Cricklewood Library Trustees, Annual Report For the year ended 31 March 2021 17 January 2022
Friends of Cricklewood Library Contents Page Legal and admlnistralive information Trustees, report Ind8P8fidént examinèrfs roport 10 Statement of financial activities Balance sh88t 12 Notss lo the accounts 13-21
Friends of Cricklewood Library Legal and admlnlstratlve Information Trustees M Langford A Mccarthy M TarSq A Simpson E Lazarus S Long W Tyrrell S Nerdrum L Webb T Archer A Evangellsta appolnted 310912020 re-appolnted 31912020 re4ppointed 31912020 rtrappolnted 31912020 Charlty slatus Charitable Incorporated Organlsatlon Reglstered in England and Wales Charity Number 1168381 Reglstered offlce 152 Olive Road London NW2 6UU Independent Examlner Kathleen Moss ACMA CGMA Kathleen Moss Llmlted 48 Lavffl Terrace London. SE3 9LP Banker6 HSBC S(52 Kllbum High Road London NW6 4HJ
PREAMBLE The trustees present their annual trustees, report and accounts for the year ended 31 March 2021. The accounts have been prepared In accordance wlth the accounting pollcles set out in note 2 to the accounts the Chartties Act 2011 and the Flnanclal Standard 8ppllcable In the UK and Republlc of Ireland IFRS102) (effective 1 January 20151- (Charltles SORP IFR510211. STRUCTURE, GOVERNANCE AND MANAGEMENT The organlsation is a Charttable Incorporated Organisation ICIOI. The CIO was establlshed on 22 July 2016 under a Conslltutlon whlch established the objects and powers ofthe CIO. In the event of the CIO being wound up members guarantee to contrlbute an amount not exceeding £10 to the assets of the CIO. A declslon may be taken elther: at a meeting of the charlty trustees: or by resolution in writing or electronlc form agreed by all trustees. The trustees who served during the year were: A Mccarthy. A Simpson. E Lazarus. L Webb. M Langford. M Tariq. S Long, W Tyrrell, S Nerdrum, T Archer. A Evangellsta RECRUITMENT AND APPOINTMENT OF TRUSTEES Under the requlrements of the Constitutlon. the flrst charty trustee5 will serve for speclflc number of years. Thereafter every trustee must be appolnted for a temi of three years. Any person retlrlng as a trustee Is eliglble for reappointment. A trustee who has served for three consecutive terms may not be reappointed for a fourth consocutlve term but may be reappointed after an intenial of one year. Trustees do not beneflt from the charity. OBJECTIVES AND ACTIVITIES The object of the charity is to advance education for the public benefit, by providing a lending library. reading room and educational facilities for residents of Cricklewood and other users. In addition. the charty works to promote education and cuFtural
activities, in the interest of residents. and other users. social welfare. whatever their background or clrcumstances. to improve the condltion of Ilfe for all. The Trustees are pleased to present the annual report together with financial statements of the charity for the year ending 31 March 2021, which have been prepared to meet the requlrements of the Charities Commission. PUBLIC BENEFIT The activities of the charlty over the year were by necessity confined to promoting the benefit of the community of users in Cricklewood through educational and cultural advancement by ralsing awareness and fundraising to complete the buildlng of Crlcklewood Llbrary. Prlorlty was glven to fundralsing In order to provlde dedlcated facllltles for the nelghbourhood. The Trustees are aware of the Charity Commlsslon guldance on publlc beneflt reportlng as set out In Sectlon 4 of the Charltles Act 2006. The Trustees belleve that the charity achieves a publlc beneflt by provldlng these seNlces as detalled In the objectives and activities referred to above. APPRECIATION Once more, over the year covered by this report the Trustees and other volunteers have worked tIrelesS on an unpald basls and kept the charlty golng, preparlng to open the Ilbrary to open for the communlty. Thanks also go to all groups. organlsatlons and buslnesses that have supported FOCL COMMUNITY NEED The Frlends of Crlcklewood Library IFOCLI exists to support the community In the London Borough of Brent. In north west London. The library is located In a much visited area due to belng adjacent to Gladstone Park; a single bus route Is the only transport within 15 minutes of the library. The area continues to grow. while the profile of resldents Is one of the most diverse communltles In London. The nelghbourhood Includes a hlgh number of people dependent on benefits and who also have Ilmlted educational. leaming and cultural opportunities. Older people and young families in particular are identified as needing a place to meet and learn, through data and from recorded information from the user groups themselves.
ACHIEVEMENTS AND PERFORMANCE The lease for the buildlng was signed on 11 July 2019. the culmination of an enormous amount of work slnce the library was closed in 2011 and 90 years after a library flrst opened on the same slte. FOCL grew out of the communty's wish to keep a Ilbrary in the area and the process leading to the lease being signed also led to ongoing dlscusslon about how the library could offer more of what the communtty wanted, as a social hub. FOCL has now buift stronger links with the council library service. the other Brent communlty Ilbraries and the Communlty Managed Libraries National Peer Neork. of whlch the FOCL chair is a founding Trustee. FOCL has overcome wide ranglng Issues with the structure of the building. to ensure that the community got the m05t out of the resource. The process of managing the problems, the buildlng work and legal matters. has been demandlng In terms of time and learnSng, a really steep learnlng curve. There are also ongoing issues regarding the constructlon and maintenance of the bulldlng and the provlslon of utllltles, whlch we are worklng wlth our landlord to resolve. Our actlvltles over the year were severely impacted by COVID19. and our actlvltSes restricted to: Onllne fundralsing Recruiting volunteers and sendlng out newsletters Soclally dlstanced volunteerlng on preparing the buildlng for opening Participatlon In Brent 2020 London 8orough of Culture observing social distanclng Updating of pollcles end procedures In preparatlon for openlng Sourcing and implementing a library management system appropriate for our needs as a community Ilbrary TRAINING AND CAPACITY BUILDING FOCL Is aware of the necessty of building the capacty of the group in tenns of skills for running a business. and takes opportunities to increase and share knowledge and skills within the group. The chair is a member of the Community Managed Peer Llbraries group. Much of our planned prograTnme was pushed into the next flnanclal year due to Covid-19.
COVID-19 IMPACT STATEMENT The pandemic put a halt to all of our activities for at least 14 months. as mentloned elsewhere in thi5 document. Because we were not trading before the pandemic struck, we had little in the way of financial commitments in terms of paying for utilities and servlces. we were not financially impacted too severely. However. our income generation projections were obviously affected and all of our plans for opening and service provislon were cancelled. Because we were not trading at the tlme the pandemic struck, we were also mostly Ineligible to receive any of the government funding which was on offer at the time. FUNDRAISING Raising money was a key focus for the charlty, in order to complete the library building and get the library open for the community. Fundraislng activity in the community continued, although affected by delays in completing the bullding works followed by the impact of COVID-19. We beneflted from contributSons from LB Brent's NCIL funding stream of £40.025 towards finishing the building. Because of delays due to Covid 19 we were given permission to carry this funding forward into the next financial year. We also benefited from a donation of £5000 from Bernard Sunley Charitable Foundation to pay for the acoustic screen between the activity room and meeting rooms. which will allow us to hire the spaces out individually, thus maximising our income. We also started systematlcally claiming Gift Aid on sm811 donations through KindLlnk, and gained many regular small donations on the same platform. We increased our number of regular small donations Lssing the Vlrgln Money Giving platform. FOCL appreciates the support of the community and funders to make the most of all funding committed to the library. COMMUNI ACTIVITIES Community actlvltles were severety curtailed by the advent of Covid 19 in March 2020 and the resulting regulations preventlng in person meetings. We offered online training Zoom for members of the community who found using technology challenging. Ten volunteers signed up to be online buddies in this programme.
Over the summer of 2020 the library opened for the public to see the slte-specific installation created by artist Brian Griffiths , and part of Brent 2020 London Borough of Culture. COVID measures were observed. We were forced to cancel our annual Carol Singing in December, and were unable to run most activitles we had planned. Two notable exceptions were Cricklereaders Book Group and Cricklewood's Got Talent online talent show. Cricklereaders started in February 2021 and was online initially before moving to in person rneetings later In the year. SIX local book enthusiasts read a donated book, Hope Nlcely's Lessons for Life by Caroline Day and met on Zoom to discuss IL The group has since grown to 10 members. In January 2021. we staged an online talent show for local people. which again ran on Zoom. Several volunteers were involved in the planning and organisation of this event. and 5 local children performed In a varlety of ways - singing. dancing. playing an instrument. We raised some money for the library through this activity too. Our volunteer base grew over the period from 122 to 167. Volunteer training was put on hold due to the impossibility of meeting face to face, but fortunately the funding from Edward HaNist for this purpose was allowed to be carried over for another year. COMMUNICATIONS AND FUNDRAISING The communications team was strengthened by the arrlval of a new volunteer- Princess Francis - who took on responsibility for management of our Facebook and nstagram accounts. She has increased our following and engagement on both platforms. We started using Three Rings to manage our volunteers onllne and the painting of the library and assembly of the shelves and other practical work was achieved using this timetabling device. We also started systernatically claiming Gift Aid on small donations through KindLink. and gained many regular small donations on the same plarform. The pop up librarles at Wlllesden Green station and Cricklewood station were closed by TFL due to infection concerns. FOCL has continued to provide books to the community through the local Mutual Aid group and work with other charities.
BUILDING AND LEGAL The contractors finished most of the work on the building In January 2020. With the support of Hub Architects works were completed by the summer 2020. The group Let'g Palnt the Library events we had planned for the spring of 2020 could not take place. Instead, work to finish the cosmetic work (installing sills and painting walls etc) didn't start until January 2021, when a small team of three volunteers painted the building in 3 daily shifts over several months. Each volunteer worked alone and the building was ventilated between shifts. In parallel with this, our volunteer librarian worked tirelessly on the catalogulng and sorting of our book stock on a weekly basis. FINANCIAL REVIEW There were no premises or staff during the financial year 2020- 21 and thus no need to set aside reserves formally. Going forward, the policy is to ensure we have sufficient funds in the bank to cover all commitments prlor to contracts belng signed and renovation work commencing. In addttion, we aim to keep a contingency fund of £10,000 in case of any cost overruns and unforeseen expenses prior to the library opening, as well as three months general running costs, Includlng staff costs as required. We wlll revlew thls when the Covid-19 situation looks to be resolved and our operational situation will be clearer. In light of this situation, we have received just over £5,000 in sm811 donations from our various donation channels. Alongside the donations from NCIL and Bernard Sunley to finish the building & have an acoustic screen. we were able to pay for most of the running and administrative costs for the library whlle keeping reasonable control of our cash balance of £20,942 by the end of the year but with liabilities due in the next financial year. We had a positive net income of £44,2351 mostly NCIL income) which we carried forward to spend next financial year in finishing the building. As mentioned previously, COVID-19 restrictions have severely hampered our ability to open and operate the library and thus hirelaccrue staff and volunteers this year. As such thls has put our finances in a perilous position due to the need to ensure running costs such as utilities could be paid for despite not being able to open the library and generate Income. PLANS FOR THE FUTURE In the year 2021- 2022 the focus is on planning to offer as full a range of seNices as posslble, wlthln the constralnts of the contlnulng pandemlc. A programme of events
and activities is in development and funds are being sought to cover costs of activities which benefit specific sections of the community targeting groups at rlsk of exclusion. FOCL will continue to consult the local community and work in partnership with other community groups to provide the servlces needed by the community. Priorities will include.. increasing opportunities for families with young children. reducing social isolationlstrategies for wellbeing; promoting healthy lrfestyies through physlcal activity and diet; building communlty cohesion through shared actlvities. We continue to develop relationships with community groups, residents associations, art organisations, Brent Council and public health organisations. The charity continues to aim to generate income for the operational costs of the Ilbrary, continuously reviewing sources of Income and expenditure and buildlng sustainability. In addition to hiring out the premises to groups and individuals providing services which benefit the community. the library will generate income through room hire. We have 5evera5 interested potential hirers and are awaiting the lifting of Covid regulations In order to commence. The charlty will continue to develop Trustee skills and engage with a wider age range and increase diversity to be representstive of the community. TRUSTEE RESPONSIBILITIES The charity trustees are responsible for preparlng the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law 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 Incomlng resources and application of resources. includlng the Income and expenditure. of the charity for that period. In preparing these financial statements. the trustees are required to: select suitsble accounting policies and then apply them consistently- observe the methods and principles in the Charities SOFIP., makejudgements and estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explalned in the financial statements., and prepare the flnancial statements on the golng concern basis unless it Is inappropriate to presume that the charitable company will continuo in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial ststements comply with the appropriate law. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularStles. In so far as the trustees are aware: there is no relevant infor¥Hation of which the charity's examiners are unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant infortllation and to establlsh that the examiners are aware of that information. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2021 was eleven12019: twelve). Trustees are members of the charity but this entitles them only to voting rights. Our Independent Examiner, as appointed by the board, Kathleen Moss Limited Approved by the Board of Trustees on17 January 2022 and slgned on their behalf by Sally Long. Chair of Trustees (Y Sally Long, Chair of Trustees 17 January 2022
Frlends of Cricklewood Llbrary Independent Examinerfs Report to the Trustees of Frfends of Cricklewood Library Charltable Incorporat Organisation Registered In England and Wales Charfty Number 1168381 I roport to tho Iruslags on my examination of the financial statements of Friends of Cricklewryyj Library I'lhe ¢harfty') for the year ended 31 March 2021 which comprise the Stslement of Financial Activities, the Balancg Sheet and Telated notes. This retx)rt 13 made solely to the charitys truste88. as 8 body. in accordance wilh section 145 of th8 Charlti&s Act 2011. My worf( has been undertaken so that I might state to the charitys trustees those mattgrs l am required lo state to them in this rerth and for no other purpose_ To the fijllest exlenl permitted by law, I do rK)t acc8pt or assume restx)nsibilily anyone other than the charity and the charitys trLte8S as a tKKly, for my work. for this report, or for the opinions I have formed. Responsibilities and basis of report As the tnjstees of the charity you are responsible for th8 pr8paration of th8 financial statomonts in acwrdanc8 with the requirements ofthe Gharitles A¢t 2011 Ilhe Act'l. I report in respect of my oxaminÈtton ot the charitys financial statements carried out under se¢tlon 145 of the Ad and in carrwng out my examination I have followed all the applicable Directions given by the Charity Commission under seth'on 145151{bl of the Act. An independent examinab'on does not involve gathering all the evidence Ihal would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an atjdil goès beyond the Ilmited assL¢rance that an indep8ndant examinabon can provide. Consequently l express no opinKJn as lo whether the finan¢k41 stslements present a 'lrue and fairf view and my report is limited to those speetfic mattars sat out in tha independent examinerfs statement Ind&pandont oxamln8rfs statement I have completed my examinatK)n. I confim) that no material matters have come to my attention in wnnection with the examination which gives m8 e8usè to lIeVe that in. any material respecL th8 a¢¢ounting rec(S were not kept in accordance with seclion 130 of the Charibes Act; or Ihe accounts did not accord with the accounting r8cords' or the accounts di¢J rM)t coMY with the applicable requirements concemlng th& form and content of accwnts set out in thè Chartbès IAccounts and Reports) Regulations 2008 other than any QuIreMent that the a¢¢ounts give a trEJO and 18ir' view which is not a matter considered as part of an indep8nd8nt examination. I have no conL*ms and have Gome across no other matters in conneGlion with the examination to which attention should be drawn in this report in order lo enable 8 propar und8rslandirvJ of the accounts to be reached. Kathloon P47o$$ ACMA CGMA Kathleen Moss Llrnit 48 Lawll TerraGe London SE3 9LP Dated.. 2710112022 10
Friends of Cricklewood Library Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2021 Total Funds Unrgstrlctsd Restrlcted 2021 Funds Funds Total Funds 2020 Unr&slrl¢tgd Restrlcted Funds Funds Incom8 Donations and legacles Interest recelved Charitable 8¢tivitie$ Notas 4.047 264 4,311 4,600 6,015 10,615 1.303 45.025 46.328 91 44.596 44.68T Totsl Income 5.350 45.289 50,639 4.691 50.611 55.302 Expenditure: Raising funds Charitable activities 87 679 87 6,317 697 3,053 697 4.940 5,638 1.887 Total expenditure 766 6,404 3.750 1.887 4637 Net income and net movement in funds for tho year 4.S84 39,65t 44,235 941 48, T24 49,665 Re¢on¢lllatlon of funds Total funds brought forward Transfer Len fvnd8 12.911 316.3(X) 329.211 61395 50.425 217. 151 50,425 279,546 Totsl funds carried forward £ 17.495 £ 355,951 £ 373.446 12.911 £ 316,300 £ 329.211 The statement of fin8n¢i$l 8ctiviti8s includes all gains and lossès racognised in the year. All income and expendtture d8rives from continuing activitl8S. The notes on pages 13-21 form part of these accounts. 11
Friends of Cricklewood Library Balance Sheet As at 31 March 2021 2021 2020 Flxed assets Tangible Assets 355,951 316.300 Current assets Cash at bank and In hand 20,942 14,211 21,489 14,211 Liabilities- Cr8dilors'. Amount falling due within one year 10 { 3,9941 1,300) Net currant assats l {Ilabilitiesl 17.495 12.911 Net assets 11 373.446 329,211 Thg funds of the charlty- Restricted income funds Unrestricted income funds General reserve 12 355,951 316,300 17,495 12.911 Total charity funds 373.446 329.211 The notes on pages 13-21 fom part of these accounts. •...j.wM.. 2ozL Th& a¢UnIS were approved by the Trustees on .... nd signed on thèir bèhalf by.. Prini r.-.Tr-I Trustee Charty Registratlon No.: 1168381 CharStable Incorporated Organlsatlon 12
Friends of Cricklewood Library Notes to the financial ststements for the year ended 31 March 2021. ststuiory Inforrnatk)n Friends ol Cmcklthvcxxl Llbrary Is a charftable Incorrated organosatlon. d)arlty number 1168381. The chariS registered Offi address aThJ prine pl of tsJsuss is Chronide Heights, 152 Olive Road, London, NW2 6UY. The funebonal eurroncy is StIng. A¢¢ountlng poll¢l•s The principal accounting pleS are summaris&J below. The aco)untirg lICleS have been applled consislenuy throughout the year arKI in the preceding year. 2.1 8a¥ls of preparatlon Thé fin8neial statements have been pr9P8red in 8rd81)Ce wrth Aonting and Reporh'NJ by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in 8¢¢ordbnee wth the Financial Rewrting Standard applicable the UK and Republic of Ireland IFRS 1021, ICharilie$ SORP FRS 102). Assets and liabilities are inibally rec¥)gniwJ at histryical $t or tran8ath"¢)n value unl8s8 otherwise slated in the relevant accounting l1¢Y cf notè. The financ1 stslements have been prepored under the histu1¢1 (>Jst ¢))rw8ntion. 2.2 Publlc benefit entlty Friends of Cricklewcx)d Library meets the deffinith of a public ban8fft entity ur#J8r FRS 102. 2.3 GoSng concorn The trustees consider that thgre arg matgrial uncertainti8s ab)ut the charttable compan5 ablllly to continua as a goiThJ ncern. The Charitable company (Sn operate based on confirmed funding with sufficient reserves. Tho trustees do not conslder that th8Te are any SOUTce8 of e5tlm8tlon uncrtalnty at the repgrung dale that have a significant risk of causing a malorfal adlustrThnt to th8 carrylng amounts of assets an¢J 118blllfje$ within thè nèxt rèportirYJ pencd. Covld-19 - re8trictlons have severety hampgre(l our ablllty to open & operate th8 library ant1 thu8 hlre staff & voluntsers this year. As SLfch this has pul our financ8s in a nIouS FJsilksn as we need lo ensure njnning cos& such as ulililies still need to be paid for despite not being ab to OP8n the library. Trusleey considgr th81 current r8serves are sufficent to continue operating. the hope that oncé restr5dons are Ilfted the Ilbr8ry will be able to operate and raise i[Orne to cover runnlng oxts. 2A Incom• l incorning resources are induded in the Statement of Finarti81 ActItIeS when the tharitsbbe wmpany is legally entitled lo the incomè, it is probab the wll be received and the amunl can be ouantlfied with reasonable accuracy. Wher8 donations 8nd grants are reslricled to fuluro ac¢ouniing pori¢8. they are deferred and recognised in those future accounting perv)ds. Grants for immediate finan¢A81 suppcrt and a$$istanc8. or to raimburse costs previously InGurred. are Irrnnediately. IncorrE from charrt8ble 8cvities comprises irKome supporting the redevdopnwt of Cricklewood Library. 13
Friends of Cricklewood Library Notes to the flnancial statéménts for the year endad 31 March 2021: conlinued t)ortsed prolessional services and ¢)naled facilihes are rwnise(l as income when th8 charity has ntrol ov8r the item or receNed the semce. any conditi.ons assoaaled wth the donab'on have b88n mel, thè rèceipt of ecorK)mic belffit from tho uso by the charity of thè item is Pfobable 8nd that aconomic benefit can be measured reliably. In 8rdance vAth the Charitses SORP IFRS 1021, volunteer Ilme is not recognlsed so refer lo the Iruslees. annual report for mre inf0mtiOn abcrtjt their contribution. On receipt, donated 9ffts. professior1 seNcey and don818d facililles are reojgnised on the basis of the value of the grft to the chBrity which is the 8mount the ch8rty would have b88n willing to pay to obtain seNices or fadlilies of equivalerrt economic benefrt on the open market.. a corraspondln9 amount is then recognlsgd in expendttur6 In th& per of receipt. 2.5 Exp•ndltur• and Irrocol1b1a VAT Expenditure is recognised on¢x there is a legal or ccffl5trudNo obligalion to make a payment to a third paty, 11 is prOb8b thot setUem8nl wll b6 required and thg amount ol Ihe obligation can be measured r81iably. Expendllur8 Is accounted for on an accwals basis wilh the Irrecver8b1e element of VAT included th the item to which it relates and has been cl8ssifièd under h88dings th81 aggregate all costs related to the category. Expendllure 5$ dgssified undar lh8 fOlknn9 acbwty ding3.. Costs of raising funds relate lo the costs incJJTred by the carlty in Induc4ng thlrd partl8s to m8k8 voluntsry contributions to it, as w811 as the cost of any a¢bbe$ a fundrdising purF¥)se Expenditure on charitable a1Vte$ Includes the costs of delivering S8ceS arKI other actlvllies undertaken to further the purposes of the ehanty and their asswated suppcwt costs other 9xpenditure represents items not falllng into any other heading 2.0 Allocatlon ol ¥upp¢rt govornaTr eosts Support and govemance costs ar8 8lk)cabJ to unr8strid8d fuThts. Govem8ncg costs 8r8 the costs associal&J with thè govomanc arr8ng8m8nts of the charity. These costs are assoclatsd wllh ¢)Jnslitullonal and stalLrtory requlrwrthts and Indudg any costs assoclaled wlth the strategic m8nag8m8nl of the charivs ath'wties. 2.7 Tanglblè flx•d 8ss•ts and d•pr•clallon The chaftiable company oper8t8S 8 policy of Capitaling fixod as681 itoms over £1.000. Tangl8 xed assèts aro 8tsted 8t cost less depredalkjn. Depreciation provide(l al ralgs c8lcul8tsd to write off the cost18ss eSmated residu81 value of asset over rts expected useful Ilfe once the Ch8rity hava tsken ownershlp of the bulldirwJ. 2.8 L•a$lng and hlr• purchase commltments Rentals applicable to operating lea5e$ whefe substsntialty 811 the benefits and risks of ownership rémain with thè lessor are thaTged on a straight line basis over the lease temi. 2.9 Cash at bank and In hand Cash 8t bank and in hand indudes cash and short t8rm hhlY IN4uid inve51ments. The trustee$ seek to use short temi depx)siis to rwlmisg the retum on rrKJnies hekj at the bank 8nd to manage cash IICMT. 110 Flnanclal Instruments The ch8rity onty has financial assets and finanrial liabililies of a kind that qualify as basic financial Instruments. Baslc financlal Instruments are Inlllally rwnised at tsansaGlion value and subsequently ma8sured at their setUerrErrt value with the exception of bank k)ans which are subsequently measured al amortised cost using the effectNe inlwest r1. 14
Friends of Cricklewood Library Notes to the financial statements for the year ended 31 March 2021: conllnued 2.11 Debtors Trade and other debtors are re(gnISed at the sethement 8mcMJnt due after any trade dSscount offered. Prepayments are valued at Ihe amount prepaMI net of any trade discUnts due. 2.12 Credltors and provlslons Creditors and proS1OnS arè r8¢ognisad whtr tho tharity ha$ a prasènt obligation rasultlng from a past event that wlll probably result In the transfer of fund5 to a thlrd party and the amount dug to setuè the obligation can be measured or esbmatgj rgliably. CreditcKs aThJ provisions are normally recognised al their setUem8nt amount after allowlng for any trade ¢Jls¢ounts due. 2.13 Fund •ceountln9 Unr88trict8d fund8 Bre to bg uwj in accordance vthh tha charrtable Objectiv at th• dls¢xeJon of Ihe Trustees. Restricted funds are to t used for partlar restricted purposes wthin the objects'ves of the ch8rfty. Restrictions arise wh8n Specifi by tho donc or whon fvnds are r8i$ad for paibujlar restricted purposes. Designatsd funds are unrestricknd funds ernrkod by the trustees fly partilar purposes. 2.14 PonBlon$ Th6 charlty do88 currenlly empk)y any $laff and so dogs not OF18 a p8nsl¢)n schem8. 15
Friends of Cricklewood Library Notes to the flnanclal statements for the year ended 31 March 2021: contlnued Totsl 2021 3 Donatlons and l•gaci• General donations 4.047 4.311 4,047 264 4,311 Donatlons and logacles- prlorye•r ¢omp•rntlve 2020 General donations 6,015 10.615 6.015 10.615 Incom• from charitabl• •ctlvltl•• Charltable •ctlvltl•• 2021 London Borough of Brent Bernard Sunley 40,025 40,025 Oth•r tradlng actlvltl Fundraisin9 events 1,303 45.025 46.328 Income from chrltsbl• acdvllles- orNear¢OMParallv9 Charlt•blo a¢tlvld 2020 Lonclon 8orough of Brent School for Social Enlrepren8u Oct8Vi8 Houslng 2.596 other tradlng aetlvltl•s Fundraising events 91 91 91 44.596 44.687 16
Friends of Cricklewood Library Not&s to th• financlal statèmènts forth• yw èndèd 31 March 2021: contlnu8d C051 of rdiSiThJ funds Charitable activities Govemanc8 Support costs costs Total 2021 5 Analys1$ of pendItUrn Fundraising 8vents Public avants Subscriptions Insuran Bookeeper utilities General Administration C•)Sts Legal 75 75 175 215 390 24 1,080 3,945 other costs Independent Examinatson 650 650 75 239 (2391 0,404 Support costs 211 2S Govamance Costs 16751 Total •xp•ndltur• 2021 6.317 ot thg totsl oxp8ndltur8.' Unw••trl¢t•d 2021 £766 2020 £3.750 Total 0,404 5.637 £ 5,638 £ £ 1.887 £ Analysls of oxpendlture- prforyeorcomparodvo 2020 Fundr81slng events Publi¢ events Subscrtpllons Insur8nce 8ook8eper Genernl Administr8tlon Gosts Legal Tr81ning Indwndgnt Examination 546 250 250 165 165 570 2,512 600 570 2.512 650 850 546 61 3.871 650 73 570 (570) 4637 Support costs Govem8nGe $ts (723) Totsl expenditure 2020 697 5.637
Friends of Cricklewood Library Notes to the financlal statements for the year ended 31 Mar¢h 2021: contlnugd 6 Net Incomo ft*r thg year The net incom8 for tho year is stated after charying.. 2021 2020 Indepgndont Examlnatlon 650 650 7 Stsff Gosts No stsff were employgd by the thaiity in the year and no 8tsff were employed In 2021 (2020.. nil) 8 Tanglble flx•d assets A••01 und•r constructlofi Tot•1 Cost: Al 1 April 2020 Ad¢Jlllons al cost 316,3(N) 39,651 316,300 39.651 At 31 March 2021 355,951 355,951 N•t book valu•: At 31 March 2021 355,951 355,951 At 31 March 2020 316,300 316,300 Bulldlng works hove b88n comploled after the year d. with full F#)58ssion boing handed lo FOCL In August 2020, however due to ts conUnuir¥J natswal Covod 19 tB8Fon8e, thg Ilbrary dbd not open until afer March 2021. 18
Friends of Cricklewood Library Notes to the financial statements for the year ended 31 Mar¢h 2021: continued Dèbtors Du• within one year: 2021 2020 Trade debtors Prepayments 22 525 547 10 Crndltors Amounts falling due within ono year.. 2021 2020 Trade creditors Accnjals 650 650 650 3,994 1,300 11 Anal8 of net assets between funds Unrestrlcted Fund$ Restrfcted Funds Total Funds Fund Balancès at 31 March 2021 are represented by.. Tangible Fixed Assets Current Assets Creditors= Amcmjnts falling due within one year 99,249 (77,6601 13,9941 256,802 99,149 355,951 21,489 {3,9941 Total net assets 17.495 355.951 373,446 Analysls of net assets bgtwoen funds- prknyear Gomparattvo Totsl Funds Fund Balancos at 31 March 2020 arg r9presgntgd by." Tangiblg Fixed Assets CuffentAssets CreditofrB.' Amounts falling due within one year 99,149 (133,476) (1,300) 217, 151 147,687 316,300 14,211 (1.300) Total not assets (35,627) 364,838 329,211 19
Frlends of Cricklewood Library Notes to the financial stst•ments lor the year ended 31 March 2021: continued 12 Funds The income funds of the charity include restricted and unrestricted fvnds comprising the followiro unexpend8d balan of donations and gran15 held on trust.. Incomlng Outgoln9 Transfers betW08n funds 01-Apr 2020 3144lar 2021 Restricted Funds Cricklewood Library refurblst)menl 316,300 45.289 15.6381 355,951 Total Restrl¢ted Funds 316.300 45,289 (5.6381 355.951 Unrestricted funds: General funds 12,911 5.350 1766) 17,495 Total funds 329.211 50,639 {6.4041 373.446 Restricted Funds CricklewoDd Library refurbishment The restricted funds received are to enable a full refurbishment of the Community Library f8¢ility. The main works relating to the refurbishment are in the financial year, with costs incurr1 to date being held in fixed assets work in progress until the works are finished and the t*Jiiding is officially opened later in the year of 2021. Grants awarded by London Borough of Brent have been of signfficanl support to the refurbishrnent. Fund$ . prlor year ¢omparat The In¢om8 funds of tha charity include restncled and unrgstncted fund$ comprising the following unexpended balanGes of donations and grants held on Irusl.. At 01-Apr 2019 In¢omlng Outgolng Transfers At 31-Mar 2020 funds Restricted Funds Cri¢klèwood Library rafurbishment 217,151 50,611 11,8871 50,425 316.300 Total Re$trl¢tsd Funds 217,151 50.611 11.8871 SO.425 316,300 Unrestrfct•d funds.. G•noral funds 62.395 4691 13,750) {50.4251 12,911 Total funds 279.546 55,302 15,6371 329,211 20
Frfends of Cricklewood Library Notes to the financial Statements for thè year ended 31 March 2021: continued 12 Related partles There are no related party tran&tiOnS to disdose for 2021 12020.. nonel There are no donations from relatsd parbes whiL are oulsmle the rnYm81 (x)urse of business and no restricted donations from related partles. 13 Trusttss None of the bustees (or any person I)nnect3 valh them) received any remunerations fr(xn the charity during the year. No Mbur5ennIS were maje to Irustees in 2021 {2020'. nil) for travelling and other expens9$ and no payryEnts We de direct to third rties. Reimbursements lo trustees for expenditure relating to chartÈable activfty 8re not included. 14 Operatlng lease commitments There are no commitments under ranlIae operating leases at March 2021 {2020..Nill. 15 Contingent assets or liabilities There are no contingent assets or lialylili&8 at Marth 2021 (2020:Nill. 16 Prof•ssional indemnity in¥uwance The chartty has insurance to proteci il from loss arising from ts neglect or default of its trustees and agents and to indemnfy the INstees or other officers against thè consequ¢nces of any ngglgct or default on their parL The insurance premium paid by the charity during the year totall¥J £215 (2020.. £165). 17 Liability of Momr$ Fri8nds of Cricklew(XMJ Ltbrary is 3 Charttable In(x)rporated Oryjanisation. In th9 ev8nt of ¢h9 charity being woun(l up, the liabillty of the merrthrs is lifflited to £10 tsa(. 21