Central Swindon North Leisure & Libraries Trust Statement of Accounts FY2020-21
Provisional account statement for FY 2020-2021. These are unaudited.
Key points for the year
St Mark’s Tennis Centre became part of the Trust on April 1[st] 2020. The accounts for this entity are shown separately and in a consolidated form with the original Library Trust accounts.
A sinking fund of £45k was transferred over from the previous tennis trust. This money is to be used to maintain the facilities at the Tennis centre. A separate bank account will be set up to ring fence this money and any further grants.
COVID19 has had a substantial impact on St Mark’s Tennis Centre revenue’s resulting in reduced payments to the Trust - £8,305 actual vs £15,600 forecast. This shortfall has been offset by a grant of £10,000 from Central Swindon against lost revenue. It is recommended that this money is added to the sinking fund.
Libraries have also been closed for most of this FY resulting in lower operating costs than forecast. All operational library costs have been transferred from the Parish to the Trust during the course of 2020/21. This was not the case in 2019/20 when the Parish still paid for most of these costs, resulting in a large surplus of £35,214 at the end of that financial year.
The Trust is now registered for VAT. This is a double edged sword as at this time it does not generate sales that attract VAT which limits the ability to reclaim VAT, whilst now having to submit VAT returns on a quarterly basis.
It has been possible to reduce the VAT rate paid on utilities from 20% to 5%
Net Assets as at March 31[st] 2021 were £91,907.
This includes £55k Tennis Centre sinking fund and a £5k Grant from Westmill Solar.
Library Trust net assets at year-end are £34k resulting from overpayments in 2019/20. This item is reflected in the reduced grant application for 2021/22.
Neil Johnson
Treasurer
June 28[th] 2021
Consolidated Statement
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Central Swindon North Leisure and
Libraries Trust
Statement of Financial
Activities
Financial Year ended 31st
March 2021 2021 2020
Not
es £ £
Income
Parish Grants 1 61,958 116,052
Annual Tennis receipts 2 8,305 -
Library Fees and Fines - 1,285
70 117,
Total Income ,263 337
Expenditure:
Operating Costs 3 42,756 3,676
Staff Costs 4 (473) 68,033
Stock Costs 5 16,287 10,414
Total Expenditure 58,570 82,124
Net Income/Expenditure for period 11,693 35,214
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Central Swindon North Leisure and
Libraries Trust
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| Central Swindon North Leisure and Libraries Trust |
Central Swindon North Leisure and Libraries Trust |
Central Swindon North Leisure and Libraries Trust |
|---|---|---|
| Balance Sheet | ||
| Financial Year ended 31st March 2021 |
2021 | 2020 |
| Not es |
£ | £ |
| Current Assets | ||
| Stock | 32,575 | 20,829 |
| Less Written Down | (26,701) | (10,414 ) |
| Sub Total 5 |
5,873 | 10,414 |
| Debtors 6 |
2,600 | 44,619 |
| Cash at Bank 7 |
93,290 | 3,995 |
| Total Current Assets | 101,763 | 59,028 |
| Less: Current Liabilities | ||
| Creditors 8 |
9,855 | 23,815 |
| Net Current Assets | 91,907 | 35,214 |
| Net Assets | 91,907 | 35,214 |
| Represented By; | ||
| Brought Forward - Library Trust | 35,214 | 0 |
| Sinking Fund Transfer St Mark's 9 |
45,000 | 0 |
| Net+/- (Loss) for the year | 11,693 | 35,214 |
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Total Funds 91,907 35,214
Central Swindon North Leisure and
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| Libraries Trust | 2020 £ 116, 052 - 116, 052 - - - - - 106 520 3,008 - |
|
|---|---|---|
| Notes to Statement of Financial activities |
||
| Financial Year ended 31st March 2021 |
||
| 2021 | ||
| £ | ||
| 1. Parish Grants | ||
| Library Trust | 51 ,958 |
|
| St Marks | 10 ,000 |
|
| Total | 61 ,958 |
|
| 2. Tennis Receipts | ||
| Q1 Pro rata rebate (late contract signing) Rec'd 12th Nov 2020 |
1,805 | |
| Q2 Received 23rd October 2020 | 3,900 | |
| Q3 Received 15th April 2021 (partial rebated) |
2,600 | |
| Q4 Rebated | - | |
| Total | 8,305 | |
| 3. Operating Costs | ||
| Ofce and Security | 316 | |
| Cleaning | 1,429 | |
| Rent & Rates | 27,324 | |
| Heat & Light, water | 6,215 |
| Communication & IT | 6,594 | - |
|---|---|---|
| Professional Fees & Subs | 850 | - |
| Sundry | 28 | 42 |
| Total | 42,756 | 3,676 |
| 4. Staf Costs | ||
Librarians were employed and paid by Central Swindon North Parish |
||
| 2021 | 2020 | |
| £ | £ | |
| 5. Stock | ||
| Stock & Supplies Cost | 32,575 | 20,829 |
| Depreciation: | ||
| Brought forward | 10,414 | - |
| Less: 50% Write Down for year 2019/20 |
16,287 | 10,414 |
| Amount Carried Forward | 26,702 | 10,414 |
| Net Value | 5,873 | 10,414 |
| 6. Debtors | ||
| Grant Pending | 0 | 44,512 |
| Library Fees and Fines | 0 | 107 |
| Tennis Payments | 2,600 | 0 |
| Total | 2,600 | 44,619 |
| 7. Cash at Bank | ||
| Metro Bank | 34,810 | 3,990 |
| St Marks | 58,480 | |
|---|---|---|
| Total | 93,290 | 3,990 |
| 8. Creditors | ||
| Westmill Payment – Moredon Hub “Learn To Ride” |
5,000 | 0 |
| Operating Costs | 4,855 | 3,634 |
| Staf Costs | - | 20,180 |
| Total | 9,855 | 23,815 |
| 9. Tennis - Sinking Fund | ||
| Amount Transferred to Library Trust | 45,000 | 0 |
| 0 | ||
| 45,000 | - | |
| 10. Trustee Costs |
||
| No Trustee received any remuneration during the fnancial year |
||
| Note: Assumes no VAT recoverable at this stage |
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Central Swindon North Leisure and Libraries Trust
- Libraries
Statement of Financial
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| Central Swindon North Leisure and Libraries Trust - Libraries Statement of Financial |
Central Swindon North Leisure and Libraries Trust - Libraries Statement of Financial |
Central Swindon North Leisure and Libraries Trust - Libraries Statement of Financial |
|---|---|---|
| Activities | ||
| Financial Year ended 31st March 2021 |
2021 | 2020 |
| Note s |
£ | £ |
| Income | ||
| Parish Grants 1 |
51,958 | 116, 052 |
| Annual receipts | - | - |
| Library Fees and Fines | 0 | 1,285 |
| Total Income | 51,958 | 117, 337 |
| Expenditure: | ||
| Operating Costs 3 |
37,175 | 3,676 |
| Staf Costs 4 |
(473) | 68,033 |
| Stock Costs 5 |
16,287 | 10,414 |
| Total Expenditure | 52,989 | 82,123 |
Net Income/Expenditure for period (1,031) 35,214
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Central Swindon North Leisure and Libraries
Trust - Libraries
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| Central Swindon North Leisure and Libraries Trust - Libraries |
Central Swindon North Leisure and Libraries Trust - Libraries |
Central Swindon North Leisure and Libraries Trust - Libraries |
|---|---|---|
| Balance Sheet | ||
| Financial Year ended 31st March 2021 |
2021 | 2020 |
| Note s |
£ | £ |
| Current Assets | ||
| Stock | 32,575 | 20,829 |
| Less Written Down | (26,701) 16,2 87 |
(10,414 ) |
| Sub Total 5 |
5,873 | 10,414 |
| Debtors 6 |
0 | 44,619 |
| Cash at Bank 7 |
34,810 | 3,995 |
| Total Current Assets | 40,683 | 59,028 |
| Less: Current Liabilities | ||
| Creditors 8 |
6,500 | 23,815 |
| Net Current Assets | 34,183 | 35,214 |
| Net Assets | 34,183 | 35,214 | |
|---|---|---|---|
| Represented By; | |||
| Brought Forward | 35,214 | 0 | |
| Net+/- (Loss) for the year | (1,031) | 35,214 | |
| Total Funds | 34,183 | 35,214 | |
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Central Swindon North Leisure and Libraries
Trust - Tennis
Statement of Financial
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| Central Swindon North Leisure and Libraries Trust - Tennis Statement of Financial |
Central Swindon North Leisure and Libraries Trust - Tennis Statement of Financial |
Central Swindon North Leisure and Libraries Trust - Tennis Statement of Financial |
|---|---|---|
| Activities | ||
| Financial Year ended 31st March 2021 |
2021 | 2020 |
| Not es |
£ | £ |
| Income | ||
| Parish Grants 1 |
10,000 | - |
| Annual receipts 2 |
8,305 | |
| Library Fees and Fines | 0 | |
| Total Income | 18,3 05 |
- |
| Expenditure: | ||
| Operating Costs 3 |
5,581 | - |
| Staf Costs 4 |
- | |
| Stock Costs 5 |
| - | |||
|---|---|---|---|
| Total Expenditure | 5,581 | - | |
| Net Income/Expenditure for period | 12,725 | - | |
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Central Swindon North Leisure and Libraries
Trust - Tennis
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| Central Swindon North Leisure and Libraries Trust - Tennis |
Central Swindon North Leisure and Libraries Trust - Tennis |
Central Swindon North Leisure and Libraries Trust - Tennis |
|---|---|---|
| Balance Sheet | ||
| Financial Year ended 31st March 2021 |
2021 | 2020 |
| Not es |
£ | £ |
| Current Assets | ||
| Stock | - | - |
| Less Written Down | - | |
| Sub Total 5 |
- | - |
| Debtors 6 |
2,600 | - |
| Cash at Bank 7 |
58,480 | - |
| Total Current Assets | 61,080 | - | |
|---|---|---|---|
| Less: Current Liabilities | |||
| Creditors due within one year | 8 | 3,355 | - |
| Net Current Assets | 57,725 | - | |
| Net Assets | 57,725 | - | |
| Represented By; | |||
| Sinking Fund | 9 | 45,000 | - |
| Net+/- (Loss) for the year | 12,725 | - | |
| Total Funds | 57,725 | - | |