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2020-12-31-accounts

Charity Registration No. 1170419

Company Registration No. CE009168 (England and Wales)

TOE TO TOE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

TOE TO TOE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr I Hodge Ms S Rush Mr G Robinson Ms L Evans Ms D A Williams (Appointed 27 January 2020) Charity number 1170419 Company number CE009168 Registered office North Road Holywell Clwyd United Kingdom CH8 7TQ Independent examiner Azets Brynford House 21 Brynford Street Holywell Clwyd United Kingdom CH8 7RD

TOE TO TOE

CONTENTS

Page
Trustees' report 1
Independent examiner's report 2
Statement of financial activities 3
Balance sheet 4
Notes to the financial statements 5 - 9

TOE TO TOE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report and financial statements for the year ended 31 December 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note s 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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 2019)".

Structure, 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 .

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr I Hodge Ms S Rush Mr G Robinson Ms L Evans Ms D A Williams (Appointed 27 January 2020)

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposes and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees' r eport was approved by the Board of Trustees.

Trustee Dated: 6 October 2021

TOE TO TOE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TOE TO TOE

I report to the trustees on my examination of the financial statements of Toe to Toe (the charity) for the year ended 31 December 2020.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable 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 matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Azets

Brynford House 21 Brynford Street Holywell Clwyd CH8 7RD United Kingdom

Dated: 6 October 2021

TOE TO TOE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted Unrestricted
funds funds
2020 2019
Notes
£		 £
Income and endowments from:
Donations and legacies 3 50,460 1,562
Charitable activities 4 17,514 44,520
Other income 5 - 1,875
Total income 67,974 47,957
Expenditure on:
Charitable activities 6 44,765 51,581
Net income/(expenditure) for the year/
Net movement in funds 23,209 (3,624)
Fund balances at 1 January 2020 (7,593)
(3,969)
Fund balances at 31 December 2020 15,616 (7,593)

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

TOE TO TOE

BALANCE SHEET

AS AT 31 DECEMBER 2020

Notes
Fixed assets
Tangible assets
9
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
10
Net current assets/(liabilities)
Total assets less current liabilities
Income funds
Unrestricted funds		 2020
£
8,959
(3,186)		 £
9,843
5,773
15,616
15,616
15,616		 2019
£
2,213
(9,806)		 £
-
(7,593)
(7,593)
(7,593)
(7,593)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2020.

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 6 October 2021

Trustee

Company Registration No. CE009168

TOE TO TOE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

Toe to Toe is a private company limited by guarantee incorporated in England and Wales. The registered office is North Road, Holywell, Clwyd, CH8 7TQ, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "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 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

TOE TO TOE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 25% on reducing balance Fixtures and fittings 20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.6 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. As all financial assets are classified within one year , they are not amortised but carried at face value.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value .

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and continue to be measured at face value .

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

TOE TO TOE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Grants 50,460 1,562

4 Charitable activities

Unrestricted Unrestricted
2020
2019
£
£
Gym takings 16,014
41,520
Room hire 1,500
3,000
17,514
44,520

5 Other income

Total Unrestricted
funds
2020 2019
£ £
Insurance payout - 1,875

TOE TO TOE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

6 Charitable activities

Unrestricted
Unrestricted
fund
fund
2020
2019
£
£
Staff costs 30,610
30,997
Gym equipment hire 4,437
4,437
Rates and water 1,156
4,380
Insurance -
576
Light and heat 3,013
8,422
Telephone 734
734
Repairs and renewals 3,042
600
Sundries 113
-
Accountancy 1,660
1,435
44,765
51,581
44,765
51,581

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

2020 2019
Number Number
2 2
Employment costs 2020 2019
£ £
Wages and salaries 30,150 30,557
Other pension costs 460 440
30,610 30,997

TOE TO TOE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

9 Tangible fixed assets

Plant and
equipment
Fixtures and
fittings
£
£
Cost
Additions
9,141
702
At 31 December 2020
9,141
702
Carrying amount
At 31 December 2020
9,141
702		 Total
£
9,843
9,843
9,843

10 Creditors: amounts falling due within one year

2020
Notes
£
Other taxation and social security
6,465
Government grants
11
-
Other creditors
(4,823)
Accruals and deferred income
1,544
3,186
Government grants
2020
£
Deferred government grants
-
-		 2019
£
4,194
3,493
236
1,883
9,806
2019
£
3,493
3,493

11 Government grants

12 Related party transactions

There were no disclosable related party transactions during the year (2019 - none).