Braithwaite Institute Financial Statements 31 March 2021 Charity Number 1162041 Keswick ACCOUNTANTS
Braithwaite Institute
Index to the Financial Statements for the year ended 31 March 2021
| Page | |||
|---|---|---|---|
| Charity Information | 1 | ||
| Trustees' Report | 2 | ||
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | - | 9 |
Braithwaite Institute
Charity Information for the year ended 31 March 2021
| Charity Number | 1162041 |
|---|---|
| Board of Trustees | Peter Kerr |
| Stewart Tauber | |
| Judith Tauber | |
| Anthony Woodyer | |
| Penny Woodyer | |
| Bob Kemp | |
| Susan Page | |
| Andrew Pepper | |
| Andrew Thoburn | |
| John Cain | |
| Kate O'Donovan | |
| Independent Examiner | Frances Clark |
| Keswick Accountants | |
| 4 Leonard Street | |
| Keswick CA12 4EJ | |
| Bankers | Cumberland Building Society |
| 30a Station Street | |
| Keswick | |
| Cumbria | |
| CA12 5HF |
Page 1
Braithwaite Institute
Trustees Annual Report for the year ended 31 March 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
Reference and administrative information
Braithwaite Institute is situated in the Above Derwent Parish in Cumbria. It was registered as a charitable incorporated organisation on 6 January 2016, having taken over the assets of the former Thornthwaite-cum-Braithwaite Victory Memorial, an unincorporated charitable trust. The two charities were merged on 3 September 2015 under a General Vesting Declaration and the old charity name has been removed from the Register of Charities.
The Charity is administered by a management committee, which meets every month. It employs a part time caretaker, but otherwise relies on the help and goodwill of the Trustees to administer the facilities.
The Trustees elected to manage the charity at the AGM on 15 April 2019 were:
Chairman - Peter Kerr Joint Treasurers - Stewart and Judith Tauber - Secretary Anthony Woodyer Bookings Secretary - Penny Woodyer - Braithwaite representative Bob Kemp The Appointed Trustees were: Women’s Institute - Susan Page Parish Council - Vacant Braithwaite Cricket Club - Andrew Pepper Braithwaite Football Club - Andrew Thoburn Tennis Club - John Cain
Due to the pandemic, the AGM scheduled for April 2020 was cancelled and the Trustees agreed to hold over for a further year. Notification was subsequently received from the Parish Council that they wished to appoint Kate O'Donovan as a Trustee of the Charity.
The registered address of the Memorial Hall is: Braithwaite Institute CIO Braithwaite Keswick Cumbria CA12 5RY
The Charity has current and deposit accounts with the Cumberland Building Society in Keswick
Objectives and activities
The object of the Foundation, as set out in the governing deed, is the provision and maintenance of a village hall and playing fields for the benefit of the residents of Thornthwaite and Braithwaite and the surrounding district.
The Memorial Hall caters for a diverse range of organisations and activities. The premises are used on a weekly basis by a number of fitness training classes, a children’s nursery and a life art class. Other regular users include the Girl Guides, Blood Transfusion Service, a RAF Mountain Rescue team, Quilters Guild and Flower Club. A number of car and cycle rallies are based on the premises and there are also many one-off bookings for events such as parties, dinners, seminars and weddings.
Page 2
Braithwaite Institute
Report of the Trustees, contd. for the year ended 31 March 2021
Objectives and activities (cont)
The sports fields are booked each year for a limited number of caravan rallies and by several camping groups. The Cumbria Christian Youth Camp hold a summer camp every August, other affiliated groups such as the Girl Guides and various Boys Brigades hold camps every two or three years.
Four sports clubs use the sports facilities - Braithwaite Cricket Club, Braithwaite Football Club, Keswick and Braithwaite Tennis Club, and the Braithwaite Bowls and Croquet Club.
The facilities are well used and appreciated by the local community, satisfying our main aim as a Charity. They are also the nominated emergency centre for Keswick School in the event of a major incident at the school.
Achievements and performance
The hall remained open during the pandemic because the NHS Blood Transfusion Service wanted to use the premises, particularly as many of their other regular venues had been closed. When allowed to do so, a number of local groups also used the main hall, where covid compliant measures were introduced, which included a one way system through the building.
A funding package was agreed with Allerdale Borough Council for improvements to the sports facilities including an all-weather cricket pitch and footpath to the tennis courts and sports pavilion. The work will be carried out in the next financial year with funding contributions from the Institute, cricket and tennis clubs.
Financial Review
Because the hall remained open for the NHS during the pandemic, it qualified for business support grants from the local authority which amounted to £20,636, 79% of the unrestricted income. As a result, income fell by only 8.3% compared to the previous year.
Allerdale decided to pay 90% of their Sports Grant contribution (£8,280), for work on the sports facilities, before the financial year end. Being for a specific purpose, it is shown as a restricted reserve in the financial statements, supplemented by a transfer of £2,000 in respect of the Institute’s agreed contribution to the funding package.
Expenditure fell almost 45% compared to the previous year as measures were put in place to reduce costs as far as possible during the pandemic. Further cost savings were not possible as the hall had to be fully heated and cleaned for the NHS and other groups when they were permitted to use the facilities.
As a result of the above factors, the net operating income rose from £6,280 to £13,745, but as no capital expenditure was incurred during the year, the overall reserves rose to £46,176. The current reserves policy is to maintain a contingency reserve of £10,000, so funds are available to put towards the completion of the toilet/shower refurbishment programme during the next financial year.
Declaration
The Trustees declare that they have approved the report above.
Signed on their behalf:
Page 3
Braithwaite Institute
Independent Examiners Report for the year ended 31 March 2021
I report on the accounts for the Trust for the year ended 31 March 2021 which are set out on pages 5 - 9.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year, under section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examiners report is needed. It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiners report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of accounting records kept by the charity and a comparison of the accounts presented with these records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The proceedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts.
Independent examiners' statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that, in any material respect, the requirements to:
-
keep accounting records in accordance with s130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met;
or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Frances Clark FCA CTA Appleside 4 Leonard Street Keswick Cumbria CA12 4EJ
Page 4
Braithwaite Institute
| Statement of Financial Activities for the year ended 31 March 2021 Notes INCOME Donations and Grants Donations and gifts 2 Membership Income Grants receivable 2 Income from charitable activities Rental Income 3 Other income Investment Income 4 Total income EXPENDITURE Expenditure on charitable activities Grants payable 5 Property costs 6 Administration costs 7 Legal and professional 8 Total expenditure Net income / (expenditure) Total funds brought forward Transfers between funds Total funds carried forward 11 |
31 March 2020 Un-restricted Restricted Funds Designated Funds Total Total £ £ £ £ £ 324 - - 324 525 - - - - - 20,636 8,280 28,916 - 4,846 - 4,846 25,742 - - - - 1,895 185 - 185 183 25,991 8,280 - 34,271 28,345 - - - 2,550 11,578 - 11,578 18,765 496 - 496 578 172 - - 172 172 12,246 - - 12,246 22,065 13,745 8,280 - 22,025 6,280 14,150 - 10,000 24,150 17,870 (2,000) 2,000 - - - 25,895 10,280 10,000 46,175 24,150 31 March 2021 |
31 March 2020 Un-restricted Restricted Funds Designated Funds Total Total £ £ £ £ £ 324 - - 324 525 - - - - - 20,636 8,280 28,916 - 4,846 - 4,846 25,742 - - - - 1,895 185 - 185 183 25,991 8,280 - 34,271 28,345 - - - 2,550 11,578 - 11,578 18,765 496 - 496 578 172 - - 172 172 12,246 - - 12,246 22,065 13,745 8,280 - 22,025 6,280 14,150 - 10,000 24,150 17,870 (2,000) 2,000 - - - 25,895 10,280 10,000 46,175 24,150 31 March 2021 |
|---|---|---|
| 28,345 | ||
| 2,550 18,765 578 172 |
||
| 22,065 | ||
| 6,280 | ||
| 17,870 - |
||
| 24,150 |
The notes form part of these financial statements
Page 5
Braithwaite Institute
| Balance Sheet as at 31 March 2021 Notes 31 March 2021 £ £ Fixed Assets Tangible fixed assets - Investments - Current Assets Cash at bank and in hand 46,175 46,175 Creditors: amounts falling due within one year Creditors and accruals 10 - Net Current Assets 46,175 Total Assets less Current Liabilities 46,175 Creditors: amounts falling due in more than one year - NET ASSETS 46,175 Funds Restricted funds 11 10,280 Unrestricted funds 25,895 Designated funds 10,000 12 46,175 |
31 March 2020 £ £ - - 24,150 24,150 - 24,150 24,150 - 24,150 - 14,150 10,000 24,150 |
31 March 2020 £ £ - - 24,150 24,150 - 24,150 24,150 - 24,150 - 14,150 10,000 24,150 |
|---|---|---|
| 24,150 - |
||
| 24,150 - |
||
| 24,150 | ||
| - 14,150 10,000 |
||
| 24,150 |
Approved by the trustees and signed on their behalf
Peter Kerr Chairman Date: 01-Jul-21
The notes form part of these financial statements
Page 6
Braithwaite Institute
Notes to the Financial Statements for the year ended 31 March 2021
1 Accounting Policies
General
These accounts have been prepared on a receipts and payments basis, and in accordance with the Charities SORP 2005 (Statement of Recommended Practice), and the Charities Act 2011.
Tangible Fixed Assets and Depreciation
Assets used for charitable purposes, with an expected useful life exceeding one year, are capitalised on the balance sheet. Depreciation is provided at the following annual rates in order to write off each asset over its expected useful life:
Office Equipment 25% on reducing balance Computer Equipment 3 years straight line
Property
The Trust owns some property which is not included in these accounts. Sale of the property is recognised as income in the accounts.
Investments
The Trust recognised unrealised gains and losses on invesments with reference the movement in value of the invesments from one year to the next.
Income
Income received is made up of rent paid by tenants. This is recognised on a received basis.
Expenditure
Expenditure is accounted for on an paid basis. Where it relates to a specific project it is allocated to that project as restricted expenditure. Expenditure that relates to the objects of the charity is classified as charitable activities.
Funds
General funds are those where no restrictions have been placed upon the specific spending of the funds by the donor. Designated funds are those funds where the directors have chosen to earmark general funds for a specfic purpose. Restricted funds are those funds where the donation is received for a specific purpose as set out by the donor, and when the trustees wish to separate out a project for clarity in the accounts.
Page 7
Braithwaite Institute
Notes to the Financial Statements for the year ended 31 March 2021
| 2 Donations and gifts Voluntary donations 2 Grants Receivable ABC COVID Support Grant ABC Sports Grant 3 Rental Income Camping / Caravan Regular Bookings Sundry Hire 4 Investment income Building society interest received 5 Grants payable Braithwaite Cricket Club Keswick Tennis Club Football Club 6 Hall Running Costs Rates and Water Heat and Light Caretakers and PAYE costs Repairs and Maintentance Cleaning and Waste Insurance Sundry Expenses 7 Administration Costs Subscriptions Bank charges 8 Legal and professional Independent Examiner |
31 March 2020 Unrestricted Restricted Total £ £ £ £ 324 - 324 525 324 - 324 525 20,636 - 20,636 - - 8,280 8,280 20,636 8,280 28,916 - 1,221 - 1,221 6,724 3,180 - 3,180 15,247 445 - 445 3,771 4,846 - 4,846 25,742 185 - 185 183 185 - 185 183 - - - 600 - - - 700 - - - 1,250 - - - 2,550 754 - 754 1,484 1,633 - 1,633 3,399 1,369 - 1,369 2,429 2,220 - 2,220 5,065 2,570 - 2,570 3,368 2,967 - 2,967 2,906 65 - 65 114 11,578 - 11,578 18,765 459 - 459 489 37 - 37 89 496 - 496 578 172 - 172 172 172 - 172 172 31 March 2021 |
31 March 2020 Unrestricted Restricted Total £ £ £ £ 324 - 324 525 324 - 324 525 20,636 - 20,636 - - 8,280 8,280 20,636 8,280 28,916 - 1,221 - 1,221 6,724 3,180 - 3,180 15,247 445 - 445 3,771 4,846 - 4,846 25,742 185 - 185 183 185 - 185 183 - - - 600 - - - 700 - - - 1,250 - - - 2,550 754 - 754 1,484 1,633 - 1,633 3,399 1,369 - 1,369 2,429 2,220 - 2,220 5,065 2,570 - 2,570 3,368 2,967 - 2,967 2,906 65 - 65 114 11,578 - 11,578 18,765 459 - 459 489 37 - 37 89 496 - 496 578 172 - 172 172 172 - 172 172 31 March 2021 |
|---|---|---|
| 525 | ||
| - | ||
| - | ||
| 6,724 15,247 3,771 |
||
| 25,742 | ||
| 183 | ||
| 183 | ||
| 600 700 1,250 |
||
| 2,550 | ||
| 1,484 3,399 2,429 5,065 3,368 2,906 114 |
||
| 18,765 | ||
| 489 89 |
||
| 578 | ||
| 172 | ||
| 172 |
Page 8
Braithwaite Institute
Notes to the Financial Statements for the year ended 31 March 2021
9 Trustee Remuneration and Expenses
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them.
No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year.
10 Creditors: amounts falling due within one year
| 31 March 2021 31 March 2020 £ £ Deferred income - - - - Restricted and Designated Funds At At Restricted 1 April 2020 Income Expenditure Transfers 31 March 2021 Sports Grant - 8,280 - 2,000 10,280 - 8,280 - 2,000 10,280 Designated Contingency Reserve 10,000 - - - 10,000 10,000 - - - 10,000 |
31 March 2021 31 March 2020 £ £ Deferred income - - - - Restricted and Designated Funds At At Restricted 1 April 2020 Income Expenditure Transfers 31 March 2021 Sports Grant - 8,280 - 2,000 10,280 - 8,280 - 2,000 10,280 Designated Contingency Reserve 10,000 - - - 10,000 10,000 - - - 10,000 |
31 March 2021 31 March 2020 £ £ Deferred income - - - - Restricted and Designated Funds At At Restricted 1 April 2020 Income Expenditure Transfers 31 March 2021 Sports Grant - 8,280 - 2,000 10,280 - 8,280 - 2,000 10,280 Designated Contingency Reserve 10,000 - - - 10,000 10,000 - - - 10,000 |
31 March 2021 31 March 2020 £ £ Deferred income - - - - Restricted and Designated Funds At At Restricted 1 April 2020 Income Expenditure Transfers 31 March 2021 Sports Grant - 8,280 - 2,000 10,280 - 8,280 - 2,000 10,280 Designated Contingency Reserve 10,000 - - - 10,000 10,000 - - - 10,000 |
|---|---|---|---|
| - | |||
| At 31 March 2021 10,280 |
|||
| - 8,280 |
- 2,000 |
10,280 | |
| 10,000 - |
- - |
10,000 | |
| 10,000 - |
- - |
10,000 |
11 Restricted and Designated Funds
12 Net Assets by fund
| Net Assets by fund Current assets Creditors: amounts falling due within one year Total net assets |
Restricted Designated Unrestricted Total £ £ £ £ 10,280 10,000 25,895 46,175 - - - |
|---|---|
| 10,280 10,000 25,895 46,175 |
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