2021-03-31-accounts - Leigh Neighbours Project

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LEIGH NEIGHBOURS PROJECT

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR

THE YEAR ENDED MARCH 31 2021

Charity number 1161291

LEIGH NEIGHBOURS PROJECT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2019

I NDEX

Administrative information	1
Trustees’ annual report	2 – 5
Independent Examiner’s report	6
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	9 – 15

LEIGH NEIGHBOURS PROJECT ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED MARCH 31 2021

TRUSTEES H Ahmed B Burton J Eckersley C Farnworth (resigned October 1 2021) J Gredecki S Gredecki N Ratcliffe (appointed 21/04/20) A Sharrock (appointed 21/04/20) REGISTERED OFFICE AND 129 Walmesley Road PRINCIPAL PLACE OF BUSINESS Leigh WN7 1XN INDEPENDENT EXAMINER Peter Smith BA FCA DChA & ACCOUNTANTS HGA Accountants & Financial Consultants Ltd t/a Chittenden Horley - Chartered Accountants 456 Chester Road Old Trafford Manchester M16 9HD BANKERS Co-operative Bank plc PO Box 250 Delf House Southway Skelmersdale WN8 6WT

LEIGH NEIGHBOURS PROJECT TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

The trustees present their annual report together with the financial statements of the charity for the year ended March 31 2021.

REPORTING FRAMEWORK

The financial statements comply with the Charities Act 2011, the foundation document, and 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 (FRS102) (effective 1 January 2019), referred to as the Charities SORP (FRS 102) (second edition – October 2019).

OBJECTIVES AND ACTIVITIES

Chartable objects

The charitable objectives are:

The promotion, for the benefit, of the public, of urban regeneration in the are of Leigh bounded by Twist lane, Atherleigh Way, Kirkall Lane and Leigh Road/Market Street/King Street by the following means:

(a) The advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience:
(b) The provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need, through help: (i) in setting up their own business, or
(ii) to existing businesses:
(c) The provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing:
(d) The provision or assistance in the provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, financial; hardship or social and economic circumstances, have need of such facilities;
(e) The promotion of public safety and the prevention of crime.

Activities

The charity undertakes a wide variety of activities in order to achieve its objectives. Primarily these include:

Developing community facilities
Promoting community spirit by way of the big Lunch events and activities, summer arts projects, and residents’ fund bids;
Improving crime and community safety including a ‘Be Seen, Be safe’ campaign and ‘Stop and Lock’ community safety campaign run in partnership with Greater Manchester police; and
Providing education, employment and training assistance through an apprenticeship scheme.

Public benefit

The trustees have had regard to the Charity Commission guidance on public benefit in deciding what activities the charity should undertake. As described briefly earlier, Trustees have delivered a range of events and activities which deliver a public benefit for the specific area of Leigh where the charity operates. These have included:

the establishment of a community allotment on public land on Railway Road. This is a space where herbs, vegetables and fruit are grown for public consumption by Trustees with the help and support of local resident volunteer.
the continued development of a community garden on Gordon Street. This is a green community space which provides a haven for local residents. The garden is managed a Trustee and her husband and is supported by local children who have formed themselves into a 'Gardening Gang'.
Financial support for primary age children to attend the Sacred Heart Summer School - a learning week for local children during the summer holidays designed to minimise the effects of the 'Summer Dip'. Twenty children from the area who wouldn't ordinarily qualify for the scheme are sponsored and enjoy the educational and social benefits of the scheme.
The distribution of funds for local projects which serve to provide improvements to the area, such as the environmental improvements to the Selwyn Street backs or the refurbishment of the KIngsleigh Community Centre.

LEIGH NEIGHBOURS PROJECT TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

ACHIEVEMENTS AND PERFORMANCE

This was an unprecedented year for Leigh Neighbours Project as for every other organisation, following the lockdown announcement on 23[rd] March 2020. The building at 14 Walmesley Road had to shut down, all physical meetings were suspended, and the Trustees, Partnership Board Members and Officers joined the world of Zoom Meetings.

Leigh Neighbours Project continued to deliver against its Big Local Community Plan:

Community Facilities:

Plans to develop the Leigh Neighbours base at 14 Walmesley Road continued but serious structural defects were identified with the building making it unsafe to use. (Following negotiations with the landlord, Wigan Council, the lease was terminated by mutual agreement on 30[th] September 2021.)

Community Spirit:

Supported local VE Day Celebration with a grant from the Residents Fund;
Launched the Butterfly Project, using the butterfly as a symbol of hope, to represent residents currently cocooned in their houses in lockdown, and emerging from their chrysalis as spring arrived and restrictions were lifted.

Community Spirit

Our Art Neighbourhood Wall of Fame installed, showcasing artwork produced by local children to celebrate the people from Leigh;
Hosted on-line coffee mornings to support local residents during lockdown

Crime and Community Safety

Hosted Peace Foundation workshop and GMP Police Surgery and provided support to workers

Education, employment and training

Financial support provided for local pupils to attend the Sacred Heart Primary School Summer School;
Held summer holiday and half term holiday school craft clubs;
Provided financial support to local schools to provide children with IT resources to enable them to participate in remote and home learning.

Environment

Ongoing maintenance of the community garden and the community allotment

Financial Matters:

Provided financial support for local foodbanks and schools at Christmas;
Provided Covid-19 hardship donations to local schools, foodbanks and the Council Covid-19 Hub;
Provided funding, through the ‘Resident’s Fund’ initiative, to local charities and residents, including grants to Leigh Film Society and Leigh St Mary’s Primary School.

Health

The Bike Library reopened in June 2020 provided bikes for loan to local adults and children – part of the activation activities around the active travel neighbourhood plans

Housing

The purchase of two terraced houses on Selwyn Street were completed. Total renovation was required on both properties and this work started during the year;
Working with the Tenants Champion, a Wigan Council Officer dedicated to working with private rented sector tenants and landlords in the Leigh Neighbours area to tackle issues of poor property standards, management and community cohesion.

LEIGH NEIGHBOURS PROJECT TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

Traffic & Transport

Held Dr Bike workshop, a bike safety and repair workshop where people of all ages had their bikes repaired and received safety advice, Hi-Viz jackets, lights and other safety equipment. Overall, 29 bikes serviced / repaired.

Leigh Neighbours Project has also undertaken lots of ‘behind the scenes’ on progress strategic initiatives on the Big Local Plan:

Attended Big Local online events to share ideas with other Big Local areas
The extensive effort required to share the work of the project through social media Facebook and Twitter) and the project website
Work commenced on a total redesign of the website (launched September 2021)

FINANCIAL REVIEW

Overview

The charity had a surplus, before transfers, on unrestricted funds of £24,390 for the year, as the charity continues to be able to add to its unrestricted funds to ensure that there are funds available to enable it to operate beyond the life of the current funding regime.

During the year the charity purchased to properties which at the year end it was in the process of refurbishing prior to letting at an affordable rent. The purchase and refurbishment are funded by the lottery grant, and a transfer has been made from restricted to unrestricted funds equal to the costs incurred up to March 31 2021.

Reserves

Because of the nature of the lottery grant funding which the charity receives it doesn't have a formal reserves' policy - because unspent monies at the end of a funding cycle have to be returned. The charity has established a 'Legacy Fund' which contains funds which have been generated. This fund will be used once the lottery grant fund has been exhausted.

Free reserves, unrestricted funds not invested in fixed assets or otherwise designated, stood at £97,515 at the year end.

Going concern

The trustees have no concerns about the charity’s ability to continue as a going concern as it continues to enjoy the benefit of the lottery funding and has established the legacy fund.

FUTURE PLANS

The current three-year Big Local Plan (approved in October 2018) has been extended by 6 months. The charity has returned to inperson meetings and to work through the actions in the Plan which includes a range of projects, initiatives and events which will deliver significant public benefit.

Trustees are also working on the Plan from April 2022 onwards, which will also include their Legacy Statement, and sustainability plans going forward after the end of Big Local Funding.

Once the renovation of the houses in Selwyn Street are finished, the intention is for them to be rented to local residents who are in housing need (via Wigan Council’s Ethical Letting Agency).

STRUCTURE GOVERNANCE AND MANAGEMENT

Governing document

The charity is a Charitable Incorporated Organisation, registered with the Charity Commission, governed by its foundation model constitution dated April 15 2015, as amended on April 30 2020.

Members of the charity

The only members of the charity are its trustees

Appointment of trustees

The trustees are appointed by resolution of the trustees for a term of four years.

LEIGH NEIGHBOURS PROJECT TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

Trustee induction and training

The charity has an established process whereby prospective members are screened and make a formal written application to join. A secret ballot is held and those successful applicants receive an induction pack which includes documents such as the Code of Conduct and Values.

Organisation

The charity meets on a monthly basis and deals with a range of strategic and operational matters at these meetings. It contracts officers to help deliver the Community Plan and to provide professional expertise and advice with regard the management of funds and the delivery of a Communications and PR strategy. Scrutiny of applications for funding, the accounts and financial management generally is delegated to a Finance Committee, which meets on a monthly basis. All delegated decisions are approved by the full Trustee Board.

Related parties

There are no related party transactions that are required to be disclosed.

Co-operation with other organisations/charities

The charity works closely with other organisations in the area such as the foodbank and local residents’ groups.

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP (FRS 102) (second edition – October 2019);
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

APPROVAL

Approved by the Trustees and signed on its behalf by:

S Gredecki

S Gredecki – trustee

Date: 10/11/21

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE LEIGH NEIGHBOURS PROJECT FOR THE YEAR ENDED MARCH 31 2021

I report to the charity trustees on my examination of the accounts of the charity for the year ended March 31 2021 which are set out on pages 7 to 15.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Peter Smith

Peter Smith BA FCA DChA

HGA Accountants & Financial Consultants Ltd t/a Chittenden Horley - Chartered Accountants

456 Chester Road Old Trafford Manchester M16 9HD Date:15/11/21

LEIGH NEIGHBOURS PROJECT STATEMENT OF FINANCIAL ACTIVITIES (including the income and expenditure account) FOR THE YEAR ENDED MARCH 31 2021

Notes Incoming resources from generated funds: Donations 2 Charitable activities 3 Investment income - bank interest TOTAL INCOME EXPENDITURE Expenditure on charitable activities 4 TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) BEFORE TRANSFERS Transfers between funds NET MOVEMENT IN FUNDS 6 TOTAL FUNDS BROUGHT FORWARD 11 TOTAL FUNDS CARRIED FORWARD 11	Unrestricted Funds £ - 23,995 395	Restricted Funds £ - 282,003 -	Total Total 2021 2020 £ £ - 229 305,998 102,014 395 593 306,393 102,836 99,257 100,158 99,257 100,158 207,136 2,678 - - 207,136 2,678 132,648 129,970 339,784 132,648
	24,390	282,003
	-	99,257
	-	99,257
	24,390 140,802	182,746 (140,802)
	165,192 72,625	41,944 60,023
	237,817	101,967

The notes on pages 9 to 15 form part of these financial statements.

LEIGH NEIGHBOURS PROJECT BALANCE SHEET AS AT MARCH 31 2021

Notes FIXED ASSETS Tangible fixed assets 8 CURRENT ASSETS Debtors 9 Cash at Bank and in Hand CREDITORS Amounts falling due in one year 10 NET CURRENT ASSETS TOTAL NET ASSETS FUNDS Unrestricted 11 Restricted 11 TOTAL FUNDS	2021 £ - 202,799	2021 2020 2020 £ £ £ 140,302 - 3,002 134,416 137,418 4,770 199,482 132,648 339,784 132,648 237,817 72,625 101,967 60,023 339,784 132,648
	202,799 3,317

The notes on pages 9 to 15 form part of these financial statements

Approved by the Trustees and authorised for issue on: 10/11/21

S Gredecki

S Gredecki - Trustee

LEIGH NEIGHBOURS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

1 ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared: under the historic cost convention; 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 January 1 2019 (second edition – October 2019); FRS102; and the Charities Act 2011 and UK Generally Accepted Practice.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The charity constitutes a public benefit entity as defined by FRS102.

The accounts are prepared in £ sterling, which is the functional currency of the charity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income recognition

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The following applies to particular types of income:

Grants , whether of a capital or revenue nature, are recognised when the charity has entitlement to the funds, any performance conditions have been met and it is probable that the income will be received.

Donations from individuals and other bodies (not being of the nature of a grant) are recognised when receivable.

Deferred income

Income is only deferred and included in creditors when:

The income relates to a future accounting period
A sales invoice has been raised ahead of the work being carried out and there is no contractual entitlement to the income until the work has been done
Not all the terms and conditions of the grant have been met, including the incurring of expenditure and the grant conditions are such that unspent grant must be refunded

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds

including those associated with fundraising activities, managing investments and commercial trading by the subsidiary company.

Charitable activities costs of undertaking the work of the charity.

The charity is not registered for VAT and cannot recover any input tax charged. Costs are stated inclusive of VAT were charged.

Allocation of support costs

Support costs are those functions which assist the work of the charity either by supporting the delivery of charitable activities or by supporting the generation of funds. The basis of allocations is set out in note 5.

LEIGH NEIGHBOURS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

1 ACCOUNTING POLICIES (continued)

Grants

As part of the Big Local funding the charity makes grants to local residents for any purpose that meets the community plan. As part of the Big Local Funding the charity makes grants to local organisations to improve the environment and community facilities and to relieve hardship and poverty.

Grant commitments are recognised when the grant is awarded.

Tangible fixed assets and depreciation

Individual fixed assets costing more than £1,000 are capitalised at cost and are depreciated over their estimated useful lives. The charity does not currently have any fixed assets.

Debtors

Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

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 normally recognised at their settlement amount.

Financial instruments

The charity has only basic financial instruments which are initially recorded at cost, subsequently measured at their settlement value.

LEIGH NEIGHBOURS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

Unrestricted	2021 Restricted	Total	Unrestricted	2020 Restricted Total
£ -	£ -	£ -	£ 229	£ £ - *229* - *229* 83,025 *87,176* - *400* 972 *972* - *13,466* 83,997 *102,014*
-	-	-	229
	279,903 - - 2,100 - -	293,898 - - 2,100 10,000 -	4,151 400 - 13,466
23,995	282,003	305,998	18,017

- -	267 19,517	267 19,517	- -
-	19,784	19,784	-
32,529 16,533 1,353 88 28,970 (79,473)	- - - - - 79,473	32,529 16,533 1,353 88 28,970 -	29,600 14,348 13,706 2,868 24,536 (85,058)
-	79,473	79,473	-
-	99,257	99,257	-

Grants awarded

Individuals : As part of the Big Local funding the charity makes grants to local residents for any purpose that meets the community plan. During the year it made two grants ( 2020 - none).

Grants to institutions

As part of the Big Local Funding the charity makes grants to local organisations to improve the environment and community facilities and to relieve hardship and poverty. Grants are analysed as follows:

Atherton & Leigh Foodbank Compassion in Action Leigh Central Primary School Leigh Film Society Leigh St Mary's Primary School Riverside HA Rotary Club of Astley Sacred Heart Catholic Church ST John CE Infant School Turnpike (Leigh) CIC Well Women's Centre Wigan Council re Cultural Event	2021 2020 £ £ 1,000 1,000 1,000 500 5,000 6,960 500 - 4,500 1,000 - 236 - 500 7,017 3,000 - 500 - 500 - 404 500 500 19,517 15,100

LEIGH NEIGHBOURS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

5 SUPPORT & GOVERNANCE COSTS

*Support costs* Finance services Accountancy Insurance Premises costs Office costs & other costs *Total support costs*	Governance	Other support Costs 2021	Total	Governance	Other support Costs Total 2020
	£ 939 1,308 - - 14	£ 17,839 - 605 7,993 272	£ 18,778 1,308 605 7,993 286	£ 595 1,179 - - 36	£ £ 11,313 *11,908* - *1,179* 605 *605* 10,124 *10,124* 684 *720* 22,726 *24,536*
	2,261	26,709	28,970	1,810

Costs that can be wholly attributed to either support or governance are allocated directly to those functions, and other costs are allocated either on the basis of the estimation of time spent (staff costs) or consumption of resources (office costs).

6 NET INCOMING RESOURCES AFTER TRANSFERS This is stated after charging/(crediting): Accountant/Independent examiner's fees Report Accountancy Directors' remuneration & trustees' expenses	2021 2020 £ £ 580 570 728 609 - -

7 STAFF INFORMATION

The charity does not have any employees.

The key management personnel comprise the trustees and the freelance project manager.

LEIGH NEIGHBOURS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

8 TANGIBLE FIXED ASSETS Cost Additions As at March 31 2021 Depreciation Charge for the year As at March 31 2021 Net Book Value As at March 31 2021 9 DEBTORS Income receivable Prepayments & other debtors 10 CREDITORS falling due within one year Trade creditors Accruals	2021 £ - -	land & Buildings Total £ £ 140,302 140,302 140,302 140,302 - - - - 140,302 140,302 2020 £ 900 2,102 3,002 3,630 1,140 4,770
	-
	2,077 1,240
	3,317

LEIGH NEIGHBOURS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

11 STATEMENT OF FUNDS

Balance 31/03/2021 £ 237,817	237,817	101,359 608 - -	101,967	339,784
Income Expenditure Transfers £ £ £ 24,390 - 140,802 24,390 - 140,802 279,903 (97,157) (140,802) - - - 2,100 (2,100) - - - 282,003 (99,257) (140,802) 306,393 (99,257) -	140,802	(140,802) - - -	(140,802)	-
	-	(97,157) - (2,100)	(99,257)	(99,257)
	24,390	279,903 - 2,100 -	282,003	306,393
Balance 31/03/2020 £ 72,625	72,625	59,415 608 - -	60,023	132,648
Income Expenditure Transfers £ £ £ 18,839 - 2,125 18,839 - 2,125 83,025 (99,794) (2,125) 972 (364) - - - - - - - 83,997 (100,158) (2,125) 102,836 (100,158) -	2,125	(2,125) - - -	(2,125)	-
	-	(99,794) (364) - -	(100,158)	(100,158)
	18,839	83,025 972 - -	83,997	102,836
Balance 09/01/2019 £ 51,661	51,661	78,309 - -	78,309	129,970
Unrestricted Funds: General fund Restricted Funds: Big Local Funding GMCVO - Walking Project TfGM - Bike library ACE - Our Art Neighbourhood Project

LEIGH NEIGHBOURS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

11 STATEMENT OF FUNDS (continued)

Transfers

A transfer has been made to account for the project use of the offices (£500) and the purchase of two properties (£140,302). Last year a transfer was made for the use of the offices.

Restricted funds

It is intended that the restricted fund balances will be expended in 2021/22. The Big Local balance is split between projects as follows:

Community Facilities Community Spirit Crime and Safety Environment Financial Matters Housing Officer costs Partnership running costs Youth Contingency	£ 19,640 6,199 1,207 3,016 8,266 11,536 14,585 10,114 500 26,296
	101,359

12 ANALYSIS OF COMPANY NET ASSETS BETWEEN FUNDS

*Fund balances at March 31 2021 are represented by:-* Fixed assets Net current assets *Fund balances at March 31 2020 are represented by:-* Net current assets	Unrestricted Funds £ 140,302 97,515	Restricted Funds Total £ £ - 140,302 101,967 199,482 101,967 339,784 60,023 *132,648* 60,023 *132,648*
	237,817
	72,625
	72,625

13 TAXATION

The Company is a registered charity and is entitled to claim annual exemption from UK corporation tax.

14 CAPITAL COMMITMENTS

At March 31 2020, the trustees had authorised the purchase of two residential properties at a total cost of c£120k to be financed by the Big Local grant. These purchases were made in the year and the charity entered into contracts for their refurbishment. At March 31 2021 the charity had capital commitments (authorised and contracted for of £57,600.

15 RELATED PARTY TRANSACTIONS

There were no related party transactions that required to be disclosed in this or the previous year.