REGISTERED COMPANY NUMBER: 07164108 (England and Wales) REGISTERED CHARITY NUMBER:
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 28 February 2023
for
George Ward Centre Limited
Geoff Cowley & Co Ltd Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
George Ward Centre Limited
Contents of the Financial Statements for the Year Ended 28 February 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | to | 5 |
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
George Ward Centre Limited
Report of the Trustees for the Year Ended 28 February 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2023. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07164108 (England and Wales)
Registered Charity number
Registered office
George Ward Centre Church Lane Barwell Leicestershire LE9 8DG
Trustees
K Barsby M Pratt Mrs D E Jenkinson Rev P Watson
Company Secretary
Independent Examiner
Geoff Cowley & Co Ltd Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
...................................................................... M Pratt - Trustee
Page 1
Independent Examiner's Report to the Trustees of George Ward Centre Limited
Independent examiner's report to the trustees of George Ward Centre Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts 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
-
the accounts 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 accounts to be reached.
David Preston
Geoff Cowley & Co Ltd Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
Date: .............................................
Page 2
George Ward Centre Limited
Statement of Financial Activities for the Year Ended 28 February 2023
| 28.2.23 | 28.2.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2,809 | 1,101 | |
| Charitable activities | |||
| HBBC Grant | 5,650 | 19,143 | |
| Other trading activities | 2 | 67,274 | 49,799 |
| Investment income | 3 | 77 | 2 |
| Total | 75,810 | 70,045 | |
| EXPENDITURE ON | |||
| Raising funds | 4 | 83,986 | 67,037 |
| NET INCOME/(EXPENDITURE) | (8,176) | 3,008 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 49,230 | 46,222 | |
| TOTAL FUNDS CARRIED FORWARD | 41,054 | 49,230 | |
The notes form part of these financial statements
Page 3
George Ward Centre Limited
Balance Sheet 28 February 2023
| 28.2.23 | 28.2.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 8 | 14,196 | 16,702 |
| CURRENT ASSETS | |||
| Debtors | 9 | 17,353 | 9,576 |
| Cash at bank and in hand | 28,247 | 46,160 | |
| 45,600 | 55,736 | ||
| CREDITORS | |||
| Amounts falling due within one year | 10 | (18,742) | (23,208) |
| NET CURRENT ASSETS | 26,858 | 32,528 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 41,054 | 49,230 | |
| NET ASSETS | 41,054 | 49,230 | |
| FUNDS | 12 | ||
| Unrestricted funds | 41,054 | 49,230 | |
| TOTAL FUNDS | 41,054 | 49,230 | |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 4
George Ward Centre Limited
Balance Sheet - continued 28 February 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. K Barsby - Trustee
............................................. D E Jenkinson - Trustee
The notes form part of these financial statements
Page 5
George Ward Centre Limited
Notes to the Financial Statements for the Year Ended 28 February 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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.
Office Equipment - 15% on reducing balance Fixtures and General Equipment - 15% on reducing balance
Taxation
The charity is exempt from corporation 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 6
continued...
George Ward Centre Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 28.2.23 | 28.2.22 | ||
| £ | £ | ||
| Café income | 1,767 | 494 | |
| Room Hire | 60,143 | 43,372 | |
| Exceptional items | 5,364 | 5,933 | |
| 67,274 | 49,799 | ||
| 3. | INVESTMENT INCOME | ||
| 28.2.23 | 28.2.22 | ||
| £ | £ | ||
| Deposit account interest | 77 | 2 | |
| 4. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 28.2.23 | 28.2.22 | ||
| £ | £ | ||
| Staff costs | 51,111 | 38,889 | |
| Rates and water | 1,062 | 648 | |
| Insurance | 950 | 920 | |
| Light and heat | 12,386 | 10,390 | |
| Telephone | 1,358 | 1,328 | |
| Sundries | 2,970 | 1,958 | |
| Repairs & Renewals | 4,845 | 3,478 | |
| Depreciation | 2,505 | 2,948 | |
| Support costs | 5,350 | 4,996 | |
| 82,537 | 65,555 | ||
| 5. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 28.2.23 | 28.2.22 | ||
| £ | £ | ||
| Depreciation - owned assets | 2,506 | 2,946 | |
| Hire of plant and machinery | 719 | 1,402 | |
continued...
Page 7
George Ward Centre Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 1,101 |
| Charitable activities | |
| HBBC Grant | 19,143 |
| Other trading activities | 49,799 |
| Investment income | 2 |
| Total | 70,045 |
| EXPENDITURE ON | |
| Raising funds | 67,037 |
| NET INCOME | 3,008 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 46,222 |
| TOTAL FUNDS CARRIED FORWARD | 49,230 |
continued...
Page 8
George Ward Centre Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
8. TANGIBLE FIXED ASSETS
| 8. TANGIBLE FIXED ASSETS |
8. TANGIBLE FIXED ASSETS |
8. TANGIBLE FIXED ASSETS |
|
|---|---|---|---|
| Fixtures and Office General Equipment Equipment Totals £ £ £ COST At 1 March 2022 and 28 February 2023 8,350 68,220 76,570 DEPRECIATION At 1 March 2022 5,977 53,891 59,868 Charge for year 356 2,150 2,506 At 28 February 2023 6,333 56,041 62,374 NET BOOK VALUE At 28 February 2023 2,017 12,179 14,196 At 28 February 2022 2,373 14,329 16,702 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 28.2.23 28.2.22 £ £ Trade debtors 13,986 7,715 Prepayments 1,923 282 15,909 7,997 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 28.2.23 28.2.22 £ £ Bank loans and overdrafts (see note 11) 16,231 19,000 Trade creditors 449 1,622 Social security and other taxes - 258 Accrued expenses 2,062 2,328 18,742 23,208 |
Totals £ 76,570 59,868 2,506 62,374 14,196 |
||
| 2,373 | 14,329 | 16,702 | |
| 19,000 | |||
| 1,622 258 2,328 23,208 |
continued...
Page 9
George Ward Centre Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
11. LOANS
An analysis of the maturity of loans is given below:
| 28.2.23 | 28.2.22 | |||
|---|---|---|---|---|
| £ | £ | |||
| Amounts falling due within one year on demand: | ||||
| Bank loans | 16,231 | 19,000 | ||
| 12. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.3.22 | in funds | 28.2.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 49,230 | (8,176) | 41,054 | |
| TOTAL FUNDS | 49,230 | (8,176) | 41,054 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 75,810 | (83,986) | (8,176) | |
| TOTAL FUNDS | 75,810 | (83,986) | (8,176) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.3.21 | in funds | 28.2.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 46,222 | 3,008 | 49,230 | |
| TOTAL FUNDS | 46,222 | 3,008 | 49,230 |
continued...
Page 10
George Ward Centre Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 70,045 | (67,037) | 3,008 |
| TOTAL FUNDS | 70,045 | (67,037) | 3,008 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.3.21 | in funds | 28.2.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 46,222 | (5,168) | 41,054 |
| TOTAL FUNDS | 46,222 | (5,168) | 41,054 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 145,855 | (151,023) | (5,168) |
| TOTAL FUNDS | 145,855 | (151,023) | (5,168) |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2023.
Page 11
George Ward Centre Limited
Detailed Statement of Financial Activities for the Year Ended 28 February 2023
| 28.2.23 | 28.2.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 2,809 | 1,101 |
| Other trading activities | ||
| Café income | 1,767 | 494 |
| Room Hire | 60,143 | 43,372 |
| Exceptional items | 5,364 | 5,933 |
| 67,274 | 49,799 | |
| Investment income | ||
| Deposit account interest | 77 | 2 |
| Charitable activities | ||
| Grants | 5,650 | 19,143 |
| Total incoming resources | 75,810 | 70,045 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Wages | 50,727 | 38,717 |
| Pensions | 384 | 172 |
| Rates and water | 1,062 | 648 |
| Insurance | 950 | 920 |
| Light and heat | 12,386 | 10,390 |
| Telephone | 1,358 | 1,328 |
| Sundries | 2,970 | 1,958 |
| Repairs & Renewals | 4,845 | 3,478 |
| Deprec of Office Equipment | 356 | 419 |
| Deprec of Fixtures & General Equipment | 2,149 | 2,529 |
| 77,187 | 60,559 | |
| Other trading activities | ||
| Container Hire | 432 | 432 |
| Licensing | 733 | 990 |
| Bad debts | 284 | 60 |
| 1,449 | 1,482 | |
| Support costs | ||
| Management | ||
| Lease of Coffee Machine. | 287 | 970 |
| Carried forward | 287 | 970 |
This page does not form part of the statutory financial statements
Page 12
George Ward Centre Limited
Detailed Statement of Financial Activities for the Year Ended 28 February 2023
| 28.2.23 | 28.2.22 | |
|---|---|---|
| £ | £ | |
| Management | ||
| Brought forward | 287 | 970 |
| Postage and stationery | 743 | 241 |
| Website & I.T. | 457 | 762 |
| Bank interest | 118 | - |
| Bank loan interest | 349 | 34 |
| 1,954 | 2,007 | |
| Finance | ||
| Bank charges | 90 | 90 |
| Governance costs | ||
| Accountancy and legal fees | 3,306 | 2,314 |
| Professional Fees | - | 585 |
| 3,306 | 2,899 | |
| Total resources expended | 83,986 | 67,037 |
| Net (expenditure)/income | (8,176) | 3,008 |
This page does not form part of the statutory financial statements
Page 13