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 2021
WRIGHTS MEADOW CENTRE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr P J Cartwright Mr R Farmer Mr G Harmsworth Mr T Snaith
Committee
Committee Mr F Edwards President Mr R Farmer Chairman Mr G Card Vice 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 Suites B & D Burnham Yard Beaconsfield Bucks HP9 2JH
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 - 13 |
WRIGHTS MEADOW CENTRE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2021
The trustees present their report and financial statements for the year ended 30 September 2021.
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
Again 2020 – 2021 we found ourselves caught up in the open / close position due to ongoing Covid 19 restrictions. This did cause us some financial losses with cancellations of parties and ongoing events but thanks to the centre manager and her diligence in applying for Government grants we managed to get through the worst of this.
As many of you will know the time the centre was closed allowed us to continue with our ongoing refurbishments, including painting of halls & kitchen, new TV, security cameras.
At the last AGM we had several new volunteers come forward which have been a great asset to the centre and thy have had some good input into how the centre can go forward in the coming months & years. One of the latest members has now been employed part time to assist the centre manager, mainly in the kitchen and catering area.
I would like to thank the trustees, committee and members for all of their help and support during a couple of difficult years.
Ray Farmer Chairman
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WRIGHTS MEADOW CENTRE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021
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 £162,077 (2020: £171,422).
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 £483,601 (2020: £498,269).
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 (Resigned 30 March 2022) 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: 25 May 2022
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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 2021.
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
Suites B & D Burnham Yard Beaconsfield Bucks HP9 2JH
Dated: 17 June 2022
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WRIGHTS MEADOW CENTRE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income and endowments from: Donations and legacies 2 19,877 - Charitable activities 3 27,022 - Investments 4 24 - Other income - - Total income 46,923 - Expenditure on: Charitable activities 5 56,268 14,668 Gross transfers between funds - - Net (expenditure)/income for the year/ Net movement in funds (9,345) (14,668) Fund balances at 1 October 2020 171,422 498,269 Fund balances at 30 September 2021 162,077 483,601 |
TotalUnrestricted Restricted funds funds 2021 2020 2020 £ £ £ 19,877 11,390 3,500 27,022 27,387 - 24 33,428 - - 100 - 46,923 72,305 3,500 70,936 58,654 15,524 - (3,400) 3,400 (24,013) 10,251 (8,624) 669,691 167,221 506,893 645,678 171,422 498,269 |
Total 2020 £ 14,890 27,387 33,428 100 75,805 74,178 - 1,627 668,064 669,691 |
|---|---|---|
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 2021
| Notes Fixed assets Tangible assets 9 Investments 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Income funds Restricted funds 13 Unrestricted funds |
2021 £ 18,347 138,984 157,331 (7,013) |
£ 495,359 1 495,360 150,318 645,678 483,601 162,077 645,678 |
2020 £ 13,055 150,704 163,759 (8,015) |
£ 513,946 1 513,947 155,744 669,691 498,269 171,422 669,691 |
|---|---|---|---|---|
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 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 25 May 2022
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 2021
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 2021
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
| UnrestrictedUnrestricted Restricted funds funds funds 2021 2020 2020 £ £ £ Donations and gifts 763 361 - Grants receivable 19,099 10,000 3,500 Membership fees 15 1,029 - 19,877 11,390 3,500 |
Total 2020 £ 361 13,500 1,029 14,890 |
|---|---|
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021
| 2 Donations and legacies Grants receivable Marsh & Micklefield Big Local Buckinghamshire Council - Covid Grant Buckinghamshire Council - Other Grant |
- 15,669 3,430 19,099 |
- 10,000 - 10,000 |
(Continued) 3,500 3,500 - 10,000 - - 3,500 13,500 |
|---|---|---|---|
In April 2020 the charity received a Small Business grant of £10,000 from Buckinghamshire Council due to the national lockdown.
In the period of November 2021 to April 2021 the charity received a Small Business grant totalling £19,099 from Buckinghamshire Council related to Covid 19 and other areas .
3 Charitable activities
| Leisure events | Hire of the | Total | Total | |
|---|---|---|---|---|
| & activities | Centre | 2021 | 2020 | |
| 2021 | 2021 | |||
| £ | £ | £ | £ | |
| Amounts received | - | 27,022 | 27,022 | 27,387 |
| Investments | ||||
| UnrestrictedUnrestricted | ||||
| funds | funds | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Income from subsidiary company | - | 33,325 | ||
| Interest receivable | 24 | 103 | ||
| 24 | 33,428 |
4 Investments
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021
5 Charitable activities
| Centre Events 2021 2021 £ £ Staff costs 15,127 - Depreciation 18,587 - Rates and water 853 - Insurance 2,291 - Light and heat 4,337 - Telephone 1,779 - Postage and stationery 492 - Sundries 3,770 - Licences 299 - Repairs and maintenance 21,147 - Event costs - 1,144 68,682 1,144 Share of governance costs (see note 6) 1,110 - 69,792 1,144 Analysis by fund Unrestricted funds 55,124 1,144 Restricted funds 14,668 - 69,792 1,144 For the year ended 30 September 2020 Unrestricted funds 56,100 2,554 Restricted funds 15,524 - 71,624 2,554 Support costs Support costs Governance costs £ £ Independent examiners fee - 1,110 - 1,110 Analysed between Charitable activities - 1,110 |
Total 2021 £ 15,127 18,587 853 2,291 4,337 1,779 492 3,770 299 21,147 1,144 69,826 1,110 70,936 56,268 14,668 70,936 2021 £ 1,110 1,110 1,110 |
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 58,654 15,524 74,178 2020 £ 1,050 1,050 1,050 |
|---|---|---|
6 Support costs
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.
8 Employees
The average monthly number of employees during the year was:
| Centre Steward Employment costs Wages and salaries Other pension costs |
2021 Number 1 2021 £ 14,525 602 15,127 |
2020 Number 1 2020 £ 13,205 550 13,755 |
|---|---|---|
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 2021 £7,262 (2020: £6,668) of wages were recharged to Wrights Meadow Social Limited.
There were no employees whose annual remuneration was £60,000 or more.
9 Tangible fixed assets
| Freehold land and buildings Fixtures and fittings Computers £ £ £ Cost At 1 October 2020 553,660 57,328 2,172 At 30 September 2021 553,660 57,328 2,172 Depreciation and impairment At 1 October 2020 66,439 32,094 682 Depreciation charged in the year 11,073 7,079 434 At 30 September 2021 77,512 39,173 1,116 Carrying amount At 30 September 2021 476,148 18,155 1,056 At 30 September 2020 487,221 25,234 1,491 |
Total £ 613,160 613,160 99,215 18,586 117,801 495,359 513,946 |
|---|---|
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021
10 Fixed asset investments
| Investment in | |
|---|---|
| Subsidiaries | |
| £ | |
| Cost or valuation | |
| At 1 October 2020 & 30 September 2021 | 1 |
| Carrying amount | |
| At 30 September 2021 | 1 |
| At 30 September 2020 | 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 2021, its turnover and other income was £16,058 (2020: £31,853), expenditure £20,167 (2020: £28,276) and losses for the year were £4,109 (2020: profits £3,577).
11 Debtors
| Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 12 Creditors: amounts falling due within one year Trade creditors Amounts owed to subsidiary undertakings Other creditors Accruals and deferred income |
2021 £ 3,252 12,731 2,364 18,347 2021 £ 1,595 - 120 5,298 7,013 |
2020 £ - 10,844 2,211 13,055 2020 £ 583 3,776 117 3,539 8,015 |
|---|---|---|
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021
13 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 | Incoming | Resources | Transfers | Balance at |
Resources | Balance at | |
| 1 October 2019 | resources | expended | 1 October 2020 | expended | 30 September | ||
| 2021 | |||||||
| £ | £ | £ | £ | £ |
£ | £ | |
| Construction | |||||||
| & Admin of | |||||||
| Centre | 506,893 | 3,500 | (15,524) | 3,400 | 498,269 |
(14,668) | 483,601 |
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.
14 Analysis of net assets between funds
| Unrestricted funds Restricted funds 2021 2021 £ £ Fund balances at 30 September 2021 are represented by: Tangible assets 11,758 483,601 Investments 1 - Current assets/ (liabilities) 150,318 - 162,077 483,601 |
TotalUnrestricted funds Restricted funds 2021 2020 2020 £ £ £ 495,359 15,677 498,269 1 1 - 150,318 155,744 - 645,678 171,422 498,269 |
Total 2020 £ 513,946 1 155,744 669,691 |
|---|---|---|
15 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 |
2021 £ 3,436 5,750 9,186 |
2020 £ 3,436 9,186 12,622 |
|---|---|---|
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WRIGHTS MEADOW CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021
16 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 | ||
| 2021 | 2020 | |
| £ | £ | |
| Wrights Meadow Social Ltd | - | 3,776 |
During the year ended 30 September 2021, the charity received a distribution of £Nil (2020: £33,325) from its subsidiary company Wrights Meadow Social Limited.
T he following amounts were outstanding at the reporting end date:
| Amounts owed by | related | Amounts owed by | related | |
|---|---|---|---|---|
| parties | parties | |||
| 2021 | 2020 | |||
| Balance | Net | Balance | Net | |
| £ | £ | £ | £ | |
| Wrights Meadow Social Ltd | 4,335 | 4,335 | - | - |
| 4,335 | 4,335 | - | - |
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