2021-03-31-accounts

CHARITY REGISTRATION NUMBER: 1175459

Kirklands (Menston) Trust Unaudited Financial Statements

31 March 2021

HOLLINGS CROWE STORR LLP

Accountants 14 Beech Hill Otley West Yorkshire LS21 3AX

Kirklands (Menston) Trust

Financial Statements

Year ended 31 March 2021

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	4
Statement of financial activities	5
Statement of financial position	6
Notes to the financial statements	7
The following pages do not form part of the financial statements
Detailed statement of financial activities	15

Kirklands (Menston) Trust

Trustees' Annual Report

Year ended 31 March 2021

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

Reference and administrative details

Registered charity name Kirklands (Menston) Trust Charity registration number 1175459 Principal office 119 Main Street Menston Ilkley LS29 6HT The trustees Mr F Ugboma (Appointed 15 October 2020) Mrs N Dunn (Appointed 15 October 2020) Mr P Griffin (Appointed 15 October 2020) Mrs N McMorn (Appointed 19 November 2020) Mrs T Tye (Appointed 15 October 2020) Mr M Aldred (Appointed 17 December 2020) Mr P Finlay Mr D I Watson (Resigned 31 October 2020) Mr D Smith Mr W Q C Mackenzie (Resigned 31 October 2020) Mr E Brundle Mr J Gadd Ms C Thornton Mr R Wightman Independent examiner Anthony Bradbury 14 Beech Hill Otley West Yorkshire LS21 3AX

Structure, governance and management

Kirklands (Menston) Trust was established in October 2017 as a Charitable Incorporated Organisation to manage Kirklands Community Centre. In accordance with the Charities Act 2011 it has adopted a Charities Commission model constitution. The Trust is governed by a board of 10 Trustees made up of individuals from the local community. The Parish Council and the Menston Community Association have nominated representatives. There is a Chair and a Finance Sub Committee which oversees the finances and risk management for the organisation. Trustees meet monthly and make decisions in accordance with the constitution. There are two part time members of paid staff who run the day to day operations of the building, a Centre Manager and building custodian. The Centre Manager reports to the Chair of the Trustees and attends all trustees meetings.

1

Kirklands (Menston) Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

Objectives and activities

To further or benefit the residents of Menston, West Yorkshire and the neighbourhood by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with objective of improving the conditions of life for the residents.

In furtherance of these objects the Trust has become the tenant of a lease signed in December 2018 in which Bradford Metropolitan District Council granted beneficial occupancy of Kirklands Community Centre to the Trust for 99 years. The main activities of the Trust are the management and Development of the Centre in the following uses: Public Hall Community Centre Children's day care and pre-school Bowling Club Library services Public Conveniences Permitted commercial activity

At all times,Trustees have had due regard to the Charity Commission guidance on public benefit.

Achievements and performance

This, the third,year of the Trust's life, has been totally overshadowed by effects of the Covid Pandemic and the consequent governmental response to protect public health. Like all other similar public facilities, the Trust's premises have been closed to the Public for over half of the year (with the exception of the pre-school activity). Despite this, generous grant-aid and furlough arrangements for Staff (funded by Menston Parish Council and Her Majesty's Government via Bradford Council) have, together with careful cost-management by the Manager,enabled the Trust to remain liquid,solvent and profitable. The Trust has used its cash resources during this period of relative inactivity in two principal ways:- 1. to continue its Buildings Maintenance and Improvement programmes by committing to invest over £40,000 in the estate,including £20,000 for one energy-saving project 2. to offer periods of greatly reduced rentals to our long-term tenants in order to protect the long-term viability of their businesses.

This period has also been used to refresh the membership of the Trust. Two Trustees have retired, but the membership has increased by the appointment of six new Trustees with a good variety of experience and skills (and also blest with the gift of youth).

Financial review

On professional advice, the Trust aims to maintain a minimum of three months' revenue expenses in cash.

2

Kirklands (Menston) Trust

Trustees' Annual Report (continued)

Year ended 31 March 2021

The trustees' annual report was approved on 30 July 2021 and signed on behalf of the board of trustees by:

Mr P Finlay Mr E Brundle Trustee Trustee

Mr R Wightman Trustee

3

Kirklands (Menston) Trust

Independent Examiner's Report to the Trustees of Kirklands (Menston) Trust

Year ended 31 March 2021

I report to the trustees on my examination of the financial statements of Kirklands (Menston) Trust ('the charity') for the year ended 31 March 2021.

Responsibilities and basis of report

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

I report in respect of my examination of the charity's financial statements 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 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:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Anthony Bradbury Independent Examiner 14 Beech Hill Otley West Yorkshire LS21 3AX

30 July 2021

4

Kirklands (Menston) Trust

Statement of Financial Activities

Year ended 31 March 2021

		2021	2021	2020
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	103,749	103,749	33,886
Other trading activities	5	32,541	32,541	89,999
Other income	6	4,000	4,000	4,000
				
Total income		140,290	140,290	127,885
				
Expenditure
Expenditure on charitable activities	7,8	81,828	81,828	86,853
				
Total expenditure		81,828	81,828	86,853
				
				
Net income and net movement in funds		58,462	58,462	41,032
				
Reconciliation of funds
Total funds brought forward		149,616	149,616	108,584
				
Total funds carried forward		208,078	208,078	149,616
				

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 7 to 13 form part of these financial statements.

5

Kirklands (Menston) Trust

Statement of Financial Position

31 March 2021

		2021	2020
	Note	£	£
Fixed assets
Tangible fixed assets	13	121,533	121,974
Current assets
Debtors	14	10,090	12,595
Cash at bank and in hand		79,024	17,265
			
		89,114	29,860
Creditors: amounts falling due within one year	15	2,569	2,218
			
Net current assets		86,545	27,642
			
Total assets less current liabilities		208,078	149,616
			
Net assets		208,078	149,616
			
Funds of the charity
Unrestricted funds		208,078	149,616
			
Total charity funds	16	208,078 	149,616 

These financial statements were approved by the board of trustees and authorised for issue on 30 July 2021, and are signed on behalf of the board by:

Mr P Finlay Trustee

Mr E Brundle Trustee

Mr R Wightman Trustee

The notes on pages 7 to 13 form part of these financial statements.

6

Kirklands (Menston) Trust

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 16 Main Street, Menston, Ilkley, LS29 6HT.

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 Charities Act 2011.

3. 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

No cash flow statement has been presented for the company.

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.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

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.

7

Kirklands (Menston) Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Incoming resources

All incoming resources are 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:

• 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.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

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, noncharitable 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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

8

Kirklands (Menston) Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

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:

Freehold property

• 4% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the charity 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.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

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.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

9

Notes to the Financial Statements (continued)

Kirklands (Menston) Trust

Year ended 31 March 2021

3. Accounting policies (continued)

Financial instruments (continued)

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.

4. Donations and legacies

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Grants
	Grants receivable	103,749	103,749	33,886	33,886
					
5.	Other trading activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Room hire and event income	14,469	14,469	79,548	79,548
	Sundry income	18,072	18,072	10,451	10,451
					
		32,541	32,541	89,999	89,999
					
6.	Other income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Ground rent	4,000	4,000	4,000	4,000
					
7.	Expenditure on charitable activities	by fund type
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Employment costs	34,925	34,925	33,194	33,194
	Establishment costs	28,035	28,035	32,469	32,469
	Office expenses	3,732	3,732	8,667	8,667
	Support costs	15,136	15,136	12,523	12,523
					
		81,828	81,828	86,853	86,853
					

10

Kirklands (Menston) Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

8. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly	Support costs	2021	2020
	£	£	£	£
Employment costs	34,925	–	34,925	33,382
Establishment costs	28,035	–	28,035	32,469
Office expenses	3,732	–	3,732	8,667
Accountancy and payroll fees	–	1,489	1,489	1,301
Legal and professional costs	–	8,387	8,387	6,863
Depreciation	–	5,260	5,260	4,171
				
	66,692	15,136	81,828	86,853
				

9. Net income

Net income is stated after charging/(crediting):

	Net income is stated after charging/(crediting):
		2021	2020
		£	£
	Depreciation of tangible fixed assets	5,260	4,171
			
10.	Independent examination fees
		2021	2020
		£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements	655	636
			

11. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as	The total staff costs and employee benefits for the reporting period are analysed as	follows:
	2021	2020
	£	£
Wages and salaries	34,723	32,950
Employer contributions to pension plans	202	244
		
	34,925	33,194
		

The average head count of employees during the year was 3 (2020: 3).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

12. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

11

Notes to the Financial Statements (continued)

Kirklands (Menston) Trust

Year ended 31 March 2021

13. Tangible fixed assets

			Freehold
			property
			£
	Cost
	At 1 April 2020		129,609
	Additions		4,819
			
	At 31 March 2021		134,428
			
	Depreciation
	At 1 April 2020		7,635
	Charge for the year		5,260
			
	At 31 March 2021		12,895
			
	Carrying amount
	At 31 March 2021		121,533
			
	At 31 March 2020		121,974
			
14.	Debtors
		2021	2020
		£	£
	Trade debtors	10,090	12,595
			
15.	Creditors: amounts falling due within one year
		2021	2020
		£	£
	Trade creditors	335	467
	Accruals and deferred income	1,606	1,736
	Social security and other taxes	613	–
	Other creditors	15	15
			
		2,569	2,218
			

12

Kirklands (Menston) Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2021

16. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
					At
		At		31	March 202
	1	April 2020	Income	Expenditure	1
		£	£	£	£
General funds		149,616	140,290	(81,828)	208,078
					
					At
		At		31	March 202
	1	April 2019	Income	Expenditure	0
		£	£	£	£
General funds		108,584	127,885	(86,853)	149,616
					

13

Kirklands (Menston) Trust

Year ended 31 March 2021

Management Information

The following pages do not form part of the financial statements.

14

Kirklands (Menston) Trust

Detailed Statement of Financial Activities

Year ended 31 March 2021

	2021	2020
	£	£
Income and endowments
Donations and legacies
Grants receivable	103,749	33,886
		
Other trading activities
Room hire and event income	14,469	79,548
Sundry income	18,072	10,451
		
	32,541	89,999
		
Other income
Ground rent	4,000	4,000
		
		
Total income	140,290	127,885
		
Expenditure
Expenditure on charitable activities
Wages and salaries	34,723	32,950
Pension costs	202	244
Rates and water	2,570	6,016
Light and heat	8,568	13,142
Repairs and maintenance	16,897	13,311
Insurance	1,917	2,023
Other establishment	862	5,518
Legal and professional fees	3,289	3,324
Telephone	596	577
Other office costs	6,109	4,449
Depreciation	5,260	4,171
Printing stationery and advertising	835	1,128
		
	81,828	86,853
		
		
Total expenditure	81,828	86,853
		
		
Net income	58,462	41,032
		

15