Company registratN)n number.. 10992192 Charty registration number". 1176851 Bishops Hull Hub Limited {A company limited by Sha caprfal} Annual Rewt and Financhql Statemenls for the Year Ended 31 October 2021 *A894QllZT' 2710712022 CCthIPANIES FIOUSE A03
Bishops Hull Hub Limited Contents strateg Report 1to2 Trustees Report 3to4 Refereft and Administrative Details statement of Trustees. Responsibilities Independent Examinerf5 Report Statement of Financial ActiVitS 7108 Balance Sheet gto10 Note5 to the FinancA21 Ststements 11to22
Bishops Hull Hub Limited Strategic Report for the Year Ended 31 October 2021 The tnjstees, who are directors for the pury>oses of company law, present their Strateg repjrt for the year ended 31 October 2021, in compliance wth s414C of the Companie5 Acl 2006. Achievements and perfornmnce During the year to 31 October 2021 the chanty has, the aKI of a team of volunteers. sueeessfulty completed the constructK)n and opened the Mmunity vilLage facility, The Bishops Hull Hub. The facilty has started ¥Jse wrth numerous regular aclNtbes providing the local Sidents vAth a large diversity of social and health promots.ng activths. The faTr"lty is aLw used regularfy for personal event5 and celebrations. The Bishops Hull Hub team has eonlinved to host a range of fvndratsing events, including regular themed coffee momings. wine tasting and qurz evenings. The fundraising committee have continued lo promole the "buy a brick" scheme and encourage community support and the ¢har'ty continues to be indebted for the b.me and effort they have given to the project. to help iaise awareness of the charity and it's aims. During the year the Chanty has SLrcessfully constructed the infrastruclure wth the support of grant funding ouuined in the previous yearfs report During operalK)n, the ¢harty has created a healthy and eonsistenl eashflow and revenue stream to allow all costs and loan payments to be mel. Financlal review During the period the charty received donations of £15.622 {2020'. £5,434) and raised funds of £11, 108 (2020.. £6.909) from ITading and actiVitS. The company was also awarded a tolal of £49,811 12020.. £428,197} in grants. which had all been received by the year end. Expenditure durin9 the year included £656 12020.. £848} fundraising costs, £1,548 costs of trading income (2020.. £Nill and £17,61012020." £3,566) general expenses. In additson a grant of £1,200 was given to the Bishop's Hull Short Mat B0S Club for Ihe purchase of equipment A lolal of £276,497 12020.. £271,146) was spent on planning and professKJnal fees and construction costs in respect of the build and have ten included in fixed assets as addIt#S to land and buildings. Policy on reserves The trustees airn lo maintain free cash reserves in unrestricted funds at a level lch equales lo approximately e1ve months of the minimum required expenditure to maintsin the HUB without generating funds Irom ils normal ¢hanlable a¢tivity"es over the tree month pencJ. Totsl ongoing expenses amount to approximately £10.749 per year. the trustees consider that Ihis level of funds will provide sufficient fvnds to respond to any unforeseen circumstances fesulting in full dosure of the facility. The balance held as TeStred funds at 31 O¢tober 2021 was £523,642. of bthicti £13,379 are regarded as free cash reserves, after allowing for funds bed up in langible fixed assets. The current level of reseNes is therefore hher than is needed. This policy viill be reviewed on an annual basis. Page 1
Bishops Hull Hub Limited Strategic Report for the Year Ended 31 October 2021 Plans for future periods Aims and key objectives lor future periods The charity wholly achieved ils aims of the lasl period to secure the funding and complete construction of the community faulity and carpark by April 2021. The management committee now run the facility on a voluntary basB wth a pa cleaner. The objective for the forthcoming periryj is to cont.nue to promote and utilize the facility Io tts maximum to provide a safe, clean. and secure fxility for the community to use. The team also looks to increase the comrnunity engagement evenl$ and fundraising a¢tNities held followng a break during eovid 19 pandemic. These activib'es will strengthen the community and also boost the fvnds of the charity for running costs and repayment of thns. The strategi¢ report was approved by the trustees of the chanty on . behalf by.. d signed on its Trustee Page 2
Bishops Hull Hub Limited Trustees Report The Iruslees, who are directors for the purposes of company law. present the annual report lryether with the financial statements of the charitable company for the year ended 31 October 2021. Objectives and activities Obj¢¢ts and aims The primary obiectNe for the ¢haritable company during the year was to secure the funds necessary lo construct the new facility as well as organising all relevant pLqnning and constructs.on requirements, including the appointrnent of a Building Contractor. The con5tructson was completed in April 2021. Objectives. strategies and activities Fundraising and appliCatn for gtsnts The primary obJ"ective of the charitable company during the year was lo raise the funds ne¢essary to complete constnjction of the new facility and fit r( out ready for opening to the public. sufflent funds were raised and the build completed during April 2021. Fundralslng disclosures In the year lo 31 October 2021 the Bishops Hull Hub continued to hold SUCSSfUl one-off fvndraising events an¢J monthty coffee momings following the openiNJ of the new Bishops Hull Hub. Public benefit The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard lo the public benefit guidance published by the Charity Commission lor England and Wa. Use of voluntee Othef than the emptymenl of a cner. the Bishops Hull Hub is njn entirety by volunteers. Structure. governance and management Nature of governing do¢um•nt The organisation was fomied under a constibjtion and became a Charitab company limtted by guarantee, incorporated on 3 October 2017 and registered as a ¢harity on 25 January 2018. The company was established under a Memorandum of AsslatiOn, whh established the.obiects and power of the charitable company and is govemed under its Arbcles of Association. In the event of the ompany being wound up, members are required to contribute an amount not exceedin9 £10. Recruftment and appointmentof trustees The trustees, who are also direeiors of the company. are listed on page 3. The articks of associats.on provide for the trustees to have the power Io co-opt new trustees to hold office until the next Annual General Meebng. The members may #PFnt new trustees by way of an ordinary resolutson at a general meeting. Page 3
Bishops Hull Hub Limited Trustees Report Reference and Administrative Details Trust¢os MrJLee Mr R HollarKI Mrs L Lee Mrs C Plumbty Mr M Chappell Mr S A Lawson Mr G J G Stsdler Mr J Lee, Chairman Senlor Management Team Principal Offl¢e Bishops Hull Hub Bishops Hull Hill Taunton TA1 5E8 Reglstered Office Ground Floor. Blackbrook Gate 1 Blackbrook Business Park Taunton TA12PX The charity is incorporated in England & Wales. Company Registration Number 10992192 Charity Registration Numb8r 1176851 Bankers TSB Bank PLC Taunton 34 North Street Taunton TA1 1LT L.?/..7.1.Z4r The annual report was approved by the trustees of the charity on .. behalf by: signed on rts MrJLee Trustee Page 4
Bishops Hull Hub Limited Statement of Trustees, Responsibilities The trustees {who are also the directors of Bishops Hull Hub Limited for the purposes of company law) are responsib lor preparing the Iruslees. rewrt and the financ1 ststement5 in accordance with the United Kingdom A¢¢ounling Standards (Unrted kn"ngdom Generally Accepted Accounting Practice} and applicable law and regulalions. Company law requires the trustees to prepare financial statements for each financial year. Under company law the Iruslees musl not approve the financial statements unless they are satisfied that they give a true and fair ¥W of the stsle of affairs of the chantable company and of ils incoming resources and applicatn of resources, induding rts income and experbditurè, for that Feriod. In preparing these financial stalemenls, the tnJslees are required to". $elecl suitable accounting policies and appty them consistenty., observe the methods and principles in the Charities SORP.. make judgements and esbmales that are reasonable and prudent state whether aPpIable UK Accounting Standards have been folk)wed. subject to any material departures dis¢losed and explained in the financial ststements," and prepare the financial 51atemenls on the going ¢on¢em basis unless rt is inappropriate to presume that the chantable company will continue in business. The trustees are responsible for keeping adequate accountsng records that are suffiaenl lo show and explain the charitable companWs transactions and discbse wrth reasonable accuracy at any lime the fi'nancial positjon of the eharrtable eompany and enable them lo ensure that the financial statements comply wrth the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable Company and hence for tsking reasonable steps for the preVentn and deteCtn of fraud and other irregulanties. Approved by the trustees of the chanty on ... nd sffjned on its behalf by". MrJ Lee Trustee Page 5
Bishops Hull Hub Limited Independent Examiner's Report to the trustees of Bishops Hull Hub Limited I report to the charity trustees on my examination of the aecounts of the charty for the year ended 31 October 2021 which are set out on pages 7 to 22. Respective responsibilities of trustees and examiner As the charity's trustees of Bishops Hull Hub Limited (and also its diwlors for the purpose$ of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the CoMpanS Act 2006 {'the 20( Acy). Having satisfied myself that the accounts of Bishops Hull Hub Limrted are not require(I to be audited under Part 16 of the 2006 Ael and are elgible for independent examination, I report in fespect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act'l. In carrying out my examinab.on I have fdlowed the Direetrjns grven ty the Charity Commission under section 14515}Ib} of the 2011 ACL Independent exarninevs statement I have completed my eXaminatn. I confimi that no matters have come to my attentn in connection with the examinats'on giving me cause to believe. 1. accounts'ng records were nol kept in respect of Bi$hop$ Hull Hub Limited as required by section 386 of the 2006 Act. or 2. the accounts do not accord wilh those records", or 3. the accounts do not compty with the accounting requirements of section 3% of the 2006 Act other than any requirernenl that the aeeounts gwe a 'true and fair view, which is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in accordance with the methods and principles of the statement of Recommended Prath"ce for aUnting and reporb.ng by char"e$ lapplicable to charities preparing their accounls in accordan with the Finanaal Reporbng Standard applitsble in the UK and Republic of Ireland {FRS 102)1. I have no concems and have come across no other matters in connectDn with the examinatbon lo which attention shoukl be drawn in this report in order to enatAe a proFer understsnding of the accounts lo be reached. Ms H Hayward ACCA Dale.. 18aJLY 2022 Page 6
Bishops Hull Hub Limited Statement of Financial Activities for the Year Ended 31 October 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2021 Restricted Note Incorne and Endowrnents from: Donations and legacies Other trading actwib'es 12,286 11,108 53.417 65.703 11,108 Total Income 23,394 53.417 76.811 Expenditure on: Raising funds Charitable acbvib'es Other expendilufe Total Expenditure (2.204) I1.2) 17,610 {2,204} {1,200} 17,610 21,014 21,014 Nel income Transfer5 ben funds 2.380 53,417 501.627 55,797 Net movement in funds 504,007 1448.2101 55.797 Roconciliation ol funds Total funds brought foMard 19,635 448,210 467,845 Totsl funds carried forward 15 523.642 523,642 Unrestri¢¢ed funds Restrlcted fund$ Total 2020 Note Income and Endowments from: Donations and legacies Other trading activitS Totsl income 5,434 6,909 428,197 433,631 6,909 12,343 428.197 440,540 Expenditur• on.. Raising funds Other expenditure {8481 1.711 {8481 1.855 Total expenditure Nel income 2.559 1.855 4,414 9,784 426,342 436.126 Nel movement in funds 9.784 426,342 436,126 Re¢on¢iliation of funds Totsl funds brought fon¥ard Total funds carried foNRrd 9.851 21.868 31,719 15 19.635 448.210 467,845 The notes on pages 11 to 22 form an inlegrJ part ofthese financial slatements. Page 7
Bishops Hull Hub Limited Statement of Financial Activities for the Year Ended 31 October 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) All of the ¢harity's actNities derive from eontinuing operatK*ns during the above two Per5. The notes on pages 1110 22 f(xm art iniegra part of these finwaal statements. Page 8
Bishops Hull Hub Limited (Registration number: 10992192) Balance Sheet as at 31 October 2021 2021 2020 Note Fixed assets Tangible assets 10 578,746 297.756 Current assets Debtors Cash at bank and in hand 11 12 3,013 13,379 112,410 109,522 16,392 221,932 Creditors: Amounts falling due within one year Not currenl assets 13 15,792 2,372 600 219,560 Totsl assets less current liabilities 579.346 517,316 Creditors- Arnounts falling due after more than one year 14 Nel ass•ts 55.704 49,471 523.642 467,845 Funds of the charlty: R8slri¢t¢d incomo funds Restricted fvnds 15 448,210 Unrestri¢ted income funds Unrestricted funds 523,642 523,642 19,635 Total funds 15 467,845 For the financial year ending 31 October 2021 the charity was entrtw to exempb'on from audit under section 477 of the Cornpanies Act 20(hS relating to small companies. Directors. responsibilities.. The directors have not required the ¢hanty to obtain an athjit of its accounts for the year in question in accordance wth secb'on 476., and The difeclors acknovAedge their responsibilities for comptying wth the requirements of the A¢t wth respect to accountin9 records and the preparation of accounts. These accounts have been prepared in accordance with the provisions appluble lo cnmpanies sufvt to the small companies regime. The notes on pages 11 to 22 form an integral part of tw finanrial slalements. Page 9
Bishops Hull Hub Limited (Registration number.. 10992192) Balance Sheet as at 31 October 2021 The financ I statements on pages 7 10 22 were approved by the trustees. and aulhorised for issue on MrJL Trustee The notes on pages 11 to 22 lom an integral part oflhese financk41 statements. Page 10
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 1 Charlty status Bishops Hull Hub Limited is a registered chanty and a company limited by guarantee v*ithout share capital incorporated in England & Wales. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidatn. The address of lis registered office is.. Ground Floor, Blackbrook Gate 1 Blackbrook Business Park Taunton TA12PX 2 Accounting pollcie8 Surnmary of slgnificanl accounting pollcies and key accountlng estimates The principal a¢¢ounling policies applied in the preparation of these financial statements are sel out below. These policies have been consistentty applied lo all the years presented. unless otherwise staled. Statement of compliance The financial statements have been prepared in accordance with Accounts"ng and Reportin9 by Charrties. Statement of Reeornmended Pracbce applicable lo eharilies preparing their accounts in accordance with the Financial Reports"ng Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2015} - (Charibes SORP IFRS 10211. the Financial Repoth'ng Standard applicable in Ihe UK and Republic of Ireland {FRS 102)- They also compty wrth the Companies kt 2006 and Charities Acl 2011. Basis of preparation Bishops Hull Hub Limited meets the definition of a public benefft enlty under FRS 102. Assets and liabilibes are initially recognised at historical cost or transath.on value unless olheThvise slated in the relevant aCuting Folicy notes. Going concern The trustees conshder that there are no material uncertainlS about the charity's ability to continue as a going concem nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Exemption from preparlng a cash flow slatement The charity opted to earfy adopt Bulletin 1 published on 2 February 2016 and have therefo not included a cash flow statement in these financial statements. Page11
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 Key sou¢$ of estimation uneertainty In the application of the charity's aOntIng pOIleS, management is required lo make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The ests"mates and undertying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may drffer from these estimates. The estimates and underlying assumpty.ons are reviewed on an ongoing basis. RevisKJns to accounting estimates a recognised in the pernd in whh the estimate is revised if the revision affects only that period, Of in the peric#J of the revision and future periods if the revision affects both current and futu peric¥J$. In the opinion of the trustees, there are no key judgemenls that have a significant effect on the financk81 statements or key sources of eslimation uncertainty as at 31 October 2021. Income and ¢ndowrn¢nts All income is recognised once the ehanty has entidement lo the income, r( is probable that the income will be received and the amount of Ihe income receNable can be measured reliably. Donations and legacies Donations are reccgnised when the charity has been notrfEd in wnling of both the amount and settlement date. In the event that a donah'on is subject to conditsons that require a level of performance by the charity before the charity is entitled to the fvnds. the income is deferred and not recognised until either those condib.ons are fulty met. or the fulfilment of those condity.ons is wholly within the Control of the charty and it is probab that these conditnS will be fulfilled in the reporting period. Grants rnctiivabl• Grants are recognised when the chanty has an entillement lo the fvnds and any conditions linked lo the grants have been mel. Where perfomiance condib.ons are attached to the grant and are yet to be met, the income is recognised as a lbilIty and included on the balance sheet as deferred income lo be released. Deferred Income Deferred income represents amounts received for fulure periods and is released to in¢oming resources in the period for which. it has been reived. Such income is onty deferred when.. The donor specifies that the grant or donation musl onty be used in future accounting periods., The donor ha$ imposed condib.ons which must be met before the Chanty has unconditn¥1 entitlement". or - Where lottery tickets are sokl in advan* of the draw being carried oul the income is deferred until the date of the draw. Page 12
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 Expenditure All expenditure is rognISed once there 1$ a Jegal or constructNe obligation lo that expenditure, it is probable settlement is qUired and the amount can be measured reliabty. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that ealegory. Where costs cannot be direetly attributed to particular headings they have been allocated on a basis consistent with the use of resources. with central slaff costs altrated on the basis of b.me spent, and depreciatson charges allocated on the porty.on of the asset's use. Other supkxjrt costs are alIcted based on the spread ol slaff costs. Raising funds These are costs incurred in attrath.ng voluntary in¢ome, management of investments and those incurred in trading activities that raise fund5. Charitablè actlvftlos Charitable expenditure 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 lo such activits.es and those costs of an indirect nalure necessary to support them. Grantprovlsion$ Provisions for grants are made when the intentK)n to make a grant has been communKated to the reCtent but there is uncertainty about either the tr.ming of grant or the amount of grant payable. Support costs Support eosts include ¢entral functions and have been althated to actNity cosl categories on a basis consistent with the use of resources, for example, allcKab"ng property costs by fioor areas, or per capita, staff cost5 by the kn.me spent and olher costs by their usage. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Ad 2010 and therefore it meets the definib.on of a charitsble company for UK corporalh)n tax purposes. Accordingly. the charity is potentialty exempt from tsxation in respect of Income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusNdy to Charitsb purFoses. Tangible fixed assets All individual fixed assets are initialty recorded at cost, kss any subsequent accumulated depreciatson and subsequent accurnulated impairment losses. Dèprnciation and amortisalion Depreciation is provided on tsnglb fixed assets so as to write off the cost or valuation. less any estimated resUal value, over their expected useful economr lrfe as follows. Asset class Land and building$ Furnrture and equipmenl Dtpreciatlon method and rate Straight line over 11)0 years Straight line over 10 years Page13
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 Trade debto Trade debtors are amounts due from customers for merchandise sokl or services performed in Ihe ordinary course of business. Trade debtor5 are reeognised initialty at the transxtion pri. They are subsequentty Measu at amortised cost using the effeclive interest method, less provision for impaimenl. A provision for the impairrnent of trade debtor5 15 established when there is objectNe evidence that the charity will not be able to collect all amounts due according lo the original lerTns of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tem hhlY liquid investments that are readity convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade credltors Trade creditors are obligations to pay for g¢)ods or seNices that have been acquired in the ordinary course of business from supplErs Accounls payable are classified as current liabilities if the charity does not have an unconditsonal rKJh( at the end of the reporting perK)d. lo defer settlement of ihe creditor for at least 1ve months after the reporting date. If there is an unujndilional right to defer settlement for al least hvefve months after the reporting date. they are presented as non•current liabilities. Trade creditr)rs are recognised initialty at the transact wice and subsequenlty measured at omorb'sed cost using the effecb've interest method. Fund structure Unrestricted income funds are general funds that are available for use al the tru51ees' dI$¢tIon in furtherance of the objectives of the tharity. Restricted income funds are those donaled for use in a parlicular area or for specific purposes. the use of whh is restricted lo that area or purpose. Financial instruments Classrfication Financial assets and finanoal Ivabilities are reccgni%ed when the charity becomes a party to the contra¢lual provisions of the Instrument. Financial liabilities and equity instruments are dassified actording to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a resklual interest in the assets of the charity after deducb.ng all of rts liabilthes. Page 14
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 Recognition and measurement l financial assets and liabiif(ies are lnitAl measured at transaction ple (including transaction coslsl, except for those financial assets claSsifd as al fair value through profil or kiss, vthich are inrtially measured al fair value (whh is nomally the transaction price excluding transaction costs). unless the arrangement eonsts'tutes a financing tranSactn. If an arrangement constitutes a financing transaclDn. the financial asset or financkql liability is measured at the present value of the future payments discounted at a market rale of inleresl for a similar debt instrument. Financial assets and liabilrties are onty offset in the stslement of financial position when. and onty when there exists a legally enforceable right to set off the retognised amounts and the charity intends either to settle on a net basis. or to realise the asset and settle the liabilty simultaneously. Financial assets are dereeognised when and onty wthen al the contractual rights to the cash flows from the financial asset expire or are settled, bl the charity transfers to another party substanlialty all of the risks and rewards of ownership of the financial asset or c) the charity, despite having retsined some, but not all. signthcant risks and rrdS of ownership. has transferred control of the asset lo another party. Financial liabilities are derecognised onty when the obligatKin speCffjd in the contract is discharged, cancelled or expires. 3 Income from donatlons and legacles Unrestri¢ted funds General Restrlcted fund¥ Total funds Donations and leg&ies". Donations from companies. Irusts and similar proceeds Donatn$ from indNiduals Grants, including capital grants". Govemmenl grants Grants from other chaftthes 3,606 3,606 12.286 12.286 12,811 37,000 12,811 37.000 Total for 2021 12,286 53,417 65,703 Total for 2020 5,434 428,197 433,631 Pa9e 15
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 4 Incom• from other trading actlvlttes Unrestricted funds General Total nds Trading income., Sales of goods and servrces Events income., Other events income Lotteries and compeblions income Property rental income 992 992 2.000 1.804 6,312 2,000 1,804 6,312 11,108 Totsl for 2021 11.108 Total for 2020 6.909 6,909 5 Expenditure on raislng funds a) Costs of generating donation$ and legacies UnTestrlctsd funds General Total nds Note Other dire¢l ¢osts of generating vcluntsry income Total for 2021 656 656 656 656 Total fol 2020 b) Costs of trading activities Unrestricted fvnds General Total funds Note Costs of good$ sold Lotteries and competitions 1,002 546 1,002 546 Total for 2021 1,548 1,548 Page16
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 6 Expenditure on charitabl• activilies Unrestricted funds General Total funds Grant funding of ath"vities 1,200 1.200 During the year a grant was given to the Bishops Hull Short Mat BovAs Club for the purchase of equipment. The Club operales from the Hub. 7 Other expendlture Unrestricted funds General Restricted funds Total funds Note Legal and professional fees Marketing and PUbl1ty Depreciab"on, amortisabon and other similar Costs Other.resources expended Allocated supp)rt costs 2,187 131 2,187 131 7,150 1,339 6,803 7,150 1,339 6.803 Total for 2021 17,610 17.610 Total for 2020 1,711 1.855 3,566 Page17
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 8 Truslees remuneration and experbses During the year the charty made the following transactions wilh trustees.. £1,153 {2020.' £2,018) of expenses were rwmbursed to three (2020: four) trustees during the year in respect of fundraising expenses and professional fees_ No trustees, nor any persons connected with them. have received any remunerakn.on from the charity during the year. Donations made by the trustees thout any conditions attached totalled £3.270 for the year12020 - £7501. 9 Taxation The charity is a registered charity and is therefore exempt from taxation. 10 Tangibl• red assots Land and Furntture and Assets under buildings equipment onstruction Total osl At 1 November 2020 Additions Transfe 297.756 297.756 288.140 276,497 297,756 11.643 297.756 At 31 October 2021 574.253 11.643 585.896 Depreciation Charge the year At 31 October 2021 5.986 1.164 7,150 5.986 1.164 7,150 Net book value At 31 October 2021 568,267 10,479 578,746 At 31 October 2020 297.756 297,756 Included within the nel bc¥)k value of land and buikling5 above is £Nil 12020 £Nill in respect of freehold land and buiklings and £568.26712020 - £Nil) in resFect of leaseholds. Pagé18
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 11 Debtors 2021 2020 Pr8payTnents Accrued income 1,063 1.950 112,410 112,410 3.013 12 Cash and cash equivalents 2021 2020 Cash on hand Cash at bank 177 109,345 13,329 13,379 109.522 13 Creditors". amounts falling due within one year 2021 2020 Trade creditors Other loans other (xeditors Accruals Deferred income 710 504 1,267 2,663 10.119 1,743 1,158 15,792 2,372 14 Credllors: amounts falllng due after one year 2021 2020 othgr loans 55.704 49.471 Included in ihe creditors are the following amounts due after more than five yeats". 2021 2020 After more than five years by instalments 50.492 47.317 Borrowlngs du¢ after five years A loan from the HM Treasury is repayable over 49 years al fixed interest rale of 2.67Y• for the duration of the loan, and £46.742 of this loan is repayable after more than 5 years. A second loan from Bishops Hull Plaw'ng Field Trust is repayable over 10 years and is interest free. £3.750 of this loan is repayable after more than five yeats. Page 19
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 15 Fund¥ Balance at 1 November 2020 Balance at 31 October 2021 Incoming Resources resources expended Transfèrs Unreslrlcted funds G•neral General fund 19.635 23,394 (21.0141 501.627 523,642 Rastricted funds Capital build fund Fairfiold Trust Norman Family Ctrari¢able Trust Garfield Weston Bemard Sunley Hinkley C Community Fund Somer5el West and Taunton - s106 grant Communily Infrastructure Levy grant Lottery Reaching Comrnunities Fund 8utterfields grant CIL funds 20.013 10.000 (20.0131 (10.¢)001 {2,000} 115.000} (10.000} 15.000 10,000 10.000 (10.000) 236.197 4.7(Kl 1240.897) (50.000} 95.000 1129,640} (3,6061 10.471 10.471 Total restricted fund5 448.210 53.417 1501,627 Total funds 467.845 76.811 21.0141 523.642 Pa99 20
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 Balance at 1 November 2019 Incoming resources Resource5 Balance at 31 expended October 2020 Unrestricted funds Ggnernl General fvrvj 9.851 12.343 12,5591 19,635 Restricted Capital build fvnd Fairfield Trust Norman Family Charitae Trust Garfield Weston Bernard Sunley Hinkley C Community Fund Somersel West and Taunton - s106 grant Community Infrastructure Levy grant Lottery Reaching Communities Fund 21.868 11,8551 20,013 10,000 10.000 2,000 15,000 10.CKIO 10,000 2,000 15,000 10.000 10.000 236.197 236, 197 50.000 95.1)00 95,000 Total restricted funds 21.868 428,197 11,855 448,210 Total funds 31.719 4,414 467,845 The specific purposes for which the funds are to be appl*d are as follows." All reslricled funds represent Ihe Capital project in respe¢l of the build and fil oul of the new ornmunity hub. The build was completed during the year and the hub opened lo the public. As result all the restrictions on the funding have n(yw been mel and the completed assets transfeed to unreslricled funds. Page 21
Bishops Hull Hub Limited Notes to the Financial Statements for the Year Ended 31 October 2021 16 An•lyso of net assets between funds Unrestricted funds General Total funds Restricted at 31 October funds 2021 Tangible fixed assets Current assets Cuirent lbIl"e$ Creditors over 1 year Total nel assets 578.746 16,392 {15,792) 55.704 578.746 16,392 {15,7921 55,704 523,642 523.642 Unrestricted funds General Total funds Reslricted at 31 October funds 2020 Tangible red assets Current assets Current liabilrties Creditors over 1 year 4.742 66.736 12.372} 49,471 293,014 155.196 297.756 221,932 12,3721 49.471 Total net assets 19,635 448,210 467.845 Page 22