REGISTERED CHARITY NUMBER: 1175459
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
for
Kirklands (Menston) Trust
Hollings Crowe Storr LLP 14 Beech Hill Otley West Yorkshire LS21 3AX
Kirklands (Menston) Trust
Contents of the Financial Statements for the Year Ended 31 March 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 13 |
| Detailed Statement of Financial Activities | 14 |
Kirklands (Menston) Trust
Report of the Trustees for the Year Ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
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.
The trust manages Kirklands as a tenant to CBMDC, overseeing public hall, community centre, children's day care & pre school, bowling club, library services, public conveniences and permitted commercial activity.
At all times,Trustees have had due regard to the Charity Commission guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trust has converted the bulk of its cash resources into its approved programme of buildings improvement & maintenance.The main Hall and toilets have been totally refurbished and hosted a pop-up shop run by the Co-op as a result of the closure of the village Co-op due to flooding.Following the end of this arrangement,the rooms occupied by the Co-op have been fully refreshed and are available for community uses again. Kirklands is a bright,welcoming facility and increasingly well-used.
Sadly,Peter Finlay,our Chairman,died in February - a huge loss to the Trust and to the whole village. During his illness the Trust has been led by Ed Brundle who will now take the Chair.The Trustees wish to express thanks to Tessa Tye for her service and enthusiasm as a Trustee, and to Catriona Hanson for clerking our Trust meetings so diligently.
The Trustees thank the Manager and her staff for their loyal, efficient and imaginative implementation of the business plan and for making Kirklands a pleasure to visit.
FINANCIAL REVIEW
Financial position
Operating surplus: £300,061 Closing cash: £57,685
On professional advice,the Trust has a policy of maintaining a minimum of three months revenue expenses in cash.
Investment policy and objectives
Investment in the fabric of Kirklands is a priority,in order to create and maintain an asset of real quality and lasting benefit to the community.
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Kirklands (Menston) Trust
Report of the Trustees for the Year Ended 31 March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
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 foundation model constitution. The Trust is governed by a board of up to 11 Trustees (including two nominated 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
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1175459
Principal address
Kirklands (Menston) Trust 16 Main Street Menston LS29 6HT
Trustees
D Smith E J Brundle J Gadd C Thornton R Wightman F Ugboma N Dunn P H Griffin N R McMorn D M Aldred P Finlay (resigned 28.2.22) T Tye (resigned 31.7.21)
Independent Examiner
Anthony Bradbury Hollings Crowe Storr LLP 14 Beech Hill Otley West Yorkshire LS21 3AX
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Kirklands (Menston) Trust
for the Year Ended 31 March 2022
Report of the Trustees
Approved by order of the board of trustees on 19 October 2022 and signed on its behalf by:
E J Brundle - Trustee
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Independent Examiner's Report to the Trustees of Kirklands (Menston) Trust
Independent examiner's report to the trustees of Kirklands (Menston) Trust
I report to the charity trustees on my examination of the accounts of Kirklands (Menston) Trust (the Trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Act and in carrying out my examination I have followed all 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts 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 Hollings Crowe Storr LLP 14 Beech Hill Otley West Yorkshire LS21 3AX
19 October 2022
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Kirklands (Menston) Trust
Statement of Financial Activities for the Year Ended 31 March 2022
| 31.3.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 75,302 Other trading activities 2 97,302 Other income 4,000 Total 176,604 EXPENDITURE ON Charitable activities General 84,621 NET INCOME 91,983 RECONCILIATION OF FUNDS Total funds brought forward 208,078 TOTAL FUNDS CARRIED FORWARD 300,061 |
31.3.21 Total funds £ 103,749 32,541 4,000 140,290 81,828 58,462 149,616 208,078 |
|---|---|
The notes form part of these financial statements
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Kirklands (Menston) Trust
Balance Sheet 31 March 2022
| 31.3.22 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 245,858 CURRENT ASSETS Debtors 7 10,019 Cash at bank 57,685 67,704 CREDITORS Amounts falling due within one year 8 (13,501) NET CURRENT ASSETS 54,203 TOTAL ASSETS LESS CURRENT LIABILITIES 300,061 NET ASSETS 300,061 FUNDS 9 Unrestricted funds 300,061 TOTAL FUNDS 300,061 |
31.3.21 Total funds £ 121,533 10,090 79,024 89,114 (2,569) 86,545 208,078 208,078 208,078 208,078 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19 October 2022 and were signed on its behalf by:
E J Brundle - Trustee
R Wightman - Trustee
The notes form part of these financial statements
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Kirklands (Menston) Trust
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
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.
Expenditure
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.
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Kirklands (Menston) Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES - continued
Expenditure
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 fixed 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.
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 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 Fixtures and fittings - 4% straight line
Taxation
The charity is exempt from 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 charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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Kirklands (Menston) Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES - continued
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.
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.
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Kirklands (Menston) Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
2. OTHER TRADING ACTIVITIES
| Room hire Sundry income |
31.3.22 £ 95,228 2,074 97,302 |
31.3.21 £ 14,469 18,072 32,541 |
|---|---|---|
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
4. STAFF COSTS
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 35,149 | 34,723 |
| Employer contribution to pension plans | 172 | 202 |
| 35,321 | 34,925 | |
The average head count of employees during the year was 4 (2021:3)
No employee received employee benefits of more than £60,000 during the year (2021: Nil)
5. INDEPENDENT EXAMINATION FEES
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for independent examination of the financial statements |
672 | 655 |
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Kirklands (Menston) Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
6. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 April 2021 134,428 Additions 124,313 At 31 March 2022 258,741 DEPRECIATION At 1 April 2021 12,895 Charge for year 8,054 At 31 March 2022 20,949 NET BOOK VALUE At 31 March 2022 237,792 At 31 March 2021 121,533 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 9. MOVEMENT IN FUNDS At 1.4.21 £ Unrestricted funds General fund 208,078 TOTAL FUNDS 208,078 |
Fixtures and fittings £ - 8,280 8,280 - 214 214 8,066 - 31.3.22 £ 10,019 31.3.22 £ 6,734 6,767 13,501 Net movement in funds £ 91,983 91,983 |
Totals £ 134,428 132,593 267,021 12,895 8,268 21,163 245,858 121,533 31.3.21 £ 10,090 31.3.21 £ 335 2,234 2,569 At 31.3.22 £ 300,061 300,061 |
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Kirklands (Menston) Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 176,604 (84,621) TOTAL FUNDS 176,604 (84,621) Comparatives for movement in funds Net movement At 1.4.20 in funds £ £ Unrestricted funds General fund 149,616 58,462 TOTAL FUNDS 149,616 58,462 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 140,290 (81,828) TOTAL FUNDS 140,290 (81,828) |
Movement in funds £ 91,983 91,983 At 31.3.21 £ 208,078 208,078 Movement in funds £ 58,462 58,462 |
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Kirklands (Menston) Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
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