ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1159158
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Pages 4 to 5 | Trustees' Report |
| Page 6 | Independent Examiner's Report |
| Page 7 | Statement of Financial Activities |
| Page 8 | Balance Sheet |
| Pages 9 to 16 | Notes to the Financial Statements |
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
1159158
DATE OF REGISTRATION 11th November 2014 START OF FINANCIAL YEAR 1st April 2021 END OF FINANCIAL YEAR 31st March 2022 TRUSTEES AT 31ST MARCH 2022 Catherine Whittingham Nick Whittingham Carol Bailey Jennifer Edwards Anna Seabourne Hilary Fisher Mark Andrews Rosaleen Hird Michael Wilcock (Appointed 17th May 2021) Mark Andrews (Appointed 7th February 2022) John Allatt (Resigned 8th July 2022) LEGAL STATUS Charitable Incorporated Organisation
GOVERNING INSTRUMENT
CIO - Foundation Registered 11th November 2014
OBJECTS
1 . To promote the benefit of the habitants of the former urban district of Mirfield and surrounding area, in particular young persons without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together with the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education, and provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants; 2 . To establish , or secure the establishment of, a community centre and to maintain and manage the same (whether alone or in co-operation with any local authority or other person or body) in furtherance of these objects.
CORRESPONDENCE ADDRESS Mirfield Community Centre Water Royd Lane Mirfield WF14 9SG PRIMARY BANKERS NatWest Bank Plc Dewsbury West Yorkshire WF13 1EA INDEPENDENT EXAMINERS Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2022
Objectives and Activities
To promote the benefit of the inhabitants of Mirfield and surrounding areas, in particular young persons without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together with the inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education, and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life. To establish, or secure the establishment of a community centre and to maintain and manage it (whether alone or in cooperation with any local authority or other person or body) in furtherance of these objects.
The Charity runs the Mirfield Community Centre, a 100 year old building that was previously a school. The building was acquired by MCT in 2018 from the local authority. Rooms are hired out to local groups to facilitate a variety of activities, including - Exercise, dance, martial arts, arts and crafts, education, children's support groups, adult support, dementia support, parent and toddler support, dog training, and coffee mornings and a variety of other groups. The Centre is used by a wide range of users.
The building is also used as a polling station for local and national elections.
For much of this year we have been subject to some level of restrictions as a result of the Covid 19 pandemic, although easing. This has meant that the Community Centre was not able to be used by the public for some of the time, although we have increasingly been able to open up the centre and welcome back groups and events. We have been fortunate to receive support grants which have made up for some of the resulting reduction in income.
MCT also owns some land that is part field and woodland. This land was part of the Gilder Hall estate, which was bequeathed by Anne Robinson in 1912 to the youth of Mirfield. Under Council ownership the buildings became disused and were demolished in 2004. The land was registered to Kirklees Council in 2006 and transferred to MCT in 2008. The land is currently used by a Junior Football Club for their younger age group teams. The Charity is in the process of writing a development plan including plans for this land. The plan outlines running a consultation with local residents, asking for there input on what the Gilder Hall land can me used for. We hope to set up a “Friends of the Gilder Hall Woodland” in which volunteers would help to maintain the area. We plan to apply for grants so that the Charity can enlarge the woodland area, put in paths and turn a section of it into a wildlife area for the residents of Mirfield. These plans have been delayed by restrictions arising from the Covid 19 pandemic.
Achievements and Performance
The Community Centre building has been maintained during this period with essential maintenance carried out as required. We have developed plans both to re-open the centre and to put in place a funded program of improvements which started in 2022 with replacement of the heating system and improvements to toilet facilities. Further funding has been secured to continue with the development plan through 2022 and into 2023.
We have welcomed back groups to the Community Centre and were pleased to be able to run the Xmas Fair and Polar Express events in November and December.
MCT has put on a variety of activities for children during the summer and half terms holidays. These holiday clubs are for children who would normally have free school meals. A variety of activities and crafts are run at these clubs, as well as providing the children with breakfast, a snack and lunch.
The Gilder Hall land has remained available for youth football when permitted. We continue to work on plans to extend access for youth sport as well as making environmental improvements to the woodland area.
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST MARCH 2022
Additional Governance Issues
These are the policies and documents that all trustees read and agree to. All policies were rewritten in 2019 and are now reviewed annually. There is a specific Trustee responsible for each policy.
Code of Behaviour Policy Conflict of Interest Policy Equality and Diversity Policy and Procedure Finance Policy and Procedure GDPR Policy Health and Safety Policy and Procedure Safeguarding Policy and Procedure Volunteering Policy and Procedure Respect Policy Terms and Conditions of Hire of rooms
Financial Review
The policy of the charity is that cash reserves will cover between three and six months operating costs based on comparison with annual budget.
The Trustees will be mindful that the Community Centre building may require significant maintenance from time to time (e.g. a new roof) and may designate specific additional reserves as required. Currently £50,000 is designated as a general reserve.
The principal source of fundraising is via the hiring of rooms to local groups, charities, businesses and corporate bodies and the local authority. The Charity has also received grants from the Local Authority to run the children's “Healthy Holidays Club”. This income has been severely reduced during the year as a result of Covid 19 restrictions, but this loss of income has been offset by support grants received and overall our income remains similar to last year.
The Charity also receives a small amount of funds each year from the football club that hires the Gilder Hall land. This covers the cost of having the grass cut.
Trustees' Responsibilities
The Charities Act 2011 require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the surplus of the CIO for that period. In preparing those financial statements the trustees are required to:
-
Select suitable accounting policies and apply them consistently
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Make judgements and estimates that are reasonable and prudent
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Prepare financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in existence.
The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the CIO. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
5th December 2022
Approved by the Trustees on …………………………………………………………………………………………………………………
Signed on their behalf by Trustee ……………………………………………………………………………………………………………
Printed Name:
N E Whittingham
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MIRFIELD COMMUNITY TRUST ICharrtal)1g IrbcofpoTated Of9anisatK)n) INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Ret)tsrt to the trusteesl rnernt of mirrj Communty Trust on thè ao>)unts for thg year ende(131st March 2022 sel o on pages 7 to 16. Rgspe¢tlv• r•ipon8lb1llo9 of tru¥ttse• and •Mmlrb¢r Thg Charitys trust88s aw r8sp)n8ible for tho preparatwjn of the t))unt& Th8 charity's Iru5te8s consider that an 8udit is not requlred for thSs year unilgr sec1K 144 of Charl$ Act 2011 (the Charities Act) and that an independ&nt axaminatson is 116$ my iesponsibility to.. 8xamlne ihe accounts under sectlon 145 of the Ch•ittes A¢L to follow thtr proceduras laKI down in th8 genor31 thrections givgn by Charity CommSssion lunder secllon 14515llbl of thg Charit9 Act, and to slate whether particular matters have com8 to my attentK)n Basss of Ind•pond•nt 8xamln•e* tht•m•Tht My examlnation was carrfed out In )rdance general Dn¢tK•ns given by Charity Commission. An 8xarnination Includgs a r&v¢ew ol Ihe accounung records bpi by the charty and 8 comparison of the a¢¢ounts pSent wmh those records. It also includes con$hJgralion of any unusual Ilems or discthures in the pLcounts. arKI seekiro explanations from the ITUStoas CorrnIng any such matt8r8. The Frfocedures undertaken th) rt provkle all the evidence thal would be roquir¢d in an audlL and ¢on60quonily no opinan16 given a$ to vthethor th8 accounts presenl a and f4if' Viow and the rgport 1$ limited to those matters $81 ¢xrt In the stslemént tdow. Ind•pondont examln•r's 8lal•m•nt In connection wlth my examlnation. no matter has come lo my attention.. %yhith 9lve8 me reasonable eau8e io bdieve that in. any malerial mJpeGI. the requirem&nts.' to keep a¢counting records in xcordance wrth section 130 of th• Charities Ac( and lo prepare aCnIS 4th1¢h accord the accounts'ThJ records and CoMY with thè 8¢o)unbng requlremonts of the Charit188 Act have not been meL' or lo whlth. In my oponlon, attenti( shId be dr¥4¥n in ryder lo enable a FKopor ur¥JoT5tarKling of tho accounts lo be reached. L Collaku MMT Castle View AOuntIng Ltd New Barn Mudberry Lane Bosham Chichester Wast Sussex P018 8TS ][//,' Date.. 25th January 2023
MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Activities for Generating Funds 3b Other Incoming Resources 3c TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2021/22 2020/21 £ £ £ £ 22,276 9,080 31,356 20,406 21,634 - 21,634 21,332 177 - 177 186 44,087 9,080 53,167 41,924 29,956 - 29,956 46,139 1,162 - 1,162 650 31,118 - 31,118 46,789 12,969 9,080 22,049 (4,865) 221,173 1,603 222,776 227,641 234,142 10,683 244,825 222,776 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 9 to 16 form part of these financial statements.
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
BALANCE SHEET AS AT 31ST MARCH 2022
| Note Fixed Assets Tangible Assets 2 Investments 6 Total Fixed Assets Current Assets Debtors & Prepayments 8 Cash at Bank and in Hand 7 Total Current Assets 9 NET CURRENT ASSETS TOTAL ASSETSless current liabilities 10 NET ASSETS Funds of the Charity General Funds Restricted Funds 5 Total Funds Creditors:Long Term Liabilities Creditors:Amounts due within one year |
Unrestricted Restricted Total Total Funds Funds 31-Mar-22 31-Mar-21 £ £ £ £ 223,500 - 223,500 165,000 - - - - 223,500 - 223,500 165,000 411 - 411 811 65,049 10,683 75,732 57,615 65,460 10,683 76,143 58,426 14,783 - 14,783 650 50,677 10,683 61,360 57,776 274,177 10,683 284,860 222,776 40,035 - 40,035 - 234,142 10,683 244,825 222,776 234,142 - 234,142 221,173 - 10,683 10,683 1,603 234,142 10,683 244,825 222,776 |
|---|---|
5th December 2022
Approved by the Trustees on …………………………………………………………………………………………………………………
Signed on their behalf by Trustee …………………………………………………………………………………………………………… Printed Name: N E Whittingham
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment 25% - Reducing Balance Basis Capital Improvements 10% - Straight Line Basis
Amortisation
No amortisation is charged to freehold Land and Buildings as the Land and Buildings is maintained to such a standard that the estimated residual value is not less than cost.
Changes in Accounting Policies and Methods of Accounting
There has been no change to the accounting policies (variation rules and methods of accounting) since last year.
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
2. TANGIBLE FIXED ASSETS
| Cost 01-Apr-21 Additions Net Book Value at 31-Mar-22 Depreciation 01-Apr-21 Charge Depreciation at 31-Mar-22 Net Book Value 31-Mar-22 Net Book Value 31-Mar-21 |
Land & Gilder Hall Capital Fittings & Total Building Land Improvements Equipment 202122 £ £ £ £ £ 150,000 15,000 - - 165,000 - - 65,000 - 65,000 150,000 15,000 65,000 - 230,000 - - - - - - - 6,500 - 6,500 - - 6,500 - 6,500 150,000 15,000 58,500 - 223,500 150,000 15,000 - - 165,000 |
|---|---|
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2022 : None
31st March 2021 : None
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
3. INCOMING RESOURCES
| Note a) Donations, Grants & Legacies Gifts & Donations 5 Grants Received b) Activities for Generating Funds Centre Hire Fundraising Income c) Other Incoming Resources Sundry Income |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2021/22 2020/21 £ £ £ £ 426 9,080 9,506 975 21,850 - 21,850 19,431 22,276 9,080 31,356 20,406 21,634 - 21,634 20,932 - - - 400 21,634 - 21,634 21,332 177 - 177 186 177 - 177 186 |
|---|---|
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
4. RESOURCES EXPENDED
| Note a) Cost of Charitable Activities Activities & Events Depreciation Expense Fundraising Costs Insurance Costs Office Costs Rent & Rates Repairs & Maintenance Staff Costs 12 Sundry Expenses Utility Costs ` b) Governance Costs Independent Examiners Fees 9 Legal & Professional Fees |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2021/22 2020/21 £ £ £ £ - - - 5,581 6,500 - 6,500 - 1,725 - 1,725 - 3,450 - 3,450 3,310 808 - 808 876 553 - 553 542 6,728 - 6,728 24,683 2,600 - 2,600 2,694 - - - 1,134 7,592 - 7,592 7,319 29,956 - 29,956 46,139 700 - 700 650 462 - 462 - 1,162 - 1,162 650 |
|---|---|
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| Community Garden Fund Kitchen Project PREVIOUS FINANCIAL YEAR Community Garden Fund |
Balance Balance 01-Apr-21 Income Expenditure Transfers 31-Mar-22 £ £ £ £ £ 1,603 2,700 - - 4,303 - 6,380 - - 6,380 1,603 9,080 - - 10,683 Balance Balance 01-Apr-20 Income Expenditure Transfers 31-Mar-21 £ £ £ £ £ 1,603 - - - 1,603 1,603 - - - 1,603 |
|---|---|
Restricted funds are wholly represented by the charity's cash reserves and are to be expended as specified above.
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
6. INVESTMENTS
The CIO held no fixed assets investments during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| Cash at Bank & in Hand 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Restricted Total Total Fund Fund 31-Mar-22 31-Mar-21 £ £ £ £ 65,049 10,683 75,732 57,615 65,049 10,683 75,732 57,615 Unrestricted Restricted Total Total Fund Fund 31-Mar-22 31-Mar-21 £ £ £ £ 411 - 411 811 411 - 411 811 |
|---|---|
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiners Fees Sundry Creditors |
Unrestricted Restricted Total Total Fund Fund 31-Mar-22 31-Mar-21 £ £ £ £ 700 - 700 650 14,083 - 14,083 - 14,783 - 14,783 650 |
|---|---|
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
| Key Fund Loan | Unrestricted Restricted Total Total Fund Fund 31-Mar-22 31-Mar-21 £ £ £ £ 40,035 - 40,035 - 40,035 - 40,035 - |
|---|---|
11. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Total Funds Funds 31-Mar-22 31-Mar-21 £ £ £ £ 223,500 - 223,500 165,000 50,677 10,683 61,360 57,776 40,035 - 40,035 - 234,142 10,683 244,825 222,776 |
|---|---|
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
12. STAFF COSTS AND NUMBERS
| TOTAL 2021/22 £ Gross Wages and Salaries 2,600 Employer's National Insurance Costs - Pension Contributions - 2,600 Employees who were engaged in each of the following activities: TOTAL 2021/22 Activities in furtherance of organisation's objects 2 |
TOTAL 2020/21 £ 2,694 - - - TOTAL 2020/21 2 |
|---|---|
The Charity operates a PAYE scheme to pay all members of employed staff. The Charity also employs self employed staff and no employees received emoluments in excess of £60,000. (2020/21:None)
13. TRUSTEES AND OTHER RELATED PARTIES
During the financial year Ms. S Fisher (Daughter of Trustee Mrs H. Fisher) received £2,893 (2020/21:£2,567) in salary related payments in her capacity as Youth Coordinator in furtherance of the Charity's objects.
The only other payments made to the Trustees consisted of reimbursements of expenses incurred in furthering the Charity's objects and no direct benefits were received by the Trustees during the financial year.
No other payments were made to the Trustees or any persons connected with them during this financial period. No other material transaction took place between the organisation and a Trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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