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2021-12-31-accounts

The Hub-Yeovil Community Support Charity (A Charitable Company Limited by Guarantee)

Annual Report and Financial Statements

For the Year Ended 31 December 2021

Company Number: 07358159 Charity Registered in England and Wales Number: 1159016

The Hub-Yeovil Community Support Charity Contents For the Year Ended 31 December 2021

Reference and Administrative Details
Trustee Directors’ Report
Independent Examiners’ Report
Statement of Financial Activities
Balance Sheet
Cash flow statement
Notes to the Financial Statements		 Page
2
3 – 10
11
12
13 - 14
15
16 – 29

Page 1

The Hub-Yeovil Community Support Charity Reference and Administrative Details For the Year Ended 31 December 2021

Trustees N A Downton (Chair)
L Eveleigh
J A Matthews
J S McCabe
D Scarratt
Principal Address and Registered Office 13 Buckland Road
Pen Mill Trading Estate
Yeovil
Somerset
BA21 5EA
Chief Executive Officers K Comber
S Kibby
Company Registration Number 07358159
Charity Registration Number 1159016
Independent Examiner Michelle Ferris FCA DChA
Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
Bankers CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent, ME19 4TA
Solicitors Battens Solicitors
Mansion House
Princes St
Yeovil
Somerset
BA20 1EP

Page 2

The Hub-Yeovil Community Support Charity Trustee Directors’ Report For the Year Ended 31 December 2021

The Trustees (who are also the Directors for the purpose of Company Law) have pleasure in presenting their annual report and the financial statements for the year ended 31 December 2021. The provisions of the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP FRS 102implemented 1 January 2019) have been adopted in preparing the annual report and financial statements of the charity.

Public benefit

The trustees report that the charitable activities, described in the “Mission statement”, “Activities” and “Achievements and performance” paragraphs, are for the public benefit. The trustees also confirm that they have complied with section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity was established as a company limited by guarantee (incorporated 26 August 2010) and registered as a charity with the Charity Commission (registered 29 October 2014). The affairs of the charity are governed by its memorandum and articles under which the members of the company are its trustees and control of the charity and its property and funds.

The Trustees serving during the year and since the year end are as follows:

Recruitment and appointment of trustees

A robust process is in place for the recruitment and appointment of trustees. Trustees carry out a skills gap analysis before recruiting and now advertise widely to find people with the required skills and experience.

Induction and training of trustees

Newly appointed trustees are provided with a comprehensive induction process including the provision of appropriate documentation re roles and responsibilities, a tour of the organisation and mentoring by established trustees.

Arrangements for setting key management personnel remuneration

The trustees employ staff to run the day to day activities of the charity, with strategic decisions being taken at a trustee level.

The two Joint Chief Executive Officers and the Operations Manager are considered to be key management personnel.

The Trustees meet at least quarterly and delegate all operational decisions and running of the Hub to the CEOs. The trustee board is independent from the management team. The day-to-day management is then delegated onto the Operations Manager.

The Chair carries out an annual appraisal of the Chief Executive Officers and agrees their salary with the other trustees. This review will include benchmarking of salaries with other CEOs of local charities or similar organisations.

Page 3

The Hub-Yeovil Community Support Charity Trustee Directors’ Report For the Year Ended 31 December 2021

Objectives and activities

Objects and aims

The objects of the Charity, as set out in the governing document, are:

"restricted specifically, only for the public benefit to relieve the needs of young people and adults with learning disabilities / difficulties, physical disabilities, and emotional and social difficulties, in particular by providing training, skills and support that will enable them to lead meaningful and independent lives, fulfil their aspirations to work and make positive contributions to society.”

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help.

The review also helps us ensure our aim, objectives and activities remain focused on our stated purposes.

In the Summer of 2022 the Board are carrying out a review of the Charity’s Vision, Mission and Values and updating them, where required, to reflect the future direction of the Hub.

Our overall vision of for adults with learning disabilities and autism to live an independent life as possible. Everything we do is aligned to that vision. There is increasing demand for the services we provide, demonstrated by significant increases in referrals from Social Services, local colleges, schools, care homes, etc particularly, as a result of traditional Council run day services no longer being provided.

The coronavirus pandemic was of great concern for the Hub. The financial viability of the Hub was a major concern along with the health and wellbeing of trainees and staff. The Hub was closed for long periods but It also provided a time for the Trustees and senior management to reflect on the direction of the Hub. As a consequence the following took place:

We have increased the quality and variety of the sessions we provide for our trainees. Link to our website https://www.thehubyeovil.co.uk and Facebook https://www.facebook.com/HubYeovil

Those trainees who want to, get the opportunity to work in the Hub café serving customers or in the kitchen helping to prepare meals and make cakes etc. There is also the opportunity to work in the Hub’s scrapstore, again learning customer service skills etc. Other activities that trainees can get involved in include:

Page 4

The Hub-Yeovil Community Support Charity Trustee Directors’ Report For the Year Ended 31 December 2021

• Life skills
• Art therapy
• Themed learning
• Creative reading and writing
• Digital skills
• Photograpy
• Junk Modelling
• Media recycling
• Health and wellbeing
• Ebay sales
• Orienteering
• Drama and choir
• Cricket with Somerset Cricket Foundation
• Attendance at Yeovil Men’s Shed
• Visits to Lofty Therapy Horses
• Visits to Hilfields Friary for gardening and land-based activities
• Make to sell
• Prodigal Bikes to repair bikes and support a local charity

Fundraising disclosures

The Charity did not have any fundraising events in 2021 due to the coronavirus pandemic.

Use of volunteers

The Charity has a small number of dedicated and much valued volunteers. The volunteers support the running of the scrapstore and organising events but due to the coronavirus pandemic their involvement in 2021 was minimal.

Achievements and performance

Key financial performance indicators

Trainee numbers are measured and compared on a monthly basis. The Charity had a very challenging year in 2021 with the service closed for periods due to the pandemic. During these periods the staff continued to regularly engage with our trainees via phone calls and Zoom meetings. This included activities, social chats, weekly quizzes' etc. Despite the pandemic the trainee numbers have increased to 60, the highest number the Hub has ever supported. This figure is even more pleasing because during the year some trainees have left, having learnt new skills and grown in confidence, they were ready to move on to volunteering or other opportunities.

A detailed monthly Profit & Loss account is prepared with commentary on activities and this is sent to the Trustees. Cashflow is monitored on a daily basis.

Key non-financial performance indicators

Trainees are set goals and their performance against goals measured. Those working in the cafe get the opportunity to attain bronze, silver and gold certificates re catering and food hygiene and barista training.

We have also introduced a parent/carer forum for feedback on the service provided, share any concerns and to discuss future initiatives

Page 5

The Hub-Yeovil Community Support Charity Trustee Directors’ Report For the Year Ended 31 December 2021

Strategic Aims and Objectives

We have rewritten our strategic aims and objectives:

Strategic Aim One: To establish a sustainable future

Strategic Objectives:

By the end of 2023, we will have:

Strategic Aim Two: To provide excellent services with trainee choice and control

Strategic Objectives:

By the end of 2023, we will have:

Strategic Aim Three: To support our trainees to live as an independent life as possible in the local community

Strategic Objectives:

Page 6

The Hub-Yeovil Community Support Charity Trustee Directors’ Report For the Year Ended 31 December 2021

By the end of 2023, we will have:

Strategic Aim Four: To improve the wellbeing of our trainees

Strategic Objectives:

By the end of 2023, we will have:

Strategic Aim Five: No adult with learning disability or autism in the local community should have nowhere to go

Strategic Objectives:

By the end of 2023, we will have:

Strategic Aim Six: To train and develop a professional and effective workforce

Strategic Objectives:

Page 7

The Hub-Yeovil Community Support Charity Trustee Directors’ Report For the Year Ended 31 December 2021

By the end of 2023, we will have:

Financial review

During the year ended 31 December 2021, the Charity had total income of £502,586 (2020: £611,160) and total expenditure of £473,354 (2020: £550,176). The income and expenditure relating to restricted funds was £6,000 (2020: £32,443) and £21,414 (2020: £34,628). The Charity was in receipt of Government grant income in relation to Coronavirus of £59,797 (2020: £117,294).

Total funds at 31 December 2021 were £116,162 (2020: £88,930). This is split between unrestricted £116,162 and restricted £nil. Total funds at 31 December 2021 were £88,930. This was split between unrestricted (£113,822) and restricted £202,752. Total free reserves as at 31 December 2021 were £26,207 (2020: deficit £127,251).

Some years ago, the charity received income ringfenced for a property purchase. When this property was sold, the money was put back into a restricted fund. We have now received confirmation that this money can be derestricted and accordingly a transfer has been made back unto unrestricted funds, to restore the positive position of those funds.

Plans for the future

Our plans for the future are to continue to provide a much-needed service where demand is growing. We have no plans to diversify or significantly change the services we provide. We have a robust financial model where we are making small surpluses. We just want to help adults with learning disabilities live an independent life as possible. We want to stretch our trainees in a safe environment, helping them to reach their potential and thrive in life.

We would also like to be more inclusive and provide changing facilities so that we can offer our services to more wheelchair users.

We are also keen to work in partnership with other local community organisations and charities.

Policy on reserves

The Charity has improved its financial control systems over the last twelve months. Monthly detailed Profit and Loss statements are provided for the Trustees and bank reconciliations and cashflow projections are carried out on a daily basis. A robust financial model is now in place with a target of retaining three months operating costs as reserves. This was not achieved in 2021, mainly due to the café and scrapstore being closed for long periods, due to the pandemic.

The Hub does not want to have reserves in excess of three months as any surpluses will be used for the benefit of the trainees, i.e purchasing new equipment, paying for trainee trips out, paying providers for completely new sessions for the trainees, etc

Page 8

The Hub-Yeovil Community Support Charity Trustee Directors’ Report For the Year Ended 31 December 2021

Principal funding sources

The principal funding sources for the Charity are currently by way of skills development training paid via direct payments, commissioned services by the Local Authority or self-funders. This is supplemented by income from the Hub’s café and scrapstore.

In addition, the Charity receives funding via grants and donations.

Major risks and management of those risks

The Charity's main source of income is fees from trainees. The Local Authorities set up a daily rate for day services and this amount is charged to the individual dependent upon how many days they attend the Hub each month. If the Local Authority reduces the daily rate for day services or changes it policy/methodology, this is a risk to the Charity.

To mitigate this risk the Charity wants to become less reliant on Local Authority income and plans to increase other sources of income such as fund raising and cafe and scrapstore income.

Reputational risk

The Charity works with vulnerable adults with learning disabilities and autism. It is essential that the Charity provides professional services in a safe and secure environment.

The Charity has comprehensive safeguarding, whistle-blowing and other policies in place and staff are appropriately vetted and trained.

Government Policy

The Government could change their policies in how they see services for vulnerable adults delivered.

The Charity keeps up to date with any Government press releases, changes in legislation and maintains effective relationships with key stakeholders.

Financial instruments

Objectives and policies

The Charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk.

Cash flow risk

The Charity’s activities expose it primarily to the financial risks of changes in interest rates. The Charity does not currently hold any interest bearing assets or liabilities.

Credit risk

The Charity’s principal financial assets are bank balances and cash, trade and other receivables.

The Charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

Page 9

The Hub-Yeovil Community Support Charity Trustee Directors’ Report For the Year Ended 31 December 2021

The Charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

The Charity's liquidity risk is attributable to it's level of cash and credit lines available.

Statement of Trustees Responsibilities

The trustees (who are also the directors of The Hub-Yeovil Community Support Charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on 24 August 2022 and signed on its behalf by:

N A Downton Trustee

J S McCabe Trustee

Page 10

The Hub-Yeovil Community Support Charity Independent Examiners' Report to the Members and Trustees For the Year Ended 31 December 2021

Independent examiners report to the Trustees of The Hub-Yeovil Community Support Charity

I report to the charity trustees on my examination of the accounts of The Hub-Yeovil Community Support Charity (“the Company”) for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not comply with these records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Michelle Ferris FCA DChA Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX Date: 25 August 2022

Page 11

The Hub-Yeovil Community Support Charity Statement of Financial Activities (including an Income and Expenditure account) For the Year Ended 31 December 2021

----- Start of picture text -----
Unres- Res- Unres- Res-
tricted tricted 2021 Total tricted tricted 2020 Total
Notes £ £ £ £ £ £
Income and endowments from:
Donations and legacies 2 92,331 6,000 98,331 178,179 32,443 210,622
Charitable activities 3 388,926 - 388,926 378,228 - 378,228
Other trading activities 4 15,329 - 15,329 20,810 - 20,810
Other income - - - 1,500 - 1,500
Total income 496,586 6,000 502,586 578,717 32,443 611,160
Expenditure on:
Raising funds 5 14,028 1,257 15,285 11,227 6,341 17,568
Charitable activities 6 439,912 20,157 460,069 504,321 28,287 532,608
Total expenditure 453,940 21,414 475,354 515,548 34,628 550,176
Net income/(expenditure) 42,646 (15,414) 27,232 63,169 (2,185) 60,984
Transfers between funds 17 187,338 (187,338) - (1,235) 1,235 -
Net movement in funds 229,984 (202,752) 27,232 61,934 (950) 60,984
Reconciliation of funds
Total funds brought forward (113,822) 202,752 88,930 (175,756) 203,702 27,946
Total funds carried forward 116,162 - 116,162 (113,822) 202,752 88,930
----- End of picture text -----

The results for the year derive from continuing activities and there are no gains or losses other than those shown above.

The statement of financial activities incorporates the income and expenditure account.

Page 12

The Hub-Yeovil Community Support Charity- Company Registration Number: 07358159 Balance Sheet As at 31 December 2021

----- Start of picture text -----
2021 2020
£ £
Notes
Fixed assets
Tangible fixed assets 11 89,955 91,901
Current assets
Stocks 12 1,000 1,000
Debtors 13 3,236 959
Cash at bank and in hand 14 37,987 22,854
42,223 24,813
Creditors:
Creditors falling due within one year 15 (16,016) (27,784)
Net current assets 26,207 (2,971)
Total net assets 116,162 88,930
The funds of the charity:
Restricted funds 17 - 202,752
Unrestricted funds 17 116,162 (113,822)
Total charity funds 116,162 88,930
----- End of picture text -----

Page 13

The Hub-Yeovil Community Support Charity- Company Registration Number: 07358159 Balance Sheet As at 31 December 2021

These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

For the year in question, the charitable company was entitled to exemption from an audit under section 477 of the Companies Act 2006.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.

The trustees/directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board of Trustees for issue on 24 August 2022 and signed on their behalf by:

N A Downton Trustee

J S McCabe Trustee

Page 14

The Hub-Yeovil Community Support Charity Cash flow statement For the Year Ended 31 December 2021

Notes
Cash flows from operating activities
Net movements in funds for the year
Adjustments to cash flows from non-cash items
Depreciation and amortisation
11
Working capital adjustments
(Increase) / decrease in debtors
13
(Decrease) / increase in creditors
15
Net cash flow from operations
Cash flows from investing activities
Acquisitions of tangible assets
11
Net cash flows from investing activities		 Total
2021
£
27,232
20,074
47,306
(2,277)
(11,768)
33,261
(18,128)
(18,128)		 Total
2020
£
60,984
17,038
78,022
5,245
6,369
89,636
(38,954)
(38,954)
Cash flows from financing activities
Repayment of loans and borrowings
Net increase in cash and cash equivalents
Reconciliation of net debt
Cash and cash equivalents at the beginning of
the reporting period
Net increase in cash and cash equivalents
Total cash & cash equivalents at the end of the
reporting period		 -
15,133
22,854
15,133
37,987		 (36,800)
13,882
8,972
13,882
22,854

Page 15

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

1 Accounting Policies

1.1 General information and basis of accounting

The Hub-Yeovil Community Support Charity is a company limited by guarantee incorporated in the United Kingdom under the Companies Act. The maximum liability of each member is limited to £10. The address of the registered office is given on page 2. The nature of the charity’s operations and its principal activities are set out in the Trustees report on pages 3-9.

The financial statements have been prepared in £ sterling on the historical cost basis and 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 2019)- (Charities SORP (FRS 102)) and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2

Income

All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income. The valuation of donated services is not quantified within the Statement of Financial Activities.

Donation income is received by way of general grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Income from gift aid is included in the Statement of Financial Activities at the same time as the donation to which they relate.

Income from grants, relating to specifically the provision of goods or services as part of charitable activities or services to clients are included in full in the Statement of Financial Activities when receivable and in the period in which they relate to. Grants are deferred when the monies have been received in advance of the period in which they relate to.

Income from charitable activities is recognised when the charity is entitled to the income. Other trading activities income includes income relating to café and scrap sales and is included in the Statement of Financial Activities at point of sale. Investment income is included when receivable.

Income received in relation to exceptional government funding has been recognised as donations and legacies in 2021, the £117,294 relating to this for 2020 has been reclassified in this set of financial statements (previously shown under other income).

1.3

Government grants

Government grants are accounted for when unconditionally due and reasonable assurance can be gained that it will be received. Where funds are received in advance, for a specified period, these funds are deferred and recognised in the period to which they relate. Where funds have not been received in a specified period, these funds will be accrued in debtors and recognised in the period to which they relate. Not all grants received have conditions and performance indicators attached, where this is the case, the income is included within donations. Performance related grants are included within Charitable Activities income.

Page 16

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

1.4 Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. All expenditure is gross of VAT which cannot be recovered and is reported as part of the expenditure to which it relates.

Raising funds expenditure comprises of costs incurred by the charity in relation to the running of the café and scrapstore.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

1.5 Fixed assets

Depreciation is calculated to write off the cost of fixed assets over their estimated useful lives at the following rate:- Leasehold improvements – depreciated over the life of the lease

Furniture and equipment – 25% per annum straight line basis Motor vehicles- 25% reducing balance

Fixed assets are valued at cost less depreciation. No assets are capitalised under £50. Fixed assets are reviewed annually for impairment.

1.6 Stocks

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

1.7 Debtors

Accrued income comprises amounts due from funders and is recognised when the charity is entitled to the grant, receipt is probable and the amount can be measured reliably. Prepayments are valued at the amount prepaid.

Cash at bank and in hand comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

1.9 Creditors

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 recognised at their settlement amount.

1.10 Taxation

The company is a registered charity and is therefore not liable to corporation tax to the extent that income and gains are applied to the charitable objectives of the charity.

Page 17

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

1.11 Pension contributions

The charity operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. Contributions are recognised in the Statement of Financial Activities in the period in which they become payable in accordance with the rules of the scheme.

1.12 Fund accounting

General funds are unrestricted funds receivable or generated for the objects of the Bureau without further specified purpose and are available as general funds.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund, together with a fair allocation of management and support costs.

1.13 Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease. The charity has an operating lease for the premises in which they operate, as well as photocopier and telephone leases. The title of the leased premises and equipment remains with the lessor.

1.14 VAT

The charity is not VAT registered and therefore all costs are inclusive of VAT.

1.15 Financial instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:

Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank – is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

1.16 Covid-19

The Trustees have considered the implication of the Covid-19 pandemic on the operations of the charity. The charity has been able to continue to deliver the majority of its services and has attracted additional funding to enable a response to any restrictions and closures of the Hub. Taking into account all reasonable circumstances, the Trustees believe that the charity remains a going concern and no adjustments to the accounts are necessary.

Page 18

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

2 Donations and legacies

----- Start of picture text -----
Unres- Res- 2021 Unres- Res- 2020
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
- -
Donations and gifts 15,034 15,034 50,805 50,805
Gift aid reclaimed 2,500 - 2,500 10,080 - 10,080
Grant income 15,000 6,000 21,000 - 32,443 32,443
Exceptional government funding
Coronavirus Job Retention
- -
Scheme grant 59,797 59,797 107,294 107,294
- - - -
Other Covid grants 10,000 10,000
Total 92,331 6,000 98,331 178,179 32,443 210,622
----- End of picture text -----

The charity has been eligible to claim additional funding in year from government support schemes in response to the coronavirus outbreak. The funding received is shown above under “exceptional government funding”.

The charity furloughed some of its staff under the governments CJRS. The funding received £59,797 (2020: £107,294) relates to staff costs which are included in note 10 as appropriate.

3 Incoming from charitable activities

Trainee funding
Rental income
Total		 Unres-
tricted
£
388,926
-
388,926		 Res-
tricted
£
-
-
-		 2021
Total
£
388,926
-
388,926		 Unres-
tricted
£
376,663
1,565
378,228		 Res-
tricted
£
-
-
-		 2020
Total
£
376,663
1,565
378,228

Page 19

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

4 Income from other trading activities

----- Start of picture text -----
Unres- Res- 2021 Unres- Res- 2020
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
- -
Café and scrap sales 15,329 15,329 20,810 20,810
Total 15,329 - 15,329 20,810 - 20,810
5 Expenditure on raising funds
Unres- Res- 2021 Unres- Res- 2020
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
Café and shop costs 14,028 1,257 15,285 11,227 6,341 17,568
Total 14,028 1,257 15,285 11,227 6,341 17,568
----- End of picture text -----

Page 20

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

6 Expenditure on charitable activities

----- Start of picture text -----
Unres- Res- 2021 Unres- Res- 2020
Note
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
Staff costs 339,465 - 339,465 390,770 7,209 397,979
Rent and rates 48,360 3,000 51,360 46,360 4,000 50,360
- - - -
Heat and light 6,732 6,732
- -
Repairs and maintenance 10,343 10,343 9,404 9,404
Insurance costs 4,901 - 4,901 5,148 - 5,148
Motor expenses 1,396 - 1,396 663 - 663
- -
Postage and stationery 1,991 1,991 1,376 1,376
- - - -
Lofty Therapy Horses 8,849 8,849
Other charitable
-
expenditure 12,769 5,995 18,764 6,487 6,487
- -
Sundry expenses 3,779 3,779 1,598 1,598
Depreciation 8,912 11,162 20,074 3,677 13,361 17,038
Bank charges 96 - 96 615 - 615
- - -
Consultancy fees 7,293 3,625 10,918
Legal & professional fees 1,821 - 1,821 4,243 92 4,335
- -
Accountancy fees 2,354 2,354 1,730 1,730
Governance costs 7 (3,007) - (3,007) 7,464 - 7,464
Total 439,912 20,157 460,069 495,677 28,287 523,964
----- End of picture text -----

7 Analysis of governance costs

Governance costs

Examination fees
Other fees paid to previous
independent examiners
Other governance costs
Independent		 Unres-
tricted
£
1,140
(4,147)
-
(3,007)		 Res-
tricted
£
-
-
-
-		 2021
Total
£
1,140
(4,147)
-
(3,007)		 Unres-
tricted
£
1,080
6,351
33
7,464		 Res-
tricted
2020
Total
£
£
-
1,080
-
6,351
33
-
7,464

Page 21

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

8 Net incoming/outgoing resources

Net incoming/(outgoing) resources for the year include:

----- Start of picture text -----
2021 2020
£ £
Operating leases - plant and machinery 1,152 1,152
Operating leases - other assets 48,000 48,000
Depreciation of fixed assets 20,074 17,173
-
Independent examination fees - current examiner 1,140
-
Independent examination fees - previous examiner 1,080
-
Other accountancy services - current examiner 2,354
Other accountancy services - previous examiner (4,147) 6,351
----- End of picture text -----

9 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year (2020: none).

No trustees have received any reimbursed expenses from the charity during the year (2020: none).

No trustee received payment for professional or other services supplied to the charity (2020: £nil).

Page 22

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

10 Staff costs

Number of employees

The average monthly head count was 15 staff (2020: 22 staff).

Employment costs

The aggregate payroll costs were as follows:

----- Start of picture text -----
2021 2020
£ £
Wages and salaries 312,704 359,822
Social security costs 21,695 22,985
Pension costs 5,066 5,793
-
Redundancy costs 9,379
339,465 397,979
----- End of picture text -----

During the prior year, total costs of £9,379 were paid in respect of one employee redundancy. The amounts were full and final with no outstanding amounts due at the balance sheet date.

The key management personnel of the charity comprise the two chief executive officers. The total employee benefits (includes gross pay, employer pension and employer national insurance) of the key management personnel were £57,251 (2020: £54,132).

There were no individuals who received remuneration of £60,000 or more (2020: none).

Pension costs

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £5,066 (2020: £5,793).

There were no contributions payable to the scheme at the end of the year (2020: £nil).

Page 23

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

11 Tangible fixed assets

Property
Improvements
£
Cost
At 1 January 2021
93,454
Additions
9,686
At 31 December 2021
103,140
Depreciation
At 1 January 2021
18,404
Charge for the year
10,804

At 31 December 2021
29,208
Net book value
At 31 December 2021
73,932
At 31 December 2020
75,050		 Property
Improvements
£
Cost
At 1 January 2021
93,454
Additions
9,686
At 31 December 2021
103,140
Depreciation
At 1 January 2021
18,404
Charge for the year
10,804

At 31 December 2021
29,208
Net book value
At 31 December 2021
73,932
At 31 December 2020
75,050		 Furniture &
Equipment
£
57,466
8,442
65,908
43,864
7,645

51,509
14,399
13,602		 Motor
Vehicles
£
6,500
-
6,500
3,251
1,625

4,876
1,624
3,249		 Total
£
157,420
18,128
175,548
65,519
20,074

85,593
89,955
91,901
12
Stock
Stocks
13
Debtors		 2021
£
1,000		 2020
£
1,000
Trade debtors 2021
£
3,236		 2020
£
959

Page 24

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

14 Cash and cash equivalencies

Cash in hand
Cash at bank
15
Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals
16
Obligations under leases and hire purchases contracts		 2021
£
167
37,820
37,987
2021
£
1,776
8,710
27
5,503
16,016		 2020
£
191
22,663
22,854
2020
£
3,596
5,916
-
18,272
27,784
The total value of future minium lease payments was as follows:
Land and Buildings
Within one year
In two to five years
In over five years		 2021
£
48,000
192,000
624,000
864,000		 2020
£
48,000
192,000
672,000
912,000

Page 25

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

17 Funds

Unrestricted funds
General
Unrestricted
Total Unrestricted funds
Restricted funds
LPR Consulting LLP
Schuh Foundation Fund
Battens Grant Fund
St James Place Charitable Trust
Screwfix Grant
Open Mental Health Network
Yarlington Housing - Enterpise
Investment fund
Total Restricted funds
Total funds
Dorset County Council - Infection
Control
Somerset County Council - Covid
Relief
Yarlington Housing Community
Fund		 Opening
Balance
01.01.21
£
(113,822)
(113,822)
175,624
1,250
1,115
152
889
4,444
-
-
1,500
17,778
202,752
88,930		 Income Expenditure
£
£
496,586
(453,940)
496,586
(453,940)
-
(9,917)
-
(800)
-
(557)
-
(152)
-
(111)
-
(555)
2,000
(2,000)
4,000
(3,600)
-
(1,500)
-
(2,222)
6,000
(21,414)
502,586
(475,354)		 Transfers
£
187,338
187,338
(165,707)
(450)
(558)
-
(778)
(3,889)
-
(400)
-
(15,556)
(187,338)
-		 Closing
Balance
31.12.21
£
116,162
116,162
-
-
-
-
-
-
-
-
-
-
-
116,162

Page 26

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

Unrestricted funds
General
Unrestricted
Total Unrestricted funds
Restricted funds
LPR Consulting LLP
Furniture Grant
Somerset Community Foundation
Schuh Foundation Fund
Battens Grant Fund
National Lottery Community Fund
St James Place Charitable Trust
Screwfix Grant
Reach Grant
Open Mental Health Network
Yarlington Housing - Enterpise
Investment fund
Total Restricted funds
Total funds
Dorset County Council - PPE
Yarlington Housing Community Fund
Somerset County Council - PPE		 Opening
Balance
01.01.20
£
(175,756)
(175,756)
185,133
963
-
2,050
1,672
500
5,759
1,000
5,000
1,625
-
-
-
-
203,702
27,946		 Income Expenditure
£
£
578,717
(515,548)
578,717
(515,548)
-
(9,509)
-
(2,198)
4,000
(4,000)
-
(800)
-
(557)
-
(348)
5,100
(10,859)
-
(111)
-
(556)
-
(1,625)
1,343
(1,343)
500
(500)
1,500
-
20,000
(2,222)
32,443
(34,628)
611,160
(550,176)		 Transfers
£
(1,235)
(1,235)
-
1,235
-
-
-
-
-
-
-
-
-
-
-
-
1,235
-		 Closing
Balance
31.12.20
£
(113,822)
(113,822)
175,624
-
-
1,250
1,115
152
-
889
4,444
-
-
-
1,500
17,778
202,752
88,930

Page 27

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

The specific purposes for which material funds are to be applied are as follows:

The unrestricted funds are available to be used at the trustees discretion to further the objects of the charity.

The LPR Consulting LLP fund was donated to purchase a residential property for a trustee to live in to enable them to fulfil their role within the charity. Rental income was receivable during the period of occupancy. The property was subsequently sold and the funds remained restricted to spend on the repayment of debts and/or expand the operations of the charity.

The charity has now obtained confirmation from the funder that the funds were only ever restricted for the purpose of the property purchased, and that following sale of the property, the funds could be derestricted. This transfer to unrestricted funds has now been applied.

The Yarlington Housing Community Fund represents the net book value of assets purchased from the money donated for the purchase of a fridge and freezer. In 2021, the net book value of the asset has been transferred to unrestricted.

The Schuh Foundation Fund represents the net book value of assets purchased from the money donated for the purchase of a dishwasher. In 2021, the net book value of the asset has been transferred to unrestricted.

Battens Grant Fund was donated to enable the charity to carry out first aid training.

St James Place Charitable Trust relates to money donated to be spent towards renovation works. The balance represents the net book value of the assets purchased for renovation works. In 2021, the net book value of the asset has been transferred to unrestricted.

Screwfix Grant relates to money donated to be spent towards renovation works. The balance represents the net book value of the assets purchased for renovation works. In 2021, the net book value of the asset has been transferred to unrestricted.

The Yarlington Housing Enterprise Investment Fund was for improvements to the building where the charity installed an internal roof on the warehouse and made other improvements in the kitchen and warehouse area. This balance represents the net book value of the assets purchased for renovation works. In 2021, the net book value of the asset has been transferred to unrestricted.

The Open Mental Health Network grant was donated for trips for the charity's trainees.

The Somerset County Council (Covid relief) and the Dorset County Council (Infection control) was used towards additional cleaning costs and PPE associated with the coronavirus pandemic.

Page 28

The Hub-Yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2021

18 Analysis of net assets between funds

----- Start of picture text -----
Unres- Res- 2021 Unres- Res- 2020
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
-
Tangible assets 89,955 89,955 13,429 78,472 91,901
-
Current assets 42,223 42,223 (99,467) 124,280 24,813
-
132,178 132,178 (86,038) 202,752 116,714
- -
Creditors due within one year (16,016) (16,016) (27,784) (27,784)
-
116,162 116,162 (113,822) 202,752 88,930
----- End of picture text -----

19 Related party transactions

During the year the charity had the following transactions with related parties:

One trustee donated £10,000 to the charity (2020: two trustees totalling £37,200).

Page 29