Marsden Community Trust Limited
Charity number 1168910
A company limited by guarantee number 09392970
Annual Report and Financial Statements
for the year ended 31 March 2021
Marsden Community Trust Limited
Annual Report and Financial Statements for the year ended 31 March 2021
| Contents | Page |
|---|---|
| Trustees' report | 2 to 5 |
| Examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the accounts | 9 to 14 |
Prepared by West Yorkshire Community Accounting Service
1
Marsden Community Trust Limited
Trustees' report for the year ended 31 March 2021
Reference and administrative details of the charity, its trustees and advisors
The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates
Mark Crowe Thomas Lonsdale Chair Fiona Russell Sharon Turner Diane Barkley Martin Collett Jane Hurn Treasurer Sheila Bates Gordon Bruce Mark Drury Veronica Gabanski Lisa Wrigley Jayne Haley James Ewing Natalie Parish Katherine Shackleton
Resigned 26 January 2021 Resigned 26 January 2021
Resigned 26 January 2021 Resigned 19 May 2020 Appointed 26 January 2021 Appointed 26 January 2021 Appointed 26 January 2021 Appointed 26 January 2021 Appointed 17 November 2020
Charity number 1168910 Company number 09392970 Registered and principal address Bankers Marsden Mechanics Hall The Co-operative Bank Peel Street P O Box 250 Marsden Skelmersdale Huddersfield England HD7 6BW WN8 6WT
Registered in England and Wales Registered in England and Wales
Independent examiner
E J Beverley FCCA West Yorkshire Community Accounting Service
Stringer House 34 Lupton Street Leeds LS10 2QW
Structure, governance and management
The charity is a company limited by guarantee and was formed on 16 January 2015. It is governed by a memorandum and articles of association as amended by special resolution on 21 July 2016. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £1.
Method of recruitment and appointment of trustees
The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.
2
Marsden Community Trust Limited
Trustees' report (continued) for the year ended 31 March 2021
Objectives and activities
The charity's objects
To advance heritage generally and/or preserve, for the benefit of the general public, the historical, architectural and constructional heritage existing in and around Marsden in buildings (including any structure or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest;
To advance the arts, culture, education, health and well-being by (but not restricted to) the provision of facilities in which these activities can take place for the benefit of the public in Marsden and/or those who, by reason of their youth, age, infirmity or disability, financial hardship or social and economic circumstances, have need of such facilities.
To provide or assist in the provision of recreational facilities for the public at large.
To advance environmental protection and improvement in Marsden through the provision, maintenance and/or improvement of public open space and other public amenities and other environmental and regeneration projects (but subject to appropriate safeguards to ensure that the public benefits so arising clearly outweigh any private benefit thereby conferred on private landowners)
To further such other exclusively charitable purposes according to the law of England and Wales as the Directors in their absolute discretion from time to time determine.
The charity's main activities
Marsden Community Trust exists to take on assets and run them for the benefit of Marsden, West Yorkshire, and the surrounding areas.
Public benefit statement
In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular the advancement of education and the advancement of arts and heritage.
Achievements and performance
The Mechanics building remains the Trust’s sole income generator apart from grants and donations. That income is reliant on the spaces inside the building being hired out but the Coronavirus pandemic has brought with it restrictions that have forced closure and loss of virtually all hire income. We have been grateful in those circumstances for our tenants, Mikron Theatre Company and Marsden Jazz Festival, continuing to pay rent voluntarily but those sums are small compared to the shortfall elsewhere.
The remarkable escape act from this predicament has been the result of government support through the furlough scheme, business rate holiday and an astonishing success rate by Trustees making grant applications. These applications are demanding and time-consuming so the voluntary effort to secure success has been enormous. The grants have not only made good much of the lost revenue but also paid for refurbishment of the lift and numerous other minor repairs and improvements, especially devoted to making the building safe and pleasant to use as the restrictions gradually ease.
Mikron Theatre Company have also invested huge energy in redecorating large parts of the interior. They have also provided the management for Marsden Help food bank distribution from collection and storage in the Mechanics, which has been just one of the marvellous actions by Marsden people in the face of Covid-19.
Discussions have been continuing with Kirklees officers and Councillors about the wider issues affecting Marsden as a place to live, work and visit. Funding is yet to materialise for significant improvements or regeneration but there are early signs that the Trust’s voice is being heard on behalf of the Marsden Community on matters such as the Station upgrade, Goods Yard development and public realm improvements in the village centre.
3
Marsden Community Trust Limited
Trustees' report (continued) for the year ended 31 March 2021
Objectives and activities
Financial review
The net income for the year was £14,050, including net income of £15,761 on unrestricted funds and net expenditure of £1,711 on restricted funds after transfers.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £36,867.
The charity aims to build reserves to cover 6 months operating expenditure.
They also aim to set aside a monthly amount for a building maintenance fund to cover planned and unexpected maintenance needs. To this end a designated fund has been created this year to hold funds donated for building works, the balance on this was £184 at the year end which is included in the free reserves above.
Going Concern
At the time of signing these accounts the charity has been impacted by the global Covid-19 virus. The trustees have reassessed the charity’s ability to continue for at least 12 months from the date that the accounts are approved and conclude that no material uncertainties exist that cast significant doubt on the charity’s ability to continue as a going concern.
4
Marsden Community Trust Limited
Trustees' report (continued) for the year ended 31 March 2021
Statement of trustees' responsibilities
The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.
Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. They 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.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.
Signed on behalf of the board of trustees on 16/11/2021
Jane S Hurn (Trustee)
5
Marsden Community Trust Limited
Independent examiner's report to the trustees of Marsden Community Trust Limited
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2021, which are set out on pages 7 to 14.
Responsibilities and basis of report
As the charity's trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 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:
-
1 accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2 the accounts do not accord with those records; or
-
3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
E J Beverley FCCA
08/12/2021
West Yorkshire Community Accounting Service
Stringer House 34 Lupton Street Leeds LS10 2QW
6
Marsden Community Trust Limited
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 March 2021
| Notes 2021 Unrestricted funds £ Income from: Grants and donations (2) 23,936 Room and hall hire 4,474 Library hire 135 Rental income 4,417 Services 1,407 Event income 75 Other income 606 Fundraising 1,950 Insurance claim - Total income 37,000 Expenditure on: Salaries and NI (3) 1,820 Pension 323 Payroll and pension costs 242 Rates 455 Insurance 1,330 Heat and light 2,300 Cleaning and waste 468 Repairs and maintenance 9,084 Stationery and office supplies 327 Advertising - Training - Telephone and internet 570 Membership 447 Events and tickets - Fundraising - Licences 1,376 Independent examination costs 60 Legal and professional fees 54 Bank charges 2 Depreciation 4,914 Cash theft - Volunteer expenses - Website cost - Total expenditure 23,772 Net income / (expenditure) 13,228 Transfers between funds 2,533 Net movement in funds 15,761 Fund balances brought forward 202,201 Fund balances carried forward (4) 217,962 |
2021 Restricted funds £ 91,664 - - - - - - - - 91,664 15,963 568 323 126 1,109 4,780 1,493 54,086 179 7,001 2,015 1,094 105 - - 40 660 - - - - - 1,300 90,842 822 (2,533) (1,711) 9,187 7,476 |
2021 Total funds £ 115,600 4,474 135 4,417 1,407 75 606 1,950 - 128,664 17,783 891 565 581 2,439 7,080 1,961 63,170 506 7,001 2,015 1,664 552 - - 1,416 720 54 2 4,914 - - 1,300 114,614 14,050 - 14,050 211,388 225,438 |
2020 Total funds £ 25,391 21,080 1,709 4,377 2,185 24,022 664 2,215 204 81,847 18,139 886 264 2,492 2,441 9,289 1,426 16,569 196 885 - 1,248 370 17,407 128 1,324 660 48 314 4,453 329 51 - 78,919 2,928 - 2,928 208,460 211,388 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
7
Marsden Community Trust Limited
Balance sheet
| as at 31 March 2021 2021 Unrestricted £ Fixed assets Tangible assets (5) 181,095 Total fixed assets 181,095 Current assets Debtors and prepayments (6) 3,652 Cash at bank and in hand (7) 37,474 Total current assets 41,126 Current liabilities: amounts falling due within one year Creditors and accruals (8) 4,259 Total current liabilities 4,259 Net current assets / (liabilities) 36,867 Net assets 217,962 Funds Unrestricted funds 217,778 Restricted funds - Designated funds 184 Total funds 217,962 |
2021 Restricted £ - - 1,214 6,262 7,476 - - 7,476 7,476 - 7,476 - 7,476 |
2021 Total £ 181,095 181,095 4,866 43,736 48,602 4,259 4,259 44,343 225,438 217,778 7,476 184 225,438 |
2020 Total £ 184,167 184,167 8,271 25,029 33,300 6,079 6,079 27,221 211,388 198,758 9,187 3,443 211,388 |
|---|---|---|---|
For the year ending 31 March 2021 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).
The financial statements were approved by the board of trustees on 16/11/2021
Jane S Hurn (Trustee)
8
Marsden Community Trust Limited
Notes to the accounts
for the year ended 31 March 2021
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Tangible fixed assets
Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Freehold land and buildings: over 50 years Fixtures and Fittings: over 5 years Equipment: over 4 years
Pensions
The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.
9
Marsden Community Trust Limited
Notes to the accounts
for the year ended 31 March 2021
1 Accounting policies continued Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
| 2 Grants and donations 2021 Unrestricted funds £ Cuckoos Nest - One Community - Friends of Marsden Library donation - Marsden Community Trust Trading - Ward Councillor funding - Ward Councillor funding (2) - Keyfund - Kirklees Council 21,431 West Yorkshire Combined Authority - Power to Change - The National Lottery - HMRC Job Retention Scheme (JRS) - Projects fund donations - Donations 2,505 23,936 3 Staff costs and numbers Gross salaries Social security costs Employment allowance |
2021 Restricted funds £ - 3,750 - - - - 37,000 889 2,500 18,500 21,971 7,054 - - 91,664 |
2021 Total funds £ - 3,750 - - - - 37,000 22,320 2,500 18,500 21,971 7,054 - 2,505 115,600 2021 £ 17,783 111 (111) 17,783 |
2020 Total funds £ 2,879 2,690 2,500 5,276 910 3,984 - - - - - - 6,140 1,012 25,391 2020 £ 18,139 228 (228) 18,139 |
|---|---|---|---|
The average number employees during the year was 2, being an average of 0.9 full time equivalent
| Defined contribution pension scheme | 2021 | 2020 |
|---|---|---|
| £ | £ | |
| Costs of the scheme to the charity for the year | 891 | 885 |
| Amount of any contributions outstanding at the year end | 3 | - |
| Amount of any contributions prepaid at the year end | - | - |
10
Marsden Community Trust Limited
Notes to the accounts continued
for the year ended 31 March 2021
| 4 Restricted funds One Community One Community (2) Cuckoos Nest Ward Councillor funding Ward councillor funding (2) One Community (3) One Community (4) West Yorks Combined Authority Keyfund The National Lottery Power to Change HMRC JRS Ward councillor funding (3) |
Balance b/f £ 490 2,774 1,740 199 3,984 - - - - - - - - 9,187 |
Incoming £ - - - - - 750 3,000 2,500 37,000 21,971 18,500 7,054 889 91,664 |
Outgoing £ - 2,347 1,000 - 2,778 - - 2,500 37,000 19,657 18,500 7,054 6 90,842 |
Transfers £ - - (670) - - - - - - (1,100) - - (763) (2,533) |
Balance c/f £ 490 427 70 199 1,206 750 3,000 - - 1,214 - - 120 7,476 |
|---|---|---|---|---|---|
Fund name
Purpose of restriction
One Community One Community (2) Cuckoos Nest
To set up advice sessions. The transfer relates to room hire costs. For small meeting room and building work.
£1,000 towards heating repair, £1,000 towards glazing in the small room, £670 towards the toilet refurbishment and £209 towards a fridge.
The transfer relates to the toilet refurbishment that was done last year but taken out of unrestricted reserves in error.
Ward Councillor funding Ward councillor funding (2)
One Community (3) One Community (4) West Yorks Combined Authority
Keyfund The National Lottery
Towards Ping sessions.
Towards repair work to conservatory and fire doors, purchase and replace display boards, paint for meeting rooms and reception area, + 2 days professional time for finishing prep work and top coat of painting. Towards lighting conversion to LED hallway, toilets & meeting room. Towards a Tea Dance, a Memory Cafe and a Baby & toddler group.
For marketing work to help counter the effects of the pandemic on the business.
For refurbishment of the lift.
Coronavirus Community Support Fund to promote recovery and resilience, and to cover the costs of staffing, utility, training, extra cleaning equipment and marketing during the grant period.
The transfer relates to the purchase of a buffing machine that has been capitalised.
Power to Change
HMRC JRS
Ward councillor funding (3)
To provide urgent and vital support to such community businesses during these turbulent times.
Furlough scheme payments.
Towards new PC and software. The funder has given permission for the balance to be used to buy an office chair which was purchased shortly after the year end.
The transfer relates to the puchase of a new laptop and software that has been capitalised.
11
Marsden Community Trust Limited
Notes to the accounts continued
for the year ended 31 March 2021
| 5 6 7 8 **9 ** |
Tangible assets Cost At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 Debtors and prepayments Debtors Prepayments Cash at bank and in hand Cash at bank Cash in hand Creditors and accruals Creditors Accruals Deferred income Designated funds Projects fund Fund name Projects fund |
Total £ £ £ - 196,892 2,580 199,472 1,842 - - 1,842 1,842 196,892 2,580 201,314 - 14,201 1,104 15,305 461 3,937 516 4,914 461 18,138 1,620 20,219 1,381 178,754 960 181,095 - 182,691 1,476 184,167 2021 2020 £ £ 2,532 5,617 2,334 2,654 4,866 8,271 2021 2020 £ £ 43,461 24,815 275 214 43,736 25,029 2021 2020 £ £ 2,634 1,025 1,625 1,898 - 3,156 4,259 6,079 Balance b/f Incoming Outgoing Transfers Balance c/f £ £ £ £ 3,443 2,000 5,259 - 184 3,443 2,000 5,259 - 184 Purpose of designation Funds raised towards building repairs and maintenance and ring-fenced for that purpose. Fixtures and Fittings Property Equipment |
|---|---|---|
12
Notes to the accounts continued
Marsden Community Trust Limited
for the year ended 31 March 2021
9 Related party transactions
Trustee expenses
No trustee received any expenses during this year or the previous year.
Trustee remuneration and benefits
No trustee received any remuneration or benefit during this or the previous year.
| 2021 £ Name of trustee Legal authority Fiona Russell - cleaning cover for caretaker holiday Governing document - Fiona Russell - providing Ping sessions Governing document - - No trustee received any other remuneration or benefit during this or the previous year. Other transactions with trustees or related parties 2021 £ - 300 300 Marsden Community Trust Trading Subsidiary trading company Loan to trading subsidiary by charity Name of trustee or related party Relationship to charity Description of transaction Marsden Community Trust Trading Subsidiary trading company Donation received from trading subsidiary by charity |
2020 £ 255 558 813 2020 £ 5,276 - 5,276 |
|---|---|
13
Marsden Community Trust Limited
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2021
| 2021 2020 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 23,936 14,928 Room and hall hire 4,474 21,080 Library hire 135 1,709 Rental income 4,417 4,377 Services 1,407 2,185 Event income 75 24,022 Other income 606 664 Fundraising 1,950 2,215 Insurance claim - 204 Total income 37,000 71,384 Expenditure Salaries and NI 1,820 18,139 Pension 323 886 Payroll and pension costs 242 264 Rates 455 2,492 Insurance 1,330 2,441 Heat and light 2,300 9,289 Cleaning and waste 468 1,426 Repairs and maintenance 9,084 15,360 Stationery and office supplies 327 166 Advertising - 885 Training - - Telephone and internet 570 1,248 Membership 447 370 Events and tickets - 16,726 Fundraising - 128 Licences 1,376 1,324 Independent examination costs 60 660 Legal and professional fees 54 48 Bank charges 2 314 Depreciation 4,914 4,453 Cash theft - 329 Volunteer expenses - 51 Website cost - - Total expenditure 23,772 76,999 Net income / (expenditure) 13,228 (5,615) Transfers between funds 2,533 - Net movement in funds 15,761 (5,615) Fund balances brought forward 202,201 207,816 Fund balances carried forward 217,962 202,201 |
2021 Restricted funds £ 91,664 - - - - - - - - 91,664 15,963 568 323 126 1,109 4,780 1,493 54,086 179 7,001 2,015 1,094 105 - - 40 660 - - - - - 1,300 90,842 822 (2,533) (1,711) 9,187 7,476 |
2020 Restricted funds £ 10,463 - - - - - - - - 10,463 - - - - - - - 1,209 30 - - - - 681 - - - - - - - - - 1,920 8,543 - 8,543 644 9,187 |
2021 Total funds £ 115,600 4,474 135 4,417 1,407 75 606 1,950 - 128,664 17,783 891 565 581 2,439 7,080 1,961 63,170 506 7,001 2,015 1,664 552 - - 1,416 720 54 2 4,914 - - 1,300 114,614 14,050 - 14,050 211,388 225,438 |
2020 Total funds £ 25,391 21,080 1,709 4,377 2,185 24,022 664 2,215 204 81,847 18,139 886 264 2,492 2,441 9,289 1,426 16,569 196 885 - 1,248 370 17,407 128 1,324 660 48 314 4,453 329 51 - 78,919 2,928 - 2,928 208,460 211,388 |
|---|---|---|---|---|
14