IDEAS HUB CHELMSFORD Charity number 1164085 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st March 2021 Nicola Deackes Independent Examiner
IDEAS HUB CHELMSFORD CONTENTS FOR THE YEAR ENDED 31 MARCH 2021 Trustees Annual Report Page Statement of financial attivities Balance Sheet Notes forming part of the financial statements Independent examination report
IDEAS HUB CHELMSFORD TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH 2021 REFERENCE AND ADMINISTRATIVE DEfAILS Registered Charity Name and Number Ideas Hub Chelmsford 1164085 Admin address 20 Roxwell Road. Chelmsford. Essex, CM12PP E.'hosts@ideashubchelmsford.org T.'07880990443 Trustees M M Noble- appointed 23.10.2015- reappointed 0710212018 Dr P Probert- appointed 23.10.2015- reappointed 0210412019 Ms K Fulcher- appointed 23.10.2015- reappointed 07/Q212018 Mr K Miller- appointed 15.12.2019 Indèpendent Examiner Nicola Deackes Commencement of Activlties Artivities commenced 23rf Ottober 2015 STRUCTURE, GOVERNANCE. AND MANAGEMEMr Governlng document The charity is controlled by tts governing document, a deed of Trust, and constitutes an incorporated charlty- 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 placÈ to provide reasonable assurancÈ against fraud and error. OBJECTIVES AND ACTivrriES The Ideas Hub Chelmsford became a charity on the 23rd ortober 2015. The Ideas Hub provides a community creative space and advancement of education for the wellbeing of residents. Chelmsford centre, not being a parished area {38% of Chelmsford residents, c. 70.0001 offers no community purposed building. The Ideas Hub's operating address is now The Art Place in Meadows Shopping Centre.
IDEAS HUB CHELMSFORD TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH 2021 Objertlves and alms The objertives and aims of the charity are to further or benefit the residents of Chelmsford and the neighbourhood, without distinttion of sex. sexual orientation, race or of political, religious or other opinions by associatin8 tO8ether the said residents and the local authoritie5. voluntary and other organisations in a comrr()n effort to advance education and to provide facilities in the InteSts of social welfare for recreational and leisu time occupation with the objertive of improving the conditions of life for the residents. In furtherance of these objects but not otherwise, the trustees shall have poVr to establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of suth a centre for artivities promoted by the charity in furtherance of the above objects. Significant artlvitles in the period The following a a selertion of the activities pn)vided by the Ideas Hub in the period- Providing facilities in the interest of social welfare for recreational and leisure time occupation, including support for good Mental Health by: Providing befriending sessions for chats and signposting Providing daily creative artivitie5 & workshops= arts. crafts. Shed Inside (DIY type attNitiesl and other artivities o Providing a "connecting service": by proactivety. fa to face and by emèil. connecting individuals to seNices, making services aware of other serVIS their servio users may benefit from and by supporting the local authoritie5 With grassroot connerting. Advantin8 education by: Organising regular cultural days including supporting the British kience Festival. Dyin8 Matters in Essex and STEAM workshops in deprived local xhools Supporting other local organisations in deliverin8 educational events induding Chelmsford Arts and Cultural Festival Note: The ideas Hub Chelmsford prides itself of not replicating what exists already but by establishing where the gaps are and by workin8 at filling those gaps. Public benefft The following are a selection of the social impacts of the Ideas Hub during the period 1st April 2020 to 31sr March 2021: Overall wellbeing of the residents The Ideas Hub'5 activitie5 and befriending 5ession5 SUPPOrted friendship development and creatIOnal activities, hence providing better mental health and reducing loneliness. The Ideas Hub supported over 197 organisations for the benefft of their seThice users The Ideas Hub's volunteering programme has an efficient by-pr(Mluct of tsckling loneliness and re-skilling Advancing education o The Ideas Hub, this year, has provided 5fEAM workshops in 2 local primary schools in the deprived area of Melbourne and provides specialist crafts teachers
IDEAS HUB CHELMSFORD TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH 2021 Organisational Informatlon The Ideas Hub Chelmsford is managed and run by an average of 70 volunteers from a wide variety of cultures and backgrounds. Ideas Hub Chelmsford is a self-financing charrty, independent from Local Authorityfinancial support. Most of its income for the tax year 2021>2021 came from grants and income generated from art sales (started in October). The Ideas Hub has been provided with a rent-free space to provide a creative community space for recreational activities and support such as signposting and Face to Face conversations. The Ideas Hub 15 also heavily involved in the grassroot cultural local scene eg. Festival of Lights and uses this involvement to deliver sfEAM education to local pupils (most in deprived area) and connecting them with their community. Flnal Overvlew and Plans for the Future The Ideas Hub's target for the next tax year is to: o Carry on delivery of STEAM education and provision of befriending sessions and creative attivities/ workshops Carry on working on makingthe Ideas Hub more resilient Working more closely with Dying Matters in Essex to tackle issues related to death not being talked about and leadin8 to trauma Reserve Policy The trustees agree that a minimum sum of £5.0 is retained to act as a resenie to ensure the health of the charity. Approved by order of the board of trustees on and si8ned on its behalf by: r K Miller- Trustee
IDEAS HUB CHELMSFORD STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31st MARCH 2021 Total Funds Prior Period Total Funds 2021 2020 Incoming resources Incomlng resources from generated funds Donations and grants Charitable Activities Activities for generating funds Total incoming resour$ Resources expended Cost of generating funds Charitable activities Trading costs Charitable activities Total resources expended Net incoming/{outgoing) resources before transfers Gross transfers between funds Notes 67.092 54.052 16,304 83,397 12,527 66,579 9.108 36,538 45,646 37,751 3.839 77,108 80,947 {14,368) Net incomingl{outgoing)resources 37,751 (14,368) Net movement in funds 37,751 (14,368) Total funds brought forward at 1st April 2020 17,496 31,864 Total funds carried forward at 31" March 2021 55.247 17,496 The notes on page 6-8 form part of these financial ststements
IDEAS HUB CHELMSFORD BALANCE SHEEr FOR THE YEAR ENDED 31st MARCH 2021 Notes 2021 2020 Flxed assets Tangible assets 1,194 1,651 Current assets Debtors Bank balance Cash on hand 11,759 18,876 451 31,086 56,845 230 57.075 Creditors: amount falling due within one year 3,283 Net current Assets Total assets less current Ilabllities Funds of the charlty Restricted funds Unrestricted funds Total Funds 27,517 28,080 2,375 27,079 These financial statements were approved by the Board of Trustees on and were signed on their behalf by K.Miller Signed Date: 17
IDEAS HUB CHELMSFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2021 l.Accounting policies 1.1 Basis of preparation The financial statements have been prepared in accordance with Accountin8 and Reporting by Charities: Statements on Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective l January 20151- (Charities SORP IFRS102)l. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 and the Companies Act 2(X)6. Recommended Practice {SORPI issued in October 2000, revised 2005. 1.2 Incomlng resources Income from donations and 8rants, including capital grants. is included in incoming resources when these are receivable. When donors specify that donations and grants. including capital grants are for a restricted purpose, this income is included in incoming resources of restricted funds when receivable. 1.3 Resources expended and recognltion of liabilities All expenditure is incurred on a receipts and payments basis. The majority of costs are dirertly attributable to the specific Charitable activities. Liabilities are reco8nised on the receipts and payments basis in accordance wtth the Charity Commission accounting principles for small charities. Management and administration of the charity represent Costs incurred in the management of the Charitys assets, organisational administration and compliance with Charitable and statutory requirements 1.4 Depreciation Depreciation is provided to write of the cost of fixed assets over their expected useful All assets 33% Straight Line 1.5 Fund Accountlng Funds held bythe Charity are either: Unrestricted general funds- These are funds which can be used in accordance with the Charitable objects at the discretion of the Trustees Restricted funds- These are funds that 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.
IDEAS HUB CHELMSFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2021 2. Charitable Actlvities Total 2021 Total 2020 Sponsorship Café and catering income Fundraising sales Icommissions on sales) Events/ projetts Space hire Fundraising WAD (We Are Digital) Other Fundraising 8,893 1,240 2,343 26 25 6,222 2,127 1,808 300 5847 3. Grants and Donations 16,304 Total 2021 12,527 Total 2020 Donations Grants 11.789 55,303 67.092 12,232 41,820 54,052 4. Fundraising trading costs Total 2021 Total 2020 Staff costs Operational costs 6.680 2,428 9.108 3,839 3,839 5. Charitable activities Total 2021 Total 2020 Advertising P05t & Stationary Utilities Insurance IT costs Rent Sundries Assets Maintenance Projects Volunteer expenses Volunteer training Workshop expenses Professional fees Depreciation 1,070 1.093 1,504 892 532 1.076 352 1.087 3,818 23,812 397 119 135 650 832 853 30 9,084 72 1.409 61 46.767 683 90 1.029 15,808 1,182 77,108 37.369
IDEAS HUB CHELMSFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2021 6. Creditors Accruals: £3,283 in 2020. £284 in 2021 7. Debtors £11,759 in 2020, none in 2021 8. Tangible fixed Assets (Fixtures and Fittings) Additions in year up to 31st March 2020: £1.409 Less Depreciation of £470 = Remaining balance of £469 Addition in year up to 31 March 2021: £1,087 Less Depreciation of £362 = Remaining balance of £725 9. Going Concern The charity is operating on a going concern basis 10. Related Parties There were no related parties during the year 11. Restricted Funds No comparative figures are included in these accounts as no restricted funds were received or spent in either period
IDEAS HUB CHELMSFORD INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31st MARCH 2021 I report on the accounts of Ideas Hub Chelmsford forthe year ended 31 March 2021 which are set out on pages 4 to 8. Respective responsibilities of trustees and examiner The Charitys Trustees are responsible for the preparation of the accounts. The Charitvs Trustees consider that an audit is not required for this year (under settion 144 (21 of the Charities Att 2011 (The Act) but that an independent examination is needed. It is my responsibilty to: Examine the accounts under section 145 of the Charities Art, To follow the procedures laid down in the General Dirertions given bythe Charity Commissioners (Under settion 145{5llbl of the Charities Act, and To state whether particular matters have come to my attention. Basis of the independent examinerfs Statement My examination was carried out in accordance with the General Direction gwen by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the account presented with those records. It also includes considerations of any unusual items or disclosures in the accounts and seeking explanation from you as trustees concernin8 any such matters. The procedures 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 examinerfs Statement In the course of my examination, nothing has come to my attention which gives me cause to believe that: The accounting records were not kept in attordance with section 130 of the Charity Act: or The accounts did not accord with the accounting records: or The accounts did not comply with the applicable requirements concerningthe form and content set out in the current Charrties (Attounts and Reports) Regulations. I have come across nothing during my examination to which attention should be drawn in this report in orderto enable a proper understanding of the accounts. Nicola Deackes Independent Examiner Date: