**North Walsham Community Shop Report and Financial Statements**
**For the year to 31 December 2022**
**Charity no: 1178958**
## **Contents**
|||
|---|---|
|**Contents**|**Page**|
|Charity Reference and Administrative Details|1|
|Report of the Trustees|2-4|
|Report of the Independent Examiners|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes forming part of the financial statements|
8|
## **Reference and administration information**
## **Trustees:**
- Annie Abbs
- Jon Witte
- Paul Oakes (deceased June 2022)
- Robert Wright
- Veronica Cooke
- Juliet Wright
- Sharon Nelson (appointed January 2022, resigned July 2022)
- Shirley Jordan (appointed April 2022)
- Katie Mayes (appointed September 2022)
All Trustees give of their time freely and no Trustee remuneration was paid in the year. Trustees received fuel reimbursement for collection and transport of goods for the shop.
## **Places of business:**
1 Market Place, North Walsham, Norfolk, NR28 9BP
16b Church Street, North Walsham, Norfolk, NR28 9DA
## **Independent Examiner:**
Sexty & Co., 2a Church Street, North Walsham, NR28 9DA
## **Bankers:**
Lloyds Bank Plc, Market Place, North Walsham, NR28 9BP
1
## **Report of the Trustees For the year to 31 December 2022**
The Trustees present their annual report and financial statements of North Walsham Community Shop for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in notes 1 to 4 to the accounts and comply with the charity’s Trust Deed, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities published in 2015.
## **Structure, governance and management**
The Trust is a registered charity, number 1178958, and is constituted under a Trust Deed dated 27 June 2018 amended 7 November 2019. North Walsham Community Shop was established in 2017 to raise funds to support the people and town of North Walsham and trading commenced on 15 January 2018. It raises funds through the sale of donated items and sponsorship by businesses.
The Trustees were appointed for one year after which they will put themselves forward for re-appointment. The Trust Deed provides for a minimum of three Trustees, with all Trustees due for re-appointment each year.
All Trustees give of their time freely and no Trustee remuneration was paid in the year.
The Trustees meet monthly to agree strategy and to review and agree grants for that month. The Grants Committee is made up of the Trustees.
## **Risk management**
The Trustees have considered the major risks to which the charity is exposed, chiefly the variability of sales income. The Trustees have reviewed those risks and have made allowance in the annual budget. To mitigate future decline in income or other external impact of the Trust’s viability, a reserve fund equivalent to 3 month’s running costs (approx. £1,800) has been established, and is included within general reserves.
## **Objectives and activities for the public benefit**
The objects of the Trust are:
- 1) To advance such purposes as are charitable in law for the benefit of the residents of North Walsham and the surrounding area by the making of grants to charities and voluntary organisations.
- 2) To provide advice and guidance to recipients of our grants to establish good administrative practices (i.e. banking and property transactions).
The specific focus for grants are those that;
- help disadvantaged groups in the town and local area to help them meet their needs and participate more fully in society and to promote equality and diversity
- help projects and groups improve the public environment to enhance the quality of life for all
The Trust carries out these objectives by the giving of grants to groups or individuals whose needs or projects meet these objectives.
2
## **Report of the Trustees For the year to 31 December 2022 (continued)**
## **Achievements and performance**
2022 was a successful trading year for both of our shops. This enabled us to meet the grant requests made to us with a wide variety of local organisations being supported.
## **Grant making policy**
Grants are awarded to applicants whose projects meet the stated objectives and have fully explained the scope, needs and costs of these together with the benefits the project will bring to the town or to its residents.
## **How our grants have delivered public benefit**
The list below summarises the £25,361 grants awarded in 2022 and the stated benefits or outcomes of these. The Trustees visit completed projects to witness these and attend formal openings when invited.
|£1,000|to Creative Support for Vulnerable Families and Children’ to provide support and therapy to|
|---|---|
||local families.|
|£5,000|to Manor Road school towards the cost providing replacement outdoor play equipment|
|£1,000|to North Walsham Community Events for the carnival procession at the Funday in June|
|£400|to North Walsham Play for this year’s Easter Egg Trail|
|£150|to Epic Events for this year’s 5k fun run on 24th June|
|£70|to purchase Easter Egg hunt event tickets for Food bank|
|£500|to Children’s Day for the bouncy castles and music at their event|
|£1,200|to Battle of North Walsham 1381 for their local schools’ history workshops|
|£707|to North Walsham Rugby Club towards their junior schools’ rugby taster sessions|
|£500|to North Walsham Think Carer Network towards the costs of their ‘Big Bash’.|
|£1,000|to Creative Support for Vulnerable Families and Children’ to provide support and therapy to|
||local families.|
|£1,000|to North Walsham Round Table towards their Beer Festival on the Memorial Park|
|£795|to Atrium Cinema for new digital projector|
|£500|to SNAP school for digital cameras for Millfield and Manor Road schools|
|£300|to North Walsham Heritage Centre for purchase of historic documents|
|£1,920|to purchase memorial benches for Maureen Edward and Paul Oakes|
|£1,260|to Atrium Cinema for advertising and noticeboards to help promote their events.|
|£3,000|to Phoenix Group for equipment for their Hospitality and Customer apprenticeship scheme|
|£889|to Honing Village Hall for sports equipment.|
|£500|to Playing for Cake for their 2022 events|
|£170|to Millfield School for entertainments at their summer fair|
|£750|to North Walsham Community Events to purchase additional lights for their Christmas Lights|
||display.|
|£750|to North Walsham Rugby Club towards new pitch lighting|
|£250|to North Walsham Library for them to provide support and advice to perimenopausal or|
||menopausal women.|
|£800|to North Walsham Scout Group for a new oven|
|£250|to the Good Companions group to help with activities at their weekly meetings.|
|£500|to support the Christmas Day lunch provided by the Churches Together group.|
|£190|to North Walsham Park Run to purchase a utility cart and storage boxes|
3
## **Report of the Trustees For the year to 31 December 2022 (continued)**
## **Public benefit statement**
The trustees have regard to the Charity Commission’s public benefit guidance.
## **Financial review**
During 2022 the Trust received £4,906 in small donations from local businesses (2021 - £1,045) and £56,703 from shop sales (2021 - £40,728). The Trust also received government Covid-19 support grants via NNDC totalling £563 (2021 - £22,481).
## **Plans for the future**
The Trustees have no plans for significant change in 2023.
## **Trustees’ responsibilities in relation to the financial statements**
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the Trustees are required to;
- Select suitable accounting policies and then apply them constantly;
- Observe the methods and principles of the Charities SORP 2015
- Make judgements and estimates that are reasonable and prudent
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Report) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Trustees on 30 May 2023 signed on their behalf by;
Mr R Wright – Trustee
Ms A Abbs - Trustee
4
## **Report of the Independent Examiners to the Trustees of North Walsham Community Shop**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 6 to 8.
## **Responsibilities and basis of report**
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the 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 accounts do not accord with those records.
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.
I A Barlow FCCA Sexty & Co Chartered Certified Accountants and Registered Auditors 124 Thorpe Road Norwich NR1 1RS
Date: 30 May 2023
5
## **RECEIPTS AND PAYMENTS ACCOUNTS For the year to 31 December 2022**
|**Incoming Resources**
Donations
Government Grants
Shop sales
Rag sales
**Total Incoming Resources**
**Resources Expended**
Grants
Rent
Rates
Light and heat
Insurance
Repairs and renewals
Telephone
Printing, postage and stationery
Accountancy
Miscellaneous Expenses
**Total Resources Expended**
Net Incoming Resources
Transfers between funds
**Net Incoming Resources After Transfers**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
4,906
-
4,906
1,045
563
-
563
22,481
56,703
-
56,703
40,728
1,966
-
1,966
1,235
-|
|---|---|
||64,138
-
64,138
65,489|
||25,361
-
25,361
31,929
12,600
-
12,600
9,250
815
-
815
435
2,019
-
2,019
1,163
1,061
-
1,061
544
2,340
-
2,340
2,394
443
-
443
443
108
-
108
70
1,302
-
1,302
1,084
1,001
-
1,001
978|
||47,050
-
47,050
48,290|
||17,088
-
17,088
17,199
-
-
-
-|
||17,088
-
17,088
17,199
46,467
500
46,967
29,768|
||63,555
500
64,055
46,967|
6
## **STATEMENT OF ASSETS AND LIABILITES for the year to 31 December 2022**
|**Notes**
**Fixed assets**
Tangible assets
**Current assets**
Cash at bank and in hand
**Creditors**
**Net current assets**
**Total assets less current liabilities**
**Funds:**
**Unrestricted funds**
General funds
Restricted funds
4
**Total funds**|**2022**
**£**
**£**
3,687
60,368
-
64,055
64,055
63,555
500
64,055|**2021**
**£**
**£**
3,687
43,380
100
43,280
46,967
46,467
500
46,967|**2021**
**£**
**£**
3,687
43,380
100
43,280
46,967
46,467
500
46,967|
|---|---|---|---|
||||46,967|
||||46,467
500|
||||46,967|
The financial statements on pages 6 to 8 were approved by the Trustees on 30 May 2023 and signed on their behalf by:
Mr R Wright – Trustee
Ms A Abbs - Trustee
7
## **Notes forming part of the financial statements for the year to 31 December 2022**
## **1. Accounting policies**
## **Accounting Convention**
The financial statements have been prepared under the historical cost convention and are in accordance with applicable UK accounting standards. The financial statements also comply with the Statement of Recommended Practice: "Accounting and Reporting by Charities" published in 2015 and the Charities Act 2011.
## **Income**
Income is accounted for on a receipts basis.
Gifts donated for resale are included as income when they are sold. No amounts are included in the financial statements for services donated by volunteers or for volunteer time.
Grants, including grants for the purchase of fixed assets, are recognised in full in the SOFA in the year in which they are received.
## **Expenditure**
Expenditure is accounted for on a payments basis.
## **Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
## **Tangible Fixed Assets**
Tangible fixed assets are held at cost. The Trustees do not consider the valuation of the Fixed Assets to be lower than cost.
## **Taxation**
The Charity is not liable for assessment to tax on its results.
## **2. Grants Made**
- 28 Grants were awarded during the year totaling £25,361 (2021 - £31,929), all of which were paid to charities and voluntary organisations in the local area.
## **3. Transactions with Trustees**
The Trustees neither received nor waived any remuneration during the year. Trustees received fuel reimbursement for collection and transport of goods for the shop.
## **4. Restricted Funds**
The purpose of each restricted fund carried forward at the year-end is given below:
|||**At**|
|---|---|---|
|||**31 December**|
|**Donor**|**Purpose**|**2022**|
|||**£**|
|North Walsham Town Council|Audio Visual Display Equipment|500|
8