2022-03-31-accounts - Fallowfield Library & Community Resource Centre

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Registered charity number 1158360

Fallowfield Library & Community Resource Centre

Financial Statements

for the year ended 31st March 2022

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Fallowfield Library & Community Resource Centre Report of the trustees for the year ended 31 March 2022

The trustees present their report and unaudited financial statements for the year ended 31st March 2022.

Reference and Administrative Information

Charity name: Fallowfield Library & Community Resource Centre

Other name by which it is known:

The Place at Platt Lane

Charity Registration Number: 1158360

Registered Office: The Place at Platt Lane

Fallowfield Library (Ground Floor)

Platt Lane

Fallowfield

Manchester

M14 7FB

Trustees

Trustee Name	Office (if any)	Dates acted
Samantha Barber	Chair	01/04/21 to 31/03/22
Stuart Lynd	Treasurer	01/04/21 to 31/03/22
Zoe Goddard		01/04/21 to 31/03/22
Susanne Martikke		01/04/21 to 31/03/22
Val Bayliss-Brideaux		01/04/21 to 31/03/22
Derek May		01/04/21 to 31/03/22

Principal Staff

Lesley Brereton (Centre Development & Partnership Manager)

Lil Luckham (Support Assistant)

Independent Examiner

Paul Cowham FCA DChA Green Fish Resource Centre 46 – 50 Oldham Street Manchester M4 1LE

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Fallowfield Library & Community Resource Centre Report of the trustees for the year ended 31 March 2022

Objectives and activities

Objects

The objects of the CIO are as follows:

1) To advance the education of the public in Fallowfield and the surrounding area in particular by the provision of a lending library;

2) To further or benefit the residents of Fallowfield, the wider neighbourhood and people visiting the area, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents.

Activities undertaken for public benefit in relation to objects

Please note: the summary of activities listed below refer to our normal operations, which were disrupted (with some being completely curtailed) throughout early 2021 due to the Covid-19 pandemic and the associated lockdowns and other restrictions. Activities returned as they were allowed within the guidelines but over the year activity was still much reduced from what would be normal delivery.

A broad portfolio of activities are normally undertaken for public benefit at our centre (‘The Place’), under normal circumstances we are open seven days a week and most evenings too to offer a wide and growing range of socially valuable activities and services;
A Community Managed Library service is normally hosted at the premises for 23 hours per week; n.b. the CIO does not deliver this service alone, it is supported by Manchester City Council (MCC) Library Services. Rather the CIO provides a base from which the library can operate and supports the service delivery via volunteers sourced via the CIO (further, we do normally deliver some library sessions on a ‘volunteers only’ basis.
A range of vocational and non-vocational training/education course are normally hosted at the Centre; these are delivered via various accredited training suppliers including Manchester Adult Education Services (MAES). The courses are diverse and include Talk English ESOL courses (via MAES), plus different vocational training courses (via a range of providers);
Forever Young’ sessions are normally weekly along with a ‘Knit & Natter’ group – these are over 50’s groups established to combat loneliness and social isolation by providing a friendly, accessible, stimulating and supportive environment for older local people;
A range of advisory services normally operate from our Centre, these include weekly surgeries by local ward Councillors, ‘One Money’ Financial Inclusion, Debt & Benefits Advice by a local Housing association and a monthly surgery held here by the local MP;
A range of health advice and wellbeing drop in’s are held through out the year and we work with Be Well and Buzz to deliver these.

Statement on Trustee regard to the Charity Commission Guidance on Public Benefit

The Trustees of Fallowfield Library & Community Resource Centre hereby confirm that they have taken full regard of the guidance on public benefit issued by the Charity Commission when exercising any powers or duties to which the guidance is relevant. In particular, the Trustees believe that the list of activities detailed above show complete accordance and compliance with such guidance ‘and are all examples of furthering the charity’s purpose (as defined in its objects described above) for the public benefit.

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Fallowfield Library & Community Resource Centre Report of the trustees for the year ended 31 March 2022

Contribution by Volunteers

Many of our normal activities are supported by volunteers, principal amongst these being our Community Managed Library (CML) service, which could not function without volunteers.

Because of our closure followed by restrictions, most aspects of volunteering were adversely affected, with Library volunteering reduced to 14 weeks of operation at 2 days (5 hours each) per week. Before restrictions were relaxed allowing us to return to normal service This gave a total of 2904 volunteer hours contributed by 14 volunteers.

Statement on Grant making

The CIO has no policy on grant making as this does not form part of its current or planned future activity.

Financial Review and Reserves Policy

Given the events of the pandemic it was fortunate that the CIO entered the 2021/22 finance year with a comfortable level of reserves, totalling £101,553 and representing 16 months’ worth of unrestricted spend (based on historical running costs). As reported in last year’s Trustees Annual Report, The Place closed to the public on 21/03/20 because of the coronavirus pandemic with the trustees recognising at that time that there was a lot of uncertainty around the ongoing Covid 19 pandemic, including the financial implications of our closure. Trustees considered that the healthy level of reserves at the first of April 2021 were important to ensure the charity was able to continue as a going concern and be able to weather the challenges presented by the pandemic.

Under normal (i.e. pre-pandemic) circumstances, the CIO’s main and virtually sole source of selfgenerated income is from room hire charges paid by organisations who hire space to deliver activities at our Centre (The Place). However, our enforced temporary closure and slow opening back up processes in line with Covid Guidelines saw room hire income this finance year much reduced. Our preferred trading model is based on generating income from both external grant funders and room hire, with our long term aspiration being to move towards self-generating an increasing proportion of our overall income via room hire charges. Until now this strategy was working as we have generated an ever increasing proportion of overall income from room hire each year since our inception. We are still currently building the room hire back up and envision reaching pre pandemic levels in 22/23.

The combination of our success in securing emergency grant funding, together with the flexibility and understanding of our existing (pre-pandemic) funders, enabled us to ride out the 2020/21 and early 21/22 years in a sound financial condition.

However, had we not been as successful with our external funding procurement we would have been entirely reliant on our reserves for our survival. This has also reinforced our belief that we should continue with our mixed economy model of generating our own income from room hire whilst also seeking grant funding towards our core costs. Our view is that this approach spreads our risks should either be compromised (e.g. as room hire income has been due to the pandemic); whilst access to grant funding, either core of emergency, in an extremely competitive environment, can never be guaranteed.

Trustees feel that maintaining a higher level of reserves than might be considered normal for the sector is a sensible strategy going forward. The pandemic has taught us to plan for the unexpected, and we consider it too risky to rely on access to emergency grant funding for reasons explored above.

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Fallowfield Library & Community Resource Centre Report of the trustees for the year ended 31 March 2022

Previously, the CIO’s Reserves Policy was to have sufficient unrestricted and free reserves as a contingency to initially cover twelve months of operations in the absence of any external funding or other income, this being based on historical running costs calculations (i.e. Annual Service Charge payable to Manchester City Council, or MCC; employment costs associated to Support Assistant post; and insurances and other sundry costs). However, as reported last year, the CIO is also now responsible for paying 50% of the annual costs of employing the Centre Development & Partnership Manager. Prior to last finance year 2019/20, the full employment costs of this post have been borne by One Manchester (salary plus on costs) with no recharge to the CIO, but the 50% contribution now applies on an annual basis (see ‘Relationship with Related Parties and other bodies’ on page 7 below and Note 3 accompanying the financial accounts). Further, this arrangement is likely to be confirmed as part of a Service Level Agreement (SLA) to be developed in 2022/23 detailing all the arrangements and responsibilities of each party (i.e. the CIO and One Manchester).

Therefore, the CIO Board is mindful of the need to retain a higher level of free reserves to accommodate for this increase in costs going forward. Taken in combination with our policy to build up reserves to provide a medium to longer term buffer against large scale/longer term contingencies (with the pandemic being an obvious example), trustees consider it prudent to build up and retain a minimum of 18 months’ worth of running costs as a free reserve going forward. At 31/03/22 our reserves stood at £87,399, representing approximately 11 months’ worth of running costs.

Core funding secured in 2021/22

MCC’s ‘Our Manchester’ Voluntary & Community Sector (OMCVS) Grant (£20,000 in 2021/22 =1 year extension to initial three year grant
Power to change Community renewal fund Grant £20,000
Expanded additional Restrictions Grant £9,245 one year grant from MCC
Grant (£10,650 in 2021/22 as the second part of £21,300 over two years
MCC’s Manchester Work Club Grant (£5,000 as a one year allocation for 2021/22 only).

Total for the year £64,895

In addition, the CIO also successfully bid for a total of £21,961 in project funding to support various initiatives as part of our community support programme. As far as CIO finances are concerned, this was ‘money in - money out’ with 100% of this funding going to support activities with nothing being retained by the CIO.

Please note: the CIO neither holds any investments nor has any current plans to do so; therefore we currently have no investments policy.

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Fallowfield Library & Community Resource Centre Report of the trustees for the year ended 31 March 2022

Achievements and Performance

Achievements

Following the Covid pandemic and the restrictions put upon the charity during that time we have been able to bring back services as they were allowed and are now running a near normal timetable of events.
For the third successive year, the CIO was able to contribute 50% towards the full employment costs of the Centre Development & Partnership Manager post (salary plus on costs), prior to 2019/20 these costs had previously been 100% covered by One Manchester;
The above reflects the continuing financial stability of the CIO and prepares the ground for the future when the CIO may be solely responsible for recruiting and paying a replacement development manager.
The CIO was successful in securing Funding totalling £86,856
In terms of core funding during 2021/22, the CIO also secured the following: £20,000 from ‘Our Manchester’ Voluntary & Community Sector Grant; MCC Manchester Work Club funding of £5,000 and £10,650 from the OPeNS grant administered by Manchester Health & Care Commissioning; with an additional £9,245 from the additional restrictions grant
The core funding grants above also demonstrate tremendous local buy in to what we do at The Place. This is pleasing because it continues to show recognition of the fact that we do have a hugely positive impact on our neighbourhood and community and local funders are therefore willing to invest in our facility and activities;
Trustees, staff and volunteers of the CIO wish to place on record their thanks and appreciation to all the funders listed above

Performance

Inevitably, the year was still affected by the Covid-19 pandemic, with The Place having closed to the public during the early part of 2022 was still subject to restrictions when it was possible to start to open up within the guidelines

The Place is a vibrant community hub, hosting a wide range of activities and services to support local people regarding their wellbeing (physical and mental), learning, education, skills, employability and culture. Beneficiaries include everyone from preschool age children through to the older members of the community, and from all ethnic and ability backgrounds. We support all our local people, including those who are unemployed, low skilled, financially excluded, socially isolated, or suffering from poor mental or physical health; together with people who want to take up new hobbies or learn new skills and those wishing to meet others. Over the last year we have built the activity back up and there are currently 30 separate activities and services operating from The Place, including: Credit Union, Food Bank, several commissioned health support initiatives, Advice & Advocacy Support Surgeries (including, MP Surgery, local Councillor drop in, debt & benefit advice), mental health support, ESOL classes, a Community Choir and a Community Library service amongst many others.

News (theplacefallowfield.co.uk)

Further, the information in the social media links below highlights the great work that went on at The Place to support our community over the year and in particular during the lockdown periods:

`The Place at Platt Lane | Facebook`

However, despite the various lockdowns and our general closure for much of the year, and severe limitations on numbers and activities when we were able to deliver a phased reopening (always in full accordance with government rules and guidelines), some of our ‘normal’ activities did take place albeit in reduced or amended format.

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Fallowfield Library & Community Resource Centre Report of the trustees for the year ended 31 March 2022

The activities that did take place are listed below:

Activities, Courses and Services hosted/delivered at The Place:

1.The Community Managed Library (CML) that we operate in partnership with MCC Libraries is normally open 23 hours a week. After an period of being closed in 2020 due to the pandemic the library initially reopened on a reduced hours basis delivering library services for 10 hours a week over 2 days 10am to 3pm on Mondays and Wednesday. This continued until July 2021 when the restrictions started to relax

The service operated under strict hygiene (e.g. mandatory sanitizer and face masks) with restrictions on numbers (to comply with social distancing rules). A full breakdown of library usage statistics and visitor numbers is given below, inevitably these are massively down on the figures for earlier years but alternative channels of engagement via electronic books (i.e. Borrowbox) did enable more people to loan books than would otherwise have been possible;

Trinity Church held their weekly service each Sunday morning 9.00am-12.00 noon from 26/07/20, although this was during lockdown they were allowed under the exemptions for places of worship and under very strict hygiene and social distancing conditions. They also offered a quiet space for private prayer, with strict limits on numbers, on Sunday afternoons during the second lockdown.
Work Club sessions ran each Tuesday 9.30pm-4.00pm from 16/02/21 until year end; this operated on an appointment basis to ensure strict limits on numbers for social distancing reason. Prior to this, support had been provided remotely to jobseekers via email, telephone and Zoom;
South Manchester Credit Union operated a much reduced and strictly controlled service from The Place each Thursday morning 10.00am-1.00pm from throughout the operative period.

Please note: most other services that normally operate from The Place provided support remotely throughout the year, including: Self Help Services (a mental health support charity); Citizen’s Advice Manchester; One Money’ Debt Advice/Financial Inclusion service; MoreLife weight management; Be Well social prescribing and one to one support, amongst others. Further, although neither Fallowfield & Withington Foodbank nor Healthy Me Healthy Communities (our partner in our Community Grocer) operated their normal service at The Place, both continued to work with us as part of the Fallowfield versus Coronavirus initiative, and brought considerable and highly relevant expertise to the joint effort to get emergency food supplies to people in need.

Community Outreach Library (01/04/20 – 31/03/21)

Owing to the limited opening of the CML, the figures presented below are still down on previous years. Given the circumstances, however there was an immediate upswing in usage as soon as restrictions we relaxed.

Physical Books issued = 5,985 E-Format Books issues (eBooks and eAudio books) = 3,523 Total loans = 9,508

Active Members (borrowed books or used PCs) =1,472 Additional Borrowbox members (e-format) = 377 Total members = 1,849

Library PC usage by library members = 4,182hours usage

Number of visits to library = 24,890

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Fallowfield Library & Community Resource Centre Report of the trustees for the year ended 31 March 2022

Structure, governance and management

Governing document

Constitution

How the charity is constituted

As a Charitable Incorporated Organisation (CIO) whose only voting members are its charity trustees

Trustee selection and induction methods

Appointed by the Board of Trustees, in full accordance with our constitution. The CIO has procedures for the recruitment, selection, induction and training of trustees and these are fully compliant with Charity Commission guidance.

Organisational structure

The CIO has a Board of Trustees with six trustees currently serving, including a Chair and Treasurer. Each trustee and officer serves for a one year period (subject to reappointment) and must be appointed (for one year term) by a resolution passed at a properly convened meeting of the charity trustees. The senior member of staff (Centre Development & Partnership Manager) reports to the trustee Board at regular meetings as well as answering queries or providing other information for trustees via email or telephone. There is one other part time staff member acting as a Support Assistant who reports directly to the Centre Development & Partnership Manager.

Trustees and staff continually review the governance structure in order to better equip the organisation to deliver the work that we are doing now and are going to do in the future. We remain open to recruiting additional trustees to add new skills, perspectives and impetus to the Board.

Risk Management

The CIO has a Risk Management Framework and Policy covering all foreseeable aspects of our operations and of the context within which we operate.

Relationship with Related Parties and other bodies

The CIO works closely with One Manchester Housing Trust but is entirely independent from it. One Manchester have an active interest in helping The Place at Platt Lane (our Centre, also known as ‘The Place’) develop and move towards self-sustainability because there are circa 1,500 One Manchester properties in the immediate vicinity; so One Manchester views The Place as a valuable community resource in the middle of one of their key neighbourhoods (and where there is little else in terms of community facilities). For this reason One Manchester has provided both ‘in kind’ and cash support to the CIO to provide a solid platform from which the CIO has grown its own income streams (via room hire charges) and levered in external grant funding.

We also work closely with Manchester City Council (MCC) as it is the MCC Library Service which underpins our community managed library (CML) offer. MCC provide professional library staff and enable the CML to link seamlessly into the MCC Libraries infrastructure (including rotation of book stock, with members also able to order books on line for delivery to the CML). The CIO sources volunteers to work alongside MCC staff. Working arrangements between MCC and the CIO for the CML are covered by a Service Level Agreement.

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Fallowfield Library & Community Resource Centre Report of the trustees for the year ended 31 March 2022

Statement of trustees’ responsibilities

The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources of the period. In preparing financial statements giving a true and fair view the trustees should follow best practice and:

• select suitable accounting policies and then apply them consistently;

• make judgments and estimates that are reasonable and prudent;

• state whether applicable accounting standards and statements of recommended practice have been followed, subject to any 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 accounting records that disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with applicable law and the Constitution. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

01 / 23 / 2023

The trustees report was approved on ……………………… and signed on their behalf by:

Samantha Barber

Name ………………………………….

Signature ………………………………….

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Independent Examiner’s Report to the trustees of

Fallowfield Library & Community Resource Centre

I report to the trustees on my examination of the accounts of Fallowfield Library & Community Resource Centre (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 2011 Act and in carrying out my examination I have followed all the 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.

Paul Cowham MA FCA DChA Green Fish Resource Centre 46 – 50 Oldham Street Manchester M4 1LE

01 / 23 / 2023

Date………………………

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Fallowfield Library & Community Resource Centre

Statement of Financial Activities

(including Income and Expenditure account) for the year ended 31 March 2022

Unrestricted funds Note £ Income Donations and legacies 3 22,419 Charitable activities 4 71,706 - - Investments 5 - Total income 94,125 Expenditure Charitable activities 6 96,403 Total expenditure 96,403 7 (2,278) Transfer between funds - Net movement in funds for the year (2,278) Reconciliation of funds Total funds brought forward 129,227 Total funds carried forward 126,949 Fees and other income Net income/(expenditure) for the year	Restricted funds £ - 24,675 - - 24,675 9,567 9,567 15,108 - 15,108 - 15,108	Total funds 2022 £ 22,419 96,381 - - 118,800 105,970 105,970 12,830 - 12,830 129,227 142,057	Total funds 2021 £ 24,770 105,418 - -
			130,188
			111,557
			111,557
			18,631 -
			18,631 110,596
			129,227

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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Fallowfield Library & Community Resource Centre

Balance sheet as at 31 March 2022

Note £ £ Fixed assets Tangible assets 12 21,550 Total fixed assets 21,550 Current assets Debtors 13 3,510 Cash at bank and in hand 167,414 Total current assets 170,924 Liabilities Creditors: amounts falling due in less than one year 14 (50,417) Net current assets/(liabilities) 120,507 Total assets less current liabilities 142,057 Net assets 142,057 Funds of the charity Restricted income funds - 18,108 Unrestricted income funds 17 123,949 Total charity funds 142,057 2022	£ £ 24,674 24,674 3,600 150,094 153,694 (49,141) 104,553 129,227 129,227 3,000 126,227 129,227 2021	£ £ 24,674 24,674 3,600 150,094 153,694 (49,141) 104,553 129,227 129,227 3,000 126,227 129,227 2021
		24,674 104,553
		129,227
		129,227
		3,000 126,227
		129,227

The notes on pages 12 to 20 form part of these accounts.

01 / 23 / 2023

Approved by the trustees on ….................. and signed on their behalf by:

Stuart Lynd
Name	Signed

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Fallowfield Library & Community Resource Centre

Notes to the accounts for the year ended 31 March 2022

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 section 1A.

Fallowfield Library & Community Resource Centre meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Reconciliation with previous Generally Accepted Accounting Practice

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No such restatement was required.

c Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The activities of the charity have been impacted post year end by to the Covid 19 pandemic, for example room hire income has been greatly reduced. However the charity has been successful in attracting additional grant income post year end and also has a healthy level of reserves.

There are no key judgments which the trustees have made which have a significant effect on the accounts.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

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Fallowfield Library & Community Resource Centre

Notes to the accounts for the year ended 31 March 2022 (continued)

d Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

e Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

f Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

g Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

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Fallowfield Library & Community Resource Centre

Notes to the accounts for the year ended 31 March 2022 (continued)

h Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i Tangible fixed assets

Fixed assets are stated at cost less accumulated depreciation. Individual items costing less than £500 are not capitalised.

Tangible fixed assets are depreciated on a straight line basis over their estimated useful lives as	Tangible fixed assets are depreciated on a straight line basis over their estimated useful lives as
Asset Category	Annual rate
Leasehold improvements	10%
Office furniture & equipment	20%

l Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

n Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

o Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

p Pensions

The charity pays contributions to an employee's own scheme which is a Qualifying Workplace Pension Scheme (QWPS).

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Fallowfield Library & Community Resource Centre

Notes to the accounts for the year ended 31 March 2022 (continued)

2 Legal status of the charity

The charity is a Charitable Incorporated Organisation (CIO), registration number 1158360.

3 Income from donations and legacies

Unrestricted Restricted Total 2022 £ £ £ 22,264 - 22,264 155 - 155 Total 22,419 - 22,419 Income from charitable activities Unrestricted Restricted Total 2022 £ £ £ Grants Ambition for Aging - 500 500 - 17,250 17,250 - 150 150 GMMH Wellbeing - 2,975 2,975 HMRC - JRS - - - - - 34,245 3,000 37,245 - - - - - - - - - - - - - - - - - - 20,000 - 20,000 - - - - 800 800 5,325 - 5,325 Fees from Room hire 11,780 - 11,780 356 - 356 Total 71,706 24,675 96,381 Retail, Leisure and Hospitality Covid Recovery Fund MCC - Finance Shared Service Centre Travis Perkins Legacy Fund One Manchester Forever Manchester In kind income from One Manchester, centre manager Other donations Whalley Range Community Forum Power to Change GMMH Holiday Hunger MCC - NIF MCC - Corporate We Love Manchester National Lottery Community Fund MCC Our Mcr VCS Grant Other fees/income	Unrestricted Restricted Total 2022 £ £ £ 22,264 - 22,264 155 - 155	Unrestricted Restricted Total 2021 £ £ £ 22,101 - 22,101 2,669 - 2,669
	22,419 - 22,419	24,770 - 24,770
		Unrestricted Restricted Total 2021 £ £ £ - - - - - - - - - - - - - 1,987 1,987 13,000 - 13,000 5,000 3,500 8,500 - 2,000 2,000 10,000 - 10,000 - 4,291 4,291 300 4,200 4,500 - 3,865 3,865 17,500 - 17,500 - - - 25,000 - 25,000 - - - 10,650 - 10,650 4,125 - 4,125 - - -
	71,706 24,675 96,381	85,575 19,843 105,418

4 Income from charitable activities

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Fallowfield Library & Community Resource Centre

Notes to the accounts for the year ended 31 March 2022 (continued)

5 Investment income

Investment income
Income from bank deposits	Unrestricted Restricted 2022 £ £ £ - - -	Unrestricted Restricted 2021 £ £ £ - - -
	- - -	- - -

All of the charity's investment income arises from money held in interest bearing deposit accounts. All investment income is unrestricted.

6 Analysis of expenditure on charitable activities

	Total 2022	Total 2021
	£	£
Running the library and community resource centre	(charitable activity)
In kind - centre manager salary and on costs	22,264	22,101
Project/events cost	11,126	17,456
Depreciation	4,193	4,039
Repairs and renewals and equipment	2,886	3,524
Insurance	1,003	973
IT & social media costs	959	419
Service charge	27,489	28,291
General office costs	896	679
Volunteer expenses	437	-
Wages and salaries	33,159	32,009
Other costs	708	966
Other governance costs
Independent examination & accountancy	850	1,100
	105,970	111,557
	2022	2021
	£	£
Restricted expenditure	9,567	17,371
Unrestricted expenditure	96,403	94,186
	105,970	111,557

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Fallowfield Library & Community Resource Centre

Notes to the accounts for the year ended 31 March 2022 (continued)

7 Net income/(expenditure) for the year

This is stated after charging/(crediting):	2022	2021
	£	£
Amortisation of intangible assets	4,193	4,039
Independent examiner's remuneration
- accountancy	400	400
- independent examination	450	450
- Quickbooks support	-	250

8 Staff costs

The charity one employee during the year. Management was provided by the trustees who received no remuneration.

Staff costs during the year were as follows:

ff costs during the year were as follows: e charity one employee during the year. Management was remuneration.	provided by the trustees w
Wages and salaries Social security costs Employers pension contributions Staff expenses and training	2022 2021 £ £ 28,829 43,762 2,117 3,621 2,185 6,566 28 104
	33,159 54,053

Some of these costs are "in kind" costs. The Centre Development and Partnership Manager is an employee of One Manchester Housing Trust (an independent organisation). 50% of the costs of this individual were donated by One Manchester in the year (2021: 50%). The costs of the other employee of the charity included in the above figure were £10,132 (2021: £9,898).

No employee has employee benefits in excess of £60,000 (2021: Nil).

The average number of staff employed during the period was 1 (2021: 1). The average full time equivalent number of staff employed during the period was 0.3 (2021: 0.3.)

The key management personnel of the charity comprise the trustees and the Centre Development and Partnership Manager who is not employed by the charity. The total employee benefits of the key management personnel of the charity were £44,156 (2021: £40,553).

9 Trustee remuneration and expenses, and related party transactions

One trustee received remuneration for services to the charity of £735 (2021: £135) on the year. This was approved by the trustees. Neither the trustees nor any persons connected with them received any reimbursed expenses during the year (2021: Nil).

Aggregate donations from related parties were £nil (2021: £nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2021: nil).

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Notes to the accounts for the year ended 31 March 2022 (continued)

10 Government grants

No government grants were received during the year or during the previous year.

11 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

12 Fixed assets: tangible assets

Cost Additions Disposals Depreciation Charge for the year Disposals At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 At 1 April 2021 At 31 March At 1 April 2021	Leasehold Computers Improvements & software £ £ 37,190 - - - - -	Fixtures & fittings £ Total 1,600 38,790 1,069 1,069 - -
	37,190 -	2,669 39,859
	13,016 - 3,719 - - -	1,100 14,116 474 4,193 - -
	16,735 -	1,574 18,309
	20,455 -	1,095 21,550
	24,174 -	500 24,674

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Fallowfield Library & Community Resource Centre

Notes to the accounts for the year ended 31 March 2022 (continued)

13 Debtors

Debtors
Trade debtors Other debtors	2022 £ 3,510 -	2021 £ 3,600 -
	3,510	3,600

14 Creditors: amounts falling due within one year

Accruals Deferred income	2022 £ 50,417 -	2021 £ 29,141 20,000
	50,417	49,141

15 Analysis of movement in restricted funds

Previous reporting period HMRC - JRS MCC - NIF Ambition for Aging MCC - Finance Shared Service Centre NIF Covid Recovery Fund Travis Perkins Legacy Fund MCC Micro Grant MCC - Finance Shared Service One Manchester Forever Manchester We love Manchester GMMH Hunger Holiday GMMH Wellbeing MCC Micro Grant	Balance at 1 April 2021 Income £ £ - 500 - 17,250 - 150 - 2,975 3,000 - - 3,000 - 800	Expenditure Transfers Balance at 31 March 2022 £ £ £ (500) - - (4,000) - 13,250 (150) - - (1,675) - 1,300 (242) - 2,758 (3,000) - - - - 800
	3,000 24,675	(9,567) - 18,108
	Balance at 1 April 2020 Income £ £ - 1,987 528 1,291 - 3,000 - 3,500 - 2,000 - 4,200 - 3,865	Expenditure Transfers Balance at 31 March 2021 £ £ £ (1,987) - - (1,819) - - - - 3,000 (3,500) - - (2,000) - - (4,200) - - (3,865) - -

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19,843 (17,371) -

528

3,000

The balances on restricted funds are all unexpended grants for the charity's projects. Transfers from restricted funds occur when capital items are purchased and this satisfies the restriction on the funding.

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Notes to the accounts for the year ended 31 March 2022 (continued)

17 Analysis of movement in unrestricted funds

Building repair fund General fund Designated fixed assets General fund Previous reporting period Designated fixed assets Building repair fund	Balance at 1 April 2021 Income £ £ 101,553 93,056 24,674 1,069 - -	Expenditure Transfers As at 31 March 2022 £ £ £ (92,210) (15,000) 87,399 (4,193) - 21,550 - 15,000 15,000
	126,227 94,125	(92,210) - 123,949
	Balance at 1 April 2020 Income £ £ 81,355 110,345 28,713 - - -	Expenditure Transfers Balance as at 31 March 2021 £ £ £ (90,147) - 101,553 (4,039) - 24,674 - - -
	110,068 110,345	(94,186) - 126,227

Designated Fixed assets These funds represent the net book value of fixed assets which are not considered to be part of free reserves

18 Analysis of net assets between funds

Tangible fixed assets Net current assets/(liabilities) Total	General Designated fund funds £ £ 21,550 - 83,957 36,550	Restricted funds Total £ £ - 21,550 - 120,507
	105,507 36,550	- 142,057

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