REGISTERED COMPANY NUMBER: 09838070 (England and Wales) REGISTERED CHARITY NUMBER: 1165340
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 October 2020 for StoryHouse Project
||Page|
|---|---|
|Report of the Trustees|1 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 12|
|Detailed Statement of Financial Activities|12|
## **Trustees and Directors Report**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2020. The trustees have adopted the provisions of 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).
## **Objectives and activities**
Our charity's purposes as set out in the objects contained in the company's Memorandum of Association are to advance the Christian faith in accordance with the principles, practices and tenets of the Church of England in such ways as the Trustees in their absolute discretion shall think fit.
StoryHouse is a charity set up by St Luke's Church to benefit the community in Crosby and create an accessible form of church for people who feel like they don't fit anywhere else and to help the regeneration of Crosby Village and to improve community connections. This vision is expressed through a constant presence of a coffee shop with staff who are available as a listening ear and to pray with people. Through our community space we offer space for local community organisations and start up sole traders and our own community events. On Sunday in the cafe and during the week around Crosby we are a church that aims to be accessible to locals who may find traditional forms of church inaccessible.
At our trustee meetings we review our effectiveness in delivering our aims and objectives, this document is a result of that ongoing work. This review looks at the success of each area of activity and how it has benefited the public. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities.
## **Achievements and Performance**
Due to the impact of coronavirus StoryHouse church services moved online and continue to be held every Sunday and broadcast live through Facebook and YouTube. Midweek services are held via Zoom and this year online Alpha was launched. Additional funding was received through Eat Out to Help Out, the furlough scheme and grants which assisted the running of the café.
## **Financial review**
Total income is £197,921 (2019: £188,577) and total expenditure is £170,317 (2019: £195,621) resulting in a net surplus of £27,604 (2019: £7,044) for the year. A cashflow statement is not presented as the cash flow exemption has been utilised. Reserves of £10,000 are kept by the charity.
## **Post balance sheet events**
Coronavirus has had a significant impact on the café which was closed for a period of time in 2020 through use of the furlough scheme. A cashflow forecast has been prepared for the 12 months to October 2021 to demonstrate that StoryHouse will be able to maintain positive cashflows over that period.
## **Structures, Governance and Management**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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The trustees have met approximately every quarter this year. As well as being the accountable body trustees also acts as line managers and volunteer with some of the work of the charity. The senior manager, café manager and one of the lay ministers for the church also attend these meetings to give operational feedback. The Senior Manager who is also the pioneer minister reports directly to the trustees.
Exemptions from disclosure and funds held as a custodian are not applicable for StoryHouse so have not been included.
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## **REFERENCE AND ADMINISTRATIVE DETAILS Company Name** StoryHouse Project
## **Registered Company number**
09838070 (England and Wales)
## **Registered Charity number**
1165340
**Registered office** StoryHouse 32 Liverpool Road Crosby Liverpool L23 5SF
## **Trustees who served during the year**
H Condran (appointed 9/6/20) P Cook (appointed 14/1/20) A M Hedley S Scaife (resigned 30/11/19) A L Swift R A Turner (resigned 23/5/20)
## **Company Secretary**
H Condran
## **Independent examiner**
Mrs R Toan - Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW)
Approved by order of the board of trustees on and signed on its behalf by:
Helen Condran
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## **Independent examiner's report to the trustees of StoryHouse Project ('the Company')**
I report to the trustees on my examination of the accounts of StoryHouse Project for the year ended 31 October 2020.
## **Respective responsibilities of trustees and examiner**
As the charity's trustees (who are also the directors for the purposes of company law) 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 StoryHouse Project'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 Charities 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:
- accounting records were not kept in respect of StoryHouse Project 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 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 mater 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.
Name: R Toan Professional qualification: Chartered Accountant, ICAEW Address: 62 Circular Drive, Chester, CH4 8LX Date: 24[th] July 20
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StoryHouse Project - Report of the Trustees for the year ended 31 October 2020
Statement of Financial Activities (including Summary Income and Expenditure Account) for the year ended 31[st] October 2020 – Restricted and Unrestricted Funds.
|Notes
**Income and endowments from:**
Donations and legacies
2
Charitable activities
3
Other income
4
Investment income
5
**Total**
**Expenditure on:**
Charitable activities
**Total expenditure**
Net profit/(loss)
6
**Reconciliation of funds:**
Total funds brought forwards
**Total funds carried forward**|2020
2019
Total
funds
Total
funds
£
£|
|---|---|
||63,793
48,404
85,341
137,827
48,786
2,335
1
11|
||**197,921**
**188,577**
(170,317)
(195,621)|
||**(170,317)**
**(195,621)**|
||27,604
(7,044)
16,090
23,134|
||**43,694**
**16,090**|
.
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StoryHouse Project - Report of the Trustees for the year ended 31 October 2020
Balance Sheet as at 31 October 2020
|**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors**
Amounts falling due within one year
11
**Net current assets/(liabilities)**
**Total assets less current liabilities**
**Creditors**
Amounts falling due after more than one year
12
**Net assets**
**Funds**
Restricted and unrestricted funds
13
**Total funds**|2020
2019
£
£
15,429
20,472
2,028
2,371
35,830
6,807|
|---|---|
||37,858
9,178
(9,593)
(13,560)|
||**28,265**
**(4,382)**|
||**43,694**
**16,090**
-
-|
||**43,694**
**16,090**|
||43,694
16,090|
||**43,694**
**16,090**|
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
The financial statements were approved by the Board of Trustees on 26[th] July 2021 and were signed on its behalf by:
Helen Condran Trustee
Page 6
StoryHouse Project - Report of the Trustees for the year ended 31 October 2020
Notes to the Financial Statements
## **1. Accounting Policies**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Restricted funds are funds that are given toward a specific cause or project.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at an annual rate in order to write off each asset over its estimated useful life which is considered to be five years (2019: 5 years).
## **Leased asset**
At inception the charity assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement. The prior year has been restated to reflect the finance lease and the prior year impact has been disclosed in the finance lease note and the fixed asset note.
i. Finance leased assets
Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases.
Finance leases are capitalised at commencement of the lease as assets at the fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease. Incremental direct costs, incurred in negotiating and arranging the lease, are included in the cost of the asset.
Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.
The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of the capital repayments outstanding.
ii. Operating leased assets
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StoryHouse Project - Report of the Trustees for the year ended 31 October 2020
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Gift Aid**
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds 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. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Hire purchase and leasing commitments
## **Employee benefits**
The company provides a defined contribution scheme for employees.
## **Volunteer help**
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
## **Settlement of insurance claims**
Insurance claims are only included in the Statement of Financial Activities when the general income recognition criteria are met and are included as an item of other income.
## **Liability recognition**
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## **Debtors**
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
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StoryHouse Project - Report of the Trustees for the year ended 31 October 2020
## Notes to the financial statements (continued)
## **2. Donations and legacies**
|Donations received from supporters
Other donations
**3. Charitable activities**
Shop income
**4. Other income**
Job retention scheme
Eat Out to Help Out
Grants
Total
**5. Investment income**
Bank interest
**6. Net income/(expenditure)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation
Rent|2020
2019
£
£
63,793
48,404
-
-
2020
2019
£
£
85,341
137,827
2020
2019
£
£
21,296
-
2,106
-
25,383
2,335
48,786
2,335
2020
2019
£
£
1
11
2020
2019
£
£
10,625
12,415
19,583
20,000|
|---|---|
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StoryHouse Project - Report of the Trustees for the year ended 31 October 2020
## **7. Trustees remuneration and benefits**
There were no trustees remuneration or other benefits for the year ended 31 October 2020 or for the prior year. There were no trustees’ expenses paid for the year ended 31 October 2020 or for the prior year.
A Senior Manager is employed by StoryHouse and is considered to be a key management personnel role responsible for undertaking day to day responsibilities of managing activities. The amount of remuneration paid for the year to Oct 2020 was £20,000 and pension contributions of £414.12 were paid on his behalf by the charity.
## **8. Staff costs**
The average monthly number of employees during the year was as follows:
|Average monthly number of employees
Staff costs
Salaries and wages
Social security costs
Pension costs
Total staff costs|2020
2019
9
9
2020
2019
£
£
87,391
87,264
1,528
1,691
1,101
1,092|
|---|---|
||90,020
90,048|
StoryHouse operates a defined contribution pension scheme for its employees. Contributions of £1,101 (2019: £1,092) were paid during the year in respect of the defined contribution scheme. No employees received emoluments in excess of £60,000.
## **9. Tangible fixed assets**
|**_Cost_**
At start of year
Additions
Disposals
**At end of year**
**_Depreciation_**
At start of year
Charge/(credit) for the year
**At end of year**
**Net book value at the end of the year**
Net book value at the start of the year|Fixtures
and fittings
Plant and
machinery
Office
equipment
Total
£
£
£
£
46,191
9,750
474
56,415
-
5,258
324
5,583
-
-
-
-|
|---|---|
||**46,191**
**15,008**
**798**
**61,998**|
||26,452
9,208
284
35,944
9,239
1,237
149
10,625|
||**35,691**
**10,445**
**433**
**46,569**|
|||
||**10,501**
**4,563**
**365**
**15,429**|
|||
||19,739
542
190
20,471|
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StoryHouse Project - Report of the Trustees for the year ended 31 October 2020
## **10. Debtors: amounts falling due within one year**
|Trade debtors
Rent deposit
Total|2020
2019
£
£
362
704
1,667
1,667|
|---|---|
||2,028
2,371|
## **11. Creditors: amounts falling due within one year**
|Trade creditors
Taxation and social security
VAT
Finance lease
Other creditors
Total|2020
2019
£
£
1,675
1,067
5,552
5,736
583
4,510
-
767
1,783
1,480|
|---|---|
||9,593
13,560|
## **12. Finance lease**
|Finance lease: due within one year
Finance lease: due in more than one year
Total|2020
2019
£
£
-
-
767
-|
|---|---|
||-
767|
Finance lease assets relate to coffee grinders being purchased over 3 years from 2017. The net book value of finance leases held in fixed assets at the year-end was nil (2019: £2,834).
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StoryHouse Project - Report of the Trustees for the year ended 31 October 2020
## **13. Unrestricted and restricted funds**
||Balance at the|Income|Expenditure|Balance at end|
|---|---|---|---|---|
||start of the||and gains|of the year|
||year||||
||£|£|£|£|
|Unrestricted funds|16,090|192,167|(165,898)|42,359|
|Restricted funds|-|5,754|(4,419)|1,335|
|Total funds|16,090|197,921|(170,317)|43,694|
Restricted funds relate to giving towards seating and funding from the Joshua Centre
## **14. Related party disclosures**
Apart from the amounts paid to the Senior Manager of StoryHouse as key management personnel there were no related party transactions for the year ended 31 October 2019.
## **15. Charitable activities expenditure**
|**_Expenditure on:_**
Purchases
Wages and salaries
Other operating leases
Rent
Church and mission
Rates, water and waste
Light and heat
Telephone
Advertising
Depreciation
Bank charges
Repairs and renewals
Software licenses
Insurance
Accountancy fees
Legal fees
Other
**Total expenditure**|2020
2019
£
£
37,091
56,490
90,020
90,048
-
-
19,583
1,067
20,000
1,334
856
2,491
2,921
3,061
469
466
335
281
10,625
12,415
75
176
420
2,224
1,421
1,548
2,386
2,649
392
406
824
-
1,831
2,031|
|---|---|
||**170,317**
**195,621**|
## **16. Fees for examination of accounts**
Audit and accountancy fees
2020 2019 £ 392 406
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