ILKLEY COMMUNITY ENTERPRISE LIMITED
ANNUAL REPORT AND ACCOUNTS
For the year ended 31[ST] DECEMBER 2021
Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
CONTENTS
Section
1. Introduction
2. Purpose, aims, operations and achievements
3. Structure, governance and management
4. Financial review
5. Plans for future periods
6. Financial statements and independent review
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
1.0 Introduction
The Trustees are pleased to present their annual report together with the charity’s financial statements for year ending 31[st] December 2021: these are also prepared to meet the Companies Act requirements for a director’s report and accounts. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 2015).
2. Purpose, objectives, operations and achievements
2.1 The charity purposes and aims
Our charity’s purposes as set out in the objects contained in the company’s Memorandum and Articles of Association are:
To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society.
The aims of our charity are to increase the levels of social and economic integration, independence and inclusion for young people and adults with a particular focus on people with learning disabilities and the elderly.
2.2 Main Business Operations and Achievements
We deliver our purpose through a number of business operations. This year, these have included:
Outside the Box Community Café
Our inclusive community café continued to be impacted by the pandemic over the reporting period due to national and local public health restrictions. The café fully reopened in October 2021 in new premises at The Arcade in central Ilkley from which point it started to re-establish and grow its customer base and deliver our Working Life services for members (young people and adults with learning disabilities).
Outside the Box Choices
OTB Choices aims to enable young people and adults with learning disabilities to have full and active lives. Following the early part of the year when remote service delivery was required due to the pandemic, full premises-based delivery commenced from April 2021 and the service gradually recovered its operations over the reporting period.
Carers and Companions
Through this business, we deliver homecare and support to elderly people and people with health conditions, physical and learning disabilities. This year we have continued to build on our Care Quality Commission (CQC) rated ‘outstanding’ care
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
quality and market-leading reputation as a good health and social care employer, delivering excellent care to our local community. The operations continued to be impacted by the COVID-19 pandemic during 2021 but maintained excellence in service delivery to all clients throughout these challenging times.
2.3 Our staff team
Over the year we have managed a range of HR and workforce issues including: aligning our staffing arrangements to meet changing business needs and service delivery priorities; supporting, training and rewarding our staff; and continuing efforts to recruit new employees to both maintain service delivery and support the effective restart and recovery of our business operations. Recruitment has continued to be a challenge within the context of ‘COVID and Brexit’ related skills and labour market pressures being experienced both locally and nationally.
We thank all our employees for their continued commitment and contribution to the work of the charity.
2.4 Our volunteers
The pandemic forced us to largely ‘stand down’ our volunteer team for much of 2020 and into 2021 and we very much missed their direct involvement with us. Reengaging volunteers and recruiting new ones continues as a key part of our restart and recovery planning for Outside the Box.
2.5 Our approach and values
Central in our approach to delivering our charitable objectives is the design and delivery of the highest standards of services and support for our members, clients, volunteers, customers and our local community. We recognise and value the contribution that can be made by all and are committed to treating everyone regardless of ability, age, gender, experience, status, faith or ethnic group with respect and to providing a positive, supportive and welcoming environment across all our business operations.
Our core values, informing all that we do, are as follows:
-
‘Can do’ – having a positive approach, taking responsibility, celebrating success and challenging when needed
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Respect – always showing regard for the feelings and rights of others
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Inclusion – friendly and welcoming to the whole community
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Quality – delivering the highest standards in all our services and products
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Progression – committed to helping others to learn, develop and to realise their potential
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Enterprising – being creative, ambitious and bold in working to deliver our vision and purpose.
3.0 Structure, governance and management
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
3.1 Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 18 October 2012 and registered as a charity on 19 April 2013. The company was established under a Memorandum and Articles of Association identifying the objects and powers of the company and is governed by this document.
3.2 The Board
The Directors of the company are also charity Trustees for the purposes of charity law and comprise the Board for the charitable company. All Directors/Trustees give their time voluntarily and receive no benefits from the charity.
The following changes in Trustees/Directors occurred in period:
Appointments Phillip Howell 21[st] October 2020 Tim Brooke 19[th] May 2021
The Board is well represented in terms of the expertise and skills necessary to effectively lead and manage the charity with our Trustee Directors providing a broad knowledge and skills base. This includes:
-
Mr Graham Smith (Chairman): successful businessman, Chair of numerous businesses involved in the health and charitable sectors, an Honorary Entrepreneurial Fellow of Durham University Business School, providing substantial expertise in business strategy and growth, charity leadership, finance and investment, elderly care and special education;
-
Mrs Amanda Stainton: HR Director at Portakabin Group, member of West Yorkshire Combined Authority Boards and Governor at a local primary school, providing extensive HR and business expertise together with culture and organisational change skills;
-
Mr Michael Walker: a retired business services professional, long-serving volunteer at Outside the Box and active community volunteer including with Burley Festival, providing insights on volunteer engagement and support and our internal communications;
-
Mr Richard Thompson: entrepreneur, qualified therapist and volunteer with Outside the Box (mentoring/support to members). Richard has been blind from young adulthood and champions the needs and rights of people with disabilities.
-
• Mr Phil Howell: a highly qualified adult social care professional with extensive strategic and operational experience in the health, social care and voluntary sectors. Phil has worked at national and local government levels, including as Strategic Commissioning Manager at Bradford Council and offers deep expertise in learning disability, sensory impairment and autism policy and practice; and
-
Mr Tim Brooke: Head of Hotel Services and Procurement at BUPA UK with many decades’ experience in the hospitality and catering sector including in leadership roles at The Alhambra Theatre, Trust House Forte and St George’s Hall; Tim has an
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
MBA in Hospitality, is a Trustee of Burley Community Trust and offers extensive expertise, practical ‘know-how’ and strategic insights and links to the charity.
The Board is supported by our CEO, Louise Hale. One of the founders of the charity, Louise is highly qualified (MBA, PGCE in Adult Education) with over 35 years’ experience in strategic, operational and consultancy roles in post-16 education, training and employment, business development, regeneration, research and competitive tendering and funding.
We are committed to maintaining a broad and appropriate skills mix on the Board and to ensuring a diversity of membership that adequately reflects our overall business, the scope of our services and the needs of our members, volunteers, customers and stakeholders. We openly communicate opportunities for Board involvement and Trustee recruitment and have a clear procedure for recruiting and selecting potential new Trustees.
3.3 Trustee Induction and Training
Trustees are familiar, through their involvement with other charitable organisations and practical involvement with the charity, with both the obligations of Board members and the detailed operations of the charity. New Trustees are provided with appropriate induction and training, including briefing sessions by the CEO and managers, and an annual review is implemented to identify and agree action to address training and support needs of all Board members.
3.4 Management and Structure
The Board is responsible for the strategic direction, leadership, management and policy of the charity. The Board is supported in its work by the Chief Executive and an Accountant and Company Secretary (paid, part-time). The Board meets monthly and uses sub-groups e.g. project development, quality, to support delivery of strategic and operational priorities with the charity’s management team. The Chief Executive and business/service managers work to agreed levels of delegated authority reporting to the Board on a monthly basis.
We monitor, and revise as appropiriate, our organisational structure and staffing to ensure that we have the right resources, skills and expertise to fully deliver our charitable objects. During the last year we have, as a result of the pandemic, flexed parts of our stucture to respond to the demands of the crisis: as we restart, recover and re-grow our services in 2021 and beyond we will continue to review and refine our structure to maintain best fit with our business priorities.
3.5 Related Parties
We work with a wide range of organisations, groups and individuals in the delivery of our objects. These include: the families of our members and clients; Local Authorities; local NHS staff, GP surgeries and health centres; funding and commissioning bodies; local businesses and community organisations; educaion and training providers; civic bodies; and many other charities and social enterprises. We continue to strengthen and expand our links to support the delivery of our objects
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
and ensure that we meet the changing needs of our members, volunteers, clients, customers and local community.
3.6 Responsibilities of the Board
Company law requires the Board to prepare financial statements for each financial year that give a true and fair view of the state of 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 the financial statements, the Trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
-
State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence 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.
3.7 Supporters and donors
We thank all those organisations who have provided us with financial support over the year including the following: Igen Trust; Lloyds Bank Foundation; The Duke of Devonshire Trust; Bradford Council Day Opportunities Programme; DCMS Community Match Challenge; The Graham and Diana Smith Charitable Trust; Natwest Bank (Bounce Back Loan); and the Charity Bank (Loan). We also thank all those who have made private donations to the charity.
4.0 Financial Review
The charity, through the meticulous management of our cashflow, substantial success in securing grant and other funding and continuing service delivery through Outside the Box and Carers and Companions, generated a small profit on unrestricted funds. Net loss for the year was £34,210 including a net profit of £19,526 on unrestricted funds and net loss of £53,736 on restricted funds. Unrestricted reserves at year end were £196,477 at year end.
4.1 Principal Funding Sources
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
The main income streams for the charity comprised: trading income from OTB cafe; fee income for OTB member services; grant funding; and contributed trading income from Carers and Companions. Other income was from a number of sources including donations.
4.2 Main expenditure
The major expenditure of the charity related to: the operation of Outside the Box (Café, Choices and Connections); service delivery by Carers and Companions; and investment into the refurbishment of the Arcade.
4.3 Investment Policy
Aside from retaining a prudent level of reserves each year, the charity’s funds will be invested in activities to further the objects as set out in our Memorandum and Articles of Association. The Board is committed to reinvesting any surplus funds and will on an annual basis review the charity’s investment priorities and agree relevant investments to meet identified needs and opportunities aligned to our objects.
4.4 Reserves Policy
The charity implements a reserves policy, agreed by the Board, that addresses the main risks to the organisation, ensures that unrestricted funds and operating surpluses are maintained at a sufficient level to enable activities to be continued at a sustainable level in the event of significant changes in our business operation.
The charity, in line with our loan agreement with The Charity Bank, retains a designated £15,000 in a Charity Bank account.
4.5 Risk Management
The Trustees have a risk management strategy that comprises:
-
An annual review of the principal risks and uncertainties that the charity faces;
-
The establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
-
The implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
The Board, at its monthly meetings, reviews safeguarding risks and issues, the currency of accreditations and training for relevant risks including health and safety, food hygiene and information security. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place, and regular training for staff and volunteers working in all relevant operational areas.
Our risk management policies, procedures and protocols were revised to respond to the COVID-19 pandemic. As national legislation and guidance changes we will review, revise and implement updated policies, procedures and protocols to ensure that we fulfill our commitment to safeguarding the safety and welfare of our staff, volunteers, members, clients, customers and wider community.
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
5.0 Plans for Future Periods
We have obviously had to considerably revise our plans as a result of the impact of the COVID pandemic over the last 2 years and the uncertain operating environment pertaining in 2022 e.g. cost of living crisis, energy costs, inflationary pressures. We remain committed to and focused on securing a full recovery, renewed growth and increased service reach and impact across all our business operations. Our ambition is to continue to provide excellent service and new opportunities for our members, clients, customers and wider community.
6. Financial Statements and Independent Review
In line with recommended best practice from the Charity Commission, the charity’s financial statements for year ending 31 December 2021 have been subject to Independent Review and approved by a fully qualified Independent Reviewer.
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
Reference and Administrative Information
Charity Name: Ilkley Community Enterprise Ltd Charity Registration Number: 1151706 Company Registration Number: 08259045 Registered Office: Outside the Box Cafe The Arcade South Hawksworth Street Ilkley West Yorkshire LS29 9DY Operational Address (1): Outside the Box Cafe The Arcade South Hawksworth Street Ilkley West Yorkshire LS29 9DY Operational Address (2): Carers and Companions The Arcade South Hawksworth Street Ilkley West Yorkshire LS29 9DY
Accountant and Company Secretary
Ms Jody Kendall ACA
Approved by the Board on 21[st] September 2022
Mr Graham Smith (Chair) Ilkley Community Enterprise Ltd
Acknowledgments
The work and achievements of the charity would not be possible without the advice, support and generosity of many individuals, groups and organsiations. We wish to express our thanks and appreciation for all those who support us.
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
The Trustees Ilkley Community Enterprise Ltd
Outside the Box
The Arcade South Hawksworth Street Ilkley West Yorkshire LS29 9DY T: 01943 431173 E: cafe@outsidetheboxcafe.com W: www.outsidetheboxcafe.com
Carers and Companion s The Arcade South Hawksworth Street Ilkley, West Yorkshire LS29 9DY T: 01943 609484 E: info@carersandcompanions.co.uk W: www.carersandcompanions.co.uk
Ilkley Community Enterprise Ltd Company number 08259045 Registered Charity Number 1151706
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
ACCOUNTANTS' REPORT TO ILKLEY COMMUNITY ENTERPRISE LIMITED ON THE UNAUDITED ACCOUNTS
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the FCCA.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the
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Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed
Date 29th September 2022
Michael Daly FCCA 103 The Gills Otley West Yorkshire LS21 2BY
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st DECEMBER 2021
| Income Donations and legacies Fundraising, Donations and Grants Donations from subsidiary Income from charitable activities Café and Choices Income from other trading activities Victorian Arcade Rental income Total Income Expenditure Costs of raising funds C & C Goodwill amortisation and write down Expenditure on charitable activities Operation of Café and Choices Total Expenditure Net income/(expenditure) and net movement in funds for the year Reconciliation of funds Total funds brought forward Transfer of funds Total Funds Carrried Forward |
2021 2020 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 148,952 74,575 223,527 357,590 49,698 - 49,698 19,039 197,967 - 197,967 171,795 1,667 - 1,667 19,139 |
|---|---|
| 398,284 74,575 472,859 567,563 |
|
| - - 36,041 378,758 128,311 507,069 499,387 |
|
| 378,758 128,311 507,069 535,428 |
|
| 19,526 (53,736) (34,210) 32,135 140,746 92,327 233,073 200,938 36,205 (36,205) |
|
| 196,477 2,386 198,863 233,073 |
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
BALANCE SHEET AS AT 31 DECEMBER 2021
| Non current assets Fixed assets Current assets Stock Cash at Bank and in hand Debtors Total Assets Current liabilities Deferred income (note 13) Current Liabilities (note 12) Net current assets Long Term Liabilities Net Assets Funds of the Charity Unrestricted Funds Restricted Funds |
£ £ £ £ 651,003 572,969 651,003 572,969 1,786 1,367 26,443 258,251 64,610 103,099 92,839 362,717 743,842 935,686 - (36,205) (79,018) (185,173) (79,018) (221,378) 664,824 714,308 465,961 481,235 198,863 233,073 196,477 140,746 2,386 92,327 198,863 233,073 2021 2020 |
|---|---|
| 196,477 2,386 |
|
The financial statements were approved by the board of trustees on Date: 21/09/2022 Signed: (Chair)
Name G Smith
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2020
1 Basis of Preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statatement 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. No restatement of prior year balances was required to bring the comparative figures in line with the accounting policies required by FRS 102 and the Charities SORP FRS 102.
The company is exempt from the preparation of a cashflow statement under FRS 102
The company is exempt from the preparation of consolidated accounts and an audit as the turnover of the combined entity is below £1million, as per the Charities Commission.
2 Accounting Policies
Going Concern
The Trustees have no material uncertainties that the Charity will not continue as a going concern.
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SoFA) when:
-
the charity becomes entitled to the resources;
-
the trustees are virtually certain they will receive the resources; and
-
the monetary value can be measured with sufficient reliability.
Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations
Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.
Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Contractual income and performance related grants
This is only included in the SoFA once the related goods or services have been delivered.
Gifts in kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.
Donated services and facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2020
2 Accounting Policies (continued)
Grants with performance conditions
Where the charity receives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the specified service or output has been met.
Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met.
Grants are released in line with the expenditure that meets the conditions of the grant. Where grants include the acquisition of fixed assets, the fixed assets arre written off fully in line with the grant release to the SOFA.
Members Income
Members are invoiced at the end of each month that they work, based on their contracted hours in the month.
Assets
Non current assets
Tangible assets are valued at cost or net realisable value and amortised over 3 years. Intangible assets are held at cost and amortised over 4 years.
Stocks and work in progress
These are valued at the lower of cost or net realisable value.
Legal status of the Charity
The Charity is a Charitable Company Limited by Guarantee.
Corporation Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Axt 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its chariable objects.
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2021
| 3 Income from charitable activities Café - Takings Members income All income for 2021 and 2020 is unrestricted. 4 Expenditure on charitable activities Café - Food & Drink OTB Members OTB Choices Green Hut Wages (inc PAYE and NI) CEO Rent and rates Promotion and website Insurance Gas and Electric Print postage and stationary Fixtures and fittings Professional fees Training Victorian Arcade expenses Depreciation Irrecoverable VAT Restricted spend |
2021 2020 £ £ |
|---|---|
| 34,818 35,172 163,149 136,623 |
|
| 197,967 171,795 |
|
| 2021 2020 £ £ |
|
| 9,235 11,140 - 567 9,945 4,741 390 351 129,789 88,519 25,412 12,782 39,819 26,844 278 2,510 3,012 2,750 3,767 8,529 3,413 3,532 2,936 1,356 2,280 8,094 510 608 10,458 97,191 95,415 69,911 42,099 14,202 128,311 145,760 |
|
| 507,069 499,387 |
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2021
| 5 Fees for examination or audit of the accounts Independent examiner’s or auditors' fees for reporting on the accounts 6 Paid Employees 6.1 Staff Costs Gross wages, salaries and benefits in kind Employer’s National Insurance costs Pension costs |
2021 2020 £ £ |
|---|---|
| - - 2021 2020 £ £ |
|
| 181,435 182,260 10,988 10,519 3,058 2,702 |
|
| 194,636 195,481 |
Auto enrolment date was 1st July 2017, at this time all staff were invited to join the NEST scheme, staff members above the required threshold were automatically enrolled. Staff and company contributions are 3% from 1st April 2019, previously 2%.
During this financial year the grants have been received in relation to the Coronavirus Job Support Scheme (CJRS). In this financial year £51,590 (2020: £64,013) has been claimed under this scheme. Grant claims have been recognised in line with the period to which the employees are furloughed. All shown within unrestricted funds
6.2 Average number of full-time equivalent employees in the year
The parts of the charity in which the employees work
| employees work | ||
|---|---|---|
| 2021 | 2020 | |
| Manager | 1 | 1 |
| Café | 2 | 3 |
| Members | 3 | 4 |
| Choices | 4 | 4 |
No employees had employee benefits in excess of £60,000. Highest paid employee earned £32,635 (2020 £40,332).
There has been no Trustee remuneration or any expense claims in this period or the prior period.
7 Fixed Assets
| Assets Brought Forward Additions Carried Forward Depreciation Brought Forward Depreciation Carried Forward Written down value 2021 Written down value 2020 |
Café fixtures and Fittings Office equipment Art Shop Total £ £ £ £ |
|---|---|
| 28,287 3,329 20,228 51,844 54,913 - - 54,913 |
|
| 83,200 3,329 20,228 106,757 27,682 3,329 19,645 50,656 19,447 - 583 20,030 |
|
| 47,129 3,329 20,228 70,686 36,071 - - 36,071 605 - 583 1,188 |
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2021
7 Fixed Assets ctd
Long Leasehold premises was acquired on the 5th October 2018. See note 9
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Victorian Arcade acquisisation value | 466,000 | 466,000 |
| Acquisition expenses capitalised | 5,956 | 5,956 |
| Renovation expenses capitalised 2020 | 163,356 | 163,356 |
| Renovation expenses capitalised 2021 | 118,536 | |
| 753,848 | 635,312 | |
| Cumulative Depreciation | 138,916 | 63,531 |
| The premises is valued at cost. Depreciated over 10 years. | ||
| Depreciation charge £75,385 (2020: £63,531). |
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2021
8 Transactions with Related Parties
A loan was entered into on 29th March 2016 with The Graham & Diane Smith Charitable Trust (1115178) for the sum of £40,000, the rate of interest was 5% per annum, paid quarterly.
During 2018 The Graham & Diane Smith Charitable Trust donated the £40,000 loan outstanding at the on condition that it was designated a restrictive fund to be used for purposes agreed with the Trustees of the Trust
This restricted fund was released from restrictions in 2021.
During 2018 the Charity entered into a new loan with the G and D Smith Charitable Trust see Note 11 for details.
9 Acquisition of Victorian Arcade
On the 5th October 2018 the Charity acquired the Victorian Arcade (South Hawksworth Street, Ilkley).
| Purchase price Charity Bank Loan Loan from the G & D Smith Charitable Trust |
£ |
|---|---|
| 466,000 266,000 200,000 |
|
| 466,000 |
The terms of the Charity Bank Loan, a 20 year loan at 3.5% above the B of E base rate, monthly repayments of capital and interest.
A condition of the loan is to hold £15,000 in a bank account at Charity bank, this is shown within current account.
Loan arrangement fee of £1,160 has been expensed in 2018.
The terms of the G & D Smith Charitable Trust Loan, at 4.5% above the B of E base rate. Interest accruing on the loan in the year is included in creditors at the year end.
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2021
10 Net income/(expenditure) for the year
| This is stated after charging Depreciation Bank Interest Payable |
2021 2020 £ £ |
|---|---|
| 94,832 69,911 9,059 9,930 |
|
| 103,891 79,841 |
11 Debtors
| 11 Debtors | |
|---|---|
| Members debtor Accrued income C&C donation |
2021 2020 £ £ |
| 20,757 11,151 13,773 76,567 30,080 15,381 |
|
| 64,610 103,099 |
12 Creditors: amounts falling due within one year
| Trade Creditors Tax and social security G&D Smith accrued interest Charity Bank Loan Nat West Loan |
2021 2020 £ £ |
|---|---|
| 43,615 148,552 7,106 8,079 7,700 7,525 9,949 10,369 10,648 10,648 |
|
| 79,018 185,173 |
13 Deferred income
| 13 Deferred income | |
|---|---|
| G&D Smith restricted fund (note 10) | 2021 2020 £ £ |
| 0 36,205 |
|
| 0 36,205 |
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Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2021
14 Creditors: amounts falling due after more than one year
| 14 Creditors: amounts falling due after more than one year | |
|---|---|
| Secured Charity Bank loan (falling due in less than 5 years) Nat West Loan (falling due in less than 5 years) Secured Charity Bank loan (falling due in more than 5 years) G&D Smith Trust unsecured loan |
2021 2020 £ £ |
| 50,010 45,298 34,028 39,352 181,923 196,585 200,000 200,000 |
|
| 465,961 481,235 |
The secured bank loan is secured on the Victorian Arcade property which has a carrying value of £466,000, the terms of the security provide for the lender to claim title to the property in the event of a default on principal and interest payments of more than 6 months in duration. Nat West Loan is a Bounce back loan for £50,000, the loan is Government backed. The Nat West bounce back loan repayments commenced in July 2021. The loan from the G&D Smith Trust is an unsecured loan. Default occurs if the loan is not repaid on the repayment date.
15 Analysis of Charitable funds
| Analysis of movement in unrestricted funds Opening unrestricted funds Movement in the year Closing unrestricted funds |
2021 2020 £ £ |
|---|---|
| 140,746 140,765 55,731 (19) |
|
| 196,477 140,746 |
22
Ilkley Community Enterprise Ltd Year Ended 31[st] December 2021
NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2021
16 Analysis of Charitable funds
Analysis of movement in restricted funds 2021
| Analysis of movement in restricted funds 2021 | |
|---|---|
| IGEN Trust BMDC G&D Smith restricted fund BMDC Infection control Devonshire Trust Lloyds Lloyds DCMS Community Match Challenge |
Opening Balance Income Expenses Transfer Closing Balance 0 17,100 (19,053) (1,953) 647 18,000 (14,308) 4,339 36,205 0 0 (36,205) 0 0 9,475 (9,475) 0 0 5,000 (5,000) 0 0 25,000 (25,000) 0 55,475 (55,475) 0 |
| 92,327 74,575 (128,311) (36,205) 2,386 |
Analysis of movement in restricted funds 2020
| IGEN Trust BMDC Skipton Building Society G&D Smith restricted fund European Social Fund CAF COVID 19 Neighbourly Clothworkers National Lottery Development Fund National Lottery C19 Fund Bailey Thomas CT Masonic Fund Lloyds DCMS Community Match Challenge |
Opening Balance Income Expenses Closing Balance 24,327 0 (24,327) 0 1,590 18,000 (18,943) 647 1,000 0 (1,000) 0 37,113 0 (908) 36,205 (3,857) 3,857 0 0 4,150 (4,150) 0 400 (400) 0 4,400 (4,400) 0 20,000 (20,000) 0 46,947 (46,947) 0 10,000 (10,000) 0 1,500 (1,500) 0 76,567 (21,092) 55,475 |
|---|---|
| 60,173 185,821 (153,667) 92,327 |
23