Charity number: 1171279 THE DOCKLANDS TRAIL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
THE DOCKLANDS TRAIL
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 13 |
THE DOCKLANDS TRAIL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022
Trustees
Rev. Canon N. Black MBE, Trustee
W. Fung, Trustee
A. Wilson, Trustee
J. Birchall LLB, Trustee
D. Bradbury, Trustee
H. Dodgson BA, Trustee
L. Ellis, Trustee
R. Williams, Trustee
Charity registered number
1171279
Principal office
24 Timms Lane, Formby, Liverpool, L37 7DN
Page 1
THE DOCKLANDS TRAIL
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report together with the financial statements of the charity for the year 1 April 2021 to 31 March 2022.
Objectives and Activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit.
The charity has undertaken the principal objective of advancing the education of the public in the heritage and local history of the Liverpool Docks, in particular but not exclusively by establishing a docklands trail to preserve, promote and make accessible a collection of cultural objects and artefacts and audiovisual information relating to the docks.
b. Activities for achieving objectives
-
Widen and get commitment to charitable donations
-
Confirm the Docklands Trail objectives with potential donors
c. Main activities undertaken to further the charity's purposes for the public benefit
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•• Raising the profile of Bootle - ongoing
-
Raising the self-esteem of Bootle residents -ongoing with Friends of the Docklands Trail and Bootle
-
visitors
-
Increasing the number of tourism jobs - not yet achieved
-
Supporting schools in their teaching of local history - the first school group has visited and access to
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accredited people for tha care of visiting children has been obtained
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Agreeing location for Gladstone Dock site
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Raising funding for other Docklands Trail sites and specifically Gladstone Dock
-
Maintaining contacts with potential donors and including Sefton Borough Council
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First stage planning for access to Metro Mayor, Steve Rotheram – underway
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Developing and implementing Covid strategy for post-lockdown access to the Docklands Trail
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Increasing Docklands Trail resources to support Docklands Trail visitors include school children, by
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collaboration with the Canal & River Trust who have confirmed their provision of accredited staff for children visiting
-
The opening of the Collingwood Dock site took place in 2019 before lockdown. Site officially opened by Liverpool mayor and Bootle MP
Page 2
THE DOCKLANDS TRAIL
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2022
Achievements and performance
a. Review of activities
The results for the year and the financial position are set out in the Statement of Financial Activities on page 4 and the Balance Sheet on page 5. Total incoming resources were £7,729 (2021: £4,580 ) of which £3,000 was a grant given to assits with the charity's running costs ( 2021: a £3,000 grant given for the purpose of acquiring containers ); Resources expended were £6,610 ( 2021: £5,069 ) in total. The overall surplus for this year was £669 ( 2021: deficit £489 ), and the general reserve is now £9,253 ( 2021: £6,138 ) and the restricted reserve is £15,980 ( 2021: £18,426 ). The main achievements of the charity were:
-
Achieving charitable status - done
-
Creating and maintaining a business plan - Version 5 of business plan done
-
Creating a detailed design for the first site describing GIs arriving via Gladstone Dock - done
-
Creating a network of Friends of the Docklands Trail - This has been done and.Firends of the Docklands
-
Trail will be re-activated after Covid lockdown
-
Gaining support from the relevant Liverpool Councillor and SBC Chief Executive - formal support achieved
-
The official opening of the Docklands Trail took place in August 2019
-
Completing site and installation of display containers with graphic displays. The Collingwood site has been completely refurbished with planting sponsored by individual volunteers.
• Establishing and resourcing the plan to the Dockland Trail Visitor Centre with the development of new space at Collingwood and the installation of two containers telling the story of the arrival of the GI's via Bootle in World War 2.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Structure, governance and management
a. Constitution
The charity was incorporated as a Charitable Incorporated Organisation (CIO) on 24 January 2017 and commenced its activities on that date. The company number is CE008903.
b. Method of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.
This report was approved by the Trustees, on 6 July 2022 and signed on their behalf by:
L. Ellis, Trustee
Page 3
THE DOCKLANDS TRAIL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted funds Note 2022 £ Income from: Donations and legacies 2 7,279 Total income 7,279 Expenditure on: Raising funds 4,164 Charitable activities 3 - Total expenditure 4 4,164 Net income / (expenditure) before other recognised gains and losses 3,115 Net movement in funds 3,115 Reconciliation of funds: Total funds brought forward 6,138 Total funds carried forward 9,253 |
Restricted funds 2022 £ - - - 2,446 2,446 (2,446) (2,446) 18,426 15,980 |
Total funds 2022 £ 7,279 7,279 4,164 2,446 6,610 669 669 24,564 25,233 |
Total funds 2021 £ 4,580 4,580 2,623 2,446 5,069 (489) (489) 25,053 24,564 |
|---|---|---|---|
The notes on pages 6 to 13 form part of these financial statements.
Page 4
THE DOCKLANDS TRAIL
BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Tangible assets 6 Current assets Debtors 7 Cash at bank and in hand Creditors:amounts falling due within one year 8 Net current assets Net assets Charity Funds Restricted funds 9 Unrestricted funds 9 Total funds |
2022 £ £ 16,102 1,000 8,131 9,131 - 9,131 £ 25,233 15,980 9,253 £ 25,233 |
2021 £ £ 18,548 - 8,952 8,952 (2,936) 6,016 £ 24,564 18,426 6,138 £ 24,564 |
2021 £ 18,548 6,016 |
|---|---|---|---|
The financial statements were approved by the Trustees on 6 July 2022 and signed on their behalf, by:
A. Wilson, Trustee
L. Ellis, Trustee
The notes on pages 6 to 13 form part of these financial statements.
Page 5
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting Policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes 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) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
The Docklands Trail constitutes a public benefit entity as defined by FRS 102.
1.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Page 6
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting Policies (continued)
1.4 Tangible fixed assets and depreciation
All assets costing more than £500 are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Other fixed assets - 10% staright line
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
1.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
1.9 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 7
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting Policies (continued)
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
2. Income from donations and legacies
| Income from donations and legacies | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||||||||||||
| funds | funds | funds | funds | ||||||||||||||
| 2022 | 2022 | 2022 | 2021 | ||||||||||||||
| £ | £ | £ | £ | ||||||||||||||
| Donations | 4,279 | - | 4,279 | 1,580 | |||||||||||||
| Grants | 3,000 | - | 3,000 | 3,000 | |||||||||||||
| Total donations and legacies | £ | 7,279 | £ | - | £ | 7,279 | £ | 4,580 | |||||||||
| Total 2021 | £ | 1,580 | £ | 3,000 | £ | 4,580 | |||||||||||
| Governance costs | |||||||||||||||||
| Unrestricted | Restricted | Total | Total | ||||||||||||||
| funds | funds | funds | funds | ||||||||||||||
| 2022 | 2022 | 2022 | 2021 | ||||||||||||||
| £ | £ | £ | £ | ||||||||||||||
| Governance - depreciation - tangible fixed | |||||||||||||||||
| assets | £ | - £ |
2,446 | £ | 2,446 | £ | 2,446 |
3. Governance costs
Page 8
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
4. Analysis of Expenditure by expenditure type
| Depreciation | Depreciation | Depreciation | Depreciation | Other | Other | costs | costs | Total | Total | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2022 | 2022 | 2021 | |||||||||||||
| £ | £ | £ | £ | |||||||||||||
| Expenditure on fundraising trading | - | 4,164 | 4,164 | 2,623 | ||||||||||||
| Costs of raising funds | - | 4,164 | 4,164 | 2,623 | ||||||||||||
| Expenditure on governance | 2,446 | - | 2,446 | 2,446 | ||||||||||||
| £ | 2,446 | £ | 4,164 | £ | 6,610 | £ | 5,069 | |||||||||
| Total 2021 | 2,446 | 2,623 | 5,069 |
5. Net income/(expenditure)
This is stated after charging:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets: | ||
| - owned by the charity | 2,446 | 2,446 |
During the year, no Trustees received any remuneration (2021 - £NIL). During the year, no Trustees received any benefits in kind (2021 - £NIL). During the year, no Trustees received any reimbursement of expenses (2021 - £NIL).
Page 9
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6. Tangible fixed assets
| Tangible fixed assets | ||
|---|---|---|
| Other fixed | ||
| assets | ||
| £ | ||
| Cost | ||
| At 1 April 2021 and 31 March 2022 | 24,460 | |
| Depreciation | ||
| At 1 April 2021 | 5,912 | |
| Charge for the year | 2,446 | |
| At 31 March 2022 | 8,358 | |
| Net book value | ||
| At 31 March 2022 | £ | 16,102 |
| At 31 March 2021 | £ | 18,548 |
Other fixed assets comprise containers used for exhibition purposes.
7. Debtors
| Debtors | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Other debtors | £ | 1,000 | £ | - |
| Creditors: Amounts falling due within one year | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Other creditors | £ | - | £ | 2,936 |
8. Creditors: Amounts falling due within one year
Page 10
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
9. Statement of funds
Statement of funds - current year
| Statement of funds - current year | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | ||||||||||||||||
| Balance at | 31 March | |||||||||||||||
| 1 | April 2021 | **Income ** | Expenditure | 2022 | ||||||||||||
| £ | £ | £ | £ | |||||||||||||
| Unrestricted funds | ||||||||||||||||
| General Funds - all funds | 6,138 | 7,279 | (4,164) | 9,253 | ||||||||||||
| Restricted funds | ||||||||||||||||
| Restricted Funds - all funds | 18,426 | - | (2,446) | 15,980 | ||||||||||||
| Total of funds | £ | 24,564 | £ | 7,279 | £ | (6,610) | £ | 25,233 | ||||||||
| Statement of funds - prior year | ||||||||||||||||
| Balance at | ||||||||||||||||
| Balance at | 31 March | |||||||||||||||
| 1 April 2020 | Income | Expenditure | 2021 | |||||||||||||
| £ | £ | £ | £ | |||||||||||||
| General Funds - all funds | 7,181 | 1,580 | (2,623) | 6,138 | ||||||||||||
| Restricted funds | ||||||||||||||||
| Restricted Funds - all funds | 17,872 | 3,000 | (2,446) | 18,426 | ||||||||||||
| Total of funds | £ | 25,053 | £ | 4,580 | £ | (5,069) | £ | 24,564 | ||||||||
| Summary of funds - current year | ||||||||||||||||
| Balance at | ||||||||||||||||
| Balance at | 31 March | |||||||||||||||
| 1 | April 2021 | **Income ** | Expenditure | 2022 | ||||||||||||
| £ | £ | £ | £ | |||||||||||||
| General funds | 6,138 | 7,279 | (4,164) | 9,253 | ||||||||||||
| 6,138 | 7,279 | (4,164) | 9,253 | |||||||||||||
| Restricted funds | 18,426 | - | (2,446) | 15,980 | ||||||||||||
| £ | 24,564 | £ | 7,279 | £ | (6,610) | £ | 25,233 |
Page 11
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
9. Statement of funds (continued)
Summary of funds - prior year
| Balance at | Balance at | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | 31 March | |||||||||||||||
| 1 | April 2020 | Income | Expenditure | 2021 | ||||||||||||
| £ | £ | £ | £ | |||||||||||||
| Designated funds | 7,181 | 1,580 | (2,623) | 6,138 | ||||||||||||
| Restricted funds | 17,872 | 3,000 | (2,446) | 18,426 | ||||||||||||
| £ | 25,053 | £ | 4,580 | £ | (5,069) | £ | 24,564 |
10. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Analysis of net assets between funds - current year | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||||||
| funds | funds | funds | ||||||||
| 2022 | 2022 | 2022 | ||||||||
| £ | £ | £ | ||||||||
| Tangible fixed assets | 122 | 15,980 | 16,102 | |||||||
| Current assets | 9,131 | - | 9,131 | |||||||
| £ | 9,253 | £ | 15,980 | £ | 25,233 | |||||
| Analysis of net assets between funds - prior year | ||||||||||
| Unrestricted | Restricted | Total | ||||||||
| funds | funds | funds | ||||||||
| 2021 | 2021 | 2021 | ||||||||
| £ | £ | £ | ||||||||
| Tangible fixed assets | 122 | 18,426 | 18,548 | |||||||
| Current assets | 8,952 | - | 8,952 | |||||||
| Creditors due within one year | (2,936) | - | (2,936) | |||||||
| £ | 6,138 | £ | 18,426 | £ | 24,564 |
Page 12
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
11. Reconciliation of net movement in funds to net cash flow from operating activities
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Net income/(expenditure) for the year (as per Statement of Financial | |||||
| Activities) | 669 | (489) | |||
| Adjustment for: | |||||
| Depreciation charges | 2,446 | 2,446 | |||
| Increase in debtors | (1,000) | - | |||
| Decrease in creditors | (1) | (4,998) | |||
| Net cash provided by/(used in) operating activities | £ | 2,114 | £ | (3,041) | |
| 12. | Analysis of cash and cash equivalents | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Cash in hand | 8,131 | 8,952 | |||
| Total | £ | 8,131 | £ | 8,952 |
Page 13