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2023-03-31-accounts

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 2023

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 2023

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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 19
Detailed Statement of Financial Activities 20 to 21
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THE PRINCES RISBOROUGH CENTRE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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 2023. 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 and achievements in 2022/23

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 2023

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 2023 total funds held by the charity were £1,487,122 (2022: £1,414,412) of which £326,489 (2022: £331,819) were restricted funds.

Investment policy and objectives

In recent years the charity has made a small, but increasing, surplus on its trading activities. This, combined with the occasional gift through legacy donations, has led us to consider investing funds to allow for essential capital projects, in accordance with our status as a social enterprise. The Trustees are developing an investment policy that will ensure that they are in a position to exercise proper management and supervision of these funds.

Reserves policy

The Trustees' intention has been to maintain the charity's reserves at a level at least equivalent to six months operational expenditure having regard to the above factors. Following our experience during the period of lockdown and the slow reopening of services, the Board reviewed this policy and agreed that it would be prudent to maintain future reserves at the equivalent of 12 months operating expenditure. 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.

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

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.

2

THE PRINCES RISBOROUGH CENTRE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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.

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

3

THE PRINCES RISBOROUGH CENTRE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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

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 30 November 2023 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 2023.

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 member of the Institute of Chartered Accountants in 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

The Institute of Chartered Accountants in England and Wales

Seymour Taylor Limited 57 London Road High Wycombe Buckinghamshire HP11 1BS

30 November 2023

5

THE PRINCES RISBOROUGH CENTRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
4
Day care
Total
EXPENDITURE ON
Charitable activities
5
Day care
NET INCOME/(EXPENDITURE)
Transfers between funds
14
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
30,671
680,485
711,156
632,326
78,830
(790)
78,040
1,082,593
1,160,633		 Restricted
funds
£
35,532
-
35,532
41,652
(6,120)
790
(5,330)
331,819
326,489		 31.3.23
Total
funds
£
66,203
680,485
746,688
673,978
72,710
-
72,710
1,414,412
1,487,122		 31.3.22
Total
funds
£
94,928
564,894
659,822
520,738
139,084
-
139,084
1,275,328
1,414,412

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 2023

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
426,055
86,692
669,214
755,906
(21,328)
734,578
1,160,633
1,160,633		 Restricted
funds
£
295,091
-
31,398
31,398
-
31,398
326,489
326,489		 31.3.23
Total
funds
£
721,146
86,692
700,612
787,304
(21,328)
765,976
1,487,122
1,487,122
1,160,633
326,489
1,487,122		 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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on 30 November 2023 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 2023

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
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		 31.3.23
£
99,667
99,667
(72,997)
5,416
(67,581)
32,086
668,526
700,612		 31.3.22
£
152,236
152,236
(32,028)
-
(32,028)
120,208
548,318
668,526

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 2023

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM
Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Increase in debtors
(Decrease)/increase in creditors		 OPERATING ACTIVITIES
31.3.23
31.3.22
£
£
72,710
139,084
49,639
57,741
(5,070)
(60,275)
(17,612)
15,686
Net cash provided by operations 99,667
152,236

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank and in hand		 At 1.4.22
Cash flow
At 31.3.23
£
£
£
668,526
32,086
700,612
668,526
32,086
700,612
Total 668,526
32,086
700,612

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 2023

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.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of revenue, expenses, assets and liabilities, and the disclosure of contingent liabilities at the date of the financial statements. If in the future such estimates and assumptions, which are based on the management's best judgment at the date of the financial statements, deviate from the actual circumstances, the original estimates and assumptions will be modified as appropriate in the year in which the circumstances change.

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.

10

THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

----- Start of picture text -----
||| |---|---| |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%|

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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 Statement of Financial Activities 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.

11

THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

3. DONATIONS AND LEGACIES

Donations
Gift aid
Grants		 31.3.23
£
37,731
3,040
25,432
66,203		 31.3.22
£
43,387
6,680
44,861
94,928

Grants

Grants received, included in the above are as follows:

MWK
PRTC
Screwfix Foundation
Heart of Bucks
Bucks CC
Coronavirus Job Retention Scheme
Anonymous grant
Low Carbon Workplaces
St. Mary's		 Unrestricted
£
-
-
-
-
-
-
-
-
-		 Restricted
£
-
250
5,000
6,800
5,500
-
500
5,000
2,382
25,432		 2023
£
250
5,000
6,800
5,500
-
500
5,000
2,382
25,432		 2023
£
250
5,000
6,800
5,500
-
500
5,000
2,382
25,432		 2022
£
100
125
-
-
34,340
10,296
-
-
-
44,861		 31.3.22
£
20,635
488,775
15,604
39,880
564,894
Totals
£
673,978
INCOME FROM CHARITABLE ACTIVITIES
Activity
Lunches
Day care
Client fees
Day care
Rent
Day care
Contribution towards
transport costs
Day care
CHARITABLE ACTIVITIES COSTS
Day care		 Direct
Costs
£
564,783		 31.3.23
£
24,210
585,632
17,504
53,139
680,485
Support
costs (see
note 6)
£
109,195

4. INCOME FROM CHARITABLE ACTIVITIES

5. CHARITABLE ACTIVITIES COSTS

12

THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

6. 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
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 Governance
Other
costs
£
£
98,805
10,390
31.3.23
Day care
£
38,095
5,455
3,570
3,966
6,048
5,248
3,014
5,832
27,577
98,805
31.3.23
Day care
£
8,080
2,310
10,390

31.3.23
£
49,639		 Totals
£
109,195
31.3.22
Total
activities
£
24,703
7,845
3,212
2,444
6,985
4,283
2,689
4,385
13,092
69,638
31.3.22
Total
activities
£
6,915
8,800
15,715
31.3.22
£
57,741

13

THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

In 2023 two trustees were reimbursed travel expenses of £109 (2022 - No trustees were reimbursed expenses).

9. STAFF COSTS

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|||| |---|---|---| |31.3.23|31.3.22| |£|£| |Wages and salaries|391,378|306,916| |Social security costs|13,740|8,838| |Other pension costs|5,153|3,642| |410,271|319,396|

----- End of picture text -----

The average monthly number of employees during the year was as follows:

----- Start of picture text -----
||| |---|---| |31.3.23|31.3.22| |34|31|

----- End of picture text -----

No employees received emoluments in excess of £60,000.

10. TANGIBLE FIXED ASSETS

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Fixtures| |Freehold|and|Motor|Computer| |property|fittings|vehicles|equipment|Totals| |£|£|£|£|£| |COST| |At 1 April 2022|439,803|314,324|123,621|3,687|881,435| |Additions|-|56,577|15,750|670|72,997| |-|-|-| |Disposals|(5,416)|(5,416)| |At 31 March 2023|439,803|365,485|139,371|4,357|949,016| |DEPRECIATION| |At 1 April 2022|46,588|51,193|78,003|2,447|178,231| |Charge for year|8,796|21,762|18,214|867|49,639| |At 31 March 2023|55,384|72,955|96,217|3,314|227,870| |NET BOOK VALUE| |At 31 March 2023|384,419|292,530|43,154|1,043|721,146| |At 31 March 2022|393,215|263,131|45,618|1,240|703,204|

----- End of picture text -----

14

THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
VAT
Prepayments and accrued income
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 31.3.23
£
77,497
4,437
434
4,324
86,692
31.3.23
£
7,839
-
1,000
12,489
21,328		 31.3.22
£
59,970
18,252
532
2,868
81,622
31.3.22
£
24,350
2,524
694
11,372
38,940

13. LEASING AGREEMENTS

Total financial commitments, guarantees and contingencies not included in the statement of financial position amount to £1,715 (2022 - £2,779), which relates to operating lease commitments.

14. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated fixed asset fund
Designated legacy fund
Restricted funds
Restricted fixed asset fund
Minibus fund
Covid fund
Pottery class fund
Sports fund
Solar panels fund
Hydrotherapy fund
Back Path fund
Bourne End wetroom fund
TOTAL FUNDS		 At 1.4.22
£
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		 Net
movement
in funds
£
112,791
(33,961)
-
78,830
(15,680)
-
(4,261)
(3,111)
(2,389)
10,000
1,800
5,100
2,421
(6,120)
72,710		 Transfers
between
funds
£
(39,181)
38,391
-
(790)
29,190
(8,541)
-
-
791
(20,650)
-
-
-
790
-		 At
31.3.23
£
640,855
426,055
93,723
1,160,633
295,091
-
16,176
5,901
-
-
1,800
5,100
2,421
326,489
1,487,122

15

THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fixed asset fund
Restricted funds
Restricted fixed asset fund
Covid fund
Pottery class fund
Sports fund
Solar panels fund
Hydrotherapy fund
Back Path fund
Bourne End wetroom fund
Energy costs
Christmas meal contribution
TOTAL FUNDS		 Incoming
resources
£
711,156
-
711,156
-
-
2,382
-
10,000
1,800
5,100
15,500
500
250
35,532
746,688		 Resources
Movement
expended
in funds
£
£
(598,365)
112,791
(33,961)
(33,961)
(632,326)
78,830
(15,680)
(15,680)
(4,261)
(4,261)
(5,493)
(3,111)
(2,389)
(2,389)
-
10,000
-
1,800
-
5,100
(13,079)
2,421
(500)
-
(250)
-
(41,652)
(6,120)
(673,978)
72,710

16

THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Designated fixed asset fund
Designated minibus fund
Designated legacy fund
Restricted funds
Restricted fixed asset fund
Bourne End kitchen fund
Upper hall refurbishment fund
Minibus fund
Shed fund
Covid fund
Pottery class fund
Sports fund
Solar panels fund
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

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fixed asset fund
Designated minibus fund
Restricted funds
Restricted fixed asset fund
Bourne End kitchen fund
Upper hall refurbishment fund
Shed fund
Covid fund
Pottery class fund
Sports fund
Solar panels fund
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

17

THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

14. MOVEMENT IN FUNDS - continued

Designated Funds

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 which is taking place in 2023-24.

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.

Restricted income was received to allow the centre to open under COVID 19 restrictions. Some of this was used to purchase assets which were transferred to the 'Restricted fixed asset' fund in the 2022 financial year.

Restricted income was received for pottery classes.

Restricted income was received for sports activities which was started in the current financial year.

Restricted income was received to allow the charity to purchase solar panels, which has been done in the year and was transferred to the restricted fixed asset fund in the 2023 financial year.

Restricted income was received for hydrotherapy session.

Restricted income was received for development of the back path.

Restricted income was received for development of Bourne End wetroom.

Restricted income was received as a contribution towards energy costs.

Restricted income was received as a contribution towards the Christmas meal for users of the centres.

18

THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023 (2022 none).

19

THE PRINCES RISBOROUGH CENTRE LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Charitable activities
Lunches
Client fees
Rent
Contribution towards transport costs
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Kitchen
Activities
Vehicle running costs
Repairs and maintenance
Depreciation of freehold property
Depreciation of computer equipment
Depreciation of fixtures and fittings
Depreciation of motor vehicles
Support costs
Other
Utilities
Insurance
Telephone
Sundries
Administration
I.T.
Waste
Cleaning materials
Carried forward		 31.3.23
£
37,731
3,040
25,432
66,203
24,210
585,632
17,504
53,139
680,485
746,688
391,378
13,740
5,153
17,831
22,637
27,232
37,173
8,796
867
21,762
18,214
564,783
38,095
5,455
3,570
3,966
6,048
5,248
3,014
5,832
71,228		 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
2,444
6,985
4,283
2,689
4,385
56,546

This page does not form part of the statutory financial statements

20

THE PRINCES RISBOROUGH CENTRE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Other
Brought forward
Advertising
Governance costs
Independent examination
Legal and professional
Total resources expended
Net income		 31.3.23
£
71,228
27,577
98,805
8,080
2,310
10,390
673,978
72,710		 31.3.22
£
56,546
13,092
69,638
6,915
8,800
15,715
520,738
139,084

This page does not form part of the statutory financial statements

21