| General | Information | ||
|---|---|---|---|
| Trustee's | Report | 2-4 | |
| Independent Auditor's |
Report | 5-6 | |
| Statement of Financial Activities | |||
| Balance | Sheet | ||
| Summary | ofCash Flows | ||
| Notes to | the Accounts | 10-12 |
| THE SCREWFIX FOUNDATION | |||
|---|---|---|---|
| COMPANY INFORMATION | |||
| TRUSTEES: | J Mewett | ||
| E Bell | |||
| N Boyd | |||
| L Haselhurst | |||
| CWelsh | |||
| DWorth | |||
| KJackson | |||
| P Barr | |||
| TREASURER: | D Worth | ||
| REGISTERED OFFICE: | Trade House | ||
| Mead Avenue | |||
| Houndstone | Business Park | ||
| Yeovil | |||
| Somerset | |||
| BA22 BRT | |||
| REGISTERED CHARITY NO: | 1151375 | ||
| COMPANY NUMBER: | 08415662 | ||
| AUDITOR: | Milsted Langdon |
LLP | |
| Motivo House | |||
| Alvington | |||
| Yeovil | |||
| BA20 2FG | |||
| BANKERS: | HSBC Bank Plc | ||
| Regional Service Centre | |||
| PO Box125 | |||
| 2nd floor | |||
| 62-76 Park Street | |||
| London | |||
| SE19DZ |
| PLANS FOR FUTURE PERIODS | ||||||||||||||||||||||||||
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| The charity plans to continue the activities outlined |
above | in | the | forthcoming | years subject | to satisfactory | funding | arrangements | and the Trustees | will | ||||||||||||||||
| continue to promote the charity so that donations | in the future | can | be secured. | |||||||||||||||||||||||
| GOING CONCERN | ||||||||||||||||||||||||||
| The Trustees have reviewed financial information |
for | the next twelve | months. | Following | this | review, the Trustees consider there | to be little impact on | the | ||||||||||||||||||
| charity's ability to act as a going concern. |
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| AUDITOR | ||||||||||||||||||||||||||
| Insofar as the Trustee are aware: | ||||||||||||||||||||||||||
| -There is no relevant audit information ofwhich |
the charitable | company's auditor is unaware; |
and | |||||||||||||||||||||||
| -The Trustees have taken all steps that they ought to have |
taken | to | make themselves | aware | of | any | relevant | audit | information | and | to establish | that | the | |||||||||||||
| auditor is aware ofthat information. |
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| REFERENCE AND ADMINISTRATION | ||||||||||||||||||||||||||
| The Trustees, who served throughout the year and subsequently, |
except as noted, were | as follows: | ||||||||||||||||||||||||
| J Mewett | ||||||||||||||||||||||||||
| E Bell | ||||||||||||||||||||||||||
| N Boyd (appointed 10June 2021) |
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| C Flory (resigned 10June 2021) | ||||||||||||||||||||||||||
| SDunston (resigned 4 March 2022) |
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| LHaselhurst | ||||||||||||||||||||||||||
| K McDonald (resigned 15 October 2021) |
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| C Welsh | ||||||||||||||||||||||||||
| D Worth | ||||||||||||||||||||||||||
| KJackson (appointed 4 March 2022) | ||||||||||||||||||||||||||
| P Barr (appointed 10June 2022) |
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| TRUSTEES' RESPONSIBILITIES | ||||||||||||||||||||||||||
| Company law requires the Trustees to prepare financial statements |
for each financial year which | give | a true | and fair | view of the | state ofthe affairs of | the | |||||||||||||||||||
| charitable company as at the balance sheet date and of its |
incoming | resources | and application | of resources, | including | income | and | expenditure, | for | the | ||||||||||||||||
| financial year. In preparing those financial statements, |
the Trustees | should follow | best practice | and: | ||||||||||||||||||||||
| -Select suitable accounting policies and apply them consistently; |
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| -Observe the methods and principles in the Charities |
SORP; | |||||||||||||||||||||||||
| - Make judgements and estimates that are reasonable |
and prudent; | |||||||||||||||||||||||||
| -State whether applicable accounting standards |
have | been followed, subject to | any material | departures | disclosed and | explained | in | the financial | ||||||||||||||||||
| statements; | ||||||||||||||||||||||||||
| -Prepare the financial statements on the going concern basis |
unless | it is not appropriate | to assume | that the | company | will continue | on that basis. | |||||||||||||||||||
| The Trustees are responsible for keeping proper |
accounting | records | which disclose, with reasonable | accuracy, at any | time, the | financial position of |
the | |||||||||||||||||||
| Charity and enable them to ensure that the financial |
statements | comply with |
both the Companies | Act 2006 | and the | Charities | Act 2011.They | are | also | |||||||||||||||||
| responsible for safeguarding the assets of the |
Charity and |
hence | for taking | reasonable | steps | for | the prevention | and detection | of fraud | and other | ||||||||||||||||
| irregularities. | ||||||||||||||||||||||||||
| The Trustees are responsible for the maintenance |
and integrity | of | the corporate | and financial | information | included | on | the charitable | company's | website. | ||||||||||||||||
| Legislation in the United Kingdom governing the |
preparation | and | dissemination | offinancial statements | may | differ from legislation | in other jurisdictions. |
| A F F |
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| We have been appointed as auditor under the Chorltfes Act2011,s.144 and report In accordance with regulations made under the Act and |
relevant | ||
| regulations made or having effect thereunder. |
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| Our ob)ectives are to obtain reasonable assurance about whether the Rnandal statements as a whole are free from material fraud or error, and to Issue an auditor's report that Indudes our opinion. Reasonable assurance is a high level ofassurance, |
misstatement, whether but is not a guarantee |
due to that an |
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| audit conducted in accordance with 5As (UK) will always detect a material misstatement when Itexists. Misstatements can arise from fraud or error and |
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| are considered material if, individually or in the aggregate, they could reasonably be expected to Inguence the economic |
dedslons of users taken on | the | |
| basis ofthese Rnandal statements. | |||
| Irregularities, induding fraud, are instances ofnon-compliance with laws and regulations. We design procedures in line with our responsibilities, |
outlined | ||
| above, todetect material misstatements in respect ofirregularities, including fraud. |
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| In Identifying and assessing risks ofmaterial misstatement in respect ofirregularities, induding fraud, the audit engagement |
team: | ||
| -Obtained an understanding ofthe nature ofthe industry and sector, indudlng the legal and regulatory framework that the |
charitable company | ||
| operates in and how the charitable company is complying with the legal and regulatory framework; |
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| -Inquired ofmanagement, and those charged with governance, about their own identlRcation and assessment ofthe risks or Irregularities, ktduding |
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| known and actual, suspected or alleged instances offraud; | |||
| -Discussed matters about norvcompliance with laws and regulations and how fraud might occur induding assessment ofhow and where the fmancial |
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| statements may be susceptible tofraud. However, It is the primary responsibility ofmanagement, with the oversight ofthose charged with governance, to ensure |
that the entity's operations |
are | |
| conducted In accordance with the provisions oflaws and regulations and forthe prevention and detection offraud. |
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| A further descrlptkm of our responsibilities for the audit of the flnandal statements is located on the Flnandal Reporting Coundl's webslte |
at | ||
| http://www. frc.org.uk/auditorsresponsibgitles. This description forms part ofour auditor's report |
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| Q~EF )IEELPPIKT |
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| This report Is made solely to the charitable comparv/s Trustees, as a body, in accordance with Part 4of the Charlt)es (Accounts and Reports) Regulations 20$L Our audit work has been undertaken sothat we might state tothe charity's Trustees those matters we are required tostate to them in an auditor's |
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| report and for no other purpose. Tothe fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable |
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| corn pany and its Trustees as abody, for our audit work, for this report, orforthe opinions we have formed. |
| THE SCREWFIX FOUNDATION | THE SCREWFIX FOUNDATION | THE SCREWFIX FOUNDATION | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| STATEMENT OF FINANCIAL ACTIVITIES | ||||||||||
| (Incorporating | an Income and Expenditure | Account) | ||||||||
| FOR THE | YEAR ENDED | 31JANUARY | 2022 | |||||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |||||
| Unrestricted | Restricted | Unrestricted | Restricted | |||||||
| Notes | Fund | Fund | Total | Fund | Fund | Total | ||||
| E | E | E | E | E | ||||||
| INCOME | ||||||||||
| Donations &legacies |
2 | 2,342,053 | 2,342,053 | 1,975,830 | 52,000 | 2,027,830 | ||||
| TOTAL INCOME | 2,342,053 | 2,342,053 | 1,975,830 | 52,000 | 2,027,830 | |||||
| EXPENDITURE | ||||||||||
| Costs of raising funds | 4 | 10,002 | 10,002 | 908 | 908 | |||||
| Expenditure on charitable |
activities | 3 | 2,194,984 | 2,194,984 | 1,998,893 | 1,998,893 | ||||
| TOTAL EXPENDITURE | 2,204,986 | 2,204,986 | 1,999,801 | 1,999,801 | ||||||
| NET INCOME AND | NET MOVEMENT | |||||||||
| IN FUNDS FOR THE YEAR | 137,067 | 137,067 | (23,971) | 52,000 | 28,029 | |||||
| Transfer | 12 | 52,000 | (52,000) | |||||||
| RECONCILIATION | OF FUNDS | |||||||||
| TOTAL FUNDS BROUGHT | FORWARD | 466,072 | 52,000 | 518,072 | 490,043 | 490,043 | ||||
| TOTAL FUNDS CARRIED FORWARD | 12 | 655,139 | 655,139 | 466,072 | 52,000 | 518,072 |
| THE SCREWFIX FOUNDATION | THE SCREWFIX FOUNDATION | THE SCREWFIX FOUNDATION | THE SCREWFIX FOUNDATION | THE SCREWFIX FOUNDATION | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHARITABLE COMPANY 08415662 | |||||||||||
| BALANCE SHEET | |||||||||||
| 31lanuary | 2022 | ||||||||||
| Notes | 2022 | 2021 | |||||||||
| CURRENTASSETS | |||||||||||
| Debtors | 349,314 | 266,873 | |||||||||
| Cash at Bank | and in | Hand | 364,514 | 280,965 | |||||||
| 713,828 | 547,838 | ||||||||||
| Creditors: amounts | falling due within one year | (58,689) | I29,766I | ||||||||
| NET ASSETS | 655,139 | 518,072 | |||||||||
| TOTALFUNDS | |||||||||||
| Restricted funds | 52,000 | ||||||||||
| Unrestricted | funds | 655,139 | 466,072 | ||||||||
| 12 | 655,139 | 518,072 | |||||||||
| Forthe financial year ending 31 | January 2022 the | charitable | company | was entitled to | exemption | from audit under | section 477 of the Companies | Act 2006 | |||
| relating to small companies. | |||||||||||
| The members | have | not required | the company to obtain an audit in accordance | with section 476 | ofthe Companies | Act 2006. |
| FOR THE YE | AR ENDED 31JANUARY | 2022 | ||||
|---|---|---|---|---|---|---|
| Total Funds | TotalFunds | |||||
| 2022 | 2021 | |||||
| Note | 6 | 6 | ||||
| Net cash | generated/(used) | in operating | activities | 83,549 | (75,664) | |
| Change | in cash and cash | equivalents in |
the year | 83,549 | (75,664) | |
| Cash and cash equivalent | brought forward | 280,965 | 356,629 | |||
| Cash and cash equivalents | carried forward | 364,514 | 280,965 |
| 3 | EXPENDIT | UR | E | ON CH | A | RITABLE ACTI | VITIE | S | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||||
| E | E | |||||||||
| Grants - local charities | 2,025,479 | 1,871,775 | ||||||||
| Grants - national charities | 143,000 | 145,000 | ||||||||
| Prior year | grants not taken up | (23,889) | ||||||||
| Prior year | grant creditor adjustment | 17,295 | ||||||||
| Governance | costs (note 5) | 7,758 | 4,747 | |||||||
| Insurance | 1,452 | 1,260 | ||||||||
| Bank fees | ||||||||||
| 2,194,984 | 1,998,893 | |||||||||
| 4 | COST OF |
RAISING FUNDS | ||||||||
| 2022 | 2021 | |||||||||
| E | E | |||||||||
| Gambling | commission | and local authority | fees | 1,458 | 692 | |||||
| Payday lottery | fees | 8,100 | ||||||||
| Other direct | costs | 216 | ||||||||
| 10,002 | 908 | |||||||||
| 5 | GOVERNANCE | COSTS | ||||||||
| 2022 | 2021 | |||||||||
| E | f | |||||||||
| Audit fee | 7,758 | 4,747 | ||||||||
| 7,758 | 4,747 | |||||||||
| 6 | DEBTORS:AMOUNTS | DUE WITHIN ONE YEAR | ||||||||
| 2022 | 2021 | |||||||||
| E | E | |||||||||
| Amounts | owed | from Screwfix | 140,200 | 9,710 | ||||||
| Accrued donations | 209,114 | 257,163 | ||||||||
| 349,314 | 266,873 | |||||||||
| 7 | CREDITORS: | AMOUNTS | FALLING DU | WITHIN ONE YEAR | ||||||
| 2022 | 2021 | |||||||||
| f | E | |||||||||
| Trade creditors | 13,090 | 2,766 | ||||||||
| Committed | donation | grants | 42,099 | 23,500 | ||||||
| Accruals | 3,500 | 3,500 | ||||||||
| 58,689 | 29,766 |
| 11 | RECONCILIATION | OF | NET MOVEMENT | IN FUNDS TO NET CASHFLOW FROM OPERATING ACTIVITIES | ||||||
| 2022 | 2021 | |||||||||
| E | E | |||||||||
| Net movement | in | funds | 137,067 | 28,029 | ||||||
| Increase in |
debtors | (82,441) | (96,968) | |||||||
| Increase/(decrease) | in creditors | 28,923 | (6,725) | |||||||
| 83,549 | (75,664) | |||||||||
| 12 | FUNDS | |||||||||
| Balance as at | ||||||||||
| Balance at 1 | Incoming | Resources | 31January | |||||||
| February 2021 | resources | expended | Transfer | 2022 | ||||||
| E | E | E | E | E | ||||||
| Unrestricted | funds | 466,072 | 2,342,053 | (2,204,986) | 52,000 | 655,139 | ||||
| Total unrestricted | funds | 466,072 | 2,342,053 | (2,204,986) | 52,000 | 655,139 | ||||
| Restricted funds | 52,000 | (52,000) | ||||||||
| Total restricted | funds | 52,000 | (52,000) | |||||||
| Total funds | 518,072 | 2,342,053 | (2,204,986) | 655,139 | ||||||
| Balance as at | ||||||||||
| Balance at 1 | Incoming | Resources | 31January | |||||||
| February 2020 | resources | expended | 2021 | |||||||
| E | E | E | E | |||||||
| Unrestricted | funds | 490,043 | 1,975,830 | (1,999,801) | 466,072 | |||||
| Total unrestricted | funds | 490,043 | 1,975,830 | (1,999,801) | 466,072 | |||||
| Restricted funds | 52,000 | 52,000 | ||||||||
| Total restricted | funds | 52,000 | 52,000 | |||||||
| Total funds | 490,043 | 2,027,830 | (1,999,801) | 518,072 |
| ANALYSIS OF NET ASSETS BETWEEN FUNDS | ANALYSIS OF NET ASSETS BETWEEN FUNDS | ||
|---|---|---|---|
| 2022 | 2021 | ||
| E | E | ||
| Current | assets | 713,828 | 547,838 |
| Current | liabilities | (58,689) | (29,766) |
| Total net assets | 655,139 | 518,072 |