Charity Registration No. 1151930
Company Registration No. 08224725 (England and Wales)
WRIGHTS MEADOW CENTRE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
WRIGHTS MEADOW CENTRE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr P J Cartwright Mrs K Farmer Mr R Farmer Mr G Harmsworth Mr T Snaith
Committee
Committee Mr F Edwards President Mr G Card Chairman Mrs J Card Secretary Mrs K Farmer Treasurer Charity number 1151930 Company number 08224725 Registered office Wrights Meadow Road Wycombe Marsh High Wycombe Buckinghamshire United Kingdom HP11 1SQ Independent examiner Azets Audit Services The Mill House Boundary Road Loudwater High Wycombe Buckinghamshire United Kingdom HP10 9QN
WRIGHTS MEADOW CENTRE
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 17 |
WRIGHTS MEADOW CENTRE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2020
The trustees present their report and financial statements for the year ended 30 September 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's governing document, the Companies Act 2006 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 2019)".
Objectives and activities
The charitable company's objects are to further or benefit the residents of High Wycombe and the neighbourhood, without distinction of sex, sexual orientation, race, political, religious or other opinions and associate them together with local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities with the interest of social welfare for recreation leisure time. The objective is to improve the conditions of life for the residents . The policies adopted in furtherance of these objects are :
To establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects.
The charity's mission statement is to provide all members of our community access to a safe welcoming place to meet in friendship and enjoy recreation, exercise and learning.
T here has been no change in these during the year.
The aim of the charity is to help build and sustain a healthy community; provide affordable educational and recreational activities and to be financially sustainable and offer value for money quality facilities.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.
Achievements and performance
This year has been quite unusual and difficult for everybody. The Wrights Meadow Centre started the year with a busy diary of parties, events and hires but due to Covid-19 pandemic we were forced to close the centres doors in March of 2020 with the first national lockdown, with upcoming parties & events were cancelled.
When the first lockdown restrictions were lifted in July despite putting in place the Government Covid requirements for distancing and hygiene, the Government guidelines for community centres were so strict that it made it impossible for us to re-open. Our centre manager was in constant contact with Buckinghamshire Council reviewing alterations to Government guidance as it was announced.
In September we re-opened our doors for the first time since March for Anna Rose Dance, the centre bar billiards team to completed their season and also Friday evening bar opening. In October we re-introduced our Tuesday lunch club but unfortunately this only operated for 3 weeks before the Government tier system forced us to re close our doors again.
We have taken advantage of the closure to refurbish and decorate the complete centre using some of our reserves, so when we do eventually re-open the centre will be in prestige condition.
Ray Farmer Chairman
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WRIGHTS MEADOW CENTRE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
Financial review
The unrestricted funds are available to be spent on any of the purposes of the charity including repairs and improvements to the premises. Unrestricted funds at the year end are £171,422 (2019 restated: £161,171).
The charity has one restricted fund. This fund is the property (the community centre) in Wycombe Marsh and the assets held by the centre. Restricted funds at the year end are £498,269 (2019: £506,893).
Structure, governance and management
Wrights Meadow Centre (WMC) is controlled by its governing document and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charitable company is governed under Memorandum and Articles of Association incorporated on 21 September 2012, as amended by special resolution on 30 April 2013.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr P J Cartwright
Mrs K Farmer Mr R Farmer Mr G Harmsworth Mr T Snaith
The minimum number of trustees is two, there is not a maximum number. The first trustees are the people notified to Companies House and the Charity Commission on incorporation. The charity may appoint a person who is willing to act as a trustee by ordinary resolution and determine the rotation in which any additional trustees are to retire.
The trustees' r eport was approved by the Board of Trustees.
Mrs K Farmer
Trustee Dated: 4 March 2021
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WRIGHTS MEADOW CENTRE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WRIGHTS MEADOW CENTRE
I report to the trustees on my examination of the financial statements of Wrights Meadow Centre (the charitable company) for the year ended 30 September 2020.
Responsibilities and basis of report
As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charitable 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 the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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 that in any material respect:
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1 accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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
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4 the financial statements 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 financial statements to be reached.
Mr C J Nisbet FCA
Institute of Chartered Accountants in England & Wales
Azets Audit Services
The Mill House Boundary Road Loudwater High Wycombe Buckinghamshire HP10 9QN United Kingdom
Dated: 12 March 2021
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WRIGHTS MEADOW CENTRE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2020
| Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income and endowments from: Donations and legacies 2 11,390 3,500 Charitable activities 3 27,387 - Other trading activities 4 - - Investments 5 33,428 - Other income 100 - Total income 72,305 3,500 Expenditure on: Charitable activities 6 58,654 15,524 Net incoming/(outgoing) resources before transfers 13,651 (12,024) Gross transfers between funds (3,400) 3,400 Net income/(expenditure) for the year/ Net movement in funds 10,251 (8,624) Fund balances at 1 October 2019 As originally reported 194,496 506,893 Prior year adjustment (33,325) - As restated 161,171 506,893 Fund balances at 30 September 2020 171,422 498,269 |
As Total 2020 £ 14,890 27,387 - 33,428 100 75,805 74,178 1,627 - 1,627 701,389 (33,325) 668,064 669,691 |
restated Total 2019 £ 2,927 37,422 64 27,420 - 67,833 58,424 9,409 - 9,409 658,655 - 658,655 668,064 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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WRIGHTS MEADOW CENTRE
BALANCE SHEET
AS AT 30 SEPTEMBER 2020
| Notes Fixed assets Tangible assets 10 Investments 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Income funds Restricted funds 14 Unrestricted funds |
2020 £ 13,055 150,704 163,759 (8,015) |
£ 513,946 1 513,947 155,744 669,691 498,269 171,422 669,691 |
2019 as restated £ 9,148 164,897 174,045 (12,875) |
£ 506,893 1 506,894 161,170 668,064 506,893 161,171 668,064 |
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2020.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 4 March 2021
Mrs K Farmer Trustee
Company Registration No. 08224725
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
1 Accounting policies
Charity information
Wrights Meadow Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is Wright Meadow Road, Wycombe Marsh, HP11 1SQ, England.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Companies Act 2006 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 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charitable company. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. In making this assessment, the trustees have considered the impacts and expected future impacts of the Covid-19 pandemic on both the charity and the environment in which it operates. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
1.5 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.
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Fixtures and fittings Computers
Straight line over 50 years Straight line over 3 - 5 years Straight line over 5 years
1.7 Taxation
The charity is exempt from corporation tax on its charitable activities.
1.8 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9 Taxation
The charity is exempt from corporation tax on its charitable activities.
1.10 Government grants
Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met . Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable . A grant received before the recognition criteria are satisfied is recognised as a liability.
2 Donations and legacies
| Unrestricted Restricted funds funds 2020 2020 £ £ Donations and gifts 361 - Grants receivable 10,000 3,500 Membership fees 1,029 - 11,390 3,500 |
TotalUnrestricted funds 2020 2019 £ £ 361 832 13,500 - 1,029 2,095 14,890 2,927 |
|---|---|
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
| 2 Donations and legacies Grants receivable Marsh & Micklefield Big Local Buckinghamshire Council |
- 10,000 10,000 |
3,500 - 3,500 |
(Continued) 3,500 - 10,000 - 13,500 - |
|---|---|---|---|
In November 2019 the charity received a Community Investment Fund grant of £ 3 ,500 from Marsh and Micklefield Big Local to wards the air conditioning and refurbishment of the centre's kitchen .
In April 2020 the charity received a Small Business grant of £10,000 from Buckinghamshire Council due to the national lockdown.
3 Charitable activities
| Leisure events | Hire of the | Total | Total | |
|---|---|---|---|---|
| & activities | Centre | 2020 | 2019 | |
| 2020 | 2020 | |||
| £ | £ | £ | £ | |
| Amounts received | 2,030 | 25,357 | 27,387 | 37,422 |
4 Other trading activities
| Total | Unrestricted | ||
|---|---|---|---|
| funds | |||
| 2020 | 2019 | ||
| £ | £ | ||
| Fundraising events | - | 64 | |
| 5 | Investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Income from subsidiary company | 33,325 | 27,275 | |
| Interest receivable | 103 | 145 | |
| 33,428 | 27,420 |
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
6 Charitable activities
| Centre Events 2020 2020 £ £ Staff costs 13,755 - Depreciation 19,443 - Rates and water 699 - Insurance 2,018 - Light and heat 3,745 - Telephone 1,889 - Postage and stationery 423 - Sundries 3,204 - Licences 299 - Repairs and maintenance 25,099 - Event costs - 2,554 70,574 2,554 Share of governance costs (see note 7) 1,050 - 71,624 2,554 Analysis by fund Unrestricted funds 56,100 2,554 Restricted funds 15,524 - 71,624 2,554 For the year ended 30 September 2019 Unrestricted funds 35,717 5,013 Restricted funds 17,694 - 53,411 5,013 Support costs Support costs Governance costs £ £ Independent examiners fee - 1,050 - 1,050 Analysed between Charitable activities - 1,050 |
Total 2020 £ 13,755 19,443 699 2,018 3,745 1,889 423 3,204 299 25,099 2,554 73,128 1,050 74,178 58,654 15,524 74,178 2020 £ 1,050 1,050 1,050 |
Total 2019 £ 1,798 17,694 1,170 1,887 3,633 1,414 461 920 180 23,204 5,013 57,374 1,050 58,424 40,730 17,694 58,424 40,730 17,694 58,424 2019 £ 1,050 1,050 1,050 |
|---|---|---|
7 Support costs
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.
9 Employees
The average monthly number of employees during the year was:
| 2020 | 2019 | |
|---|---|---|
| Number | Number | |
| Centre Steward | 1 | 1 |
| Employment costs | 2020 | 2019 |
| £ | £ | |
| Wages and salaries | 13,205 | 1,798 |
| Other pension costs | 550 | - |
| 13,755 | 1,798 |
Wrights Meadow Centre employ a centre steward who also performs administration and bar duties for Wrights Meadow Social Limited. During the year ended 30 September 2020 £6,668 (2019: £nil) of wages were recharged to Wrights Meadow Social Limited.
There were no employees whose annual remuneration was £60,000 or more.
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
| 10 Tangible fixed assets Freehold land and buildings Fixtures and fittings Computers £ £ £ Cost At 1 October 2019 553,660 31,866 1,237 Additions - 25,561 935 Disposals - (99) - At 30 September 2020 553,660 57,328 2,172 Depreciation and impairment At 1 October 2019 55,366 24,257 247 Depreciation charged in the year 11,073 7,936 434 Eliminated in respect of disposals - (99) - At 30 September 2020 66,439 32,094 681 Carrying amount At 30 September 2020 487,221 25,234 1,491 At 30 September 2019 498,294 7,609 990 |
Total £ 586,763 26,496 (99) 613,160 79,870 19,443 (99) 99,214 513,946 506,893 |
|---|---|
11 Fixed asset investments
| Investment in | |
|---|---|
| Subsidiaries | |
| £ | |
| Cost or valuation | |
| At 1 October 2019 & 30 September 2020 | 1 |
| Carrying amount | |
| At 30 September 2020 | 1 |
| At 30 September 2019 | 1 |
Wrights Meadow Social Limited (company registration number: 10065640) is a 100% owned subsidiary of Wrights Meadow Centre. Its profits are to be distributed to the charity.
At the year ended 30 September 2020, its turnover and other income was £31,853 (2019: £68,078), expenditure £28,276 (2019: £34,753) and profit for the year was £3,577 (2019: £33,325).
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
| 12 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income 13 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Amounts owed to subsidiary undertakings Other creditors Accruals and deferred income |
2020 £ 10,844 2,211 13,055 2020 £ - 583 3,776 117 3,539 8,015 |
2019 £ 7,198 1,950 9,148 2019 £ 245 - 9,133 482 3,015 12,875 |
|---|---|---|
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
14 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | Resources | Transfers | Balance at |
Incoming | Resources | Transfers | Balance at | ||
| 1 | October 2018 | expended | 1 October 2019 | resources | expended | 30 September | |||
| 2020 | |||||||||
| £ | £ | £ | £ |
£ | £ | £ | £ |
||
| Construction & Admin of Centre | 516,303 | (17,694) | 8,284 | 506,893 |
3,500 | (15,524) | 3,400 | 498,269 |
The restricted fund is the building held by the centre. It also includes the original assets purchased to get the centre operational. In November 2019 a grant of £3,500 was received towards the air conditioning and refurbishment of the kitchen. The grant was used towards the air conditioning unit, a transfer of £3,400 from unrestricted funds was made towards the cost.
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
| 15 Analysis of net assets between funds Unrestricted funds Restricted funds 2020 2020 £ £ Fund balances at 30 September 2020 are represented by: Tangible assets 15,677 498,269 Investments 1 - Current assets/ (liabilities) 155,744 - 171,422 498,269 |
TotalUnrestricted funds Restricted funds 2020 2019 2019 £ £ £ 513,946 - 506,893 1 1 - 155,744 161,170 - 669,691 161,171 506,893 |
Total 2019 £ 506,893 1 161,170 668,064 |
|---|---|---|
16 Operating lease commitments
At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| Equipment Within one year Between two and five years |
2020 £ 3,436 9,186 12,622 |
2019 £ 730 - 730 |
|---|---|---|
17 Related party transactions
Transactions with related parties
During the year the charitable company entered into the following transactions with related parties:
T he following amounts were outstanding at the reporting end date:
| Amounts owed to | related | |
|---|---|---|
| parties | ||
| 2020 | 2019 | |
| £ | £ | |
| Wrights Meadow Social Ltd | 3,776 | 9,134 |
| - | - | |
| 3,776 | 9,134 |
During the year ended 30 September 2020, the charity received a distribution of £33,325 (2019: £27,275) from its subsidiary company Wrights Meadow Social Limited.
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
18 Post balance sheet events
The global COVID pandemic emerged during the year and continued after the balance sheet date of 3 0 September 2020, the impact can be seen in the statement of financial activities, the income from charitable activities decreased due to the temporary closure of the centre. The effects of the pandemic do not result in any adjustment being needed to the value of assets and liabilities at the balance sheet date.
The Trustees remain confident that they will be able to overcome the short-term operational difficulties that are affecting operations and as a consequence these accounts have been prepared on a going concern basis.
19 Prior year adjustment
The prior period adjustment is to remove the accrued income in respect of the gift aid payment from the trading subsidiary. This means that both the current year and the restated comparative figures exclude donated profits from the trading subsidiary that were not actually paid across to the charity until the following financial year.
Following on from the Triennial Review of FRS 102, the standard has been updated for periods beginning on or after 1 January 2019 to require that Gift Aid payments from a trading subsidiary to its parent charity to be treated as a distribution rather than an expense. In addition, FRS 102 now states that any such distribution should only be recogni s ed when it is actually paid unless a Deed of Covenant exists between the trading subsidiary and the parent charity that legally obliges the subsidiary to distribute all of its legally distributable taxable profits to its parent. At 3 0 September 2020, no Deed of Covenant existed between Wrights Meadow Centre and Wrights Meadow Social L imited and so distributions are therefore recognised on receipt and are not accrued for in the Financial Statements. In order to provide a consistent basis of financial reporting, a Prior Year Adjustment has been included in these accounts to reflect the position of the Charity had the change in treatment of gift aid distributions been applied in the Financial Statements for the year ended 3 0 September 2019.
The following pages show the changes in the Balance Sheet and Statement of Financial Activities.
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
Changes to the balance sheet
| At 30 September 2019 As previously reported Adjustment As £ £ Fixed assets Tangible assets 506,893 - Investments 1 - 506,894 - Current assets Debtors due within one year 33,340 (24,192) Bank and cash 164,897 - 198,237 (24,192) Creditors due within one year Taxation (245) - Other creditors (3,497) (9,133) 3,742 9,133 Net current assets 194,495 (33,325) Total assets less current liabilities 701,389 (33,325) Capital funds Income funds Restricted funds 506,893 - Unrestricted funds 194,496 (33,325) Total equity 701,389 (33,325) |
restated £ 506,893 1 506,894 9,148 164,897 174,045 (245) (12,630) 12,875 161,170 668,064 506,893 161,171 668,064 |
|---|---|
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020
WRIGHTS MEADOW CENTRE
Changes to the profit and loss account
| Period ended 30 September 2019 | Period ended 30 September 2019 | Period ended 30 September 2019 | |
|---|---|---|---|
| As previously | Adjustment | As | |
| reported | restated | ||
| £ | £ | £ | |
| Income from: | |||
| Donations and legacies | 36,252 | (6,050) | 30,202 |
| Charitable activities | 37,422 | - | 37,422 |
| Other trading activities | 64 | - | 64 |
| Investments | 145 | - | 145 |
| 73,883 | (6,050) | 67,833 | |
| Expenditure on: | |||
| Raising funds | - | - | - |
| Charitable activities | 58,424 | - | 58,424 |
| (58,424) | - | (58,424) | |
| Income/expenditure for the year | 15,459 | (6,050) | 9,409 |
| Net movement in funds | 15,459 | (6,050) | 9,409 |
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