2021-03-31-accounts

REGISTERED CHARITY NUMBER: 1161113

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2021 for

Nailsworth Youth Community Enterprise

Nailsworth Youth Community Enterprise

Contents of the Financial Statements for the Year Ended 31 March 2021

	Page
Report of the Trustees	1
Statement of Financial Activities	2
Balance Sheet	3
Notes to the Financial Statements	4 to 6
Detailed Statement of Financial Activities	7

Nailsworth Youth Community Enterprise

Report of the Trustees for the Year Ended 31 March 2021

The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1161113

Principal address

Nailsworth Subscription Rooms Bath Road Nailsworth Gloucestershire GL6 0HH

Trustees

Mrs D Lister Mrs F Bratby L Haines Mrs P M Brown D W Pitt F Ashworth J Duckworth M Davies - resigned 31.10.20 C I McIvor T Shipp M J Peer S Forster - resigned 31.10.20 A Hammond - appointed 25.11.20

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

NYCE, a CIO from 1July 2015 continues the work of charity number 301581 to facilitate the delivery of a programme of recreational and educational activities at Nailsworth Subscription Rooms and its grounds for the people of Nailsworth and surrounding area particularly but not exclusively for young people, whilst maintaining and improving its landmark Victorian building.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Approved by order of the board of trustees on 6 July 2021 and signed on its behalf by:

L Haines - Trustee

Page 1

Nailsworth Youth Community Enterprise

Statement of Financial Activities for the Year Ended 31 March 2021

Unrestricted Restricted fund funds Notes £ £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 10,000 - Activities for generating funds 2 14,713 - Incoming resources from charitable activities Fundraising activities - - Total incoming resources 24,713 - RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 3 5,855 - Fundraising trading: cost of goods sold and other costs - - Investment management costs 4 20,113 - Charitable activities Fundraising activities - - Total resources expended 25,968 - NET INCOMING/(OUTGOING) RESOURCES (1,255) - RECONCILIATION OF FUNDS Total funds brought forward 48,172 - TOTAL FUNDS CARRIED FORWARD 46,917 -	31.3.21 Total funds £ 10,000 14,713 - 24,713 5,855 - 20,113 - 25,968 (1,255) 48,172 46,917	31.3.20 Total funds £ - 21,918 211 22,129 5,090 444 18,554 1,436 25,524 (3,395) 51,567 48,172

The notes form part of these financial statements

Page 2

Nailsworth Youth Community Enterprise

Balance Sheet

At 31 March 2021

Unrestricted Restricted fund funds Notes £ £ CURRENT ASSETS Cash at bank and in hand 46,917 - CREDITORS Amounts falling due within one year 6 - - NET CURRENT ASSETS 46,917 - TOTAL ASSETS LESS CURRENT LIABILITIES 46,917 - NET ASSETS 46,917 - FUNDS 7 Unrestricted funds TOTAL FUNDS	31.3.21 Total funds £ 46,917 - 46,917 46,917 46,917 46,917 46,917	31.3.20 Total funds £ 48,491 (319) 48,172 48,172 48,172 48,172 48,172

The financial statements were approved by the Board of Trustees on 6 July 2021 and were signed on its behalf by:

L Haines -Trustee

Mrs F Bratby -Trustee

The notes form part of these financial statements

Page 3

Nailsworth Youth Community Enterprise

Notes to the Financial Statements for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. ACTIVITIES FOR GENERATING FUNDS

Rental of facilities COSTS OF GENERATING VOLUNTARY INCOME Insurance Light and heat Cleaning and consumables Support costs INVESTMENT MANAGEMENT COSTS Property repairs	31.3.21 £ 14,713 31.3.21 £ 1,458 1,024 2,305 1,068 5,855 31.3.21 £ 20,113	31.3.20 £ 21,918 31.3.20 £ 1,486 1,274 2,330 - 5,090 31.3.20 £ 18,554

3. COSTS OF GENERATING VOLUNTARY INCOME

4.

Page 4

Nailsworth Youth Community Enterprise

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

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|||| |---|---|---| |31.3.21|31.3.20| |£|£| |Trade creditors|-|319|

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||||| |---|---|---|---| |MOVEMENT IN FUNDS| |Net movement| |At 1.4.20|in funds|At 31.3.21| |£|£|£| |Unrestricted funds| |General fund|48,172|(1,255)|46,917| |TOTAL FUNDS|48,172|(1,255)|46,917| |Net movement in funds, included in the above are as follows:| |Incoming|Resources|Movement in| |resources|expended|funds| |£|£|£| |Unrestricted funds| |General fund|24,713|(25,968)|(1,255)| |TOTAL FUNDS|24,713|(25,968)|(1,255)| |Comparatives for movement in funds| |Net movement| |At 1.4.19|in funds|At 31.3.20| |£|£|£| |Unrestricted Funds| |General fund|51,567|(3,395)|48,172| |TOTAL FUNDS|51,567|(3,395)|48,172|

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7. MOVEMENT IN FUNDS

Page 5

Nailsworth Youth Community Enterprise

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

7. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement in
	resources	expended	funds
	£	£	£
Unrestricted funds
General fund	22,129	(25,524)	(3,395)
TOTAL FUNDS	22,129	(25,524)	(3,395)

A current year 12 months and prior year 12 months combined position is as follows:

Net movement At 1.4.19 in funds At £ £ Unrestricted funds General fund 51,567 (4,650) TOTAL FUNDS 51,567 (4,650)	31.3.21 £ 46,917 46,917

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds	Incoming Resources Movement in resources expended funds £ £ £
General fund	46,842 (51,492) (4,650)
TOTAL FUNDS	46,842 (51,492) (4,650)

Page 6

Nailsworth Youth Community Enterprise

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

INCOMING RESOURCES Voluntary income Grants Activities for generating funds Rental of facilities Incoming resources from charitable activities Open Day Contributions Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Insurance Light and heat Cleaning and consumables Fundraising trading: cost of goods sold and other costs Purchases Investment management costs Property repairs Support costs Management Postage and stationery Advertising Sundries Loss on sale of heritage asset Other Rates and water Other 4 Accountancy and legal fees Total resources expended Net expenditure	31.3.21 £ 10,000 14,713 - 24,713 1,458 1,024 2,305 4,787 - 20,113 - 58 244 - 302 676 90 25,968 (1,255)	31.3.20 £ - 21,918 211 22,129 1,486 1,274 2,330 5,090 444 18,554 18 104 246 269 637 799 - 25,524 (3,395)

This page does not form part of the statutory financial statements

Page 7