REGISTERED CHARITY NUMBER: 1161113
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2022 for
Nailsworth Youth Community Enterprise
Nailsworth Youth Community Enterprise
Contents of the Financial Statements for the Year Ended 31 March 2022
| 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 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. 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 - resigned 24.11.21 F Ashworth J Duckworth C I McIvor T Shipp M J Peer A Hammond D A Parker - appointed 24.11.21
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 23 November 2022 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 2022
| Unrestricted Restricted fund funds Notes £ £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income - - Activities for generating funds 2 26,355 - Total incoming resources 26,355 - RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 3 8,330 - Investment management costs 4 3,314 - Total resources expended 11,644 - NET INCOMING/(OUTGOING) RESOURCES 14,711 - RECONCILIATION OF FUNDS Total funds brought forward 46,917 - TOTAL FUNDS CARRIED FORWARD 61,628 - |
31.3.22 Total funds £ - 26,355 26,355 8,330 3,314 11,644 14,711 46,917 61,628 |
31.3.21 Total funds £ 10,000 14,713 24,713 5,855 20,113 25,968 (1,255) 48,172 46,917 |
|---|---|---|
The notes form part of these financial statements
Page 2
Nailsworth Youth Community Enterprise
Balance Sheet
At 31 March 2022
| Unrestricted Restricted fund funds Notes £ £ CURRENT ASSETS Cash at bank and in hand 61,629 - CREDITORS Amounts falling due within one year 6 (1) - NET CURRENT ASSETS 61,628 - TOTAL ASSETS LESS CURRENT LIABILITIES 61,628 - NET ASSETS 61,628 - FUNDS 7 Unrestricted funds TOTAL FUNDS |
31.3.22 Total funds £ 61,629 (1) 61,628 61,628 61,628 61,628 61,628 |
31.3.21 Total funds £ 46,917 - |
|---|---|---|
| 46,917 | ||
| 46,917 | ||
| 46,917 | ||
| 46,917 | ||
| 46,917 |
The financial statements were approved by the Board of Trustees on 23 November 2022 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 2022
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 3. COSTS OF GENERATING VOLUNTARY INCOME Insurance Light and heat Cleaning and consumables Support costs 4. INVESTMENT MANAGEMENT COSTS Property repairs |
31.3.22 £ 26,355 31.3.22 £ 1,514 1,086 3,756 1,974 8,330 31.3.22 £ 3,314 |
31.3.21 £ 14,713 |
|---|---|---|
| 31.3.21 £ 1,458 1,024 2,305 1,068 5,855 31.3.21 £ 20,113 |
Page 4
Nailsworth Youth Community Enterprise
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022
nor for the year ended 31 March 2021 .
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
7.
| 31.3.22 | 31.3.21 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors | 1 | - | |
| MOVEMENT IN FUNDS | |||
| Net movement | |||
| At 1.4.21 | in funds | At 31.3.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 46,917 | 14,711 | 61,628 |
| TOTAL FUNDS | 46,917 | 14,711 | 61,628 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 26,355 | (11,644) | 14,711 |
| TOTAL FUNDS | 26,355 | (11,644) | 14,711 |
| Comparatives for 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 |
Page 5
Nailsworth Youth Community Enterprise
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
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 | 24,713 | (25,968) | (1,255) |
| TOTAL FUNDS | 24,713 | (25,968) | (1,255) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1.4.20 in funds At £ £ Unrestricted funds General fund 48,172 13,456 TOTAL FUNDS 48,172 13,456 |
31.3.22 £ 61,628 |
|---|---|
| 61,628 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 51,068 | (37,612) | 13,456 |
| TOTAL FUNDS | 51,068 | (37,612) | 13,456 |
Page 6
Nailsworth Youth Community Enterprise
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| INCOMING RESOURCES Voluntary income Grants Activities for generating funds Rental of facilities Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Insurance Light and heat Cleaning and consumables Investment management costs Property repairs Support costs Management Postage and stationery Advertising Sundries Human resources Software licences Other Rates and water Other 4 Accountancy and legal fees Total resources expended Net income/(expenditure) |
31.3.22 £ - 26,355 26,355 1,514 1,086 3,756 6,356 3,314 49 56 417 522 360 - 1,092 11,644 14,711 |
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) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 7