## COMPANY REGISTRATION NUMBER: 10407948 CHARITY REGISTRATION NUMBER: 1171742
NW7 Hub Company Limited by Guarantee Unaudited Financial Statements 31 March 2021
LEAMAN MATTE! Chartered accountants 5th Floor, 64 North Row Mayfair London W1K 7DA
## NW7 Hub
## Company Limited by Guarantee
## Financial Statements
## Year ended 31 March 2021
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|---|---|---|---|---|---|---|---|---|---|
|Page|
|Trustees’|annual|report|{incorporating|the|director's|report)|1|
|Independent|examiner's|report|to|the|trustees|6|
|Statement|of|financial|activities|(including|income|and|
|expenditure|account)|7|
|Statement|of|financial|position|8|
|Notes|to|the|financial|statements|10|
|The|following|pages|do|not form|part|of|the|financial|statements|
|Detailed|statement|of|financial|activities|20|
|Notes|to|the|detailed|statement|of financial|activities|21|
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## NW7 Hub
## Company Limited by Guarantee
## Trustees’ Annual Report (Incorporating the Director's Report)
## Year ended 31 March 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
## Chalr's report
The financial statements have been prepared in accordance with the accounting policies set out on pages 10 to 12 and the special provisions of Part 15 of the Companies Act 2006 relating to small entities. These statements also comply with current statutory requirements, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP (FRS 102)).
## Reference and administrative details
## Registered charity name NW7 Hub
Charity registration number 1171742 Company registration number 10407948 Principal office and registered Mill Hill Library office Hartley Avenue London NW?7 2HX England
## The trustees
P Edwards S Khatri (Retired 5 June 2020) A Mathur A Morley N Heather (Retired 3 September 2021) Independent examiner Paul Mattei
## Structure, governance and management
NW7 Hub is a private company limited by guarantee, incorporated on 3 October 2016 and is a registered charity, number 1171742. Registration was obtained on 3 October 2016. The NW7 Hub's trustees, who are also directors for the purposes of Company Law, have control of NW7 Hub and its property and funds.
The trustees meet at regular intervals during each year to give consideration to the status of NW7 Hub's funding, reserves and risks.
The trustees are appointed by invitation on to the Board by existing trustees. On appointment, an induction is given by an existing trustee explaining the procedures as well as an overview of the administrative procedures employed by NW7 Hub. In addition all new trustees are given a copy of the code of conduct for a trustee, explaining in detail their role and responsibilities.
-41-
## NW7 Hub
## Company Limited by Guarantee
## Trustees’ Annual Report (Incorporating the Director's Report) (continues
## Year ended 31 March 2021
## Objectives and activities
The NW7 Hub is a charity based in Mill Hill, North London and was created by a group of committed local residents with the ultimate vision to build a new and vibrant community facility on the site of the Civil Defence Building in Daws Lane, Mill Hill, NW7 which once built will provide a host of activities, special events and services for all ages.
The charity's objects are, for the public benefit, to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
As part of this journey in 2017 we began operating from Mill Hill Library building, winning a 10 year contract to operate the Mill Hill Library from 1 April 2017 on behalf of Barnet Council and also delivering a range of activities and services in the HUB to enhance and to develop the local area and sense of a community.
With a team of wonderful volunteers we have begun to develop both the Library and HUB programme, including sessions for improving health and wellbeing, social activities for adults and seniors, musical and creative opportunities and baby and toddler classes. As we continue to grow as a charity we welcome support for this community focused project.
Following the award of the contract to operate Mill Hill Partnership Library, we have been establishing ourselves in the library and building firm foundations for growth and diversity in subsequent years. It has involved developing relationships with our customers, building trust and support from the community, ensuring our volunteers have the appropriate skills and resources to do their job well, evolving our partnership with London Borough of Barnet (LBB) and creating networks upon which to build. In In parallel we have also been setting up the HUB community activities which will work closely with the library and complement and add to the breadth of programming activities and engagement.
## Public benefit statement
We are conscious that the Charities Act 2011 emphasises the requirement that all charities of every kind must be able to demonstrate that their work is of direct benefit to the public. We believe that the activities we fund through all income streams including grants, cover a wide range of issues, which we categorise under:
- Health and Wellbeing
- Leaming and Cultural Enrichment
- - Community Cohesiveness and Interaction
- Networking and Signposting
-2-
## NW7 Hub
## Company Limited by Guarantee
## Trustees’ Annual Report (Incorporating the Director's Report) (continuea
## Year ended 31 March 2021
## Achievements and performance
As required of us in the Partnership Agreement we have reported monthly statistics to Bamet Council Library Services team in accordance with the schedule. Operational reviews have been conducted by the Council and matters discussed and actioned as appropriate. Communication with Council representatives in Library Services have been efficient and effective.
## Programming
Owingable to toofferthe digitalCovid-alternatives19 pandemicandwe followinghad to suspendgovernmentour regularguidelines,contractualslowly commitments,re opening activitiesbut wereas restrictions allowed. We created a food and goods bank working in partnership with the London Borough of Barnet.
## Financial review
Total incoming resources amounted to £84,767 (2020: £87,851). This income includes restricted grants, restricted and unrestricted donations and rental income. The total expenditure for the year amounted to £37,458 (2020: £108,110) leaving a net surplus for the year of £47,309 (2020: £20,259 deficit). NW7 Hub had £8,490 (2020: £693) of restricted funds at 31 March 2021. Detail is contained in the accounts herein.
## Reserves policy and going concem
In view of the nature of the Trust's activities, the trustees have no policy on reserves. Rather, they seek to ensure that liabilities can be paid as they fall due without accumulating unnecessarily high cash balances.
The trustees have reviewed the current and future cashflow requirements of the charity and concluded that the charity has the ability to meet its debts as they fall due. On this basis the trustees consider that the going concern assumption is an appropriate basis on which to prepare the financial statements.
## Plans for future periods
In addition to continuing operating Mill Hill Partnership Library and extending the complementary HUB activities, the trustees will focus on the development of the new community centre in Daws Lane. This will involve finalising the design, preparing for the planning application, fundraising and additional community engagement on the project. The trustee and staff will also continue to develop the team of volunteers, further improve policies and operating procedures and ensure the financial sustainability of the charity.
-3-
## NW7 Hub
## Company Limited by Guarantee
## Trustees’ Annual Report (Incorporating the Director's Report) (continues
## Year ended 31 March 2021
## Fundralsing statement
Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. Although we do not currently undertake widespread fundraising from the general public, the legislation defines fund raising as “soliciting or otherwise procuring money or other property for charitable purposes.” Such amounts receivable are presented in our accounts as “voluntary income” and include legacies and grants.
In relation to the above we confirm that all solicitations are managed intemally, without involvement of commercial participators or professional fund-raisers, or third parties. The board has day to day management of all income generation.
The charity is not bound by any undertaking to be bound by any regulatory scheme and the charity does not consider it necessary to comply with any voluntary code of practice.
We have received no complaints in relation to fundraising activities.
## Trustees’ responsibilities
The trustees are responsible for preparing the annual report and the financial statements of NW7 Hub in accordance with the Companies Act 2006 and for being satisfied that the financial statements give a true and fair view. The trustees are also responsible for preparing the financial statements in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees (who are Directors of NW7 Hub) to prepare financial statements for each financial year that give a true and fair view of the state of affairs of NW7 Hub and of the income and expenditure of NW7 Hub for that year. In preparing these financial statements, the trustees are required: - to select suitable accounting policies and then apply them consistently; - to make judgements and estimates that are reasonable and prudent; - to prepare the financial statements on a going concern basis, unless it is inappropriate to presume that NW7 Hub will continue in business.
The trustees are responsible for keeping adequate accounting records that show and explain NW7 Hub's transactions, disclose with reasonable accuracy at any time the financial position of NW7 Hub and enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of NW7 Hub and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees listed are directors of the charitable company.
## Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
-4-
## NW7 Hub
## Company Limited by Guarantee
## Trustees’ Annual Report (Incorporating the Director's Report) (continuea)
## Year ended 31 March 2021
The trustees' annual report was approved on trustees by: P Edwards Trustee
15 March 2022 and signed on behalf of the board of A Morley Trustee
siBes
## NW7 Hub
## Company Limited by Guarantee
## Independent Examiner's Report to the Trustees of NW7 Hub
## Year ended 31 March 2021
| report to the trustees on my examination of the financial statements of NW7 Hub (‘the charity’) for the year ended 31 March 2021.
## Responsibilities and basis of report
As the trustees of the company (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 accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, ! report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. _ the financial statements do not accord with those records; or
3. the financial statements 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 financial statements 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).
| 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.
Paul Mattei Independent Examiner
Leaman Mattei 5th Floor 64 North Row Mayfair W1K 7DA
-6-
## NW7 Hub
## Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
## Year ended 31 March 2021
||||2021||2020|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|Totalfunds|Total funds|
||Note|£|£|£|£|
|Income and endowments||||||
|Donations and legacies|5|30,726|-|30,726|27,093|
|Charitable activities|6|36,441|17,600|54,041|60,758|
|Total income||67,167|17,600|84,767|87,851|
|Expenditure||||||
|Expenditure on charitable activities|7,8|28,348|9,110|37,458|108,110|
|Total expenditure||28,348|9,110|37,458|108,110|
||||a|||
|Net income/(expenditure) and net||||||
|movement infunds||38,819|8,490|47,309|(20,259)|
|Reconciliation of funds||||||
|Total funds brought forward||(17,283)|693|(16,590)|3,669|
|Transfer offunds||693|(693)|0|0|
|Totalfundscarriedforward||22,229|8,490|30,719|(16,590)|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 10 to 18 form part of these financial statements.
ei oe
## NW7 Hub
## Company Limited by Guarantee
## Statement of Financial Position
## 31 March 2021
**----- Start of picture text -----**
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2021|2020|
|Note|£|£|£5|
|Fixed|assets|
|Tangible|fixed|assets|14|2,243|3,594|
|Investments|15|1|1|
|2,244|3,595|
|Current|assets|
|Debtors|16|46,831|995|
|Cash|at|bank|and|in|hand|2,076|10,663|
|48,907|11,658|
|Creditors:|amounts|falling|due|within|one|year|17|17,431|27,842|
|Net|current|assets|31,476|(16,184)|
|Total|assets|less|current|liabilities|33,720|(12,589)|
|Creditors:|amounts|falling|due|after|more|than|
|one|year|18|3,001|4,001|
|Net|assets|30,719|(16,590)|
|Funds|of the|charity|
|Restricted|funds|8,490|693|
|Unrestricted|funds|22,229|(17,283)|
|Total|charity funds|21|30,719|(16,590)|
**----- End of picture text -----**
For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors' responsibilities:
- e 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;
- e The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
## The statement of financial position continues on the following page. The notes on pages 10 to 18 form part of these financial statements.
aye
## NW7 Hub
## Company Limited by Guarantee
## Statement of Financial Position (continuew
## 31 March 2021
These financial statements were approved by the board of trustees and authorised for issue on 15 March 2022 and are signed on behalf of the board by:
P Edwards Trustee
A Morley Trustee
The notes on pages 10 to 18 form part of these financial statements.
age
## NW7 Hub
## Company Limited by Guarantee
## Notes to the Financial Statements
## Year ended 31 March 2021
## 1. General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Mill Hill Library, Hartley Avenue, London, NW7 2HX, England.
## 2.
## Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, 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 (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
3. Accounting policies
The financial statements are prepared in sterling, which is the functional currency of the entity.
## Going concern
The Trustees have reviewed the current and future cashflow requirements of the charity and concluded that the charity has the ability to meet its debts as they fall due. On this basis the Trustees consider that the going concern assumption is an appropriate basis on which to prepare the financial statements.
## Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management 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 are available for use at the discretion of the Trustees to further any of the charity's purposes.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
## Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-10-
## NW7 Hub
## Company Limited by Guarantee
## Notes to the Financial Statements (continued
## Year ended 31 March 2021
## 3. Accounting policies (continued)
## incoming resources (continued)
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
## Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- ° expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
- ¢ expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- ° other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
## Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 25% reducing balance Equipment - 25% reducing balance Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. !f fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
-11-
## NW7 Hub
## Company Limited by Guarantee
## Notes to the Financial Statements (continueg)
## Year ended 31 March 2021
## 3. Accounting policies (continued
## Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liabitity.
## Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
## Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
## Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
-12-
## NW7 Hub
## Company Limited by Guarantee Notes to the Financial Statements (continueg
## Year ended 31 March 2021
## 4. Limited by guarantee
The liability of the Charity members is limited.
Every Charity member promises, if the Charity is wound up whilst he is a Charity member or within one year after ceasing to be a Charity member, to contribute such amount as is required up to a maximum of £1 towards:
- winding up the Charity
- the payment of the debts and the payment of the costs, charges and expenses of liabilities incurred whilst the contributor was a Charity Member, and
- the adjustment of the rights of the contributories among themselves
## 5. Donations and legacies
||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|2021|Funds|2020|
||is|£|£|£|
|Donations|||||
|HUB|~|-|1,158|1,158|
|Grants|||||
|Library|25,000|25,000|25,000|25,000|
|Furlough income (Government grant|||||
|income)|5,726|5,726|935|935|
||30,726|30,726|27,093|27,093|
|Charitable activities|||||
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2021|
|||£|£|£|
|Library||36,441|17,600|54,041|
|HUB||-|-|-|
|||36,441|17,600|54,041|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2020|
|||£|£|3|
|Library||6,890|-|6,890|
|HUB||53,868|-|53,868|
|||60,758|-|60,758|
## 6. Charitable activities
ce
## NW7 Hub
## Company Limited by Guarantee
## Notes to the Financial Statements (continue)
## Year ended 31 March 2021
## 7. Expenditure on charitable activities by fund type
|||||Unrestricted|Restricted|Total|Funds|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds||2021|
|||||£|£||£|
||Library
HUB|||-
ms|9,110
i||9,110
ss|
||Support costs|||28,348|-||28,348|
|||||28,348|9,110||37,458|
|||||Unrestricted|Restricted|Total|Funds|
|||||Funds|Funds||2020|
|||||£|a||£|
||Library|||31|-||31|
||HUB|||16,605|_||16,605|
||Support costs|||91,474|-||91,474|
|||||108,110|-|108,110||
|8.|Expenditure on charitable activities by activity||type|||||
|||Activities||||||
|||undertaken|||Total funds|Total fund||
|||directly Support costs|||2021||2020|
|||£||£|£||£|
||Library|9,110||25,113|34,223||27,897|
||HUB||-|5|775||77,815|
||Governance costs||-|2,460|2,460||2,398|
|||9,110||28,348|37,458|108,110||
|9.|Analysis ofsupport costs|||||||
|||Library||HUB|Total 2021|Total 2020||
|||£||£|£||£|
||Staff costs|14,428||-|14,428||49,522|
||Premises|785||~|785||29,587|
||General|659||926|1,585||9,966|
|||15,872||926|16,798||89,075|
|10.|Net income/(expenditure)|||||||
||Net income/(expenditure) is stated after|charging/(crediting):||||||
||||||2021||2020|
||||||3||£|
||Depreciation of tangible fixed assets||||747||1,198|
||Lossondisposalofheritageassets||||-||1,978|
## 8. Expenditure on charitable activities by activity type
-14-
.
## NW7 Hub
## Company Limited by Guarantee
## Notes to the Financial Statements (continued)
## Year ended 31 March 2021
## 11. Independent examination fees
||2021|2020|
|---|---|---|
||£|£|
|Fees payable to the independent examiner for:|||
|Independentexaminationofthefinancialstatements|2,400|2,520|
## 12. Staff costs
|The average head count of employees during the year was 1 (2020: 5). The average|The average head count of employees during the year was 1 (2020: 5). The average|The average head count of employees during the year was 1 (2020: 5). The average|number|of|
|---|---|---|---|---|
|full-time equivalent employees during the year is analysed as follows:|||||
||2021||2020||
|Library|No.|1|No.|2|
|HUB||-||3|
|||1||5|
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
## 13. Trustee remuneration and expenses
During the year the following Trustees incurred costs personally on behalf of the charity. Details as follows:
|||||Outstanding|
|---|---|---|---|---|
||Outstanding|||balance at|
||balance at 31|Expenses|Expenses|31 March|
||March 2020|incurred|reimbursed|2021|
||£|£|£|£|
|Adam Morley|-|172|172|-|
|PaulEdwards|-|7,633|7,633|-|
The Trustees received no other remuneration or benefits from NW7 Hub in the year other than those disclosed above.
-15-
## NW7 Hub
## Company Limited by Guarantee
## Notes to the Financial Statements (continuea
## Year ended 31 March 2021
## 14. Tangible fixed assets
|||Fixtures and|||
|---|---|---|---|---|
|||fittings | Equipment||Total|
|||£|£|£|
||Cost||||
||At 1 April 2020|4,091|3,042|7,133|
||Disposals|-|(1,314)|(1,314)|
||At 31 March 2021|4,091|1,728|5,819|
|||||/|
||Depreciation||||
||At 1 April 2020|1,929|1,610|3,539|
||Charge for the year|540|207|747|
||Disposals|-|(710)|(710)|
||At 31 March 2021|2,469|1,107|3,576|
|||.||/|
||Carrying amount||||
||At 31 March 2021|1,622|621|2,243|
||At 31 March 2020|2,162|1,432|3,594|
|15.|Investments||||
|||||Shares in|
|||||group|
|||||undertakings|
|||||£|
||Cost||||
||At 1 April 2020 and 31 March 2021|||1|
||Impairment||||
||At 1 April 2020 and 31 March 2021|||-|
||Carrying amount||||
||At 31 March 2021|||1|
||At31March2020|||1|
All investments shown above are held at valuation.
The Charity incorporated NW7 Hub Trading Ltd, a wholly owned subsidiary, on 31 March 2020.
16. Debtors
||2021|2020|
|---|---|---|
||£|£|
|Prepayments and accrued income|-|995|
|Other debtors|46,831|-|
||46,831|995|
-16-
## NW7 Hub
## Company Limited by Guarantee
## Notes to the Financial Statements (continuea
## Year ended 31 March 2021
## 17. Creditors: amounts falling due within one year
||2021|2020|
|---|---|---|
||£|[e|
|Trade creditors|14,031|24,442|
|Accruals and deferred income|2,400|2,400|
|Other creditors|1,000|1,000|
||17,431|27,842|
|Creditors: amounts falling due after more than one year|||
||2021|2020|
||£|£|
|Othercreditors|3,001|4,001|
## 18. Creditors: amounts falling due after more than one year
## 19. Pensions and other post retirement benefits
## Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £766 (2020: £1,568).
## 20. Government grants
The amounts recognised in the financial statements for government grants are as follows:
|||2021|2020|
|---|---|---|---|
|||£|£|
|Recognised|in income from donations and legacies:|||
|Government|grantsincome|5,726|935|
## 21. Analysis of charitable funds
## Unrestricted funds
||||||||At|
|---|---|---|---|---|---|---|---|
||||At||||31 March 202|
|||1|April 2020|Income|Expenditure|Transfers|1|
||||£|=|£|£|£|
|General|funds||(17,283)|67,167|(28,348)|693|22,229|
||||||||At|
||||At||||31 March 202|
|||1|April 2019|Income|Expenditure|Transfers|0|
||||£|£|£|£|£|
|General|funds||2,976|87,851|(108,110)|-|(17,283)|
47
## NW7 Hub
## Company Limited by Guarantee
## Notes to the Financial Statements (continueg
## Year ended 31 March 2021
## 21. Analysis of charitable funds (continued)
## Restricted funds
|Restricted funds||||||
|---|---|---|---|---|---|
||||||At|
||At||||31 March 202|
|1 April|2020|Income|Expenditure|Transfers|1|
||£|£|£|£|£|
|Installation of the kitchen
Foodbank costs|-
-|10,000
7,600|(6,444)
(2,666)|-
-|3,556
4,934|
|Donation for benefit of||||||
|children|693|-|-|(693)|-|
||693|17,600|(9,110)|(693)|8,490|
||||||At|
||At||||31 March 202|
|1 April|2019
£|Income
Ee|Expenditure
£|Transfers
£|0
£|
|Installation of the kitchen|=|-|-|-|-|
|Foodbank costs|-|-|-|-|-|
|Donation for benefit of||||||
|children|693|~|-|-|693|
||693|“a||m=|693|
|Analysis of netassets between|funds|||||
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2021|
||||£|£|£|
|Tangible fixed assets|||2,243|-|2,243|
|Investments|||1|-|1|
|Current assets|||40,417|8,490|48,907|
|Creditors less than 1 year
Creditors greater than 1 year|||(17,431)
(3,001)|-
~|(17,431)
(3,001)|
|Netassets|||22,229|8,490|30,719|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2020|
||||£|£|£|
|Tangiblefixedassets|||3,594|-|3,594|
|Investments|||1|-|1|
|Current assets|||10,965|693|11,658|
|Creditors less than 1 year|||(27 842)|-|(27,842)|
|Creditors greater than 1 year|||(4,001)|-|(4,001)|
|Netassets|||(17,283)|693|(16,590)|
## 22. Analysis of net assets between funds
## 23. Related parties
Included in Other Debtors are amounts owing from NW7 Hub Trading Ltd at the year end of £46,831. The loan is unsecured and interest free terms and is repayable on demand.
-18-