REGISTERED CHARITY NUMBER: 1156072
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
for St Agnes Miners and Mechanics Institute (2013)
Atkins Ferrie Chartered Accountants Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR
St Agnes Miners and Mechanics Institute (2013)
Contents of the Financial Statements for the Year Ended 31 March 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Cash Flow Statement | 7 |
| Notes to the Cash Flow Statement | 8 |
| Notes to the Financial Statements | 9 to 15 |
| Detailed Statement of Financial Activities | 16 to 17 |
St Agnes Miners and Mechanics Institute (2013)
Report of the Trustees
for the Year Ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 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
The object of the Charity is the provision of and maintenance of a village hall for the use of inhabitants of the Parish of St Agnes and the neighbourhood.
Significant activities
The Charity, a CIO, is responsible for the management and operation of a building gifted to the local community as a 'village hall' which is to be used for the benefit of all local residents. Trustees are appointed to the CIO in line with its constitution. The Trustees are responsible for ensuring that the MMI is used in the manner laid down in the original deeds by the benefactor John Passmore Edwards. Activities include the provision of the village hall for any charitable purpose and for the benefit of the inhabitants of St Agnes, Cornwall as the Trustees of the Charity see fit.
Public benefit
We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the Trustees consider how planning activities will contribute to those aims and objectives.
The Charity is a not-for-profit organisation set up to provide facilities that meet the needs of the local population. It continues to seek ways to develop the usage of the MMI facilities. The day-to-day management of the MMI is effectively managed by the Community Development Manager. The Trust relies heavily on income generated from room lettings in the premises. The CDM has established procedures that ensure the rooms are being used effectively and matched to the hirer's needs. The success of this strategy over the past few years is seen in the large number of regular and repeat bookings, particularly with local groups and clubs. The use of the facilities by the public has included:
1) Local government groups holding discussion seminars and also public information meetings.
2) Toddler groups for mums and dads and their offspring.
3) Local art groups, writing groups and music groups regularly holding workshops.
4) A monthly community market has been established to enable local home based people to display and sell their goods. This has increased in size and usually occupies three spaces on each occasion it runs.
5) A community cafe providing a venue for many of the elderly within the parish as well as visitors to the Parish.
6) A twice monthly 'Memory Café' for those affected by Dementia.
7) Private events such as birthday, anniversary and retirement parties as well as wakes.
8) The monthly Community Cinemas, popular and successful events that support the upkeep of the building. As well as a monthly film programme, there is now an 'other' film, an alternative film night showing which includes light refreshment. This has proved a successful social venture.
9) Local activity groups, eg Photography Club and Cornish Traction Engine Group regularly use rooms.
10) The Trust has linked up with Carn to Cove, a Cornish Charity specialising in putting small scale performance art into local communities. During this year the joint events have proved very successful in bringing live performances to the residents of St Agnes.
11) The now well established 'Well-Being' Studios continues to thrive, attracting a wide range of the population. Two room that have been adapted to facilitate activities such as Yoga, Pilates and other movement events. A wide range of courses are offered ranging from Yoga for Mums and toddlers to Ballet for adults. All the courses are well supported again now as confidence returns after the pandemic.
ACHIEVEMENT AND PERFORMANCE
Review of developments
This year has been all about returning to the new normal after the Covid 19 pandemic. Over the year we have reopened until fully functioning with groups gradually gaining confidence and people coming back to enjoy meeting with others again.
FINANCIAL REVIEW
Financial position
The attached financial statements show the current state of the finances. The deficit for the year is £48,646 (2021: £101,700 surplus).
Unrestricted reserves show a surplus of £162,567 (2021: £212,913 surplus), with restricted funds showing a surplus of £332,081 (2021: £330,381 surplus). Free reserves total £135,493 (2021: £190,985).
Page 1
St Agnes Miners and Mechanics Institute (2013)
Report of the Trustees
for the Year Ended 31 March 2022
FINANCIAL REVIEW Reserves policy
As a result of selling the two properties in December 2020, the charity now has a healthy unrestricted reserve of over £100,000.
This is held to contribute towards the on-going maintenance of the building.
FUTURE PLANS
The Trust is responsible for ensuring a very old building is fit for the purpose it is intended. This requires continual expenditure on maintaining the building and is an ongoing process.
Even though the Trust has a relatively healthy bank balance as a result of the sale of the shop, the Trustees recognise the importance to continue to develop income streams to secure the long term future of the MMI. To help with the need for additional funds, the Trust has continued to encourage users to make donations to the Trust that can be supported through the Gift Aid Scheme it has established. Additionally the Trust has set up a "Friends of the St Agnes MMI" scheme to encourage local people to make regular donations to the Trust.
At the present time the building is able to meet the demands from the local population, but the Trust has agreed that if any significant development is required this will only be undertaken if capital funding is available and where possible Trustees will seek the opportunity to apply for external funding to match the Trust's input. We have been in touch with a local professional fund-raiser with this in mind.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is a CIO, controlled by its governing document, a deed of trust, and constitutes an incorporated charity.
Recruitment and appointment of new trustees
At its incorporation in 2014 the charity (CIO) had three trustees. During this year several trustees left after many years of hard work and service to the MMI; Jim Noonan, Simon Tonkin, Iain Norman, Joan Norman and Allan Ackroyd. Two new trustees joined; Ben Jackson and Anna Merrick. As of 31 March 2022 the number of trustees is four.
As part of its constitution the Board of Trustees are charged, when considering the appointment of a Trustee, to consider persons with "skills, knowledge and experience needed for the effective administration of the CIO". A newly appointed Trustee engages in an induction programme that ensures a) they are aware of the aims and objectives of the Trust and b) are aware of their role and responsibilities as a Trustee governed by the Charity Commission. They are given a copy of Commission's Welcome Pack. During their first few months they are mentored by a more experienced Trustee.
Organisational structure
In 2014, following approval from the Charity Commissioner to create a CIO to replace the existing Trust, St Agnes Miners & Mechanics Institute (2013), was incorporated and began the preparation for taking on the responsibilities and assets of the old Trust. From 1st April 2016, the new Trust assumed full responsibility for the operation and management of the assets of the old Trust, in particular the building known as the Miners & Mechanics Institute (MMI).
In February 2017, the Trust appointed a Community Development Manager who has the responsibility for the day-to-day operation and management of the premises. The post is currently a part-time position.
Risk management
The trustees have a risk management strategy which comprises of an annual review to discuss those risks identified and plan procedures to minimise any potential impact on the charity should those risks materialise.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1156072
Principal address
18 Vicarage Road St Agnes TR5 0TL
Page 2
St Agnes Miners and Mechanics Institute (2013)
Report of the Trustees
for the Year Ended 31 March 2022
Trustees
Mr J Noonan (resigned 21.3.2022) Mr S Tonkin (resigned 2.7.2021) Mrs J Norman (resigned 7.5.2021) Mr I Norman (resigned 1.7.2021) Mrs E Sandham (resigned 31.8.2022) Mr A Ackroyd (resigned 21.3.2022) Ms A Jones Mrs A Merrick (appointed 31.3.2022) Mr A Dovey (appointed 1.9.2022) Mr B Jackson (appointed 1.2.2022)
Independent Examiner
Thomas Michael Tripp FCCA ACA Atkins Ferrie Chartered Accountants Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR
Solicitors
Nalders Solicitors 38-39 Lemon Street Truro TR1 2NA
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................................................. Mrs A Merrick - Trustee
Page 3
Independent Examiner's Report to the Trustees of St Agnes Miners and Mechanics Institute (2013)
Independent examiner's report to the trustees of St Agnes Miners and Mechanics Institute (2013)
I report to the charity trustees on my examination of the accounts of St Agnes Miners and Mechanics Institute (2013) (the Trust) for the year ended 31 March 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.
Thomas Michael Tripp FCCA ACA Atkins Ferrie Chartered Accountants Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR
Date: .............................................
Page 4
St Agnes Miners and Mechanics Institute (2013)
Statement of Financial Activities for the Year Ended 31 March 2022
| Unrestricted Restricted fund funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 1,684 - Other trading activities 3 64,070 - Investment income 4 - - Other income 5 14,037 4,000 Total 79,791 4,000 EXPENDITURE ON Raising funds 6 79,239 - Charitable activities 7 Running cost of premises 48,033 2,300 Other 2,865 - Total 130,137 2,300 Net gains on investments - - NET INCOME/(EXPENDITURE) (50,346) 1,700 RECONCILIATION OF FUNDS Total funds brought forward 212,913 330,381 TOTAL FUNDS CARRIED FORWARD 162,567 332,081 |
2022 Total funds £ 1,684 64,070 - 18,037 83,791 79,239 50,333 2,865 132,437 - (48,646) 543,294 494,648 |
2021 Total funds £ 2,869 15,639 1,450 65,824 |
|---|---|---|
| 85,782 | ||
| 47,733 25,802 1,886 |
||
| 75,421 | ||
| 91,339 | ||
| 101,700 441,594 |
||
| 543,294 |
The notes form part of these financial statements
Page 5
St Agnes Miners and Mechanics Institute (2013)
Balance Sheet 31 March 2022
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 12 27,074 331,700 CURRENT ASSETS Stocks 13 1,200 - Debtors 14 1,909 - Cash at bank 134,211 381 137,320 381 CREDITORS Amounts falling due within one year 15 (1,827) - NET CURRENT ASSETS 135,493 381 TOTAL ASSETS LESS CURRENT LIABILITIES 162,567 332,081 NET ASSETS 162,567 332,081 FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 Total funds £ 358,774 1,200 1,909 134,592 137,701 (1,827) 135,874 494,648 494,648 162,567 332,081 494,648 |
2021 Total funds £ 351,928 1,000 1,609 189,984 192,593 (1,227) 191,366 543,294 543,294 212,913 330,381 543,294 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mrs A Merrick - Trustee
The notes form part of these financial statements
Page 6
St Agnes Miners and Mechanics Institute (2013)
Cash Flow Statement
| for the Year Ended 31 March 2022 2022 Notes £ Cash flows from operating activities Cash generated from operations 1 (43,468) Interest paid - Net cash (used in)/provided by operating activities (43,468) Cash flows from investing activities Purchase of tangible fixed assets (11,924) Sale of fixed asset investments - Sale of investment property - Net cash (used in)/provided by investing activities (11,924) Cash flows from financing activities Loan repayments in year - Net cash provided by/(used in) financing activities - Change in cash and cash equivalents in the reporting period (55,392) Cash and cash equivalents at the beginning of the reporting period 189,984 Cash and cash equivalents at the end of the reporting period 134,592 |
2021 £ 15,541 (151) 15,390 (29,237) 91,339 140,000 202,102 (30,722) (30,722) 186,770 3,214 189,984 |
|---|---|
The notes form part of these financial statements
Page 7
St Agnes Miners and Mechanics Institute (2013)
Notes to the Cash Flow Statement for the Year Ended 31 March 2022
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Net (expenditure)/income for the reporting period (as per the Statement of | ||||
| Financial Activities) | (48,646) | 101,700 | ||
| Adjustments for: | ||||
| Depreciation charges | 5,078 | 7,309 | ||
| Losses on investments | - | (91,339) | ||
| Interest paid | - | 151 | ||
| Increase in stocks | (200) | - | ||
| (Increase)/decrease in debtors | (300) | 18 | ||
| Increase/(decrease) in creditors | 600 | (2,298) | ||
| Net cash (used in)/provided by operations | (43,468) | 15,541 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.4.21 | Cash flow | At 31.3.22 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 189,984 | (55,392) | 134,592 |
The notes form part of these financial statements
Page 8
St Agnes Miners and Mechanics Institute (2013)
Notes to the Financial Statements for the Year Ended 31 March 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 presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound sterling.
Income
Income is derived mainly from 'Other trading activities' which consists of cafe income, bar income and room hire.
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.
Government grants
Government grants are recognised as income when there is evidence of entitlement, receipt is probable and the amount can be measured reliably. Grants received are included as unrestricted funds within 'Other income'.
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.
Allocation and apportionment of costs
Support costs have been allocated between governance costs, management costs and finance costs. Governance costs are those items of expenditure incurred in the course of the charity's statutory obligations and include the cost of independent examination and costs linked to the strategic management of the charity.
Supports costs are mainly allocated to 'Expenditure on raising funds'. The governance costs have wholly been allocated to 'Other resources expended' given they do not relate to the day-to-day activities of the charity.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
continued...
Page 9
St Agnes Miners and Mechanics Institute (2013)
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES - continued
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.
Financial instruments
The CIO only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Going concern
There are no material uncertainties regarding the going concern of the CIO.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Donations | 1,684 | 2,869 |
Income from donations and legacies consists of monies received from general donations and fundraising activities.
3. OTHER TRADING ACTIVITIES
4.
| Bar income Room hire Cafe income Sundry income INVESTMENT INCOME Rents received |
2022 £ 1,947 19,073 40,065 2,985 64,070 2022 £ - |
2021 £ - 9,096 5,386 1,157 |
|---|---|---|
| 15,639 | ||
| 2021 £ 1,450 |
INVESTMENT INCOME
5. OTHER INCOME
Other income includes £3,370 (2021: £29,988) received from the Coronavirus Job Retention Scheme.
Further Coronavirus grants of £10,667 (2021: £19,836) were received from Cornwall Council.
Other grants relate to grant income received from St Agnes Parish Council, which was used towards the installation of a new CCTV system and painting and repairing the outside railings.
continued...
Page 10
St Agnes Miners and Mechanics Institute (2013)
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
6. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | |||
|---|---|---|---|
| Support costs Other trading activities Purchases Staff costs Bar entertainment costs Cafe - maintenance Cafe - miscellaneous Aggregate amounts |
2022 £ 3,023 2022 £ 19,978 52,793 580 953 1,912 76,216 79,239 |
2021 £ 1,275 2021 £ 3,132 42,428 180 228 490 |
2021 £ 1,275 |
| 46,458 | |||
| 47,733 |
7.
CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | |
|---|---|
| Direct | |
| Costs | |
| £ | |
| Running cost of premises | 50,333 |
8. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Governance Management costs £ £ Raising donations and legacies 3,023 - Other resources expended - 2,865 3,023 2,865 |
Totals £ 3,023 2,865 |
| 5,888 |
Included in governance costs is £1,560 (2021: £900) relating to fees payable for the independent examination of the financial statements.
Support costs, included in the above, are as follows:
| 2022 | 2021 | |||
|---|---|---|---|---|
| Raising | ||||
| donations | Other | |||
| and | resources | Total | Total | |
| legacies | expended | activities | activities | |
| £ | £ | £ | £ | |
| Telephone | 867 | - | 867 | 464 |
| Postage and stationery | 47 | - | 47 | 5 |
| Advertising | 1,589 | - | 1,589 | 655 |
| Administrative fees | 520 | - | 520 | - |
| Interest payable and similar charges | - | - | - | 151 |
| Accountancy and legal fees | - | 2,865 | 2,865 | 1,886 |
| 3,023 | 2,865 | 5,888 | 3,161 |
continued...
Page 11
St Agnes Miners and Mechanics Institute (2013)
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
10. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Management Cafe |
2022 £ 52,281 512 52,793 2022 2 2 4 |
2021 £ 41,954 474 |
|---|---|---|
| 42,428 | ||
| 2021 2 3 |
||
| 5 |
No employees received emoluments in excess of £60,000.
Contributions recognised as an expense relating to defined contribution pension plans total £512 (2021: £474). There is an amount owing back to the charity of £316 as at 31 March 2022 (2021: £187 creditor). These costs are unrestricted and are allocated to 'Raising funds' as all staff activities relate to the general running and management of the MMI.
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,869 - Other trading activities 15,639 - Investment income 1,450 - Other income 65,824 - Total 85,782 - EXPENDITURE ON Raising funds 47,733 - Charitable activities Running cost of premises 25,802 - Other 1,886 - Total 75,421 - Net gains on investments - 91,339 NET INCOME 10,361 91,339 |
Total funds £ 2,869 15,639 1,450 65,824 |
|---|---|
| 85,782 | |
| 47,733 25,802 1,886 |
|
| 75,421 | |
| 91,339 | |
| 101,700 |
continued...
Page 12
St Agnes Miners and Mechanics Institute (2013)
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 12. TANGIBLE FIXED ASSETS COST At 1 April 2021 Additions At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
Unrestricted Restricted fund funds £ £ 231,339 (231,339) 241,700 (140,000) (28,787) 470,381 212,913 330,381 Fixtures Freehold and Computer property fittings equipment £ £ £ 330,000 77,114 - - 11,652 272 330,000 88,766 272 - 55,186 - - 5,037 41 - 60,223 41 330,000 28,543 231 330,000 21,928 - |
Total funds £ - 101,700 441,594 543,294 Totals £ 407,114 11,924 419,038 55,186 5,078 60,264 358,774 351,928 |
Total funds £ - |
|---|---|---|---|
| 101,700 441,594 |
|||
| 543,294 |
The property has been independently valued at £330,000 in 2014 by an independent valuer who holds recognised professional qualifications and has the relevant experience required. The trustees do not consider the current market value to be materially different.
13. STOCKS
Stocks
| 2022 | 2021 |
|---|---|
| £ | £ |
| 1,200 | 1,000 |
continued...
Page 13
St Agnes Miners and Mechanics Institute (2013)
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Other debtors | 1,909 | 1,609 | |||
| 15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Other creditors | 1,827 | 1,227 | |||
| 16. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | |||||
| At 1.4.21 | in funds | At 31.3.22 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 212,913 | (50,346) | 162,567 | ||
| Restricted funds | |||||
| Restricted fund | 330,381 | - | 330,381 | ||
| St Agnes Parish Council | - | 1,700 | 1,700 | ||
| 330,381 | 1,700 | 332,081 | |||
| TOTAL FUNDS | 543,294 | (48,646) | 494,648 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 79,791 | (130,137) | (50,346) | ||
| Restricted funds | |||||
| St Agnes Parish Council | 4,000 | (2,300) | 1,700 | ||
| TOTAL FUNDS | 83,791 | (132,437) | (48,646) | ||
| Comparatives for movement in funds | |||||
| Net | Transfers | ||||
| movement | between | ||||
| At 1.4.20 | in funds | funds | At 31.3.21 | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General fund | (28,787) | 10,361 | 231,339 | 212,913 | |
| Restricted funds | |||||
| Restricted fund | 470,381 | 91,339 | (231,339) | 330,381 | |
| TOTAL FUNDS | 441,594 | 101,700 | - | 543,294 |
continued...
Page 14
St Agnes Miners and Mechanics Institute (2013)
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 85,782 | (75,421) | - | 10,361 |
| Restricted funds | ||||
| Restricted fund | - | - | 91,339 | 91,339 |
| TOTAL FUNDS | 85,782 | (75,421) | 91,339 | 101,700 |
Restricted funds totalling £330,000 consist of the freehold property transferred to the CIO which is to be used in line with the charitable objectives.
During the year, £2,000 was received from St Agnes Parish Council for the installation of a new CCTV system. All funds have been fully utilised during the year. The amount of £1,700 within restricted funds at 31 March 2022 relates to the fixed asset purchase of the CCTV system less depreciation charged in the year.
During the year, £2,000 was also received from St Agnes Parish Council for the painting and repairing the outside railings. All funds have been fully utilised during the year.
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
Page 15
St Agnes Miners and Mechanics Institute (2013)
Detailed Statement of Financial Activities
for the Year Ended 31 March 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Bar income Room hire Cafe income Sundry income Investment income Rents received Other income Government grants Other grants Total incoming resources EXPENDITURE Other trading activities Purchases Wages Pensions Bar entertainment costs Cafe - maintenance Cafe - miscellaneous Charitable activities Rates and water Insurance Light and heat Sundries Repairs and renewals Depreciation of tangible fixed assets Support costs Management Telephone Postage and stationery Advertising Administrative fees |
2022 £ 1,684 1,947 19,073 40,065 2,985 64,070 - 14,037 4,000 18,037 83,791 19,978 52,281 512 580 953 1,912 76,216 2,661 3,182 5,804 7,510 26,098 5,078 50,333 867 47 1,589 520 3,023 |
2021 £ 2,869 - 9,096 5,386 1,157 15,639 1,450 49,824 16,000 65,824 85,782 3,132 41,954 474 180 228 490 46,458 (569) 3,143 2,702 3,284 9,933 7,309 25,802 464 5 655 - 1,124 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 16
St Agnes Miners and Mechanics Institute (2013)
| Detailed Statement of Financial Activities for the Year Ended 31 March 2022 Management Finance Interest payable Governance costs Accountancy and legal fees Total resources expended Net (expenditure)/income before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net (expenditure)/income |
2022 £ - 2,865 132,437 (48,646) - (48,646) |
2021 £ 151 1,886 |
|---|---|---|
| 75,421 | ||
| 10,361 91,339 |
||
| 101,700 |
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