VICTORIA INSTITUTE ARUNDEL
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
Registered Company Number 08865107 (England and Wales) Registered Charity Number: 1173028
VICTORIA INSTITUTE ARUNDEL
Contents
| Page | |
|---|---|
| Report of the Trustees | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5-7 |
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VICTORIA INSTITUTE ARUNDEL
Report of the Trustees for the Year Ended 31st March 2023
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 31st March 2023. 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 nd Republic of Ireland (FRS 102) (effective 1st January 2015).
INCORPORATION
The charitable company was incorporated on 28[th] January 2014.
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. The company was registered as a charity with the Charity Commissioners on 12[th] May 2017.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 08865107 (England and Wales)
Registered Charity number
1173028
Registered Office
Milroy House Sayers Lane Tenterden Kent TN30 6BW
Trustees
W.R. Brennan Dr. R.P. Howells Dr. J.M.Hextall K.B. Moorhouse W.M. Eve J. Paton W.O. Hall Dr. P.A. Smith
Approved by order of the board of trustees on 25[th] August 2023 and signed on its behalf by:
J.Paton Chairman Trustees
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VICTORIA INSTITUTE ARUNDEL
Income and Expenditure Account for the year ended 31st March 2023
| 2023 | 2023 | 2022 | 2022 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Unrestricted | Restricted | ||
| Fund | Fund | Fund | Fund | ||
| Notes | £ | £ | £ | £ | |
| Income and endowments from | |||||
| Donations and legacies | - | 5,118 | - | 23,771 | |
| Other income | - | - | - | - | |
| -------- | --------- | --------- | -------- | ||
| - | 5,118 | - | 23,771 | ||
| Incoming resources from | |||||
| charitable activities | |||||
| Property Income | 19,158 | - | 18,134 | - | |
| Bar Income | 5,203 | - | 1,895 | - | |
| --------- | --------- | ---------- | -------- | ||
| 24,361 | 5,118 | 20,029 |
23,771 | ||
| --------- | --------- | ---------- | -------- | ||
| Expenditure on | |||||
| Charitable activities | 23,036 | 3,853 | 17,055 | 36,805 | |
| Support costs | 2,124 | - | 1,200 | - | |
| Other costs | 569 | - | 716 | - | |
| --------- | --------- | ---------- | -------- | ||
| 25,729 | 3,853 | 18,971 | 36,805 | ||
| --------- | --------- | ---------- | -------- | ||
| Net (Expenditure)/Income | |||||
| Reconciliation of funds | (1,368) | 1,265 | 1,058 | (13,034) | |
| Total funds brought forward | 8,534 | (671) | 7,476 | 12,363 | |
| --------- | --------- | ---------- | -------- | ||
| Total funds carried forward | 7,166 | 594 | 8,534 | (671) | |
| ===== | ===== | ===== | ===== |
Continuing operations
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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VICTORIA INSTITUTE ARUNDEL
Balance Sheet as at 31[st] March 2023
| Company Number: 08865107 | |||
|---|---|---|---|
| Notes | 2023 | 2022 | |
| £ | £ | ||
| Fixed Assets | |||
| Tangible | 5 | 1,578 | 976 |
| --------- | --------- | ||
| Current Assets | |||
| Debtors | 6 |
- | - |
| Cash at bank | 6,395 | 7,100 | |
| --------- | ---------- | ||
| 6,395 | 7,100 | ||
| Creditors:amounts falling due | |||
| within one year | 7 | (213) | (213) |
| --------- | ---------- | ||
| Net Current Assets | 6,182 | 6,887 | |
| --------- | ---------- | ||
| Total Assets Less | |||
| Current Liabilities | 7,760 | 7,863 | |
| Creditors:amounts falling due | |||
| in more than one year | ( - ) | ( - ) | |
| --------- | --------- | ||
| Net Assets | 7,760 | 7,863 | |
| ===== | ===== | ||
| Funds | 8 | ||
| Unrestricted funds | 7,166 | 8,534 | |
| Restricted funds | 594 | (671) | |
| --------- | ---------- | ||
| Total Funds | 7,760 | 7,863 | |
| ===== | ===== |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31[st] March 2023.
The members have not required the charitable company to obtain an audit of financial statements for the year ended 31[st] March 2023 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.
Those financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Board of Trustees on 25[th] August 2023 and were signed on its behalf by:
- J.Paton – Chairman Trustees
The notes form part of these financial statements
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VICTORIA INSTITUTE ARUNDEL
Notes to the Financial Statements for the year ended 31[st] March 2023
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[st] January 2015)’. 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.
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
2. Raising funds
| Raising donations and legacies | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Support costs | - | - |
| ==== | ==== |
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VICTORIA INSTITUTE ARUNDEL
Notes to the Accounts for the year ended 31[st] March 2023
3. Net Income/(Expenditure)
Net income/(expenditure) is stated after charging/(crediting):
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Depreciation – owned assets | 526 | 301 |
| ==== | ==== |
4. Trustees’ Remuneration and Benefits
There were no trustees’ remuneration or other benefits for the year ended 31[st] March 2023.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31[st] March 2023.
5. Tangible Fixed Assets
| Tangible Fixed Assets | |
|---|---|
| Fixtures and | |
| Fittings | |
| £ | |
| Cost | |
| At 1stApril 2022 | 5,939 |
| Additions | 1,128 |
| Disposals | - |
| -------- | |
| At 31stMarch 2023 | 7,067 |
| --------- | |
| Depreciation | |
| At 1stApril 2022 | 4,963 |
| Charge for year | 526 |
| --------- | |
| At 31stMarch 2023 | 5,489 |
| --------- | |
| Net Book Value | |
| At 31stMarch 2023 | 1,578 |
| ===== | |
| At 31stMarch 2022 | 976 |
| ===== |
6. Debtors: Amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Other debtors | - | - |
| ==== | ==== |
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VICTORIA INSTITUTE ARUNDEL
Notes to the Accounts for the year ended 31[st] March 2023
| 7. | Creditors: Amounts falling due within one year | Creditors: Amounts falling due within one year | ||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Grant monies in advance | - | - | ||
| Accruals and other creditors | 213 | 213 | ||
| ------ | ---------- | |||
| 213 | 213 | |||
| ==== | ===== | |||
| 8. | Movement in Funds | |||
| Net movement | ||||
| At 01.04.22 | in funds | At 31.03.23 | ||
| £ | £ | £ | ||
| Restricted funds | ||||
| General fund | (671) | 1,265 | 594 | |
| Unrestricted funds | ||||
| General fund | 8,534 | (1,368) | 7,166 | |
| ---------- | -------- | ---------- | ||
| Total Funds | 7,863 | (103) | 7,760 | |
| ====== | ===== | ===== | ||
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Restricted funds | ||||
| General fund | 5,118 | (3,853) | 1,265 | |
| Unrestricted funds | ||||
| General fund | 24,361 | (25,729) | (1,368) | |
| ---------- | ---------- | ---------- | ||
| Total Funds | 29,479 | (29,582) | (103) | |
| ====== | ====== | ===== |
9. Related Party Disclosures
There were no related party transactions for the year 31[st] March 2023.
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VICTORIA INSTITUTE ARUNDEL INCOME AND EXPENDITURE ACCOUNT
| Income and Endowments | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Donations and legacies | ||
| Donations and fundraising | 5,118 | 23,771 |
| Charitable activities | ||
| Property Income | 19,158 | 18,134 |
| Bar Income | 5,203 | 1,895 |
| --------- | ---------- | |
| 29,479 | 43,800 | |
| --------- | ---------- | |
| Other income – tax write back | - | - |
| ---------- | ---------- | |
| Total incoming resources | 29,479 | 43,800 |
| ---------- | ---------- | |
| Expenditure | ||
| Charitable activites | ||
| Bar Stock | 2,799 | 820 |
| Funding payments | 3,853 | 36,805 |
| Other | ||
| Entertainment | - | - |
| Advertising | - | - |
| --------- | --------- | |
| 6,652 | 37,625 | |
| --------- | --------- | |
| Support costs | ||
| Equipment | 2,183 | - |
| Management | 2,124 | 1,200 |
| Rates,light and heat | 2,799 | 2,517 |
| Printing and stationery | 70 | - |
| Telephone and internet | 296 | 503 |
| Repairs and renewals | 6,970 | 6,040 |
| Insurance | 3,294 | 2,560 |
| Refreshments | - | 200 |
| Subscriptions and licenses | 1,258 | 1,123 |
| Accountancy | 273 | 213 |
| Depreciation | 526 | 301 |
| Marketing and advertising | 3,137 | 3,494 |
| --------- | --------- | |
| 22,930 | 18,151 | |
| --------- | ---------- | |
| Total resources expended | 29,582 | 55,776 |
| --------- | ---------- | |
| Net (expenditure)/income | (103) | (11,976) |
| ===== | ===== |
This page does not form part of the statutory accounts
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