Charity Registration No. 1152260
Company Registration No. 08407295 (England and Wales)
LIFE CHURCH HOOK
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2021
LIFE CHURCH HOOK
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | David Hill |
|---|---|
| Thomas Colebrooke | |
| Peter MacPherson | |
| Nicola Hall | |
| Helen Wickenden | |
| Pastor | Ben Martin |
| Charity number | 1152260 |
| Company number | 08407295 |
| Principal address | Life Church Centre |
| Elms Road | |
| Hook | |
| Hampshire | |
| RG27 9DX | |
| Registered office | Life Church Centre |
| Elms Road | |
| Hook | |
| Hampshire | |
| RG27 9DX | |
| Independent examiner | Richard F Hopper |
| 4 Rhodfa Clawdd Offa | |
| Denbigh | |
| Denbighshire | |
| LL16 4RJ | |
| Bankers | CAF Bank Ltd |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ |
LIFE CHURCH HOOK
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of trustees' responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 16 |
LIFE CHURCH HOOK
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MAY 2021
The trustees present their report and accounts for the period ended 31 May 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 charity's constitution , 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 charity's objects are to advance the Christian faith and relieve poverty. The policies adopted in furtherance of these objects are to preach and proclaim the Christian gospel and the teaching of Christian doctrines and principles and there has been no change in these during the year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Life Church Hook continues to operate as a charitable limited company. We have continued to strengthen existing activities and develop new opportunities to communicate the Christian Faith and serve our local community. As the Covid-19 pandemic restrictions continued at various levels throughout 2020/21 we adapted our activities retaining some on-line while moving them to in-person when restrictions allowed.
The key activities of the church were adapted during the year as follows:
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regular Sunday meetings for Christian worship and teaching continued on-line via Zoom and live stream, however we began production from our church building in December 2020
-
small group meetings for Christian worship, prayer, teaching and discussion continued on-line via Zoom and in person in people's homes and outdoor spaces when permitted
-
a free confidential debt advice service called 'Junction 5 Money Advice' offering help with budgetting, creditor negotiation, understanding benefits entitlements and court proceedings continued in person or via Zoom dependent upon individual's preference
-
a foodbank providing free emergency food parcels to families and individuals in the local area identified through our own activities or referred from other organisations and professionals continued throughout the pandemic
-
a parent and toddler group, Little Seeds, re-started initially with pre-booking and restricted numbers attending
Our church attendance levels have remained fairly level throughout the pandemic as have our income levels. Some additional costs were incurred as we adapted to on-line meetings, however there were also some savings made.
Financial review
The financial transactions of the charity during the period and the financial position at the end of the period are summarised in the attached accounts. The trustees consider the financial position to be satisfactory.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a company limited by guarantee formed on 18 February 2013 .
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LIFE CHURCH HOOK
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
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:
David Hill
Thomas Colebrooke Peter MacPherson Nicola Hall Helen Wickenden
New trustees are appointed from fellow Christians who are members of the church, by recommendation and invitation as appropriate.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The church is served by trustees who are responsible for the administration of financial affairs and material assets and governance of the charity, and by elders who are responsible for the teaching, pastoral care and other activities of the church. The trustees and elders work closely together in pursuing the objects of the charity. Day by day decisions on expenditure and departmental matters are taken by the staff and volunteers who have been given responsibility for these areas under the direction and oversight of the elders and trustees. In April 2020 David Grant resigned as an elder and pastor of the church and left our employment; Ben Martin has taken his place since May 2020.
The church is a part of the Commission network which itself belongs to Newfrontiers International Network of churches, and is also a member of The Evangelical Alliance.
The trustees' r eport was approved by the Board of Trustees.
..............................
David Hill Trustee Dated: .........................
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LIFE CHURCH HOOK
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 MAY 2021
The trustees, who are also the directors of Life Church Hook for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these 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;
-
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 operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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 for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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LIFE CHURCH HOOK
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIFE CHURCH HOOK
I report to the trustees on my examination of the financial statements of Life Church Hook (the charity) for the year ended 31 May 2021.
Responsibilities and basis of report
As the trustees of the charity (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 charity 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 charity’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 charity 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.
Richard F Hopper
Chartered Accountant
4 Rhodfa Clawdd Offa Denbigh Denbighshire LL16 4RJ
Dated: .........................
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LIFE CHURCH HOOK
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2021
| Unrestricted Restricted funds funds Notes £ £ Income and endowments from: Donations and legacies 3 102,271 6,063 Lettings income 4 394 - Investments 5 15 - Other income 6 - 131 Total income 102,680 6,194 Expenditure on: Charitable activities 7 72,209 5,940 Other Expenses 12 10,091 - Total resources expended 82,300 5,940 Net incoming resources before transfers 20,380 254 Gross transfers between funds 742 (742) Net income/(expenditure) for the year/ Net movement in funds 21,122 (488) Fund balances at 1 June 2020 233,935 447,407 Fund balances at 31 May 2021 255,057 446,919 |
Total 2021 £ 108,334 394 15 131 108,874 78,149 10,091 88,240 20,634 - 20,634 681,342 701,976 |
Total 2020 £ 111,178 1,715 55 2,792 |
|---|---|---|
| 115,740 | ||
| 96,191 | ||
| 10,542 | ||
| 106,733 | ||
| 9,007 - |
||
| 9,007 672,336 |
||
| 681,343 |
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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LIFE CHURCH HOOK
BALANCE SHEET
AS AT 31 MAY 2021
| Notes Fixed assets Tangible assets 13 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Net assets Income funds Restricted funds 19 Unrestricted funds |
2021 £ £ 934,321 13,480 41,282 54,762 (19,605) 35,157 969,478 (267,502) 701,976 446,919 255,057 701,976 |
2020 £ £ 931,154 13,073 35,343 48,416 (17,103) 31,313 962,467 (281,124) 681,343 447,407 233,936 681,343 |
|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 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 .........................
.............................. .............................. David Hill Thomas Colebrooke Trustee Trustee
Company Registration No. 08407295
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LIFE CHURCH HOOK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
1 Accounting policies
Charity information
Life Church Hook is a private company limited by guarantee incorporated in England and Wales. The registered office is Life Church Centre, Elms Road, Hook, Hampshire, RG27 9DX.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's constitution, 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 charity is a Public Benefit Entity as defined by FRS 102.
The charity 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 charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 charity has adequate resources to continue in operational existence for the foreseeable future. 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 Incoming resources
Income is recognised when the charity 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.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Resources expended
Expenditure is charged in the accounts at the time when a liability to make payment is incurred.
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LIFE CHURCH HOOK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 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:
Land and buildings Plant and machinery 25% p.a. on net value
No depreciation is provided in respect of freehold land. Freehold buildings are not depreciated because the trustees consider that the market value of the buildings is not less than their cost.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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LIFE CHURCH HOOK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted Restricted funds funds 2021 2021 £ £ Donations and gifts 102,271 5,743 Grant income - 320 102,271 6,063 |
TotalUnrestricted Restricted funds funds 2021 2020 2020 £ £ £ 108,014 104,712 5,966 320 - 500 108,334 104,712 6,466 |
Total 2020 £ 110,678 500 111,178 |
|---|---|---|
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LIFE CHURCH HOOK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
4 Lettings income
| Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Letting and licensing arrangements | 394 | 1,715 | |||
| 5 | Investments | ||||
| Unrestricted | Unrestricted | ||||
| funds | funds | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Interest receivable | 15 | 55 | |||
| 6 | Other income | ||||
| Restricted | Unrestricted | Restricted |
Total | ||
| funds | funds | funds |
|||
| 2021 | 2020 | 2020 |
2020 | ||
| £ | £ | £ |
£ | ||
| Youth activities income | 131 | 33 | 113 |
146 | |
| Other activities income | - | 2,646 | - |
2,646 | |
| 131 | 2,679 | 113 |
2,792 |
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LIFE CHURCH HOOK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
7 Charitable activities
| Church | Church | |
|---|---|---|
| activities | activities | |
| 2021 | 2020 | |
| £ | £ | |
| Staff costs | 39,226 | 49,338 |
| Church activities | 13,356 | 12,149 |
| 52,582 | 61,487 | |
| Grant funding of activities (see note 8) | 11,309 | 12,774 |
| Share of support costs (see note 9) | 13,537 | 21,227 |
| Share of governance costs (see note 9) | 721 | 703 |
| 78,149 | 96,191 | |
| Analysis by fund | ||
| Unrestricted funds | 72,209 | 89,894 |
| Restricted funds | 5,940 | 6,297 |
| 78,149 | 96,191 | |
| For the year ended 31 May 2020 | ||
| Unrestricted funds | 89,894 | |
| Restricted funds | 6,297 | |
| 96,191 |
8 Grants payable
| Church | Church | |
|---|---|---|
| activities | activities | |
| 2021 | 2020 | |
| £ | £ | |
| Grants to institutions: | ||
| Other | 10,870 | 10,863 |
| Grants to individuals | 439 | 1,911 |
| 11,309 | 12,774 |
-
11 -
LIFE CHURCH HOOK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
9 Support costs
| Support costs Governance costs £ £ Depreciation 2,187 - Premises and equipment costs 6,944 - Administrative expenses 4,406 - Accountancy - 708 Other governance costs - 13 13,537 721 Analysed between Charitable activities 13,537 721 |
2021 Support costs Governance costs £ £ £ 2,187 919 - 6,944 17,398 - 4,406 2,910 - 708 - 690 13 - 13 14,258 21,227 703 14,258 21,227 703 |
2020 £ 919 17,398 2,910 690 13 21,930 21,930 |
|---|---|---|
Governance costs includes payments to the independent examiner of £ 708 ( 2017: £ 670 for independent examination and accountancy fees.
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or reimbursement of expenses during the period .
11 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| Church activities | 1 | 1 |
| Administration | 1 | 1 |
| Total | 2 | 2 |
| Employment costs | 2021 | 2020 |
| £ | £ | |
| Wages and salaries | 36,439 | 46,242 |
| Other pension costs | 2,787 | 3,096 |
| 39,226 | 49,338 |
There were no employees whose annual remuneration was more than £60,000.
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LIFE CHURCH HOOK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
12 Other Expenses
| Financing costs 13 Tangible fixed assets Cost At 1 June 2020 Additions Disposals At 31 May 2021 Depreciation and impairment At 1 June 2020 Depreciation charged in the year Eliminated in respect of disposals At 31 May 2021 Carrying amount At 31 May 2021 At 31 May 2020 14 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income |
UnrestrictedUnrestricted funds funds 2021 2020 10,091 10,542 10,091 10,542 Land and buildings Equipment Total £ £ £ 928,387 21,699 950,086 - 5,355 5,355 - (2,504) (2,504) 928,387 24,550 952,937 - 18,933 18,933 - 2,187 2,187 - (2,504) (2,504) - 18,616 18,616 928,387 5,934 934,321 928,387 2,767 931,154 2021 2020 £ £ 7,084 6,661 6,396 6,412 13,480 13,073 |
|---|---|
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LIFE CHURCH HOOK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
| 15 Loans and overdrafts Bank overdrafts Bank loans Payable within one year Payable after one year |
2021 £ 2,304 281,139 283,443 15,941 267,502 |
2020 £ - 294,294 294,294 13,170 281,124 |
|---|---|---|
The loan is secured by a fixed charge over the Life Church Centre building.
The loan is for a period of 21 years with interest payable at 2.5% above base-rate with a minimum rate of 3.5%.
16 Creditors: amounts falling due within one year
| Notes Bank loans and overdrafts 15 Other taxation and social security Deferred income 18 Accruals and deferred income 17 Creditors: amounts falling due after more than one year Notes Bank loans 15 18 Deferred income Other deferred income |
2021 £ 15,941 - 2,856 808 19,605 2021 £ 267,502 2021 £ 2,856 |
2020 £ 13,170 146 3,014 773 17,103 2020 £ 281,124 2020 £ 3,014 |
|---|---|---|
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LIFE CHURCH HOOK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
19 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 Balance at 1 June 2019 Incoming resources Resources expended Balance at 1 June 2020 £ £ £ £ Building Fund 441,723 - - 441,723 J5 Fund 4,346 5,772 (5,257) 4,861 Little Seeds Fund 427 113 (459) 81 Other restricted funds 629 694 (581) 742 447,125 6,579 (6,297) 447,407 |
Movement in funds Incoming resources Resources expended £ £ - - 6,062 (5,939) 131 - - - 6,193 (5,939) |
Transfers Balance at 31 May 2021 £ £ - 441,723 - 4,984 - 212 (742) - (742) 446,919 |
|---|---|---|
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LIFE CHURCH HOOK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
| 20 | Analysis of net assets | between funds | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
| funds | funds | funds | funds | ||||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | ||
| £ | £ | £ | £ | £ | £ | ||
| Fund balances at 31 | |||||||
| May 2021 are | |||||||
| represented by: | |||||||
| Tangible assets | 492,238 | 442,083 | 934,321 | 489,147 | 442,007 | 931,154 | |
| Current assets/ | |||||||
| (liabilities) | 30,321 | 4,836 | 35,157 | 25,912 | 5,401 | 31,313 | |
| Long term liabilities | (267,502) | - | (267,502) | (281,124) |
- | (281,124) | |
| 255,057 | 446,919 | 701,976 | 233,935 | 447,408 | 681,343 |
21 Related party transactions
There were no disclosable related party transactions during the year (2020 - none) .
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