Registered charity number 1158360 Fallowfield Library & Community Resource Centre Financial Statements for the year ended 31st March 2023 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Report of the trustees for the year ended 31 March 2023 The trustees present their report and unaudited financial statements for the year ended 31st March 2023. 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 Samantha Barber stuart Lynd Zoe Goddard Kamalpreet Kaur Susanne Martikke Thomas Williams Shuab Gamote Ali 11 as Office Chair Treasurer Ifan Dates acted 01104122 to 31103123 01104122 to 31 03123 01104122 to 31103123 10108121 to 31 03/23 01]04122 to 31103123 10108121 to 31103123 01104/22 to 31 03123 15 io 22to31 03 23 Prlnclpal Staff Robert Willis {Centre Development & Partnership Manager) April to September 2022 Lesley Brereton {Centre Development & Partnership Manager) September 2022 to April 2023 Lil Luckham (Support Assistant) Part Time Independent Examiner Paul Cowham FCA DChA Green Fish Resource Centre 46 - 50 Oldham Street Manchester M4 ILE Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
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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 2023. 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 materlal matters have come to my attentlon in connection with the examinalion giving me cause to believe that in any material respect: accountlng records were not kept in respect of the Trust as required by sectlon 130 of the 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable qUirementS 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 'trve 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. Pa4d 60AQ4H Paul Cowham MA FCA DChA Green Fish Resource Centre 46 - 50 Oldham Street Manchester M4 ILE 251anuary 2024 Date......................... Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 March 2023 Unrestricted funds Restricted funds Total funds 2023 Total fund5 2022 Note Income Donations and legacies 22,178 22,178 22,419 Charitable activities 62,631 42,002 104,633 96,381 Fees and other income Investments Total income 84,809 42,002 126,811 118,800 Expenditure Charitable actlvltles 129,198 27,574 156,772 105,970 Total expendlture 129,198 27,574 156,772 105,970 Net Income/(expendlture) for the year (44,389) 14,428 (29,961) 12,830 Transfer between funds Net movement In funds for the year {44,389) 14,428 (29,961) 12,830 Reconciliation of funds Total funds brought forward 142,057 142,057 129,227 Total funds carrled forward 97,668 14,428 112,096 142,057 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. io Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Balance sheet as at 31 March 2023 Note 2023 2022 Fixed assets Tangible assets 12 18,928 21,550 Total fixed assets 18,928 21,550 Current assets Debtors Cash at bank and in hand 13 660 142,946 3,510 167,414 Total current assets 143,606 170,924 Liabilities Creditors.. amounts falling due in less than one year 14 (50,438) (50,417) Net current assets/(liabilities) 93,168 120,507 Total assets less current Ilabllltles 112,096 142,057 Net assets 112,096 142,057 Funds of the charlty Restricted income funds Unrestrlcted income funds 15 32,536 79,560 18,108 123,949 16 Total charlty funds 112,096 142,057 The notes on pages 12 to 20 form part of these accounts. 2211124 Approved by the trustees on and signed on their behalf by: Stuart Lynd Name Signed li Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Notes to the accounts for the year ended 31 March 2023 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 l January 2015) (Charities SORP {FRS 102)), the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. The charity has applied Update Bulletin l as published on 2 February 2016 and does not include a cash flow statement on the grounds that it Is applying FRS 102 section IA. Fallowfield Library & Community Resource cent 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 Reconciliatlon wlth prevlous Generally Accepted Accountlng Prartlce 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 comparatlve Items was requid. No such Staternent was required. c Preparatlon of the accounts on a golng concern basls 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 impacfed 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 attrarting additional grant income post year end and also has a healthv 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 a 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. 12 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Notes to the accounts for the year ended 31 March 2023 (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 provlslon of a specified servlce is deferred until the crlteria 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 economlc 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; corresponding amount Is then recognlsed In expenditure In the perlod of recelpt. f Interest recelvable 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 fvrther any of the purposes of charitv. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a sDecific DufDOSe. Restricted funds a 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. 13 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Notes to the accounts for the year ended 31 March 2023 (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 bas15 over their estimated useful lives as Asset Category Annual rate Leasehold improvements IOO/o 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. Credltors and provlslons 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 allowlng 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 amortlsed cost using the effective interest method. p Penslons The charity pays contributions to an employee's own scheme which is a Qualifying Workplace Pension Scheme (QWPS). 14 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Notes to the accounts for the year ended 31 March 2023 (continued) Legal status of the charity The charity is a Charitable Incorporated Organisation (CIO), registration number 1158360. Income from donations and legacies Unrestricted Restricted Total 2023 Unrestricted Restricted Total 2022 In kind income from One Manchester, centre manager other donations 22,078 loo 22,078 loo 22.264 155 22,264 155 Total 22,178 22,178 22,419 22,419 Income from charltable activities Unrestricted Restricted Total 2023 Unrestricted Restricted Total 2022 Grants Ambition for Aging B&Q Foundation The Big Life Company Covid Recovery Fund Forever Manchester GMMH Holiday Hunger GMMH Wellbelng GMP Aris MACC Ltd - Volunteer funding MCC - Finance Shared Service Centre One Manchester MCC Work and skills team Power to Change Travis Perkins Legacy Fund Whalley Range Community Forum Grants no greater than £500 500 soo 4,300 4,300 1,499 1,499 17,250 17,250 17,250 17,250 960 960 150 2,975 150 2,975 1,471 1,471 800 800 20,520 20,520 9,981 34,245 3,000 37,245 9,981 7,500 7,500 20,000 20,000 3,991 3,991 800 800 10,650 10,650 5,325 5,325 1,750 1,750 Fees from Room hire other feeslincome 22,725 1,236 22,725 1.236 11,780 356 11,780 356 Total 62,631 42,002 104,633 71,706 24,675 96,381 15 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Notes to the accounts for the year ended 31 March 2023 (continued) Investment income Unrestricted Restricted 2023 Unrestricted Restricted 2022 Income from bank deposits All of the charity's investment income arise5 from money held in interest bearing deposit accounts. All investment income is unrestricted. Analysls of expendlture on charltable artlvltles Total 2023 Total 2022 Running the library and community resource centre (charitable activity) In kind centre manager salary and on costs Project/events cost Depreciation Repairs and renewals and equipment Insurance IT & social media costs Professional services Service charge General office costs Training costs Travel and subsistence Volunteer expenses Wages and salaries Other costs Other governance costs Independent examination & accountancy 22,078 33,314 4,560 649 1,025 22,264 11,126 4,193 2,886 1,003 959 3,287 49,538 685 2,780 220 35 36,656 1,045 27,489 896 437 33,159 708 900 850 156,772 105,970 2023 2022 Restricted expenditure Unrestricted expenditure 27,574 129,198 9,567 96,403 156,772 105,970 16 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Notes to the accounts for the year ended 31 March 2023 (continued) Net income/{expenditure) for the year This is stated after charging/{crediting): 2023 2022 Amortisation of intangible assets Independent examiner's remuneration accountancy independent examination Quickbooks support 4,560 4,193 450 450 400 450 staff costs The charity one employee during the year. Management was provided by the trustees who received no remuneration. Staff costs during the year We as follows: 2023 2022 Wages and salaries Social security costs Employers pension contributions Staff expenses and training 33,494 28,829 2,117 2,185 28 135 33,629 33,159 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). 500/0 of the costs of this individual were donated by One Manchester in the year (2022., 50%). The costs of the other employee of the charity included in the above figure were £1 1,416 (2022: £10, 1321. No employee has employee benefits in excess of £60,000 (2022: Nil). The average number of staff employed during the period was l (2022: 1). The average full time equivalent number of staff employed during the period was 0.3 {2022'. 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 (2022: £44,156). Trustee remuneratlon and expenses, and related party transactlons One trustee received remuneration for services to the charity of £1,415 {2022'. £735) on the year. This was approved by the trustees. One trustee received any reimbursed travel and website hosting expenses during the year of £196.89 {2022: Nil). Aggregate donations from related parties were £nil (2022: £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 (2022.. nil). 17 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Notes to the accounts for the year ended 31 March 2023 (continued) 10 Government grants No government grants were received during the year or during the previous year. 11 Corporatlon 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 Leasehold Computers Improvements & software Fixtures & fittings Cost Total At l Aprll 2022 Additions Disposals 37,190 2,669 1,938 39,859 1,938 At 31 March 37,190 4,607 41,797 Depreclatlon At l Aprll 2022 Charge for the year Disposals 16,735 3,719 1,574 841 18,309 4,560 At 31 March 2023 20,454 2,415 22,869 Net book value At 31 March 2023 16,736 2,192 18,928 At 31 March 2022 20,455 1,095 21,550 18 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Notes to the accounts for the year ended 31 March 2023 (continued) 13 Debtors 2023 2022 Trade debtors Other debtors 660 3,510 660 3,510 14 Creditors: amounts falllng due within one year 2023 2022 Accruals Deferred income 50,438 50.417 50,438 50,417 15 Analysls of movement In restrlcted funds Balance at l April 2022 Llalance at 31 March 2023 Income Expenditure Transfers Ambition for Aging Aris funding B&Q Foundation Covid Recovery Fund Friends of Fallowfield - defib GMMH Wellbeing MCC Micro Grant MCC - Finance Shared Servlce Centre NIF Travis Perklns Legacy Fund Volunteers Funding Winter wellbeing fund 1,471 4,300 17,250 250 1,499 (1,361) iio 4,300 13,450 13,250 (17,050) (250) {2,426) 1,300 2,758 373 2,758 800 1,680 800 14,752 2,480 473 8,592 (327) (6, 160) 18,108 42,002 (27,574) 32,536 19 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Notes to the accounts for the year ended 31 March 2023 (continued) 15 Analysis of movement in restrirted funds (continued) Previous reporting Deriod Balance at l April 2021 Balance at 31 March 2022 Income Expenditure Transfers Ambition for Aging Covid Recovery Fund GMMH Hunger Holiday GMMH Wellbeing MCC Micro Grant MCC - Finance Shared Service Travi5 Perkin5 Legacy Fund 500 17,250 150 2,975 (500) (4,000) (150) (1,675) (242) {3,000) 13,250 1,300 2,758 3,000 3,000 800 800 3,000 24,675 (9,567) 18,108 I ne Ddl¢ince¥ on resLricieu iunu¥ <1re <111 unexpenueu grtinls ior Lne cndfiLy s pfuJeLLS. I f¢1nsiers from restricted funds occur when capital items are purchased and this satisfies the $trictl0n on the funding. 16 Analysls of movement In unrestrlcted funds Balance at l April 2022 Asat31 Expenditure Transfers March 2023 Income General fund Designated fixed assets Building repalr fund 87,399 84,809 (124,638) 13,062 60,632 21,550 {4,560) 1,938 18,928 15,000 (15,000> 123,949 84,809 (124,638) 79,560 20 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
Fallowfield Library & Community Resource Centre Notes to the accounts for the year ended 31 March 2023 (continued) 16 Analysis of movement in unrestrirted funds (continued) Previous reporting period Balance at l April 2021 Balance as at 31 March 2022 Income Expenditure Transfers General fund Designated fixed assets Bulldlng repalr fund 101,553 93,056 (92,210) { 15,000) 87,399 24,674 1,069 (4,193) 21,550 15,000 15,000 126,227 94,125 (96,403) 123,949 Designated fund Fixed assets These funds represent the net book valve of fixed assets which are not considered to be Dart of free reserves Bulldlng repair Thls is money earmarked to cover future repalrs to the building. fund 17 Analysls of net assets between funds General fund Designated Restricted funds funds Total Tanglble flxed assets Net current assets1(liabilities) 18,928 74,240 18,928 93,168 18,928 Total 93,168 18,928 112,096 21 Doc ID.. 8e593(M663b30961dda51888ad71c401b8f489bb
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