Charlty number: 116%26 THE ANSTICE COMMUNITY TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
THE ANSTICE COMMUNITY TRUST coiirENTS Page Rèfèrgnce and admlnlstratlvo dot•ih of the Charity, its Trustees and •dvlsern Trustees. r•port Ind•pendenl oxamlnerfs report Statemont of flnancial activitles 10 Balan $ho•t 11 Notes to thè flnanclal sla1•nts 12-25
THE ANSTICE COAqMUNITY TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, IT8 TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trn8teos Mr C B£gry Mr l Duffy (resigned 27 April 2021} Mig$ J Campb811. Secretary Mr8 R Mannering M McCarthy-Stoke$ {reswJned 12 June 20211 Mrs J Morgan, Vice Chair Mr8. S ShSnlon Mrs O Holden, Treasurer (8pw'nt•d 6 Novembor 2021) Cllr S Chadwick, Chair Cllr J Jone8 Charfty reghtsrnd numbor 1162626 Prlnc5pal offi¢e The Ansti 1 An3ti¢e Square Madeley Teld TF7 5BD Crowe U.K. LLP Chgrtered Accountants Bleck Country House Rounds Green Road Oldbury West MKIL•nds B69 2DG Pago 1
THE ANSTICE COMMUNrrf TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their annual report toJ&ther wlth the finwKial statem8nts of the Chardy forth8 1 April 2021 to 31 March 2022. Objectlves and actlvltlos . Pdlcles and obJ¢¢tlv•s In setting objectNe$ and planning for activities, the Trustees have gN8n due 7$erathjn to general guidan¢e published by the Charty Commission relatlng Ic+ publK bengfit, including the guldarKe 'PubG benefft.. running a charity {PB21'. To further benefit the re$id8nts of Madeley and the neighborhood, wrthout distindion ol sex, sexu81 orvantalion. disability, racg or of politi'cal, rellgious OT ¢her Opinn5 by associating together th& said resKlents 8nd the I81 authorities, voluntary and other organi8ation$ in a common effort lo advance education and provide f8cilitie$ in the interests of social walfare for rmllon leisure lyn& ocwation with the atyective of improvlng the condbtions of life ft)r its r68idents. In furtherance of Ihesg objects bul not otheTMse, the trustees shall have pmr to maintain or manage or co operate with ony statutory 8uthority in the maintenartrce and managgmenl of tho Anytice Memorial Hall fof ath'vities promoted by the charity in furtherance of the above tlects. b. Maln artivitsos undortaken to luriher the Ch•rlty's purposes for the public b•n•fft The Anstice Communty Tnjst {ACT) i8 a charity formed by a group of local people. We lease the An$1 from Madelay Town Council and run the buihJing as a communty centre on beh8K of the people of M8deley. c. Stat•ment Confirming wh•ther the Irust•es have had regard to th• guld•nc• IBsuod by th• Charfty Commission on public nerrt Slnce ACT w88 f(nded we have kept in miTrJ the Charity C¢mmls8ion guidarte on Publ benrfrt at our Trustge meetings. d. Policy on grant maklng We do not give gr8nts. •. Contrfbulions made by ACT has 45 feglstered, 20 active volunt68rs IncijIng Trustee5. Our volunlg8rs m8ke a major contribution lo the Anslice including helping with lundraising, publicity, supporting avents and working on our reception d8sk and Page 2
THE ANSTICE COMMUNITY TRUST TRUSTEES. REPORT IcoKfiNUED) FOR THE YEAR ENDED 31 MARCH 2022 Achlovom•nts and p•rfominG• . Maln •chlèvomgnts of the Charlty S•rvlng our communlty After hvo of re$lridions we arg n(w cperating at almost full capa¢ity and th6 Ansltce 18 one8 again a welcoming cemmunty hub at thg hoart of Madeley. Our busy café 18 open 5 days a week and perfoming over budget. Tho ballroom 18 fully booked wbth a range of classes induding dance, yC#3a and thè An$tir Youth Club. We provide free and paid for popular communty events ftr all ages and ho8t a variety of prNate bocing$, chr56tenSngs, birthday parties. dding8. and wake5. M•nAging our rns•rv•s Limtting our maximum Ballrc4)m capacrty to 250 post covid h85 redd our Bar income but we are still reporting a small opernting surplus. We generated Inc¢)me while preparing to reopen by continuing to rent our reta sp and resrdenlial flat and TelFord and Wrekin Council hired the Ballroom as a Covid 19 Testing Centre. We enlhusia8tuty •c¢t8$ed all available govemment 8UPPOrt granti 8fMI wero wwarded grants to cover our community support work and prepare for reopenlNJ b. Performanco of fundralslng actlvtti•s ag•in¥t obJo¢tlves Set During the year we secured £9360 from Natlonal Lottery Awards forAM to fund our Youth Club and Madaley Mon Café £9200 from Nional Lottery Comunity Fund RchIng Communilios to upgrade our prep k6tchen £33,317 from National Lottery Community Fund Reaching Communities to nd our Communty Oulre8Gh Manager £21.307 from Telford & Wrekin Council in Covid 19 Busin088 Support Grants W8 were finally 8bla to sp8nd £5,200 v•Jarded by tha Arts Counc41 In 2019 to offfjr a rangè of porf0mnCeS including poetry rnadings and children's theater. In *JJition C8fe 96n8r•igd £69.000 incom8. we recop4ed £13,500 In rentsl Income from the flat and retail spaG• and £82,000 from Ballroom hire and Bar irmmo. Page 3
THE ANSTICE COMMUNITY TRUST TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Financial revlew a. Golng eoncèrn After making •PPTopriate enquiries. the Trustees have 8 reasonable expectalvJn that the Charity has adequate resources lo continue in operatnal existence for the foreseeable future. The impact of the Cwd-19 pandem. was mitigated by the CoronaviNs Job Retention Scheme. securing Govemmenl grants the P¢)weT lo Change Recovery Scheme gnd Ténting the Ballroom. The buitdlng has reoponed and 18 now operating al almost frJll capacty wth Increased reserves {£258.218l and foThvard bookings. At the lime of wrrting approxima18ty 800 people visit the Anstice every week including 350 uslng the café. The Ballrwm fulty tyjoked for the rest of 2022 and are still taking bookingB for 2023 and 2024. We continue lo apply fcrf grant support where il 18 available and. although the UK'S economic future is uncwtain, our forecasting assumption8 have been conservalNe. we have shown we can be fi8ble in the face of change and we b&liev8 we havg sulfiGient reservfrs in place to continue to suppgrt our communty over the next two year& For these reason$. the Trust continue to adopt the going COnM basis in preparing tha finandal stataménts. b. Reserv pollcy Totgl funds at the year was £258,218 12021.. £239.237) with Rstricled TeseTves of £167,879 (2021: £173.223} and unrestricted reserves of £90.339 {2021.. £57,442} Included in triad funds are funds relating lo Fi¥ed Assets of £105,033 12021: £107.208). The funds free available for use by the charity * the year end at the discretion of the Trusteos amount to the unrestricted restNe8 less the unrestrited Tangible Fixed assets of £36,953. Our free raserves 8131 Ktsrch 2022 are therefore £53,386 {2021.. £25.397) The Trust h#$ established the level of free rese85 Èhould be at least £45,000 to covor three monlh8 liab51th88 8hoLdd the Charity be wuired lo cl. This figure will be review annuatty. ¢. Tho Charlty's prlncipal 8ourc•s of fund$ {intludlng any fundrnlylng) Covid restrictions in 2020121 meant 70% of our income camo from grants and covid 6UPPOrt fvnd$. Thi$ graduoNy reduced as restridsons lifted and we generated incomè from other Sources as we began to reopen. In 2021122 10°k of our income was from Covid Recovery funding. 250A from grants. 2S% from the café. 30% 1M events (Ballroom Hirè and Bar), 5% from the fiat and Shop rental and 5% from volunteer fundraising. As we increase capacty in 2022r23 we are foreca8tlng continued fegular income ftom our café and ballroom bookings plus a gradual in¢rea8e In bar Income as we see a retum to18rg8r events. d. Investmofftt pollcy and obJgGtlvgs Includlng any social inv•8tm•nt poli¢y adopted ACT dcos not have sufficient funds to consider investing any SulUs. Page 4
THE ANSTICE COMMUNITY TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 o. Prlnclpal rf8k8 and unctrtalntl•s A retum lo COVID Ic¢kdown and forced ch)9ure would be a major challenge. AkiN4 with this. the full impact of the c05t of living ¢risi$ and espècially increasing enorgy prices is as yet unknown. We believe BovemnI support will limit the impact of rislng energy costs but still expect somg increase to our overheads and r&Juwl income as our communty 18 hit by irn1ation and increased pri¢e$. We mrtg8te both of these risks by careful obs6rv*ion of staffing Iwels and ensuring we ntinue to get the best price available from our energy 8uppli8rs. Wg have secured a fLxed prio deal until Decembr 2024 for our ga$ supply and our 81gCtricily suppty is VB a loGal authority consortium which we are assured 9ets the best aV8iLabl8 price. We also carry Out cash Ilthv monitorirg. monthty sc?nar planniro and make full use of any Govemment and grant support. Like many in the hosprtality industry we are finding il a dTrffKuft lo recrult experienced. r•lkqb18 Staff for OVT café and bor which could impad our p8rfonnanc8 and reputation in the wmmunty. As a resuh have increased pay and recrulted junlor 8taff we are training for more Sen ro¥ but w• n90d to keép our pay rates and possible impact on costs uThJer revknv. Page 5
THE ANSTICE COMMUNITY TRUST TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2022 Structur•, govemance and managomont a. ConBtitutlon The Anstice Community Trust is a Tegislerod charity, number 1162626, and is constituted under Charitable Incorporated Organisalion ICIOI. b. M•thods of appointsn•nt or •lectlon of Tru¥tvs Trustees are appointed at Annual General Meetings IAGM'S) or CpIed at interim Trustees Meetings. Madeley Town cln¢11 and Telford and Wfekin Bofough Council can each appoint one Trustee. c. Pollcl•s and pro¢U$ dopt•d for the Inductlon and trnlnlng of truste•8 Trustees receive an induCn pack. a short fomial trning sgssion is avoilabl8 and Trustees arn askoil to sign our Code of Practice. d. The charlty's owganlsatlon•l structure and any wlder neiworf( wtth whlch tho ch8rlty works Trustees m quarterfy with repre8entative8 from Subgroups meet monlhfy dealing wf(h finance and human resource8. PaKI Staff are kd by our Centre Manag8T, supetvbsed by our Chair and supported by 8 Finance Manager, Convnunity Outreach Manager Iresponsible for managing volunleersl. Café Superwsor. Cc<Jk, Bar Supervisor. Caretakor and Admin Assistant. We alsts employ casual bar and café Staff. e. Related party rel•tlon8hlps Thero are no relationship$ 7Mth any rglat8d parttes. Page 6
THE ANSTICE COMMUNITY TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Statement of TrustMs' responslbllltl•8 The Trustees are respons10 for preparing the Tw$lees' report and the financial statetrtnts in acrae with applicable Iw and United Kingdom Accounting Standards (United Kingdom Gener•lty Accepted Accounllng Practicel- The law appltcable lo charities in Enyland & Wales requlres the Trustees to prepare finanaal stal8mènts for each financial which give a true and fair vwi of the stste of affairs of the Charty and of its incoming resources and application of resource6, including its tncomè and expenditure, for thal period. In preparing these financial st81gmen18, the Trustees are required to.. salect suitable accounting poticies and tr*n appty them con$istentty', ct>serve the methods and principle8 of the Chanties SORP IFRS 1021.. make judgment8 and acthunting estinates that are reasonable and pruden( state whether appI&ble UK AuIrtIng Standards IFRS 1021 have been folld. 8Utiect to any malorial departures disclosed and explained in the financial st8lemenls.' prepare the financial statements on the goin9 corttm ba unkn$ it Is ingppropriate to presume that the Charrty will continue In business. The Trustees are responsble for keeping adequats accounting records th81 are Suff1&nI to Show and expin the Charivs tran5adion$ and d[ose with reasonable accuracy at any tlme the finanoal FO8Mion of the Ch8Ity and enable them to ensure that the fin•nGial statements comply wrth the Charrti8s Act 2011. the Chgrity {Ants and Reports} Regulation8 2008 and the Provisions of the Trust deed. They are al$0 responsibl6 for safeguarding the a886ts of the Charty and hence for taking re880nable steps for th8 prevention and detection of fra1 and othor tiregularilie8. Approved by order 12 November 2022 the members the boaid and signed on their behalf by.. Tru818es Cllr S Chadwkk Page 7
ThE ANSTICE COMMUNrrY TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022 Ind•pgnd•nt Examlnerfs Report to the Trustees of The AnsllM Communlty TnMt I'the Chartty'} I report to thg tharity Tru$t885 on my examination of the accounts of the Charity for Ihg year ended 31 March 2022. R•sponslbllttlgs and B•$i• of Report As the Trustees of the Charity you are responsible for the preparatb)n of the accounts in accordance with the requiremenls of the Chanties Act 2011 Ilhe 2011 Act). I report in respect of my fjxaminatk?n of the ChariV8 accounts Carried under section 145 of the 2011 Act and in Carrying out my examinat)n I have foll(xYed the appkn'cable Drrecltons given by the Charty Commi88ion under $tion 14515llbl of the 2011 Act. Indownd•nt Examinerfg Statement Sinco the Chartys gross income •x¢egded £250.000 your examlner must be • mèmber of a booty listed In section 145 of the 2011 Act. l eonfirm that l om qualified lo undertske the examination b&ause l am a member of Instite of Chartered Accountants England and Wales, whl¢h is one of the listed bodies. Your attent is drawn lo the fact that the Charity has prep8Ted the accounts in accordance with Accounting and R8poriing by Charities.. Statement of Recommended Practie app1K8e to charities preparing their account$ in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 in preferenee to the Accounting and Reporting by Charibes: Statement of Recommended Practice issued on 1 April 2005 which is referre(l io in the extant regulalions bul has been wmhdrawx. l understand that this has been done in order for the accounts to provide a In and fair view in attordance with the G8neTally Aepted A¢untIng Practice effective for reporting pertods beginning on or after 1 January 2015. I have compteted my examination. I confirm that no matters have com8 to my attent ¢onrtIOn with the OX8minatlon giwng me Gause lo believ8 th* in any m8t8ri81 respect.. accounting records were not kept in respect of tho Charity as Tequired by sKtKJn 130 of the 2011 Ad,. or the accounts do not accord with those records". or the accounts do not compty with the applicable requirement$ ¢oncerning the form ond g)ntenl of a¢counts Set out in the Ch$rities {Accounts and Reports) Regulatn$ 2008 other than any requirfrment that the accounts ge a 'lrue and fairf vlew which is not 8 matter considered •8 part of an independent examknation. I have no rceM$ and have ¢ome across no other motters In connection with the examlnalion to which attention should be drawn in this raport in order to enable a proper understanding of Ihe 8ccounts to be rèxh&. Th18 report made Sole to the Charitrfs Tru$loos, as a btrdy, in owrdance with Part 4 of the Charit$ {AcGounts and Reports) Reyulatv)n$ 2008. My w?r1( has been undertaken so that I mlght 8tate to the Charitys Trustee$ those mattgr5 1 am required to slate to them in an Independent exominerfs report and for no other pury)088. To the fullest extent pemiilled by Iww, I do not accept or assume responsibility to anyone other than the Charity and the ChariiV8 Trustees as a body. for my work or for this rnport. Sijnfjd". Da. 21 November 2022 Helan Drnw FCA CROWE U.K. LLP Chartered Accountants Black Country Houso Rounds GTeen Road Oldbury Page 8
THE AN8TICE COMMUNITY TRUST INDEPENDENT EXAMINER'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Wesl Midlands B69 2DG Pa98 9
THE ANSTICE COMMUNIry TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Roslrlcted Unrestrfctgd funds funds 2022 2022 Total funds 2022 Total funds 2021 Incomo from: Donations anil Iggacies Charitable activitie$ Other tdl9 adNitios Investments 64.880 31A67 161,525 6,093 13,500 86,247 172,775 6,093 13,6 135,041 72,056 6,7GQ Tot•1 incom• 66,130 212.485 278,615 214.205 Expendlture on: Raising furvjs Charl1le activities 44.709 26.766 11,602 176,568 56,311 203,323 44.330 145,819 Total eXnditr• 71,474 188,160 2S9.634 190. 149 N•t mov•mènt In funds 15,344) 24.325 18.981 24,056 Rxonclllatlon of funds: Total funds brought fomard Net movement in funds 173.223 {S.3441 66.014 24,326 239.237 1B.981 215. 181 24.056 Total funds ¢orrl•d foThvard 167,879 90.339 268.218 239.237 The Statement of Financial Activitie$ includes all gains and losses ¢¢gnIsed in the year. The nots5 on pages 12 to 25 fom part of these financial $latements. Page10
THE ANSTICE COMMUNrrY TRUST BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Fixed aM•ts Tangible aBsets 12 141.987 147.825 141,987 147,f25 Currenl a•sets stocks Oebtors Cash at bank and in hand 13 14 4,098 16,664 124,101 2. 797 100.015 144.763 103,812 Creditorn: amunts faling due within one 15 128,S32) f12,400J Net current os$ets 116.231 91,4f2 Total assets less curyent N•bllltles 258,218 239.237 Net w•ts olUdIng P10 a88ot 258.218 239.237 Total net assets 258218 239.237 Charfty funds Restrict•J fund8 Unrestricted funds 16 16 167.879 90,339 173,223 66,014 Total funds 258.218 239.231 Tha financial statements V•tre approved and authorised for issue by the Trustees on 12 November 2022 and signed on th6iT behaw by. Cllr S Chadwlck Iss J Gamphll The notes on pages 12 to 25 fom) part of th financial 8t*ments. P4e11
THE ANSTICE COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 G•n•ral Infomiatk•n The Anstice Community Trust is a Charitabl8 In¢orpDraled OTganbation {CIO}, whose registered office is The Anstica, 1 AnstiC8 Square. Madeley, Telford, TF7 5BD. Accountlng pollcleB 2.1 Bas1¥ of preparatlon of finan¢lal ststmnts The financsal statements have bggn prepared in acwrdance with the ChaTilie5 SORP {FRS 102} - Accounting and R8POrting by Ch8ritie$.' Ststement of Recommended Prn&ice applicable to tharitS preparing their accounts in accordance w¢th the Financial Reporting Standard aPpIable in the UK and Republic of Ireland IFRS 102} (effective 1 January 20151. tho FiftancHI Reporting Slandard applicabb In the UK and R8publiG of Ireland {FRS 1021 and the Charrt18s Act 2011. The financial ststements have be9n prepared to give a Irue and fairf view and have departed from the Charitse8 <Aount8 and Reports) RegutIOnS 2008 onty lo the èxtent required to prowde a Irue and fair, vie•V. Thk* departure has involved following the Charrties SORP IFRS 102) published on 16 Juty 2014 rather than Ihe Accounting and Reporting by Charities.. Ststement of Recommended Practice effeetwe ftom 1 April 2005 which has since been wlhdrawn. The Anstice Communty Trusl meets the definition of a public benefrt entiiy under FRS 102. Assets and Ik4bilitS 8re iirtialty recogni8ed at h55torical cost or transaction value unless otherwise stated wi the relevant CoUn1lng policy. 2.2 Golng concern After making apprOpre enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in eperational estence for the foreseeable future. The impact of the Covid-19 pandem, was miligatad by the Coronawrus Job R8tention Scheme, seeuring G¢)vemmenl grants th8 Prywer lo Change Recovery Scheme and renting the Ballroom. The building has reopened arKI is now oporating at almost full etty with increased re8eTves (£258.218) and forward booking8. At the time of Wn9 appToximalely 800 people 51t th8 Anstice every week induding 350 Un9 the café. The Ballroom 18 fvlly booked for the rest of 2022 and we are still taking booknng$ for 2023 and 2024. We continua to apply for grant support where it is available and, aluwh the UK'S economic futUTe is uncertain, our forecasting assumption$ have been conservative. we have shown V•P can be exible in the face of change and we believe we have SufficnI reserves in place to continue to bUPF¥)rt our ¢ommunty over the tsvo years. For these reasons. the TTUSt8è8 contlnug to adopt the going ncern basi$ in preparing the finanal 8tatem¢nts. Page 12
THE ANSTICE COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 A¢¢ountlng poliGiO8 {contlThu•dl 13 Incomo All income is reco9nised onco th8 Charity has entluemenl to Ihe Income. it 18 probable that the income w611 be re¢eived 8nd the amount of income receivable ean be measured reliabty. Grants are included in th8 Stalamenl ol finan¢ial actmlies on a receivable basis. The balance of income TeceW for specffic purposes but not expondgd during the Feriod 18 shown in the reievant funds on the Balance sheet. Wherg income is received in advance of entitlement ol receipt. its recognition is deferred and includad in credIto as defer income. Where entitlemenl occu bthre Income 1$ received, the income is accrued. Ime tax rocoverabte in relalkin to Inv86tment In¢ome Is recc>anised at the tiw the investment incomg is re¢efvab. 2A Expendlturè Expènditure i8 recognised once there Is a kgal or ¢onstnKtive oblipation to Ir8nsfer econcnic benefft lo a third paty, it is probable that a transfer of econom benefits 11 be requirèd in Settlement and tho amount of the obllgalion can be mga5ured reliabty. Expenditure is classffied by acbvity. The costs of each actimty are made up of the total of direct costs and shared cost8. including 6upp)rt cosls Invofved in UrlertakIng each actmty. Direct costs attributable to a Sing ?divty 8re allocated directly to that admly. Shared costs which contribute to mcfe than one actNty and support costs which are not attributablo to 8 Sing activty are apport)ned between Ihose actwities on a ba$is consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allfxaled on the portion of the assgt's use. Expendrture on rai8ing funds incIS all expenditure incurred by the Charrty lo rai8e funds for its charitable purposeÈ and includes costs of all fundr8ising activities events and nOrcharitable tsadlng. Expenditure on charitable ad1V85 is incurred on directty undertaking the actm'tw which furthor the Chartys objectives, as well as any •ssociated support costs. All eypenditure 1$ indusive of irrec¢)verable VAT. 2.5 Gov•mm•nt grdnts Governm8nt granls relaling to tangible fixed assets are treated as deferred incom8 and released to the Statement of financial aCtivitS over the expected useful lives of the assets concemed. Othpr grants are credrted lo the Statement of financial thties 88 the reted expenditure 18 ineurred. 2.6 Tngibl• fix•d assots and d•pr•clallon Tangible fixed asset8 co*ing £500 or more are e4prtalised and reaniSed when firture econom beneffts ore prctjable and the e08t or valu6 of the asset can be measuféd roliabty. Tangible fixed a8se18 are inilialty recogniwl at rnst. After recognilbn, under the ¢osl model, tangible fued asset8 are m8a$ur8d at cost19$8 accumulated depreciallon and ary ac¢umulated Impairnt b8988. All cos18 Incurred to bring a tsngible fLxed asset into itg intended yrkIng condltion should be ncluded in the Measurernt of cost. Page 13
THE AN8TICE COMIAUN1 TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 A¢counllng pollcieF {COTrtinuedl 2.6 Tanglble flx•d atstts and dopr•Glatlon Ic¢nllnu•d) Depreuation is charged so as to allccata the COBt of tangibb re assets less their residual value over th8ir estimated useful livps, using the straKdhl-line method. Depreciation is prcNKled on the followirJ b8818.' LeasehLld impTovements Fixtures and fittings Offtca equipment 10% Straight Line 10% Straight Line 33% Straight Line 2.7 Stock stocks are valued at the lTher of c1 and net realisabk valug after making due alltyarKe for ob¥olete and 61ow-moving stccks. Cost includes all direct costs. 2.8 C•$h at bank and in hand Cash at bank and in hand InclLKl88 cash and Short-lenn highty liluid investrnenls a short maturity ot three month8 or less from the date of acquisibon or openry of th8 deposit or similar account. 2 UabllStles and provlslons Liabilitie$ are recognised en there i¥ an obHg81ion at the BalAno sheet dale as a result of a past event. it is probable that 8 transfer of economic benefrt will be required R) settMent, and the amourrt of the settlement can be estimated rellabty. Lkgbllittes are recognised 81 the amounl that the Charty anllclpale8 it wll pAy to settlè the debt or the amount rt has rKewed as advanced yentS for the goods OT 8eivice8 it must provi(le. Provisions are measured 81 the best 68timate of the amounts requir8d Io sellk Ihe obligation. Whore the effect of the fjme value of money is material, the provision is based on th8 present value of those amounts. discounted at the pr8-Lix di$counl rale that refiect$ the risks $ifiC to the lièbilty. The unwlnding of the discount 1$ recognised in the Statement of financial activtlies as 8 finance cost. 2.10 FSn•ncial iMtrum•nts The Charty onty h88 financial assets and financial liabilities of a kind that qualfy a$ basic financial instrum8nl8. Basic fin•nclal instruments are initialty recogni$od at transaction value and subsequentty measured at their setttemgnl value wlh th8 exception of bank 108ns which are subsequenlty measured al ¥mO$8d cost Using the effectNe interest method. 2.11 Penslo The Charity operates 8 defined contribUtn pension Sch0n and the pwraion charge ryr•$ents the amounts payabk by tha Chaiily to th& fund in respect of the year. Pago 14
THE ANSTICE COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accountlng pollclos Ic¢)n¢lnu•d} 112 Fund accountlng General fund8 8re unrestiictèj fvrKl$ which are avallable for use at the di$crelh?n of the Tru$tso$ in ftjrtherance of thg 9?neral objectives of the Charity and whith have not been d85ignat8d for other pup)ses. R8slricted funds are funds which are to bg used in accordanee wilh Spec1¢ restrith'cfig imposed by nor8 or whlch have been roised by the Charity for particular purposes. The costs of raising and Iministering such fvnds are Charged against the specifie fund. The alm and use of ea¢h restricted fund Y6 $¢1 out in the notes to Ihe finwcial 8tatemenl8. Investment income. gains and losses are alkncaled to the appropriate fund. 113 Rol8 of voluntser8 Thg tharty reli8s on the effort8 of118 45 volunteers who contributed during the year. The value of the volunteers 1$ not incorporated thIn th• aunts. Incixm from don•tlon$ and legxles ReStrIct Unrestrf¢tsd funds funds 2022 2022 Total funds 2022 Tot81 funds Donatlony Grant6 Govemffnt grants 850 54,030 1,81 21.307 8,254 2.866 7S,337 8,254 8,&37 38,742 87,762 54,880 31.367 ,247 135.041 Total 2021 54002 77,039 135,041 Pag¢ 15
THE ANSTICE eOMMUNifY TRUST NOTES TO The FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2022 In¢ome from ch4vltablo activitles R•8trl¢ted UnroStrict•d funds funds 2022 2022 Total funds 2022 Total 2021 Income from ¢haritable activrties 11,250 161,525 172.775 72,056 Tot812021 42. 29,556 72,056 Income from other trading actlvtties Income from fundr•15ing Unrestrlctgd funds 2022 Total funds 2022 Totsl funds 2021 Community Fundraising ACT Fundrak%ing Events 5.709 5,709 384 513 (105) 6,093 6,093 408 Totsl 2021 408 Investment In¢ome Unrestrlct•d funds 2022 Total funds 2022 Tol funds 2021 Rental in¢¢Jne 13.500 13,500 6.7 Tot812021 6, 7C(I 6,7 Page 16
THE ANsllcE COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Exp•ndlture on rJlslng funds Costs of raising voluntary Incorno Restricted Unrestrfeted funds fund$ 2022 2022 Total funds 2022 Total fvnds Costs of rnisiryj voluntary income- wagg5 and sa8 44.709 11.602 58,311 42,886 Total 2021 41,578 1.308 42,888 Fundrnlslng trndlng exn¢I RtrIcted Unr•stfiCted fund$ funds 2022 2022 Total funds 2022 Tot81 fund$ 2021 Fundraising trading expenses 1,444 Total 2021 787 657 1.444 Anjtysls of exp•ndlture by a¢tiviti•s A¢tivities undertatton dir•ctty 2022 Support costs 2022 Total funds 2022 Total funds 2021 Costs of RunnirvJ Centre 47,435 155,888 203,323 145,819 Total 2021 30,896 114,923 145,819 Page17
THE ANSTICE COMMUNifY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Anatyslts tsf expondlturg by actlvttlos (continued) Analysls of dlroct costs Totsl lund8 2022 Total funds 227 A¢tlvlti•# 2022 Bar Pur¢hases Cafe Purthases Arts council project Spgnding Security Equlpment Hire Advertising Enlfjrtainmenl Big coat purchases Repairs, maintenance & chaning 18.204 20,259 32 736 4,093 795 5,316 16,204 20.269 32 736 4,093 796 5,316 1.426 4,808 162 3, 786 19,459 1.255 47.435 47,436 30,896 Tot812021 30,896 30,896 Page 18
THE AN8TICE COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2022 Analysls of expendlture by actlvltles {conttnued) An•tysls of support costs Total funds 2022 Tol Actlvltl•s 2022 2021 staff costs DepreCiatn Con$uftarKy FundraisiThJ Costs Qas and Electric Training AccountiNJ Statlonary, PrintirvJ ond Post Leg81 costs Te*hon& and Intemet Sundry Computer Co8t$ Svbscriptions mntenanCe Premises Costs Heamh and Safety Insurance R8freshmènts 89,384 17.489 989 (771) 15,335 89.384 17,489 989 {771) 15,336 2,862 2.638 2,608 52,039 16,373 1. 191 12,340 2,638 2.608 2,361 2.767 3,tr23 3,922 2,767 3.823 3.922 575 7.174 7,618 1.724 2,480 13 6,2 5.164 1,206 1,763 29 6,266 6,164 1,206 1,763 155,888 1SSM8 114,923 Tota12021 114.923 114.923 1nd•nd1nt •x•minerfs rwnungratlon The independent examinerfs remuneration amounts to an independent examiner fee d £2.220 12021- £1, 110). Page 19
THE ANSTICE COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMÉNTS FOR THE YEAR ENDED 31 MARCH 2022 10. Staff costs 2022 Wage$ and salaries Social security costs Contributicn to dord contribution pension schemes 137.761 5.381 2,SS3 92,&31 1,978 1.620 146.695 96,369 The average numbor of per8on5 employed by the Chafbty during th8 year was as follm.. 2022 No. 2021 Average number of employees 16 No employee reiVed remuner*ion amounting to more than £80,000 in either year. The management Fersonnel of the charity consi$led of the trustees, Finance Manager and Centre Manager. The total remuneration paid to key management peN)nnel (Centre Manager) was £20,276 (2021- £18.3471. 11. Trustees. remun•rntlon and oxponses Duriw the year. no Truste85 recoived any rwnuneration or other berdlts (2021- £NILJ. During year 8nd8d 31 March 2022. no TTU6tee eypenses hove been Incurr (2021- £NIL). Page 20
THE ANSTICE COMMUNITY TRUST MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 12. Tanglble flxed assets L•as•hold Improvew FÈxturg$ and ments rttings Offlce ulpment Total Cost or valuatlon At 1 April 2021 Additi)ns 114.933 50,971 11.630 1.230 167.134 1INO At 31 March 21Y22 114933 62,601 1.230 178,764 D•pr•clation At 1 April 2021 Charge for the yaar 13A09 11A93 5,263 566 637 410 19,309 17,468 At 31 Marth 2022 24.9)2 10,828 1.047 36.777 N•t book valuo At 31 March 2022 90,031 51.773 183 141,987 At31 March 2021 101,524 45,708 147.825 13. 8tock¥ 2022 2021 Bar stock 4098 14. D•btorn 2022 2021 Due YAthln one year Te debtors Prepayments and accruad inco 11,214 8,360 1.601 1, 196 16,564 2.797 Pag821
THE ANsllcE COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 16. CredltorJ: Amounts falllng due within on• yo•r 2022 2021 Trade creditors Other taxation 8nd soclal sacurily Pension n loan payable Ateruals Defefred Income 8,800 2.526 701 4,292 12,213 6,217 1,797 3to 4.076 28,532 12.400 2022 2021 Income deferred in th8 year 12,213 Deferred Incom¢ at 31 March 2022 12,213 Deferred Income relates to rrM)nies receNed in *Jvan¢e for the Ballroom hire and events. Page 22
THE AN8TICE COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 16. St#tèm•Trt of fvnds Statsment (rffunds- currgnt yoar Balance at 31 hlaf¢h 2022 B•lan¢e at 1 Aprll 2021 Incom• Expenditur• Unrnstrlctgd fvnd6 GeneTO1 Funds- all funds 66,014 212,486 1188.160) gOA39 R•strl¢t•d funds Powgr to Change- leasehold improvemènt8 Ptrwer lo Change Reaching Communith88 KIt¢n Renov8tDn Youth CIL*J Othei Recovgry Men's Mental Health Big Coat Rotary dub Idverde garden refurbishment Modeley tovm council Arts Council 94,737 14,427 30.489 14,532 4.980 110.726) {2I069) {20,835) 11.999 149801 1285) 3.692) 84,012 3,608 52.171 123 4,360 11.250 42.617 4,360 3,692 6.860 542 983 970 200 (9831 (7701 200 9,639 15.236) 173,223 66,130 171.4741 167,879 Total of fund8 239.237 278.815 1259.634) 268.218 17. Summary of fundB Summary of funds- current y•ar Bal4nce at 31 March 20Z2 Balance at 1 Aprll 2021 Income Expondltur• GeneTrl funds RestrFCted funds 66.014 173223 212,486 66,130 114160) 171A74) 90.339 167,879 239,237 278,61S (259.634 258,218 Page 23
THE ANSTICE COMMUNiff TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2022 17. Summary of fundts Icontlnuodl R•strlctod Funds Power to Change Communty - For providing a much neéded SOC1, cultural and communty cenlrè for th8 people of Madeley in the fomi (rf a renovated Anstice Memorial Hall also providing business development support and a package to develop Anstsce Communlty hall to the next stage of its development. Power to Change Community Leasehola Improveme - For renovatirkg the c8ntre, the furKI 18 represented by fixed assets. The leasehc4d improvem8nt are depreciated over 10 years. the expenditure each year is the depreclon charg8. Reaching Communrti8s- Providing for salary of Volunteer manager Arts Coun¢il- Support forArt¥ Council Projt. Kltchen RerKJvations- For the addition and renovation of kilchgn faalili05. The kitchen rer*)vations are in fixed assets under fixtures and fittings. The ftureS and fing$ are being depredated over 10 years. the expenditure each year is the deprecIatn charge. Youth Club - Support forthe Youth Club Induding workers. Signage - Provided for $i9nag8 In Ihe Communty h?11. Recovery- For the devolopment and enhancement of our café to accommodate the health quirnents of Covid recovery T & W Diversty - To enab dlvetsification of the acllvltles that could ke offered in resFonse to the new way of working 'after Covid. Big Coat Proj1 - Use of building whilst dosures occured for pvrchasing Suppty coats and shcth for chIren on b8haif of Telford & Wrekin Council. Rotsry Club- For the addition of a trophy cabinet. 1¢kne Garden refurbishment- For the relurbishmnt of th& trust's garden. IAen's mentsl healih - comts'n8tion of dcnatM)ns to enable assistance and awarene88 in men'8 mental health issues. other- Other small r6strKted funds Page 24
THE ANSTICE COMMUNITY TrUST NOTES ro THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. Anal1$ of net ass•ts bOtson funds Analysls of not aBsots b•twe•n funds . curr•nt year RMtricl•d Unr•strfctgd funds funds 2022 2022 Total funds 2022 Tangible fixed a38ets Current a88ets Credhors due within one year 105,034 71,334 18.4891 36,953 73,429 (20,043) 141,987 144,763 {28,6321 Totsl 167,879 90.339 258,218 Analysis of n•t ass•ts b•twn funds. prlor y•ar Restricted Unreslrictgd funds funds 2021 2021 fiinds 2021 Tangible assets Current 888ets Creditm due within one 107,208 66,015 40,617 37,797 112,400) 147,825 103,812 (12.4CQ) Total 173,223 66,014 239,237 19. Ponslon commltments The charty ¢)perate8 a defined contribution pension 8themÈ. The 898ets of the schem8 are held separatety from those of the tharity in an independenty administd fund. The pen$ion costs show in note 12 fepresent th8 contribLrtvJns paythe by the Charity to these funds. Rel•tsd party trnn8aCtlon8 There no related paty transadions within Ihe ygar. 21. The Anstice Community Trust has obtained a lease on the The AnstKg Memorfal Hall from the 30 January 2020.The conlraclual temi is for 25 years from that date. The lease rent starts frorn the 30 January 2030 and will be rev every 5 years. The open value of the rent ¢an agreed with the larHllord, or the open market value wlll be determlnèd by a Sueyor. Page25