Charity registration number: 1164768
STOREHOUSE COMMUNITY TRUST
Annual Report and Financial Statements
for the Year Ended 31 August 2021
STOREHOUSE COMMUNITY TRUST
Contents
| Contents | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 11 |
STOREHOUSE COMMUNITY TRUST
Reference and Administrative Details
Trustees
Michael John Smither Gwyn Pritchard Jennifer Ann Holman Margaret Edna Pritchard
Principal Office
Stonecroft Main Street Little Brington Northampton NN7 4HS
Charity Registration Number
1164768
Bankers
CAF Bank
Independent Examiner
Kolade Andrew Alli ACMA KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End, Hampshire SO18 3NA
Page 1
STOREHOUSE COMMUNITY TRUST
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2021.
Trustees: Jennifer Holman (Secretary); Gwyn Pritchard (Chair); Margaret Pritchard; Michael Smither (Treasurer).
The Trust is responsible for Little Fishes Pre-School and various other activities as occur.
The new pre-school year (Sept 20) started with Covid -19 precautions in place. The Trustees expressed gratitude to the staff for managing these testing times. This year saw 34 children starting to attend with additional children to come in the Spring Term making 14 children attending full-time. 5 children attending have high special needs, there are others with lesser special needs on role. The new term started with 7 members of staff. We congratulate our Deputy Manager on gaining her MA in early years education.
In the Autumn work was done on reviewing Staffing Scales and salary scales. The aim was to clarify progression in responsibilities and to encourage present staff to consider taking on training for increased responsibility. This was to facilitate a natural progression when the present Manager might retire. The new pay scale to be effective from April, 2021.
All staff received further Child Safeguarding during the Autumn Term as well as training in Epilepsy management.
In February Jenny Holman attended the setting in order to carry out Staff Appraisals and recommended, along with the Manager & Deputy which staff should be on which level of the new Staffing Scale.
When the Insurance came up for renewal the cost had risen considerably. Our Treasurer was able to find a more reasonable alternative, but they required additional safety measures to be in place, namely fingerboard on doors. We are grateful for a donation to cover this cost.
The Manager proposed an increase in fees starting in September 2021 which was accepted. She also informed the meeting that the Department of Education were bringing in a change to the Early Years curriculum from September 2021 and the staff were familiarising themselves with the changes in preparation. The Manager passed on the appreciation of the staff that they had not been furloughed.
The Treasurer reported in April, 2021 that the end of year accounts were still healthy despite Covid.
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STOREHOUSE COMMUNITY TRUST
Trustees' Report
Lodge Farm Community Centre where the pre-school is situated, continued to suffer bouts of vandalism during the year. In particular the outside area was broken into and equipment was damaged. A major incident occurred in August 21. An arson attack burned down a large wooden Playhouse which was used for storing a significant amount of play equipment. The intensity of the fire caused damage to the brick wall at the back of the play area and to part of the woodwork to the covered area and to guttering and nearby PVC window frames. We are grateful for the prompt action of the local Fire Brigade in extinguishing the fire and to the newly formed West Northants Council (who are now responsible for maintaining the building structure), for a prompt response to repair the damage caused. We hope that this incident will accelerate the start the long awaited and promised work needed to improve security to the premises.
It has been impossible to continue to run the Coffee bar which has in the past offered a gathering place for parents and children in the morning waiting for Pre-school to open due to Covid.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
The annual report was approved by the trustees of the charity on 30th September 2021 and signed on its behalf by:
......................................... G Pritchard Chair of Trustees
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STOREHOUSE COMMUNITY TRUST
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper 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, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.
Approved by the trustees of the charity on 3 October 2021 and signed on its behalf by:
......................................... Michael John Smither Trustee
Page 4
STOREHOUSE COMMUNITY TRUST
Independent Examiner's Report to the trustees of STOREHOUSE COMMUNITY TRUST
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2021 which are set out on pages 6 to 11.
Respective responsibilities of trustees and examiner
As the charity’s trustees of STOREHOUSE COMMUNITY TRUST 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 STOREHOUSE COMMUNITY TRUST's accounts carried out under section 145 of the 2011 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
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:
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accounting records were not kept in respect of STOREHOUSE COMMUNITY TRUST as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
...................................... Kolade Andrew Alli ACMA
KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End, Hampshire SO18 3NA
- 3 October 2021
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STOREHOUSE COMMUNITY TRUST
Statement of Financial Activities for the Year Ended 31 August 2021
| Statement of Financial Activities for the Year Ended 31 August 2021 |
Statement of Financial Activities for the Year Ended 31 August 2021 |
|---|---|
| Unrestricted funds Total 2021 Total 2020 |
|
| Note £ £ £ |
|
| Income and Endowments from: | |
| Charitable activities | 143,408 143,408 129,575 |
| Expenditure on: | |
| Charitable activities | (138,795) (138,795) (131,719) |
| Total expenditure | |
| (138,795) (138,795) (131,719) |
|
| Net income/(expenditure) | |
| 4,613 4,613 (2,144) |
|
| Net movement in funds | |
| 4,613 4,613 (2,144) |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 127,805 127,805 129,949 |
|
| Total funds carried forward 7 |
|
| 132,418 132,418 127,805 |
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2020 is shown in note 7.
Page 6
STOREHOUSE COMMUNITY TRUST
(Registration number: 1164768) Balance Sheet as at 31 August 2021
| (Registration number: 1164768) Balance Sheet as at 31 August 2021 |
(Registration number: 1164768) Balance Sheet as at 31 August 2021 |
|---|---|
| 2021 2020 |
|
| Note £ £ |
|
| Current assets | |
| Cash at bank and in hand 6 |
132,418 127,805 |
| Funds of the charity: | |
| Unrestricted income funds | |
| Unrestricted funds | 132,418 127,805 |
| Total funds 7 |
|
| 132,418 127,805 |
The financial statements on pages 6 to 11 were approved by the trustees, and authorised for issue on 3 October 2021 and signed on their behalf by:
......................................... Michael John Smither Trustee
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STOREHOUSE COMMUNITY TRUST
Notes to the Financial Statements for the Year Ended 31 August 2021
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
STOREHOUSE COMMUNITY TRUST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
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STOREHOUSE COMMUNITY TRUST
Notes to the Financial Statements for the Year Ended 31 August 2021
2 Income from charitable activities
| 2 Income from charitable activities |
|
|---|---|
| Unrestricted | |
| funds Total Total |
|
| General 2021 2020 |
|
| £ £ £ |
|
| Parental Fees | 11,571 11,571 10,888 |
| Northamptonshire county council funding | 131,827 131,827 114,211 |
| Donation | - - 200 |
| Insurance Claim | - - 4,125 |
| Bank interest receivable | 10 10 151 |
| 143,408 143,408 129,575 |
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STOREHOUSE COMMUNITY TRUST
Notes to the Financial Statements for the Year Ended 31 August 2021
3 Expenditure on charitable activities
| 3 Expenditure on charitable activities |
|||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | Total | |
| General | 2021 | 2020 | |
| £ | £ | £ | |
| Wages and salaries | 100,630 | 100,630 | 99,428 |
| Staff NIC (Employers) | 14,016 | 14,016 | 14,028 |
| Staff pensions | 3,504 | 3,504 | 3,054 |
| Training | 516 | 516 | 54 |
| Rent | 13,445 | 13,445 | 8,185 |
| Consumables | 2,678 | 2,678 | 2,860 |
| Snacks | 829 | 829 | 753 |
| Office Costs | 1,279 | 1,279 | 1,498 |
| Bank Fees | 84 | 84 | 60 |
| Insurance | 938 | 938 | 1,165 |
| Memberships | 249 | 249 | 184 |
| Cost of Uniform | 277 | 277 | - |
| Independent examiner's fee | 350 | 350 | 450 |
| 138,795 | 138,795 | 131,719 |
4 Trustees’ remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
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STOREHOUSE COMMUNITY TRUST
Notes to the Financial Statements for the Year Ended 31 August 2021
5 Taxation
The charity is a registered charity and is therefore exempt from taxation.
| 5 Taxation The charity is a registered charity and is therefore exempt from taxation. |
5 Taxation The charity is a registered charity and is therefore exempt from taxation. |
|---|---|
| 6 Cash and cash equivalents |
|
| 2021 2020 |
|
| £ £ |
|
| Cash at bank | 132,418 127,805 |
| 7 Funds |
|
| Balance at 1 | |
| September Incoming Resources Balance at 31 |
|
2020 resources expended August 2021 |
|
| £ £ £ £ |
|
| Unrestricted funds | |
| General | |
| 127,805 143,408 (138,795) 132,418 |
|
| Balance at 1 | |
| September Incoming Resources Balance at 31 |
|
2019 resources expended August 2020 |
|
| £ £ £ £ |
|
| Unrestricted funds | |
| General | |
| 129,949 129,575 (131,719) 127,805 |
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