**The Hub-Yeovil Community Support Charity (A Charitable Company Limited by Guarantee)**
**Annual Report and Financial Statements**
**For the Year Ended 31 December 2022**
**Company Number: 07358159 Charity Registered in England and Wales Number: 1159016**
**The Hub-Yeovil Community Support Charity** Contents For the Year Ended 31 December 2022
|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|
|---|---|
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Page 1
**The Hub-Yeovil Community Support Charity** Reference and Administrative Details For the Year Ended 31 December 2022
|**Trustees**|N A Downton (Chair)|
|---|---|
||J Bowes|
||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 (until 31 March 2023)|
|**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|
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Page 2
**The Hub-Yeovil Community Support Charity** Trustee Directors’ Report For the Year Ended 31 December 2022
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 2022. 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:
- N A Downton
- J Bowes (appointed 5 October 2022)
- L Eveleigh (appointed 16 June 2022)
- J A Matthews
- J S McCabe
- D Scarratt (appointed 10 March 2022)
- I A W Robinson (resigned 10 March 2022)
## **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.
One Chief Executive Officer resigned towards the end of March 2023. The remaining Chief Executive Officer 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 CEO. 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 Officer and agrees their salary with the other trustees. This review will include benchmarking of salaries with other CEOs of local charities or similar organisations.
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Page 3
**The Hub-Yeovil Community Support Charity** Trustee Directors’ Report For the Year Ended 31 December 2022
## **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 Spring/early Summer of 2023 the Board are carrying out a further review of the Charity’s Vision, Mission and Values and updating them to reflect the current operations and future direction of the Hub.
Our overall Vision is “Adults with learning disabilities and autism enjoy equal access to leisure, learning and employment, leading fulfilling lives where they can achieve their goals, be part of the community and realise their true potential.”
Our Mission is “We work with adults with learning disabilities and autism to provide support, training and life skills that make a meaningful difference to how independently they can live their lives.”
## **Achievements**
Demand continues to grow for our services. In 2022 we increased from 61 trainees (service users) to 66 trainees (8.2%) attending and demand has continued to grow into 2023. More significant is that the number of trainees days per week has also increased from 142 to 156 (9.9% increase) with the knock-on effect of increased income.
In the last twelve months we have improved our relationships with Social Services, special educational needs schools, colleges, the NHS, residential care homes etc. For example, we have had increased referrals and hosted more visits from these organisations, there has been improved communication and the transition of adults with learning disabilities and autism to the Hub has generally been smoother.
Our reputation for providing varied and excellent sessions for our trainees has increased in 2022. We strive to provide sessions that will stretch individuals, in a safe environment, to reach their full potential and to become as independent as possible.
We launched a brand new website in 2022 (https://www.thehubyeovil.co.uk) which has been very well received and we have improved our social media presence and engagement via Facebook (https://www.facebook.com/HubYeovil) and Instagram (thehubyeovil). This has also led to more referrals and organisations approaching the Hub who are keen to work with us.
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Page 4
**The Hub-Yeovil Community Support Charity** Trustee Directors’ Report For the Year Ended 31 December 2022
Our community café and scrapstore footfall and sales have increased significantly in 2022. From August 2022 onwards, with “normality” resuming after the covid pandemic there has been much more consistency in our monthly income figures and it is noticeable that we have lots of regular customers returning. From 1[st] August to 31[st] December our café and scrapstore sales were £38,028 compared to £15,324 for the previous year. The increased footfall has continued into 2023 where we have seen months of record sales. Our café and scrapstore are regarded as “safe havens” for people to visit, where they do not feel judged and can be themselves. We have also seen regular visits from the local special educational needs schools, residential homes, ADHD groups, mums and toddlers and a knitting group.
During 2022 we have continued to make further enhancements to our organisational structure. As a result, we have significantly fewer management staff than we have had for the last six years, but the highest number of Work Coaches than we have ever had. This means that we have greater numbers of staff working directly with our trainees. In addition, behind the scenes we have improved our policies and procedures and systems. We have also improved our staff training and development. This included staff receiving Mental Health First Aid training. We now have a very strong, motivated, passionate team of Work Coaches who bring different skills sets to the workplace but with greater consistency in their delivery of activities and support to our trainees. Furthermore, we now provide much improved pastoral support for our trainees, particularly new trainees who often are anxious when they first join as everything is new and potentially overwhelming.
Our Parent/Carer Forum meets quarterly and this is now well established. This has helped us understand better the issues parents and carers experience and has led to much improved two-way conversations about our trainees’ goals, anxieties, health issues etc. It has also helped shape the future direction of the charity. Our relationship with parents and carers has significantly improved during 2022 with noticeable benefits to our trainees.
In 2022 we established a Trainee Council to get invaluable feedback on the sessions and activities from our most important customer – the trainees. This is in its early days, but we want the Trainee Council to develop and influence the future direction of the Hub, It is empowering for our Trainees who have said “It is important to have a Council to let trainees have their say. I love being involved with the Council”, “the Council is good because it helps people” and “I am happy to help the trainees and plan days out”.
Despite a loss in 2022 our financial business model introduced in 2021 is financially viable and sustainable. Trainee income plus income form the café and scrapstore is sufficient to cover our normal operating costs. etc. This means we are no longer as reliant on donations and grants to fund our core activities and where opportunities for additional funding exist or donations are received we are using these to increase our impact and expand our programme.
The new additions to the Board in the last two years has made it stronger and the skills gaps have been filled. It has become a very effective “critical friend” to the CEO and the Trustees have used their networks to provide some very useful opportunities for the Hub.
We continue to provide challenging, fun, exciting and varied sessions to our trainees to help them become more independent, gain confidence, learn new skills, improve their social engagement and reach their full potential. This may result in trainees moving on from the Hub, including into employment.
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Page 5
**The Hub-Yeovil Community Support Charity** Trustee Directors’ Report For the Year Ended 31 December 2022
Activities/sessions our trainees get involved in include:
- Working in our busy community café kitchen
- Working in the front of house of our community café
- Working in our community scrapstore
- Attending work experience opportunities, e.g. at Leonardos Helicopters
- Life skills – learning how to ring the doctors, how to ring a taxi, take a journey on the bus, awareness of “stranger danger”, etc
- Repairing bicycles at Prodigal Bikes, a local charity that sends bikes out to Africa and recently Ukraine
- Woodwork at a local charity the Yeovil Men’s Shed or at the Hub
- Visits to local businesses
- Sport and wellbeing sessions including cricket with Somerset Cricket Foundation and varied activities in association with Somerset Activities and Sports Partnership (SASP). In addition, we have run wellbeing sessions to reduce anxiety and improve physical and mental health
- Visits to a local Therapy Horse centre where the trainees get involved in duties such as mucking out the stables and animal husbandry but also have the opportunity to ride therapy horses
- Visits to Hilfields Friary to grow and harvest fruit and vegetables, other land based activities and to enjoy nature in a beautiful, relaxing setting
- Visits to Carymoor Environmental Trust to learn more about the environment and nature and to learn new skills such as willow weaving to make willow fences
- Gardening – making and planting raised beds etc
- Drama and music – including visits from the therapeutic drum bus, Hub Choir, music and dance workshops by external providers, etc
- Art therapy – including painting, sculpture, printing, pottery etc
- Themed learning on topics of the trainees choice
- Creative reading and writing
- One-off projects with local businesses, e.g. in 2022 Leonardos graduate apprentices worked with two teams of our trainees to design and build gliders with the end goal to see whose glider would fly the furthest
- Digital skills and in 2023 the Hub will have its own digital suite
- • Photography
- Make to sell and junk modelling using items from our scrapstore
- Media recycling to raise funds for the Hub
- Annual Day Trips
- Bingo and disco nights
## **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.
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Page 6
**The Hub-Yeovil Community Support Charity** Trustee Directors’ Report For the Year Ended 31 December 2022
## **Achievements and performance**
## **Key financial performance indicators**
Trainee numbers and trainee days are measured and compared on a monthly basis. As previously stated demand continues to grow for our services. In 2022 we increased from 61 trainees to 66 trainees (8.2%) attending and demand has continued to grow into 2023. More significant is that the number of trainees days per week has also increased from 142 to 156 (9.9% increase) with the knock-on effect of increased income.
A detailed monthly Profit & Loss account is prepared with commentary on activities and this is sent to the Trustees. At the same time the Trustees receive projections of future months’ cash flow and actual performance v projections. 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 aa very effective parent/carer forum and trainee council for feedback on the service provided, share any concerns and to discuss future initiatives.
We also have comprehensive records in place relating to all our trainees including All About Me Forms, Support Plans, Incident and Behaviour Reports.
## **Plans for the future**
Over the next 3 years we will do more to support the wellbeing, independent living and employment opportunities of people with learning disabilities and autism in Somerset and Dorset.
Our ambition is to have a second facility dedicated to independent living skills. Whilst seeking funding we will continue to develop our programme to enhance independent living skills at the Hub. We ae very keen to support trainees and their families with the transition into independent living which often can be a difficult time for all involved.
Our goal is to be able to provide comprehensive support to trainees and employers to create opportunities that work for people with autism and learning disabilities and we will seek to create the income to establish a new programme around employment. This will include increasing paid work opportunities for trainees at the Hub. In addition, we will pilot new ways of delivering work skills for trainees, for example, developing programmes using and expanding our digital facilities.
We will add a full-time post that is focussed on the mental health and wellbeing of our trainees. This role will be trained and help develop the mental health skills and awareness of everyone that works for and with the Hub.
We will expand our partnerships with other organisations in our area so we can play a holistic role in the wellbeing of our trainees.
Another goal will be to expand our support for parents/carers, to help them understand and access the services they need and building long lasting trusting relationships.
We will play a role in bringing together organisations that work with adults with learning disabilities from across our area. Currently there is no regular forum for like-minded services to regularly meet.
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Page 7
**The Hub-Yeovil Community Support Charity** Trustee Directors’ Report For the Year Ended 31 December 2022
We will seek to fund a communities and partnerships role in the organisation to raise more money, increase grant funding, achieve greater engagement with local businesses and organisations and host more events at the Hub to drive local engagement and retail revenue. This will include building deeper relationships with corporate partners.
We want to Improve our marketing and communications with the aim of increasing awareness and support from the local community. Part of this will be to develop more structured ways to listen and respond to feedback and input from parents, staff, trainees, customers and partners. We will also continue to develop our parent/carer and trainee forums with demonstrable feedback loop that results in improvements to how we do things. We will also research appropriate accreditation for the Hub to recognise and highlight the high quality services that are provided.
## **Financial review**
During the year ended 31 December 2022, the Charity had total income of £538,274 (2021: £502,586) and total expenditure of £583,775 (2021: £473,354). The income and expenditure (including transfers) relating to restricted funds was £43,900 (2021: £6,000) and £36,206 (2021: £208,752). The Charity was in receipt of Government grant income in relation to Coronavirus of £3,900 (2021: £59,797).
Total funds at 31 December 2022 were £70,661 (2021: £116,162). This is split between unrestricted £62,967 and restricted £7,694. Total free reserves as at 31 December 2022 were deficit £23,923 (2021: surplus £26,207).
## **Policy on reserves**
It is important for the Hub to build up some reserves during 2023 so that we can operate on the “front foot” and look to the future without constantly thinking about whether each month will generate enough revenue.
## Our principles
- We need reserves so that if we are not hitting our financial targets we have enough time to make and implement a corrective plan that’s not under undue financial pressure, we believe this should be based around a 6-month timeframe
- It is very unlikely that due to our commercial model that all revenue would drop dramatically month to month and for that reason we do not believe that our reserves policy needs to work on the basis of 3 or 6 months full costs - instead working to a modelled 6-month worst case income scenario
- We will review the reserve amount at least annually or at any time there’s a significant change in the business. Our scale and operating costs at any given time will affect the appropriate level of reserves we should have.
## Our approach
- When deciding our level of reserves we have used the reached our model based on the analysis below.
- December is typically the worst month for financial performance. We've used historic data to estimate likely worst-case losses in this month.
- Where non-December loss making months have occurred the recent worst case is an £8k loss we feel this is representative of a likely worse case for all months except December.
- If we were to have 5 loss making months in the run up to a loss-making December this 6-month period would see a loss of £55k. We consider this extremely unlikely.
- Since the recent loss-making months the Hub is on a firmer financial footing, but remains vulnerable to short term ups and downs in our revenue.
- We believe setting the reserve level close to the worst-case model is prudent at this time
- The amount for our 23/24 financial year the reserve amount should be £50,000.
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Page 8
**The Hub-Yeovil Community Support Charity** Trustee Directors’ Report For the Year Ended 31 December 2022
## **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. It is, however, pleasing to note that in April 2023 Somerset Council increased the day rate by 10% which means that the Local Authority recognise the importance of the service.
To mitigate this risk the Charity wants to become less reliant on Local Authority income and plans to continue to increase other sources of income such as grant funding 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. Cash flow is monitored on a daily basis.
## **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.
The Charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
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Page 9
**The Hub-Yeovil Community Support Charity** Trustee Directors’ Report For the Year Ended 31 December 2022
## **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:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departure 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 charitable company will continue in business.
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 3 July 2023 and signed on its behalf by:
N A Downton Trustee
J S McCabe Trustee
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Page 10
**The Hub-Yeovil Community Support Charity** Independent Examiners' Report to the Members and Trustees For the Year Ended 31 December 2022
## **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 2022.
## **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: 7 July 2023
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Page 11
**The Hub-Yeovil Community Support Charity** Statement of Financial Activities (including an Income and Expenditure account) For the Year Ended 31 December 2022
**----- Start of picture text -----**
Unres- Res- Unres- Res-
tricted tricted 2022 Total tricted tricted 2021 Total
Notes £ £ £ £ £ £
Income and endowments from:
Donations and legacies 2 8,178 43,900 52,078 92,331 6,000 98,331
Charitable activities 3 408,021 - 408,021 388,926 - 388,926
Other trading activities 4 78,149 - 78,149 15,329 - 15,329
Interest 26 - 26 - - -
Total income 494,374 43,900 538,274 496,586 6,000 502,586
Expenditure on:
Raising funds 5 38,052 2,499 40,551 14,028 1,257 15,285
Charitable activities 6 524,517 18,707 543,224 439,912 20,157 460,069
Total expenditure 562,569 21,206 583,775 453,940 21,414 475,354
Net income/(expenditure) (68,195) 22,694 (45,501) 42,646 (15,414) 27,232
Transfers between funds 17 15,000 (15,000) - 187,338 (187,338) -
Net movement in funds (53,195) 7,694 (45,501) 229,984 (202,752) 27,232
Reconciliation of funds
-
Total funds brought forward 116,162 116,162 (113,822) 202,752 88,930
Total funds carried forward 62,967 7,694 70,661 116,162 - 116,162
**----- 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.
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Page 12
**The Hub-Yeovil Community Support Charity- Company Registration Number: 07358159** Balance Sheet As at 31 December 2022
**----- Start of picture text -----**
2022 2021
£ £
Notes
Fixed assets
Tangible fixed assets 11 86,890 89,955
Current assets
Stocks 12 1,000 1,000
Debtors 13 8,014 3,236
Cash at bank and in hand 14 2,906 37,987
11,920 42,223
Creditors:
Creditors falling due within one year 15 (28,149) (16,016)
Net current assets (16,229) 26,207
Total net assets 70,661 116,162
The funds of the charity:
Restricted funds 17 7,694 -
Unrestricted funds 17 62,967 116,162
Total charity funds 70,661 116,162
**----- End of picture text -----**
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Page 13
**The Hub-Yeovil Community Support Charity- Company Registration Number: 07358159** Balance Sheet As at 31 December 2022
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 3 July 2023 and signed on their behalf by:
N A Downton Trustee
J S McCabe
Trustee
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Page 14
**The Hub-Yeovil Community Support Charity** Cash flow statement For the Year Ended 31 December 2022
|**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
**Cash flows from financing activities**
Advancement 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|**Total**
**2022**
**£**
(45,501)
22,506
(22,995)
(4,778)
(2,867)
(30,640)
(19,441)
(19,441)
15,000
(35,081)
37,987
(35,081)
2,906|**Total**
**2021**
**£**
27,232
20,074|
|---|---|---|
|||47,306
(2,277)
(11,768)|
|||33,261
(18,128)|
|||(18,128)
-|
|||15,133|
|||22,854
15,133|
|||37,987|
||||
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Page 15
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **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 3-10.
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
## **Going concern**
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
From August 2022 there has been a significant increase in the sales from both the café and scrapstore and the improved performance has continued into 2023. In April 2023 Somerset Council increased the day service fees by 10%. In June 2023 the Hub successfully secured a grant from the National Lottery of £98,197 spread over three years. Furthermore, in March 2023, the charity has reduced management salary costs with the resignation of one of the two part-time CEOs and will not be replacing that position. All of these actions have ensured the recovery of the deficit free reserves of £23,923 and will result in increased reserves in 2023. The trustees consequently have no material uncertainties about the charity’s ability to continue as a going concern.
## 1.3
## **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.
_________________________________________________________________________________________________________
Page 16
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
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.
## 1.4 **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.
## 1.5 **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.
## 1.6 **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.
## 1.7 **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).
## 1.8 **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.
## 1.9 **Cash at bank and in hand**
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.
_________________________________________________________________________________________________________
Page 17
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## 1.10 **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.
## 1.11 **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.
## 1.12 **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.
## 1.13 **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.
## 1.14 **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.
## 1.15 **VAT**
The charity is not VAT registered and therefore all costs are inclusive of VAT.
## 1.16 **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.
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Page 18
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **2 Donations and legacies**
**----- Start of picture text -----**
Unres- Res- 2022 Unres- Res- 2021
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
- -
Donations and gifts 7,178 7,178 15,034 15,034
Gift aid reclaimed - - - 2,500 - 2,500
Grant income 1,000 40,000 41,000 15,000 6,000 21,000
Exceptional government funding
Coronavirus Job Retention
- - - -
Scheme grant* 59,797 59,797
- - - -
Other Covid grants* 3,900 3,900
Total 8,178 43,900 52,078 92,331 6,000 98,331
**----- 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 in 2021 under the governments CJRS which related to staff costs and the funding received was £59,797. This year, funding received was £nil.
* denotes amounts received from government grants
## **3 Incoming from charitable activities**
|Trainee funding
**Total**|**Unres-**
**tricted**
**£**
408,021
408,021|**Res-**
**tricted**
**£**
-
-|**2022**
**Total**
**£**
408,021
408,021|**Unres-**
**tricted**
**£**
388,926
388,926|**Res-**
**tricted**
**£**
-
-|**2021**
**Total**
**£**
388,926|
|---|---|---|---|---|---|---|
|||||||388,926|
||||||||
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Page 19
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **4 Income from other trading activities**
**----- Start of picture text -----**
Unres- Res- 2022 Unres- Res- 2021
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
- -
Café and scrap sales 78,149 78,149 15,329 15,329
Total 78,149 - 78,149 15,329 - 15,329
5 Expenditure on raising funds
Unres- Res- 2022 Unres- Res- 2021
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
Café and shop costs 38,052 2,499 40,551 14,028 1,257 15,285
Total 38,052 2,499 40,551 14,028 1,257 15,285
**----- End of picture text -----**
_________________________________________________________________________________________________________
Page 20
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **6 Expenditure on charitable activities**
|**Note**
**Unres-**
**tricted**
**£**
Staff costs
385,880
Rent and rates
48,980
Heat and light
10,505
Repairs and maintenance
12,980
Insurance costs
5,392
Motor expenses
2,792
Postage and stationery
3,883
Other charitable
expenditure
19,361
Sundry expenses
2,447
Depreciation
22,506
Bank charges
275
Consultancy fees
-
Legal & professional fees
5,316
Accountancy fees
3,000
Governance costs
7
1,200
**Total**
524,517|**Res-**
**tricted**
**£**
10,112
-
-
3,293
-
-
-
3,900
-
-
-
-
1,402
-
-
18,707|**2022**
**Total**
**£**
395,992
48,980
10,505
16,273
5,392
2,792
3,883
23,261
2,447
22,506
275
-
6,718
3,000
1,200
543,224|**Unres-**
**tricted**
**£**
339,465
48,360
6,732
10,343
4,901
1,396
1,991
12,769
3,779
8,912
96
-
1,821
2,354
(3,007)
439,912|**Res-**
**tricted**
**£**
-
3,000
-
-
-
-
-
5,995
-
11,162
-
-
-
-
-
20,157|**2021**
**Total**
**£**
339,465
51,360
6,732
10,343
4,901
1,396
1,991
18,764
3,779
20,074
96
-
1,821
2,354
(3,007)|
|---|---|---|---|---|---|
||||||460,069|
|||||||
## **7 Analysis of governance costs**
## **Governance costs**
|Examination fees
Other fees paid to previous
independent examiners
Independent|**Unres-**
**tricted**
**£**
1,200
-
1,200|**Res-**
**tricted**
**£**
-
-
-|**2022**
**Total**
**£**
1,200
-
1,200|**Unres-**
**tricted**
**£**
1,140
(4,147)
(3,007)|**Res-**
**tricted**
**2021**
**Total**
**£**
**£**
-
1,140
-
(4,147)
-
(3,007)|
|---|---|---|---|---|---|
_________________________________________________________________________________________________________
Page 21
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **8 Net incoming/outgoing resources**
Net incoming/(outgoing) resources for the year include:
**----- Start of picture text -----**
2022 2021
£ £
Operating leases - plant and machinery 1,152 1,152
Operating leases - other assets 48,000 48,000
Depreciation of fixed assets 22,506 20,074
Independent examination fees - current examiner 1,200 1,140
Other accountancy services - current examiner 3,000 2,354
-
Other accountancy services - previous examiner (4,147)
**----- 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 (2021: none).
No trustees have received any reimbursed expenses from the charity during the year (2021: none).
No trustee received payment for professional or other services supplied to the charity (2021: £nil).
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Page 22
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **10 Staff costs**
## **Number of employees**
The average monthly head count was 18 staff (2021: 15 staff).
## **Employment costs**
The aggregate payroll costs were as follows:
**----- Start of picture text -----**
2022 2021
£ £
Wages and salaries 362,818 312,704
Social security costs 25,906 21,695
Pension costs 7,268 5,066
395,992 339,465
**----- End of picture text -----**
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 £50,046 (2021: £57,251).
There were no individuals who received remuneration of £60,000 or more in either year.
## **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 £7,268 (2021: £5,066).
There were no contributions payable to the scheme at the end of the year (2021: £nil).
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Page 23
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **11 Tangible fixed assets**
|**Property**
**Improvements**
**£**
**Cost**
At 1 January 2022
103,140
Additions
-
At 31 December 2022
103,140
**Depreciation**
At 1 January 2022
29,208
Charge for the year
9,905
At 31 December 2022
39,113
**Net book value**
At 31 December 2022
64,027
At 31 December 2021
73,932|**Property**
**Improvements**
**£**
**Cost**
At 1 January 2022
103,140
Additions
-
At 31 December 2022
103,140
**Depreciation**
At 1 January 2022
29,208
Charge for the year
9,905
At 31 December 2022
39,113
**Net book value**
At 31 December 2022
64,027
At 31 December 2021
73,932|**Furniture &**
**Equipment**
**£**
65,908
4,451
70,359
51,509
9,102
60,611
9,748
14,399|**Motor**
**Vehicles**
**£**
6,500
14,990
21,490
4,876
3,499
8,375
13,115
1,624|**Total**
**£**
175,548
19,441|
|---|---|---|---|---|
|||||194,989|
|||||85,593
22,506|
|||||
108,099|
|||||86,890|
|||||89,955|
||||||
|**12**
**Stock**
Stocks
**13**
**Debtors**|||**2022**
**£**
1,000|**2021**
**£**
1,000|
||||||
|Trade debtors|||**2022**
**£**
8,014|**2021**
**£**
3,236|
||||||
_________________________________________________________________________________________________________
Page 24
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **14 Cash and cash equivalencies**
**----- Start of picture text -----**
2022 2021
£ £
Cash in hand 100 167
Cash at bank 2,806 37,820
2,906 37,987
**----- End of picture text -----**
## **15 Creditors: amounts falling due within one year**
**----- Start of picture text -----**
2022 2021
£ £
Trade creditors 8,956 1,776
-
Other taxation and social security 8,710
Other creditors 42 27
Loan 15,000 -
Accruals 4,151 5,503
28,149 16,016
**----- End of picture text -----**
The loan is repayable in equal instalments starting January 2023 and ending 31 December 2023. The loan is interest free and unsecured.
## **16 Obligations under leases and hire purchases contracts**
|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|**2022**
**£**
48,000
192,000
576,000
816,000|**2021**
**£**
48,000
192,000
624,000|
|---|---|---|
|||864,000|
||||
_________________________________________________________________________________________________________
Page 25
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **17 Funds**
**----- Start of picture text -----**
Opening Closing
Balance Income Expenditure Transfers Balance
01.01.22 31.12.22
Unrestricted funds £ £ £ £ £
General
Unrestricted 116,162 494,374 (562,569) 15,000 62,967
Total Unrestricted funds 116,162 494,374 (562,569) 15,000 62,967
Restricted funds
- - -
Somerset Community Foundation 15,000 (15,000)
Screwfix Grant - 5,000 (1,854) - 3,146
Somerset County Council - Covid
Relief - 1,900 (1,900) - -
Dorset County Council - Infection
Control - 2,000 (2,000) - -
Clothworks Foundation - 15,000 - (15,000) -
Founders for Good - 5,000 (452) - 4,548
Total Restricted funds - 43,900 (21,206) (15,000) 7,694
Total funds 116,162 538,274 (583,775) - 70,661
**----- End of picture text -----**
_________________________________________________________________________________________________________
Page 26
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **Funds (continued) – prior year**
|**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
Yarlington Housing Community
Fund
Somerset County Council - Covid|**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**|
||||||
## **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. In the prior year, the charity 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.
_________________________________________________________________________________________________________
Page 27
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
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 (2021) 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.
The Somerset Community Foundation grant was awarded for the CEO attending and passing Somerset Social Entrepreneurs Accelerator Programme and was unrestricted funds which were spent on salaries and marketing of the Hub.
The Screwfix (2022) grant was awarded as a contribution towards installing a changing room facility at the Hub. This has not gone ahead due to escalation in costs.
The Clothworkers Foundation provided an eight- seater vehicle to transport the Hub's trainees to external activities and events.
The Founders for Good grant funded the installation of a digital suite for our trainees within the Hub's premises.
Funds have been transferred in accordance with the SORP followings acquisition of capital items.
_________________________________________________________________________________________________________
Page 28
**The Hub-Yeovil Community Support Charity** Notes to the Financial Statements For the Year Ended 31 December 2022
## **18 Analysis of net assets between funds**
**----- Start of picture text -----**
Unres- Res- 2022 Unres- Res- 2021
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
- -
Tangible assets 86,890 86,890 89,955 89,955
-
Current assets 4,226 7,694 11,920 42,223 42,223
-
91,116 7,694 98,810 132,178 132,178
- -
Creditors due within one year (28,149) (28,149) (16,016) (16,016)
-
62,967 7,694 70,661 116,162 116,162
**----- End of picture text -----**
## **19 Related party transactions**
During the year the charity had the following transactions with related parties:
One trustee donated £5,000 to the charity through Founders for Good (2021: one trustee donated £10,000).
_________________________________________________________________________________________________________
Page 29