**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:
- 1 accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 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
- 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
- 3 -
## **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|**Total**Unrestricted
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.
- 4 -
## **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**
- 5 -
## **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.
- 6 -
## **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**
|**Unrestricted**Unrestricted
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|
|---|---|
- 7 -
## **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**|||||
|||**Unrestricted**Unrestricted|||
||||**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|
|---|---|
- 10 -
## **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|**Total**Unrestricted
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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