2022-12-31-accounts

BOOTLE TOOL SHED

Charitable Incorporated Organisation (Foundation)

Charity Registered Number – 1170924 Established 29[th] December 2016.

Unaudited Annual Report and Accounts & Financial Statements.

INDEX

Para 1 Administrative Details. 2 Organisation’s Objectives and Activities. 3 Trustees’ Annual Report. 4 Financial Assessment of Viability. 5 Risk Management. 6 Statement of Financial Activities. 7 Statement of Financial Position. 8 General Information. 9 Accounting Policies. 10 Independent Examiner’s Report.

1. Administrative Details.

The name of the charity is The Registered Office is The charity Trustees are

Bootle Tool Shed. 26, Grasmere Drive, Liverpool L21 5JJ.

Name

Eddy Flynn Mandy Lewtas Wendy Flynn Paul Maher

The Trustees operate under the requirements of the Charities Acts (2011 & 2022), the Charitable Incorporated Organisations (General) Regulations 2012 and the Charities (Accounts & Reports) Regulations, 2008. They are collectively responsible for the activities and conduct of the charity.

2

Organisation’s Objectives and Activities.

To promote social inclusion for the public benefit of people over the age of 18, living in the Borough of Sefton and surrounding areas, in particular, but not exclusively, older men by preventing them from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society by the provision of a premises in which such people can meet jointly or individually, undertake and share creative, physical, social and recreational activities of their choice and learn or pass on skills and knowledge.

The charity occupies two units contained within the New Strand Shopping Centre.

One is devoted to the sale of renovated cycles and repair of bicycles. (Units 26 & 27, approx 190 Sq M.)

The other a workshop for use by attendees. A variety of woodworking and other equipment is available for use. (Unit 28, approx 310 Sq M.)

Opening times for both are weekdays, 10:00 until 15:00.

3

Trustees’ Annual Report

In accordance with Part 5, Section 40, of The Charities (Accounts and Reports) Regulations, 2008, the Trustees present their Report and Accounts for the twelve months ended 31[st] December 2022.

Achievements and Performance.

A. Cycle Shop. Opened 7[th] January 2022.

Features are sales of refurbished, donated cycles and repairs to cycles brought in by members of the public.

The shop is run by a qualified bicycle mechanic who inspects and certificates all work.

The shop has 10 volunteers/members who attend during the week. Collectively, the total of individual hours of attendance in a customary week is approx 150. Most are seeking their Level One certification in cycle maintenance. These activities provide funds to support other pursuits and the charity’s costs. During the year -

100 cycles were donated to the charity, repaired and sold to members of the public. Between 25 and 30 cycle repairs are carried out each week.

B.

General Workshop.

During the year the workshop completed a number of projects for local authorities and other community groups by providing various outdoor furniture and garden items.

These labours provide funds to support other activities and the charity’s costs. The charity has between 3 and 4 people assisting with these activities each week.

C.

Activities and Volunteer Achievements.

These represent the ‘social inclusion for public benefit’ element of the charity.

None of the work produces an income for the charity and travelling costs are also paid to many. However, all participants receive the benefit of improving their situation and well-being. Several volunteers/members attend at various times during the week.

New equipment was purchased during the year to add to the charity’s potential to achieve sales and provide new opportunities to participants.

25[th] July Yeti CNC Machine 17[th] November Cold-Forming Metal Equipment 13[th] December Lathe

4 Financial Assessment of viability as a ‘Going Concern’.

Cashflow test.

During 2022, the month-end bank balance fluctuated between £1,575 and £6,644. Cashflow was positive in 5 months, negative in 5 and ‘flat’ in 2.

Very uneven picture. Difficult to draw conclusions.

Balance sheet test.

Satisfactory. Being merely a ‘snapshot’, this is of much less significance.

5 Risk Management.

(But not ‘Financial Viability’, which is covered separately above.)

(Policies we have that are mentioned on C C website are -

Complaints Handling Risk Management Volunteer Management)

The Trustees are responsible for oversight of the risks faced by the charity. The major H & S risks in the workshops can be identified as -

Adherence to H & S requirements. The competent use of machinery and other equipment.

Moving and Handling.

A review of the charity’s risk management processes is undertaken annually.

The Trustees’ Annual Report was approved on 14[th] August 2023 and signed on behalf of the Trustees by Eeddy Flynn.

6 Statement of Financial Activities.

6 Statement of Financial Actvites.
	2021	2022
INCOME
Trading Actvites	53,371	84,917
Grant	1,785	2,650
Total Income	55,156	87,567
EXPENDITURE
Cost of Trading Actvites	46,647	62,746
Motor Vehicle Costs	3,576	5,550
Overheads and Admin	4,729	8,485
Total Expenditure	54,952	76,781
Depreciaton	0	4,088
Surplus for year	204	6,698

7

7
Statement of Financial Positon.
FIXED ASSETS
Plant and Machinery		6,508
Motor Vehicle		1,666
Total Fixed Assets		8,174
CURRENT ASSETS
Bank Account	2,449	3,637
Pety Cash	195	30
Total Current Assets	2,644	3,667
CREDITORS	None	None
NET ASSETS	2,644	11,841

8

General Information and Notes to the Financial Statements.

a. General Information

The charity is registered in England and Wales. The address of the registered office is 26, Grasmere Drive, Liverpool L21 5JJ. The charity operates beneath the threshold for VAT registration.

b. Statement of Compliance.

These financial statements have been prepared in compliance with the 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 (Charities SORP FRS 102).

9 Accounting Policies.

Basis of preparation.

The financial statements are drawn up under the “Receipts and Payments” convention as defined by the Charity Commission and have been prepared under historical cost guidance.

Disclosure exemptions.

The charity satisfies the criteria of being a qualifying entity as defined in FRS 102. The entity is a small charity and as such, the exemption available under section 1 of FRS 102 with regard to presenting a Cash Flow Statement has been taken.

Judgements and key sources of estimation uncertainty.

The preparation of the financial statements requires management (the Trustees) to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting.

Unrestricted funds comprise accumulated surpluses and deficits on the general funds that are available for use at the discretion of the trustees in furtherance of the general objects of the charity and have not been designated for other purposes.

Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors.

Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Donations and legacy income is received by way of donations, gifts and grants and is included in full in the Statement of Financial Activities when receivable.

Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities where the value can be quantified. The value of services provided by volunteers has not been included.

Items donated for resale by the workshop are included as incoming resources within activities for generating funds when they are sold. (This includes equipment and machinery.) Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets.

Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Incoming resources from the sales by the charity and other trading income is included in the year in which it is receivable. Investment income is included in the year in which it is receivable.

Resources expended.

Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. All costs are allocated to the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource.

Tangible assets.

All fixed assets purchased by the charity are initially recorded at cost. The cost of minor equipment additions (<£500) are not capitalised.

Donated equipment is not treated as a tangible asset, merely being added to the charity’s Asset List at ‘zero’ value. The receipts from any such asset sold in the future are treated as earnings at the point of sale.

Depreciation.

Depreciation is calculated so as to write off the cost or valuation of an asset over a useful economic life of three years:

Equipment 33⅓ % straight line.

10

Independent Examiner’s Report.

I report to the trustees on my examination of the financial statements of Bootle Tool Shed ('the charity') for the year ended 31 March 2022.

Responsibilities and basis of report.

The trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under Part 8, Chapter 3, Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is appropriate (Section 145)

I have completed my examination.

I have followed the fifteen ‘Directions’ detailed in CC 32.

I confirm the requirements of Part 2, Section 8 of The Charities (Accounts and Reports) Regulations 2008 have been adhered to.

I have complied with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I consider the changeover to a computer-based accounting system has provided a more thorough perusal of the charity’s accounts than that required by an Independent Examination.

I confirm that no matters have come to my attention in connection with the examination giving me cause for concern nor to enable a proper understanding of the accounts to be reached.

1. Accounting records have been kept in respect of the charity as required by Part 8, Chapter 1, Sections 130 to 134 inclusive of the 2011 Act.

2. The financial statements accord with those records.

3.Reference to the requirement that the accounts give a 'true and fair' view is not a matter considered as part of an independent examination.

1. The financial statements have been prepared in accordance with the methods and principles laid down in -

(i)

The Charities (Accounts and Reports) Regulations 2008, Chapter 4, Section 31.

(ii)

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 been unable to quantify ‘stock’ held by the charity. This is predominantly cycle parts, paint and timber. This naturally affects the figures for the year, but does not inflate the surplus produced and I am therefore content to present the accounts as they are.

Alan Clare