REGISTERED CHARITY NUMBER: 1153370
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2022
for
Fusion Health and Well Being
Haines Watts, Chartered Accountants 117 - 119 Cleethorpe Road Grimsby North East Lincs DN31 3ET
Fusion Health and Well Being
Contents of the Financial Statements for the Year Ended 31 August 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
Fusion Health and Well Being
Report of the Trustees for the Year Ended 31 August 2022
The trustees present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of 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
Objectives and aims
To promote and encourage health related activities to the community using boxing and fitness recreation.
To use sport and recreational activities to help promote health and well-being and help with both personal issues and various community issues such as anti- social behaviour.
Provide a safe environment for children, young people and adults to participate in sport and health related recreational activity that promote well-being, social interaction within the community.
Attendance at the charity's meetings by trustees has been mainly via electronic video call, to ensure the charity runs appropriately and in accordance to the Charity Commission guidance, on public benefit.
ACHIEVEMENT AND PERFORMANCE
A much further increase in participants, who do much more of the activities being offered.
The organisation has set out a 4 phase business plan to grow the organisation's facilities and members, Phase 1 of the plan has completed for an extension to the gym. Phase 2 of the plan which was to add more hireable rooms to increase activity has also been complete.
The organisation has been successful in running Outreach Programs to further enhance our main aims, which support a reduction in anti- social behaviour and other community issues.
The addition of new volunteers and coaches to support the new activities as well as an apprenticeship program. Service delivery to Local Community Groups and alternative ongoing provisions to schools.
An ongoing and successful Disability Project.
Fusion held successful amateur boxing events along with successful funding campaigns.
FINANCIAL REVIEW
Principal funding sources
The main source of income for this financial year has been from Grants.
All expenditure spent is on items for our service, which supports our key objective to promote health and well being.
Reserves policy
We aim to have no less than three months running costs in reserve, which has now increased.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The CIO is controlled by its governing document, a deed of trust and constitutes a charitable incorporated organisation.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1153370
Page 1
Fusion Health and Well Being
Report of the Trustees
for the Year Ended 31 August 2022
Principal address
The Fusion Centre Ladysmith Road Grimsby North East Lincs DN32 9SW
Trustees
Mrs D Scotter Trustee Mrs S Snell Trustee A Johnston Chair Ms C Welch Trustee C Knight Trustee M Cullum Trustee (appointed 26.5.22)
Independent Examiner Mark Stothard FCA Haines Watts, Chartered Accountants 117 - 119 Cleethorpe Road Grimsby North East Lincs DN31 3ET
Approved by order of the board of trustees on 8 March 2023 and signed on its behalf by:
A Johnston - Trustee
Page 2
Independent Examiner's Report to the Trustees of Fusion Health and Well Being
Independent examiner's report to the trustees of Fusion Health and Well Being
I report to the charity trustees on my examination of the accounts of Fusion Health and Well Being (the Trust) for the year ended 31 August 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 accounts to be reached.
Mark Stothard FCA Haines Watts, Chartered Accountants 117 - 119 Cleethorpe Road Grimsby North East Lincs DN31 3ET
8 March 2023
Page 3
Fusion Health and Well Being
Statement of Financial Activities for the Year Ended 31 August 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 43,372 Other trading activities 2 12,900 Other income 51,716 Total 107,988 EXPENDITURE ON Charitable activities Cost of charitable activities 66,483 NET INCOME 41,505 RECONCILIATION OF FUNDS Total funds brought forward 30,955 TOTAL FUNDS CARRIED FORWARD 72,460 |
Restricted funds £ 125,447 - - 125,447 98,205 27,242 176,940 204,182 |
31.8.22 Total funds £ 168,819 12,900 51,716 233,435 164,688 68,747 207,895 276,642 |
31.8.21 Total funds £ 209,851 12,542 54,698 |
|---|---|---|---|
| 277,091 | |||
| 129,509 | |||
| 147,582 60,313 |
|||
| 207,895 |
The notes form part of these financial statements
Page 4
Fusion Health and Well Being
Balance Sheet
31 August 2022
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 6 44,611 CURRENT ASSETS Debtors 7 2,414 Cash at bank and in hand 29,040 31,454 CREDITORS Amounts falling due within one year 8 (3,605) NET CURRENT ASSETS 27,849 TOTAL ASSETS LESS CURRENT LIABILITIES 72,460 NET ASSETS 72,460 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 189,098 - 15,084 15,084 - 15,084 204,182 204,182 |
31.8.22 Total funds £ 233,709 2,414 44,124 46,538 (3,605) 42,933 276,642 276,642 72,460 204,182 276,642 |
31.8.21 Total funds £ 133,070 1,330 78,557 79,887 (5,062) 74,825 207,895 207,895 30,955 176,940 207,895 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8 March 2023 and were signed on its behalf by:
A Johnston - Trustee
The notes form part of these financial statements
Page 5
Fusion Health and Well Being
Notes to the Financial Statements
for the Year Ended 31 August 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The financial Reporting Standard applicable in the UK and Republic of Ireland":
-The requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Improvements to property | - | Straight line over 20 years |
|---|---|---|
| Plant and machinery | - | 20% on cost |
| Fixtures and fittings | - | 20% on cost |
| Motor vehicles | - | 20% on cost |
| Computer equipment | - | 20% on cost |
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 6
Fusion Health and Well Being
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.8.22 | 31.8.21 | |
| £ | £ | |
| Fundraising events | 12,900 | 12,542 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
Support and training staff |
31.8.22 5 |
31.8.21 5 |
|---|---|---|
No employees received emoluments in excess of £60,000.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 22,679 Other trading activities 12,542 Other income 54,698 Total 89,919 EXPENDITURE ON Charitable activities Cost of charitable activities 89,447 NET INCOME 472 Transfers between funds (35) Net movement in funds 437 RECONCILIATION OF FUNDS Total funds brought forward 30,519 TOTAL FUNDS CARRIED FORWARD 30,956 |
Restricted funds £ 187,172 - - 187,172 40,062 147,110 35 147,145 29,794 176,939 |
Total funds £ 209,851 12,542 54,698 |
|---|---|---|
| 277,091 | ||
| 129,509 | ||
| 147,582 - |
||
| 147,582 60,313 |
||
| 207,895 |
continued...
Page 7
Fusion Health and Well Being
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
6. TANGIBLE FIXED ASSETS
| Improvements to property £ COST At 1 September 2021 121,655 Additions 82,078 Disposals - At 31 August 2022 203,733 DEPRECIATION At 1 September 2021 6,083 Charge for year 8,538 Eliminated on disposal - At 31 August 2022 14,621 NET BOOK VALUE At 31 August 2022 189,112 At 31 August 2021 115,572 Motor vehicles £ COST At 1 September 2021 7,995 Additions 27,990 Disposals (5,495) At 31 August 2022 30,490 DEPRECIATION At 1 September 2021 3,464 Charge for year 4,398 Eliminated on disposal (4,396) At 31 August 2022 3,466 NET BOOK VALUE At 31 August 2022 27,024 At 31 August 2021 4,531 |
Plant and machinery £ 23,401 7,260 - 30,661 14,698 3,768 - 18,466 12,195 8,703 Computer equipment £ 802 449 - 1,251 283 213 - 496 755 519 |
Fixtures and fittings £ 10,004 2,812 - 12,816 6,259 1,934 - 8,193 4,623 3,745 Totals £ 163,857 120,589 (5,495) 278,951 30,787 18,851 (4,396) 45,242 233,709 133,070 |
|---|---|---|
continued...
Page 8
Fusion Health and Well Being
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Trade debtors | 1,180 | 753 | |
| Prepayments | 1,234 | 577 | |
| 2,414 | 1,330 | ||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Taxation and social security | 1,807 | 3,131 | |
| Other creditors | 1,798 | 1,931 | |
| 3,605 | 5,062 |
continued...
Page 9
Fusion Health and Well Being
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. MOVEMENT IN FUNDS
| Unrestricted funds General fund Crime reduction fund Sports England North East Lincolnshire Council SPORTED Allianz Sports Fund Power to Change Restricted funds Big lottery fund Crime reduction funding Power to change CERT Foundation Magic little grant Groundwork UK Main grants lottery award National lottery England boxing Children In Need FCC Communities TOTAL FUNDS |
At 1.9.21 £ 9,754 2,858 5,920 839 358 - 11,226 30,955 29,766 3,680 112,073 13,288 500 4 6,655 10,974 - - - 176,940 207,895 |
Net movement in funds £ 45,990 (500) 6,988 11 (158) 400 (11,226) 41,505 (15,288) (3,680) (23,470) 5,358 - (4) (6,655) (10,836) 167 25,191 56,459 27,242 68,747 |
At 31.8.22 £ 55,744 2,358 12,908 850 200 400 - 72,460 14,478 - 88,603 18,646 500 - - 138 167 25,191 56,459 204,182 276,642 |
|---|---|---|---|
continued...
Page 10
Fusion Health and Well Being
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Crime reduction fund Sports England North East Lincolnshire Council SPORTED Allianz Sports Fund Power to Change Restricted funds Big lottery fund Crime reduction funding Power to change CERT Foundation Groundwork UK Main grants lottery award National lottery England boxing Children In Need FCC Communities TOTAL FUNDS |
Incoming resources £ 94,728 - 11,060 - 200 2,000 - 107,988 32,003 - - 7,500 - - - 1,000 28,485 56,459 125,447 233,435 |
Resources Movement expended in funds £ £ (48,738) 45,990 (500) (500) (4,072) 6,988 11 11 (358) (158) (1,600) 400 (11,226) (11,226) (66,483) 41,505 (47,291) (15,288) (3,680) (3,680) (23,470) (23,470) (2,142) 5,358 (4) (4) (6,655) (6,655) (10,836) (10,836) (833) 167 (3,294) 25,191 - 56,459 (98,205) 27,242 (164,688) 68,747 |
|---|---|---|
continued...
Page 11
Fusion Health and Well Being
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Crime reduction fund Sports England North East Lincolnshire Council SPORTED Power to Change Restricted funds Big lottery fund Crime reduction funding Power to change CERT Foundation Magic little grant Groundwork UK Main grants lottery award The tribune trust National lottery TOTAL FUNDS |
At 1.9.20 £ 17,949 - 1,344 - - 11,226 30,519 11,320 - - 7,500 - - - - 10,974 29,794 60,313 |
Net movement in funds £ (8,160) 2,858 4,576 839 358 - 471 18,446 3,680 112,073 5,788 500 4 6,655 (35) - 147,111 147,582 |
Transfers between funds £ (35) - - - - - (35) - - - - - - - 35 - 35 - |
At 31.8.21 £ 9,754 2,858 5,920 839 358 11,226 30,955 29,766 3,680 112,073 13,288 500 4 6,655 - 10,974 176,940 207,895 |
|---|---|---|---|---|
continued...
Page 12
Fusion Health and Well Being
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Crime reduction fund Sports England North East Lincolnshire Council SPORTED Coronavirus business support grant CJRS scheme grants Restricted funds Big lottery fund Crime reduction funding Power to change CERT Foundation Magic little grant Groundwork UK Buisness support or consultation Main grants lottery award The tribune trust TOTAL FUNDS |
Incoming resources £ 42,832 6,200 9,699 5,002 1,000 17,598 7,588 89,919 20,140 5,520 132,101 8,930 500 999 8,000 9,982 1,000 187,172 277,091 |
Resources Movement expended in funds £ £ (50,992) (8,160) (3,342) 2,858 (5,123) 4,576 (4,163) 839 (642) 358 (17,598) - (7,588) - (89,448) 471 (1,694) 18,446 (1,840) 3,680 (20,028) 112,073 (3,142) 5,788 - 500 (995) 4 (8,000) - (3,327) 6,655 (1,035) (35) (40,061) 147,111 (129,509) 147,582 |
|---|---|---|
continued...
Page 13
Fusion Health and Well Being
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Crime reduction fund Sports England North East Lincolnshire Council SPORTED Allianz Sports Fund Power to Change Restricted funds Big lottery fund Power to change CERT Foundation Magic little grant The tribune trust National lottery England boxing Children In Need FCC Communities TOTAL FUNDS |
At 1.9.20 £ 17,949 - 1,344 - - - 11,226 30,519 11,320 - 7,500 - - 10,974 - - - 29,794 60,313 |
Net movement in funds £ 37,830 2,358 11,564 850 200 400 (11,226) 41,976 3,158 88,603 11,146 500 (35) (10,836) 167 25,191 56,459 174,353 216,329 |
Transfers between funds £ (35) - - - - - - (35) - - - - 35 - - - - 35 - |
At 31.8.22 £ 55,744 2,358 12,908 850 200 400 - 72,460 14,478 88,603 18,646 500 - 138 167 25,191 56,459 204,182 276,642 |
|---|---|---|---|---|
continued...
Page 14
Fusion Health and Well Being
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Crime reduction fund Sports England North East Lincolnshire Council SPORTED Coronavirus business support grant CJRS scheme grants Allianz Sports Fund Power to Change Restricted funds Big lottery fund Crime reduction funding Power to change CERT Foundation Magic little grant Groundwork UK Buisness support or consultation Main grants lottery award The tribune trust National lottery England boxing Children In Need FCC Communities TOTAL FUNDS |
Incoming resources £ 137,560 6,200 20,759 5,002 1,200 17,598 7,588 2,000 - 197,907 52,143 5,520 132,101 16,430 500 999 8,000 9,982 1,000 - 1,000 28,485 56,459 312,619 510,526 |
Resources Movement expended in funds £ £ (99,730) 37,830 (3,842) 2,358 (9,195) 11,564 (4,152) 850 (1,000) 200 (17,598) - (7,588) - (1,600) 400 (11,226) (11,226) (155,931) 41,976 (48,985) 3,158 (5,520) - (43,498) 88,603 (5,284) 11,146 - 500 (999) - (8,000) - (9,982) - (1,035) (35) (10,836) (10,836) (833) 167 (3,294) 25,191 - 56,459 (138,266) 174,353 (294,197) 216,329 |
|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2022.
Page 15
Fusion Health and Well Being
Detailed Statement of Financial Activities for the Year Ended 31 August 2022
| Detailed Statement of Financial Activities for the Year Ended 31 August 2022 |
||
|---|---|---|
| 31.8.22 | 31.8.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 110 | 779 |
| Grants | 168,709 | 209,072 |
| 168,819 | 209,851 | |
| Other trading activities | ||
| Fundraising events | 12,900 | 12,542 |
| Other income | ||
| Session fees | 38,556 | 21,195 |
| Rent received | 9,462 | 5,955 |
| Hub income | 3,698 | 2,362 |
| Covid business support grants | - | 17,598 |
| Job retention scheme grants | - | 7,588 |
| 51,716 | 54,698 | |
| Total incoming resources | 233,435 | 277,091 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 98,561 | 80,554 |
| Social security | 4,044 | 1,205 |
| Insurance | 3,738 | 4,340 |
| Telephone | 652 | 522 |
| Post,stationary and adverts | 3,978 | 2,757 |
| Sundries | 3,774 | 119 |
| Registration fees | 1,035 | 1,712 |
| Refreshments | 2,434 | 1,302 |
| Shows and presentations | 2,331 | 100 |
| Motor and travelling | 4,309 | 713 |
| Rent, rates and water rates | 260 | 47 |
| Clothing | 4,828 | 4,817 |
| Equipment | 952 | 1,980 |
| Repairs and renewals | 6,730 | 4,619 |
| Website and computer costs | 4,458 | 550 |
| Accountancy fees | 1,800 | 1,932 |
| Training and consultancy costs | 4,354 | 9,634 |
| Improvements to property | 8,538 | 6,083 |
| Plant and machinery | 3,768 | 2,947 |
| Fixtures and fittings | 1,934 | 1,643 |
| Motor vehicles | 4,398 | 1,266 |
| Computer equipment | 213 | 667 |
| Profit on sale of fixed assets | (2,401) | - |
| 164,688 | 129,509 |
This page does not form part of the statutory financial statements
Page 16
Fusion Health and Well Being
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 August 2022 | ||
| 31.8.22 | 31.8.21 | |
| £ | £ | |
| Total resources expended | 164,688 | 129,509 |
| Net income | 68,747 | 147,582 |
This page does not form part of the statutory financial statements
Page 17