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|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|||
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|PLANS FOR FUTURE PERIODS|||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|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.|||||||||||||||||||||||||||
|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.|||||||||||||||||||||||||||
|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)|||||||||||||||||||||||||||
|C Flory (resigned 10June 2021)|||||||||||||||||||||||||||
|SDunston
(resigned 4 March 2022)|||||||||||||||||||||||||||
|LHaselhurst|||||||||||||||||||||||||||
|K McDonald
(resigned 15 October 2021)|||||||||||||||||||||||||||
|C Welsh|||||||||||||||||||||||||||
|D Worth|||||||||||||||||||||||||||
|KJackson (appointed 4 March 2022)|||||||||||||||||||||||||||
|P Barr (appointed
10June 2022)|||||||||||||||||||||||||||
|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;|||||||||||||||||||||||||||
|-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.||||||
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|A
F
F||||
|---|---|---|---|
|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.||||
|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||
|audit conducted
in accordance with 5As (UK) will always detect a material
misstatement
when Itexists. Misstatements
can arise from fraud or error and||||
|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.||||
|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;||||
|-Inquired ofmanagement,
and those charged with governance,
about their own identlRcation
and assessment ofthe risks or Irregularities,
ktduding||||
|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||||
|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.||||
|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||||
|Q~EF
)IEELPPIKT||||
|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||||
|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||||
|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|
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|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|