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2022-03-31-accounts

TAUNTON WOMEN’S AID

ANNUAL REPORT & UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

REGISTERED CHARITY 1172323 P O Box 286, Taunton, Somerset

CONTENTS

Page
Charity Information 1
Trustees’ Report 2 – 4
Independent Examiner’s Report 5
Statement of Financial Activities 6
Balance Sheet 7
Statement of Cashflow 8
Notes to the Financial Statements 9 - 13

Taunton Women’s Aid Charity Information

Trustees: Judith Jackson Chair
Judith Smith Secretary
Hilary Corcoran
Anne Kearle
Lucy Nicholls-Brice
Victoria Hanna
Geraldine Wadham
Principal Address: P O Box 286
Taunton
Somerset
TA2 6YD
Independent Examiner: Sarah Twist FCA DChA
A C Mole
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
Bankers: National Westminster Bank plc
26-27 Fore Street
Taunton
TA1 1JQ

1

Taunton Women’s Aid

Annual Report for the year ended 31 March 2022

The Trustees present their Report together with the financial statements of the Charity for the year ended 31 March 2022.

Structure and Governance

The Charity is a CIO (Charitable Incorporated Organisation) and was registered on 29 March 2017. The Charity’s registered number is 1172323. The initial funds of CIO were received as a transfer of assets and liabilities transferred from the former unincorporated charity Taunton Women’s Aid (registered number 273441).

A list of Trustees, who served during the period, is given on page 1. The Trustees oversee the management of the Charity and decide its strategic direction with regard to its charitable objectives.

Objectives and Activities

The objects of the CIO are:

To promote the protection of adults and children who have suffered or are suffering from or have been exposed to domestic abuse by such means as are charitable including the preservation of their mental and physical health, the relief of need and the promotion of education concerning domestic abuse.

These objectives will be mainly achieved through the awarding of grants.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities.

Chair’s report

The financial year 2021/22 has seen TWA continue to grant fund local organisations offering services and support to people who have suffered from, or are affected by, domestic abuse. Such organisations having adapted to the restrictions imposed by Covid have been returning to face to face working with less emphasis on line provision. The emphasis of the work we have grant funded has altered slightly with a move towards prevention and education, although we continue to fund basic one to one counselling services. The number of applications remains steady and we are able to make grants to most applications, although one or two have not met our criteria.

The Charity owns a purpose built refuge which is leased YOU Trust who have been running the domestic abuse service across the county since 1 April 2020. The domestic abuse services are about to be re-commissioned and it is likely that YOU Trust will give notice in the near future. They will be tendering to continue the services and we have indicated that we would be prepared to lease the premises to them for a further term if they are successful. We further understand that it will be a requirement of the contract that a refuge is provided so we are hopeful that the premises will remain in use as a refuge and continue to provide rental income to the charity. The rent provides the bulk of the Charity’s income.

The Trustees having adapted their way of working during the pandemic by meeting on Zoom have continued to do so to enable all trustees to attend. This form of meeting is generally used to discuss applications, whilst other day to day business is conducted by email.

Against this background we were pleased to be able to agree and make the following grants. £5,000 of a grant of £10,000 previously agreed to Barnardo’s, was paid during the financial year to finance individual counselling for three young people. Whilst we would not normally have made a grant of £10,000 that would assist only three people, Barnardo’s made a very strong case that that funding for this very much needed counselling was not available elsewhere. A grant of £10,000 to Wellington Counselling Services was made to enable continued one to one counselling. We are pleased to support this service as there is a perceived lack of provision in Wellington. We made a grant of £5,346 to Headway to support research into brain injuries arising from domestic abuse. The research was stalled as a result of difficulties arising from Covid but is now back on course. Finally, we made a grant to Stand Against Violence to carry our workshops in schools around the issues of domestic violence and consent.

Each recipient of a grant is required to provide a report as to how the monies granted have been spent, and the Trustees are pleased with the standard of reports received. We are thereby able to ensure that value for money is being achieved, and we are satisfied that this has been the case in relation to each grant.

Now that hopefully the worst of the pandemic is behind us we will be concentrating in the coming year on trying to attract more applications as we are aware there is a great need to in the areas of domestic abuse.

2

Taunton Women’s Aid

Annual Report for the year ended 31 March 2022 (continued)

Finally, I would like to put on record my thanks to my fellow trustees for giving generously of their time and expertise to the Charity. There is a wide range of skills amongst the Trustees and I am always grateful for their support and expertise in our work and decision making.

Financial Review

Income for the year amounted to £34,886 (2021: £33,882). Grant funding of £28,596 (2021: £25,250) was agreed within the year. The administration costs of the charity were £5,855 (2021: £4,871.)

Reserves Policy

Need for Reserves

The factors that impact on the need for reserves have been assessed to include:

Level of Reserves

The trustees acknowledge that they have a general legal duty to apply charity funds within a reasonable time of receiving them, whilst ensuring the charity is not exposed to financial/liquidity risk.

The minimum level of reserves will be equal to the costs of running the charity for three months.

As at 31 March 2022 the reserves held total £537,133 (2021: £536,698) of which £325,000 (2021: £325,000) is held in the investment property leaving £212,133 (2021: £211,698) of free reserves. This balance is substantially in excess of the reserves required in the policy therefore the Trustees have taken steps to raise awareness of the availability of grants to increase future applications.

Investment of Funds

Under the Trustee Act 2000, trustees are required to have a written investment policy. They are also required to demonstrate that they review this policy, and the performance of any investment advisers if appointed, to ensure that funds are being managed in the best interest of all connected parties. This Act imposes a duty on those acting as charity trustees when exercising their powers of investment, to consider the need for diversification, in order to reduce the risk of loss should an investment fall.

The charity has the power to invest in land and buildings and investment assets. Land and buildings are to be held by the Official Custodian rather than in the names of individual trustees.

The level of reserves is to be reviewed annually, as part of the budget setting process, and with reference to the business plan. The policy is to be reviewed by the trustees should there be a material change in circumstances or at least every three years.

Risk Policy

The major risks to which the charity is exposed have been reviewed and systems have been put in place or are being put in place to mitigate these risks.

Going Concern

The trustees have reconsidered their risk assessment over the viability of the charity for the following 12 months in the light of the COVID-19 pandemic. They do not consider that there will be any reduction in income or on activities as the charity does not deliver services, employ staff or occupy any premises that might be impacted by the pandemic.

3

Taunton Women’s Aid

Annual Report for the year ended 31 March 2022 (continued)

Responsibilities of the Trustees

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Trustees and signed on their behalf.

Judith Jackson - Chair

Date ……………………………….

4

Taunton Women’s Aid

Independent Examiner’s Report to the Trustees of Taunton Women’s Aid

I report to the trustees on my examination of the accounts of Taunton Women’s Aid (the Charity) for the year ended 31 March 2022, which are set out on pages 6 to 13.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and 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 material 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 accounts to be reached.

Sarah Twist FCA DChA A C Mole Chartered Accountants Stafford House Blackbrook Park Avenue Taunton Somerset TA1 2PX

……………………..2022

5

Taunton Women’s Aid

Statement of Financial Activities for the year ended 31 March 2022

Unrestricted Unrestricted Total Funds Total Funds
Funds Funds Year Ended Year Ended
Note General Designated 31.03.22 31.03.21
£ £ £ £
INCOME
Donations 201 - 201 1,796
Investment income 2 34,022 - 34,022 32,086
Other income 663 - 663 -
______ ______ ______ ______
TOTAL INCOME 34,886 - 34,886 33,882
______ ______ ______ ______
EXPENDITURE ON:-
Charitable activities 3 34,451 - 34,451 30,121
______ _____ ______ ______
TOTAL EXPENDITURE
34,451 - 34,451 30,121
______ ______ ______ ______
NET INCOME/(EXPENDITURE)
FOR THE YEAR 435
-
435		 3,761
RECONCILIATION OF FUNDS
Total funds brought forward 211,698 325,000 536,698 532,937
______ ______ ______ _
Total funds carried forward 13 212,133
______		 325,000
______		 537,133
______		 536,698
_

The notes on pages 9 – 13 form part of these financial statements

6

Taunton Women’s Aid Balance Sheet as at 31 March 2022

FIXED ASSETS
Investment property
CURRENT ASSETS
Debtors and prepayments
Cash in hand and at bank
CREDITORS: Amounts Falling Due
Within One Year
NET CURRENT ASSETS
NET ASSETS
THE FUNDS OF THE CHARITY
Unrestricted Funds
General
Designated		 Notes
£
8
9
826
10
229,083
__
229,909
11 17,776
____		 2022
£
£
325,000
__
325,000
1,212
233,006
_
234,218
22,520

212,133

537,133

212,133
325,000

537,133
___		 2021
£
325,000
_
325,000

211,698
__
536,698
_
211,698
325,000

536,698
___

These financial statements were approved by the Trustees on and signed on their behalf by:

Judith Jackson - Chair

The notes on pages 9 – 13 form part of these financial statements

7

Taunton Women’s Aid

Statement of Cashflows for the year ended 31 March 2022

Note
Cash flows from operating activities:
Net cash generated (used by) operating activities
15
Cash flows from investing activities:
Investment income
Net cash (used by)/generated from investing activities
(Decrease)/Increase in cash and cash equivalents
in the period
Cash and cash equivalents at the beginning of the reporting period

Cash and cash equivalents at the end of the reporting period		 Total
Total
Funds
Funds
2022
2021
£
£
(37,945)
(21,618)
34,022
32,086
_
__
(3,923)
10,468
(3,923)
10,468
233,006
222,538
_
____
229,083
233,006

8

Taunton Women’s Aid

Notes to the Financial Statements for the year ended 31 March 2022

1 Accounting Policies

Charity status

Taunton Women’s Aid is a Charitable Incorporated Organisation (CIO) registered with the Charity Commissioners No. 1172323 and is constituted by its governing document dated 29 March 2017.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of investment property measured at fair value through the statement of financial activities. The financial statements have also been prepared in accordance with 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) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.

Taunton Women’s Aid meets the definition of a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Income recognition

All income is included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income is only deferred when the donor has specified restrictions in the expenditure of the resources.

Expenditure recognition

Expenditure is recognised on the accruals basis as a liability is incurred. Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Expenditure on charitable activities 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 including governance costs.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled conditions attaching to that grant are outside of the control of the charity.

Funds structure

Unrestricted general funds: These are funds which can be used in accordance with the charity’s objectives at the discretion of the Trustees.

Unrestricted designated funds: These are funds which have been set aside by the Trustees for specific purposes.

Investment property

Investment property is stated at the trustees’ estimate of market value as set on in note 8.

Cash and cash equivalents

Cash and cash equivalents represents cash in hand and in instant access bank accounts.

Financial instruments

The charity only has financial assets and liabilities that qualify as basic financial instruments. Basic financial instruments are recognised at transaction price and subsequently measured at amortised cost.

9

Taunton Women’s Aid

Notes to the Financial Statements for the year ended 31 March 2022

Critical accounting judgements and estimation uncertainty

In the application of the Charity’s accounting policies described above, trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. 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 if the revision affects only that period, or in the period of the revision and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:-

Estimation of fair value of investment properties

As described in note 8, the fair value of investment properties is based on the Trustees valuation on an open market basis.

2 Investment income - unrestricted

Investment income - unrestricted
Year Ended Year Ended
31.03.22 31.03.21
£ £
Rent received 32,000 32,000
Bank interest 22 86
______
32,022 32,086
_____ _____

3 Expenditure on charitable activities - unrestricted

Grants awarded to institutions
Support costs (see note 4)
This comprises grants made to institutions as follows:
Category
Social welfare		 Year Ended Year Ended
31.03.22
31.03.21
£
£
28,596
25,250
5,855
4,871
_
34,451
30,121
_

2022
2021
No. of
Total
No. of
Total
Grants
Value
Grants
Value
£
£
5
28,596
4
25,250



___

10

Taunton Women’s Aid

Notes to the Financial Statements for the year ended 31 March 2022

4 Analysis of governance and support costs – unrestricted

Year Ended Year Ended
31.03.22 31.03.21
£ £
Rent and rates 726 689
Insurance 1,737 1,660
Professional fees 1,485 480
Stationery, postage and advertising 447 382
Course fees and subscriptions 100 100
Bank charges and loan interest 360 360
Independent Examiner’s fee 1,000 1,200
______ ______
5,855
______		 4,871
______
5 Net income for the period
Year Ended Year Ended
31.03.22 31.03.21
£ £
Net income for the period is stated after charging:
Independent Examiner’s fee 1,000 1,200
______ ______
1,000
______		 1,200
______

6 Trustees Remuneration and Expenses

The charity considers its key management personnel to comprise the Trustees.

No remuneration, either directly or indirectly, was paid or is payable from the charity’s funds to any of the Trustees or persons known to be connected to them (2021: None).

No reimbursement of expenses has been made or is due to be made to any of the Trustees in respect of the year (2021: None).

7 Related party transactions

There were no related party transactions during the year (2021: None).

11

Taunton Women’s Aid

Notes to the Financial Statements for the year ended 31 March 2022

8 Investment property

Total £ Fair value 325,000 __ At 31 March 2022 325,000 ____

On 21 June 2018 the investment property was formally transferred at a valuation of £325,000 from the former charity Taunton Women’s Aid (charity no: 273441). The trustees have reviewed this valuation and consider that it remains appropriate as there has been no change in rental yield.

9 Debtors

9 Debtors
2022 2021
£ £
Prepayments and accrued income 826 1,212
______ ______
826 1,212
______ ______
10 Cash and Bank
2022 2021
£ £
Cash in hand 10 14
Nat West Taunton, Current Account 10,000 10,007
Nat West Taunton, Reserve Account 219,073 222,985
______ ______
229,083 233,006
______ ______
11 Creditors
2022 2021
£ £
Trade creditors 363 -
Accrual for grants payable 16,173 20,000
Other accruals 1,240 2,520
______ ______
17,776
______		 22,520
______

12

Taunton Women’s Aid

Notes to the Financial Statements for the year ended 31 March 2022

12 Summary of Net Assets by Fund

13 Unrestricted
General
Fund
£
Fixed assets
-
Current assets
229,909
Current liabilities
(17,776)
______
212,133
Movement in funds
Unrestricted Funds
General
Designated
Designated Funds		 Unrestricted
Designated
Fund
£
325,000
-

-
__
325,000
31.03.21
£
211,698
325,000
_
536,698
___		 2022
Total
£
325,000
229,909
(17,776)
__
537,133
Income
£
34,886
-
_
34,886
___		 Unrestricted
General
Fund
£
-
234,218

(22,520)
__
211,698
Expenditure
£
(34,451)
-
_
(34,451)
___		 Unrestricted
Designated
2021
Fund
Total
£
£
325,000
325,000
-
234,218
-
(22,520)
__
_
325,000
536,698
31.03.22
£
212,133
325,000

537,133
___

The designated fund represents the fair value of the investment property. As these funds are invested in a long-term asset, they are not available to meet the ongoing expenses of the charity.

14 Movement in funds (2021 comparative)

01.04.20
Income Expenditure
£
£
£
Unrestricted Funds
General
207,937
33,882
(30,121)
Designated
325,000
-
-
__
_

532,937
33,882
(30,121)


___
Reconciliation of net income/(expenditure) to net cashflow from operating activities
Net income for the reporting period (as per the statement of financial activities)
Adjustments for:
Investment income
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors
Net cash (used) in operating activities		 31.03.21
£
211,698
325,000
__
536,698
_
2022
2021
£
£
435
3,761
(34,022)
(32,086)
386
(71)
(4,744)
6,778
_
____
(37,945)
(21,618)

15 Reconciliation of net income/(expenditure) to net cashflow from operating activities

13