Trustees and whose names are listed in a register held in the charity's offices.
Trustees who served during the year were as listed below of which there are eight at the period end following the recent death of one Trustee. The appointment of a successor will be dependent, inter alia, on the outcome of the future planning work. The Trustees are responsible for proposing and seconding suitable candidates to be considered by ballot for appointment as a trustee.
2
**THE PRINCES RISBOROUGH CENTRE LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Induction and training of new trustees**
All trustees are given a detailed introduction to the Company by the Centre Manager before their names are put forward to the Board for possible appointment as a Trustee. Following such appointment, they are offered a tailor-made training programme, based on their Trustee role and their previous experience, with ongoing mentoring being provided as required by experienced Trustees. The initial training is provided by an external agency, currently Community Impact Bucks.
## **Key management remuneration**
The Trustees agree on the level of annual pay increase, based broadly on the overall performance of the charitable company, and by comparison where possible with similar organisations within the social care sector. The Trustees are developing new KPIs for the Centre Manager, on which future remuneration will be based, that will flow from the plan to expand client sessions in a controlled and sustainable way over the next five years.
## **Related parties**
The Company's five year plan allows for closer integration with the local branches of relevant charities, as well as the primary health and social care organisations, to ensure the earliest possible identification of those most in need of the services that the Company can provide.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
08021841 (England and Wales)
## **Registered Charity number**
1151083
## **Registered office**
The Princes Centre Clifford Road Princes Risborough Buckinghamshire HP27 0DP
## **Trustees**
P J Cline A P Masterton-Smith T J Scrivener A H Turner M Walsh D G Williams M A Wooster Keyte R Stevenson D Whittaker (appointed 30.5.2022)
## **Independent Examiner**
Seymour Taylor Limited 57 London Road High Wycombe Buckinghamshire HP11 1BS
3
**THE PRINCES RISBOROUGH CENTRE LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Bankers**
Lloyds Bank PLC 25 Gresham Street London EC2V 7HN
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 13 December 2022 and signed on the board's behalf by:
M Walsh - Trustee
4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PRINCES RISBOROUGH CENTRE LIMITED**
## **Independent examiner's report to the trustees of The Princes Risborough Centre Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity's 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 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**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants England and Wales which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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 (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.
Elizabeth Horton ACA FCCA Institute of Chartered Accountants England and Wales Seymour Taylor Limited 57 London Road High Wycombe Buckinghamshire HP11 1BS
13 December 2022
5
## **THE PRINCES RISBOROUGH CENTRE LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**Charitable activities**
Day care
Investment income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
6
Day care
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
15
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
72,575
564,894
-
637,469
492,080
145,389
50,211
195,600
886,993
1,082,593|Restricted
funds
£
22,353
-
-
22,353
28,658
(6,305)
(50,211)
(56,516)
388,335
331,819|31.3.22
Total
funds
£
94,928
564,894
-
659,822
520,738
139,084
-
139,084
1,275,328
1,414,412|31.3.21
Total
funds
£
240,522
323,915
70|
|---|---|---|---|---|
|||||564,507|
|||||421,552|
|||||142,955
-|
|||||142,955
1,132,373|
|||||1,275,328|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
6
## **THE PRINCES RISBOROUGH CENTRE LIMITED**
## **STATEMENT OF FINANCIAL POSITION 31 MARCH 2022**
|Notes
**FIXED ASSETS**
Tangible assets
11
**CURRENT ASSETS**
Debtors
12
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
15
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
421,623
70,972
628,938
699,910
(38,940)
660,970
1,082,593
1,082,593|Restricted
funds
£
281,581
10,650
39,588
50,238
-
50,238
331,819
331,819|31.3.22
Total
funds
£
703,204
81,622
668,526
750,148
(38,940)
711,208
1,414,412
1,414,412
1,082,593
331,819
1,414,412|31.3.21
Total
funds
£
728,917
21,347
548,318
569,665
(23,254)
546,411
1,275,328
1,275,328
886,993
388,335
1,275,328|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 13 December 2022 and were signed on its behalf by:
M Walsh - Trustee
The notes form part of these financial statements
7
## **THE PRINCES RISBOROUGH CENTRE LIMITED**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|31.3.22
£
152,236
152,236
(32,028)
-
-
(32,028)
120,208
548,318
668,526|31.3.21
£
210,205
210,205
(37,219)
4,000
70
(33,149)
177,056
371,262
548,318|
|---|---|---|
The notes form part of these financial statements
8
**THE PRINCES RISBOROUGH CENTRE LIMITED**
**NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|
|||31.3.22|31.3.21|
|||£|£|
||**Net income for the reporting period (as per the Statement of**|||
||**Financial Activities)**|139,084|142,955|
||**Adjustments for:**|||
||Depreciation charges|57,741|33,585|
||Loss on disposal of fixed assets|-|398|
||Interest received|-|(70)|
||(Increase)/decrease in debtors|(60,275)|33,559|
||Increase/(decrease) in creditors|15,686|(222)|
||**Net cash provided by operations**|152,236|210,205|
|2.|**ANALYSIS OF CHANGES IN NET FUNDS**|||
||At 1.4.21|Cash flow|At 31.3.22|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|548,318|120,208|668,526|
||548,318|120,208|668,526|
|**Total**|548,318|120,208|668,526|
The notes form part of these financial statements
9
**THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. GENERAL INFORMATION**
The Princes Risborough Centre Limited is a charity limited by guarantee and incorporated in England and Wales. The address of the company's registered office is The Princes Centre, Clifford Road, Princes Risborough, Buckinghamshire, HP27 0DP. The registered charity number is 1151083.
The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.
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.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
In light of the rapid global spread of the Coronavirus "COVID-19" since early 2020, the trustees have reviewed budgets for the next twelve months and the level of reserves held by the charity. Following this review, the trustees consider there to be little impact on the Charities ability to act as a going concern.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Allocation and apportionment of costs**
Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Salaries have been apportioned in accordance with the duties to which they relate.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Freehold property|- straight line - 2%|
|---|---|
|Fixtures and fittings|- straight line - 2%, 15% or over the lease term|
|Motor vehicles|- straight line - 15%|
|Computer equipment|- straight line - 25%|
10
**THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **2. ACCOUNTING POLICIES - continued**
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Financial instruments**
The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 to its financial statements.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
## **Lease commitments**
Rentals payable and receivable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.
## **Government grants**
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them.
## **3. DONATIONS AND LEGACIES**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
|Donations
Gift aid
Grants|31.3.22
£
43,387
6,680
44,861
94,928|31.3.21
£
60,541
8,502
171,479|
|||240,522|
11
**THE PRINCES RISBOROUGH CENTRE LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **3. DONATIONS AND LEGACIES - continued**
## **Grants**
Grants received, included in the above are as follows:
||
Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|
||£|£|£|£|
|MWK|100|-|100|-|
|Groundwork UK|-|-|-|500|
|Wycombe District Council|-|-|-|125|
|Co-Op|-|-|-|2,103|
|PRTC|125|-|125|1,500|
|Red Kite Housing|-|-|-|7,000|
|Heart of Bucks|-|-|-|9,720|
|Bucks CC|20,000|14,340|34,340|39,682|
|Coronavirus Job Retention Scheme|10,296|-|10,295|110,849|
||||||
||||||
||30,521|14,340|44,861|171,479|
||||||
## **4. INVESTMENT INCOME**
|Deposit account interest
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Lunches
Day care
Client fees
Day care
Rent
Day care
Contribution towards
transport costs
Day care|31.3.22
£
-
31.3.22
£
20,635
488,775
15,604
39,880
564,894|31.3.21
£
70
31.3.21
£
4,798
275,928
13,756
29,433|
|---|---|---|
|||323,915|
## **5. INCOME FROM CHARITABLE ACTIVITIES**
## **6. CHARITABLE ACTIVITIES COSTS**
|||Support||
|---|---|---|---|
||Direct|costs (see||
||Costs|note 7)|Totals|
||£|£|£|
|Day care|435,385|85,353|520,738|
12
**THE PRINCES RISBOROUGH CENTRE LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
|**7.**
**SUPPORT COSTS**
Day care
Support costs, included in the above, are as follows:
**Other**
Utilities
Insurance
Telephone
Sundries
Administration
I.T.
Waste
Cleaning materials
Advertising
**Governance costs**
Independent examination
Legal and professional
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Deficit on disposal of fixed assets|Governance
Other
costs
£
£
69,638
15,715
31.3.22
Day care
£
24,703
7,845
3,212
2,444
6,985
4,283
2,689
4,385
13,092
69,638
31.3.22
Day care
£
6,915
8,800
15,715
31.3.22
£
57,741
-|Totals
£
85,353
31.3.21
Total
activities
£
10,573
9,939
3,381
100
3,670
3,230
2,929
6,542
1,565
41,929
31.3.21
Total
activities
£
6,620
-
6,620
31.3.21
£
33,585
398|
|---|---|---|
13
**THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees' expenses**
No trustees were reimbursed in respect of travel expenses (2021 - 1 trustee reimbursed an aggregate of £25).
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|31.3.22
£
306,916
8,838
3,642
319,396|31.3.21
£
254,912
6,443
3,126|
|---|---|---|
|||264,481|
The average monthly number of employees during the year was as follows:
|31.3.22|31.3.21|
|---|---|
|31|26|
No employees received emoluments in excess of £60,000.
## **11. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2021
Additions
At 31 March 2022
**DEPRECIATION**
At 1 April 2021
Charge for year
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021|Freehold
property
£
439,803
-
439,803
37,792
8,796
46,588
393,215
402,011|Fixtures
and
fittings
£
282,752
31,572
314,324
21,491
29,702
51,193
263,131
261,261|Motor
vehicles
£
123,621
-
123,621
59,460
18,543
78,003
45,618
64,161|Computer
equipment
£
3,231
456
3,687
1,747
700
2,447
1,240
1,484|Totals
£
849,407
32,028|
|---|---|---|---|---|---|
||||||881,435|
||||||120,490
57,741|
||||||178,231|
||||||703,204|
||||||728,917|
14
**THE PRINCES RISBOROUGH CENTRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Other debtors
VAT
Prepayments and accrued income
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income|31.3.22
£
59,970
18,252
532
2,868
81,622
31.3.22
£
24,350
2,524
-
694
11,372
38,940|31.3.21
£
16,617
2,700
-
2,030|
|---|---|---|
|||21,347|
|||31.3.21
£
11,092
-
184
595
11,383|
|||23,254|
## **14. LEASING AGREEMENTS**
Total financial commitments, guarantees and contingencies not included in the statement of financial position amount to £2,779 (2021 - £4,060), which relates to operating lease commitments.
## **15. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Designated fixed assets
Designated minibus fund
Designated fund legacy
**Restricted funds**
Restricted fixed assets
Bourne End kitchen refurb
Upper hall refurbishment
Minibus fund
Shed fund
Covid
Pottery class fund
Bowls
Solar panels
**TOTAL FUNDS**|At 1.4.21
£
613,477
173,714
52,600
47,202
886,993
268,550
6,519
54,254
8,541
960
42,511
7,000
-
-
388,335
1,275,328|Net
movement
in funds
£
161,129
(4,040)
(11,700)
-
145,389
(6,813)
(539)
(2,211)
-
(410)
(10,592)
2,012
1,598
10,650
(6,305)
139,084|Transfers
between
funds
£
(207,361)
251,951
(40,900)
46,521
50,211
19,844
(5,980)
(52,043)
-
(550)
(11,482)
-
-
-
(50,211)
-|At
31.3.22
£
567,245
421,625
-
93,723|
|---|---|---|---|---|
|||||1,082,593
281,581
-
-
8,541
-
20,437
9,012
1,598
10,650|
|||||331,819|
|||||1,414,412|
15
**THE PRINCES RISBOROUGH CENTRE LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **15. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated fixed assets
Designated minibus fund
**Restricted funds**
Restricted fixed assets
Bourne End kitchen refurb
Upper hall refurbishment
Shed fund
Covid
Pottery class fund
Bowls
Solar panels
**TOTAL FUNDS**|Incoming
resources
£
637,469
-
-
637,469
-
3,690
-
-
-
5,250
2,763
10,650
22,353
659,822|Resources
Movement
expended
in funds
£
£
(476,340)
161,129
(4,040)
(4,040)
(11,700)
(11,700)
(492,080)
145,389
(6,813)
(6,813)
(4,229)
(539)
(2,211)
(2,211)
(410)
(410)
(10,592)
(10,592)
(3,238)
2,012
(1,165)
1,598
-
10,650
(28,658)
(6,305)
(520,738)
139,084|
|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Designated fixed assets
Designated minibus fund
Designated fund legacy
**Restricted funds**
Restricted fixed assets
Bourne End kitchen refurb
Upper hall refurbishment
Minibus fund
Shed fund
Covid
Pottery class fund
**TOTAL FUNDS**|At 1.4.20
£
500,745
177,754
64,300
94,403
837,202
274,145
4,898
6,607
8,541
980
-
-
295,171
1,132,373|Net
movement
in funds
£
112,988
(4,040)
(11,700)
-
97,248
(5,595)
1,365
446
-
(20)
42,511
7,000
45,707
142,955|Transfers
between
funds
£
(256)
-
-
(47,201)
(47,457)
-
256
47,201
-
-
-
-
47,457
-|At
31.3.21
£
613,477
173,714
52,600
47,202|
|---|---|---|---|---|
|||||886,993
268,550
6,519
54,254
8,541
960
42,511
7,000|
|||||388,335|
|||||1,275,328|
16
**THE PRINCES RISBOROUGH CENTRE LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **15. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated fixed assets
Designated minibus fund
**Restricted funds**
Restricted fixed assets
Bourne End kitchen refurb
Upper hall refurbishment
Shed fund
Covid
Pottery class fund
**TOTAL FUNDS**
Designated Funds|Incoming
resources
£
500,751
-
-
500,751
-
1,500
3,603
-
51,653
7,000
63,756
564,507|Resources
Movement
expended
in funds
£
£
(387,763)
112,988
(4,040)
(4,040)
(11,700)
(11,700)
(403,503)
97,248
(5,595)
(5,595)
(135)
1,365
(3,157)
446
(20)
(20)
(9,142)
42,511
-
7,000
(18,049)
45,707
(421,552)
142,955|
|---|---|---|
Designated fixed assets (previously Property fund) was the cost of the building and mini bus that the charity performs its charitable activities in and is now being depreciated each year.
Minibus fund was income designated to purchase new minibuses for the Princes Centre and Bourne End to transport clients. The minibuses purchased are now being depreciated each year. This has been transferred to the 'Designated fixed assets' funds in the 2022 financial year.
Legacy fund has been set up for the legacy received during 2018 and 2019 to be used by the trustees to fulfill the charities objectives. The trustees have designated this fund for the refurbishment of the upper floor.
## Restricted Funds
Restricted fixed asset fund (previously Refurbishment project), includes all fixed assets which have been purchased using restricted funds as is being depreciated each year.
Restricted income was received to refurbish Bourne End kitchen for the benefit of our clients for the long term. The assets were transferred to the 'Restricted fixed asset' fund in the 2022 financial year.
Upper hall refurbishment project fund is to be used in transforming the upper hall area in order to create more space in a reconfigured and refurbished layout for the benefit of our clients. The assets were transferred to the 'Restricted fixed asset' fund in the 2022 financial year.
Restricted income was received to purchase a minibus for the Princes Centre and Bourne End to transport clients.
A new shed to store gardening equipment was purchased using restricted income and was transferred to the 'Restricted fixed asset' fund in the 2022 financial year.
17
**THE PRINCES RISBOROUGH CENTRE LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **15. MOVEMENT IN FUNDS - continued**
Restricted income was received to allow the centre to open under COVID 19 restrictions. The assets were transferred to the 'Restricted fixed asset' fund in the 2022 financial year.
Restricted income was received for a pottery class which has been deferred until next year due to COVID 19.
Restricted income was received for bowls activities which was started in the current financial year.
Restricted income was received to allow the charity to purchase solar panels.
## **16. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2022.
18
**THE PRINCES RISBOROUGH CENTRE LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Grants
**Investment income**
Deposit account interest
**Charitable activities**
Lunches
Client fees
Rent
Contribution towards transport costs
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Kitchen
Activities
Bad debts
Vehicle running costs
Repairs and maintenance
Depreciation of freehold property
Depreciation of computer equipment
Depreciation of fixtures and fittings
Depreciation of motor vehicles
Loss on sale of tangible fixed assets
**Support costs**
**Other**
Utilities
Insurance
Telephone
Carried forward|31.3.22
£
43,387
6,680
44,861
94,928
-
20,635
488,775
15,604
39,880
564,894
659,822
306,916
8,838
3,642
14,269
14,958
-
16,555
12,466
8,796
700
29,702
18,543
-
435,385
24,703
7,845
3,212
35,760|31.3.21
£
60,541
8,502
171,479|
|---|---|---|
|||240,522
70
4,798
275,928
13,756
29,433|
|||323,915|
|||564,507
254,912
6,443
3,126
4,728
43,479
503
5,589
20,240
8,796
586
5,660
18,543
398|
|||373,003
10,573
9,939
3,381
23,893|
This page does not form part of the statutory financial statements
19
**THE PRINCES RISBOROUGH CENTRE LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|**Other**
Brought forward
Sundries
Administration
I.T.
Waste
Cleaning materials
Advertising
**Governance costs**
Independent examination
Legal and professional
Total resources expended
**Net income**|31.3.22
£
35,760
2,444
6,985
4,283
2,689
4,385
13,092
69,638
6,915
8,800
15,715
520,738
139,084|31.3.21
£
23,893
100
3,670
3,230
2,929
6,542
1,565|
|---|---|---|
|||41,929
6,620
-|
|||6,620|
|||421,552|
|||142,955|
This page does not form part of the statutory financial statements
20