REGISTERED COMPANY NUMBER: 09683130 (England and Wales) REGISTERED CHARITY NUMBER: 1172625
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2020
for
Love Your Community
Avalon Accounting Limited 12 Park Lane Tilehurst Reading Berkshire RG31 5DL
Love Your Community
Contents of the Financial Statements for the Year Ended 31 July 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | to | 4 |
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
Love Your Community
Report of the Trustees
for the Year Ended 31 July 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2020. The trustees have adopted the provisions of 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
09683130 (England and Wales)
Registered Charity number
1172625
Registered office
St Birinus House Langley Hill Calcot Reading Berkshire RG31 4QX
Trustees
Mr Graham Hedley Bates Mr Gary James Bowden Ms Jillian Wells Mr Gareth Charles Garnett Owen
Company Secretary
Ms. Jill Wells
Approved by order of the board of trustees on ............................................. and signed on its behalf by: 22/03/2021
.......................................................................... Mr Gareth Charles Garnett Owen - Trustee
Page 1
Love Your Community
Statement of Financial Activities
for the Year Ended 31 July 2020
| 2020 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Other trading activities 2 113,779 Investment income 3 29 Other income 4,656 Total 118,464 EXPENDITURE ON Raising funds 4 82,708 Other 7,709 Total 90,417 NET INCOME 28,047 RECONCILIATION OF FUNDS Total funds brought forward 10,655 TOTAL FUNDS CARRIED FORWARD 38,702 |
2019 Total funds £ 102,901 23 337 103,261 81,344 8,754 90,098 13,163 (2,508) 10,655 |
|---|---|
The notes form part of these financial statements
Page 2
Love Your Community
Balance Sheet
31 July 2020
| 2020 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 359 CURRENT ASSETS Cash at bank and in hand 39,808 CREDITORS Amounts falling due within one year 10 (1,465) NET CURRENT ASSETS 38,343 TOTAL ASSETS LESS CURRENT LIABILITIES 38,702 NET ASSETS 38,702 FUNDS 11 Unrestricted funds 38,702 TOTAL FUNDS 38,702 |
2019 Total funds £ - 35,668 (25,013) 10,655 10,655 10,655 10,655 10,655 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 3
Love Your Community
Balance Sheet - continued 31 July 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. 22/03/2021 and were signed on its behalf by:
.............................................
Mr Gareth Charles Garnett Owen - Trustee
The notes form part of these financial statements
Page 4
Love Your Community
Notes to the Financial Statements for the Year Ended 31 July 2020
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance
TAXATION
The charity is exempt from corporation tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 5
continued...
Love Your Community
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
| 2. OTHER TRADING ACTIVITIES Fees received Uniform, trips fee etc. Utilies from RCC Early Years Pupil Premium DVD Income 3. INVESTMENT INCOME Deposit account interest 4. RAISING FUNDS RAISING DONATIONS AND LEGACIES Other operating leases Uniform, trip fee etc. Early Years Pupil Premium - Expenses Support costs 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Other operating leases |
2020 £ 110,890 1,174 1,215 400 100 113,779 2020 £ 29 2020 £ 6,163 4,031 655 (2,500) 8,349 2020 £ 120 6,163 |
2019 £ 100,369 2,532 - - - |
2019 £ 100,369 2,532 - - - |
|---|---|---|---|
| 102,901 | |||
| 2019 £ 23 2019 £ 18,000 3,010 - - |
|||
| 21,010 | |||
| 2019 £ - 18,000 |
Page 6
continued...
Love Your Community
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2020 nor for the year ended 31 July 2019.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 July 2020 nor for the year ended 31 July 2019.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
8.
| Trustees & Employees No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Other trading activities Investment income Other income Total EXPENDITURE ON Raising funds Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2020 2019 8 7 Unrestricted fund £ 102,901 23 337 103,261 81,344 8,754 90,098 13,163 (2,508) 10,655 |
|---|---|
continued...
Page 7
Love Your Community
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
9. TANGIBLE FIXED ASSETS
| COST Additions DEPRECIATION Charge for year NET BOOK VALUE At 31 July 2020 At 31 July 2019 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Pensions liability Other creditors Accrued expenses MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.8.19 £ 10,655 10,655 Incoming resources £ 118,464 118,464 |
Computer equipment £ 479 120 359 - 2020 2019 £ £ (798) 1,014 319 365 - 202 1,944 23,432 1,465 25,013 Net movement At in funds 31.7.20 £ £ 28,047 38,702 28,047 38,702 Resources Movement expended in funds £ £ (90,417) 28,047 (90,417) 28,047 |
|---|---|---|
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
11. MOVEMENT IN FUNDS
continued...
Page 8
Love Your Community
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.8.18 £ Unrestricted funds General fund (2,508) TOTAL FUNDS (2,508) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 103,261 TOTAL FUNDS 103,261 A current year 12 months and prior year 12 months combined position is as follows: At 1.8.18 £ Unrestricted funds General fund (2,508) TOTAL FUNDS (2,508) |
Net movement At in funds 31.7.19 £ £ 13,163 10,655 13,163 10,655 Resources Movement expended in funds £ £ (90,098) 13,163 (90,098) 13,163 Net movement At in funds 31.7.20 £ £ 41,210 38,702 41,210 38,702 |
Net movement At in funds 31.7.19 £ £ 13,163 10,655 13,163 10,655 Resources Movement expended in funds £ £ (90,098) 13,163 (90,098) 13,163 Net movement At in funds 31.7.20 £ £ 41,210 38,702 41,210 38,702 |
Net movement At in funds 31.7.19 £ £ 13,163 10,655 13,163 10,655 Resources Movement expended in funds £ £ (90,098) 13,163 (90,098) 13,163 Net movement At in funds 31.7.20 £ £ 41,210 38,702 41,210 38,702 |
|---|---|---|---|
| 13,163 | |||
| At 31.7.20 £ 38,702 38,702 |
|||
| 38,702 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 221,725 221,725 |
Resources Movement expended in funds £ £ (180,515) 41,210 (180,515) 41,210 |
Resources Movement expended in funds £ £ (180,515) 41,210 (180,515) 41,210 |
|---|---|---|---|
| 41,210 |
continued...
Page 9
Love Your Community
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2020.
Page 10
Love Your Community
| INCOME AND ENDOWMENTS Other trading activities Fees received Uniform, trips fee etc. Utilies from RCC Early Years Pupil Premium DVD Income Investment income Deposit account interest Other income Insurance Receipts SMP recovered Total incoming resources EXPENDITURE Raising donations and legacies Other operating leases Uniform, trip fee etc. Early Years Pupil Premium - Expenses Other trading activities Wages Social security Pensions Support costs Management Insurance Light and heat Telephone Postage and stationery Carried forward |
Detailed Statement of Financial Activities for the Year Ended 31 July 2020 |
2020 £ 110,890 1,174 1,215 400 100 113,779 29 - 4,656 4,656 118,464 6,163 4,031 655 10,849 72,361 363 1,558 74,282 740 1,632 351 1,554 4,277 |
2019 £ 100,369 2,532 - - - |
|---|---|---|---|
| 102,901 23 337 - |
|||
| 337 | |||
| 103,261 18,000 3,010 - |
|||
| 21,010 59,445 - 889 |
|||
| 60,334 623 1,814 397 598 3,432 |
This page does not form part of the statutory financial statements
Page 11
Love Your Community
| Management Brought forward Advertising Sundries Cleaning Subscription Council Tax Repairs and renewals Finance Bank charges Information technology Software licences Other Staff training and welfare Equipment Governance costs Accountancy fees Management fees Other legal & professional fee Bookkeeping fess Computer equipment Total resources expended Net income |
Detailed Statement of Financial Activities for the Year Ended 31 July 2020 |
2020 £ 4,277 368 40 - - - 1,260 5,945 157 501 230 - 230 756 (2,500) - 77 120 (1,547) 90,417 28,047 |
2019 £ 3,432 584 34 290 112 390 960 |
|---|---|---|---|
| 5,802 226 439 685 12 |
|||
| 697 776 - 814 - - |
|||
| 1,590 | |||
| 90,098 | |||
| 13,163 |
This page does not form part of the statutory financial statements
Page 12