Charity number: 1171279 THE DOCKLANDS TRAIL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THE DOCKLANDS TRAIL
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 14 |
THE DOCKLANDS TRAIL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
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
37 Argarmeols Road, Formby, Liverpool, L37 7BY
Page 1
THE DOCKLANDS TRAIL
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together with the financial statements of the charity for the year 1 April 2022 to 31 March 2023.
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
-
Raising the profile of Bootle – ongoing
-
Raising the self esteem of Bootle residents ongoing with Friends of the Docklands Trail (FoDT) and
-
Bootle visitors
-
Seek finance from the Heritage Lottery
-
Re-establishing the relationship with Hugh Baird College
-
Supporting schools in their teaching of local history
-
Maintaining contacts with potential donors and including Sefton Borough Council
-
Building on Trustees contribution
-
First stage planning for access to Metro Mayor, Steve Rotheram
-
Increasing Docklands Trail resources to support Docklands Trail visitors
-
include school children, by collaboration with the Canal & River Trust who have confirmed their provision
-
of accredited staff for children visiting
Page 2
THE DOCKLANDS TRAIL
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023
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 £2,476 (2022: £ 7,729); the figure for 2022 included a grant of £3,000 given to assist with the charity's running costs; Resources expended were £6,756 ( 2022: £ 6,610) in total. The overall deficit for this year was £4,280 ( 2022: surplus £669 ), and the general reserve is now £7,419 ( 2022: £ 9,253) and the restricted reserve is £13,534 ( 2022: £1 5,980). The main achievements of the charity were:
-
Maintaining charitable status
-
Creating and maintaining a business plan Version 5 of business plan done
• Creating then activating a programme of attracting Bootle residents to see and be involved in Bootle’s contribution to Merseyside’s’ history
• Established a relationship of guidance with the Heritage Lottery in seeking funds from them to further develop our Collingwood Dock site
• Two Heritage Lottery submissions have been submitted, and is now the subject of being given further guidance by a senior manager Heritage Lottery
• Raising additional funding for the Docklands Village site at Collingwood Dock, providing the potential for the installation of two new containers, and specifically to tell the story of the arrival of US GI’s in WWII and their experiences in wartime Merseyside, (subject to funding)
• Re-establishing relationships at Hugh Baird College with the Principal and Main Board with the focus on developing a programme to involve its students in relevant skills at Collingwood Dock from their apprenticeships’ to academic courses
• Established a joint project with one Bootle Primary School, whose Head Teacher has allocated two colleagues to set up a process across the Bootle Primary Schools for them to bring their pupils to Collingwood Dock, so as to learn and enjoy the history of their town
• Reactivating the network of Friends of the Docklands Trail (FoDT), based on a contact list of over 300 individuals submitting their contact information, covered by the Freedom of Information Act 2012
- Obtaining the support of Sefton Cabinet member who is now a DT Trustee
• Extending our Trustee numbers to build an ongoing project resource as current members in future choose to stand down from the project.
• A formal introduction to Metro Mayor, Steve Rotheram, is to be facilitated by recent contact with the retired MP of Bootle who has ongoing contact with Rotheram. This is to seek his support and possible contribution to our Docklands Village.
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
Page 3
THE DOCKLANDS TRAIL
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023
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 17 January 2024 and signed on their behalf by:
L. Ellis, Trustee
Page 4
THE DOCKLANDS TRAIL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted funds Note 2023 £ Income from: Donations and legacies 2 2,476 Total income 2,476 Expenditure on: Raising funds 3,759 Charitable activities 3 550 Total expenditure 4 4,309 Net income / (expenditure) before other recognised gains and losses (1,833) Net movement in funds (1,833) Reconciliation of funds: Total funds brought forward 9,253 Total funds carried forward 7,420 |
Restricted funds 2023 £ - - - 2,446 2,446 (2,446) (2,446) 15,980 13,534 |
Total funds 2023 £ 2,476 2,476 3,759 2,996 6,755 (4,279) (4,279) 25,233 20,954 |
Total funds 2022 £ 7,279 |
|---|---|---|---|
| 7,279 | |||
| 4,164 2,446 |
|||
| 6,610 669 669 24,564 |
|||
| 25,233 |
The notes on pages 7 to 14 form part of these financial statements.
Page 5
THE DOCKLANDS TRAIL
BALANCE SHEET AS AT 31 MARCH 2023
| Note Fixed assets Tangible assets 6 Current assets Debtors 7 Cash at bank and in hand Net assets Charity Funds Restricted funds 8 Unrestricted funds 8 Total funds |
2023 £ £ 13,656 1,000 6,298 7,298 £ 20,954 13,534 7,420 £ 20,954 |
2022 £ £ 16,102 1,000 8,131 9,131 £ 25,233 15,980 9,253 £ 25,233 |
2022 £ 16,102 9,131 |
|---|---|---|---|
The financial statements were approved by the Trustees on 17 January 2024 and signed on their behalf, by:
A. Wilson, Trustee
L. Ellis, Trustee
The notes on pages 7 to 14 form part of these financial statements.
Page 6
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
Page 7
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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% straight 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 8
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 | |||||||
| 2023 | 2023 | 2023 | 2022 | |||||||
| £ | £ | £ | £ | |||||||
| Donations | 2,476 | - | 2,476 | 4,279 | ||||||
| Grants | - | - | - | 3,000 | ||||||
| Total donations and legacies | £ 2,476 £ - |
£ 2,476 |
£ | 7,279 | ||||||
| Total 2022 | £ 7,279 £ - |
£ 7,279 |
||||||||
| Governance costs | ||||||||||
| Unrestricted | Restricted | Total | Total | |||||||
| funds | funds | funds | funds | |||||||
| 2023 | 2023 | 2023 | 2022 | |||||||
| £ | £ | £ | £ | |||||||
| Governance - depreciation - tangible fixed | ||||||||||
| assets | £ | - £ |
2,446 | £ | 2,446 | £ | 2,446 |
3. Governance costs
Page 9
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
4. Analysis of Expenditure by expenditure type
| Depreciation | Depreciation | Depreciation | Other costs | Other costs | Other costs | Total | Total | Total | Total | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2023 | 2023 | 2022 | |||||||
| £ | £ | £ | £ | |||||||
| Expenditure on fundraising trading | - | 3,759 | 3,759 | 4,164 | ||||||
| Costs of raising funds | - | 3,759 | 3,759 | 4,164 | ||||||
| Other income | - | 550 | 550 | - | ||||||
| Expenditure on governance | 2,446 | - | 2,446 | 2,446 | ||||||
| £ 2,446 |
£ 4,309 £ 6,755 |
£ 6,610 |
||||||||
| Total 2022 | 2,446 | 4,164 | 6,610 |
5. Net income/(expenditure)
This is stated after charging:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets: | ||
| - owned by the charity | 2,446 | 2,446 |
During the year, no Trustees received any remuneration (2022 - £NIL). During the year, no Trustees received any benefits in kind (2022 - £NIL). During the year, no Trustees received any reimbursement of expenses (2022 - £NIL).
Page 10
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Tangible fixed assets
| Tangible fixed assets | ||
|---|---|---|
| Other fixed | ||
| assets | ||
| £ | ||
| Cost | ||
| At 1 April 2022 and 31 March 2023 | 24,460 | |
| Depreciation | ||
| At 1 April 2022 | 8,358 | |
| Charge for the year | 2,446 | |
| At 31 March 2023 | 10,804 | |
| Net book value | ||
| At 31 March 2023 | £ | 13,656 |
| At 31 March 2022 | £ | 16,102 |
Other fixed assets comprise containers used for exhibition purposes.
7. Debtors
| Debtors | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Other debtors | £ | 1,000 | £ | 1,000 |
Page 11
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. Statement of funds
Statement of funds - current year
| Balance at | Balance at | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | 31 March | ||||||||||||
| 1 | April 2022 | **Income ** | Expenditure | 2023 | |||||||||
| £ | £ | £ | £ | ||||||||||
| Unrestricted funds | |||||||||||||
| General Funds - all funds | 9,253 | 2,476 | (4,310) | 7,419 | |||||||||
| Other General funds | - | - | 1 | 1 | |||||||||
| 9,253 | 2,476 | (4,309) | 7,420 | ||||||||||
| Restricted funds | |||||||||||||
| Restricted Funds - all funds | 15,980 | - | (2,446) | 13,534 | |||||||||
| Total of funds | £ | 25,233 | £ 2,476 |
£ (6,755) |
£ 20,954 |
||||||||
| Statement of funds - prior year | |||||||||||||
| Balance at | |||||||||||||
| Balance at | 31 March | ||||||||||||
| 1 April 2021 | Income | Expenditure | 2022 | ||||||||||
| £ | £ | £ | £ | ||||||||||
| 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 |
||||||||
| Summary of funds - current year | |||||||||||||
| Balance at | |||||||||||||
| Balance at | 31 March | ||||||||||||
| 1 | April 2022 | **Income ** | Expenditure | 2023 | |||||||||
| £ | £ | £ | £ | ||||||||||
| General funds | 9,253 | 2,476 | (4,309) | 7,420 | |||||||||
| Restricted funds | 15,980 | - | (2,446) | 13,534 | |||||||||
| £ | 25,233 | £ 2,476 |
£ (6,755) |
£ 20,954 |
Page 12
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. Statement of funds (continued)
Summary of funds - prior year
| Balance at | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | 31 March | ||||||||||
| 1 | April 2021 | Income | Expenditure | 2022 | |||||||
| £ | £ | £ | £ | ||||||||
| General funds | 6,138 | 7,279 | (4,164) | 9,253 | |||||||
| Restricted funds | 18,426 | - | (2,446) | 15,980 | |||||||
| £ | 24,564 | £ | 7,279 | £ (6,610) £ 25,233 |
9. 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 | |||||
| 2023 | 2023 | 2023 | |||||
| £ | £ | £ | |||||
| Tangible fixed assets | 122 | 13,534 | 13,656 | ||||
| Current assets | 7,297 | - | 7,297 | ||||
| Difference | 1 | - | 1 | ||||
| £ | 7,420 | £ | 13,534 £ 20,954 |
||||
| Analysis of net assets between funds - prior 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 |
Page 13
THE DOCKLANDS TRAIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
10. Reconciliation of net movement in funds to net cash flow from operating activities
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Net (expenditure)/income for the year (as per Statement of Financial | |||||
| Activities) | (4,279) | 669 | |||
| Adjustment for: | |||||
| Depreciation charges | 2,446 | 2,446 | |||
| Increase in debtors | - | (1,000) | |||
| Decrease in creditors | - | (1) | |||
| Net cash (used in)/provided by operating activities | £ | (1,833) | £ | 2,114 | |
| 11. | Analysis of cash and cash equivalents | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Cash in hand | 6,298 | 8,131 | |||
| Total | £ | 6,298 | £ | 8,131 |
Page 14