**Charity Registration Number: 1178907** # **NORTON GLEBE RESIDENTS ASSOCIATION** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2021** ## **NORTON GLEBE RESIDENTS ASSOCIATION** ## **REPORTS AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ||**Pages**| |---|---| |**Trustees’ Report**|1 - 2| |**Chartered Accountants’ Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5| |**Notes to the Financial Statements**|6 - 9| **Page 1** ## **NORTON GLEBE RESIDENTS ASSOCIATION** # **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021** The trustees present their report and the unaudited financial statements of the charity for the period The financial statements have been prepared in accordance with the accounting policies set out in note 3 to the accounts and comply with the charity’s Trust Deed, the Charities Act 2011 and 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 issued in October 2019. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Charity Name:** Norton Glebe Residents Association **Charity Registration Number:** 1178907 **Registered Office:** The Glebe Community Centre Hanover Parade Stockton-on-Tees TS20 1RB **Trustees:** Mr. S. Laing (Chair) Mr. D. Wilburn Mr. G. Wilcockson **Chartered Accountants:** Baines Jewitt Limited Barrington House 41-45 Yarm Lane Stockton-on-Tees TS18 3EA **Bankers:** National Westminster Bank Plc 123 High Street Stockton-on-Tees TS18 3NJ ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing Document** Norton Glebe Residents Association is a Charitable Incorporated Organisation (CIO) governed by a model Foundation Constitution dated 22 June 2018. ## **Appointment of Trustees** New trustees may be recruited to the Board at any time by the existing trustees. In selecting individuals for appointment as trustees, the existing trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. **Page 2** ## **NORTON GLEBE RESIDENTS ASSOCIATION** ## **TRUSTEES’ REPORT FOR THE YEAR ENDED MARCH 2021** ## **OBJECTIVES AND ACTIVTIES** The objects of the CIO are to further or benefit the residents of Glebe Estate, Stockton-on-Tees, and the neighbourhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions, 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 the objective of improving the conditions of life for the residents. In furtherance of these objects, but not otherwise, the trustees shall have power: to establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such centre for activities promoted by the charity in furtherance of its objects. The main purpose of the charity is the operation of Norton Glebe Community Centre to provide social, educational and recreational activities for the benefit of the local community, e.g. Play Groups, Yoga, Pilates, Bingo, Over 60’s social activities etc. In exercising their powers and duties, the trustees have had due regard to the guidance on public benefit published by the Charity Commission. Volunteers play an important role as regards the operation of the centre and ensuring that activities are carried out legally and safely. ## **ACHIEVEMENTS AND PERFORMANCE** 2020/2021 was an extraordinary year for the Glebe Residents Association. All normal day-to-day charitable activities stopped abruptly and attentions turned to dealing with the effects of the global pandemic and how the Charity would respond. The immediate priority was to protect the Community Centre’s resources, to ensure building running costs could be met without any regular sources of income, and to make rooms available to government agencies should they be needed to support a community response to the pandemic. An emergency budget was adopted to legislate for a worst-case scenario and all none essential expenditure was suspended. As it turned out, the building was not needed and the Charity was able to access an emergency business support grant to help see us through what turned out to be a difficult period. In the coming year we are hoping to secure funding to improve disabled access to the toilets. The toilets are over 50 years old and in desperate need of modernising. ## **FINANCIAL REVIEW** The results for the year and financial position at the period end are shown in the annexed financial statements. At 31 March 2021 the unrestricted reserves were £27,831 (31 March 2020: £12,609). The trustees consider the overall financial position and state of affairs of the charity at the balance sheet date to be satisfactory and remain optimistic as regards the future. ## **Approval** This report was approved by the trustees on ……………………………….. and signed on their behalf by: …………………………….. **Mr S. Laing Chair of Trustees** **Page 3** **CHARTERED ACCOUNTANTS’ REPORT TO THE MEMBERS OF** ## **NORTON GLEBE RESIDENTS ASSOCIATION** In accordance with our terms of engagement, we have prepared for your approval the financial statements of Norton Glebe Residents Association for the year ended 31 March 2021, set out on pages 4 to 9, from the accounting records and from information and explanations you have given us. As a practising firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. This report is made solely to you, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Norton Glebe Residents Association and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release TECH08/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than you for our work or for this report. You have approved the financial statements for the year ended 31 March 2021 and have acknowledged your responsibility for them, for the appropriateness of the financial reporting framework adopted, and for providing all information and explanations necessary for their compilation. We have not verified the accuracy or completeness of the accounting records or information and explanations you have given us and we do not, therefore, express any opinion on the financial statements. **Baines Jewitt Limited Chartered Accountants Barrington House 41-45 Yarm Lane Stockton-on-Tees TS18 3EA** **Date:** …………………….. ## **JL/AJD** **Page 4** ## **NORTON GLEBE RESIDENTS ASSOCIATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021** |||**Unrestricted Funds**|**Unrestricted Funds**|**Restricted**|**Funds**|**Total**|**Funds**| |---|---|---|---|---|---|---|---| ||**Note**|**2021**|2020|**2021**|2020|**2021**|2020| |||**£**|£|**£**|£|**£**|£| |**INCOME**|||||||| |Grants, donations and legacies|**4(a)**|**20,603**|-|**-**|-|**20,603**|-| |Income from charitable activities|**4(b)**|**2,817**|11,258|**-**|-|**2,817**|11,258| |Investment income|**4(c)**|**-**|2|**-**|-|**-**|2| |||**______**|**______**|**_____**|**_____**|**______**|**______**| |**TOTAL INCOME**||**23,420**|11,260|**-**|-|**23,420**|11,260| |||**=======**|**=======**|**======**|**======**|**=======**|**=======**| |**EXPENDITURE**|||||||| |Charitable activities|**5**|**8,198**|10,445|**-**|**-**|**8,198**|10,445| |||**_____**|**______**|**_____**|**_____**|**_____**|**______**| |**TOTAL EXPENDITURE**||**8,198**|10,445|**-**|-|**8,198**|10,445| |||**======**|**=======**|**======**|**======**|**======**|**=======**| |**Net income/(expenditure)**||**15,222**|815|**-**|-|**15,222**|815| |**Transfers between Funds**||**-**|-|**-**|-|**-**|-| |||**______**|**_____**|**_____**|**_____**|**______**|**_____**| |**Net Movement in Funds**||**15,222**|815|**-**|-|**15,222**|815| |**Reconciliation of Funds:**|||||||| |**Total Funds Brought Forward**||**12,609**|11,794|**-**|-|**12,609**|11,794| |||**______**|**______**|**_____**|**_____**|**______**|**______**| |**Total Funds Carried Forward**|**12/13**|**27,831**|12,609|**-**|-|**27,831**|12,609| |||**=======**|**=======**|**======**|**======**|**=======**|**=======**| The Statement of Financial Activities includes all gains and losses for the period. All incoming resources and resources expended derive from continuing activities. The notes on pages 6 to 9 form part of these financial statements **Page 5** ## **NORTON GLEBE RESIDENTS ASSOCIATION** ## **BALANCE SHEET AS AT 31 MARCH 2021** ||||**31.3.21**||31.3.20| |---|---|---|---|---|---| ||**Note**|**£**|**£**|£|£| |**FIXED ASSETS**|||||| |Tangible assets|**9**||**3,947**||4,643| |**CURRENT ASSETS**|||||| |Debtors|**10**|**392**||370|| |Cash at bank and in hand||**25,772**||9,276|| |||**_________**||**________**|| |||**26,164**||9,646|| |**CREDITORS: Amounts falling due**|||||| |**within one year**|**11**|**2,280**||1,680|| |||**________**||**________**|| |**NET CURRENT ASSETS**|||**23,884**||7,966| ||||**_________**||**________**| |**TOTAL ASSETS LESS CURRENT**|||||| |**LIABILITIES**|||**27,831**||12,609| ||||**_________**||**_________**| |**NET ASSETS**|||**27,831**||12,609| ||||**========**||**========**| |**FUNDS**|||||| |Unrestricted|||**27,831**||12,609| |Restricted|||**-**||-| ||||**_________**||**_________**| |**TOTAL FUNDS**|**12/13**||**27,831**||12,609| ||||**========**||**========**| Approved by the trustees on ……………………………….. and signed on their behalf by: …………………………….. **Mr. S. Laing Chair of Trustees** The notes on pages 6 to 9 form part of these financial statements **Page 6** ## **NORTON GLEBE RESIDENTS ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. CHARITY INFORMATION** The charity (registered number 1178907) is a public benefit entity, established in the UK on 22 June 2018 as a charitable unincorporated organisation. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operation and principal activity is the provision of facilities in the interests of social welfare for recreation and leisure time occupation. ## **2. BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS** ## **Basis of Preparation and Assessment of Going Concern** The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the 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 issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. ## **3. ACCOUNTING POLICIES** ## **(a) Incoming Resources** All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. ## **Investment Income** Investment income is included when receivable by the charity. ## **(b) Resources Expended** Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any attributable VAT which cannot be recovered. Individual costs are allocated between the various headings in the Statement of Financial Activities by reference to the underlying nature or reason for which those costs were incurred. ## **(c) Tangible Fixed Assets and Depreciation** In general, tangible fixed assets are only capitalised if they can be used for more than one year and cost at least £500. They are capitalised at cost or at a reasonable value on receipt. Depreciation is provided on tangible fixed assets so as to write off the cost or value, less any residual value, over their estimated useful economic lives as follows: Fixtures, fittings and equipment - 15% reducing balance ## **(d) Debtors and Creditors receivable/payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. **Page 7** ## **NORTON GLEBE RESIDENTS ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **3. ACCOUNTING POLICIES** _**(Continued)**_ - **(e) Fund Accounting** Funds held by the charity are either: - (a) **Unrestricted funds** - these are funds which can be used in accordance with the charitable objectives at the discretion of the trustees. - (b) **Restricted funds** - these are funds which 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. **4. INCOMING RESOURCES** |**4.**|**INCOMING RESOURCES**||||||| |---|---|---|---|---|---|---|---| |**(a)**|**Income from Grants, Donations**|**Unrestricted Funds**||**Restricted**|**Funds**|**Total**|**Funds**| ||**and Legacies**|**2021**|2020|**2021**|2020|**2021**|2020| |||**£**|£|**£**|£|**£**|£| ||These comprise:||||||| ||Stockton Borough Council:||||||| ||Centre support grants|**10,000**|-|**-**|-|**10,000**|-| ||Local Restrictions Support Grants|**10,603**|-|**-**|-|**10,603**|-| |||**_________**|**_______**|**_______**|**_______**|**_________**|**_______**| |||**20,603**|-|**-**|-|**20,603**|-| |||**========**|**======**|**======**|**======**|**========**|**======**| |||**Unrestricted Funds**||**Restricted**|**Funds**|**Total**|**Funds**| |**(b)**|**Income from Charitable Activities**|**2021**|2020|**2021**|2020|**2021**|2020| |||**£**|£|**£**|£|**£**|£| ||Room hire and lettings|**2,817**|11,258|**-**|-|**2,817**|11,258| |||**=======**|**========**|**======**|**======**|**=======**|**========**| The charity benefits greatly from the involvement and enthusiastic support of its many volunteers. In accordance with accounting standards, the economic contribution of general volunteers is not measured in the accounts. |||**Unrestricted**|**Funds**|**Restricted**|**Funds**|**Total**|**Funds**| |---|---|---|---|---|---|---|---| |**(c)**|**Investment Income**|**2021**|2020|**2021**|2020|**2021**|2020| |||**£**|£|**£**|£|**£**|£| ||Bank interest receivable|**-**|2|**-**|-|**-**|2| |||**======**|**======**|**======**|**======**|**======**|**======**| |**5.**|**EXPENDITURE ON CHARITABLE**|**ACTIVITIES**|||||| ||**Unrestricted Funds**|**Unrestricted Funds**|**Restricted**|**Funds**|**Total**|**Funds**| |---|---|---|---|---|---|---| ||**2021**|2020|**2021**|2020|**2021**|2020| ||**£**|£|**£**|£|**£**|£| |Rates and water|**522**|306|**-**|**-**|**522**|306| |Insurance|**1,153**|1,094|**-**|**-**|**1,153**|1,094| |Light and heat|**1,695**|1,769|**-**|**-**|**1,695**|1,769| |Repairs and renewals|**19**|-|**-**|**-**|**19**|-| |Cleaning and sundries|**2,413**|4,757|**-**|**-**|**2,413**|4,757| |Governance costs - see below|**600**|600|**-**|**-**|**600**|600| |Management fee|**1,100**|1,100|**-**|**-**|**1,100**|1,100| |Depreciation|**696**|819|**-**|**-**|**696**|819| ||**________**|**_________**|**_______**|**_______**|**________**|**_________**| ||**8,198**|10,445|**-**|**-**|**8,198**|10,445| ||**=======**|**========**|**======**|**=======**|**=======**|**========**| |**Governance Costs**||||||| |Accountancy|**600**|600|**-**|-|**600**|600| ||**======**|**======**|**======**|**======**|**======**|**======**| **Page 8** ## **NORTON GLEBE RESIDENTS ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **6. NET INCOMING RESOURCES FOR THE YEAR** |This is stated after charging:|**2021**|2020| |---|---|---| ||**£**|£| |Depreciation|**696**|819| |Accountants’ fees|**600**|600| ||**======**|**======**| ## **7. TRUSTEES’ REMUNERATION** No trustees received any remuneration or were reimbursed any expenses. ## **8. TAXATION** As a registered charity, Norton Glebe Residents Association is exempt from tax on its income under Section 505 of the Taxes Act 1988 provided that such income is applied for charitable purposes only. ## **9. TANGIBLE FIXED ASSETS** |**9.**|**TANGIBLE FIXED ASSETS**||| |---|---|---|---| ||||**Total**| ||**Fixtures, Fittings and Equipment**||**£**| ||**Cost/Valuation**||| ||At 1 April 2020||**6,312**| ||Additions at cost||**-**| ||||**________**| ||At 31 March 2021||**6,312**| ||||**=======**| ||**Depreciation**||| ||At 1 April 2020||**1,669**| ||Charge for the year||**696**| ||||**________**| ||At 31 March 2021||**2,365**| ||||**=======**| ||**Net Book Value**||| ||At 31 March 2020||4,643| ||||**=======**| ||At 31 March 2021||**3,947**| ||||**=======**| |**10.**|**DEBTORS**||| |||**2020**|2019| |||**£**|£| ||Other debtors and prepayments|**392**|370| |||**======**|**=======**| |**11.**|**CREDITORS: Amounts falling due within one year**||| |||**2020**|2019| |||**£**|£| ||Trade creditors and accruals|**2,280**|1,680| |||**=======**|**=======**| **Page 9** ## **NORTON GLEBE RESIDENTS ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **12. ANALYSIS OF NET ASSETS BETWEEN FUNDS** ||||**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---| ||||**£**|**£**|**£**| ||Tangible fixed assets||**3,947**|**-**|**3,947**| ||Net current assets||**23,884**|**-**|**23,884**| ||||**_________**|**________**|**_________**| ||||**27,831**|**-**|**27,831**| ||||**========**|**=======**|**========**| |**13.**|**STATEMENT OF FUNDS**||||| |||Balance as|**Income**|**Outgoing**|**Balance as**| |||at 1.4.20|**Resources**|**Resources**|**at 31.3.21**| |||£|**£**|**£**|**£**| ||Unrestricted Funds|12,609|**23,420**|**8,198**|**27,831**| ||Restricted Funds|-|**-**|**-**|**-**| |||**_________**|**_________**|**________**|**_________**| ||**Total All Funds**|12,609|**23,420**|**8,198**|**27,831**| |||**========**|**========**|**=======**|**========**| ## **14. CONTROLLING PARTY** Throughout the current and previous periods, the charity was under the control of the Board of Trustees. ## **15. RELATED PARTY TRANSACTIONS** During the current and previous periods, there were no related party transactions. ## **16. FINANCIAL INSTRUMENTS** The carrying amounts of the charity’s financial instruments are as follows: |**Financial Assets**|**2021**|2020| |---|---|---| ||**£**|£| |Measured at amortised cost:||| |- Cash at bank|**25,772**|9,276| ||**========**|**=======**| |**Financial Liabilities**||| |Measured at amortised cost:||| |- Trade creditors and accruals|**2,280**|1,680| ||**=======**|**=======**| The income, expenses, net gains and net losses attributable to the charity’s financial instruments are summarised as follows: |**Income and Expense**|**2021**|2020| |---|---|---| ||**£**|£| |Financial assets measured at amortised cost:||| |Interest received|**-**|2| ||**=====**|**=====**|